MIRA
INFORM REPORT
|
Report Date : |
17.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAF YEAST COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
419-420-422 Swastik Chambers, 4th Floor, Junction of CST
Road and Sion Trombay Road, Mumbai-400071, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2008 |
|
|
|
|
Date of
Incorporation : |
12.08.1981 |
|
|
|
|
Com. Reg. No.: |
11-024975 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.15.838
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15410MH1981PTC024975 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
KLPS04331F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Yeast |
|
|
|
|
No. of Employees
: |
350 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (14) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The management has failed to file its financial with government department
since 2009. Mr. Krishnan, Admin Manger has provided general information to us and
claimed that company has achieved sales turnover of Rs.2300.000 Millions for
the year 2012-13, which is not verified. Business is active. Payment terms are unknown. The company can be considered for business dealings on safe and
secured 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.
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. Bal Krishnan |
|
Designation : |
Admin Manager |
|
Contact No.: |
91-22-25223364 |
|
Date : |
15.05.2014 |
LOCATIONS
|
Registered Office : |
419-420-422 Swastik Chambers, 4th Floor, Junction of CST
Road and Sion Trombay Road, Mumbai-400071, Maharashtra, India |
|
Tel. No.: |
91-22-25223364 |
|
Fax No.: |
91-22-25223370 / 25221435 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
C-3, Khadpoli Industrial Area, Taluka Chiplun, Ratnagiri, Maharashtra,
India |
|
|
|
|
Branch Office : |
3-4-835/1, Barkatpura, Hyderabad-500027, Andhra Pradesh, India |
DIRECTORS
As on 21.10.2008
|
Name : |
Arunachalam Muthu Arunachalam |
|
Designation : |
Director |
|
Address : |
1, Hermes, 7/7 B Worli Sea Face, Worli, Mumbai-400025, Maharashtra,
India |
|
Date of Birth/Age : |
28.05.1976 |
|
Date of Appointment : |
24.10.1998 |
|
DIN No.: |
01687714 |
|
|
|
|
Name : |
Arunachalam Muthu Muthiah |
|
Designation : |
Director |
|
Address : |
1, Hermes, 7/7 B Worli Sea Face, Worli, Mumbai-400025, Maharashtra,
India |
|
Date of Birth/Age : |
23.08.1980 |
|
Date of Appointment : |
23.11.2002 |
|
DIN No.: |
01866014 |
|
|
|
|
Name : |
Mr. Pramod Balchandra Thatte |
|
Designation : |
Director |
|
Address : |
3, Sawan Mansion, Radha Swami Co-Operative Housing Society, Plot No.
27, Sector 18, Koparkhairne, Navi Mumbai-400709, Maharashtra, India |
|
Date of Birth/Age : |
04.11.1953 |
|
Date of Appointment : |
30.06.1997 |
|
DIN No.: |
01687763 |
|
|
|
|
Name : |
Arunachalam Muthu |
|
Designation : |
Director |
|
Address : |
1, Hermes, 7/7 B Worli Sea Face, Worli, Mumbai – 400025, Maharashtra,
India |
|
Date of Birth/Age : |
12.06.1943 |
|
Date of Appointment : |
12.08.1981 |
|
DIN No.: |
01687673 |
|
|
|
|
Name : |
Alain Laloum |
|
Designation : |
Director |
|
Address : |
137, Rue Gabriel Peri, Marcq-En-Baroeul-059703, France |
|
Date of Birth/Age : |
10.06.1948 |
|
Date of Appointment : |
12.08.1981 |
|
|
|
|
Name : |
Lucien Lesaffre |
|
Designation : |
Director |
|
Address : |
137, Rue Gabriel Peri, Marcq-En-Baroeul-059703, France |
|
Date of Birth/Age : |
25.10.1946 |
|
Date of Appointment : |
12.08.1981 |
|
|
|
|
Name : |
Alain De Gouy |
|
Designation : |
Director |
|
Address : |
137, Rue Gabriel Peri, Marcq-En-Baroeul-059703, France |
|
Date of Appointment : |
30.06.1997 |
|
|
|
|
Name : |
M.E. Lesaffre |
|
Designation : |
Director |
|
Address : |
137, Rue Gabriel Peri, Marcq-En-Baroeul-059703, France |
|
Date of Birth/Age : |
12.10.1948 |
|
Date of Appointment : |
12.08.1981 |
KEY EXECUTIVES
|
Name : |
Mr. Bal Krishnan |
|
Designation : |
Admin Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 21.10.2008
|
Names of Shareholders |
|
No. of Shares |
|
Arunachalam Muthu Arunachalam |
|
10396 |
|
Arunachalam Muthu Muthiah |
|
10397 |
|
A. Muthu |
|
16800 |
|
T.N.M. Arunachalam |
|
1800 |
|
Helios Food Additives Private
Limited, India |
|
38010 |
|
Nafan B.V. Netherlands, France |
|
