MIRA INFORM REPORT

 

 

Report Date :

10.11.2014

 

IDENTIFICATION DETAILS

 

Name :

NOVATEUR ELECTRICAL AND DIGITAL SYSTEMS PRIVATE LIMITED (w.e.f. 21.03.2012)

 

 

Formerly Known As :

INDO ASIAN ELECTRIC PRIVATE LIMITED (w.e.f. 14.04.2011)

 

ERA ELECTRICALS PRIVATE LIMITED

 

 

Registered Office :

61/62, 6th Floor, Kalpataru Square, Kondivita Road, Off Andheri-Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

11.08.2010

 

 

Com. Reg. No.:

11-206487

 

 

Capital Investment / Paid-up Capital :

Rs.6398.600 Millions

 

 

CIN No.:

[Company Identification No.]

U31909MH2010PTC206487

 

 

TIN No.:

Not Available

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCE4671N

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

The company is engaged in trading and manufacturing of Electrical Products.

 

 

No. of Employees :

1000 (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

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

The rating is constrained om account of company’s moderate financial risk profile and huge accumulated losses incurred by the company.

 

However, trade relations are fair. Business is active. Payments are reported to be slow but correct.

 

The company can be considered for business dealings with some caution.

 

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

 

N E W S

 

Verdict Implications: Apex court order may alter coal import dynamics. Traders go slowly 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

 

NOT AVAILABLE

 

 

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 31-03-2014.

 

INFORMATION PARTED BY (PARTIAL DETAILS)

 

Name :

Mr. Rajesh Khanna

Designation :

Finance Officer

Contact No.:

91-120-3853000

Date :

07.11.2014

 

 

LOCATIONS

 

Registered Office :

61/62, 6th Floor, Kalpataru Square, Kondivita Road, Off Andheri-Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra, India

Tel. No.:

91-22-30416200

Fax No.:

91-22-30416201

E-Mail :

ranjeet.kaur@indoasian.com

mukesh.chawla@legrand.co.in

jean-charles.thuard@iegrand.co.in

dimple.gupta@indoasian.com

Website :

http://www.Indoovan.com

 

 

Corporate Office :

B-24, Phase – II, Noida – 201305, Uttar Pradesh, India

Tel No.:

91-120-3853000/ 3042222

Fax No.:

91-120-3853002

 

 

Mumbai Branch Office :

G-6, Nahar and Seth Industrial Estate, Chakala, Andheri (East), Mumbai – 400099, Maharashtra, India

Tel No.:

91-22-28390072/ 28301987

Fax No.:

91-22-66922831

E-Mail :

mumbai@indoasian.com

Website :

http://www.indoasian.com

 

 

Branch Offices :

Located at:

 

North

 

·         Chandigarh

·         Delhi

·         Jaipur

·         Lucknow

 

South

 

·         Bengaluru

·         Cochin

·         Coimbatore

·         Chennai

·         Secunderabad

 

West

 

·         Ahmedabad

·         Indore

·         Mumbai

·         Pune

·         Surat

·         Goa

 

East

 

·         Kolkata

·         Jamshedpur

 

 

DIRECTORS

 

As on 30.09.2013

 

Name :

Mr. Ved Prakash Mahendru

Designation :

Additional Director

Address :

BB – 38, Nehru Enclave, Kalkaji, New Delhi – 110019, India

Date of Birth/Age :

18.02.1933

Date of Appointment :

21.10.2010

DIN No.:

00005338

 

 

Name :

Mr. Pranav Kumar Ranade

Designation :

Additional Director

Address :

11 Ishwar Nagar, Mathura Road, New Delhi – 110055, India

Date of Birth/Age :

10.11.1947

Date of Appointment :

21.10.2010

DIN No.:

00005359

 

 

Name :

Chellappan Ramaswamy

Designation :

Director

Address :

New No.10, Old No. 8, Visweswarapuram, Mylapore, Chennai – 600004, Tamilnadu, India

Date of Birth/Age :

08.05.1953

Date of Appointment :

29.05.2012

DIN No.:

00016958

 

 

Name :

Mrs. Urvashi Dipaksinh Morarji

Designation :

Director

Address :

