MIRA
INFORM REPORT
|
Report Date : |
26.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
KRISHNA KNITWEAR TECHNOLOGY LIMITED |
|
|
|
|
Registered
Office : |
Village Samarvani, Krishna Nagar, Silvassa – 396230, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
23.08.1982 |
|
|
|
|
Com. Reg. No.: |
04-000092 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3451.126 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17119DN1982PLC000092 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Spinning and Exports of Speciality Knitted Fabrics, Speciallty Yarn
and Garments. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There seems sharp dip in the turnover of the company during 2013, the
company is also continuously incurring losses. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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
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.
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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON – COOPERATIVE (91-22-24955321/29)
LOCATIONS
|
Registered Office / Mills: |
Village Samarvani, Krishna Nagar, Silvassa – 396230, Gujarat, India |
|
Tel. No.: |
91-260-3258844/2645995/2643891 |
|
Fax No.: |
91-260-2643893 |
|
E-Mail : |
|
|
|
|
|
Corporate Office: |
Kamat Insutrial Estate, 396, Veer Savarkar Marg, Prabhadevi, Mumbai –
400025, Maharashtra, India |
|
Tel. No.: |
91-22-24373044 |
|
Fax No.: |
91-22-24924295 |
DIRECTORS
As on 10.08.2013
|
Name : |
Mr. Farindra Bihari Bhuneshwar Rai |
|
Designation : |
Managing director |
|
Address : |
RH 119A, Flat No. 5, MIDC Complex, Model College Shopping, Chentre Dombivali
(East), Mumbai – 421201, Maharashtra, India |
|
Date of Birth/Age : |
08.02.1963 |
|
Qualification: |
Diploma in Textile Technology |
|
Date of Appointment : |
30.10.2006 |
|
DIN No.: |
00780521 |
|
|
|
|
Name : |
Mr. Narayan Ramchandra Ghumatkar |
|
Designation : |
Director |
|
Address : |
H No. 1/19, Jariwala Building, N M Joshi Road, Byculla, Mumbai –
400011, Maharashtra, India |
|
Date of Birth/Age : |
28.02.1964 |
|
Date of Appointment : |
21.02.2002 |
|
DIN No.: |
01717979 |
|
|
|
|
Name : |
Mr. Trivendra Shambhu Singh |
|
Designation : |
Director |
|
Address : |
C-304, Chandresh avenue Lodha Heaven, Nilje, Dombivali East, Mumbai –
400011, Maharashtra, India |
|
Date of Birth/Age : |
10.03.1980 |
|
Date of Appointment : |
24.02.2002 |
|
DIN No.: |
05240052 |
|
|
|
|
Name : |
Mr. Pritam Singh Pritam |
|
Designation : |
Additional director |
|
Address : |
504, Adishwar Apartment, 34 Feroz Shah Road, Delhi – 110001,
Maharashtra, India |
|
Date of Birth/Age : |
10.07.1941 |
|
Date of Appointment : |
07.08.2012 |
|
DIN No.: |
00048978 |
|
|
|
|
Name : |
Mr. Anand Balkisan Zawar |
|
Designation : |
Additional director |
|
Address : |
Sadguru Nagar, Old MIDC Jalgaon, Mumbai – 425001, Maharashtra, India |
|
Date of Birth/Age : |
27.11.1979 |
|
Qualification: |
B.E.(Production Engg.) and PGDFM |
|
Date of Appointment : |
01.09.2007 |
|
DIN No.: |
00223967 |
|
|
|
|
Name : |
Mr. Chaturawedi Govindbhai |
|
Designation : |
Additional director |
|
Address : |
33-328, Idablyuse Koloni Idablyuse Koloni Dungra Bulsar – 396235,
Gujarat, India |
|
Date of Birth/Age : |
13.04.1965 |
|
Date of Appointment : |
27.02.2014 |
|
DIN No.: |
02942026 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 10.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Rampratap Tayal |
|
1413590 |
|
Shree Krishna Silk Industries Private Limited, India |
|
52103934 |
|
K-Lifestyle and Industries Limited, India |
|
36298756 |
|
Eskay K'n'it (India) Limited, India |
|
10000000 |
|
KSL and Industries Limited, India |
|
10000000 |
|
Ambica Chemicals and Synthetics Private Limited, India |
|
3639826 |
|
Sanjay Kumar Tayal |
|
3522500 |
|
Jyotika Tayal |
|
2401051 |
|
Upasana Tayal |
|
95100 |
|
Keshav Tayal |
|
482170 |
|
Malvika Tayal |
|
95973 |
|
Shree Ganesh Hosiery Mills Private Limited, India |
|
52068500 |
|
Sanjay Kumar Tayal HUF |
|
68854200 |
|
Archana Syntex Private Limited, India |
|
52068500 |
|
Upasana Silk Mills Private Limited, India |
|
52068500 |
|
Total |
|
345112600 |
Equity Share Break up (Percentage of Total Equity)
As on 10.08.2013
|
Category |
Percentage |
|
Bodies corporate |
77.73 |
|
Directors or relatives of Directors |
21.55 |
|
Other top fifty shareholders |
0.72 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Spinning and Exports of Speciality Knitted Fabrics, Speciallty Yarn
and Garments. |
||||
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|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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|
Bankers : |
· Andhra Bank, Corporate Finance Branch, 16th Floor, Earnest House, Nariman Point, Mumbai - 400021, Maharashtra, India ·
