MIRA
INFORM REPORT
|
Report Date : |
27.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
EMERSON NETWORK POWER ( |
|
|
|
|
Formerly Known As : |
LIEBERT SYSTEM SUPPORT EQUIPMENTS LIMITED |
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Registered Office : |
Plot No.C-20, Road No.19, Wagle Industrial Estate, Thane – 400604, |
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Country : |
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|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
10.03.1993 |
|
|
|
|
Com. Reg. No.: |
11-071079 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 100.560 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74999MH1993PTC071079 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUML01804F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACT4033H |
|
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|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufactures of Uninterruptible Power Supply
(UPS) Systems, Climate and Environmental Systems, DC power systems, Automatic
Transfer Switches (ATS), Racks, Monitoring Solutions and Enclosures for IT
Server protection |
|
|
|
|
No. of Employees
: |
600
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 30000000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
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Litigation : |
Exist |
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Comments : |
Subject is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by
adequate liquidity position and decent profitability levels of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal 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.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
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
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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 (GENERAL DETAILS)
|
Name : |
Mr. Chauhan |
|
Designation : |
Admin Department |
|
Contact No.: |
91-22-67208000 |
|
Date : |
21.11.2014 |
LOCATIONS
|
Registered/ Head Office/ Factory : |
Plot No.C-20, Road No.19, Wagle Industrial Estate, Thane – 400604, |
|
Tel. No.: |
91-22-67208000/ 001/ 25802388/ 25807000 |
|
Fax No.: |
91-22-25828358/ 25800829 |
|
Email : |
|
|
Website : |
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|
|
|
|
Zonal Offices : |
Mumbai B 414-424, Bhaveshwar Arcade, L.B.S. Marg,
Ghatkopar (West), Mumbai 400086. Phone : 91-22-67208800/ 09000, Fax : 91-2- 25002415
Phone : 91-11-28754206/ 28750774/ 28757706/
28753214/28755071/28756038 Fax : 91-11-28751601 Customer Care No: 91- 9810091400 Kolkata Phone : 91-33 - 40023100/22890490/93 Fax : 91-33 - 2289049 Emergency Service No : 40023190 Sales/ Service Fax No : 40023101 General Inquiry No : 40023100
Phone : 91-80-41135670/ 41135870/ 5635401/2/3/5/6 Fax : 91-80-41135570 |
|
|
|
|
Branch Office: |
Pune Office No. 7, IInd Floor, Pratibha Towers, Opp Jog Center, Pune-Mumbai Road, Wakdewadi Pune-411 003, India E-Mail : Pune@EmersonNetwork.co.in Phone : 91-20-66235050/ 66235000/ 25670709/ 25676975 Fax : 91-20-24004020 Nagpur E-Mail : nagpur@emersonnetwork.co.in rajendra.sabre@emersonnetwork.co.in Phone : 91-712- 5634997 39/2, Arunodaya Society, Alkapuri, E-Mail : Baroda@EmersonNetwork.co.in Phone : 91-265-2330383/ 6598400 Fax : 91-265-2343937 205,Sukhsagar Complex, Beside Fortune Landmark Hotel, Usmanpura,
E-Mail : tll_ahm@yahoo.co.in Phone : 91-79-27560230/ 27560240 Fax : 91-79 - 26441739 Dheeraj Kawal, 1st
flr, Near Vkl Stn, L.B.S. Marg, Vikhroli(W), 109, Ratnamani Complex, 7/1, New Palasia, E-Mail : Indore@EmersonNetwork.co.in Phone : 91-731-4023806 Fax : 91-731-2554824 Kashi Kunj , Road No. 2, Ground Floor,
