1. Summary Information
|
|
|
Country |
|
|
Company Name |
STANDARD CONDUITS PRIVATE LIMITED |
Principal Name 1 |
Mr. Nikunj Mansukhlal Turakhia |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Mansukhlal Rughnath Turakhia |
|
|
|
Registration # |
11-089966 |
|
Street Address |
2/3, Ashok Chambers, Devji Ratansi Marg, Broach Street, Masjid Bunder
(East), Mumbai – 400009, Maharashtra, India |
||
|
Established Date |
27.06.1995 |
SIC Code |
-- |
|
Telephone# |
91-22-66314687 |
Business Style 1 |
Trader |
|
Fax # |
91-22-23702548 |
Business Style 2 |
Distributor |
|
Homepage |
Product Name 1 |
Iron |
|
|
# of employees |
40 (Approximately) |
Product Name 2 |
Steel |
|
Paid up capital |
Rs.88,491,000/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate – 4.37% Directors or relatives of Directors – 91.84% Other top fifty shareholders – 3.79% |
Banking |
Bank
of India |
|
Public Limited Corp. |
No |
Business Period |
19 Years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
Ba (42) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associated Company |
India
|
Standard Financial Advisors Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,205,432,000 |
Current Liabilities |
117,153,000 |
|
Inventories |
652,215,000 |
Long-term Liabilities |
1,548,085,000 |
|
Fixed Assets |
34,385,000 |
Other Liabilities |
37,846,000 |
|
Deferred Assets |
430,000 |
Total Liabilities |
1,703,084,000 |
|
Invest& other Assets |
135,899,000 |
Retained Earnings |
236,786,000 |
|
|
|
Net Worth |
325,277,000 |
|
Total Assets |
2,028,361,000 |
Total Liab. & Equity |
2,028,361,000 |
|
Total Assets (Previous Year) |
1,679,184,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
Not Available |
Net Profit |
12,407,000 |
|
Sales(Previous yr) (Approximately) |
3481,000,000 |
Net Profit(Prev.yr) |
24,726,000 |
MIRA
INFORM REPORT
|
Report Date : |
04.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
STANDARD CONDUITS PRIVATE LIMITED (w.e.f. 23.07.2002) |
|
|
|
|
Formerly Known
As : |
STANDARD CONDUITS LIMITED |
|
|
|
|
Registered
Office : |
2/3, Ashok Chambers, Devji Ratansi Marg, Broach Street, Masjid Bunder (East),
Mumbai – 400009, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
27.06.1995 |
|
|
|
|
Com. Reg. No.: |
11-089966 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.88.491 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200MH1995PTC089966 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS28902G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS8686C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader, Distributor and Importer of Iron and Steel. |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1301000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Profit of the company has declined during financial year 2013. However, the rating takes into consideration the long experience of
the promoters in the steel trading business, established relationship of the
company with repurted steel mills and comfortable capital structure of the
company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and condition. |
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
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the share goes up further in the
coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption
drive. Chanos believes tat many things such as apartment sales, luxury
products, etc. were largely bought with dirty money. And it is now beginning to
impact consumption. This may indeed be bad news for an economy that is
struggling to transition from an investment-driven export-oriented economy to a
domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term Fund based limits: “BBB-“ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
February 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term Letter of Credit limits: “A3” |
|
Rating Explanation |
Moderate degree of safety and high credit
risk. |
|
Date |
February 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Ramesh Shah |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-22-43430300 |
|
Date : |
13.08.2014 |
LOCATIONS
|
Registered Office : |
2/3, Ashok Chambers, Devji Ratansi Marg, Broach Street, Masjid Bunder (East),
Mumbai – 400009, Maharashtra, India |
|
Tel. No.: |
91-22-66314687/ 23771482/ 23770902/
43430300 |
|
Fax No.: |
91-22-23702548/ 23702648/ 43430333 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Nikunj Mansukhlal Turakhia |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
141, Shaan Apartments, Kashinath Dhuru Road, Dadar (West), Mumbai -
400028, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
