MIRA INFORM REPORT
|
Report Date : |
11.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
NAGARJUNA OIL CORPORATION LIMITED (w.e.f. 16.06.1999) |
|
|
|
|
Formerly Known
As : |
PENNAR REFINERIES LIMITED (w.e.f. 10.04.1995) RASHMI COMPUTER FORMS PRIVATE LIMITED |
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Registered
Office : |
MD Chambers, New No. 53 (Old No. 31), Dr. Radhakrishnan Salai,
Mylapore, Chennai – 600004, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
20.05.1991 |
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Com. Reg. No.: |
18-20837 |
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Capital
Investment / Paid-up Capital : |
Rs.16592.916 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30006TN1991PLC020837 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
CHEN02204G |
|
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PAN No.: [Permanent Account No.] |
AAACN9369E |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject offers Liquefied Petroleum Gas, Aviation Turbine Fuel, Motor
Spirit, Coke, Sulphur and Fuel Oil. |
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|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 71000000 |
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|
|
Status : |
Project under implementation |
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Payment Behaviour : |
Unknown |
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Litigation : |
Exist |
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Comments : |
Even though the company was incorporated during 20th May
1991. The company project is under implementation. As per latest financial of 2013, the company has incurred huge pre operating
expenses. Further external borrowing of the company seems to be increasing
over a year. As per the status in the registrar of companies business appears to be
active. Payment terms are unknown. The company can be considering for business dealing with great
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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry retained
its status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
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 DECLINED
Management Non-Cooperative (91-44-28431000)
LOCATIONS
|
Registered Office / Corporate Office : |
MD Chambers, New No. 53 (Old No. 31), Dr. Radhakrishnan Salai,
Mylapore, Chennai – 600004, Tamilnadu, India |
|
Tel. No.: |
91-44-28119008/ 9/ 10/ 28119016, 28119056, 28114578/ 4579 / 28431000 |
|
Fax No.: |
91-44-28119002/ 28119058/ 28119056 |
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E-Mail : |
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|
Website : |
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|
Refinery Project
Site Address : |
Kayalpattu Village, Poochimedu , Cuddalore
District -608801, Tamilnadu, India |
|
Tel. No.: |
91-4142-270700 |
|
Fax No.: |
91-4142-270707 |
DIRECTORS
As on 28.09.2013
|
Name : |
Mr. Kanumuru Satyanarayana Raju |
|
Designation : |
Director |
|
Address : |
1 -60/1, Survey No. 197 and 207, IDA Boflaram Road, Mi
Yapur, Hyderabad-500049, Andhra Pradesh, India |
|
Date of Birth/Age : |
29.06.1950 |
|
Date of Appointment : |
02.08.1997 |
|
DIN No.: |
00008177 |
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|
|
|
Name : |
Mr. Kanumuru Rahul Raju |
|
Designation : |
Director |
|
Address : |
Digvijayam, Plot No.933A, Road No.47, Jubilee Hills, |
|
Date of Birth/Age : |
31.08.1976 |
|
Date of Appointment : |
30.09.2003 |
|
DIN No.: |
00015990 |
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|
|
|
Name : |
Mr. Vijayanand Yeluri |
|
Designation : |
Director |
|
Address : |
Sargam, 1-55/32, DCL Camelot Enclave, Majid Banda, Kondapur, |
|
Date of Birth/Age : |
17.08.1947 |
|
Date of Appointment : |
06.11.2008 |
|
DIN No.: |
00594503 |
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|
|
|
Name : |
Mr. Srirangam Rangaswamy Ramakrishnan |
|
Designation : |
Director |
|
Address : |
1005, Nanda Block, Kaushambi Apartments, Shahibabad – 201 010, |
|
Date of Birth/Age : |
04.02.1935 |
|
Date of Appointment : |
27.07.2009 |
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DIN No.: |
00015839 |
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|
|
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Name : |
Mr. S Ramasundaram |
|
Designation : |
Managing Director and CEO |
|
Address : |
Row House No. 22, Plaza Green Acres Lake View Road, Perungudi, Chennai
– 600096, Tamilnadu, India |
|
Date of Birth/Age : |
02.04.1954 |
|
Date of Appointment : |
22.12.2010 |
|
DIN No.: |
00147563 |
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PAN No.: |
AAAPR2337R |
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|
|
|
Name : |
Mr. Sudhakar Kudva |
|
Designation : |
Director |
|
Address : |
Flat No, 305, Lumbini Majestic Kapadia Lane, Somajiguda,
Hyderabad - 500 082 Andhra Pradesh. India |