Contractors Area ,Bistupur, E-Mail : Jamshedpur@EmersonNetwork.co.in Phone : 91-657-2227678, Fax : 91-657-2227678 No. 1, E-Mail : Chennai@EmersonNetwork.co.in Phone : 91-44-228151063/69 Fax : 91-44-228151442 Secunderabad E-Mail : Hyderabad@EmersonNetwork.co.in Devendra.Mansabdar@Emersonnetwork.co.in Phone : 91-40-27806771/2/5/6 Fax : 91-40-27806777 34/B-17, SVP Complex, 2nd Floor, No.7, Visakha Executiva Centre, 47-11-1/5, 1st Floor,
EswarArcade, Dwarakanagar, No.40/9338( New No. 59/4517), 4th Floor, E-Mail : Cochin@EmersonNetwork.co.in Phone : 91-484-2341986 86 Fax : 91-484- 2341985 Plot no. C-11, Sector-A, Zone-A,
Mancheswar industrial Estate, Bhubaneswar-751010 E-Mail : Bhubaneshwar@EmersonNetwork.co.in
Phone : 91-674-2586003 |
|
|
|
DIRECTORS
As On 31.03.2014
|
Name : |
Mr. Kersi M. Gherda |
|
Designation : |
Director |
|
Address : |
9A Sterling Apartment, |
|
Date of Birth/Age : |
16.08.1928 |
|
Date of Appointment : |
10.03.1993 |
|
DIN No : |
00237125 |
|
|
|
|
Name : |
Mr. Pradipta Tirthapati Sen |
|
Designation : |
Director |
|
Address : |
A1-61 Safdurjung Enclave, |
|
Date of Birth/Age : |
07.10.1958 |
|
Date of Appointment : |
11.06.2001 |
|
DIN No : |
00051758 |
|
|
|
|
Name : |
Mr. Dara Phirozeshaw Mehta |
|
Designation : |
Director |
|
Address : |
4" Floor, South Lands, 177, Colaba Road,, Mumbai, 400005,
Maharashtra, India |
|
Date of Birth/Age : |
13.07.1933 |
|
Date of Appointment : |
16.03.1995 |
|
DIN No : |
00041164 |
|
|
|
|
Name : |
Mr. Peter John Baptista |
|
Designation : |
Director |
|
Address : |
5-G Grenville House, 1 Magazine Gap Road, Hong Kong |
|
Date of Birth/Age : |
08.11.1943 |
|
Date of Appointment : |
26.05.2003 |
|
DIN No : |
05228555 |
|
|
|
|
Name : |
Mr. Sandeep Madan Prakash Gupta |
|
Designation : |
Additional Director |
|
Address : |
C-204 Vasant Sadhna, Mahaveer Nagar Kandivali (West) Mumbai – 400607,
Maharashtra, India |
|
Date of Birth/Age : |
17.09.1968 |
|
Date of Appointment : |
06.06.2012 |
|
DIN No : |
02355890 |
|
|
|
|
Name : |
Mr. Terry Blaine |
|
Designation : |
Additional Director |
|
Address : |
6B3D, Rose Garden Phase 3, Nanhai, Shekou,
Nanshan District. Shenzhen, Shenzhen, 518067, United States Of America |
|
Date of Birth/Age : |
28.06.1962 |
|
Date of Appointment : |
20.03.2012 |
|
DIN No : |
05310443 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Liebert Corporation, USA |
4500000 |
44.75 |
|
|
4500000 |
44.75 |
|
EMR (Mauritius) Mauritius |
1,055,992 |
10.50 |
|
Total |
10,055,992 |
100.00 |
%20PRIVATE%20LIMITED%20-%20%20295572%2027-Nov-2014_files/image002.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20%20295572%2027-Nov-2014_files/image004.gif)
AS ON 30.09.2014
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures of Uninterruptible Power Supply (UPS)
Systems, Climate and Environmental Systems, DC power systems, Automatic
Transfer Switches (ATS), Racks, Monitoring Solutions and Enclosures for IT
Server protection |
||||||||
|
|
|
||||||||
|
Products : |
·
Air and Power ·
Liebert ·
ASCO ·
Emerson Energy Systems
|
GENERAL INFORMATION
|
No. of Employees
: |
600
(Approximately) |
|
|
|
|
Bankers : |
·
ICICI Bank, India ·
Standard Chartered Bank, India |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B B S R
and
Company Chartered Accountant |
|
Address : |
Lodha Enclave, Appolo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai
- 400011, Maharashtra, India |
|
PAN No.: |
AAAFB9852F |
|
|
|
|
Ultimate Holding
Company : |
Emerson Electric Company, ST Louis, USA |
|
|
|
|
Fellow
Subsidiary Company : |
·
Emerson Electric Company (India) Private
Limited CIN No.: U29190MH1995PTC087858 ·
Emerson Network Power, China ·
Emerson Network Power Energy System, North
America ·
Emerson Network Power Australia Private
Limited ·
Emerson Innovation Centre ·
Emerson Network Power Surge Protection, Inc. ·
Astec International Limited , Hongkong ·
Atlas Asia Limited ·
Emerson A.S. Division Emerson Energy System ·
Asco Numatics (India) Private Limited CIN No.:
U33111TN1987PTC014841 ·
Emerson Process Management (India) Private
