MIRA INFORM REPORT
|
Report Date : |
05.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
WELSPUN STEEL LIMITED (w.e.f. 26.05.2010) |
|
|
|
|
Formerly Known
As : |
WELSPUN POWER AND STEEL LIMITED |
|
|
|
|
Registered
Office : |
S N 650, Village Varsamedi, Taluka Anjar, District Kutch - 370110,
Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.06.2004 |
|
|
|
|
Com. Reg. No.: |
04-044249 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.1100.900 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109GJ2004PLC044249 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTW00058C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACW5308G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of iron and steel products. |
|
|
|
|
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 27299000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is an established company having satisfactory track. There appears continuous dip in the profit of the company. However, the company received good support from its group company. Trade relation are reported as fair. Business is active. Payments are
reported to be usually correct. The company can be considered good for business dealings 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
April 16, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit.
|
|
Date |
April 16, 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. Manoj Chaturvedi |
|
Designation : |
Manager |
|
Contact No.: |
91-9879202769 |
|
Date : |
03.11.2014 |
LOCATIONS
|
Registered Office/ Factory : |
S N 650, Village Varsamedi, Taluka Anjar, District Kutch - 370110,
Gujarat |
|
Tel. No.: |
91-2836-279051 / 53 / 54 / 55 / 56 |
|
Fax No.: |
91-2836-279050 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Corporate Office : |
Welspun House, 7th Floor, Kamala Mills Compound, Senapati
Bapat Marg, Lower Parel, Mumbai - 400013, Maharashtra, India. |
|
Tel. No.: |
91-22-66136000 |
|
Fax No.: |
91-22-24908020 |
|
|
|
|
Branch Office 1 : |
23 HIG, BDA Housing Complex, Gangadhar Meher Nagar, Jayadev Vihar,
Bhubaneshwar - 751013, Orissa, India |
|
Tel. No.: |
91-674-2300223 |
|
Fax No.: |
91-674-2300224 |
|
|
|
|
Branch Office 2: |
GIDC Industrial Estate, |
|
Tel. No.: |
91-2645-226305/6/7 |
|
Fax No.: |
91-2645-220403 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Sitaram Damodardas Somani |
|
Designation : |
Director |
|
Address : |
N-8/18 Ganpati Niwas, Bangur Niwas Building, Goregaon (West), Mumbai - 400090, Maharashtra, India. |
|
Date of Birth/Age : |
23.01.1948 |
|
Qualification : |
C.A |
|
Date of Appointment : |
22.03.2006 |
|
DIN No.: |
00005017 |
|
|
|
|
Name : |
Mr. Rajesh Rameshkumar Mandawewala |
|
Designation : |
Director |
|
Address : |
161/171-B, Opposite Sidhivinayak Temple, Tanna Residency, Prabhadevi, Mumbai - 400025, Maharashtra, India |
|
Date of Birth/Age : |
05.05.1962 |
|
Qualification : |
F.C.A |
|
Date of Appointment : |
01.09.2006 |
|
DIN No.: |
00007179 |
|
|
|
|
Name : |
Mr. Atul Manubhai Desai |
|
Designation : |
Director |
|
Address : |
C/62, Vellard View, 14, Tardeo Road, Haji Ali, Mumbai – 400034, Maharashtra, India |
|
Date of Birth/Age : |
21.01.1950 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
00019443 |
|
|
|
|
Name : |
Mr. Ram Gopal Sharma |
|
Designation : |
Director |
|
Address : |
E-707, Military Road, Off Marol Maroshi Road, Lok Sarita Building, Andheri (East), Mumbai - 400059, Maharashtra, India |
|
Date of Birth/Age : |
11.09.1940 |
|
Qualification : |
B.com, M.A (Economics) |
|
Date of Appointment : |
10.05.2006 |
|
DIN No.: |
00026514 |
|
|
|
|
Name : |
Mr. Balkrishan Gopiram Goenka |
|
Designation : |
Director |
|
Address : |
