MIRA INFORM REPORT

 

 

Report Date :

19.11.2014

 

IDENTIFICATION DETAILS

 

Name :

MEHTA TUBES LIMITED

 

 

Formerly Known As :

MEHTA TUBES PRIVATE LIMITED

 

 

Registered Office :

Char Rasta, Nana Pondha, Taluka Dharmpur, District Valsad – 396126, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

03.06.1988

 

 

Com. Reg. No.:

04-010794

 

 

Capital Investment / Paid-up Capital :

Rs.42.944 Millions

 

 

 

CIN No.:

[Company Identification No.]

U27109GJ1988PLC010794

 

 

TIN No.:

Not Available

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCM9377R

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of Copper and Brass Pipes, Tubes, Rods and Strips.

 

 

No. of Employees :

Information denied by management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (49)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Exists

 

 

Comments :

Subject is an established company having satisfactory track record.

 

There seems dip in the sales turnover as well as profit of the company during 2013. However, general financial position of the company seems to be decent.

 

Trade relations are fair. Business is active. Payment terms are reported to be slow but correct.

 

The company can be considered 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.

 

 

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

 

Rating Agency Name

CRISIL

Rating

Long Term Rating = BBB-

Rating Explanation

Have moderate degree of safety and carry moderate credit risk. 

Date

14.08.2014

 

 

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 DENIED

 

Management Non Co-Operative (Tel No.: 91-22-43404046)

 

 

LOCATIONS

 

Registered Office/Factory :

Char Rasta, Nana Pondha, Talukas Dharmpur, District Valsad – 396126, Gujarat, India

Tel. No.:

91-2633-250112

Fax No.:

Not Available

E-Mail :

sales@mehta-group.com

admin@mehta-group.com

mukesh@mehta-group.com

mehtatubes@vsnl.com

Website :

http://www.mehtatubes.com

Location :

Owned

 

 

Head Office :

No. 920-924, Plaza Panchsheel, 9th Floor, No. 55 Huges Road, Near Dharam Palace, Chowpatty, Mumbai -400007, Maharashtra, India

Tel. No.:

91-22-43404040

Fax No.:

91-22-43404050

E-Mail :

info@mehta-group.com

nishit@mehta-group.com

 

 

DIRECTORS

 

As on 30.09.2013

 

Name :

Mr. Mangilal Vacharaj Mehta

Designation :

Director

Address :

107-B, Shripal Nagar, Mumbai – 400 006, Maharashtra, India

Date of Birth/Age :

14.07.1950

Date of Appointment :

03.06.1988

DIN No.:

02499096

 

 

Name :

Mr. Rikhabchand  Vachraj Mehta

Designation :

Director

Address :

107-B, Shripal Nagar, Mumbai – 400 006, Maharashtra, India

Date of Birth/Age :

12.05.1964

Date of Appointment :

03.06.1988

DIN No.:

01597368

 

 

Name :

Mr. Mukesh Mangilal Mehta

Designation :

Director

Address :

74, Subhadra Mansion, walkeshwar Road, Mumbai- 400006, Maharashtra, India

Date of Appointment :

28.12.2005

DIN No.:

01492795

 

 

Name :

Mr. Sanjay Ramniklal Shah

Designation :

Director 

Address :

4C, Ridge Apartment, Rodge Road, Malabar Hill, Mumbai- 400006, Maharashtra, India.

Date of Appointment :

28.12.2005

DIN No.:

02505950

 

 

KEY EXECUTIVES

 

Name :

Mr. Dinesh Shah

Designation :

Accounts Manager

 

 

MAJOR SHAREHOLDERS

 

As on 30.09.2013

 

Names of Shareholders

 

No. of Shares

Mangilal V. Mehta

 

41937

Rikabchand V. Mehta

 

53619

Mukesh M. Mehta

 

66000

Ganpat V. Mehta

 

23787

Mangilal V. Mehta HUF

 

3000

Rikabchand V. Mehta HUF

 

1200

Kavita M. Mehta

 

1425

Neeru M. Mehta

 

1335

Jayaben M. Mehta

 

4050

Mahesh M. Mehta

 

1878

Anita Mehta

 

