MIRA INFORM REPORT
|
Report Date : |
16.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SCHOTT GLASS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Dynasty, A-Wing, 303 and 304, 3rd Floor, Opposite Sangam, Theatre,
Andheri – Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
05.12.1997 |
|
|
|
|
Com. Reg. No.: |
11 -112295 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 671.679 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26100MH1997PTC112295 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDS01425E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS8583L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Neutral Glasses. |
|
|
|
|
No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of “Schott Glaswerke Beteiligungs Gmbh”. It is
an established company having moderate track. The company possesses a moderate financial profile marked by consecutive
losses since 2011-12 due to which the reserves of the company are gradually
deteriorating during 2013. Further, the management undertakes working capital intensive
operations which increases the reliance on short term debt. The ratings also take into consideration the established brand
position in India, as the plant established in India is a dedicated unit for
manufacturing special glass tubes for pharmaceutical packaging branded as
“Fiolax” which are used almost by all pharmaceutical companies in India. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. In view of technical, managerial and financial support from its
holding company, the subject 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
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.
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. Prakash |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-2644-220216 |
|
Date : |
16.06.2014 |
LOCATIONS
|
Registered Office : |
Dynasty, A-Wing, 303 and 304, 3rd Floor, Opposite Sangam,
Theatre, Andheri – |
|
Tel No.: |
91-22-28266100 / 40947000 |
|
Fax No.: |
91-22-28266097 / 40947001 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Village-Ankhi, Taluka-Jambusar, District-Bharuch, |
|
Tel. No.: |
91-2644220216 / 222573 |
|
Fax No.: |
91-2644220227 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Pune Office : |
307, South Wing, Sacred World, Wanwadi Pune - 411040 India |
|
Tel. No.: |
91-20-40091695 |
|
Fax No.: |
91-20-40092273 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Supransu Bandyopadhyay |
|
Designation : |
Whole time director |
|
Address : |
401, Srimadh Apartment, Nilkantha Society, Beside Krishna Duplex, Vasna Road, Vadodara – 390015, Gujarat, India |
|
Date of Birth/Age : |
28.05.1961 |
|
Date of Appointment : |
13.11.2008 |
|
DIN No.: |
02434434 |
|
|
|
|
Name : |
Mr. Stefan Anreas Laetsch |
|
Designation : |
Director |
|
Address : |
Novel Century, Tower 11 and 12, Lane 81, Xin Geng Road, Xuhui District, Shama Xujiahlii, Shanghai, 200030, China_ |
|
Date of Birth/Age : |
04.08.1963 |
|
Date of Appointment : |
18.05.2010 |
|
DIN No.: |
03067795 |
|
|
|
|
Name : |
Mr. Georg Helmut Sparschuh |
|
Designation : |
Director |
|
Address : |
401 Sangeet Flats, 18, Abhishek Colony, Near Bank Race Course, Vadodara - 39007, Gujarat, India |
|
Date of Birth/Age : |
25.02.1961 |
|
Date of Appointment : |
25.08.2011 |
|
DIN No.: |
03602395 |
|
|
|
|
Name : |
Mr. Patrick Markschlaeger |
|
Designation : |
Director |
|
Address : |
14 A, Fuchsturmweg, Jena, Germany 07749 |
|
Date of Birth/Age : |
30.04.1966 |
|
Date of Appointment : |
12.03.2013 |
|
DIN No.: |
06513162 |
KEY EXECUTIVES
|
Name : |
Mr. Prakash |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
SHAREHOLDING DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Neutral Glasses. |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
||||||||
|
Exports : |
|
||||||||
|
Products : |
Finished Goods |
||||||||
|
Countries : |
|
||||||||
|
|
|
||||||||
|
Imports : |
|
||||||||
|
Products : |
Raw Materials |
||||||||
|
Countries : |
|
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
L/C and Credit |
||||||||
|
|
|
||||||||
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
350 (Approximately) |
|
|
|
|
Bankers : |
Deutsche Bank, Hazarimal Somani Marg, Fort, Mumbai-400001, Maharashtra, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Associates Chartered Accountants |
|
Address : |
2nd Floor Shivalik Ishaan, Near C.N. Vidhyalaya, Ambavadi, Ahemdabad-380015, Gujarat, India |
|
PAN.: |
ACHFS9118A |
|
|
|
|
Holding Company : |
Schott Glaswerke Betriligungs GmbH |
|
|
|
|
Ultimate Holding Company: |
Schott AG, Mainz, Germany |
|
|
|
|
Other related
parties Subsidiaries, Joint Venture and Associates of holding / ultimate
holding company: |
|
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
95990000 |
Equity Shares |
Rs. 10/- each |
Rs. 959.900 Millions |
|
10000 |
Preference Share |
Rs. 10/- each |
Rs. 0.100 Million |
|
|
Total
|
|
Rs.