Rocky Isle 46/C, Bhulabhai Desai Road, Breach Candy, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
15.08.1965 |
|
Qualification : |
B. Com |
|
PAN No. : |
AEOPG4891D |
|
Date of Appointment : |
03.06.2004 |
|
DIN No.: |
00270175 |
|
|
|
|
Name : |
Mr. Anuj Burakia |
|
Designation : |
Director |
|
Address : |
B-108, NU-10B, Shakti Nagar, Gandhidham – 370201, Gujarat, India |
|
Date of Birth/Age : |
27.06.1979 |
|
Qualification : |
C.A |
|
PAN No. : |
AGCPB8871E |
|
Date of Appointment : |
28.12.2011 |
|
DIN No.: |
02840211 |
KEY EXECUTIVES
|
Name : |
Ms. Rashmi Donesh Mamatura |
|
Designation : |
Secretary |
|
Address : |
B-2, Ekvira Niwas, Bhnadar Wada, Pannalal Ghosh Marg, Mumbai – 400064,
Maharashtra, India |
|
Date of Birth/Age : |
23.01.1987 |
|
Date of Appointment : |
31.10.2011 |
|
PAN No.: |
BAHPM5142B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
%age |
|
Krishiraj Trading Limited, India |
54350100 |
49.37 |
|
Welspun Finance Limited, India |
10000 |
0.01 |
|
Welspun Mercantile Limited, India |
6659600 |
6.05 |
|
Welspun Fintrade Limited, India |
40950000 |
37.20 |
|
Welspun Wintex Limited, India |
2120000 |
1.93 |
|
Goldenarch Estates Private Limited, India |
1000000 |
0.91 |
|
Welspun Investments and Commercials, India |
5000000 |
4.54 |
|
Welspun Zucchi Textiles Limited, India |
100 |
0.00 |
|
Welspun Syntex Limited, India |
100 |
0.00 |
|
Welspun India Limited, India |
100 |
0.00 |
|
|
|
|
|
Total |
110090000 |
100.00 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of iron and steel products. |
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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 : |
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|
Banking
Relations : |
-- |
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|
|
|
Financial Institutions : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Suresh Surana and Associates Chartered Accountants |
|
Address : |
B-301 Mehvish
Tower Patel Complex Mira Village Mira Road (East), District Thane Mira Road,
Thane– 401104, Maharashtra, India |
|
PAN No.: |
ABAPV2006L |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are
partners with Key management
personnel and their relatives |
CIN No.: L17110GJ1985PLC033271
CIN No.: L99999DN1983PLC000045
CIN No.: L27100GJ1995PLC025609
CIN No.: U27100GJ2008PLC064145
CIN No.: L45201GJ1994PLC023920
CIN No.: L27100GJ1993PLC020358
CIN No.: U65910GJ1982PTC055383
CIN No.: U63012MH2006PLC165280
CIN No.: U45400OR2007PTC015831
CIN No.: U65990GJ1992PLC050965
CIN No.: U51909GJ2002PLC041136
|
|
|
|
|
Subsidiary Company
: |
CIN No.: U27109GJ2009PTC055893
CIN No.: U14298MH2010PTC209181 |
|
|
|
|
Associates : |
CIN No.: U40100GJ2010PLC060502
CIN No. :L27100GJ1993PLC020358 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
Rs.10/- each |
Rs.1500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
110090000 |
Equity Shares |
Rs.10/- each |
Rs.1100.900 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 |
1100.900 |
590.960 |
590.960 |
|
(b) Reserves & Surplus |
8454.042 |
6789.225 |
6693.669 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
450.000 |
|
Total Shareholders’
Funds (1) + (2) |
9554.942 |
7380.185 |
7734.629 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2996.425 |
2631.562 |
2678.531 |
|
(b) Deferred tax liabilities (Net) |
229.073 |
60.693 |
0.000 |
|
(c) Other long term
liabilities |
63.625 |
0.000 |
0.000 |
|
(d) long-term
provisions |
4.452 |
4.658 |
3.772 |
|
Total Non-current
Liabilities (3) |
3293.575 |
2696.913 |
2682.303 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
291.513 |
349.049 |
95.654 |
|
(b) Trade payables |
1772.445 |
1493.829 |
526.400 |
|
(c) Other current
