MIRA
INFORM REPORT
|
Report Date : |
26.11.2014 |
IDENTIFICATION DETAILS
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Name : |
VIJAYA STEELS LIMITED |
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Registered
Office : |
SY. No. 84/1, Kallanayakanahalli, Anchepalya (Near 220 KVA Sub Station),
Kunigal Taluk, Tumkur – 572130, Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
31.07.1972 |
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Com. Reg. No.: |
08-002224 |
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Capital Investment
/ Paid-up Capital : |
Rs. 78.219 Millions |
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CIN No.: [Company Identification
No.] |
U85110KA1972PLC002224 |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AAACV3432C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing of Billets |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (17) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having a moderate tack. The company has incurred a huge accumulated loss which has eroded the Net
worth of the company during 2014. However, business is active. Payment terms are reported to be 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.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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
Management Non Co-operative (91-80-26700173)
LOCATIONS
|
Registered Office : |
SY. No. 84/1, Kallanayakanahalli, Anchepalya (Near 220 KVA Sub
Station), Kunigal Taluk, Tumkur – 572130, Karnataka, India |
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Tel. No.: |
Not Divulged |
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Fax No.: |
Not Divulged |
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E-Mail : |
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Website : |
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Factory : |
17/1, Gangadharanapalya, Nelmangala Taluk, Kasba Hobli, Bangalore –
562123, Karnataka, India |
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Tel. No.: |
91-8118-329511/589/966 |
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Fax No.: |
91-80-27726641 |
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Trading Firm : |
79/1, New Bamboo Bazaar, Bangalore – 560002, Karnataka, India |
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Tel. No.: |
91-80-26700173 |
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Fax No.: |
91-80-26702715 |
DIRECTORS
As on 30.09.2014
|
Name : |
Sawarrnal Tulsyan |
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Designation : |
Director |
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Address : |
19/12, 1st Main Road, Jayamahal, Bangalore – 560046,
Karnataka, India |
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Date of Birth/Age : |
28.05.1948 |
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Date of Appointment : |
16.05.1991 |
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DIN No.: |
00276911 |
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Other Directorship :
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Name : |
Biina Tulsyan |
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Designation : |
Director |
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Address : |
19/12, 1st Main Road, Jayamahal, Bangalore – 560046,
Karnataka, India |
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Date of Birth/Age : |
08.01.1949 |
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Date of Appointment : |
05.01.2006 |
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DIN No.: |
00276950 |
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Name : |
Akkshye Tulsyan |
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Designation : |
Director |
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Address : |
19/12, 1st Main Road, Jayamahal, Bangalore – 560046,
Karnataka, India |
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Date of Birth/Age : |
18.12.1981 |
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Date of Appointment : |
15.06.2004 |
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DIN No.: |
00277031 |
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MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
Type of Shares |
No. of Shares |
|
Biina Tulsyan |
Equity A |
123825 |
|
Biina Tulsyan |
Equity B |
22400 |
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Sawarrnal Tulsyan |
Equity A |
408125 |
|
Sawarrnal Tulsyan |
Equity B |
160650 |
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Akkshye Tulsyan |
Equity A |
112500 |
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Akkshye Tulsyan |
Equity B |
27500 |
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M/s. Shivganga Galvansing |
Equity A |
8250 |
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Mahesh Mehta (HUF) |
Equity A |
1500 |
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Biina Devi Singhania |
Equity A |
6000 |
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Nirmal Singhania |
Equity A |
1350 |
|
Rajkumar Gupta |
Equity A |
6000 |
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Nirupama Singhavi |
Equity A |
1500 |
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Sushma Kamawat |
Equity A |
14800 |
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Devi Devraj |
Equity A |
7400 |
|
Jabal Commercial Private Limited |
Equity B |
4500 |
|
Cresent Leasing Limited |
Equity B |
7200 |
|
Pallavi Apartment |
Equity B |
7200 |
|
Bholababa Roadways Private Limited |
Equity B |
30000 |
|
Basukinath Design Private Limited |
Equity B |
12500 |
|
SitalaTimber Private Limited |
Equity B |
12500 |
|
Twinkle Vanjya Private Limited |
Equity B |
12500 |
|
Ventax Supplier Private Limited |
Equity B |
25000 |
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Kalina Machines Private Limited |
Equity B |
7500 |
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As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
2.48 |
|
Directors or relatives of Directors |
92.50 |
|
Other top fifty shareholders |
5.02 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Billets |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
·
JSW Steel Limited ·
Golden Gate Properties Limited ·
Prestige Estate Projects Private Limited ·
Adarsh Developers ·
Rohini Group ·
Nitesh Estate ·
SPML Engineering Life ·
H. M. Group ·
Mantri Developers |
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No. of Employees : |
Not Divulged |
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Bankers : |
·
The Shamrao Vithal Co-operative Bank Limited,
Yeshwanthpur Branch, Ground Floor, Mayur Complex, No. 36 I Main, I Stage, IV Phase
Gokul Yeshwanthpur, Bangalore – 560022, Karnataka, India |
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Facilities : |
(Rs.