Limited CIN No.: U29196MH1981PTC024115 ·
Emerson Network Power (Pune) Private Limited CIN No.: U32107PN1996PTC097677 ·
Emerson Industrial Automation Electric Power
Generation Private Limited CIN No.: U31101KA2000PTC026953 ·
Moteurs Leroy-Somer (Angouleme),France ·
Emerson Network Power Sp. Z.O.O. ·
Emerson Network Power (Miyanyang) China ·
Leroy Somer India Private Limited CIN No.: U31200DL1991PTC043306 ·
Emerson Process Management Chennai Limited CIN No.: U93090TN1985PLC024245 ·
Avocent Asia Pacific Private Limited ·
Emerson Electric Co-Fusite Division, USA ·
Knurr Gmbh, Germany ·
Liebert Global Services, USA ·
Moteurs Leroy-Somer (Angouleme), France ·
Leroy Somer Electro Tecqnique (Fuzhou) Company
Limited., China ·
Emerson Electric (Thailand ) Limited ·
Asco (India) Limited. ·
Alber Corporation, USA ·
Avocent International Limited, Ireland ·
Control Techniques India (Chennai) Private
Limited ·
Chloride SPA, Italy ·
Daniel Measurement Solutions Private Limited |
|
|
|
|
|
|
|
Holding Company : |
Liebert Corporation Inc, Columbus, USA |
CAPITAL STRUCTURE
As On 10.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs. 10/- each |
Rs. 110.000 Millions |
|
3000000 |
Preference Shares |
Rs. 10/- each |
Rs. 30.000 Millions |
|
|
|
|
Rs. 140.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10055992 |
Equity Shares |
Rs. 10/- each |
Rs.100.560
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 |
100.560 |
100.560 |
100.560 |
|
(b) Reserves & Surplus |
10388.500 |
10117.900 |
10318.000 |
|
(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) |
10489.060 |
10218.460 |
10418.560 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
28.300 |
28.500 |
15.400 |
|
(c) Other long term liabilities |
151.600 |
119.100 |
108.900 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
179.900 |
147.600 |
124.300 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
69.000 |
|
(b) Trade payables |
2511.640 |
1939.640 |
1784.340 |
|
(c) Other current
liabilities |
1140.700 |
906.900 |
842.600 |
|
(d) Short-term provisions |
575.500 |
489.100 |
244.000 |
|
Total Current Liabilities (4) |
4227.840 |
3335.640 |
2939.940 |
|
|
|
|
|
|
TOTAL |
14896.800 |
13701.700 |
13482.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1020.900 |
304.900 |
325.900 |
|
(ii) Intangible Assets |
47.500 |
58.900 |
80.500 |
|
(iii) Capital
work-in-progress |
26.400 |
754.900 |
423.500 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5746.300 |
5746.300 |
7531.700 |
|
(c) Deferred tax assets (net) |
171.700 |
163.900 |
77.700 |
|
(d) Long-term Loan and Advances |
457.800 |
450.700 |
469.200 |
|
(e) Other Non-current assets |
0.100 |
13.200 |
16.700 |
|
Total Non-Current Assets |
7470.700 |
7492.800 |
8925.200 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1181.500 |
856.900 |
766.900 |
|
(c) Trade receivables |
3718.400 |
2751.400 |
2533.600 |
|
(d) Cash and cash
equivalents |
1468.300 |
2208.900 |
853.600 |
|
(e) Short-term loans and advances |
1039.600 |
336.800 |
395.700 |
|
(f) Other current assets |
18.300 |
54.900 |
7.800 |
|
Total Current Assets |
7426.100 |
6208.900 |
4557.600 |
|
|
|
|
|
|
TOTAL |
14896.800 |
13701.700 |
13482.800 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
11689.500 |
10302.700 |
9722.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
10588.400 |
9185.400 |
8372.300 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1101.100 |
1117.300 |
1349.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
392.200 |
345.500 |
428.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
708.900 |
771.800 |
921.300 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
70.49 |
76.81 |
91.62 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
6.06 |
7.49 |
9.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.30 |
15.88 |
24.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.11 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
