MIRA INFORM REPORT
|
Report Date : |
08.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SUPERTECH LIMITED (w.e.f 22.12.2006) |
|
|
|
|
Formerly Known
As : |
SUPERTECH CONSTRUCTIONS LIMITED |
|
|
|
|
Registered Office
: |
1114, Hemkunt Chambers, 89, Nehru Place, New Delhi - 110019 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.12.1995 |
|
|
|
|
Com. Reg. No.: |
55-074422 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.124.850 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995PLC074422 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MRTS02640B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS0646N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in developing and constructing residential and commercial properties. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 22000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Overall financial position of the company is decent. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealing at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
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.
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 CO-OPERATIVE (91-120-4669900)
LOCATIONS
|
Registered Office : |
1114, Hemkunt Chambers, 89, Nehru Place, New Delhi - 110019 |
|
Tel. No.: |
91-11-41619836 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
B-28-29, Sector 58, Gautam Budh Nagar, Noida – 201301, Uttar Pradesh,
India |
|
Tel. No.: |
91-120-4669991 |
DIRECTORS
As on 27.09.2013
|
Name : |
Mr. Ram Kishor Arora |
|
Designation : |
Chair and Managing Director |
|
Address : |
C/1/10, Sector – 36, Noida – 201303, Uttar Pradesh, India |
|
Date of Birth/Age : |
03.01.1964 |
|
Date of Appointment : |
07.12.1995 |
|
DIN No.: |
00021491 |
|
|
|
|
Name : |
Mrs. Sangita Arora |
|
Designation : |
Whole time director |
|
Address : |
C/1/10, Sector – 36, Noida – 201303, Uttar Pradesh, India |
|
Date of Birth/Age : |
06.08.1966 |
|
Date of Appointment : |
07.12.1995 |
|
DIN No.: |
00021602 |
|
PAN No.: |
AAEPA1216E |
|
|
|
|
Name : |
Mr. Anil Kumar Sharma |
|
Designation : |
Whole time director |
|
Address : |
446, Galo No. 7, Rajeev Gandhi Marg, East Babarpur, Shahdara, Delhi – 110032, India |
|
Date of Birth/Age : |
05.01.1960 |
|
Date of Appointment : |
01.10.2003 |
|
DIN No.: |
00408572 |
|
|
|
|
Name : |
Mr. Laxman Singh Arora |
|
Designation : |
Director |
|
Address : |
153A, II – RM, Secotr – II, Sahibabad, Ghaziabad – 201005, Uttar Pradesh, India |
|
Date of Birth/Age : |
18.04.1927 |
|
Date of Appointment : |
01.07.2007 |
|
DIN No.: |
02041307 |
|
|
|
|
Name : |
Mr. Gulshan Lal Khera |
|
Designation : |
Director |
|
Address : |
B-I/597 B, Janakpuri, New Delhi – 110058, India |
|
Date of Birth/Age : |
31.12.1950 |
|
Date of Appointment : |
01.07.2008 |
|
DIN No.: |
02193734 |
|
|
|
|
Name : |
Mr. Mohit Arora |
|
Designation : |
Whole time director |
|
Address : |
C/1/10, Sector – 36, Noida – 201303, Uttar Pradesh, India |
|
Date of Birth/Age : |
06.01.1988 |
|
Date of Appointment : |
29.09.2009 |
|
DIN No.: |
02285023 |
|
PAN No.: |
AJAPA7450M |
|
|
|
|
Name : |
Mr. Vikas Kansal |
|
Designation : |
Whole time director |
|
Address : |
8/74, Sector – 3, Rajender Nagar, Sahibabad, Ghaziabad – 201005, Uttar Pradesh, India |
|
Date of Birth/Age : |
25.01.1963 |
|
Date of Appointment : |
01.02.2010 |
|
DIN No.: |
00175462 |
|
PAN No.: |
AHPPK8646N |
|
|
|
|
Name : |
Mr. Pradeep Kumar Goel |
|
Designation : |
Whole time director |
|
Address : |
E-804, Palm Green Supertech, Delhi Road, Meerut – 250002, Maharashtra, India |
|
Date of Birth/Age : |
24.05.1964 |
|
Date of Appointment : |
09.08.2012 |
|
DIN No.: |
05359277 |
|
|
|
|
Name : |
Mr. Anil Kumar Jain |
|
Designation : |
Whole time director |
|
Address : |
C-106, Rail Vihar, Sector – 3, Vasundhara, Indirapuram, Ghaziabad – 201010, Uttar Pradesh, India |
|
Date of Birth/Age : |
10.10.1963 |
|
Date of Appointment : |
09.08.2012 |
|
DIN No.: |
05359280 |
|
|
|
|
Name : |
Mr. Sadanand Girimallappa Byakod |
|
