MIRA
INFORM REPORT
|
Report Date : |
31.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
BIBA APPARELS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
House No. 16/103, Ground Floor, Rajendra Nagar, Borivali (East), Mumbai-400066, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
10.07.2002 |
|
|
|
|
Com. Reg. No.: |
11-136468 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 47.864 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U18100MH2002PTC136468 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMB10533F |
|
|
|
|
Legal Form : |
Private limited liability company. |
|
|
|
|
Line of Business : |
Manufacturers, Dealers, Exporters, Hires, Makers,
Repairers, Alters, Commission Agents and Agents of All Readymade Garments,
Clothes for Men, Women and Children. |
|
|
|
|
No. of Employees
: |
Management Non Co-operative |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3900000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having good track record. Fundamentals of the company is decent. Financial position of the company
is strong and healthy. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered normal for business dealing 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 (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
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
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund manager
Jim Chanos has been keenly following the political and economic development in
the dragon economy and has figured out something that is quite worrying. He is
of the view that the Chinese economy could be heading toward trouble on account
of new Chinese President Xi Jingping’s very aggressive anti-corruption drive.
Chanos believes tat many things such as apartment sales, luxury products, etc.
were largely bought with dirty money. And it is now beginning to impact
consumption. This may indeed be bad news for an economy that is struggling to
transition from an investment-driven export-oriented economy to a domestic
consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term : Fund Based Limit = A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
November 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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Avaya Kumar Pati |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-11-66544300 |
|
Date : |
28.07.2014 |
LOCATIONS
|
Registered Office : |
House No. 16/103, Ground Floor, Rajendra Nagar, Borivali (East), Mumbai-400066, Maharashtra, India |
|
Tel. No.: |
91-22-28708409 |
|
Fax No.: |
Not Available |
|
Email Id: |
|
|
|
|
|
Branch : |
Plot No. 8, A-2, Khasra No. 659/2, Near Tivoli Garden, New
Delhi-110074, India |
|
Tel. No.: |
91-11-66544300 |
|
Fax No.: |
91-11-26303804 |
DIRECTORS
As on 15.05.2013
|
Name : |
Mr. Siddharth bindra |
|
Designation : |
Managing Director |
|
Address : |
F-4, Ansal Villa, Near CSKM School, Satbari, New Delhi-110030, Delhi,
India |
|
Date of Birth/Age : |
04.10.1974 |
|
Date of Appointment : |
10.07.2002 |
|
DIN No.: |
01680498 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the Company/ LLP |
Current designation of the Director/ Designated Partner |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company/ LLP Status |
Defaulting status |
|
1 |
U99999DL1996PTC233608 |
MEENA AGRITECH PRIVATE LIMITED |
Director |
01-08-96 |
01-08-96 |
- |
Active |
NO |
|
2 |
U18100MH2002PTC136468 |
BIBA APPARELS PRIVATE LIMITED |
Managing director |
01-03-13 |
10-07-02 |
- |
Active |
NO |
|
3 |
U52609DL2006PTC156068 |
DHANVAN IMPEX PRIVATE LIMITED |
Director |
30-11-06 |
30-11-06 |
- |
Active |
NO |
|
4 |
U52599DL2006PTC156056 |
KAVERI TRADEX PRIVATE LIMITED |
Director |
30-11-06 |
30-11-06 |
- |
Active |
NO |
|
5 |
U74899DL1994PTC061984 |
KHATTAR ESTATES PRIVATE LIMITED |
Director |
27-03-07 |
27-03-07 |
- |
Active |
NO |
|
6 |
U18109DL2012PTC241536 |
IMA CLOTHING PRIVATE LIMITED |
Director |
17-09-12 |
17-09-12 |
25-03-14 |
Active |
NO |
|
7 |
L40200DL1968PLC005169 |
SOMANY CERAMICS LIMITED |
Additional director |
26-05-14 |
26-05-14 |
- |
Active |
NO |
|
Name : |
Mrs. Meena Satish Bindra |
|
Designation : |
Director |
|
Address : |
F-4, Ansal Villa, Near CSKM School, Satbari, New Delhi-110030, Delhi,
India |
|
Date of Birth/Age : |
16.06.1943 |
|
Date of Appointment : |
10.02.2002 |
|
DIN No.: |
01627149 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the Company/ LLP |
Current designation of the Director/ Designated Partner |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company/ LLP Status |
Defaulting status |
|
1 |
U99999DL1996PTC233608 |
MEENA AGRITECH PRIVATE LIMITED |
Director |
01-08-96 |
01-08-96 |
- |
Active |
NO |
|
2 |
U18100MH2002PTC136468 |
BIBA APPARELS PRIVATE LIMITED |
Director |
10-07-02 |