|
Date of Birth/Age : |
06.12.1950 |
|
Date of Appointment : |
21.07.2012 |
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DIN No.: |
02410695 |
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|
|
|
Name : |
Mr. Anand Balasundaram |
|
Designation : |
Director |
|
Address : |
D-8 14 Paradise, Raheja Vihar, Powai Mumbai - 400 072,
Maharashtra, India |
|
Date of Appointment : |
27.08.2012 |
|
DIN No.: |
02792009 |
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|
|
|
Name : |
Mr. Hansraj Varma |
|
Designation : |
Nominee Director |
|
Address : |
No.29, NAS Garden Koratur Agraharam Chennai - 600 076,
Tamilnadu, India |
|
Date of Birth/Age : |
30.05.1964 |
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Date of Appointment : |
31.10.2012 |
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DIN No.: |
00130877 |
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|
|
|
Name : |
Mr. Mythili Balasubramanian |
|
Designation : |
Nominee Director |
|
Address : |
202, Sheriff Apartments, No. 19, Serpentine Street,
Richmond Town, Bangalore - 560 025, Karnataka, India |
|
Date of Birth/Age : |
26.11.1958 |
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Date of Appointment : |
29.06.2013 |
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DIN No.: |
00038005 |
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|
Name : |
Mr. Harsh Jasani |
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Designation : |
Director |
|
Address : |
602 , Citadel 18B, L. D Ruparel Marg, Malabar Hill, Mumbai
- 400 006, Maharashtra, India |
|
Date of Birth/Age : |
11.02.1979 |
|
Date of Appointment : |
28.08.20123 |
|
DIN No.: |
06652281 |
KEY EXECUTIVES
|
Name : |
Mr. P.D. Krishna Prasad |
|
Designation : |
Company Secretary |
|
Address : |
L-38-K, Bharathidasan Colony, K.K. Nagar, Chennai – 600 028, |
|
Date of Birth/Age : |
05.03.1969 |
|
Date of Appointment : |
05.04.2008 |
|
PAN No.: |
AGLPD1141Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Nagarjuna Fertilizers and Chemicals Limited ( |
|
776219900 |
|
K. Lakshmi Raju |
|
10 |
|
K.S. Raju |
|
10 |
|
K. Rahul Raju |
|
10 |
|
Yasmin Mehta |
|
10 |
|
M. Srinivas |
|
10 |
|
T.V. Dwarakanath |
|
10 |
|
M. Ramakanth |
|
10 |
|
A.N. Chidamber |
|
10 |
|
A. Vyasa Maheshwara Rao |
|
10 |
|
K. Soma Raju |
|
10 |
|
Tamilnadu Industrial Development Corporation Limited, India |
|
27440000 |
|
Cuddalore Port Company Private Limited, India |
|
60700000 |
|
Tata Petrodyne Limited, India |
|
200880000 |
|
Tata Song Limited, India |
|
210720000 |
|
Uhde GmbH, Germany |
|
54880000 |
|
Trsfigurs Pte. Limited, Singapore |
|
328451563 |
|
Total |
|
1659291563 |
As on 28.09.2013
Equity Share Break up (Percentage of Total Equity)
|
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 |
23.10 |
|
Bodies corporate |
75.25 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject offers Liquefied Petroleum Gas, Aviation Turbine Fuel, Motor
Spirit, Coke, Sulphur and Fuel Oil. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
|
|
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Banking
Relations : |
--- |
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|
|
|
Auditors : |
|
|
Name : |
M. Bhaskara Rao and Company Chartered Accountants |
|
Address : |
5- D, Fifth Floor, “Kautilya”, 6-3-652, Somajiguda, Hyderabad – 500082,
Andhra Pradesh, India |
|
PAN No.: |
AADFM4831E |
|
|
|
|
Others : |
Sri Venkateswara Power and Utilities Private Limited |
CAPITAL STRUCTURE
As on 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000000 |
Equity Shares |
Rs.10/- each |
Rs.5000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1659291563 |
Equity Shares |
Rs.10/- each |
Rs.16592.916
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 |
16592.916 |
16592.916 |
10652.400 |
|
(b) Reserves & Surplus |
1380.864 |
1432.960 |
0.107 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
548.800 |
|
Total Shareholders’
Funds (1) + (2) |
17973.780 |
18025.876 |
11201.307 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
39866.602 |
30489.730 |
20796.330 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
216.171 |
217.460 |
51.009 |
|
(d) long-term
provisions |
8.967 |
6.942 |
7.859 |
|
Total Non-current
Liabilities (3) |
40091.740 |
30714.132 |
20855.198 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
0.000 |
10347.408 |
10444.960 |
|
(b) Trade
payables |
0.000 |
0.000 |
0.000 |
|
(c) Other
current liabilities |
8912.759 |
4823.473 |
2718.336 |
|
(d) Short-term
provisions |
1.404 |
2.031 |
2.885 |
|
Total Current
Liabilities (4) |
8914.163 |
15172.912 |
13166.181 |
|
|
|
|
|
|
TOTAL |
66979.683 |
63912.920 |
45222.686 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
987.233 |
1001.745 |
580.082 |
|
(ii) Intangible
Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
60571.703 |
48208.837 |
34515.348 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.780 |
0.780 |