Kotak Mahindra Bank Limited, 6-38a, Nariman
Bhavan, 227,D, Nariman Point,, Mumbai - 400021,Maharashtra, India |
|||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Financial Institute: |
IL and FS Trust Company Limited, IL and FS Financial
Centreplot No C22 G Block Bandra, Kurla Complex Bandra East, Mumbai - 400051,
Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
A F Khasgiwala and Company Chartered Accountants |
|
Address : |
3/307 Rewa Chambers , 31 New Marine Lines, Mumbai, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFA4499D |
|
|
|
|
Subsidiaries : |
Mori Hanol Hydro Power Limited, India [U40109UR2007PLC032381] |
--
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000000 |
Equity Shares |
Rs.10/- each |
Rs. 5000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
345112600 |
Equity Shares |
Rs.10/- each |
Rs. 3451.126
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
3451.126 |
3451.126 |
|
(b) Reserves & Surplus |
|
1526.881 |
4163.738 |
|
(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) |
|
4978.007 |
7614.864 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
4436.445 |
2972.085 |
|
(b) Deferred tax liabilities
(Net) |
|
0.000 |
130.581 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
4436.445 |
3102.666 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
6189.616 |
6271.801 |
|
(b) Trade payables |
|
44.729 |
65.891 |
|
(c) Other current liabilities |
|
19.104 |
824.905 |
|
(d) Short-term provisions |
|
54.512 |
176.217 |
|
Total
Current Liabilities (4) |
|
6307.961 |
7338.814 |
|
|
|
|
|
|
TOTAL |
|
15722.413 |
18056.344 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
6498.051 |
7800.716 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
272.842 |
272.842 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
160.576 |
160.576 |
|
(c) Deferred tax assets (net) |
|
62.836 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
6994.305 |
8234.134 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
5343.045 |
5395.836 |
|
(c) Trade receivables |
|
2837.213 |
3932.303 |
|
(d) Cash and cash equivalents |
|
158.913 |
56.026 |
|
(e) Short-term loans and
advances |
|
388.937 |
438.045 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
8728.108 |
9822.210 |
|
|
|
|
|
|
TOTAL |
|
15722.413 |
18056.344 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
3451.126 |
|
|
2] Share Application Money |
|
|
675.000 |
|
|
3] Reserves & Surplus |
|
|
5019.182 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
9145.308 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
7882.849 |
|
|
2] Unsecured Loans |
|
|
1000.000 |
|
|
TOTAL BORROWING |
|
|
8882.849 |
|
|
DEFERRED TAX LIABILITIES |
|
|
408.493 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
18436.650 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
9310.472 |
|
|
Capital work-in-progress |
|
|
69.346 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
160.576 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
4250.646
|
|
|
Sundry Debtors |
|
|
4533.517
|
|
|
Cash & Bank Balances |
|
|
96.865
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
230.963
|
|
Total
Current Assets |
|
|
9111.991
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
63.687
|
|
|
Other Current Liabilities |
|
|
143.050
|
|
|
Provisions |
|
|
8.998
|
|
Total
Current Liabilities |
|
|
215.735
|
|
|
Net Current Assets |
|
|
8896.256
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
18436.650 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
15395.526 |
24299.634 |
20691.231 |
|
|
Other Income |
0.000 |
0.000 |
0.872 |
|
|
TOTAL
(A) |
15395.526 |
24299.634 |
20692.103 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
10839.788 |
18024.977 |
|
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
116.755 |
103.079 |
|
|
|
Employees benefits expense |
160.296 |
137.916 |
|
|
|
Other expenses |
4632.643 |
4593.595 |
|
|
|
TOTAL
(B) |
15749.482 |
22859.567 |
19106.521 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(353.956) |
1440.067 |
1585.582 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1173.654 |
1279.506 |
764.213 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(1527.610) |
160.561 |
821.369 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
1302.664 |
1296.100 |
768.437 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(2830.274) |
(1135.539) |
52.932 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
193.417 |
155.775 |
86.831 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(3023.691) |
(1291.314) |
(33.899) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(8.20) |
(3.29) |
0.00 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(19.64) |
(5.31) |
(0.16) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(18.38) |
(4.67) |
0.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(18.59) |
