MIRA INFORM REPORT
|
Report Date : |
19.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
ASSOCIATE DECOR LIMITED (w.e.f. 03.08.2011) |
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|
|
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Formerly Known
As : |
STAR PANEL BOARDS LIMITED |
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Registered
Office : |
Plot No. 1, Phase 4, Kiadb Industrial Area, Malur, Bangalore – 563160,
Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
17.01.2007 |
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Com. Reg. No.: |
08-041502 |
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Capital
Investment / Paid-up Capital : |
Rs. 515.100 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U20213KA2007PLC041502 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS29101C |
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PAN No.: [Permanent Account No.] |
AAKCS5136Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing of Particle Board both Plain and Laminated
Particle Boards and Laminates. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
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 |
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Payment Behaviour : |
Slow and Delayed |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having moderate track record. Profitability of the company is under pressure. There are accumulated losses
recorded by the company. Rating also reflects delay in debt servicing by the company due to
liquidity issues arising on account of inadequate working capital. Business is active. Payment terms are slow and delayed. The company can be considered for business dealing on a 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.
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 |
ICRA |
|
Rating |
Term Loan: “D” |
|
Rating Explanation |
Lowest credit quality and very low prospects
of recovery. |
|
Date |
September, 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
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Channaraju |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-8151-305037 |
|
Date : |
17.11.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. 1, Phase 4, Kiadb Industrial Area, Malur, Bangalore – 563160,
Karnataka, India |
|
Tel. No. : |
91-8151-305037 |
|
Fax No. : |
91-8151-305040 |
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E-Mail : |
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Website : |
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Corporate Office : |
Associate House 15, Hill Road, Bandra (West), Mumbai - 400050,
Maharashtra, India |
|
Tel. No.: |
91-22-26456661/ 66217777 |
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Fax No.: |
91-22-26456662/ 66217799 |
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E-Mail : |
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Branch Office : |
Located at · Bangalore · Chennai · Hyderabad · Cochin · New Delhi · Pune · Nagpur |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Farooq Ali Khan |
|
Designation : |
Managing director |
|
Address : |
No. 21, Benson A Cross Road, Benson Town Post, Bangalore - 560046,
Karnataka, India |
|
Date of Birth/ Age : |
10.05.1967 |
|
Qualification : |
B. E. in Mechanical Engineering |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
01087814 |
|
|
|
|
Name : |
Mr. Manoharlal Satramdas Agicha |
|
Designation : |
Director |
|
Address : |
The Agicha’s, 6 Master Vinayak Road, Bandra (West), Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/ Age : |
21.04.1945 |
|
Date of Appointment : |
19.02.2007 |
|
DIN No.: |
00364700 |
|
|
|
|
Name : |
Mr. Mohamad Farouk Suleman Darvesh |
|
Designation : |
Director |
|
Address : |
Hoor Manzil, 7, Perry Cross Road, Bandra (West), Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/ Age : |
20.11.1952 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
17.01.2007 |
|
PAN No.: |
ADTPD5969P |
|
DIN No.: |
00364297 |
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|
|
|
Name : |
Mr. Srichand Satramdas Agicha |
|
Designation : |
Director |
|
Address : |
The Agicha’s, 6 Master Vinayak Road, Bandra (West), Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/ Age : |
22.02.1951 |
|
Date of Appointment : |
19.02.2007 |
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PAN No.: |
ADHPA3448G |
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DIN No.: |
00364370 |
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|
|
|
Name : |
Mr. Ebrahim Suleman Darvesh |
|
Designation : |
Director |
|
Address : |
Hoor Manzil, 7, Perry Cross Road, Bandra (West), Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/ Age : |
31.03.1957 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
17.01.2007 |
|
DIN No.: |
00364630 |
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|
|
|
Name : |
Mr. Nooruddin Khan |
|
Designation : |
Director |
|
Address : |
No.
316, 5th Cross,
1st Block, R.T. Nagar, Bangalore - 560032 Karnataka, India |
|
Date of Birth/ Age : |
07.01.1963 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
17.01.2007 |
|
PAN No.: |
AHOPK0851C |
|
DIN No.: |
01087889 |
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|
|
|
Name : |
Mr. Ashok Sunderdas Agicha |
|
Designation : |
Director |
|
Address : |
The Agicha’s, 6 Master Vinayak Road, Bandra (West), Mumbai – 400050, Maharashtra,
India |
|
Date of Birth/ Age : |
11.15.1954 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
19.02.2007 |
|
DIN No.: |
01238363 |
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|
|
|
Name : |
Mr. Himayath Ali Khan |
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Designation : |
Director |
|
Address : |
No.
