MIRA
INFORM REPORT
|
Report Date : |
14.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
CORRTECH INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
51, Mahagujarat Industrial Estate, Opposite Nova Petrochemicals,
Sarkhej – Bavla Highway, Village Moraiya, Changodor, Ahmedabad – 382213,
Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
08.06.1982 |
|
|
|
|
Com. Reg. No.: |
04-038664 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 145.450 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29130GJ1982PTC038664 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMC00080D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Subject is engaged in the business of Pipeline
Construction, Cathodic Protection Systems and Horizontal Directional Drilling
(HDD). |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
Trade relations are reported to be fair. Business is active. Payments are
reported to be usually correct and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. Note: Management has failed to file its latest financials of 2013 with
government department. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit narrowed in the quarter ended September as government measures to
curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260 million
in September, 2012, according to Deloitte report. The number of transactions
has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank (BB +) (Suspended) |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
18.03.2013 |
Reason for suspension: Company has not furnished information required.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Kunjit Patel |
|
Designation : |
Chief Finance Officer |
|
Tel No.: |
91-9925207927 |
|
Date : |
11.01.2014 |
LOCATIONS
|
Registered Office/ Factory/ Pipeline Division : |
51, Mahagujarat Industrial Estate, Opposite Nova Petrochemicals,
Sarkhej – Bavla Highway, Village Moraiya, Changodor, Ahmedabad – 382213,
Gujarat, India |
|
Tel. No.: |
91-2717-304100 to 199 |
|
Fax No.: |
91-2717- 304150 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Cathodic Protection System Division : |
22, Dhara Centre, Vijay Cross Roads, Navrangpura, Ahmedabad – 380009, |
|
Tel. No.: |
91-79-26563443 / 26420119 / 39873100/ 26420118/ 26568639/ 26563443/
26568639/ 26424400/ 26420118 |
|
Fax No.: |
91-79-26431615 |
|
|
|
|
Factory 2 : |
Shed No.7, Survey No.407, SP – 3, New Ahmedabad Industrial Estate, Near Sarvoday Hotel, Sarkhej Bavla Road, Village Moraiya, Changodor, Ahmedabad – 382213, Gujarat, India |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Sandeep Indrasen Mittal |
|
Designation : |
Director |
|
Address : |
D -33, Aryaman Bunglows, Next to Railway Crossing, Thaltej Shilaj
Road, Shilaj, Ahmedabad - 380059,Gujarat, India |
|
Date of Birth/Age : |
02.04.1968 |
|
Date of Appointment : |
18.08.1997 |
|
DIN No.: |
01643818 |
|
PAN No.: |
AFRPM1147C |
|
|
|
|
Name : |
Mr. Amit Indrasen Mittal |
|
Designation : |
Managing Director |
|
Address : |
38,
Akashneem, Opposite Nehru Foundation, Bodakdev, Ahmedabad - 380054, Gujarat,
India |
|
Date of Birth/Age : |
01.08.1966 |
|
Date of Appointment : |
20.03.1997 |
|
DIN No.: |
01644010 |
|
PAN No.: |
ABOPM5343D |
KEY EXECUTIVES
|
Name : |
Mr. Devendra Jaswant Singh Rajput |
|
Designation : |
Secretary |
|
Address : |
13, Arbudadevi Society, Part-1, Near Chandlodiya Railway Station, Chanakapuri
Road, Ahmedabad – 380061, Gujarat, India |
|
Date of Birth/Age : |
10.10.1970 |
|
Date of Appointment : |
31.03.2009 |
|
PAN No.: |
ABMPR1234J |
|
|
|
|
Name : |
Mr. Kunjit Patel |
|
Designation : |
Chief Finance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Sandeep Mittal |