2775

Kusumiben V Mehta

 

2268

Urmila R. Mehta

 

8250

Piyush S. Vyas

 

5880

Sanjay R.  Shah

 

36204

Vijay B Morakhia

 

1800

Dilip S. Shah

 

5004

Shailesh K. Shah

 

3600

Jayesh B. Morakhia

 

56400

Vimlaben K. Shah

 

5850

Kamlaben R. Shah

 

1260

AMI Impex Company Limited, Japan 

 

101919

Total

 

429441

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2013

 

Category

Percentage

Bodies corporate

23.73

Directors or relatives of Directors

76.27

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of Copper and Brass Pipes, Tubes, Rods and Strips

 

 

Products :

Product Description

Item Code No. (ITC Code)

Non Ferrous Products

7411.00

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

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 :

Information denied by management

 

 

Bankers :
  • Citi Bank NA, Trent House, 2nd Floor, Plot No. C 60, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, Maharashtra, India
  • ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India
  • Bank of India, Ballard Estate
  • State Bank of India, Hughes Road Branch
  • Bank of Baroda, Mumbai
  • State Bank of India, Sahar
  • Punjab National Bank
  • Bank of Rajasthan

 

 

Facilities :

SECURED LOANS

31.03.2013

Rs. In Millions

31.03.2012

Rs. In Millions

SHORT TERM BORROWINGS

 

 

Working Capital Loans – Citi Bank

69.063

110.801

Packing Credit – Citi Bank

70.702

27.242

Total

139.765

138.043

 

 

 

Banking Relations :

--

 

 

Financial Institution :

3i Infotech Trusteeship Services Limited, 3rd to 6th Floor, International Infotech Park, Tower No.5, Vashi Railway Station Complex, Vashi, Navi Mumbai-400703, Maharashtra, India

 

 

Auditors :

 

Name :

Mehta Lodha and Company

Chartered Accountants  

Address :

105 Sakar -1, First Floor, Opposite Gandhigram Railway Station, Ashram Road, Ahmedabad – 380 009, Gujarat, India

Tel. No.:

91-79-26586683/85

Fax No.:

91-79-26586684

PAN No.:

AACFM6805H

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates:
  • Mukesh Metal India Private Limited
  • Metal Gems
  • Brass Copper and Alloys (India) Limited
  • Met India

 

 

CAPITAL STRUCTURE

 

As on 30.09.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

500000

Equity Shares

Rs.100/- each

Rs.50.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

429441

Equity Shares

Rs.10/- each

Rs.42.944 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

42.944

42.944

14.315

(b) Reserves & Surplus

211.738

191.193

194.614

(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)

254.682

234.137

208.929

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

16.183

16.705

17.105

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

16.183

16.705

17.105

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

293.473

393.093

308.542

(b) Trade payables

73.034

57.866

17.000

(c) Other current liabilities

10.273

11.947

29.142

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

376.780

462.906

354.684

 

 

 

 

TOTAL

647.645

713.748

580.718

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

147.230

155.309

150.582

(ii) Intangible Assets

26.134

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.139

0.139

0.139

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

6.080

4.484

6.430

(e) Other Non-current assets

1.735

1.667

1.594

Total Non-Current Assets

181.318

161.599

158.745

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

175.109

237.714

145.897

(c) Trade receivables

180.009

224.835

164.392

(d) Cash and cash equivalents

4.961

2.254

10.474

(e) Short-term loans and advances

105.930

87.164

101.122

(f) Other current assets

0.318

0.182

0.088

Total Current Assets

466.327

552.149

421.973

 

 

 

 

TOTAL

647.645

713.748

580.718

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

790.214

804.237

749.310

 

 

Other Income

(5.235)

8.208

1.833

 

 

TOTAL                                         (A)

784.979

812.445

751.143

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

500.301

707.746

683.859

 

 

Purchase of Stock-in-trade

54.950

11.184

0.000

 

 

Changes in Inventories of finished goods, work-in-progress and stock-in-trade

60.524

(89.089)

(75.307)

 

 

Employee Benefits Expenses

7.101

3.554

3.572

 

 

Other Expenses

104.510

110.318

82.889

 

