MIRA INFORM REPORT
|
Report Date : |
20.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
SABEENA FABRICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1 Apurva Industrial Estate, Makwana Road, Marol, Mumbai –
400059, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
29.09.1993 |
|
|
|
|
Com. Reg. No.: |
11-074228 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.11.036 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17100MH1993PTC074228 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Grey Cloths. |
|
|
|
|
No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
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 : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. There seems dip in the profit of the company during 2014. However,
general financial position of the company appears to be decent. However, trade relations are to be 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.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications:
Apex court order may alter coal import dynamics. Traders go 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 |
CARE |
|
Rating |
SE 2B |
|
Rating Explanation |
Moderate financial strength and high
performance capability |
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 : |
Madam Pooja |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-28501778 |
|
Date : |
20.10.2014 |
LOCATIONS
|
Registered Office : |
1 Apurva Industrial Estate, Makwana Road, Marol, Mumbai –
400059, Maharashtra, India |
|
Tel. No.: |
91-22-28501778 / 28508696 |
|
Mobile No.: |
91-9821038512 (Mr. Abbas Ladak) |
|
Fax No.: |
91-22-28508012 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
A-1/214, 2-1 GIDC, Umergaon – 396171, Gujarat, India |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Sadik Badruddin Ladak |
|
Designation : |
Managing Director |
|
Address : |
403, Kiran Towers, 45, Nurgis Dutt Road, Bandra (West) Khar, Mumba -
400050, Maharashtra, India |
|
Date of Birth/Age : |
10.02.1943 |
|
Date of Appointment : |
29.09.1993 |
|
DIN No.: |
02093513 |
|
|
|
|
Name : |
Mr. Asgar Badruddin Ladak |
|
Designation : |
Director |
|
Address : |
62 Golden Corner, 29th Road, Pali Naka, Bandra (West),
Mumbai - 400050, Maharashtra, India |
|
Date of Birth/Age : |
12.11.1948 |
|
Date of Appointment : |
29.09.1993 |
|
DIN No.: |
02089982 |
KEY EXECUTIVES
|
Name : |
Madam Pooja |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Sadik B. Ladak Joint Name Shabnam S. Ladak |
|
141845 |
|
Sameer S. Ladak Joint Name Shabnam S. Ladak |
|
16650 |
|
Sameer S. Ladak Joint Name Shabnam S. Ladak |
|
33920 |
|
Shabnam S. Ladak Joint Name Sadik B. Ladak |
|
28166 |
|
Asgar B. Ladak Joint Name Ismat A. Ladak |
|
110100 |
|
Abbas A. Ladak Joint Name Asgar B. Ladak |
|
7200 |
|
Ismat A. Ladak Joint Name Asgar B. Ladak |
|
93200 |
|
Sabeena A. Ladak Joint Name Asgar B. Ladak |
|
4150 |
|
Imran A. Ladak Joint Name Ismat A. Ladak |
|
6000 |
|
Sunila A. Thaker |
|
184768 |
|
Kashmal A. Thaker Joint Name Aashish I. Thaker |
|
21370 |
|
Ranjita Kashmal Thaker Joint Name Kashmal A. Thaker |
|
14736 |
|
Sultan R. Ismail Joint Name Sadik B. Ladak |
|
220846 |
|
Aziz G. Hussian Joint Name Shenaz A. Hussian |
|
146500 |
|
Shenaz A. Hussian Joint Name Aziz G. Hussian |
|
74137 |
|
Asha R. Arya Joint Name Raymond Paul Rodricks |
|
2 |
|
Ashraf S. Dhala Joint Name Salim Dhala |
|
2 |
|
Azim Dhala Joint Name Salim Dhala |
|
1 |
|
Constellation Consultancy Services, India |
|
1 |
|
Schwin Investments Entreprenuer, India |
|
1 |
|
Vijay G. Mehra Joint Name Neelu Mehra |
|
1 |
|
Mukta N. Mehta |
|
1 |
|
Total |
|
1103597 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Grey Cloths. |
|
|
|
|
Exports : |
|
|
Products : |
Grey Cloths |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
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Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Aditya Birla Nuvo Limited |
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Customers : |
ITC Limited |
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No. of Employees : |
120 (Approximately) |
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Bankers : |
DCB Bank Limited, 601 and 602, Peninsula Business Park, 6th Floor, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra - 400013, India |
|||||||||||||||||||||
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Facilities : |
|
|
|