liabilities |
1808.527 |
783.238 |
334.582 |
|
(d) Short-term
provisions |
0.638 |
15.051 |
666.376 |
|
Total Current
Liabilities (4) |
3873.123 |
2641.167 |
1623.012 |
|
|
|
|
|
|
TOTAL |
16721.640 |
12718.265 |
12039.944 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3896.314 |
2072.200 |
1262.280 |
|
(ii) Intangible Assets |
0.338 |
0.309 |
0.386 |
|
(iii) Capital
work-in-progress |
380.422 |
227.861 |
1050.006 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
7998.739 |
6830.339 |
280.824 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
21.982 |
|
(d) Long-term Loan and Advances |
509.327 |
425.768 |
6781.030 |
|
(e) Other
Non-current assets |
66.651 |
57.139 |
37.959 |
|
Total Non-Current
Assets |
12851.791 |
9613.616 |
9434.467 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
53.151 |
20.486 |
50.129 |
|
(b) Inventories |
1260.295 |
1164.881 |
841.624 |
|
(c) Trade receivables |
425.891 |
279.175 |
251.027 |
|
(d) Cash and cash
equivalents |
577.718 |
428.759 |
82.768 |
|
(e) Short-term loans
and advances |
1262.404 |
1122.933 |
1359.130 |
|
(f) Other current
assets |
290.390 |
88.415 |
20.799 |
|
Total Current Assets |
3869.849 |
3104.649 |
2605.477 |
|
|
|
|
|
|
TOTAL |
16721.640 |
12718.265 |
12039.944 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4688.778 |
3034.169 |
5631.548 |
|
|
|
Other Income |
498.520 |
100.615 |
6853.642 |
|
|
|
TOTAL |
5187.298 |
3134.784 |
12485.190 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3314.271 |
2257.477 |
4525.084 |
|
|
|
Purchase of stock-in-trade |
260.653 |
0.000 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(139.673) |
127.786 |
(98.528) |
|
|
|
Employee related expenses |
128.489 |
63.150 |
129.816 |
|
|
|
Other Expenses |
822.737 |
282.430 |
1129.131 |
|
|
|
TOTAL |
4386.477 |
2730.843 |
5685.503 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
800.821 |
403.941 |
6799.687 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
628.760 |
216.272 |
405.475 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
172.061 |
187.669 |
6394.212 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
122.333 |
53.937 |
117.627 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
49.728 |
133.732 |
6276.585 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
39.055 |
38.175 |
132.707 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
10.673 |
95.557 |
5143.878 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.17 |
1.62 |
88.50 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.20
|
3.05 |
41.20 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
17.08
|
13.31 |
120.74 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
0.60
|
2.36 |
58.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.02 |
0.81 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.34
|
0.40 |
0.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99
|
1.17 |
1.60 |
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 |
590.960 |
590.960 |
1100.900 |
|
Reserves & Surplus |
6693.669 |
6789.225 |
8454.042 |
|
Net
worth |
7284.629 |
7380.185 |
9554.942 |
|
|
|
|
|
|
long-term borrowings |
2678.531 |
2631.562 |
2996.425 |
|
Short term borrowings |
95.654 |
349.049 |
291.513 |
|
Total
borrowings |
2774.185 |
2980.611 |
3287.938 |
|
Debt/Equity
ratio |
0.381 |
0.404 |
0.344 |
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 |
5631.548 |
3034.169 |
4688.778 |
|
|
|
(46.122) |
54.533 |
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 |
5631.548 |
3034.169 |
4688.778 |
|
Profit |
5143.878 |
95.557 |
10.673 |
|
|
91.34% |
3.15% |
0.23% |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
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 |