Vasant Vihar 8, Capmichael Road, Mumbai – 400026, Maharahstra, India

Date of Birth/Age :

08.10.1926

Date of Appointment :

01.08.2012

DIN No.:

00922217

 

 

Name :

Mr. Michael Paul Carter

Designation :

Director

Address :

19, Rue Jules Rathgeber, 67100, Strasbourg, France

Date of Birth/Age :

16.05.1958

Date of Appointment :

28.09.2012

DIN No.:

01807488

 

 

Name :

Mr. Mukesh Omprakash Chawla

Designation :

Director

Address :

A/3104, Oberoi Springs CHS. Limited, (Excel Indus) No.705 Etc Off. New Link Road, Near Monginis Cake Factory, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

13.03.1959

Date of Appointment :

28.09.2012

DIN No.:

02698963

 

 

Name :

Antoine Didier Marie Burel

Designation :

Director

Address :

12, Allee De La Grange, Pissy Poville, France 76360

Date of Birth/Age :

22.12.1962

Date of Appointment :

28.09.2012

DIN No.:

02935400

 

 

Name :

Nemmara Ganapathy Krishnan

Designation :

Additional director

Address :

Flat No. 2701, 27th Floor, C Wing, Oberoi Spring, Oshiwara, Andgheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

25.07.1966

Date of Appointment :

21.10.2010

DIN No.:

03184144

 

 

Name :

Olivier Rene Le Floch

Designation :

Additional director

Address :

N-105, Panchshilla Park, New Delhi -110017, India

Date of Birth/Age :

19.02.1971

Qualification :

Master in Management

Date of Appointment :

10.01.2011

DIN No.:

03391960

PAN No.:

AHBPL4735D

 

 

Name :

Mr. David Beugin

Designation :

Director

Address :

5, Lotissement, LA Mauriniere, Montmeyran France 26120

Date of Birth/Age :

16.09.1974

Date of Appointment :

28.09.2012

DIN No.:

05287508

 

 

Name :

Benoit Nicolas Coquart

Designation :

Director

Address :

30Rte D Aureil, Le Puy Parlier Saint Justle Martel France 87590

Date of Birth/Age :

30.11.1973

Date of Appointment :

11.06.2012

DIN No.:

05300917

 

 

Name :

Jean Charles Thuard

Designation :

Managing Director

Address :

Flat No.601, 6th Floor, Writer Residence St. Leo Road, CTS No.462, Bandra (West), Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

30.06.1956

Date of Appointment :

30.09.2013

DIN No.:

06458087

 

 

KEY EXECUTIVES

 

Name :

Mr. Ranjeet Kaur

Designation :

Secretary

Address :

B – 67/ 3, Second Floor, Fateh Nagar, New Delhi – 110018, India

Date of Birth/Age :

02.01.1979

Date of Appointment :

24.02.2011

PAN No.:

ARLPK1888L

 

 

Name :

Mr. Darminder Singh Tiwana

Designation :

Chief Financial Officer

Date of Birth/Age :

35 Years

Qualification :

ACMA

 

 

Name :

Mr. Rajesh Khanna

Designation :

Finance Officer

 

 

MAJOR SHAREHOLDERS

 

As on 30.09.2013

 

Names of Shareholders

 

No. of Shares

Legrand France S.A., France

 

9999

Legrand Nederland BV, Netherland

 

85446754

B. Ticino S.P.A., Italy

 

554399846

Total

 

639856599

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2013

 

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

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

The company is engaged in trading and manufacturing of Electrical Products.

 

 

Products :
  • Circuit Breakers
  • Wiring Accessories
  • Distribution Boards
  • Uninterrupted Power Supply Systems
  • Time Switches

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

 

Selling :

Not Divulged 

 

 

Purchasing :

Not Divulged 

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Not Divulged 

 

 

Customers :

Not Divulged 

 

 

No. of Employees :

1000 (Approximately)

 

 

Bankers :

Not Divulged 

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

LoveLock and Lewes

Chartered Accountants

Address :

252, Veer Savarkar Marg, Shivaji Park, Dadar (West),  Mumbai - 400028, Maharashtra, India

PAN No.:

AABFL5878L

 

 

Membership :

Not Divulged 

 

 

Holding Company :

