MIRA INFORM REPORT

 

 

Report Date :

26.11.2014

 

IDENTIFICATION DETAILS

 

Name :

SHIRDI INDUSTRIES LIMITED (w.e.f. 12.06.1997)

 

 

Formerly Known As :

SHIRDI INDUSTRIES PRIVATE LIMITED (w.e.f. 09.05.1997)

 

SHIRDI INTERNATIONAL ENGINEERS PRIVATE LIMITED

 

 

Registered Office :

'A' Wing, Mhatre Pen Building, 2nd Floor, Senapati Bapat Marg, Dadar (West), Mumbai – 400 028, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

15.12.1993

 

 

Com. Reg. No.:

11-075613

 

 

Capital Investment / Paid-up Capital :

Rs.173.066 Millions

 

 

CIN No.:

[Company Identification No.]

U51900MH1993PLC075613

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMS26935G

 

 

PAN No.:

[Permanent Account No.]

AABCS9402N

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Plain and Pre-laminated Particle Boards, Plain and Pre-laminated MDF Boards, Decorative Laminates, Laminated Floorings etc.

 

 

No. of Employees :

600 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (12)

 

RATING

STATUS

PROPOSED CREDIT LINE

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

Limited with full security

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

The company has incurred huge accumulated loss which has eroded net worth of the company. Profitability of the company is under pressure.

 

Business is active. Payment terms are slow.

 

The company can be considered for business dealings on safe and secured trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

INDIAN ECONOMIC OVERVIEW

 

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

CRISIL

Rating

Long Term Rating: B+ (Suspended)

Rating Explanation

Risk prone credit quality and high risk of default.

Date

November 19, 2013

 

 

Rating Agency Name

CRISIL

Rating

Short Term Rating: A4 (Suspended)

Rating Explanation

Minimal degree of safety and very low credit risk.

Date

November 19, 2013

 

NOTE: Reason for Suspended: Absent of requisite Information Required by CRISIL.

 

 

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

 

Name :

Mr. Hiren Oza

Designation :

Director

Contact No.:

91-22-24318550

Date :

25.11.2014

 

 

LOCATIONS

 

Registered Office/ Head Office :

'A' Wing, Mhatre Pen Building, 2nd Floor, Senapati Bapat Marg, Dadar (West), Mumbai – 400 028, Maharashtra, India

Tel. No.:

91-22-24318550

Fax No.:

91-22-24372200

E-Mail :

ozahiren@asisindia.com

corporate@asisindia.com

corporate@eximkey.com

sraban.karan@asisindia.com

Website :

www.asisindia.com

Area :

2000 sq. ft.

Location :

Owned

 

 

Central Marketing Office :

18, Prime Centre, 2nd Floor, S.V. Road, Santacruz (West), Mumbai – 400 054, Maharashtra, India

Tel. No.:

91-22-67101111/ 67101133

Fax No.:

91-22-67101122

E-Mail :

marketing@asisindia.com

 

 

Factory 1 :

Plot No.1, Sector 9, IIE, Sidcul, Pant Nagar, District U.S. Nagar, Uttarakhand, India

 

 

Factory 2 :

Bhawanpur, District - Haridwar, Uttarakhand, India

 

 

Factory 3 :

SF No.170/2, Annur, District - Coimbatore, Tamilnadu, India

 

 

Factory 4 :

JSR Complex, E2/1, Bhiwandi, District - Thane, Maharashtra, India

 

 

Factory 5 :

Elavoore, Gummidipoondi Taluka, District - Thiruvallur, Tamilnadu, India (Under Implementation)

 

 

Branch Office :

Located at:

 

·         Ahmedabad

·         Bangalore

·         Bhubaneshwar

·         Chandigarh

·         Chennai

·         Hyderabad

·         Indore

·         Kolkata

·         Lucknow

·         Mumbai

·         Nagpur

·         New Delhi

·         Pune

·         Uttaranchal

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Rakeshkumar Hariram Agarwal

Designation :

Managing Director

Address :

Plot No.326, Matrusmruti, New Linking Road, Khar (West), Mumbai – 400 052, Maharashtra, India

Date of Birth/Age :

10.06.1963

Qualification :

BE in Mechanical Engineering

Date of Appointment :

01.04.2013

PAN No.:

ABMPA2307H

DIN No.:

00244328

 

 

Name :

Mr. Sarvesh Hariram Agarwal

Designation :

Whole Time Director

Address :

Plot No.326, Matrusmruti, New Linking Road, Khar (West), Mumbai – 400 052, Maharashtra, India

Date of Birth/Age :

30.05.1976

Qualification :

B. Com

Date of Appointment :

01.04.2013

PAN No.:

ADXPA6737E

DIN No. :