393, 2nd Main
Road, 1st Block,
R.T. Nagar, Bangalore - 560032 Karnataka, India |
|
Date of Birth/ Age : |
04.12.1965 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
17.01.2007 |
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DIN No.: |
01087959 |
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|
|
|
Name : |
Mr. Yahya Darvesh Mohamed Farouk |
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Designation : |
Director |
|
Address : |
Hoor Manzil, 7 Perry Cross Road, Bandra (West), Mumbai - 400050,
Maharashtra, India |
|
Date of Birth/Age : |
11.20.1981 |
|
Qualification : |
Bachelor of Science in Business and Administration |
|
Date of Appointment : |
25.09.2009 |
|
DIN No.: |
02053549 |
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|
|
|
Name : |
Mr. Siddharrth Srichand Agicha |
|
Designation : |
Director |
|
Address : |
The Agicha’s, 6 Master Vinayak Road, Bandra (West), Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
11.04.1982 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
25.09.2009 |
|
DIN No.: |
00481804 |
KEY EXECUTIVES
|
Name : |
Mr. Channaraju |
|
Designation : |
Accounts Manager |
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|
|
|
Name : |
Kavita Ramesh Rathi |
|
Designation : |
Secretary |
|
Address : |
A-202, Prajakta Apartment, TPS Road, Borivali (West), Mumbai – 400092,
Maharashtra, India |
|
Date of Birth/Age : |
12.09.1984 |
|
Date of Appointment : |
04.09.2013 |
|
PAN No. : |
AJQPR7863R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
51.47 |
|
Directors or relatives of Directors |
48.53 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Particle Board both Plain and Laminated
Particle Boards and Laminates. |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
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Selling : |
-- |
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Purchasing : |
-- |
PRODUCTION STATUS:
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
· Godrej Interio · Zuari Furniture · Kurl-on · Ergo · Featherlite |
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No. of Employees : |
Not Divulged |
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Bankers : |
·
Corporation Bank, Industrial Finance Branch, Bharat
House No. 104, Ground Floor, Mumbai Samachar Marg, Fort, Mumbai - 400023,
Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
B. K. Ramadhyani and Company Chartered Accountants |
|
Address : |
4-B, Chirtapur Bhavan No 68,8Th Main, 15Th Cross Malleswaram, Bangalore, Karnataka, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFB1153G |
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|
|
|
Holding Company: |
Associate Holdings Private Limited, India CIN No.: U65990MH1994PTC079715 |
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|
|
|
Associate in which key
management personnel are interested : |
· Kings Wood Suppliers · Kings Transport · Associate Lumbers Private Limited CIN No.: U20101MH1986PTC039719 · Tamilnadu wood suppliers · Mohd. FSD and Others (Trust) |
CAPITAL STRUCTURE
As on30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
52000000 |
Equity Shares |
Rs.10/- each |
Rs.520.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51510000 |
Equity Shares |
Rs.10/- each
|
Rs.515.100
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 |
515.100 |
515.100 |
515.100 |
|
(b) Reserves & Surplus |
(99.729) |
(20.495) |
(0.587) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
415.371 |
494.605 |
514.513 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
2243.491 |
2227.657 |
1259.527 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
1399.537 |
1317.481 |
1102.550 |
|
(d) long-term
provisions |
2.629 |
0.697 |
0.402 |
|
Total Non-current
Liabilities (3) |
3645.657 |
3545.835 |
2362.479 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
621.373 |
92.941 |
0.000 |
|
(b) Trade
payables |
345.494 |
63.538 |
1.438 |
|
(c) Other
current liabilities |
528.743 |
284.497 |
102.857 |
|
(d) Short-term
provisions |
0.410 |
0.073 |
0.052 |
|
Total Current
Liabilities (4) |
1496.020 |
441.049 |
104.347 |
|
|
|
|
|
|
TOTAL |
5557.048 |
4481.489 |
2981.339 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4515.439 |
313.645 |
280.061 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
13.443 |
3800.196 |
2476.232 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
57.675 |
61.020 |
80.868 |
|
(e) Other
Non-current assets |
9.994 |
2.118 |
2.514 |
|
Total Non-Current
Assets |
4596.551 |
4176.979 |
2839.675 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
438.914 |
72.133 |
0.000 |
|
(c) Trade
receivables |
269.240 |
0.000 |
0.026 |
|
(d) Cash
and cash equivalents |
107.246 |
97.917 |
80.784 |
|
(e)
Short-term loans and advances |
142.816 |
126.768 |
60.162 |
|
(f) Other
current assets |
2.281 |
7.692 |
0.692 |
|
Total
Current Assets |
960.497 |
304.510 |
141.664 |
|
|
|
|
|
|
TOTAL |
5557.048 |
4481.489 |
2981.339 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1415.690 |
0.000 |
0.960 |
|
|
|
Other Income |
8.622 |
6.777 |
3.420 |
|
|
|
TOTAL (A) |
1424.312 |
6.777 |
4.380 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
841.581 |
0.000 |
0.000 |
|
|
|
Purchases of Stock-in-Trade |