0.026 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5230.000 |
7597.152 |
6698.868 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
66789.716 |
56808.514 |
41794.324 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
138.676 |
7013.237 |
3063.955 |
|
(e) Short-term
loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
51.291 |
91.169 |
364.407 |
|
Total
Current Assets |
189.967 |
7104.406 |
3428.362 |
|
|
|
|
|
|
TOTAL |
66979.683 |
63912.920 |
45222.686 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.002 |
0.002 |
0.000 |
|
|
|
Other Income |
0.810 |
0.418 |
0.000 |
|
|
|
TOTAL (A) |
0.812 |
0.420 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
21.988 |
53.665 |
0.000 |
|
|
|
Other expenses |
30.920 |
320.385 |
0.000 |
|
|
|
TOTAL (B) |
52.908 |
374.050 |
0.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(52.096) |
(373.630) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(52.096) |
(373.630) |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(52.096) |
(373.630) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(52.096) |
(373.630) |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.03) |
(0.23) |
0.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(6415.76) |
(88959.52) |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2604800.00) |
(18681500.00) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.81) |
(2.38) |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
(0.02) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.22 |
2.27 |
2.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.02 |
0.47 |
0.26 |
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 |
10652.400 |
16592.916 |
16592.916 |
|
Reserves & Surplus |
0.107 |
1432.960 |
1380.864 |
|
Net
worth |
10652.507 |
18025.876 |
17973.780 |
|
|
|
|
|
|
long-term borrowings |
20796.330 |
30489.730 |
39866.602 |
|
Short term borrowings |
10444.960 |
10347.408 |
0.000 |
|
Total
borrowings |
31241.290 |
40837.138 |
39866.602 |
|
Debt/Equity
ratio |
2.933 |
2.265 |
2.218 |
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 |
0.000 |
0.002 |
0.002 |
|
|
|
0.000 |
0.000 |
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 |
0.000 |
0.002 |
0.002 |
|
Profit |
0.000 |
(373.630) |
(52.096) |
|
|
0.00% |
(18681500.00%) |
(2604800.00%) |
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 |
Yes |
|
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 |
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 |
No |
LITIGATIONS DETAILS
CHENNAI COURT
CASE STATUS INFORMATION SYSTEM
|
Case Status: |
Pending |
|
Status Of: |
COMPANY PETITION |
|
Case No.: |
255 |
|
Year : |
2013 |
|
Petitioner : |
KEC INTERNATIONAL LIMITED |
|
Respondent : |
NAGARJUNA OIL CORPORATION LIMITED |
|
Pet's Advocate : |
M/S. SANKARANARAYANAN |
|
Res's Advocate : |
|
|
Category : |
NO CATEGORY MENTIONED |
|
|
Last Listed on: No Date Mentioned |
|
Case Updated on : |
Dec 12 2013 |
INDUSTRY OVERVIEW
PROJECT REVIEW
The Refinery Project
of the Company is nearly 60% complete.
i. Due to delays in tying up equity and impact of Thane Cyclone, the Company demobilized all workers at the site leading to a slowdown in the execution of the project.
ii. The Company has retained basic Construction Management Team with 374 employees contributing to technical and administrative support to ensure completion of project.
iii. The Company is pursuing approvals / renewals, where required, for the implementation of the project and commissioning of the plant.
iv. The management has ensured adequate storage and maintenance of all assets and equipments (including outsourced facilities) lying at its premises and vendors location.
v. The Central and the Government of Tamilnadu have declared the Company as anchor unit for Petroleum, Chemicals and Petrochemical Investment Region (PCPIR) comprising of Cuddalore and Nagapattinam districts of Tamilnadu.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Short-term
borrowings |
|
|
|
Foreign currency term loans from banks |
0.000 |
1373.308 |
|
Rupee term loans from banks |
0.000 |
8974.100 |
|
Total |
0.000 |
10347.408 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10449269 |
27/02/2014 * |
46,150,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B97296339 |
|
2 |
10125013 |
27/02/2014 * |
46,150,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B97295943 |
|
3 |
90281711 |
15/05/1992 |
400,000.00 |
THE SOUTH INDIAN BANK LTD. |
289; DR. NATESAN ROAD, TRIPLICANE, MADRAS, TAMILNADU - 600005, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Building
- Furniture,
Fixtures and Office Equipment
- Vehicles
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.61.20 |
|
|
1 |
Rs.102.35 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
-- |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
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 |
|
26 |
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.