960.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
95167769 |
Equity Shares |
Rs. 10/- each |
Rs.951.678 Millions |
|
162 |
Preference Share |
Rs. 10/- each |
Rs.0.001 Million |
|
|
Total |
|
Rs. 951.679 Millions |
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
69990000 |
Equity Shares |
Rs. 10/- each |
Rs. 699.900 Millions |
|
10000 |
Preference Share |
Rs. 10/- each |
Rs. 0.100 Million |
|
|
Total
|
|
Rs.
700.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
67167769 |
Equity Shares |
Rs. 10/- each |
Rs.671.678 Millions |
|
162 |
Preference Share |
Rs. 10/- each |
Rs. 0.001 Million |
|
|
Total |
|
Rs. 671.679 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 |
671.679 |
671.681 |
671.681 |
|
(b) Reserves & Surplus |
147.966 |
168.722 |
190.367 |
|
(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) |
819.645 |
840.403 |
862.048 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
148.177 |
384.776 |
518.532 |
|
(b) Deferred tax liabilities
(Net) |
85.248 |
70.182 |
86.689 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
87.116 |
84.129 |
23.886 |
|
Total
Non-current Liabilities (3) |
320.541 |
539.087 |
629.107 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
848.788 |
552.349 |
623.872 |
|
(b) Trade payables |
230.155 |
299.375 |
120.737 |
|
(c) Other current liabilities |
395.806 |
202.025 |
181.801 |
|
(d) Short-term provisions |
4.524 |
1.105 |
1.371 |
|
Total
Current Liabilities (4) |
1479.273 |
1054.854 |
927.781 |
|
|
|
|
|
|
TOTAL |
2619.459 |
2434.344 |
2418.936 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1283.032 |
1468.797 |
1420.237 |
|
(ii) Intangible Assets |
1.114 |
1.395 |
0.983 |
|
(iii) Capital work-in-progress |
231.531 |
23.619 |
3.212 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
79.814 |
178.057 |
130.341 |
|
(e) Other Non-current assets |
0.000 |
2.074 |
1.961 |
|
Total
Non-Current Assets |
1595.491 |
1673.942 |
1556.734 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
508.150 |
345.378 |
392.073 |
|
(c) Trade receivables |
389.631 |
326.163 |
331.265 |
|
(d) Cash and cash equivalents |
6.140 |
5.441 |
15.364 |
|
(e) Short-term loans and
advances |
113.629 |
83.420 |
123.500 |
|
(f) Other current assets |
6.418 |
0.000 |
0.000 |
|
Total
Current Assets |
1023.968 |
760.402 |
862.202 |
|
|
|
|
|
|
TOTAL |
2619.459 |
2434.344 |
2418.936 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue |
1708.030 |
1526.143 |
1222.147 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
350.467 |
248.634 |
303.666 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
96.172 |
99.118 |
112.545 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION |
254.295 |
92.915 |
191.110 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
203.044 |
138.521 |
105.466 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
51.251 |
(45.606) |
85.644 |
|
|
|
|
|
|
|
|
|
|
TAX |
72.007 |
(23.961) |
23.993 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(20.756) |
(21.645) |
61.651 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.22) |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.15
|
(1.89) |
3.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
(0.05) |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.22
|
1.12 |
1.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.69
|
0.72 |
0.93 |
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 |
671.681 |
671.681 |
671.679 |
|
Reserves & Surplus |
190.367 |
168.722 |
147.966 |
|
Net
worth |
862.048 |
840.403 |
819.645 |
|
|
|
|
|
|
long-term borrowings |
518.532 |
384.776 |
148.177 |
|
Short term borrowings |
623.872 |
552.349 |
848.788 |
|
Total
borrowings |
1,142.404 |
937.125 |
996.965 |
|
Debt/Equity
ratio |
1.325 |
1.115 |
1.216 |
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) |
|
Revenue |
1222.147 |
1526.143 |
1708.030 |
|
|
|
24.874 |
11.918 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue |
1222.147 |
1526.143 |
1708.030 |
|
Profit |
61.651 |
(21.645) |
(20.756) |
|
|
5.04% |
(1.42%) |
(1.22%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
347.791 |
181.992 |
0.141
|
|
|
|
|
|
|
Total |
347.791 |
181.992 |
0.141
|
|
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 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
LITIGATION DETAILS
CASE DETAILS
BENCH:-BOMBAY
|
Lodging No.:- |
ITXAL/195/2012 |
Filing Date:- |
13/02/2012 |
Reg. No.:- |
ITXA/1160/2012 |
Reg. Date:- |
11/10/2012 |
|
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX - 8 |
Respondent:- |
SCHOTT GLASS INDIA PRIVATE LIMITED |
|
|
|
Petn.Adv.:- |
Arvind Pinto (1892) |
|
|
District:- |
MUMBAI |
|
Bench:- |
DIVISION |
||||
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
|
Next Date:- |
05/05/2014 |
Stage:- |
FOR ADMISSION |
|
Coram:- |
HON'BLE SHRI JUSTICE S.C. DHARMADHIKARI |
|
HON'BLE SHRI JUSTICE GIRISH S. KULKARNI |
|
Act :- |
Income Tax Act, 1961 |
Under Section:- |
260A |
BACKGROUND