00244881

 

 

Name :

Kamalakanta Radhamohan Mishra

Designation :

Additional Director

Address :

LIC Colony, Bhanjanagar, District Ganjam – 761 126, Orissa, India 

Date of Birth/Age :

02.07.1962

Date of Appointment :

22.11.2013

DIN No.:

06741019

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

 

No. of Shares

Rakesh Hariram Agrawal

100000

Anita Mukesh Bansal

558800

Rukamani Hariram Agarwal

606450

Mukesh Bansal

100000

Anu Agarwal

734630

Sarvesh Hariram Agarwal

100000

Sajal Finance and Investment Private Limited, India

725000

Rachana Finance and Investment Private Limited, India

965000

Manhar Properties Private Limited, India

49000

Pratibha Finance and Investment Private Limited, India

185000

Dytel Finance and Investment Private Limited, India

180000

Hariram Agarwal

100000

Asha Sarvesh Agarwal

869970

Asis Industries Limited, India

8290000

Labh Capital Services Private Limited, India

1323600

Ameet Bansal

596845

Sumit Bansal

596845

Gaurav Agarwal

612720

Saurav Agarwal

612720

 

 

Total

17306580

 

 

As on 30.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Bodies corporate

67.71

Directors or relatives of Directors

32.29

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Plain and Pre-laminated Particle Boards, Plain and Pre-laminated MDF Boards, Decorative Laminates, Laminated Floorings etc.

 

 

Products :

Item Code No. (ITC Code)

Product Description

4411

Plain and Pre-laminated Medium Density Fiber Board

4410

Plain and Pre-laminated Particle Board

4823

High Pressure Laminates

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

·         Pre-laminated Particle Boards

·         Plain and Pre-laminated MDF Boards

·         Decorative Laminates

·         Laminated Floorings

Countries :

Middle East

 

 

Imports :

 

Products :

Raw Material

Countries :

Europe

 

 

Terms :

 

Selling :

Cash and Advance Payment

 

 

Purchasing :

Cash and Advance Payment

 

 

GENERAL INFORMATION

 

Suppliers :

Not Divulged

 

 

Customers :

Not Divulged

 

 

No. of Employees :

600 (Approximately)

 

 

Bankers :

·         Union Bank of India - Lead Bank of UBI Bank Consortium, Industrial Finance Branch, 66/80, Mumbai Samachar Marg, Fort, Mumbai – 400 023, Maharashtra, India

·         Dena Bank, 43/1/1, Gaba Complex, Kashipur Road, Rudrapur, Udham Singh Nagar – 263 153, Uttarakhand, India

·         UCO Bank, 359, D.N. Road, Mumbai – 400 001, Maharashtra, India

·         Bank of India

·         Indian Bank

·         Standard Chartered Bank

·         State Bank of India, SME Backbay Reclamation Branch, Mittal Court, B Wing, Nariman Point, Mumbai – 400 021, Maharashtra, India

 

 

Facilities :

SECURED LOANS

01.07.2013 to

31.03.2014

(Rs. In Millions)

01.04.2012 to 30.06.2013

(Rs. In Millions)

LONG TERM BORROWINGS

 

 

Rupee term loans from banks

2456.940

954.720

Loans taken for vehicles

0.530

0.570

 

 

 

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

832.190

2058.670

Loans repayable on demand from banks

223.770

182.880

 

 

 

Total

3513.430

3196.840

 

Auditors :

 

Name :

Haribhakti and Company

Chartered Accountants

Address :

701, Leele Business Park, Andheri Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra, India

PAN No. :

AAAFH2010F

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :

v      Asis Industries Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

30000000

Equity Shares

Rs.10/- each

Rs.300.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

17306580

Equity Shares

Rs.10/- each

Rs.173.066 Millions

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

01.07.2013 to

31.03.2014

(9 Months)

01.04.2012 to 30.06.2013

(15 Months)

01.04.2011 to 31.03.2012

(12 Months)

I.        EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

173.070

173.070

173.070

(b) Reserves & Surplus

(733.520)

461.770

2758.750

(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)

(560.450)

634.840

2931.820

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

2512.280

1019.550

946.020

(b) Deferred tax liabilities (Net)

0.000

0.000

73.610

(c) Other long term liabilities

7.540

22.060

86.750

(d) long-term provisions

20.240

20.910

15.580

Total Non-current Liabilities (3)

2540.060

1062.520

1121.960

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1155.800

2375.020

1969.750

(b) Trade payables

390.940

522.570

349.480

(c) Other current liabilities

313.890

290.210

212.950

(d) Short-term provisions

2.580

1.740

77.260

Total Current Liabilities (4)

1863.210

3189.540

2609.440

 

 

 

 