Designation : |
Whole time director |
|
Address : |
6504 Givenchy, Prestige Montecarlo, Puttenahalli, Yelahanka, Bangalore – 560064, Karnataka, India |
|
Date of Birth/Age : |
11.05.1961 |
|
Date of Appointment : |
26.02.2013 |
|
DIN No.: |
00574512 |
KEY EXECUTIVES
|
Name : |
Mr. Anurag Srivastava |
|
Designation : |
Company Secretary |
|
Address : |
F-137, Sector – 56, Noida – 201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
01.02.1979 |
|
Date of Appointment : |
17.01.2008 |
|
PAN No.: |
BMUPS2359M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ram Kishor Arora |
|
3127028 |
|
Sangita Arora |
|
2899270 |
|
K G Arora |
|
12200 |
|
L S Arora |
|
38950 |
|
R K Arora |
|
799747 |
|
Anil Arora |
|
9000 |
|
K G Arora and Sons (HUF) |
|
369953 |
|
L S Arora and Sons (HUF) |
|
437771 |
|
Rajeev Arora and Sons (HUF) |
|
92600 |
|
Sanjay Arora and Sons (HUF) |
|
36106 |
|
Supertech Estate Private Limited, India |
|
1600000 |
|
Mohit Arora |
|
410285 |
|
Supertech Realtech Private Limited, India |
|
2652090 |
|
|
|
|
|
Total |
|
12485000 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2013
|
Category |
Percentage |
|
Bodies corporate |
34.06 |
|
Directors or relatives of Directors |
65.87 |
|
Other top fifty shareholders |
0.07 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in developing and constructing
residential and commercial properties. |
||||
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||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ashu Gupta and Associates Chartered Accountants |
|
Address : |
07, Local Shopping Centre, Dayanand Vihar, New Delhi, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFA4337J |
|
|
|
|
Subsidiary
Companies: |
[U70109DL2012PTC242405]
[U70102DL2007PTC163662]
[U70100DL2010PTC210785]
|
|
|
|
|
Associates/Group
Companies: |
[U70101DL2011PTC218570]
[U45200AP2008PTC059512]
|
|
|
|
|
Entities over which
Company or key management personnel or their relatives, exercise significant
influence |
[U45201DL1999PTC098485]
[U40106DL2011PTC216038]
|
|
|
|
|
Joint Venture: |
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15020000 |
Equity Shares |
Rs.10/- each |
Rs. 150.200 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12485000 |
Equity Shares |
Rs.10/- each |
Rs. 124.850
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 |
124.850 |
77.700 |
77.700 |
|
(b) Reserves & Surplus |
5421.076 |
4227.278 |
3118.960 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
5.667 |
|
Total
Shareholders’ Funds (1) + (2) |
5545.926 |
4304.978 |
3202.327 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5393.836 |
4277.215 |
1638.811 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.964 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
7.776 |
5.273 |
2.295 |
|
Total
Non-current Liabilities (3) |
5401.612 |
4282.488 |
1642.070 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
13393.119 |
12020.316 |
13933.802 |
|
(c) Other current liabilities |
7645.389 |
6993.283 |
4235.191 |
|
(d) Short-term provisions |
302.721 |
292.853 |
283.892 |
|
Total
Current Liabilities (4) |
21341.229 |
19306.452 |
18452.885 |
|
|
|
|
|
|
TOTAL |
32288.767 |
27893.918 |
23297.282 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
454.159 |
360.755 |
291.747 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
6275.290 |
1207.683 |
1251.818 |
|
(c) Deferred tax assets (net) |
6.993 |
5.505 |
0.000 |
|
(d) Long-term Loan and Advances |
106.836 |
3471.085 |
1811.238 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
6843.278 |
5045.028 |
3354.803 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
9939.269 |
6080.931 |
13300.209 |
|
(c) Trade receivables |
3817.383 |
6407.232 |
2164.114 |
|
(d) Cash and cash equivalents |
1304.726 |
1146.587 |
2481.093 |
|
(e) Short-term loans and
advances |
1046.772 |
7586.085 |
611.934 |
|
(f) Other current assets |
9337.339 |
1628.055 |
1385.129 |
|
Total
Current Assets |
25445.489 |
22848.890 |
19942.479 |
|
|
|
|
|
|
TOTAL |
32288.767 |
27893.918 |