10-07-02 |
- |
Active |
NO |
|
3 |
U52609DL2006PTC156068 |
DHANVAN IMPEX PRIVATE LIMITED |
Director |
30-11-06 |
30-11-06 |
16-08-13 |
Active |
NO |
|
4 |
U52599DL2006PTC156056 |
KAVERI TRADEX PRIVATE LIMITED |
Director |
30-11-06 |
30-11-06 |
16-08-13 |
Active |
NO |
|
5 |
U18109DL2012PTC241536 |
IMA CLOTHING PRIVATE LIMITED |
Director |
10-06-13 |
24-09-12 |
25-03-14 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Avaya Kumar Pati |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 15.05.2013
|
Names of Shareholders |
No. of Shares |
|
Meena Bindra |
70400 |
|
Kaveri Tradex Private Limited |
17740 |
|
Shradha Bindra |
15000 |
|
Saurabh Modi |
4500 |
|
Future Venture India Limited |
132850 |
|
Dhanvan Impex Private Limited |
40000 |
|
Siddharth Bindra |
189010 |
|
TOTAL |
469500 |
Equity Share Break up (Percentage of Total Equity)
As on 15.05.2013
|
Category |
Percentage |
|
Bodies corporate |
40.60 |
|
Directors or relatives of Directors |
58.44 |
|
Other top fifty shareholders |
0.96 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Dealers, Exporters, Hires, Makers,
Repairers, Alters, Commission Agents and Agents of All Readymade Garments,
Clothes for Men, Women and Children. |
GENERAL INFORMATION
|
No. of Employees : |
Management Non Co-operative |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
YES Bank Limited, 9th Floor, Nehru Center,
Discovery of India, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra,
India ·
ICICI Bank Limited, ICICI Bank Towers, Bandra
Kurla Complex, Mumbai-400051, Maharashtra, India · IDBI Bank Limited · Kotak Mahindra Bank Limited ·
Axis Bank Limited |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
SECURED
LOAN (Rs.
In Millions)
Notes : Long Term Borrowings Term loan from Tata capital Limited are secured by a pari
passu charge on the company's stocks, book debts and other receivables and
personal guarantee by directors and pledge of shares by them. The loan of Rs
2 crores taken from Tata Capital during the FY 2010-2011, carries interest
ranging from 12.75% to 13.50% per annum and is repayable in 36 equal
installments. The loan of Rs 3 crores taken from Tata Capital during the FY 2011-2012 carries interest ranging from 13% to 15% per annum and is repayable in 36 equal installments. Term loan from Kotak Mahindra bank is secured by a pari passu charge on the company's stocks, book debts and other receivables and personal guarantee by directors. The loan taken from Kotak Mahindra Bank carries interest @12.60% per annum and is repayable in 36 equal installments. Vehicle loan taken from Kotak Mahindra carries interest @11.50% per annum and is repayable in 5 years. Vehicle loan taken from Sundram Finance carries interest @14.00% per annum and is repayable in 3 years. Vehicle loan taken from HDFC Bank Limited carries interest @11.25% per annum and is repayable in 4 years. Short Term
Borrowings Cash credit loan taken from IDBI Bank Limited by a pari passu charge by way of hypothecation of entire current assets of the company both present and future , exclusive pledge of 10% of equity shares held by the promoters in the company, personal guarantee by directors and negative lien on 16% shares of the promoters. Cash credit loan from Kotak Mahindra bank is secured by a pari passu charge on the company's stocks, book debts and other receivables and personal guarantee by directors and pledge of shares by them. WCDL taken from Axis Bank Limited a pari passu charge by way of hypothecation of entire current assets of the company and personal guarantee by directors Term loan from Future Venture India Limited is secured by
negative lien on 10% of promoters holding and personal guarantee of
promoters. |
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Walker Chandok and Associates Chartered Accountants |
|
Address : |
L-41conaught, Circus, New Delhi – 110001, Delhi,
India |
|
PAN No.: |
AAAFW4298E |
|
|
|
|
Associates/Subsidiaries : |
· IMA Clothing Private Limited (CIN No. U18109DL2012PTC241536) · Meena Agritech Private Limited (CIN No. U99999DL1996PTC233608) · Kaveri Tradex Private Limited (CIN No. U52599DL2006PTC156056) · Future Ventures India Limited (CIN No. L52602MH1996PLC192090) |
CAPITAL STRUCTURE
As on 15.05.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
Rs.100/- each |
Rs. 60.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
469500 |
Equity Shares |
Rs.100/-
each |
Rs. 46.950
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 |
46.950 |
46.950 |
46.950 |
|
(b) Reserves & Surplus |
936.755 |
633.474 |
447.564 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
983.705 |
680.424 |
494.514 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
23.624 |
15.687 |
6.661 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.573 |