18.08.1962 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Metallurgical Engineer (B. Tech) from IIT, Mumbai |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Experience : |
29 Years |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
27.06.1995 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No : |
AABPT1260A |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00082170 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Mansukhlal Rughnath Turakhia |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
141, Shaan Apartments, Kashinath Dhuru Road, Dadar (West), Mumbai -
400028, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
13.11.1933 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
27.06.1995 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00180243 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Heena Nikunj Turakhia |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
141, Shaan Apartments, Kashinath Dhuru Road, Dadar (West), Mumbai -
400028, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
12.03.1966 |
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|
Date of Appointment : |
30.09.2011 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No : |
AAAPT6542N |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00229623 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Ramesh Shah |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS
As on 30.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
4.37 |
|
Directors or relatives of Directors |
91.84 |
|
Other top fifty shareholders |
3.79 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Distributor and Importer of Iron and Steel. |
|
|
|
|
Imports : |
|
|
Products : |
Iron and Steel |
|
Countries : |
· Europe Asian Country Africa USA China Germany Canada |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
40 (Approximately) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
· Bank of India, Mumbai MID Corporate, 70/80, M.G. Road, Bank of India Building, Mezzanine Floor, Fort, Mumbai - 400001, Maharashtra, India ·
Bank of India, Mandvi
Branch, Kanmoor House, 281/287, Narsi Natha Street, Masjid, Mumbai - 400009,
Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
Note Short Term
Borrowings Secured Loan from Bank of India, Mandvi Branch, Mumbai
(Cash Credit A/c) is primarily secured by hypothecation charge over Stock and
Book Debts of the company and collaterally secured by way of Equitable
Mortgage/hypothecation over Factory/Land and Bldg. and Plant and Machinery at
E - 13, Taloja Industrial Area, Dist. Raigadh. In the name of Turakhia Steel
and Metal (India) Private Limited And Equitable Mortgage over Flat No. 141,
at Shan Apartment, Kashinath Dhruv Marg, Prabhadevi, Mumbai - 400028 owned by
Mahavir Corporation a partnership firm wherein 2 Directors of the company are
interested as partners, Equitable Mortgage of Land &
Building/hypothecation of Plant & Machinery in the name of Turakhia
Steels Private Limited, Plot No. E/5, MIDC Indl. Area, Taloja, Dist. Raigadh
and Equitable mortgage of Residential premises at Prabhadevi, Mumbai in the
name of Turakhia Infrastructure (India) Private Limited |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A.C. Kamdar and Company Chartered Accountants |
|
Address : |
6/7, Pearl Mansion, 91, Maharshi Karve Road, Marine Lines, Mumbai -
400020, Maharashtra, India |
|
PAN
No.: |
AAAFA2793E |
|
|
|
|
Associated
Companies / Concerns : |
· Standard Financial Advisors Private Limited CIN
No.: U74900MH2005PTC150440 ·
Standard Galva Steels Private Limited CIN
No.: U27106MH2008PTC179071 ·
Turakhia Steel And Metal (India ) Private
Limited CIN
No.: U27100MH2002PTC134754 ·
Turakhia Steels Private Limited (CN) CIN
No.: U63823MH1985PTC035018 ·
Turakhia Ferromet Private Limited CIN
No.: U27200MH1994PTC078585 ·
Mahavir Corporation ·
Standard Realtors Private Limited ·
Turakhia Infrastructure Private Limited |
|
|
·
|
|
Enterprises
influenced by Key Management Personnel and their relatives : |
· Standard Retail Private Limited CIN
No.: U51101MH2010PTC202778 ·
Stan-Pro Roofings Private Limited ·
Turakhia Enterprises |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8850000 |
Equity Shares |
Rs.10/- each |
Rs.88.500 Millions |
|
270000 |
Preference Shares |
Rs.10/- each |
Rs.2.700 Millions |
|
|
Total |
|
Rs.91.200
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8849138 |
Equity Shares |
Rs.10/- each |
Rs.88.491
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
88.491 |
88.491 |
10.747 |
|
(b) Reserves & Surplus |
236.786 |
224.379 |
199.653 |
|
(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) |
325.277 |
312.870 |
210.400 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
