MIRA INFORM REPORT
|
Report Date : |
25.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SENCO GOLD LIMITED (w.e.f.31.08.2007) |
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|
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Formerly Known
As : |
SENCO GOLD PRIVATE LIMITED |
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Registered
Office : |
7 and 8 C.I.T. Road, Kolkata – 700014, West Bengal |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
22.08.1994 |
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|
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Com. Reg. No.: |
21-064637 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.177.286 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U36911WB1994PLC064637 |
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|
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TIN No.: |
19200946010 |
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PAN No.: [Permanent Account No.] |
AADCS6985J |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Gold and Diamond Jewelry. |
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|
|
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3700000 |
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|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a quarter
of a century. The data was below an official estimate of 4.9 % annual growth
and compared with 4.5 % in the last fiscal year. However, the current account
deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product,
in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before. A
sharp fall in gold imports due to restrictions on overseas purchases and muted
import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two. While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Ratings “BBB+” |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
30.04.2014 |
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 BY
|
Name : |
Mr. Surendra Gupta |
|
Designation : |
Secretary |
|
Contact No.: |
91-33-40215000 |
|
Date : |
23.06.2014 |
LOCATIONS
|
Registered Office : |
7 and 8 C.I.T. Road, Kolkata – 700014, West Bengal |
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Tel. No.: |
91-33-40215000 |
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Fax No.: |
91-33-22849180 |
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E-Mail : |
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Website : |
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Corporate Office : |
1001 Diamond Prestige, 10th Floor, 41A, AJC Bose Road,
Kolkata – 700017, West Bengal, India |
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Factory 1 : |
Manikanchan, SEZ, Kolkata, |
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Area : |
3000 Sq. ft. |
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Location : |
Owned |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Sankar P.C Sen |
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Designation : |
Managing Director |
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Address : |
11, Abdul Rasul Avenue, Kolkata – 700026, West Bengal, India |
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Date of Birth/Age : |
02.10.1957 |
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Date of Appointment : |
22.08.1994 |
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PAN No.: |
AKOPS6701Q |
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DIN No.: |
01178744 |
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Other Directorship :
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Name : |
Mr. Suvankar Sankar Sen |
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Designation : |
Whole Time Director |
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Address : |
11, Abdul Rasul Avenue, Kolkata – 700026, West Bengal, India |
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Date of Birth/Age : |
11.10.1983 |
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Date of Appointment : |
17.02.2005 |
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PAN No.: |
AUMPS0844A |
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DIN No.: |
01178803 |
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Other Directorship :
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Name : |
Mrs. Ranjana Sankar Sen |
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Designation : |
Director |
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|
Address : |
11, Abdul Rasul Avenue, Kolkata – 700026, West Bengal, India |
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Date of Birth/Age : |
23.05.1959 |
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Date of Appointment : |
22.08.1994 |
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PAN No.: |
AKOPS6726P |
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DIN No.: |
01226337 |
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Other Directorship :
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Name : |
Mrs. Arpita Didyut Dey |
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Designation : |
Director |
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Address : |
7 Raj Kumar Basu Lane, Kolkata – 700003, West Bengal, India |
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Date of Appointment : |
06.08.2013 |
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PAN No.: |
AQDPD0290N |
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DIN No.: |
06652221 |
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Name : |
Ms. Tapashi Hirendra Mullick |
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Designation : |
Director |
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Address : |
46 Muktaram Babu Street, Kolkata – 700007, West Bengal, India |
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Date of Appointment : |
06.08.2013 |
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PAN No.: |
ALCPM0662M |
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DIN No.: |
06652225 |
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KEY EXECUTIVES
|
Name : |
Mr. Surendra Gupta |
|
Designation : |
Secretary |
|
Address : |
1/114A, Azadgarh Regent Park, Kolkata – 700040, West Bengal, India |
|
Date of Birth/Age : |
03.08.1976 |
|
Date of Appointment : |
22.05.2013 |
|
PAN No.: |
ADXPG4694E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Sankar P.C Sen |
|
12654673 |
|
Ranjana Sankar Sen |
|
2778281 |
|
Suvankar Sankar Sen |
|
2294950 |
|
Anjana Sukhdeb Dutta |
|
175 |
|
Tapasi Hirendra Mullick |
|
175 |
|
Arpita Didyut Dey |
|
175 |
|