|
2393995 |
|
Amit Mittal |
|
2306060 |
|
I.S. Mittal HUF |
|
121700 |
|
Kavita A. Mittal |
|
1074370 |
|
Harinis. Mittal |
|
986435 |
|
IEC Projects Limited |
|
1407000 |
|
Shailesh Javia |
|
1500 |
|
Axis Infrastructure Fund 1, India |
|
3781700 |
|
In The Joint Name of Shashibala
Mittal, Amit Mittal and Kavita A. Mittal |
|
1236120 |
|
In The Joint Name of
Shashibala Mittal, Sandeep Mittal and Harini S. Mittal |
|
1236120 |
|
|
|
|
|
Total |
|
14545000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
35.67 |
|
Directors or relatives of Directors |
64.33 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is engaged in the business of Pipeline
Construction, Cathodic Protection Systems and Horizontal Directional Drilling
(HDD). |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
Yes Bank Limited, 9th Floor, Nehru Centre,
Discovery of India, Dr. Annie Besant Raod, Worli, Mumbai – 400018,
Maharashtra, India ·
UCO Bank, MID Corporate Branch, UCO Bhavan,
Ahmedabad – 380009, Gujarat, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
3rd Floor 'Heritage' Near Gujrath Vidya Pith of Fashram
Road Ahmedabad – 380014, Gujarat, India |
|
PAN No.: |
AABFD7919A |
|
|
|
|
Subsidiary company: |
·
Corrtech Energy Limited, India (CIN: U52330GJ2000PLC037925) ·
Control Plus Oil and Gas Solutions Private
Limited, India (CIN: U40200GJ2005PTC047122) |
|
|
|
|
Others: |
·
MJB India Industrial Repairs Private Limited ,
India (CIN: U29260GJ2006PTC047602) |
|
|
|
|
Joint venture: |
·
Corrtech Trenchless Private Limited, India (CIN: U45209GJ2010PTC061458) |
|
|
|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives |
·
IEC Projects Limited, India (CIN: U45201GJ2002PLC041686) |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14545000 |
Equity Shares |
Rs.10/- each |
Rs. 145.450 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
145.450 |
145.450 |
|
(b) Reserves & Surplus |
|
865.448 |
821.139 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
1010.898 |
966.589 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
447.014 |
319.398 |
|
(b) Deferred tax liabilities (Net) |
|
125.721 |
114.180 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
1.204 |
1.393 |
|
Total Non-current Liabilities (3) |
|
573.939 |
434.971 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
685.927 |
618.172 |
|
(b) Trade payables |
|
512.701 |
620.553 |
|
(c) Other current
liabilities |
|
709.692 |
558.799 |
|
(d) Short-term provisions |
|
49.411 |
15.962 |
|
Total Current Liabilities (4) |
|
1957.731 |
1813.486 |
|
|
|
|
|
|
TOTAL |
|
3542.568 |
3215.046 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1495.489 |
1485.630 |
|
(ii) Intangible Assets |
|
4.236 |
5.533 |
|
(iii) Capital
work-in-progress |
|
0.000 |
48.934 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
120.078 |
120.078 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
17.341 |
7.367 |
|
(e) Other Non-current assets |
|
15.121 |
84.451 |
|
Total Non-Current Assets |
|
1652.265 |
1751.993 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
656.561 |
560.007 |
|
(c) Trade receivables |
|
691.486 |
537.140 |
|
(d) Cash and cash
equivalents |
|
176.523 |
86.653 |
|
(e) Short-term loans and
advances |
|
341.887 |
260.274 |
|
(f) Other current assets |
|
23.846 |
18.979 |
|
Total Current Assets |
|
1890.303 |
1463.053 |
|
|
|
|
|
|
TOTAL |
|
3542.568 |
3215.046 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
145.450 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1044.941 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1190.391 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1049.546 |
|
|
2] Unsecured Loans |