6.218 |
0.000 |
0.877 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(188.134) |
0.000 |
0.010 |
|
|
|
Employees benefits expense |
115.756 |
8.016 |
1.973 |
|
|
|
Other expenses |
295.107 |
14.532 |
0.855 |
|
|
|
TOTAL (B) |
1070.528 |
22.548 |
3.715 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
353.784 |
(15.771) |
0.665 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
241.611 |
0.843 |
0.094 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
112.173 |
(16.614) |
0.571 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
191.407 |
3.294 |
1.599 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(79.234) |
(19.908) |
(1.028) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
(0.169) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(79.234) |
(19.908) |
(0.859) |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
(1.54) |
(0.39) |
(0.02) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(5.60) |
0.00 |
(89.48) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
24.99 |
0.00 |
69.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.43) |
(2.92) |
(0.20) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.19) |
(0.04) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
6.90 |
4.69 |
2.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.64 |
0.69 |
1.36 |
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 |
515.100 |
515.100 |
515.100 |
|
Reserves & Surplus |
(0.587) |
(20.495) |
(99.729) |
|
Net
worth |
514.513 |
494.605 |
415.371 |
|
|
|
|
|
|
long-term borrowings |
1259.527 |
2227.657 |
2243.491 |
|
Short term borrowings |
0.000 |
92.941 |
621.373 |
|
Total
borrowings |
1259.527 |
2320.598 |
2864.864 |
|
Debt/Equity
ratio |
2.448 |
4.692 |
6.897 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
0.960 |
0.000 |
1415.690 |
|
|
|
-100.000 |
|
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
0.960 |
0.000 |
1415.690 |
|
Profit/ (Loss) |
(0.859) |
(19.908) |
(79.234) |
|
|
(89.48%) |
|
(5.60%) |
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
CASE PENDING
|
HIGH COURT OF
KARNATAKA -BANGALORE BENCH |
COP 208/2013 |
|
M/S CONSOLIDATED CONSTRUCTION |
RESPONDENT/DEFNT. NAME |
M/S ASSOCIATE DECOR LIMITED |
|||
|
PETNR./APPNT. ADVOCATE |
MAHESH K V |
RESPNT./DEFNT. ADVOCATE |
VIVEK HOLLA FOR |
||
|
DATE FILED |
01/10/2013 |
CLASSIFICATION |
|
DISTRICT |
BANGALORE CITY |
|
STAGE |
PENDING FOR ADMISSON |
LAST POSTED FOR |
ADMISSION |
||
|
LAST ACTION TAKEN |
ADJOURNED |
LAST DATE OF ACTION |
09/10/2014 |
NEXT HEARING DATE |
|
|
LATEST ORDER |
LIST AFTER 2 WEEKS |
||||
|
BEFORE HON'BLE JUDGE/S |
A.S.BOPANNA |
||||
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10449167 |
01/08/2013 |
3,278,025.00 |
CORPROATION BANK |
BANDRA BRANCH,BAITUL
SARAF,105, HILL ROAD,BANDRA |
B85056984 |
|
2 |
10439198 |
15/06/2013 |
4,500,000.00 |
CORPROATION BANK |
BANDRA
BRANCH,BAITUL SARAF,105, HILL ROAD,BANDRA |
B80502941 |
|
3 |
10419401 |
22/02/2013 |
2,900,254.00 |
CORPORATION BANK |
BANDRA
BRANCH,BAITUL SARAF,105, HILL ROAD,BANDRA |
B73080293 |
|
4 |
10349378 |
13/04/2012 |
188,000,000.00 |
CORPORATION BANK |
BHARAT HOUSE,
GROUNG FLOOR, 104 M.S. MARG, FORT, |
B37482825 |
|
5 |
10335521 |
06/01/2012 |
15,000,000.00 |
CORPORATION BANK |
BANDRA BRANCH,
BAITUL SARAF,105, HILL ROAD,BANDRA |
B32109928 |
|
6 |
10307939 |
11/08/2011 |
716,000,000.00 |
CORPORATION BANK |
BHARAT HOUSE, GROUND FLOOR, 104, M. S. MARG, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B21331384 |
|
7 |
10206372 |
10/07/2014 * |
5,828,500,000.00 |
CORPORATION BANK |
BHARAT HOUSE NO. 104,GROUND FLOOR, MUMBAI SAMACHAR MARG, MUMBAI, MAHARASHTRA - 400023, INDIA |
C14339907 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from directors |
272.639 |
212.639 |
|
Total |
272.639 |
212.639 |
CHANGE OF ADDRESS:
The registered office of the company has been shifted from No. 400, 1st
Floor, 1st Block, 2nd Main Road, R.T. Nagar,
Bangalore-560032, Karnataka, India to the present address w.e.f. 01.03.2014
BACKGROUND:
The Company was incorporated in 2007 in the name and style of Star Panel Boards Limited for manufacturing of Particle Board both Plain and Laminated Particle Boards and laminates. The company has set up the plant at Malur near Bangalore, which is started its commercial production during June 2012 in respect of particle Boards & Oct 2012 for Laminates
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
i. Counter-Guarantee given by Banks for Bank Guarantees established |
|
|
|
- For Import of Capital Goods |
344.044 |
339.952 |
|
- For Bonded Warehouse |
6.000 |
3.000 |
|
ii. Letter of Credit established against the vendors for supply of capital goods for which material not received |
0.000 |
0.000 |
|
iii. Letter of Credit established against the vendors for supply of Raw Material for which material not received |
115.934 |
34.466 |
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· 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.61.81 |
|
|
1 |
Rs.96.77 |
|
Euro |
1 |
Rs.77.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--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 |
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 |
|
11 |
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.