  • B Ticino SpA

 

 

Ultimate Holding Company :
  • Legrand SA

 

 

Subsidiary :

  • Adlec Power Private Limited
  • U31900HR2013PTC049028
  • Numeric Lanka Technologies (Private) Limited

 

 

Fellow Subsidiary Company :

  • Legrand Stras bourg
  • Legrand Nederland B.V.
  • Anam Legrand Company Limited
  • Baco Constructions
  • Bticino Gmbh
  • Legrand Elektrik Bufer Sanayi A S
  • Legrand – South Africa
  • Legrand Snc. France
  • Legrand (Beijing) Electrical Company Limited
  • Legrand Beijing Electric Limited
  • Legrand (S) Pte Limited
  • Cablofil (I.C.M Group)
  • Legrand (Shanghai) Trading Company
  • Legrand Isere St Marcellin
  • Legrand ZRT
  • Legrand Polska Sp. Zo.o
  • Legrand Low Voltage Electrical (Wuxi) Company Limited
  • Legrand Antibes
  • Rocom Electric Company Limited
  • Legrand Australia PTY Limited
  • Legrand France Ets Sille
  • Legrand SNC FZE
  • Legrand Cable Management
  • Legrand France SA
  • Legrand Electric Limited
  • Shenzhen Shidean Legrand Electric Production Company Limited
  • B Ticino Chile Ltda
  • Rocom Electric Company Limited
  • HPM Legrand
  • Legrand Pyrenees
  • E.M.B. Electrical Industries SAE, Egypt
  • HPM Australia
  • Legrand B Ticino GMBH
  • Legrand Inovac S.A.S
  • G L Eletro-Eletronicos
  • JSC Kontaktor
  • Legrand France Ets Sille
  • TCL Huizhou
  • Inform Elektronik San.Tic. As
  • S2S Onduleurs
  • Legrand Elektrik Sanayi A.S
  • Jean-Charles Thuard
  • Olivier Rene Le Floc’h

 

 

CAPITAL STRUCTURE

 

As on 30.09.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2499960000

Equity Shares

Rs.10/- each

Rs.24999.600Millions

400000

Preference Shares

Rs.10/- each

Rs.0.400 Millions

 

Total

 

Rs.25000.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

639856599

Equity Shares

Rs.10/- each

Rs.6398.566 Millions

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

6,398.600

6,398.600

400.100

(b) Reserves & Surplus

(6,086.600)

(5,010.600)

(3,919.800)

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

6,221.200

Total Shareholders’ Funds (1) + (2)

312.000

1,388.000

2,701.500

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

13,409.500

13,409.500

13,415.300

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

43.100

31.600

25.800

(d) long-term provisions

311.000

237.000

97.400

Total Non-current Liabilities (3)

13,763.600

13,678.100

13,538.500

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

2,788.300

2,321.600

1,645.300

(c) Other current liabilities

1,344.700

1,230.800

859.700

(d) Short-term provisions

267.100

247.200

121.800

Total Current Liabilities (4)

4,400.100

3,799.600

2,626.800

 

 

 

 

TOTAL

18,475.700

18,865.700

18,866.800

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1,480.800

1,391.100

1,194.700

(ii) Intangible Assets

5,831.700

8,236.900

3,562.900

(iii) Capital work-in-progress

71.600

62.200

57.200

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

885.900

93.600

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

634.500

614.100

592.700

(e) Other Non-current assets

112.100

72.200

1.600

Total Non-Current Assets

9,016.600

10,470.100

5,409.100

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

3,222.300

2,578.000

1,680.900

(c) Trade receivables

3,826.700

3,601.800

2,186.100

(d) Cash and cash equivalents

1,833.800

1,871.100

9,275.100

(e) Short-term loans and advances

520.200

322.600

289.100

(f) Other current assets

56.100

22.100

26.500

Total Current Assets

9,459.100

8,395.600

13,457.700

 

 

 

 

TOTAL

18,475.700

18,865.700

18,866.800

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

 

TOTAL REVENUE (NET)

18644.000

15956.300

10497.200

 

 

 

 

 

Less

GROSS EXPENSES

19725.200

17231.700

10578.500

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX

(1081.200)

(1275.400)

(81.300)