No |
LISTING DETAILS:
HIGH COURT OF GUJARAT
STAMP NUMBER No. 251 of 2013
|
Status : PENDING
CCIN No : 001087201300251 Last Listing
Date :- Coram : |
||
|
S.NO. |
Name of the
Petitioner |
Advocate On
Record |
|
|
|
|
|
1 |
STATE OF GUJARAT THROUGH COMMISSIONER OF |
GOVERNMENT PLEADER for: null |
|
S.NO. |
Name of the
Respondant |
Advocate On
Record |
|
1 |
WELSPUN STEEL LIMITED |
|
|
|||
|
Presented On |
: 28/01/2013 |
Registered On |
: 28/01/2013 |
|
Bench Category |
: DIVISION BENCH |
District |
: SURAT |
|
Case Originated
From |
: THROUGH ADVOCATE |
Listed |
: 0 times |
|
Stage Name Classification Act |
: ADMISSION (FRESH MATTERS)
|
||
|
OTHER FORUMS |
|
S.No. |
CASEDETAILS |
TRIBUNAL
REFERRENCE |
ORDER PASSED BY |
JUDGEMENT DATE |
PLACE |
|
1 |
FA 27/2010 |
GUJARAT VALUE ADDED TAX TRIBUNAL, AHMEDABAD |
PRESIDENT & MEMBER |
27/12/2011 |
SURAT |
|
OFFICE DETAILS |
|||||
|
S. No. |
Filing Date |
Document Name |
Advocate Name |
Court Fee on Document |
Document Details |
|
1 |
28/01/2013 |
VAKALATNAMA |
GOVERNMENT PLEADER |
5 |
GOVERNMENT PLEADER:1 |
|
2 |
28/01/2013 |
MEMO OF APPEAL/PETITION/SUIT |
GOVERNMENT PLEADER |
50 |
GOVERNMENT PLEADER:1 |
|
LINKED MATTERS |
|||||
|
S. No. |
CaseDetail |
Status Name |
Disposal Date |
Action/Coram |
|
1 |
CIVIL APPLICATION/94/2013 |
DISPOSED |
08/03/2013 |
ANY OTHER MODE @ ADM.STAGE
|
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Debenture |
700.000 |
0.000 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand from other |
20.000 |
0.000 |
|
|
|
|
|
Total |
720.000 |
0.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10412421 |
11/02/2013
|
550,000,000.00
|
Standard
Chartered Bank |
Abhijeet
II, Ground Floor, Near Mithakali Six Roads, Ahmedabad, Gujarat - 380006,
INDIA |
B70993001 |
|
2 |
10397245 |
15/12/2012
|
1,050,000,000.00
|
ANDHRA
BANK |
16B, 16TH
FLOOR, EARNEST HOUSE, 194, NCPA MARG, NARIMAN POINT, MUMBAI, Maharashtra -
400021, INDIA |
B65979957 |
|
3 |
10391122 |
26/11/2012
* |
2,250,000,000.00
|
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B65694978 |
|
4 |
10395487 |
12/11/2012
|
300,000,000.00
|
Punjab
National Bank |
Ilaco
House, Sir P M Road, Fort, Mumbai, Maharashtra - 400005, INDIA |
B65317042 |
|
5 |
10355314 |
20/04/2012
|
200,000,000.00
|
PUNJAB
NATIONAL BANK |
ILACO
HOUSE, SIR P M ROAD, MUMBAI, Maharashtra - 400001, INDIA |
B39507462 |
|
6 |
10297842 |
25/08/2012
* |
2,250,000,000.00
|
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B60210085 |
|
7 |
10269499 |
01/02/2011
|
900,000,000.00
|
STANDARD
CHARTERED BANK |
Abhijeet
II, Ground Floor, Near Mithakali Six Roads, Ahmedabad, Gujarat - 380006,
INDIA |
B06622468 |
|
8 |
80011715 |
25/06/2013
* |
2,670,120,000.00
|
SBICAP
TRUSTEE COMPANY LIMITED |
202, MAKER
TOWER, 'E', CUFFE PARADE,, COLABA, MUMBAI, Maharashtra - 400005, INDIA |
B80248529 |
|
9 |
80011728 |
25/06/2013
* |
2,670,120,000.00
|
SBICAP TRUSTEE
COMPANY LIMITED |
202, MAKER
TOWER, 'E', CUFFE PARADE,, COLABA, MUMBAI, Maharashtra - 400005, INDIA |
B80078538 |
|
10 |
80011722 |
28/06/2005
* |
266,000,000.00
|
PUNJAB
NATIONAL BANK |
ILLACO
HOUSE, FORT, MUMBAI, Maharashtra - 400001, INDIA |
- |
|
11 |
80011726 |
24/01/2006
* |
266,000,000.00
|
PUNJAB
NATIONAL BANK |
ILLACO
HOUSE, FORT, MUMBAI, Maharashtra - 400001, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Lease Hold Improvement
- Building
- Plant and Machinery
- Officer Equipments
- Furniture and Fixtures
- Vehicle
- Power Plant
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 records 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.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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.