(6.44) |
0.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.57) |
(0.15) |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.13 |
1.21 |
0.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38 |
1.34 |
42.24 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
3451.126 |
3451.126 |
|
Reserves & Surplus |
4163.738 |
1526.881 |
|
Net
worth |
7614.864 |
4978.007 |
|
|
|
|
|
long-term borrowings |
2972.085 |
4436.445 |
|
Short term borrowings |
6271.801 |
6189.616 |
|
Total
borrowings |
9243.886 |
10626.061 |
|
Debt/Equity
ratio |
1.214 |
2.135 |
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) |
|
Sales |
20691.231 |
24299.634 |
15395.526 |
|
|
|
17.439 |
(36.643) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
20691.231 |
24299.634 |
15395.526 |
|
Profit |
(33.899) |
(1291.314) |
(3023.691) |
|
|
(0.16%) |
(5.31%) |
(19.64%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
-- |
|
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 |
REVIEW OF OPERATIONS
During the year, the Turnover of Company has substantially decreased to Rs.15395.526 Millions as against Rs. 24299.634 Millions in respect of the previous Financial Year ended 31st March, 2012. The Loss before Exceptional and Extraordinary Items and Tax is Rs. (2830.274) Millions in the Financial Year ended 31st March, 2013 as against Rs. (1135.539) Millions in the previous Financial year ended 31st March, 2012. The Loss after tax is Rs. (2636.857) Millions during the year under Report after considering Deferred tax Assets of Rs. 193.417 Millions as against Loss after tax of Rs (979.763) Millions in the previous Financial Year.
To keep pace with the development in the Textile Sector, The Company set up an in house Expert Group to suggest measures for Technology up gradation and Modernization of Plants and Machineries in the units. As per their recommendations, old machines including Ring Frames, requiring huge expenditure toward repairs and maintenance consuming high power with low output have been identified and shifted to workshop/godowns for appropriate action. The Company had raised unsecured loan in the earlier years. However, due to liquidity crunch, the Company was unable to pay interest and installments on time. These lenders had asked to either liquidate the loan or to provide some additional collateral security. In order to avoid litigation with these unsecured lenders, the promoters of the Company have pledged 208438876 shares held in the Company to these lenders. The promoters have also agreed to pledge balance 51800000 shares held in the Company with the banks as per CDR scheme.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10387544 |
28/09/2012 |
98,900,000.00 |
INDIAN OVERSEAS BANK |
NARIMAN POINT BRANCH, BAKHTAWAR BUILDING, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B62345863 |
|
2 |
10374893 |
30/08/2012 |
1,742,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B57437287 |
|
3 |
10320495 |
24/10/2011 |
94,500,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH, MAKER TOWER E, GROUND FLOOR, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B26552752 |
|
4 |
10308497 |
13/09/2011 |
507,500,000.00 |
UCO BANK |
FLAGSHIP CORPORATE BRANCH,,1ST FLOOR, MAFATLAL CENTRE, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B21686639 |
|
5 |
10303957 |
11/07/2011 |
67,500,000.00 |
DENA BANK |
CORPORATE BUSINESS BRANCH,
C-10, G-BLOCK, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI, MAHARASHTRA - |
B19517259 |
|
6 |
10298356 |
30/06/2011 |
2,699,035.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA |
B17259995 |
|
7 |
10300357 |
30/06/2011 |
5,892,000.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA |
B18131359 |
|
8 |
10298352 |
04/06/2011 |
9,478,555.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA |
B17257841 |
|
9 |
10280036 |
30/03/2011 |
80,000,000.00 |
INDIAN OVERSEAS BANK |
NARIMAN POINT BRANCH,, BAKHTAWAR BUILDING, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B10404259 |
|
10 |
10282995 |
30/03/2011 |
135,000,000.00 |
ORIENTAL BANK OF COMMERCE |
LARGE CORPORATE
BRANCH, 181-A, MAKER TOWER 'E', 1 |
B11258720 |
* Date of charge modification
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Other loans and advances |
3080.427 |
1350.000 |
|
Total |
3080.427 |
1350.000 |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2013 |
|
|
|
|
Guarantees given by the Company |
54.875 |
|
Corporate Guarantee Given |
384.000 |
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Other equipments
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.60.14 |
|
|
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.81.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--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 |
|
28 |
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.