In Millions)
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Auditors : |
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Name : |
R.S. Agarwala and Company Chartered Accountant |
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Address : |
No. 48 Mezanine Floor, Hitananda Building, Lavelle Road, Bangalore,
Karnataka, India |
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PAN No.: |
ABQPG4370A |
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Collaborators : |
Not divulged |
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Associate : |
·
Tulsyan Udyog, India |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares (Class A) |
Rs.10/- each |
Rs.5.000 Million |
|
950000 |
Equity Shares (Class B) |
Rs.100/- each |
Rs. 95.000 Million |
|
|
Total |
|
Rs. 100.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
329450 |
Equity Shares (Class A) |
Rs.10/- each |
Rs. 3.294
Millions |
|
749250 |
Equity Shares (Class B) |
Rs.100/-
each |
Rs. 74.925
Millions |
|
|
|
|
Rs. 78.219 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 |
78.219 |
78.219 |
78.219 |
|
(b) Reserves & Surplus |
(1281.544) |
(485.987) |
79.587 |
|
(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) |
(1203.325) |
(407.768) |
157.806 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
113.108 |
113.591 |
149.679 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.285 |
|
Total
Non-current Liabilities (3) |
113.108 |
113.591 |
149.964 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1648.778 |
1321.326 |
1121.339 |
|
(b) Trade payables |
264.674 |
352.485 |
147.676 |
|
(c) Other current liabilities |
40.056 |
56.120 |
3.976 |
|
(d) Short-term provisions |
0.000 |
0.000 |
1.681 |
|
Total
Current Liabilities (4) |
1953.508 |
1729.931 |
1274.672 |
|
|
|
|
|
|
TOTAL |
863.291 |
1435.754 |
1582.442 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
482.191 |
502.727 |
514.058 |
|
(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 |
0.500 |
0.500 |
0.500 |
|
(c) Deferred tax assets (net) |
0.000 |
180.330 |
61.006 |
|
(d) Long-term Loan and Advances |
32.715 |
68.480 |
180.629 |
|
(e) Other Non-current assets |
0.000 |
8.836 |
8.836 |
|
Total
Non-Current Assets |
515.406 |
760.873 |
765.029 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
323.468 |
309.264 |
255.807 |
|
(c) Trade receivables |
15.104 |
355.644 |
544.166 |
|
(d) Cash and cash equivalents |
9.313 |
0.224 |
13.137 |
|
(e) Short-term loans and
advances |
0.000 |
9.749 |
4.303 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
347.885 |
674.881 |
817.413 |
|
|
|
|
|
|
TOTAL |
863.291 |
1435.754 |
1582.442 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1582.012 |
1135.750 |
1065.194 |
|
|
Other Income |
156.849 |
33.166 |
86.602 |
|
|
TOTAL
(A) |
1738.861 |
1168.916 |
1151.796 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1220.020 |
968.514 |
962.688 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(59.438) |
(27.370) |
36.093 |
|
|
Employees benefits expense |
10.385 |
13.611 |
16.484 |
|
|
Other expenses |
802.051 |
653.220 |
256.101 |
|
|
|
0.000 |
0.000 |
(1.159) |
|
|
TOTAL
(B) |
1973.018 |
1607.975 |
1270.207 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(234.157) |
(439.059) |
(118.411) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
349.718 |
224.095 |
137.135 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(583.875) |
(663.154) |
(255.546) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
22.515 |
21.745 |
35.794 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(606.390) |
(684.899) |
(291.340) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
189.167 |
(119.325) |
(125.109) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(795.557) |
(565.574) |
(166.231) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.00 |
0.00 |
0.00 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(50.29) |
(49.80) |
(15.61) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
(14.80) |
(38.66) |
(11.12) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(70.28) |
(54.58) |
(19.16) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.50 |
1.68 |
(1.85) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(1.46) |
(3.52) |
8.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.18 |
0.39 |
0.64 |
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 |
78.219 |
78.219 |
78.219 |
|
Reserves & Surplus |
79.587 |
(485.987) |
(1281.544) |
|
Net
worth |
157.806 |
