MIRA INFORM REPORT
|
Report Date : |
02.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
PIL INDUSTRIES LIMITED (w.e.f. 06.12.2010) |
|
|
|
|
Formerly Known
As : |
PANTALOON INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
Knowledge House, Shyam Nagar, Off Jogeshwari Vikhroli Link Road,
Jogeshwari (East), Mumbai – 400060, Maharashtra (w.e.f. 01.11.2013) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
15.07.1987 |
|
|
|
|
Com. Reg. No.: |
11-044078 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.66.052 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1987PLC044078 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP16930E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP9866D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the Design, Manufacture, and Trade of Fabrics and
also involved in Share Business. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
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 a part of future group. It is an established company having moderate track record. Management of the company has not filed its financials after the year
2012 with the government department. As per previous year financials of 2012 there are huge accumulated losses
recorded by the company which has resulted into fully erosion of networth. However, trade relations are reported to be fair. Business is active.
Payment terms are reported to be slow but correct. In view of strong group 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.
ECGC
Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever bond
offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation
raised 175 million Swiss Francs by selling five year bonds at 2.98 % coupon
rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Fund Based Facilities=BB+ |
|
Rating Explanation |
Moderate risk of default. |
|
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
31-03-2012.
INFORMATION DENIED
Management Non-Cooperative (91-22-30842200)
LOCATIONS
|
Registered Office : |
Knowledge House, Shyam Nagar, Off Jogeshwari Vikhroli Link Road,
Jogeshwari East, Mumbai – 400060, Maharashtra, India (w.e.f. 01.11.2013) |
|
Tel. No.: |
91-22- 30842200 / 30841300 |
|
Fax No.: |
91-22-30842201 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Vijay Laxminarayan Biyani |
|
Designation : |
Director |
|
Address : |
305, Jeevan Vihar, Manav Mandir Road, Malabhar Hill, Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
04.07.1959 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.10.1991 |
|
DIN No.: |
00005827 |
|
|
|
|
Name : |
Mr. Anil Laxminarayan Biyani |
|
Designation : |
Director |
|
Address : |
305, Jeevan Vihar, Manav Mandir Road, Malabhar Hill, Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
13.12.1963 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
00005834 |
|
|
|
|
Name : |
Mr. Sunil Gopikishan Biyani |
|
Designation : |
Director |
|
Address : |
304, Jeevan Vihar, Manav Mandir Road, Malabhar Hill, Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
24.10.1969 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
00006583 |
MAJOR SHAREHOLDERS
AS ON 30.09.2011
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
|
Equity Share Breakup |
Percentage of Holding |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
0.20 |
|
Bodies
corporate |
96.96 |
|
Other
top fifty shareholders |
0.84 |
|
Others |
2.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the Design, Manufacture, and Trade of Fabrics
and also involved in Share Business. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||
|
Bankers : |
·
Central Bank of India, Corporate Finance Branch,
1st Floor, Mahatma Gandhi Road, Fort, Mumbai – 400023,
Maharashtra, India ·
Deutsche Bank AG, Floor 2, Hazarimal Somani Marg,
Fort, Mumbai – 400023, Maharashtra, India ·
United
Bank of India, 25, Sir P M Road, Fort, Mumbai – 400001, Maharashtra, India |
||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
NGS and Company Chartered Accountants |
|
Address : |
B/46, 3rd Floor, Pravasi Industrial Estate, Vishweshwar Nagar Road,
Goregaon (East), Mumbai – 400063, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFS3313D |
|
|
|
|
Holding Company : |
ESES Commercials Private Limited |
|
|
|
|
Subsidiaries : |
·
Weavette Tex styles Limited
[U17100MH1994PLC083596] ·
WholeWealth Limited (w.e.f. 08.06.2010) ·
Indus-League Clothing Limited
[U85110MH1998PLC226134] |
|
|
|
|
Fellow Subsidiaries : |
·
Fashion Global Retail Limited
[U51909MH2005PLC174301] ·
Bansi Mall Management Company Private Limited [U70100MH2005PTC156869] ·
Future Corporate Resources Limited [U51100MH2005PLC156856] ·
Future Outdoor Media Solutions Limited
[U22300MH2008PLC181041] ·
Kamadgiri Fashion Limited [L17120MH1987PLC042424] |
|
|
|
|
Joint Ventures : |
·
Sain Advisory Services Private Limited ·
Sprint Advisory Services Private Limited
[U51909MH2005PTC151869] ·
Shendra Advisory Services Private Limited
[U45200MH2005PTC157267] |
|
|
|
|
Related Party : |
·
Dhanshree Fashions Private Limited
[U17100MH2004PTC143809] ·
Manz Retail Private Limited (TRF.) [U51909MH1994PTC156437] ·
Vishnu Mall Management Private Limited
[U70200MH2007PTC170246] |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
1,000,000 |
11% Non- Cumulative Redeemable
Preference Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
15,000,000 |
0.1% Convertible Preference Shares |
Rs.20/- each |
Rs.300.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.410.000 Millions |
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,745,821 |
Equity Share |
Rs.10/- each |
Rs.67.458
Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,605,241 |
Equity Share |
Rs.10/- each |
Rs.66.052
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 |
|
66.052 |
66.052 |
|
(b) Reserves & Surplus |
|
(164.447) |
43.782 |
|
(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) |
|
(98.395) |
109.834 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
4775.572 |
5120.514 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
999.875 |
|
(d) long-term
provisions |
|
0.075 |
0.039 |
|
Total Non-current
Liabilities (3) |
|
4775.647 |
6120.428 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
3833.402 |
2452.334 |
|
(b) Trade