TOTAL

3842.820

4886.900

6663.220

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1375.830

2254.480

3443.050

(ii) Intangible Assets

0.000

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

0.000

0.000

50.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

143.290

161.670

208.300

(e) Other Non-current assets

86.370

9.360

0.000

Total Non-Current Assets

1605.490

2425.510

3701.350

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

634.740

711.260

1387.020

(c) Trade receivables

566.900

1440.940

1187.040

(d) Cash and cash equivalents

23.540

23.090

44.290

(e) Short-term loans and advances

1012.150

286.100

298.120

(f) Other current assets

 

 

45.400

Total Current Assets

2237.330

2461.390

2961.870

 

 

 

 

TOTAL

3842.820

4886.900

6663.220

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

01.07.2013 to

31.03.2014

(9 Months)

01.04.2012 to 30.06.2013

(15 Months)

01.04.2011 to 31.03.2012

(12 Months)

 

SALES

 

 

 

 

 

Revenue from operations

1289.740

5004.980

4639.45

 

 

Other Income

2.670

3.000

52.35

 

 

TOTAL                                    

1292.410

5007.980

4691.800

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

397.780

1817.270

1313.980

 

 

Purchases of Stock-in-Trade

117.000

2480.550

1731.200

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(31.970)

224.730

87.620

 

 

Employees benefits expense

111.830

185.060

129.400

 

 

Other expenses

380.530

547.240

545.310

 

 

TOTAL                                    

975.170

5254.850

3807.510

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

317.240

(246.870)

884.290

 

 

 

 

 

Less

FINANCIAL EXPENSES                        

383.290

564.570

384.030

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

(66.050)

(811.440)

500.260

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION        

878.650

201.270

207.080

 

 

 

 

 

 

PROFIT BEFORE PRIOR PERIOD ITEMS, EXCEPTIONAL ITEMS, EXTRAORDINARY ITEMS AND TAX

(944.700)

(1012.710)

293.180

 

 

 

 

 

Add

EXCEPTIONAL ITEMS BEFORE TAX

(250.590)

(88.010)

(12.140)

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(1195.290)

(1100.720)

281.040

 

 

 

 

 

Less

TAX                                                                 

0.000

(58.920)

14.810

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

(1195.290)

(1041.800)

266.230

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

FOB Value of sales 

47.190

47.190

59.900

 

TOTAL EARNINGS

47.190

47.190

59.900

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

69.07

(60.20)

15.38

 

 

KEY RATIOS

 

PARTICULARS

 

 

01.07.2013 to

31.03.2014

(9 Months)

01.04.2012 to 30.06.2013

(15 Months)

01.04.2011 to 31.03.2012

(12 Months)

Net Profit Margin

(PAT/Sales)

(%)

(92.68)

(20.82)

5.74

 

 

 

 

 

Operating Profit Margin

(PBDIT/ Sales)

(%)

24.60

(4.93)

19.06

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(31.10)

(22.52)

4.25

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

2.13

(1.73)

0.10

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

(6.54)

5.35

0.99

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.20

0.77

1.14

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

01.04.2011 to 31.03.2012

01.04.2012 to 30.06.2013

01.07.2013 to

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Share Capital

173.070

173.070

173.070

Reserves & Surplus

2758.750

461.770

(733.520)

Net worth

2931.820

634.840

(560.450)

 

 

 

 

long-term borrowings

946.020

1019.550

2512.280

Short term borrowings

1969.750

2375.020

1155.800

Total borrowings

2915.770

3394.570

3668.080

Debt/Equity ratio

0.995

5.347

-6.545

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

01.04.2011 to 31.03.2012

01.04.2012 to 30.06.2013

01.07.2013 to

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Revenue from operations

4639.450

5004.980

1289.740

 

 

7.879

(74.231)

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

01.04.2011 to 31.03.2012

01.04.2012 to 30.06.2013

01.07.2013 to

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Revenue from operations

4639.450

5004.980

1289.740

Profit

266.230

(1041.800)

(1195.290)

 

5.74%

(20.82%)

(92.68%)

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

CURRENT MATURITIES OF LONG TERM DEBTS

(Rs. In Millions)

Particulars

01.07.2013 to

31.03.2014

(9 Months)

01.04.2012 to 30.06.2013

(15 Months)

01.04.2011 to 31.03.2012

(12 Months)

Current Maturities of Long Term Debts

223.520

223.690

193.940

 

 

 

 

Total

223.520

223.690

193.940

 

 

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

No

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

Yes

20]

Export / Import details (if applicable)

Yes

21]

Market information

-----

22]

Litigations that the firm / promoter involved in

-----

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

 

 

UNSECURED LOANS

 

PARTICULAR

01.07.2013 to

31.03.2014

(Rs. In Millions)