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Madhvi Vora and Associates Chartered Accountants |
|
Address : |
508, Surat Sadan, Surat Street, Masjid Bunder, Mumbai – 400009,
Maharashtra, India |
|
PAN No.: |
AAAPV7576L |
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|
|
|
Enterprise over which person covered under
category to exercise significant control: |
|
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1200000 |
Equity Shares |
Rs.10/- each |
Rs.12.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1103597 |
Equity Shares |
Rs.10/- each |
Rs.11.036 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 |
11.036 |
11.036 |
11.036 |
|
(b) Reserves & Surplus |
35.708 |
30.794 |
24.928 |
|
(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) |
46.744 |
41.830 |
35.964 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
18.769 |
21.602 |
14.520 |
|
(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 |
0.000 |
|
Total Non-current
Liabilities (3) |
18.769 |
21.602 |
14.520 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
32.332 |
22.999 |
26.536 |
|
(b) Trade
payables |
60.779 |
50.091 |
29.244 |
|
(c) Other
current liabilities |
25.276 |
3.945 |
3.292 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
1.064 |
|
Total Current
Liabilities (4) |
118.387 |
77.035 |
60.136 |
|
|
|
|
|
|
TOTAL |
183.900 |
140.467 |
110.620 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
17.434 |
7.239 |
8.292 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
2.210 |
9.324 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.058 |
0.058 |
0.058 |
|
(c) Deferred tax assets (net) |
2.014 |
1.957 |
2.029 |
|
(d) Long-term Loan and Advances |
1.183 |
2.176 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
22.899 |
20.754 |
10.379 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
74.547 |
51.694 |
48.731 |
|
(c) Trade
receivables |
79.134 |
61.271 |
42.697 |
|
(d) Cash
and cash equivalents |
2.191 |
0.593 |
0.585 |
|
(e)
Short-term loans and advances |
5.129 |
6.155 |
8.228 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
161.001 |
119.713 |
100.241 |
|
|
|
|
|
|
TOTAL |
183.900 |
140.467 |
110.620 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
263.456 |
218.283 |
|
|
|
|
Other Income |
3.605 |
3.995 |
|
|
|
|
TOTAL |
267.061 |
222.278 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
259.950 |
215.884 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
7.111 |
6.394 |
5.812 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.197 |
0.528 |
1.770 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX) |
4.914 |
5.866 |
4.042 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
3.659 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
4.45 |
NA |
NA
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
1.84 |
2.64 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.70
|
2.69 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.96 |
4.95 |
5.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.15 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.09 |
1.07 |
1.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36 |
1.55 |
1.67 |
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 |
11.036 |
11.036 |
11.036 |
|
Reserves & Surplus |
24.928 |
30.794 |
35.708 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
35.964 |
41.830 |
46.744 |
|
|
|
|
|
|
Long Term borrowings |
14.520 |
21.602 |
18.769 |
|
Short Term borrowings |
26.536 |
22.999 |
32.332 |
|
Total
borrowings |
41.056 |
44.601 |
51.101 |
|
Debt/Equity
ratio |
1.142 |
1.066 |
1.093 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2013 |
31.03.2014 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
|
218.283 |
263.456 |
|
|
|
|
20.695 |
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2013 |
31.03.2014 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
|
218.283 |
263.456 |
|
Profit |
|
5.866 |
4.914 |
|
|
|
2.69% |
1.87% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two 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 |
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 |
---------- |
|
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
LONG TERM BORROWINGS |
|
|
|
Loans and Advances from related parties |
11.675 |
12.795 |
|
Loans and Advances from others |
2.000 |
2.545 |
|
Total |
13.675 |
15.340 |
GENERAL
INFORMATION