payables |
|
1903.748 |
837.215 |
|
(c) Other
current liabilities |
|
12.538 |
9.997 |
|
(d) Short-term
provisions |
|
1.027 |
0.468 |
|
Total Current
Liabilities (4) |
|
5750.715 |
3300.014 |
|
|
|
|
|
|
TOTAL |
|
10427.967 |
9530.276 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
77.977 |
82.995 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
5619.142 |
4944.691 |
|
(c) Deferred tax assets (net) |
|
0.000 |
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 |
|
5697.119 |
5027.686 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
2246.146 |
2787.921 |
|
(c) Trade
receivables |
|
1791.983 |
1057.222 |
|
(d) Cash
and cash equivalents |
|
126.020 |
216.144 |
|
(e)
Short-term loans and advances |
|
566.699 |
441.303 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
4730.848 |
4502.590 |
|
|
|
|
|
|
TOTAL |
|
10427.967 |
9530.276 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
66.052 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
280.815 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
346.867 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
844.951 |
|
|
2] Unsecured Loans |
|
|
2179.674 |
|
|
TOTAL BORROWING |
|
|
3024.625 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3371.492 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
86.812 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
4073.117 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
687.531 |
|
|
Sundry Debtors |
|
|
563.349 |
|
|
Cash & Bank Balances |
|
|
13.873 |
|
|
Other Current Assets |
|
|
0.172 |
|
|
Loans & Advances |
|
|
335.328 |
|
Total
Current Assets |
|
|
1600.253 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
2452.802 |
|
|
Provisions |
|
|
0.698 |
|
Total
Current Liabilities |
|
|
2453.500 |
|
|
Net Current Assets |
|
|
(853.247) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
PROFIT LOSS DEBIT BALANCE |
|
|
64.810 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3371.492 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7141.208 |
2276.612 |
1711.735 |
|
|
|
Other Income |
43.326 |
27.500 |
34.790 |
|
|
|
TOTAL (A) |
7184.534 |
2304.112 |
1746.525 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
6939.893 |
2028.224 |
1389.725 |
|
|
|
Employee benefit Expenses |
3.589 |
0.371 |
(2.464) |
|
|
|
Other Expenses |
6.267 |
8.183 |
31.751 |
|
|
|
TOTAL (B) |
6949.749 |
2036.778 |
1419.012 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
234.785 |
267.334 |
327.513 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
437.967 |
434.490 |
309.057 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(203.182) |
(167.156) |
18.456 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
5.047 |
5.035 |
6.162 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS BEFORE
TAX (E-F) (G) |
(208.229) |
(172.191) |
12.294 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.032 |
(2.036) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
AFTER TAX (G-H) (I) |
(208.229) |
(172.223) |
14.330 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(237.033) |
(64.810) |
(79.140) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(445.262) |
(237.033) |
(64.810) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(31.52) |
(26.07) |
2.17 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(2.90)
|
(7.47) |
0.82 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.92)
|
(7.56) |
0.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.33)
|
(3.76) |
0.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(2.12)
|
(1.57) |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
87.49
|
68.95 |
8.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.82
|
1.36 |
0.65 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
66.052 |
66.052 |
|
Reserves & Surplus |
43.782 |
(164.447) |
|
Net
worth |
109.834 |
(98.395) |
|
|
|
|
|
long-term borrowings |
5,120.514 |
4,775.572 |
|
Short term borrowings |
2,452.334 |
3,833.402 |
|
Total
borrowings |
7,572.848 |
8,608.974 |
|
Debt/Equity
ratio |
68.948 |
(87.494) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
|
Sales |
1,711.735 |
2,276.612 |
7,141.208 |
|
|
|
33.000 |
213.677 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1,711.735 |
2,276.612 |
7,141.208 |
|
Profit |
14.330 |
(172.223) |
(208.229) |
|
|
0.84% |
(7.56%) |
(2.92%) |
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 |
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONAL REVIEW AND YEAR IN RETROSPECT:
During the year,
subject has earned total revenue of Rs.7184.534 Millions (including Rs.43.326
Millions other income) as compared to Rs.2304.112 Millions (including Rs.27.500
Millions other income) for the previous accounting year. The Loss after tax for
the year was Rs.208.230 Millions as against loss of Rs.172.223 Millions
previous year. The Global and Domestic markets have been volatile throughout
the year affecting the business environment in the Country. Uncertainty of
liquidity in the market has also impacted cost of the borrowing of subject.
Subject is looking for various mode and means to reduce the debt and improve
margin / profitability of subject in coming years.
UNSECURED LOANS:
|
Particulars |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Other Loans and
Advances |
3727.641 |
2373.524 |
|
|
|
|
|
Total |
3727.641 |
2373.524 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10425904 |
11/05/2013 |
1,000,000,000.00 |
CENTRAL
BANK OF INDIA |
CORPORATE
FINANCE BRANCH, MMO BUILDING,, 1ST FLOOR, FORT, MUMBAI - 400023, MAHARASHTRA, INDIA |
B75194266 |
|
2 |
10236672 |
23/07/2010 |
3,120,000,000.00 |
DEUTSCHE
BANK AG (THROUGH ITS NEW DELHI BRANCH) |
FLOOR
2, HAZARIMAL SOMANI MARG, FORT, MUMBAI - 400023, MAHARASHTRA, INDIA |
A91271395 |
|
3 |
10214288 |
31/03/2010 |
500,000,000.00 |
UNITED
BANK OF INDIA |
25, SIR
P M ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA |
A83858324 |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Electrical Installations
·
Air Conditioner
·
Computer/ Printers
·
Office Equipments
·
Furniture and Fixture
·
Vehicle
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.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
29 |
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.