N.A |
N.A |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.76 |
1.86 |
1.55 |
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 |
100.560 |
100.560 |
100.560 |
|
Reserves & Surplus |
10318.000 |
10117.900 |
10388.500 |
|
Net
worth |
10418.560 |
10218.460 |
10489.060 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
69.000 |
0.000 |
0.000 |
|
Total
borrowings |
69.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.007 |
0.000 |
0.000 |
%20PRIVATE%20LIMITED%20-%20%20295572%2027-Nov-2014_files/image006.gif)
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 |
9722.000 |
10302.700 |
11689.500 |
|
|
|
5.973 |
13.461 |
%20PRIVATE%20LIMITED%20-%20%20295572%2027-Nov-2014_files/image011.gif)
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 |
9722.000 |
10302.700 |
11689.500 |
|
Profit |
921.300 |
771.800 |
708.900 |
|
|
9.48% |
7.49% |
6.06% |
%20PRIVATE%20LIMITED%20-%20%20295572%2027-Nov-2014_files/image010.gif)
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 |
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 |
No |
|
24] |
Banking
facility details |
No |
|
25] |
Conduct of
the banking account |
----- |
|
26] |
Buyer visit
details |
---- |
|
27] |
Financials,
if provided |
Yes |
|
28] |
Incorporation
details, if applicable |
Yes |
|
29] |
Last accounts
filed at ROC |
Yes |
|
30] |
Major
Shareholders, if available |
Yes |
|
31] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
LITIGATION DETAILS
|
LITIGATION DETAILS |
||||||||
|
Bench:- |
||||||||
|
Presentation date : - 22/11/2013 |
||||||||
|
Lodging No:- |
CPL/175/2013 |
Failing Date:- |
22.11.2013 |
Reg.No.: |
CP/256/2014 |
Reg.Date: |
28.03.2014 |
|
|
|
||||||||
|
|
||||||||
|
Petitioner:- |
NITIN FIRE PROTECTION INDUSTRIES LTD- |
Respondent:- |
EMERSON NETWORK POWER ( |
|||||
|
Petn.Adv:- |
M/S CRAWFORD BAILEY CO () |
|||||||
|
District:- |
MUMBAI |
|||||||
|
|
||||||||
|
Bench:- |
SINGLE |
Category:- |
COMPANY PETITION U/SEC 433,434,439 COMPANIES ACT |
|||||
|
Status:- |
Pre-Admission |
Stage:- |
FOR ACCEPTANCE |
|||||
|
Next Date:- |
27.11.2014 |
|||||||
|
Coram:- |
HON’BLE SHRI JUSTICE S.J. KATHWALLA |
|||||||
|
Last Date:- |
15.11.2014 |
Stage:- |
FOR ADMISSION-FRESH{ORIGINAL SIDE MATTERS} |
|||||
|
Last Coram:- |
HON’BLE SHRI JUSTICE S.J. KATHWALLA |
|||||||
|
Act:- |
COMPANIES ACT AND RULES 1956 |
Under Section : 433,434 AND 439 |
||||||
REVIEW OF OPERATIONS
AND OUTLOOK:-
The “new products”
introduced and “Next Generation UPS
Solution, DCIM product portfolio” offered to the Customers during the
year have been well received by the users and this welcome addition has since
then been reflected in the Company’s increasing order booking and sales for
those products.
The Company
expects growth, despite challenging market conditions, in UPS, Air
Conditioning, DC and other Telecom equipment business. Company’s venture in to
overseas market and establishing registered Company at
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90147233 |
23/12/1998 |
120,000,000.00 |
CREDIT LYONNIAS |
MORARJEE MARG BALLARD ESTATE, MUMBAI, Maharashtra |
- |
|
2 |
90147085 |
23/12/1998 * |
62,000,000.00 |
CREDIT AGRICOLE INDOSUEZ |
RAMON HOUSE, 169 BACKBAY RECLAMATION, MUMBAI, Maharashtra - 400020,
INDIA |
- |
|
3 |
90140610 |
13/07/1996 |
200,000,000.00 |
UNION BANK OF INDIA |
239 VIDHAN BHAVAN, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
- |
|
4 |
90145863 |
15/01/1994 |
23,500,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 239 VIDHAN BHAVAN MARG |
- |
|
5 |
90147016 |
25/06/1999 * |
23,500,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 239 VIDHAN BHAVAN MARG |
- |
* Date of charge modification
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.61.86 |
|
|
1 |
Rs.97.12 |
|
Euro |
1 |
Rs.77.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
62 |
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.