4.138 |
5.612 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
24.197 |
19.825 |
12.273 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
175.051 |
130.548 |
59.192 |
|
(b) Trade payables |
129.924 |
119.347 |
177.855 |
|
(c) Other current liabilities |
63.568 |
85.374 |
60.558 |
|
(d) Short-term provisions |
97.472 |
65.512 |
46.895 |
|
Total Current Liabilities (4) |
466.015 |
400.781 |
344.500 |
|
|
|
|
|
|
TOTAL |
1473.917 |
1101.030 |
851.287 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
131.744 |
101.509 |
76.816 |
|
(ii) Intangible Assets |
8.716 |
4.599 |
4.390 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
6.987 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
15.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
11.293 |
8.735 |
2.257 |
|
(d) Long-term Loan and Advances |
105.416 |
65.942 |
49.634 |
|
(e) Other Non-current assets |
1.206 |
1.027 |
0.000 |
|
Total Non-Current Assets |
273.375 |
181.812 |
140.084 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
|
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
497.635 |
404.714 |
357.052 |
|
(d) Cash and cash
equivalents |
604.840 |
415.141 |
306.689 |
|
(e) Short-term loans and
advances |
15.901 |
18.700 |
22.523 |
|
(f) Other current assets |
82.166 |
80.663 |
24.939 |
|
Total Current Assets |
1200.542 |
919.218 |
711.203 |
|
|
|
|
|
|
TOTAL |
1473.917 |
1101.030 |
851.287 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
2106.918 |
1730.578 |
1365.452 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
1540.697 |
1356.362 |
1165.072 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
566.221 |
374.216 |
200.380 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
39.268 |
33.814 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
526.953 |
340.402 |
200.380 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
46.115 |
35.013 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
480.838 |
305.389 |
200.380 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
158.846 |
107.951 |
62.885 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
321.992 |
197.438 |
137.495 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
68.60 |
42.10 |
29.30 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
15.28 |
11.41 |
10.07 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
33.22 |
27.96 |
23.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.49 |
0.45 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.20 |
0.21 |
0.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.58 |
2.29 |
2.06 |
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 |
46.950 |
46.950 |
46.950 |
|
Reserves & Surplus |
447.564 |
633.474 |
936.755 |
|
Net
worth |
494.514 |
680.424 |
983.705 |
|
|
|
|
|
|
long-term borrowings |
6.661 |
15.687 |
23.624 |
|
Short term borrowings |
59.192 |
130.548 |
175.051 |
|
Total
borrowings |
65.853 |
146.235 |
198.675 |
|
Debt/Equity
ratio |
0.133 |
0.215 |
0.202 |
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 |
1365.452 |
1730.578 |
2106.918 |
|
|
|
26.740 |
21.746 |
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 |
1365.452 |
1730.578 |
2106.918 |
|
Profit |
137.495 |
197.438 |
321.992 |
|
|
10.07% |
11.41% |
15.28% |
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 |
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 |
---------------------- |
|
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 |
Note:
The registered office of the company has been shifted from
Ground Floor, Reliable House, Hanuman Silk Mill Compound, Kanjurmarg (West), Mumbai-400078,
Maharashtra, India to present address w.e.f. 20.11.2013
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans from related
parties |
|
|
|
From Religare Investment Limited |
0.000 |
0.170 |
|
Total |
0.000 |
0.170 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10447182 |
16/07/2013 |
30,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. |
B84098722 |
|
2 |
10389552 |
09/11/2012 |
50,000,000.00 |
AXIS BANK LIMITED |
2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, |
B63180913 |
|
3 |
10375996 |
05/09/2012 |
100,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
15 - 16, UGF, AMBADEEP BUILDING,, 14 K G MARG, NEW DELHI-110001, DELHI, INDIA |
B57915258 |
|
4 |
10356247 |
30/12/2011 |
200,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI- 400005, MAHARASHTRA, INDIA |
B37131968 |
* Date of charge modification
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] 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. 101.92 |
|
Euro |
1 |
Rs. 80.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUM |
|
|
|
|
Analysis Done by
: |
HEN |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
53 |
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.