80772 |
|
B.B. Paymaster |
|
200 |
|
Total |
|
158375 |
As on 21.10.2008
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
51.00 |
|
Bodies
corporate |
|
24.00 |
|
Directors
or relatives of directors |
|
24.87 |
|
Other
|
|
0.13 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Yeast |
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Products : |
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Imports : |
|
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Products : |
Machinery |
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Countries : |
China |
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|
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Terms : |
|
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Selling : |
Cash / Credit |
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|
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Purchasing : |
Cash / Credit |
PRODUCTION STATUS (AS ON 31.03.2008)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity* |
Actual
Production [Kilograms] |
|
Yeast |
Metric Toones |
20500 |
20500 |
29924485 |
Note:* As Certified by the management.
GENERAL INFORMATION
|
Customers : |
Britannia Industries Limited |
||||||||||||
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|
||||||||||||
|
No. of Employees : |
350 [Approximately] |
||||||||||||
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|
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Bankers : |
Axis Bank, Mumbai, Maharashtra, India |
||||||||||||
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|
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Facilities : |
NOTE: OUT OF THE LOANS
FROM SHAREHOLDERS 1.
Upto 40% of the loan from the foreign shareholder
amounting to Rs. Nil (Rs.1.144 Millions) is convertible at the option of the
lending company, into equity shares. The loan amount together with interest
accrued and due Rs. nil (Rs.0.684 Million) was repaid in Indian rupees
equivalent during the year. 2.
Rs. 39.076 Millions is interest free loan of (1)
US $ 58986 repayable in three equal installments commencing from September,
1993, and (2) US $ 850000 repayable in five equal installments commencing
from January, 1998. The loan was repaid in full during the year. 3.
Rs. 0.165 Million (Rs.0.165 Million) represents
unpaid dividend for the year 1989-90 converted into loan on the basis of the
letter which has also waived interest on loan and dividend. The loan was
repaid in full during the year. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Chartered Accountants |
|
Address : |
Ravindra Annexe, 194, Churchgate Reclamation, Mumbai-400020,
Maharashtra, India |
|
Tel. No.: |
91-22-22047722/66338343-47 |
|
Fax No.: |
91-22-66338352 |
|
E-Mail : |
|
|
Pan No.: |
AAAFS2967E |
|
|
|
|
Sister Concern : |
·
Helices Food Additive Private Limited ·
Shree Maruti Fine Food Private Limited |
CAPITAL STRUCTURE
As on 31.03.2008
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.100/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
158375 |
Equity Shares |
Rs.100/- each |
Rs.15.838
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
15.838 |
15.838 |
15.838 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
787.769 |
468.831 |
232.762 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
803.607 |
484.669 |
248.600 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.287 |
1.649 |
5.304 |
|
|
2] Unsecured Loans |
21.720 |
65.951 |
66.676 |
|
|
TOTAL BORROWING |
22.007 |
67.600 |
71.980 |
|
|
DEFERRED TAX LIABILITIES |
78.939 |
39.941 |
32.016 |
|
|
DEFERRED INCOME |
11.752 |
7.806 |
2.747 |
|
|
|
|
|
|
|
|
TOTAL |
916.305 |
600.016 |
355.343 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
496.556 |
325.657 |
274.394 |
|
|
Capital work-in-progress |
28.461 |
24.990 |
24.634 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.738 |
0.738 |
0.724 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
177.746
|
163.246 |
114.168 |
|
|
Sundry Debtors |
20.341
|
29.169 |
31.778 |
|
|
Cash & Bank Balances |
452.340
|
276.838 |
161.777 |
|
|
Other Current Assets |
0.744
|
0.345 |
0.204 |
|
|
Loans & Advances |
249.707
|
177.528 |
145.195 |
|
Total
Current Assets |
900.878
|
647.126 |