|
|
114.220 |
|
|
TOTAL BORROWING |
|
|
1163.766 |
|
|
DEFERRED TAX LIABILITIES |
|
|
59.976 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2414.133 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1238.724 |
|
|
Capital work-in-progress |
|
|
134.949 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
115.078 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
389.240 |
|
|
Sundry Debtors |
|
|
682.190 |
|
|
Cash & Bank Balances |
|
|
136.433 |
|
|
Other Current Assets |
|
|
61.123 |
|
|
Loans & Advances |
|
|
131.014 |
|
Total
Current Assets |
|
|
1400.000 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
297.498 |
|
|
Other Current Liabilities |
|
|
173.110 |
|
|
Provisions |
|
|
4.010 |
|
Total
Current Liabilities |
|
|
474.618 |
|
|
Net Current Assets |
|
|
925.382 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2414.133 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2638.101 |
2431.334 |
2059.950 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
2579.037 |
2640.218 |
1871.676 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE PRIOR PERIOD ADJUSTMENTS AND TAXES |
59.064 |
(208.884) |
188.274 |
|
|
|
|
|
|
|
|
|
Add |
PRIOR PERIOD
ADJUSTMENTS |
0.000 |
45.749 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
59.064 |
(163.135) |
188.274 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
14.755 |
60.666 |
66.347 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
44.309 |
(223.801) |
121.927 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
187.650 |
411.451 |
289.524 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
231.959 |
187.650 |
411.451 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
137.663 |
64.336 |
NA |
|
|
|
|
|
|
|
|
|
Earnings /
(loss) Per Share (Rs.) |
3.05 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.68
|
(9.20) |
5.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.73
|
(5.36) |
13.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
(0.17) |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.120
|
0.97 |
0.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97
|
0.81 |
2.95 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
304.602 |
372.858 |
NA
|
|
|
|
|
|
|
Total |
304.602 |
372.858 |
NA
|
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
HIGH COURT OF GUJARAT
COMPANY PETITION No. 244 of 2013
|
Status : PENDING |
( Converted from : O/ST/2396/2013 ) |
CCIN No : 001058201300244 |
|
|
||||||||||||
|
|
||||||||||||
|
S.NO. |
Name of the Petitioner |
Advocate On Record |
|
||||||||||
|
1 |
HDFC BANK LIMITED |
MR PM DAVE for: Petitioner(s) |
|
||||||||||
|
S.NO. |
Name of the Respondant |
Advocate On Record |
|||||||||||
|
1 |
CORRTECH INTERNATIONAL PRIVZATE LIMITED |
MRS SANGEETA N PAHWA for :Respondent(s) |
|||||||||||
|
Presented On |
: 04/09/2013 |
Registered On |
: 05/09/2013 |
||||||||||
|
Bench Category |
: - |
District |
: AHMEDABAD |
||||||||||
|
Case Originated From |
: THROUGH ADVOCATE |
Listed |
: 12 times |
||||||||||
|
StageName |
: NOTICE RETURNABLE MATTERS |
||||||||||||
1
|
Classification |
|
|
Act |
|
Office Details
|
|
S. No. |
Filing Date |
Document Name |
Advocate Name |
Court Fee on
Document |
Document Details |
|
1 |
04/09/2013 |
VAKALATNAMA |
MR PM DAVE ADVOCATE |
5 |
MR PM DAVE(263) for P:1 |
|
2 |
04/09/2013 |
MEMO OF APPEAL/PETITION/SUIT |
MR PM DAVE ADVOCATE |
100 |
MR PM DAVE(263), for P:1 |
|
3 |
14/10/2013 |
VAKALATNAMA |
MRS SANGEETA N PAHWA ADVOCATE |
5 |
MRS SANGEETA N PAHWA(527) for R:1 |
|
4 |
17/10/2013 |
AFFIDAVIT OF DS |
MR PM DAVE ADVOCATE |
0 |
MR PM DAVE(263) for P:1 |
Court Proceeding
|
|||||
|
S. No. |
Notified Date |
CourtCode |