Susmita Goutam Das |
|
175 |
|
|
|
|
|
Total |
|
17728604 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
99.99 |
|
Others |
|
0.01 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Gold and Diamond Jewelry. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
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Banking
Relations : |
-- |
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Auditors : |
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|||||||||||||||||||||||||||
|
Name : |
BSSR and Company Chartered Accountants |
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|
Address : |
Building No.10, 8th Floor, Tower No-B, DLF Cyber
City, Phase-II, Gurgaon – 122002, Haryana, India |
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PAN No.: |
AAKFB4430H |
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Subsidiaries Companies : |
Senco Gold Impex Private Limited CIN No.: U36911WB2005PTC102778 Addyashakti Properties Private Limited PAN No.: AAKCA3397B |
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Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
Mangoe Construction Private Limited CIN No.: U45400WB2007PTC116187 |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21000000 |
Equity Shares |
Rs.10/- each |
Rs.210.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17728604 |
Equity Shares |
Rs.10/- each |
Rs.177.286
Million |
|
|
|
|
|
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 |
177.286 |
119.459 |
119.459 |
|
(b) Reserves & Surplus |
749.635 |
432.014 |
224.779 |
|
(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) |
926.921 |
551.473 |
344.238 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
97.686 |
108.611 |
53.745 |
|
(b) Deferred tax
liabilities (Net) |
3.666 |
1.505 |
0.000 |
|
(c)
Other long term liabilities |
3.908 |
2.213 |
1.813 |
|
(d)
long-term provisions |
4.506 |
2.048 |
3.610 |
|
Total
Non-current Liabilities (3) |
109.766 |
114.377 |
59.168 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1008.195 |
555.927 |
464.719 |
|
(b)
Trade payables |
298.288 |
209.878 |
77.744 |
|
(c)
Other current liabilities |
648.698 |
395.122 |
125.228 |
|
(d)
Short-term provisions |
107.251 |
53.540 |
59.609 |
|
Total
Current Liabilities (4) |
2062.432 |
1214.467 |
727.300 |
|
|
|
|
|
|
TOTAL |
3099.119 |
1880.317 |
1130.706 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
293.749 |
96.531 |
50.920 |
|
(ii)
Intangible Assets |
9.067 |
7.926 |
0.000 |
|
(iii)
Capital work-in-progress |
10.208 |
185.529 |
106.870 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b)
Non-current Investments |
102.000 |
102.000 |
10.000 |
|
(c)
Deferred tax assets (net) |
0.000 |
0.000 |
1.219 |
|
(d) Long-term Loan and Advances |
113.893 |
20.470 |
5.978 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
15.000 |
|
Total
Non-Current Assets |
528.917 |
412.456 |
189.987 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.822 |
|
(b)
Inventories |
2290.911 |
1320.048 |
854.074 |
|
(c)
Trade receivables |
37.531 |
15.146 |
37.535 |
|
(d)
Cash and cash equivalents |
220.262 |
113.357 |
36.935 |
|
(e)
Short-term loans and advances |
17.866 |
18.181 |
6.920 |
|
(f)
Other current assets |
3.632 |
1.129 |
4.433 |
|
Total
Current Assets |
2570.202 |
1467.861 |
940.719 |
|
|
|
|
|
|
TOTAL |
3099.119 |
1880.317 |
1130.706 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
9815.277 |
6779.713 |
5138.840 |
|
|
Other Income |
10.079 |
8.967 |
11.294 |
|
|
TOTAL |
9825.356 |
6788.680 |
5150.134 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
8040.249 |
5395.520 |
3933.098 |
|
|
Purchases of
Stock-in-Trade |
1507.285 |
1112.273 |
957.350 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(850.226) |
(465.178) |
(245.646) |
|
|
Employees benefits
expense |
55.324 |
31.086 |
27.123 |
|
|
Prior Period Items |
0.000 |
0.000 |
38.796 |
|
|
Other expenses |
367.311 |
249.525 |
162.833 |
|
|
TOTAL |
9119.943 |
6323.226 |
4873.554 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
705.413 |
465.454 |
276.580 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
84.109 |
67.767 |
42.506 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
621.304 |
397.687 |
234.074 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
22.828 |
8.884 |
5.722 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
598.476 |
388.803 |
228.352 |
|
|
|
|
|
|
|
Less |
TAX |
198.865 |
132.974 |
98.495 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
399.611 |
255.829 |
129.857 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
22.54 |
14.43 |
7.32 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.07 |
3.77 |
2.52 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.10 |
5.73 |
4.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.04 |
24.41 |
22.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.65 |
0.71 |
0.66 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.19 |
1.21 |
1.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25 |
1.21 |
1.29 |
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 |
119.459 |
119.459 |
177.286 |
|
Reserves & Surplus |
224.779 |
432.014 |
749.635 |
|
Net worth |
344.238 |
551.473 |
926.921 |
|
|
|
|
|
|
long-term borrowings |
53.745 |
108.611 |
97.686 |
|
Short term borrowings |
464.719 |
555.927 |
1008.195 |
|
Total borrowings |
518.464 |
664.538 |
1105.881 |
|
Debt/Equity ratio |
1.506 |
1.205 |
1.193 |
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 |
5138.840 |
6779.713 |
9815.277 |
|
|
|
31.931 |
44.774 |
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 |
5138.840 |
6779.713 |
9815.277 |
|
Profit |
129.857 |
255.829 |
399.611 |
|
|
2.53% |
3.77% |
4.07% |
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 |
Yes |
|
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was possible
only due to combination of the manufacturing skills of the Indian workforce and
the untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a global
voluntary regulatory standard on bank capital adequacy, stress testing and
market liquidity.
OPERATIONS
During the year, the Company along with its subsidiary M/s Senco Gold Impex Private Limited has recorded turnover of Rs.12799.200 Millions as against Rs.9548.400 Millions in the previous year. The Company has achieved the 44.78% growth on its turnover from last year. The financial performance at the EBIDATA level has increased with EBIDTA by 52.31 % as compared to the previous year which shows that in spite of the sales being hit by the high and volatile prices, there are sales for the availability of good quality products and brand loyalty of their customers.