(407.768) |
(1203.325) |
|
|
|
|
|
|
long-term borrowings |
149.679 |
113.591 |
113.108 |
|
Short term borrowings |
1121.339 |
1321.326 |
1648.778 |
|
Total
borrowings |
1271.018 |
1434.917 |
1761.886 |
|
Debt/Equity
ratio |
8.054 |
(3.519) |
(1.464) |
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) |
|
Sales |
1065.194 |
1135.750 |
1582.012 |
|
|
|
6.624 |
39.292 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1065.194 |
1135.750 |
1582.012 |
|
Profit |
(166.231) |
(565.574) |
(795.557) |
|
|
(15.61%) |
(49.80%) |
(50.29%) |
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 |
No |
|
10] |
Designation of contact person |
No |
|
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 |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
LITIGATIONS DETAILS :
|
High Court of
Karnataka –Principal Bench at |
|
COP 194/2014 |
CASE PENDING
|
Petitioner/ Appnt. Name |
M/s. SHRI BALANI IMPEX |
|
Respondent/Defnt. Name |
VIJAYA STEELS LIMITED |
|
Petnr./Appnt. Advocate |
VIVEK HOLLA, HOLLA AND HOLLA |
|
Respnt./Defnt. Advocate |
VIJAYA STEELS LTD-RESPT SD |
|
Date Filed |
11.08.2014 |
|
District |
Out of State |
|
Stage |
PENDING FOR ADMISSION ADMISSION |
|
Last Action Taken |
ADJOUREND Last date of Action:
06.11.2014 |
|
Latest Order : |
CALL AFTER 3 WEEKS |
|
Before Hon’ble Judge |
AS. BOPANNA |
UNSECURED
LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Other loans and advances |
110.061 |
108.261 |
|
|
|
|
|
Total |
110.061 |
108.261 |
FINANCIAL HIGHLIGHTS:
Reasons
for loss and negative profitability and industry profile:
The industrial
recession continues to hog the steel industry. There has not been any
significant improvement in the market and this has been a dampener to the
Company as your Company has not been able to make any substantial headway in
achieving the profitability. While the finished goods prices remained more or
less stagnant, the raw materials prices fluctuated widely. This has severely
affected the prospects of the Company. Further the accounts of the Company with
its bankers turned NPA (Non Performing Assets) and the bankers had frozen the
account and the Company consequently could not operate its credit limits.
Efforts to rectify the position has not borne any fruits as no decision could
be taken by the banks to solve the situation. Valuable time has only been lost
and your Company ended up on the losing side. However the Directors are
continuing its best efforts to salvage the situation and are confident to
successfully come out of the difficult situation soonest.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10419631 |
31/03/2012 |
131,696,000.00 |
THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED |
YESHWANTHPUR BRANCH,
GROUND FLOOR, MAYUR COMPLEX,, |
B56355688 |
|
2 |
10218822 |
20/04/2010 |
120,000,000.00 |
CANARA BANK |
PRIME CORPORATE
BRANCH, SHANKARA NARAYAN BLDG., N |
A83685552 |
|
3 |
10197253 |
07/01/2010 |
20,000,000.00 |
CANARA BANK |
PRIME CORPORATE
BRANCH, SHANKARNARAYANA BLDG., NO |
A77080984 |
|
4 |
10192011 |
23/11/2009 |
4,300,000.00 |
RELIANCE CAPITAL LTD |
"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai, Maharashtra - 400710, INDIA |
A75012690 |
|
5 |
10165601 |
19/06/2009 |
77,500,000.00 |
CANARA BANK |
PRIME CORPORATE BRANCH,
SHANKARNARAYANA BLDG., NO |
A65360315 |
|
6 |
10140272 |
09/01/2009 |
205,000,000.00 |
THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED |
YESHWANTHAPUR
BRANCH, MAYUR COMPLEX, NO.36,, I MA |
A55905830 |
|
7 |
10157835 |
26/09/2008 |
37,500,000.00 |
CANARA BANK |
PRIME CORPORATE
BRANCH, SHANKARNARAYANA BLDG., NO |
A51453595 |
|
8 |
10143648 |
05/08/2008 |
200,000,000.00 |
THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED |
YESHWANTHAPUR
BRANCH, MAYUR COMPLEX, NO. 36,, I M |
A55335525 |
|
9 |
10068365 |
21/04/2011 * |
851,000,000.00 |
CANARA BANK (LEADER) & SYNDICATE BANK |
PRIME CORPORATE
BRANCH, SHANKARNARAYANA BLDG., NO |
B12656872 |
|
10 |
10050329 |
30/03/2007 |
80,000,000.00 |
SYNDICATE BANK |
INDUSTRIAL FINANCE BRANCH, DICKENSON ROAD, BANGALORE, Karnataka - 560042, INDIA |
A15072044 |
* Date of charge modification
FIXED ASSETS
·
Land
·
Buildings
·
Factory building
·
Plant and equipment
·
Factory equipments
·
Furniture and fixtures
·
Vehicles
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.61.92 |
|
|
1 |
Rs.97.12 |
|
Euro |
1 |
Rs.76.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
17 |
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.