MIRA
INFORM REPORT
|
Report Date : |
11.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SPACE WOOD FURNISHERS PRIVATE LIMITED |
|
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|
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Registered
Office : |
T-48, M.I.D.C., Hingna, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
18.06.1996 |
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Com. Reg. No.: |
11-100296 |
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Capital
Investment / Paid-up Capital : |
Rs.33.066 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36100MH1996PTC100296 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPS01638A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS4955R |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Subject is primarily engaged in the business of manufacturing modular
furniture and pre laminated boards. |
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|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1000000 |
|
|
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|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. The company has achieved fair profitability from its operational
activities during the financial year 2013. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES:
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before.A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward Brown.
Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top 10 of
the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term Loans=BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
June, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Non Fund Based Facilities=A3 |
|
Rating Explanation |
Moderate degree of safety and high credit
risk. |
|
Date |
June, 2013 |
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 PARTED BY
|
Name : |
Mr. Dinesh |
|
Designation : |
Finance Department |
|
Contact No.: |
91-9822369024 |
LOCATIONS
|
Registered/ Head
Office/ Factory: |
T-48, M.I.D.C., Hingna, |
|
Tel. No.: |
91-7104-324780 / 235967 / 234857 / 58 |
|
Mobile No.: |
91-9822369024 (Mr. Dinesh) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
http://www.spacewood.in
|
|
Area : |
15000 acres |
|
Location : |
Leased |
|
|
|
|
Branch Office : |
Located At · Chennai · Pune · New Delhi · Mumbai · Kolkata · Bangalore |
|
|
|
|
Showroom : |
Located at · Nagpur · Hyderabad · New Delhi · Gurgaon · Chennai · Kolkata |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Vivek Moreshwar Deshpande |
|
Designation : |
Director |
|
Address : |
“Madhav”, 67 A, Shivaji Nagar, Nagpur – 440010, Maharashtra,
India |
|
Date of Birth/Age : |
14.11.1970 |
|
Qualification : |
BE (Mech.) |
|
Date of Appointment : |
18.06.1996 |
|
DIN No.: |
00023147 |
|
Voter ID No. : |
UOA1372242 |
|
|
|
|
Name : |
Mr. Kirit Sharad Joshi |
|
Designation : |
Director |
|
Address : |
23, Trayambakeshwar, Near Dr. Choudhary’s House, New Verma Layout,
Nagpur – 440 033, Maharashtra, India |
|
Date of Birth/Age : |
20.10.1970 |
|
Qualification : |
BE (Mech.) |
|
Date of Appointment : |
09.07.1996 |
|
DIN No.: |
00204902 |
|
Voter ID No. : |
MT/23/137/0381102 |
|
|
|
|
Name : |
Mr. Nitin Sharadchandra Sudame |
|
Designation : |
Whole-time director |
|
Address : |
Prasad, 105, Swawalambi Nagar, |
|
Date of Birth/Age : |
23.05.1965 |
|
Date of Appointment : |
01.10.2010 |
|
DIN No.: |
03291500 |
|
Voter ID No. : |
YKB0330752 |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
%age |
|
Vivek M. Deshpande |
1,389,938 |
42.04 |
|
Kirit S. Joshi |
1,298,138 |
39.26 |
|
Sharad T. Joshi |
196,350 |
5.94 |
|
Vidya S. Joshi |
119,532 |
3.62 |
|
Usha M. Deshpande |
27,412 |
0.83 |
|
Ratna K. Joshi |
39,205 |
1.19 |
|
Varsha V. Deshpande |
235,875 |
7.13 |
|
Bennet Coleman and Company Limited |
100 |
0.00 |
|
Total |
3,306,550 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the business of manufacturing modular
furniture and pre laminated boards. |
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|
Products : |
· Kitchen Carcass from China · High Gloss Laquer doors for Kitchen Cabinets · Bedroom and Living Room Furniture · Office Furniture |
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Exports : |
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Countries : |