 

TOTAL                                         (B)

727.386

743.713

695.013

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

57.593

68.732

56.130

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

17.497

19.396

12.502

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                (E)

40.096

49.336

43.628

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                     (F)

12.678

12.831

12.299

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX (E-F)                  (G)     

27.418

36.505

31.329

 

 

 

 

 

Less

TAX                                                                  (H)

6.873

11.296

14.145

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX (G-H)                    (I)

20.545

25.209

17.184

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

97.072

71.863

54.679

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

117.617

97.072

71.863

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

457.118

330.049

241.330

 

TOTAL EARNINGS

457.118

330.049

241.330

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

28.494

402.410

220.655

 

 

Stores & Spares

1.852

1.490

0.000

 

TOTAL IMPORTS

30.346

403.900

220.655

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

47.84

58.70

40.02

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Net Profit Margin

(PAT/Sales)

(%)

2.60

3.13

2.29

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

7.29

8.55

7.49

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

4.23

5.12

5.40

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.11

0.16

0.15

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.15

1.68

1.48

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.24

1.19

1.19

 

 

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

14.315

42.944

42.944

Reserves & Surplus

194.614

191.193

211.738

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

 

208.929

234.137

254.682

Net worth

 

 

 

 

0.000

0.000

0.000

Long Term borrowings

308.542

393.093

293.473

Short Term borrowings

308.542

393.093

293.473

Total borrowings

1.477

1.679

1.152

Debt/Equity ratio

14.315

42.944

42.944

 

 

 

 

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

749.310

804.237

790.214

 

 

7.330

(1.744)

 

 

 

 

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

749.310

804.237

790.214

Profit

17.184

25.209

20.545

 

2.29%

3.13%

2.60%

 

 

 

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

Yes

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

Yes

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

Yes

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

Yes

30]

Major Shareholders, if available

Yes

31]

Date of Birth of Proprietor/Partner/Director, if available

Yes

32]

PAN of Proprietor/Partner/Director, if available

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

Yes

 

 

LITIGATION DETAILS

 

HIGH COURT OF GUJARAT

 

TAX APPEAL No. 453 of 2011

 

Status : PENDING

(Converted from : ST/427/2009)

CCIN No : 001092201100453

 

Last Listing Date: 13/08/2012

 

Coram

HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI

HONOURABLE MR.JUSTICE N.V.ANJARIA

Not Before :

HONOURABLE MR.JUSTICE C.K.BUCH

 

 

S.NO.

Name of the Petitioner

Advocate On Record

1

COMMISSIONER OF CENTRAL EXCISE & CUSTOMS DAMAN

MR RJ OZA for: Appellant(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

 

 

S.NO.

Name of the Respondant

Advocate On Record

1

MEHTA TUBES PRIVATE LIMITED

MR HARDIK P MODH for :Opponent(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

 

 

Presented On

: 10/02/2009

Registered On

: 10/02/2009

Bench Category

: DIVISION BENCH

District

: VALSAD

Case Originated From

: THROUGH ADVOCATE

Listed

: 110 times

 

Stage Name

: FOR REGULAR ADMISSION

Act

CENTRAL EXCISES AND SALT ACT, 1944

Other Forums

S.No.

Casedetails

Tribunal Referrence

ORDER PASSED BY

Judgement Date

Place

1

15/08/2011

VAKALATNAMA

MR HARDIK P MODH ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

-

MR HARDIK P MODH:1

2

15/08/2011

VAKALATNAMA

MR RJ OZA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

-

MR RJ OZA:1

3

25/07/2012

APPEARANCE NOTE

MR RJ OZA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

-

MR RJ OZA:1

4

08/10/2012

VAKALATNAMA

MR HARDIK P MODH ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

5

MR HARDIK P MODH:1

Court Proceedings

 

S. No.

Notified Date

Court

Code

Board Sr. No.