453.122 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
259.097
|
210.026 |
235.785 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
251.231
|
188.469 |
161.746 |
|
Total
Current Liabilities |
510.328
|
398.495 |
397.531 |
|
|
Net Current Assets |
390.550
|
248.631 |
55.591 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
916.305 |
600.016 |
355.343 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1431.040 |
1227.989 |
1038.040 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
972.539 |
882.476 |
874.119 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
972.539 |
882.476 |
874.119 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
458.401 |
345.513 |
163.921 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
92.839 |
67.306 |
10.533 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
365.562 |
278.207 |
153.388 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.057 |
NA |
NA |
|
|
TOTAL EARNINGS |
0.057 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2308.20 |
1756.63 |
968.51 |
|
|
Particulars |
|
31.03.2014 |
31.03.2013 |
|
Sales Turnover [Approximately] |
|
276.000 |
230.000 |
The above information has been declined by Mr. Bal Krishnan
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
25.55
|
22.66 |
14.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
32.80
|
35.52 |
22.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.71 |
0.66 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.03
|
.14 |
0.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.77
|
1.62 |
1.14 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2006 |
31.03.2007 |
31.03.2008 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
15.838 |
15.838 |
15.838 |
|
Reserves & Surplus |
232.762 |
468.831 |
787.769 |
|
Net
worth |
248.600 |
484.669 |
803.607 |
|
|
|
|
|
|
Secured Loans |
5.304 |
1.649 |
0.287 |
|
Unsecured Loans |
66.676 |
65.951 |
21.720 |
|
Total
borrowings |
71.980 |
67.600 |
22.007 |
|
Debt/Equity
ratio |
0.290 |
0.139 |
0.027 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2006 |
31.03.2007 |
31.03.2008 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
1038.040 |
1227.989 |
1431.040 |
|
|
|
18.299 |
16.535 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2006 |
31.03.2007 |
31.03.2008 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
1038.040 |
1227.989 |
1431.040 |
|
Profit |
153.388 |
278.207 |
365.562 |
|
|
14.78% |
22.66% |
25.55% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT: NOT AVAILABLE
|
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 |
Yes |
|
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay |
|||||||
|
Lodging No. : |
NMAL/96/2011 |
Failing Date:- |
13/01/2011 |
Reg. No.:- |
NMA/96/2011 |
Reg. Date:- |
13/01/2011 |
|
|
|||||||
|
Lodging No. : CEXAL/135/2008 |
|||||||
|
Petitioner:- |
THE COMMISSIONER OF CENTRAL EXCISE |
Respondent:- |
SAF YEAST COMPANY PRIVATE LIMITED |
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Petn.Adv:- |
R.B. PARDESH (0) |
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District:- |
MUMBAI |
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Bench:- |
DIVISION |
Category:- |
NOTICE OF MOTION (TAX) |
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|
Status:- |
Pre- Admission |
Stage:- |
NOTICE OF MOTION FROM HEARING |
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Last Date:- |
21/04/2011 |
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Last Coram:- |
HON’BLE SHRI JUSTICE J.P. DEVADHAR HON’BLE SHRI JUSTICE A.R. SAYED |
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UNSECURED LOAN
|
Particular |
As
on 31.03.2008 [Rs.
in Millions] |
As
on 31.03.2007 [Rs.
in Millions] |
|
Loans From Shareholders |
0.000 |
42.854 |
|
Interest accrued and due on above loans |
0.000 |
1.377 |
|
Deferred sales tax loan |
21.720 |
21.720 |
|
Total |
21.720 |
65.951 |
PERFORMANCES:
During the year,
the Company’s production registered a growth rate of 18.24% terms of volume
over the previous year. For the year, the total sale of yeast was 29,924 metric
tonnes as compared to 25,308 metric tonnes for the financial year 2006-2007 and
the realization was Rs.1370.158 Millions against Rs.1188.586 Millions for the
previous year.