Oman |
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Imports : |
|
||||
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Countries : |
·
China ·
Malaysia |
GENERAL INFORMATION
|
No. of Employees : |
250 (Approximately) |
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|
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Bankers : |
· Union Bank of India, Shriman Commercial Complex, Dhantoli, Nagpur – 440012, Maharashtra, India ·
Corporation Bank, 44 S.V.P Marg Kingsway,
Nagpur – 440001, Maharashtra, India · State Bank of India · State Bank of India, Hingna Industrial Estate, Nagpur - 440016, Maharashtra, India ·
Kotak Mahindra Bank Limited |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Facilities : |
Cash Credit Rs.250.000 Millions / L/C Rs.200.000 Millions (From Union
Bank of India, Shriman Commercial Complex, Dhantoli, Nagpur – 440012,
Maharashtra, India) |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
C N Patel and Company Chartered Accountants |
|
Address : |
Gani Sons Charitable |
|
Tel. No.: |
91-712-2584800/2584082 |
|
E-Mail : |
cnpca@rediffmail.com |
|
PAN.: |
AGWPP7500Q |
|
|
|
|
Associates : |
Platinum Business India Private Limited (Earlier Spacewood Exports Private Limited) CIN No.:
U51393MH2007PTC172507 |
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|
|
|
Subsidiaries : |
· Spacewood Office Solutions Private Limited · Spacewood Hong Kong Limited · Dolphin Hume Pipe Industries Private Limited CIN No.: U26956MH1983PTC030168 |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3306550 |
Equity Shares |
Rs.10/- each |
Rs.33.066 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
33.066 |
33.065 |
33.065 |
|
(b) Reserves & Surplus |
222.396 |
149.443 |
144.693 |
|
(c) Money
received against share warrants |
15.017 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
270.479 |
182.508 |
177.758 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
222.093 |
231.170 |
218.732 |
|
(b) Deferred tax liabilities (Net) |
11.702 |
12.754 |
14.033 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
2.099 |
1.472 |
1.187 |
|
Total Non-current Liabilities (3) |
235.894 |
245.396 |
233.952 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
305.910 |
291.355 |
330.036 |
|
(b) Trade payables |
222.053 |
151.545 |
163.114 |
|
(c) Other current
liabilities |
104.190 |
110.097 |
141.588 |
|
(d) Short-term provisions |
38.816 |
35.319 |
7.424 |
|
Total Current Liabilities (4) |
670.969 |
588.316 |
642.162 |
|
|
|
|
|
|
TOTAL |
1177.342 |
1016.220 |
1053.872 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
321.604 |
198.221 |
196.504 |
|
(ii) Intangible Assets |
1.374 |
2.881 |
0.629 |
|
(iii) Capital
work-in-progress |
0.000 |
41.042 |
42.277 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
41.425 |
69.803 |
68.002 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
43.930 |
10.468 |
5.320 |
|
(e) Other Non-current assets |
0.119 |
0.178 |
0.000 |
|
Total Non-Current Assets |
408.452 |
322.593 |
312.732 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
231.332 |
246.583 |
205.015 |
|
(c) Trade receivables |
452.795 |
324.375 |
397.651 |
|
(d) Cash and cash
equivalents |
29.115 |
30.644 |
45.816 |
|
(e) Short-term loans and
advances |
39.648 |
88.997 |
89.603 |
|
(f) Other current assets |
15.000 |
3.028 |
3.055 |
|
Total Current Assets |
767.890 |
693.627 |
741.140 |
|
|
|
|
|
|
TOTAL |
1176.342 |
1016.220 |
1053.872 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1536.589 |
1385.423 |
1366.048 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1506.155 |
1377.556 |
1244.576 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
30.434 |
7.867 |
121.472 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
56.928 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
30.434 |
7.867 |
64.544 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
0.000 |
0.000 |
25.242 |
|
|
|
|
|
|
|
|
|
Add |
EXCHANGE
FLUCTUATION GAIN/(LOSS) ON ADVANCES |
0.000 |
3.532 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
EXTRAORDINARY ITEMS |
30.434 |
11.399 |
25.242 |
|
|
|
|
|
|
|
|
|
Add |
EXTRAORDINARY
ITEMS |
0.000 |
0.793 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
30.434 |
12.192 |
39.302 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