23297.282 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
18742.230 |
18697.734 |
13336.665 |
|
|
|
Other Income |
335.192 |
140.424 |
0.000 |
|
|
|
TOTAL (A) |
19077.422 |
18838.158 |
13336.665 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4511.991 |
2715.040 |
2735.701 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(3802.106) |
7240.276 |
(7808.111) |
|
|
|
Employee benefit expense |
461.909 |
343.225 |
381.820 |
|
|
|
Other expenses |
15321.318 |
6432.583 |
16254.494 |
|
|
|
Prior period items |
(37.391) |
0.609 |
105.349 |
|
|
|
Extraordinary items |
(0.008) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
16455.713 |
16731.733 |
11669.253 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2621.709 |
2106.425 |
1667.412 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1072.008 |
646.453 |
376.657 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1549.701 |
1459.972 |
1290.755 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
72.095 |
66.052 |
23.326 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1477.606 |
1393.920 |
1267.429 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
337.023 |
277.346 |
275.246 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1140.583 |
1116.574 |
992.183 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4227.300 |
3118.900 |
2135.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT TRANSFERRED
FROM MERGER OF GROUP COMPANIES |
2.300 |
0.800 |
0.000 |
|
|
|
|
|
|
|
|
|
|
MAT CREDIT
ENTITLEMENT |
65.500 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend on Equity Shares |
12.500 |
7.800 |
7.800 |
|
|
|
Tax on Proposed Dividend |
2.100 |
1.300 |
1.300 |
|
|
BALANCE CARRIED
TO THE B/S |
5421.100 |
4227.300 |
3118.900 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sale of Flats |
3.785 |
1.524 |
1.809 |
|
|
TOTAL EARNINGS |
3.785 |
1.524 |
1.809 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
16.565 |
0.000 |
NA |
|
|
|
Traveling |
1.724 |
0.692 |
NA |
|
|
TOTAL IMPORTS |
18.289 |
0.692 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
123.58 |
143.70 |
127.69 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.98
|
5.93 |
7.44 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.88
|
7.46 |
9.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.68
|
5.22 |
5.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.32 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.97
|
0.99 |
0.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19
|
1.18 |
1.08 |
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 |
77.700 |
77.700 |
124.850 |
|
Reserves & Surplus |
3,118.960 |
4,227.278 |
5,421.076 |
|
Net
worth |
3,196.660 |
4,304.978 |
5,545.926 |
|
|
|
|
|
|
long-term borrowings |
1,638.811 |
4,277.215 |
5,393.836 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
1,638.811 |
4,277.215 |
5,393.836 |
|
Debt/Equity
ratio |
0.513 |
0.994 |
0.973 |
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 |
13336.665 |
18697.734 |
18742.230 |
|
|
|
40.198 |
0.238 |
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 |
13336.665 |
18697.734 |
18742.230 |
|
Profit |
992.183 |
1116.574 |
1140.583 |
|
|
7.44% |
5.97% |
6.09% |
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 |
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 |
Yes |
LITIGATION DETAILS
IN THE HIGH COURT OF DELHI AT NEW DELHI
CO.PET. 184/2014
TV 18 BROADCAST LIMITED.... Petitioner
Through: Mr Anil Kumar Mishra, Mr Mrinal Bharti and Mr Saurabh Mishra,
Advocates.
Versus
SUPERTECH LIMITED ... Respondent
Through
CORAM:
HON'BLE MR. JUSTICE VIBHU BAKHRU
O R D E R
19.03.2014
CA No.614/2014
This is an application seeking exemption from filing certified, original, dim,
left side margin and typed copies of annexures. It is seen from the record
that certain annexures are not legible.
The learned counsel for the petitioner shall replace the dim and illegible annexures with typed copies. The petitioner is granted exemption from filing certified copies.
The application stands disposed of.