Subject is a private limited company domiciled in India and incorporated under the provisions of Indian Companies Act, 1956. The company is registered as a “Manufacturing Industry.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10504259 |
05/06/2014 |
8,000,000.00 |
DCB Bank Limited |
601 & 602, Peninsula Business Park, 6th Floor, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra - 400013, India |
C07380058 |
|
2 |
10451535 |
24/09/2013 |
4,000,000.00 |
DCB Bank Limited |
601 & 602, Peninsula Business Park, 6th Floor, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra - 400013, INDIA |
B85936094 |
|
3 |
10399943 |
13/06/2014 * |
25,000,000.00 |
DCB Bank Limited |
601 & 602, Peninsula Business Park, 6th Floor, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra - 400013, INDIA |
C07447287 |
|
4 |
10369839 |
30/07/2012 |
6,500,000.00 |
DCB Bank Limited |
601 & 602, Peninsula Business Park, 6th Floor, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra - 400013, INDIA |
B45419165 |
|
5 |
10207399 |
08/12/2010 * |
500,000.00 |
Development Credit Bank Limited |
301, Delta Plaza, 414, Veer Savarkar Marg, Prabhadevi, Mumbai, Maharashtra - 400025, India |
B01571025 |
|
6 |
10011523 |
21/07/2006 * |
14,400,000.00 |
Development Credit Bank Limited |
154 S V Road East,Dongri,, Br. Credit Administration Depts, Jogeshwari (W), Mumbai, Maharashtra - 400102, India |
A02918498 |
|
7 |
90158564 |
14/02/2005 |
1,600,000.00 |
Development Credit Bank Limited |
Credit Administration Department, Bandra (W), Mumbai, Maharashtra - 400050, India |
- |
|
8 |
90158234 |
22/09/2003 * |
10,500,000.00 |
Development Credit Bank Limited |
Credit Administration Department, Bandra (W), Mumbai, Maharashtra - 400050, India |
- |
|
9 |
90158205 |
22/07/2003 |
2,400,000.00 |
Development Credit Bank Limited |
Credit Administration Department, Bandra (W), Mumbai, Maharashtra - 400050, India |
- |
|
10 |
90158178 |
22/09/2003 * |
2,000,000.00 |
Development Credit Bank Limited |
Credit Administration Department, Bandra (W), Mumbai, Maharashtra - 400050, India |
- |
|
11 |
90158085 |
11/01/2003 * |
1,000,000.00 |
Development Credit Bank Limited |
MMO Branch, Mumbai, Maharashtra - 400009, India |
- |
|
12 |
90159045 |
03/04/2001 |
1,000,000.00 |
Development Credit Bank Limited |
MMO Branch, Mumbai, Maharashtra - 400009, India |
- |
|
13 |
90155152 |
22/09/2003 * |
522,000.00 |
Development Credit Bank Limited |
Credit Administration Department, Bandra (W), Mumbai, Maharashtra - 400050, India |
- |
|
14 |
90157189 |
26/05/2003 * |
522,000.00 |
Development Credit Bank Limited |
Credit Administration Department, Bandra (W), Mumbai, Maharashtra - 400050, India |
- |
|
15 |
90155151 |
03/06/1999 |
1,000,000.00 |
Development Credit Bank Limited |
MMO Branch, Mumbai, Maharashtra - 400009, India |
- |
|
16 |
90157129 |
11/03/2013 * |
8,250,000.00 |
DCB Bank Limited |
601 & 602, Peninsula Business Park, 6th Floor, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra - 400013, INDIA |
B71499727 |
|
17 |
90156535 |
21/07/2006 * |
5,400,000.00 |
Development Credit Bank Limited |
154 S V Road
East,Dongri,, Br. Credit Administration Depts, Jogeshwari (W), Mumbai,
Maharashtra - |
A02912749 |
|
18 |
90156440 |
13/06/2014 * |
35,000,000.00 |
DCB Bank Limited |
601 & 602, Peninsula Business Park, 6th Floor, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra - 400013, INDIA |
C07450901 |
|
19 |
90156312 |
06/06/2006 * |
1,800,000.00 |
DCB Bank Limited |
601 & 602, Peninsula Business Park, 6th Floor, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra - 400013, INDIA |
- |
|
20 |
90156086 |
03/06/1999 * |
1,825,000.00 |
Development Credit Bank Limited |
MMO Branch, Mumbai, Maharashtra - 400009, India |
- |
|
21 |
90156026 |
03/06/1999 * |
182,500,000.00 |
Development Credit Bank Limited |
MMO Branch, Mumbai, Maharashtra - 400009, India |
- |
*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,
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 records 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
registred 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.61.48 |
|
|
1 |
Rs.98.24 |
|
Euro |
1 |
Rs.78.66 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
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 |
4 |
|
--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 |
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 |
|
48 |
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.