 

 

 

 

 

Less

TAX                                                                 

(5.200)

38.100

29.000

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX

(1076.000)

(1313.500)

(110.300)

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(1.68)

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

(6.17)

(6.82)

(0.43)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(3.47)

(0.92)

(0.03)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

42.98

9.66

4.97

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.15

2.21

5.12

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Millions

Rs. In Millions

Rs. In Millions

Share Capital

400.100

6398.600

6398.600

Reserves & Surplus

(3919.800)

(5010.600)

(6086.600)

Share Application money pending allotment

0.000

0.000

0.000

 

6221.200

0.000

0.000

Net worth

2701.500

1388.000

312.000

 

 

 

 

Long Term borrowings

13415.300

13409.500

13409.500

Short Term borrowings

0.000

0.000

0.000

Total borrowings

13415.300

13409.500

13409.500

Debt/Equity ratio

4.966

9.661

42.979

 

 

`

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Millions

Rs. In Millions

Rs. In Millions

Total Revenue (Net)

10,497.200

15,956.300

18,644.000

 

 

52.005

16.844

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Millions

Rs. In Millions

Rs. In Millions

Total Revenue (Net)

10,497.200

15,956.300

18,644.000

Profit

(110.300)

(1,313.500)

(1,076.000)

 

(1.05%)

(8.23%)

(5.77%)

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS 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

No

19]

Payments terms

No

20]

Export / Import details (if applicable)

No

21]

Market information

----------

22]

Litigations that the firm / promoter involved in

----------

23]

Banking Details

No

24]

Banking facility details

No

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

 

 

UNSECURED LOANS:

 

Particulars

31.03.2014

Rs. In Millions

31.03.2013

Rs. In Millions

LONG TERM BORROWINGS

 

 

Fully convertible debentures

13287.300

13287.300

Deferred sales tax loan

122.200

122.200

Total

13409.500

13409.500

 

 

BUSINESS PROSPECTS

 

The turnover of the Company for the current financial year 2013-14 is Rs.18644.000 Millions as against turnover of Rs.15956.300 Millions in previous financial year 2012-13. The turnover of the Company has gone up as compared to previous year, however, due to increased financial cost of the Company, the Company has incurred a loss of Rs.1076.000 Millions in the FY 2013-14.

 

Financial year 2013-14 witnessed an aggressive product launches for all the three business units, reinforcing the Company’s commitment to innovation and to its Indian subsidiary. The Company launched Caretron and DX3 in CBs, Glint in wiring devices, Onfinity in 1-phase UPS, Archimod/Tromod in 3-phase modular UPS etc. Further, in 2014-15 the Company is planning to launch new products as per the market environment and shall concentrate on Geographical penetration in B and C class towns for retail business. The directors expect that the Company to do much better in years to come

 

BACKGROUND

 

The company was incorporated on 11th August, 2010 as Era Electricals Private Limited. Subsequently, the name of the company was changed from Era Electricals Private Limited to Indo Asian Electric Private Limited on 14th April, 2011 and from Indo Asian Electric Private Limited to Novateur Electrical & Digital Systems Private Limited on 21st March, 2012.

 

The company is engaged in trading and manufacturing of Electrical Products and has manufacturing plants in India and operates across the country through stockists and retail outlets. The company offers a wide range of products in the categories of Energy Distribution, Wiring Devices, Uninterrupted Power Supply Systems (UPS), Home Automation, Structured Cabling, 31/03/2014 Lighting Management Solutions, Cable

 

 

 

INDEX OF CHARGE:

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

90226103

07/11/1996

36,500,000.00

Canara Bank

Worli Branch, Mumbai, Maharashtra, India

-

2

90225950

22/07/1999 *

67,300,000.00

Canara Bank

Worli Branch, Mumbai, Maharashtra, India

-

3

90225936

13/02/1995 *

11,000,000.00

The State Industrial And Invest Corporation Of Mahrashtra Lt

Nirmal, 1 St Floor; Nariman Point, Mumbai, Maharashtra, India

-

4

90225923

29/07/1993 *

38,500,000.00

Canara Bank

Worli Branch, Mumbai, Maharashtra, India

-

5

90225914

29/07/1993

2,000,000.00

Canara Bank

Worli Branch, Mumbai, Maharashtra, India

-

6

90225910

18/06/1993

8,000,000.00

BANK OF INDIA

CUMBALLA HILL BRANCH, 9 - A; NS PATKAR MARG, MUMB
AI, Maharashtra - 400026, INDIA

-

7

90225900

12/09/1996 *

7,000,000.00

UNION BANK OF INDIA

INDUSTRIAL FINANCE BRANCH, 239; VIDHAN BHAWAN MA
RG; NARIMAN POINT, MUMBAI, Maharashtra - 400021, I
NDIA

-

8

90225827

29/07/1993 *

2,500,000.00

Canara Bank

Worli Branch, Mumbai, Maharashtra, India

-

9

90225799

28/02/1991

1,200,000.00

Canara Bank

Worli Branch, Mumbai, Maharashtra, India

-

10

90225721

05/08/1994 *

1,000,000.00

Canara Bank

Worli Branch, Mumbai, Maharashtra, India

-

11

90225688

17/11/1989 *

10,000,000.00

ICICI Bank Ltd

163; Backbay Reclamation, Mumbai, Maharashtra, India

-

12

90225673

20/04/1989

3,500,000.00

Algeemence Bank Nederlands Nv

14; veer nariman road, mumbai, maharashtra, india

-

13

90225653

05/08/1994 *

3,000,000.00

CANARA BANK

WORLI, MUMBAI, Maharashtra, INDIA

-

14

90225587

05/08/1994 *

3,250,000.00

CANARA BANK

WORLI, MUMBAI, Maharashtra, INDIA

-

15

90225586

25/11/1988 *

8,500,000.00

Ageemence Bank Nederlands Nv

14; Veer Nariman Point, Fort, Mumbai, Maharashtra - 400001, India

-

16

90225548

29/10/1985

4,000,000.00

The Bank Of Nova Scotia

Mittal Tower - B Wing, Nariman Point, Mumbai, Maharashtra - 400021, India

-

17

90225513

11/05/1984

3,350,000.00

The State Industrial And Invest Corporation Of Maharashtra Lt

Nirmal, 1 St Floor; Nariman Point, Mumbai, Maharashtra, India

-

18

90225508

15/02/1984

1,000,000.00

The Hong Kong And Shanghai Banking Corporation

52/60; Mg Road, Mumbai, Maharashtra, India

-

19

90220049

03/08/1983

150,000.00

The Hdfc Bak Ltd.

Ramon House; 4 - Floor, 169; Backbay Reclamtion, Mumbai, Maharashtra - 400020, India

-

20

90225494

17/05/1983

600,000.00

The Hong Kong And Shanghai Banking Corporation

52/60; Mg Road, Mumbai, Maharashtra, India

-

21

90225487

11/11/1982

1,600,000.00

The Sangli Bank Ltd.

Fort Branch, Mumbai, Maharashtra, India

-

22

90225436

19/12/1977

800,000.00

The Sangli Bank Ltd.

Fort Branch, P Nariman Road, Mumbai, Maharashtra,
India

-

23

90225434

02/11/1977

406,298.00

The State Industrial And Invest. Corporation Maharashtra Lt

Nirmal; 1 - St Floor, Nariman Point, Mumbai, Maharashtra - 400021, India

-

24

90225413

08/02/1972

500,000.00

The Sangli Bank Ltd.

Fort Branch, P. Nariman Road, Mumbai, Maharashtra, India

-

25

90225395

15/12/1966

150,000.00

Dena Bank

17; Horniman Circle, Mumbai, Maharashtra, India

-

26

90225390

24/09/1991 *

8,500,000.00

Algeemence Bank Nederland Nv

14; Veer Nariman, Mumbai, Maharashtra, India

-

*Date of modification Charges

 

 

FIXED ASSETS:

 

·         Land

·         Building

·         Plant and Machinery

·         Computer

·         Vehicles

·         Furniture and Fixture

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.61.52

UK Pound

1

Rs.97.39

Euro

1

Rs.76.16

 

 

INFORMATION DETAILS

 

Information Gathered by :

HNA

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

VNT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

1~10

--

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--LITIGATION

YES/NO

NO

--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

 

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.