CO.PET. 184/2014
This is a petition for winding up the respondent company on account of its alleged inability to pay debts. The learned counsel for the petitioner has drawn my attention to an email dated 10.10.2013 (page 65) which indicates that the respondent had proposed to pay a sum of `4,80,00,000/- in six instalments of Rs.80,00,000/- each. According to the learned counsel for the petitioner this prima facie evidences that the debt claimed is an admitted debt. Issue notice to the respondent by all modes, returnable on 15.05.2014. Dasti as well.
The respondent shall file its reply within four weeks of receipt of the notice
along with copies of the balance sheets for the previous two years as well
as a list of movable and immovable assets of the respondent
company.
The learned counsel for the petitioner shall file an affidavit of service
enclosing therewith the tracking report of the courier agency as well as the
postal authority within two weeks from today.
CA No.613/2014
This is an application for appointment of a Provisional Liquidator. The same is
not pressed at this stage.
Dismissed as not pressed.
VIBHU BAKHRU, J
MARCH 19, 2014
MK
$ 44
FINANCIAL HIGHLIGHTS
AND OPERATIONS
The year was a sluggish year in terms of economic growth, largely because of high interest rates, inflation and lower GDP growth. All these factors have largely impacted sentiments and investor interest across business. In spite of sluggish year, the Company, during Financial Year 2012-13, has registered total revenue of Rs. 19077.400 Millions as compared to Rs. 18838.200 Millions in the previous year, showing an increase amounting to Rs. 239.200 Millions. Profit before tax has also improved by Rs. 83.600 Millions to Rs. 1477.600 Millions for the current year from Rs. 1394.000 Millions in the previous year. Profit after tax has also increased by Rs. 23.900 Millions to Rs. 1140.600 Millions for the current year from Rs. 1116.700 Millions in the previous year. The company Balance Sheet as on 31st March, 2013 reflects a healthy position with a Net Worth of Rs. 5545.900 Millions as compared to previous year which was Rs. 4305.000 Millions in the previous year.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Intercorporate borrowings |
293.149 |
31.053 |
|
Loans and advances from directors |
10.350 |
11.000 |
|
Loans and advances from others |
33.510 |
0.000 |
|
|
|
|
|
Total |
337.009 |
42.053 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION
|
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10483045 |
25/01/2014 |
350,000,000.00 |
ORIENTAL BANK OF COMMERCE |
B-31 SECTOR-62, NOIDA, NOIDA, UTTAR PRADESH - 201301, INDIA |
B98666399 |
|
2 |
10478061 |
20/01/2014 |
1,000,000,000.00 |
PUNJAB AND SIND BANK |
LARGE CORPORATE BRANCH, P-18/90, CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, INDIA |
B96455571 |
|
3 |
10472424 |
14/03/2014 * |
3,500,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, M-11, 1ST FLOOR, MIDDLE CIRCLE, CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, INDIA |
C00991984 |
|
4 |
10471615 |
07/12/2013 |
9,889,152.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B94011319 |
|
5 |
10467192 |
25/01/2014 * |
1,000,000,000.00 |
ORIENTAL BANK OF COMMERCE |
B-31 SECTOR-62, NOIDA, NOIDA, UTTAR PRADESH - 201301, INDIA |
B98659162 |
|
6 |
10448389 |
05/09/2013 |
4,400,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B84703636 |
|
7 |
10459879 |
27/08/2013 |
900,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B84453018 |
|
8 |
10445887 |
18/07/2013 |
4,150,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B83487660 |
|
9 |
10431493 |
30/05/2013 |
17,600,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B76948785 |
|
10 |
10425192 |
15/04/2013 |
4,150,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B74881764 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2013 |
|
Claim against the Company not acknowledged as debt: |
|
|
Demand for payment of stamp duty |
0.531 |
|
Corporate Guarantees provided on behalf of Group Companies or Associates Companies to the Bankers |
664.300 |
|
Corporate Guarantees provided on behalf of Subsidiaries Companies to the Bankers |
1252.800 |
|
Additional demands raised by the Sales department which are under appeal with Tribunal for the year 2009-10 |
20.700 |
|
Claims against the Company (Including unasserted claims) not acknowledge as debts |
55.000 |
|
Labour Cess |
9.300 |
FIXED ASSETS
Tangible assets
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
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.60.04 |
|
|
1 |
Rs.101.97 |
|
Euro |
1 |
Rs.83.58 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
42 |
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.