Stocking levels were increased marginally and Company adopted the strategy of focusing on Quality Sales. Investments were made in improving their market shares in more profitable market segments and product mix.
Major marketing and Brand initiatives are being implemented to aggressively consolidate these gains and place the Company on a growth trajectory in the high end of the market.
FUTURE OUTLOOK
The Company has a positive outlook towards the growth of the business. Gold has been giving a good return as commodity. This has created a bullish sentiment for the customers and the off take is expected to increase. Gold Bars have seen growth with an investment focus. However, the challenge to overcome the price volatility and continue to generate interest in the minds of the Customer in times, when prices remains high, light weight designs and exclusive craftsmanship will be the focus to create a competitive edge.
Diamonds will be the other focus area. The Company will increase its range and expenditure on the product range in terms of branding is expected to rise. When gold prices are rising, diamond jewellery will be a ready substitute.
Gossip Lifestyle and Silver jewellery will be the third core focus. Since, the price of gold is very inconsistent in its nature; Gossip jewellery will serve the needs of customers, in terms of gifting or dressing up for occasions, the Gossip Lifestyle jewellery has huge growth opportunities.
The product competence and design creation of their Company has to have other marketing avenues. Hence, Pan India growth is the next focus of the Board of Directors. Acquisition of new properties for bigger showrooms in the city of Kolkata for branding and better customer experience will be a key for growth in the city.
LITIGATION DETAILS
|
Case Status : Pending |
||
|
Status of CIVIL SUITS (CS) 165 of 2012 |
||
|
M/S. ANJALI
JEWELLERS Vs. SENCO GOLD LIMITED |
||
|
|
||
|
Pet’s Adv. : VICTOR
MOSES AND COMPANY |
||
|
Res’s Adv. : |
||
|
|
||
|
Court No. : 18
Last Listed On : Saturday, May 12, 2012 |
||
|
|
||
|
Category : MONEY
CLAIMS/COMPESATION/DAMAGES/MESNE PROFITS |
||
|
|
||
|
||
|
Case Update on : Friday, June 14, 2013 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10457713 |
09/10/2013 |
50,000,000.00 |
ALLAHABAD BANK |
STEPHEN HOUSE BRANCH, 4, B. B. D. BAG (EAST), KOLKATA - 700001, WEST BENGAL, INDIA |
B88585096 |
|
2 |
10450913 |
24/09/2013 |
240,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH (CBB), 1, SHAKESPEARE SARANI, AC MARKET, 3RD FLOOR, KOLKATA - 700071, WEST BENGAL, INDIA |
B85682797 |
|
3 |
10396352 |
17/10/2013 * |
240,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH (CBB), 1, SHAKESPEARE SARANI, AC MARKET, 3RD FLOOR, KOLKATA - 700071, WEST BENGAL, INDIA |
B91083287 |
|
4 |
10367679 |
29/06/2012 |
250,000,000.00 |
ING VYSYA BANK LIMITED |
CITY CENTRE, 19, SYNAGOGUE STREET, KOLKATA - 700001, WEST BENGAL, INDIA |
B44479814 |
|
5 |
10358409 |
10/05/2012 * |
176,000,000.00 |
ING VYSYA BANK LIMITED |
CENTRE POING BUILDING, 21, HEMANTA BASU SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
B41778564 |
|
6 |
10340238 |
10/05/2012 * |
184,000,000.00 |
ING VYSYA BANK LIMITED |
CENTRE POING BUILDING, 21, HEMANTA BASU SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
B40722092 |
|
7 |
10308882 |
03/05/2012 * |
400,000,000.00 |
ALLAHABAD BANK (LEAD BANK) |
STEPHEN HOUSE BRANCH, 4, B. B. D. BAG (EAST), KOLKATA - 700001, WEST BENGAL, INDIA |
B38560280 |
|
8 |
10291755 |
03/05/2012 * |
400,000,000.00 |
ALLAHABAD BANK (LEAD BANK) |
STEPHEN HOUSE BRANCH, 4, B. B. D. BAG (EAST), KOLKATA - 700001, WEST BENGAL, INDIA |
B38560181 |
|
9 |
10291541 |
18/03/2014 * |
1,800,000,000.00 |
ALLAHABAD BANK (LEAD BANK) |
STEPHEN HOUSE BRANCH, 4, B. B. D. BAG (EAST), KOLKATA - 700001, WEST BENGAL, INDIA |
C00258145 |
|
10 |
10068258 |
30/04/2010 * |
628,100,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, SAMRIDDHI BHAWAN, BLOCK - A, 1, STRAND ROAD, KOLKATA - 700001, WEST BENGAL, INDIA |
A86228608 |
* Date of charge modification
FIXED ASSETS
- Plant and Equipment
- Furniture and fixtures
- Computer Software
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.60.11 |
|
|
1 |
Rs.102.32 |
|
Euro |
1 |
Rs.81.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
47 |
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.