01.04.2012 to 30.06.2013

(Rs. In Millions)

LONG TERM BORROWINGS

 

 

Loans and advances from directors

54.810

64.260

 

 

 

SHORT TERM BORROWINGS

 

 

Other loans and advances

99.840

133.470

 

 

 

Total

154.650

197.730

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10422278

30/03/2013

19,000,000.00

UCO BANK

359, D N ROAD, MUMBAI, Maharashtra - 400001, INDIA

B73900698

2

10416410

13/02/2013

130,000,000.00

STATE BANK OF INDIA

SME BACKBAY RECLMATION BRANCH, MITTAL COURT, B WI 
NG, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA

B72199516

3

10409662

30/10/2013 *

72,000,000.00

Edelweiss Asset Reconstruction Company Limited

Edelweiss House, Off. C.S.T Road, Kalina, Mumbai, Maharashtra - 400098, INDIA

B90454331

4

10386319

29/03/2014 *

105,500,000.00

JM Financial Asset Reconstruction Company Private 
Limited

7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai, Maharashtra - 400025, INDIA

C14094387

5

10386314

29/03/2014 *

200,000,000.00

JM Financial Asset Reconstruction Company Private 
Limited

7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi  Mumbai, Maharashtra - 400025, INDIA

C14094304

6

10362165

29/03/2014 *

50,000,000.00

JM Financial Asset Reconstruction Company Private 
Limited

7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai, Maharashtra - 400025, INDIA

C14094213

7

10352715

13/04/2012

40,000,000.00

DENA BANK

43/1/1, GABA COMPLEX, KASHIPUR ROAD, RUDRAPUR, UDHAM SINGH NAGAR, Uttarakhand - 263153, INDIA

B38597621

8

10349842

21/09/2011

21,000,000.00

State Bank of India

SME Backbay Reclamation Branch, Nariman Point, Mumbai, Maharashtra - 400021, INDIA

B29640588

9

10241603

29/03/2014 *

50,000,000.00

JM Financial Asset Reconstruction Company Private 
Limited

7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai, Maharashtra - 400025, INDIA

C14094148

10

10182805

29/03/2014 *

15,000,000.00

JM Financial Asset Reconstruction Company Private 
Limited

7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai, Maharashtra - 400025, INDIA

C14094114

11

10182803

29/03/2014 *

20,000,000.00

JM Financial Asset Reconstruction Company Private 
Limited

7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai, Maharashtra - 400025, INDIA

C14094049

12

10164205

04/05/2009

20,000,000.00

INDIAN BANK

MUMBAI FORT BRANCH, UNITED INDIA BUILDING, SIR P.M. ROAD, FORT., MUMBAI, Maharashtra - 400001, INDIA

A64510548

13

10081067

29/03/2014 *

50,000,000.00

JM Financial Asset Reconstruction Company Private 
Limited

7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai, Maharashtra - 400025, INDIA

C14093991

14

10047095

30/06/2014 *

3,366,600,000.00

JM Financial Asset Reconstruction Company Private 
Limited

7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai, Maharashtra - 400025, INDIA

C21153465

15

80015874

30/06/2014 *

3,366,600,000.00

JM Financial Asset Reconstruction Company Private 
Limited

7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai, Maharashtra - 400025, INDIA

C21153523

16

90158368

29/03/2014 *

5,000,000.00

JM Financial Asset Reconstruction Company Private 
Limited

7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai, Maharashtra - 400025, INDIA

C14094726

17

80015870

29/03/2014 *

2,500,000.00

JM Financial Asset Reconstruction Company Private 
Limited

7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai, Maharashtra - 400025, INDIA

C14094437

18

90156831

29/03/2014 *

2,500,000.00

JM Financial Asset Reconstruction Company Private 
Limited

7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai, Maharashtra - 400025, INDIA

C14094650

19

90159701

29/03/2014 *

2,500,000.00

JM Financial Asset Reconstruction Company Private 
Limited

7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai, Maharashtra - 400025, INDIA

C14094783

20

80015877

29/03/2014 *

5,000,000.00

JM Financial Asset Reconstruction Company Private 
Limited

7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai, Maharashtra - 400025, INDIA

C14094551

 

* Date of charge modification

 

 

FIXED ASSETS

 

œ      Land

œ      Buildings

œ      Plant and Equipment

œ      Furniture and Fixtures

œ      Vehicles

œ      Motor Vehicles

 

 

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 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.61.92

UK Pound

1

Rs.97.12

Euro

1

Rs.76.93

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ANK

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

2

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

2

--PROFITABILIRY

1~10

--

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

--

--CREDIT LINES

1~10

--

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

12

 

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.