Board Sr. No. |
Stage |
Action |
Coram |
|
1 |
10/09/2013 |
13 |
1 |
ADMISSION (FRESH MATTERS) |
NEXT DATE |
· HONOURABLE MR.JUSTICE K.M.THAKER |
|
2 |
20/09/2013 |
13 |
10 |
ADJOURNED MATTERS |
NEXT DATE |
· HONOURABLE MR.JUSTICE K.M.THAKER |
|
3 |
21/10/2013 |
13 |
27 |
NOTICE RETURNABLE MATTERS |
NEXT DATE |
· HONOURABLE MR.JUSTICE K.M.THAKER |
|
4 |
22/11/2013 |
15 |
17 |
NOTICE RETURNABLE MATTERS |
NEXT DATE |
· HONOURABLE MR.JUSTICE K.M.THAKER · HONOURABLE MR.JUSTICE R.M.CHHAYA |
|
5 |
03/12/2013 |
15 |
33 |
NOTICE RETURNABLE MATTERS |
NEXT DATE |
· HONOURABLE MR.JUSTICE R.M.CHHAYA |
|
6 |
18/12/2013 |
15 |
26 |
NOTICE RETURNABLE MATTERS |
NEXT DATE |
· HONOURABLE MR.JUSTICE R.M.CHHAYA |
|
7 |
20/12/2013 |
15 |
33 |
NOTICE RETURNABLE MATTERS |
|
·
HONOURABLE MR.JUSTICE R.M.CHHAYA |
|
8 |
24/12/2013 |
15 |
48 |
NOTICE RETURNABLE MATTERS |
NEXT DATE |
· HONOURABLE MR.JUSTICE R.M.CHHAYA |
|
9 |
10/01/2014 |
15 |
23 |
NOTICE RETURNABLE MATTERS |
NEXT DATE |
· HONOURABLE MR.JUSTICE R.M.CHHAYA |
|
10 |
27/01/2014 |
15 |
23 |
NOTICE RETURNABLE MATTERS |
|
·
HONOURABLE MR.JUSTICE R.M.CHHAYA |
NOTE: Registered office of the company has been
shifted from 22, Dhara Centre, Vijay Cross Roads, Navrangpura, Ahmedabad – 380009,
Gujarat, India to the present address
w.e.f.22.10.2010
REVIEW OF OPERATION:
During the year,
the Company has earned of Rs. 2638.100 Millions from operations. The Profit
after tax for the year has been Rs. 44.300 Millions as against Loss after tax
of Rs. 223.800 Millions during the previous financial year. The Directors are
continuously looking for avenues for future growth of the Company.
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long term
borrowing |
|
|
|
Working capital loans from banks |
207.966 |
0.000 |
|
Short term borrowing
|
|
|
|
Working capital loans from banks |
0.000 |
20.000 |
|
Loans repayable on demand |
0.000 |
50.194 |
|
Total |
207.966 |
70.194 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION
|
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10428601 |
02/05/2013 |
11,500,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
TATA CAPITAL FINANCIAL
SERVICES LIMITED, DR. V. B. GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001,
INDIA |
B75850016 |
|
2 |
10410334 |
20/02/2013 |
96,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR
OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT -
380006, IN DIA |
B69728079 |
|
3 |
10406981 |
08/01/2013 |
90,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B69110047 |
|
4 |
10331011 |
01/04/2013 * |
490,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD
FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT -
380006, INDIA |
B75075986 |
|
5 |
10270542 |
10/02/2011 |
32,883.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B07516651 |
|
6 |
10270543 |
10/02/2011 |
169,408.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B07516719 |
|
7 |
10270717 |
10/02/2011 |
355,754.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B07659386 |
|
8 |
10270532 |
10/02/2011 |
355,755.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B07516362 |
|
9 |
10270536 |
10/02/2011 |
355,755.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B07516404 |
|
10 |
10270537 |
10/02/2011 |
355,760.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B07516479 |
Note: * Date of charge modification
Fixed Assets
Tangible assets
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Computer equipments
Intangible assets
·
Brands and trade marks
·
Trade marks
·
Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
|
1 |
Rs.101.48 |
|
Euro |
1 |
Rs.84.11 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.