The audited
accounts for the year shows a profit of Rs.458.402 Millions as compared to
Rs.345.513 Millions for the previous year, before providing for taxation. After
providing for income tax Rs.52.500 Millions, Fringe benefit tax Rs.0.880
Million, wealth tax Rs.0.462 Million and deferred tax Rs.38.998 Millions and
after making adjustments for incomes and expenditures and income tax for
earlier years, the balance net profit amounting to Rs.365.251 Millions is
available for appropriation. The increase in production volume and internal
economies achieved by the company by better utilization of available resources
have helped the company in improving its earnings significantly during the year
under report. In keeping with the provisions of Accounting Standard 22, a
provision for deferred tax has been made.
CONTINGENT
LIABILITIES IN RESPECT OF (AS ON 31.03.2008)
1.
Excise demand in appeal Rs.44.565 Millions
2.
Sales tax demand in appeal Rs.13.665 Millions
3.
The demand of Rs.3.151 Millions made by SICOM
Limited (agents for Government of Maharashtra) towards the alleged- excess
availment of a sales tax incentive till the date of repayment is not
quantifiable. The company has filed a writ petition before the High Court of
Judicature at Bombay against the said demand. By an interim order, the High
Court has restrained SICOM from recovering the said amount until the matter is
finally disposed of by the High Court.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90242765 |
31/08/2005 |
452,000.00 |
M/S SUNDARAM FINANCE LIMITED |
PATTULAOS ROAD, CHENNEI, TAMIL NADU - 600002, INDIA |
- |
|
2 |
90186164 |
01/02/1995 |
3,000,000.00 |
STATE BANK OF INDIA |
NEPEAN SEA ROAD BRANCH; LAXMI VILAS; 87, LAXIMIBHAI JAGMOHANDAS MARG, BOMBAY, MAHARASHTRA - 400006, INDIA |
- |
|
3 |
90186063 |
04/09/1995 * |
14,000,000.00 |
STATE BANK OF INDIA |
NEPEAN SEA ROAD BRANCH; LAXMI VILAS; 87, LAXIMIBHAI JAGMOHANDAS MARG, BOMBAY, MAHARASHTRA - 400006, INDIA |
- |
|
4 |
90188533 |
26/12/1996 * |
14,000,000.00 |
STATE BANK OF INDIA |
NEPEAN SEA ROAD BRANCH; LAXMI VILAS; 87, LAXIMIBHAI JAGMOHANDAS MARG, BOMBAY, MAHARASHTRA - 400006, INDIA |
- |
|
5 |
90188413 |
04/02/1991 |
6,552,000.00 |
THE INDUSTRIAL CREDIT & INVESTMENT CORPORATION
OF |
163; BACKBAY RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
6 |
90187511 |
06/06/1990 |
8,500,000.00 |
STATE BANK OF INDIA |
NEPEAN SEA ROAD BRANCH; LAXMI VILAS; 87, LAXIMIBHAI JAGMOHANDAS MARG, BOMBAY, MAHARASHTRA - 400006, INDIA |
- |
|
7 |
90187506 |
19/03/1990 |
1,000,000.00 |
STATE BANK OF INDIA |