Stage

Action

Coram

1

15/07/2009

3

-

FOR REGULAR ADMISSION

NEXT DATE

REGISTRAR (JUDICIAL)

2

27/08/2009

3

-

FOR OFFICE OBJECTION

NEXT DATE

HONOURABLE THE CHIEF JUSTICE MR. K.S.RADHAKRISHNAN

HONOURABLE MR.JUSTICE AKIL KURESHI

3

21/10/2011

7

-

FOR ORDERS

NEXT DATE

HONOURABLE MR.JUSTICE AKIL KURESHI

HONOURABLE MS JUSTICE SONIA GOKANI

4

03/07/2012

3

42

FOR ORDERS

NEXT DATE

HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI

HONOURABLE MR.JUSTICE N.V.ANJARIA

5

17/07/2012

3

22

FOR REGULAR ADMISSION

NEXT DATE

HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI

HONOURABLE MR.JUSTICE N.V.ANJARIA

6

23/07/2012

3

37

FOR REGULAR ADMISSION

NEXT DATE

HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI

HONOURABLE MR.JUSTICE N.V.ANJARIA

7

30/07/2012

3

25

FOR REGULAR ADMISSION

NEXT DATE

HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI

HONOURABLE MR.JUSTICE N.V.ANJARIA

8

07/08/2012

3

32

FOR REGULAR ADMISSION

NEXT DATE

HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI

HONOURABLE MR.JUSTICE N.V.ANJARIA

9

13/08/2012

3

19

FOR REGULAR ADMISSION

FIXED RULE / ADMIT

HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI

HONOURABLE MR.JUSTICE N.V.ANJARIA

Available Orders

S. No.

Case Details

Judge Name

Order Date

CAV

Judgment/Order

Download

1

TAX APPEAL/453/2011

HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI

HONOURABLE MR.JUSTICE N.V.ANJARIA

07/08/2012

N

ORDER

Download

2

TAX APPEAL/453/2011

HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI

HONOURABLE MR.JUSTICE N.V.ANJARIA

30/07/2012

N

ORDER

Download

3

TAX APPEAL/453/2011

HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI

HONOURABLE MR.JUSTICE N.V.ANJARIA

13/08/2012

N

ORDER

Download

 

Certified Copy

 

S. No.

ApplicantName

ApplicationType

Application Date

UOL Number

Order Date

Notify Date

Delivery Date

Status

Nature Of Document

1

MR RJ OZA

ORDINARY

14/08/2012

O/26950/2012

13/08/2012

17/08/2012

17/08/2012

Delivered

ORDER

 

 

UNSECURED LOANS:

 

Particulars

31.03.2013

Rs. In Millions

31.03.2012

Rs. In Millions

SHORT TERM BORROWINGS

 

 

Loan and advances from related parties repayable on demand

132.358

254.130

Others

21.350

0.920

Total

153.708

255.050

 

 

INDEX OF CHARGE:

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10528882

30/07/2014

140,000,000.00

ING Vysya Bank Limited

Ground Floor, G-34, Aderbad Building, Hughes Road., Mumbai, Maharashtra - 400007, India

C32093346

2

10508745

23/05/2014

225,000,000.00

ICICI Bank Limited

Landmarkrace Cource Circle, Alkapuri, Baroda, Gujarat - 390015, India

C11087707

3

10406784

31/12/2012

470,800,000.00

ICICI Bank Limited

Landmarkrace Cource Circle, Alkapuri, Baroda, Gujarat - 390015, India

B69095768

4

10406792

31/12/2012

470,800,000.00

ICICI Bank Limited

Landmarkrace Cource Circle, Alkapuri, Baroda, Gujarat - 390015, India

B69097566

5

10066006

10/07/2007

15,000,000.00

s

Global Corporate Banking, 1st Floor, Plot No. C- 61, Block -G, Bkc, Bandra East, Mumbai, Maharashtra - 400051, India

A21066774

6

90111868

24/08/2011 *

140,000,000.00

Citibank N. A.

Trent House, 2nd Floor, G Block, Plot No.C60, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra 
- 400051, India

B19578350

7

90111753

24/08/2011 *

140,000,000.00

Citibank N. A.

Trent House, 2nd Floor, G Block, Plot No.C60, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra 
- 400051, India

B19578996

*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.61.80

UK Pound

1

Rs.96.76

Euro

1

Rs.77.09

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

VNT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

5

--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

 

49

 

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

s

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.