100.039 |
51.707 |
63.903 |
|
(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 |
37.647 |
48.555 |
40.333 |
|
Total Non-current Liabilities (3) |
137.686 |
100.262 |
104.236 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
17.114 |
44.333 |
12.379 |
|
(b) Trade payables |
1534.999 |
1202.684 |
891.207 |
|
(c) Other current
liabilities |
13.086 |
18.308 |
27.509 |
|
(d) Short-term provisions |
0.199 |
0.727 |
0.976 |
|
Total Current Liabilities (4) |
1565.398 |
1266.052 |
932.071 |
|
|
|
|
|
|
TOTAL |
2028.361 |
1679.184 |
1246.707 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
34.366 |
5.835 |
7.202 |
|
(ii) Intangible Assets |
0.019 |
0.025 |
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 |
0.019 |
0.019 |
0.000 |
|
(c) Deferred tax assets (net) |
0.430 |
0.421 |
0.337 |
|
(d) Long-term Loan and Advances |
53.453 |
27.400 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
88.287 |
33.700 |
7.539 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
652.215 |
573.803 |
416.704 |
|
(c) Trade receivables |
911.953 |
617.751 |
447.579 |
|
(d) Cash and cash
equivalents |
219.129 |
277.209 |
212.264 |
|
(e) Short-term loans and
advances |
20.897 |
58.247 |
160.201 |
|
(f) Other current assets |
135.880 |
118.474 |
2.420 |
|
Total Current Assets |
1940.074 |
1645.484 |
1239.168 |
|
|
|
|
|
|
TOTAL |
2028.361 |
1679.184 |
1246.707 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
NA |
3481.000 (Approx.) |
NA |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
12.407 |
24.726 |
3.304 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Indenting Commission |
NA |
1.611 |
NA |
|
|
|
Quality claim received |
NA |
7.883 |
NA |
|
|
TOTAL EARNINGS |
NA |
9.494 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.40 |
19.53 |
30.74 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.36 |
0.31 |
0.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24 |
1.30 |
1.33 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
10.747 |
88.491 |
88.491 |
|
Reserves & Surplus |
199.653 |
224.379 |
236.786 |
|
Net
worth |
210.400 |
312.870 |
325.277 |
|
|
|
|
|
|
long-term borrowings |
63.903 |
51.707 |
100.039 |
|
Short term borrowings |
12.379 |
44.333 |
17.114 |
|
Total
borrowings |
76.282 |
96.040 |
117.153 |
|
Debt/Equity
ratio |
0.363 |
0.307 |
0.360 |
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
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
|
HIGH COURT OF BOMBAY |
||||||
|
CASE DETAILS |
||||||
|
BENCH:- BOMBAY |
||||||
|
PRESENTATION DATE:- 27/03/2014 |
||||||
|
STAMP NO:- |
ITXAL/746/2014 |
FILING DATE:- |
27/03/2014 |
|||
|
Petitioner:- |
COMMISSIONER OF INCOME TAX – CENTRAL |
Respondent:- |
M/S. STANDARD CONDUITS PRIVATE LIMITED |
|||
|
Petn.Adv: |
TEJVEER SINGH MASTAN SINGH (I3678) |
Resp. Adv.: |
ATUL K. JAISANI (0) |
|||
|
DISTRICT: |
MUMBAI |
|||||
|
BENCH: |
SINGLE |
|
|
|||
|
STATUS:- |
PRE-ADMISSION |
CATEGORY:- |
TAX APPEALS |
|||
|
LAST DATE:- |
07/08/2014 |
STAGE:- |
FOR REJECTION [ORGINAL SIDE MATTERS] |
|||
|
LAST CORAM:- |
REGISTRAR(OS)/PROTHONOTARY AND SR. MASTER |
|||||
|
ACT:- |
INCOME TAX ACT, 1961 |
|||||
|
UNDER SECTION:- |
260A |
|||||
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Rupee term loans from others |
0.070 |
0.000 |
|
Loans and advances from others |
61.269 |
13.007 |
|
Other loans and advances |
38.700 |
38.700 |
|
Short Term Borrowings |
|
|
|
Other loans and advances |
0.000 |
13.015 |
|
Total |
100.039 |
64.722 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10501688 |
08/05/2014 |
3,250,000,000.00 |
Sbicap Trustee Company Limited |
202, Maker Tower, 'E', Cuffe Parade, Mumbai, Maharashtra - 400005, India |
|
|
2 |
10354050 |
20/04/2012 |
75,000,000.00 |
BANK OF INDIA |
Mumbai Mid Corporate, 70/80, M.G. Road, Bank Of India Building, Mezzanine Floor, Fort, Mumbai, Maharashtra - 400001, India |
|
|
3 |
10277760 |
21/03/2011 |
150,000,000.00 |
BANK OF INDIA |
Mumbai Mid
Corporate Branch, Boi Building, 70/80, |
|
|
4 |
90158082 |
20/04/2013 * |
2,050,000,000.00 |
BANK OF INDIA |
Mumbai Mid Corporate, 70/80, M.G. Road, Bank Of India Building, Mezzanine Floor, Fort, Mumbai, Maharashtra - 400001, India |
|
*Date of modification Charges
FIXED ASSETS:
· Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Motor
Vehicles
Office
Equipment
Computer
Equipments
Other
Equipments
Copyrights,
Patents and Other Operating Rights
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.60.61 |
|
|
1 |
Rs.100.49 |
|
Euro |
1 |
Rs.79.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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 this4 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.