NEPEAN SEA ROAD BRANCH; LAXMI VILAS; 87, LAXIMIBHAI JAGMOHANDAS MARG, BOMBAY, MAHARASHTRA - 400006, INDIA |
- |
|
8 |
90185557 |
06/02/1990 |
1,600,000.00 |
STATE BANK OF INDIA |
NEPEAN SEA ROAD BRANCH; LAXMI VILAS; 87, LAXIMIBHAI JAGMOHANDAS MARG, BOMBAY, MAHARASHTRA - 400006, INDIA |
- |
|
9 |
90187494 |
23/11/1989 |
9,700,000.00 |
STATE BANK OF INDIA |
CHAR BAGH, LUCKNOW, UTTAR PRADESH, INDIA |
- |
|
10 |
90187487 |
18/07/1989 |
6,000,000.00 |
STATE BANK OF INDIA |
CHAR BAGH, LUCKNOW, UTTAR PRADESH, INDIA |
- |
|
11 |
90189077 |
07/01/1989 |
4,200,000.00 |
THE BANQUE INDOSUEZ |
RAMON HOUSEM 1ST FLOOR, BACKBAY RECLAMATION, BOMB |
- |
|
12 |
90188309 |
15/07/1988 |
5,000,000.00 |
STATE BANK OF INDIA |
NEPEAN SEA ROAD BRANCH; LAXMI VILAS; 87, LAXIMIBHAI JAGMOHANDAS MARG, BOMBAY, MAHARASHTRA - 400006, INDIA |
- |
|
13 |
90189068 |
29/08/1986 * |
5,500,000.00 |
THE STATE INDUSTRIAL & INVESTMENT CORPORATION OF
M |
NIRMAL; 1ST FLOOR, NARIMAN POINT, BOMBAY, MAHARASHTRA - 400001, INDIA |
- |
|
14 |
90185235 |
31/07/1987 |
1,550,000.00 |
STATE BANK OF INDIA |
NEPEAN SEA ROAD BRANCH; LAXMI VILAS; 87, LAXIMIBHAI JAGMOHANDAS MARG, BOMBAY, MAHARASHTRA - 400006, INDIA |
- |
|
15 |
90188278 |
31/07/1987 |
1,550,000.00 |
STATE BANK OF INDIA |
NEPEAN SEA ROAD BRANCH; LAXMI VILAS; 87, LAXIMIBHAI JAGMOHANDAS MARG, BOMBAY, MAHARASHTRA - 400006, INDIA |
- |
|
16 |
90187399 |
24/04/1987 * |
1,750,000.00 |
STATE BANK OF INDIA |
NEPEAN SEA ROAD BRANCH; LAXMI VILAS; 87, LAXIMIBHAI JAGMOHANDAS MARG, BOMBAY, MAHARASHTRA - 400006, INDIA |
- |
|
17 |
90188272 |
24/04/1987 |
1,750,000.00 |
STATE BANK OF INDIA |
NEPEAN SEA ROAD BRANCH; LAXMI VILAS; 87, LAXIMIBHAI JAGMOHANDAS MARG, BOMBAY, MAHARASHTRA - 400006, INDIA |
- |
|
18 |
90188232 |
11/08/1986 |
1,900,000.00 |
STATE BANK OF INDIA |
NEPEAN SEA ROAD BRANCH; LAXMI VILAS; 87, LAXIMIBHAI JAGMOHANDAS MARG, BOMBAY, MAHARASHTRA - 400006, INDIA |
- |
|
19 |
90188223 |
24/06/1986 |
500,000.00 |
STATE BANK OF INDIA |
NEPEAN SEA ROAD BRANCH; LAXMI VILAS; 87, LAXIMIBHAI JAGMOHANDAS MARG, BOMBAY, MAHARASHTRA - 400006, INDIA |
- |
|
20 |
90188210 |
13/03/1986 |
825,000.00 |
STATE BANK OF INDIA |
NEPEAN SEA ROAD BRANCH; LAXMI VILAS; 87, LAXIMIBHAI JAGMOHANDAS MARG, BOMBAY, MAHARASHTRA - 400006, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
·
Leasehold Land
·
Building
·
Plant and Machinery
·
Electrical Installation
·
Furniture and Fixtures
·
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.58.86 |
|
|
1 |
Rs.98.82 |
|
Euro |
1 |
Rs.80.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
14 |
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.