Subject, 100% subsidiary of Schott Glaswerke Beteiligungs GmbH was incorporated on 5 December 1997. The Company has two divisions, Tubing Division and Trade Division. The Company has acquired the neutral glass tube manufacturing unit of Bharat Glass Tube Limited on 28 January 1998. The Company produces Clear (NGC), Amber (NGA) and Fiolax Clear glass for pharma packaging. The Company has started its Trading Division from October 1998 in Mumbai and is mainly in the business of marketing the products for different Schott Business Units.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term Borrowings |
|
|
|
Bonds |
0.061 |
0.146 |
|
Term loans from others |
148.116 |
384.630 |
|
Short-term
borrowings |
|
|
|
Rupee term loans from banks |
432.507 |
480.000 |
|
Working capital loans from banks |
416.280 |
72.349 |
|
Total |
996.964 |
937.125 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer equipments
- Office equipment
- Leasehold improvements
Intangible assets
- Computer software
PRESS RELEASES
SCHOTT INDIA ACQUITTED OF ANTI-COMPETITIVE CONDUCT
15.04.2014
Competition Appellate Tribunal rules in favor of SCHOTT India against the Competition Commission of India and Kapoor Glass Private Limited.
The Tribunal condemns Kapoor Glass’ act of forging SCHOTT India glass tubes as
a direct hazard to human lives
New Delhi, April 15, 2014 – The Competition Appellate Tribunal (CAT) has cleared SCHOTT India from all penalties and charges made under an Order of the Competition Commission of India (CCI) that had been initiated by Kapoor Glass Private Limited. SCHOTT India was falsely accused of abusing its strong position in the glass tubes market and granting discriminatory pricing and other favorable terms to its affiliated entity, SCHOTT KAISHA as compared to other converters in the market.
In July 2010, Kapoor Glass Private Limited (Kapoor), a converter and former
manufacturer of Glass Tubes, filed information with the CCI in which it
complained of alleged anti-competitive practices of SCHOTT India which affected
the competition in the market for Neutral USP Type I Borosilicate Glass Tubes
as well as in the downstream market for the Containers. After the CCI initially
decided against SCHOTT India, the case was referred to CAT.
In the CAT judgment, it was pointed out that SCHOTT KAISHA was a vertically
integrated subsidiary of the SCHOTT Group and that the quantity purchased by
SCHOTT KAISHA by far exceeded the purchases of any other converter company.
Better terms for SCHOTT KAISHA were therefore justified. The tribunal also
clarified that there was no negative impact on the downstream market for glass
tube containers and that the ultimate consumer did not suffer any damage as
alleged in Kapoor’s appeal.
The judges refuted CCI’s argument that favorable prices of SCHOTT India for
SCHOTT KAISHA had resulted in reduced profit margins for the other converters
and deprived them of their chance to grow. In addition, they rejected the
allegations by Kapoor that SCHOTT’s Standard Trademark License Agreement was unfair
and restrictive to the detriment of other converters.
Finally, CAT clearly denied any obligation of SCHOTT India to make deliveries
to Kapoor, which had been stopped in 2008. The special Tribunal established
that Kapoor had once forged SCHOTT India’s labels and thus committed a clear
and unabashed breach of trademarks. It condemned such act of forging as the
relevant products had a direct relation with human lives and serious
consequences could ensue on account of usage of inferior quality of glass tubes.
The Tribunal stated that it could not imagine the seriousness of the
consequences if Kapoor could pass off inferior quality glass with the help of
such faked labels.
About SCHOTT
SCHOTT is an international technology group with 130 years of experience in the
areas of specialty glasses and materials and advanced technologies. SCHOTT
ranks number one in the world with many of its products. Its core markets are
the household appliance, pharmaceutical, electronics, optics and transportation
industries. The company is strongly committed to contributing to its customers’
success and making SCHOTT an important part of people’s lives with high-quality
products and intelligent solutions. SCHOTT is committed to managing its
business in a sustainable manner and supporting its employees, society and the
environment. The SCHOTT Group maintains close proximity to its customers with
manufacturing and sales units in 35 countries. Its workforce of 15,400
employees generated worldwide sales of 1.84 billion euros for the 2012/2013
fiscal year. SCHOTT AG, with its headquarters in Mainz (Germany) is owned by
the Carl Zeiss Foundation.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.48 |
|
|
1 |
Rs.100.93 |
|
Euro |
1 |
Rs.80.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
34 |
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.