9.992 |
1.023 |
16.051 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
20.442 |
11.169 |
23.251 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
126.229 |
115.060 |
96.738 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
NA |
2.000 |
|
|
|
Transfer to Foreign Currency Transaction Reserve |
NA |
NA |
(0.926) |
|
|
|
Proposed Dividend |
NA |
NA |
3.306 |
|
|
|
Tax on Dividend |
NA |
NA |
0.549 |
|
|
BALANCE CARRIED
TO THE B/S |
146.671 |
126.229 |
115.060 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
4.654 |
12.173 |
27.571 |
|
|
TOTAL EARNINGS |
4.654 |
12.173 |
27.571 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
0.000 |
5.898 |
36.433 |
|
|
|
Raw Materials |
341.788 |
430.082 |
415.355 |
|
|
TOTAL IMPORTS |
341.788 |
435.980 |
451.788 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.86 |
2.99 |
7.31 |
|
Expected Sales (2013-2014): Rs.2000.000 Millions
The above information has been parted by Mr. Dinesh (Finance Department)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.33 |
0.81 |
1.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.68 |
1.35 |
4.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.01 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.23 |
0.24 |
0.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14 |
1.18 |
1.15 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
33.065 |
33.065 |
33.066 |
|
Reserves & Surplus |
144.693 |
149.443 |
222.396 |
|
Money received against share
warrants |
0.000 |
0.000 |
15.017 |
|
Net
worth |
177.758 |
182.508 |
270.479 |
|
|
|
|
|
|
long-term borrowings |
218.732 |
231.170 |
222.093 |
|
Short term borrowings |
330.036 |
291.355 |
305.910 |
|
Total
borrowings |
548.768 |
522.525 |
528.003 |
|
Debt/Equity
ratio |
3.087 |
2.863 |
1.952 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
1366.048 |
1385.423 |
1536.589 |
|
|
|
1.418 |
10.911 |
NET PROFIT MARGIN
|
Net Profit
Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
1366.048 |
1385.423 |
1536.589 |
|
Profit |
23.251 |
11.169 |
20.442 |
|
|
1.70% |
0.81% |
1.33% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
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 |
Yes |
|
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) |
Yes |
|
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 |
Yes |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION
DETAILS:
|
HIGH COURT OF BOMBAY |
||||
|
Bench:- Bombay |
|
|||
|
Stamp No:- |
CAWST/5685/2010 |
Failing Date:- |
03/03/2010 |
|
|
|
||||
|
|
Main Matter |
|
||
|
Stamp No.:- |
WPST/30983/2009 |
Reg. Date:- |
WP/83/2010 |
|
|
Petitioner:- |
DESIGNATED AUTHORITY AND ANR |
Respondent:- |
SPACE WOOD FURNISHERS PRIVATE LIMITED |
|
|
Petn.Adv:- |
SHRI S.R. GANBAVALE |
|||
|
District:- |
BOMBAY |
|||
|
|
||||
|
Bench:- |
DIVISION |
|||
|
Status:- |
Pre-Admission |
Stage:- |
|
|
|
Last Date:- |
23.03.2010 |
|||
|
Last Coram:- |
HON’BLE SHRI JUSTICE V.C. DAGA HON;BLE SHRI JUSTICE K.K. TATED |
|||
|
|
|
|||
|
Act:- |
Order Act |
|||
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Deferred Sales
Tax Loan |
20.903 |
23.863 |
|
Loans and
Advances from Related Parties |
30.000 |
30.000 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Intercorporate
Borrowings |
0.000 |
0.284 |
|
Loans and
Advances from Related Parties |
11.850 |
11.850 |
|
|
|
|
|
Total |
62.753 |
65.997 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10317093 |
04/01/2012
* |
86,000,000.00 |
CORPORATION
BANK |
44
S.V.P MARG KINGSWAY, NAGPUR, MAHARASHTRA - 440001, INDIA |
B33142787 |
|
2 |
10193819 |
13/11/2009 |
10,000,000.00 |
UNION
BANK OF INDIA |
DHANTOLI,
NAGPUR, MAHARASHTRA - 440012, INDIA |
A76190495 |
|
3 |
10123805 |
21/07/2012
* |
450,000,000.00 |
UNION
BANK OF INDIA |
SHRIMAN
COMMERCIAL COMPLEX, DHANTOLI, NAGPUR, MAHARASHTRA - 440012, INDIA |
B45645678 |
* Date of charge modification
FIXED ASSETS:
· Land
· Factory Building
· Plant and Machinery
· Tools and Equipments
· Office Equipments
· Computers
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 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.59.88 |
|
|
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.81.69 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
45 |
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.