MIRA INFORM REPORT
|
Report No. : |
317247 |
|
Report Date : |
14.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
HI TECH RESISTORS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-L-1, Electronic Zone,
MIDC Industrial Area, Hingna, Nagpur – 440 027, Maharashtra |
|
Tel. No.: |
91-712-2531134 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
12.02.1986 |
|
|
|
|
Com. Reg. No.: |
11-038917 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.500 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32103MH1986PTC038917 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in manufacturing of wire wound
resistors. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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Comments : |
Subject is an
established company having moderate track. There seems a marginal
growth in the company’s turnover, but the company has suffered operational
loss during year under review. Further, the
rating remains constrained on account of moderate networth and below average
liquidity position of the company. However, trade
relation are reported to be fair. Business is active. Payment terms are
reported to be slow but correct. The company can
be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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-cooperative
(Tel. No.: 91-712-2531134)
LOCATIONS
|
Registered Office/ Factory : |
E-L-1, Electronic Zone,
MIDC Industrial Area, Hingna, Nagpur – 440 027, Maharashtra, India |
|
Tel. No. : |
91-712-2531134 |
|
Fax No. : |
91-712-2528334 |
|
E-Mail : |
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|
Website : |
|
|
|
|
|
Head Office : |
Buty Compound, Mount Road
Extension, Nagpur – 440 001,
Maharashtra, India |
|
Tel. No. : |
91-712-2531134, 2533269,
2553691 |
|
Fax No. : |
91-712-2528334, 2556351 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr.
Rooshad Russi Patel |
|
Designation : |
Director |
|
Address : |
Flat
No.2, 1st Floor, Asha Apartment, Byramji Town, Nagpur – 440 013,
Maharashtra, India |
|
Date of Birth/Age : |
16.02.1952 |
|
Date of Appointment : |
12.02.1986 |
|
DIN No. : |
00473945 |
|
|
|
|
Name : |
Mrs.
Yasmin Rooshad Patel |
|
Designation : |
Director |
|
Address : |
Flat
No.2, 1st Floor, Asha Apartment, Byramji Town, Nagpur – 440 013,
Maharashtra, India |
|
Date of Birth/Age : |
25.08.1951 |
|
Date of Appointment : |
01.09.2004 |
|
DIN No. : |
00473983 |
|
|
|
|
Name : |
Mr.
Areez Rooshad Patel |
|
Designation : |
Director |
|
Address : |
Flat
No.2, 1st Floor, Asha Apartment, Byramji Town, Nagpur – 440 013,
Maharashtra, India |
|
Date of Birth/Age : |
07.07.1981 |
|
Date of Appointment : |
25.05.2004 |
|
DIN No. : |
00474017 |
KEY EXECUTIVES
|
Name : |
CS.
Sushil Kawadkar |
|
Designation : |
Practicing
Company Secretary |
|
Address : |
63,
Income Tax Colony, Pratap Nagar, Nagpur – 440 022, Maharashtra, India |
|
Tel. No.: |
91-712-2228206 |
|
Mobile No.: |
91-9422106889 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
holding |
|
Yasmin Patel jointly with Rooshad Patel |
22500 |
15.00 |
|
Areez
Patel jointly with Rooshad
Patel and Yasmin Patel |
22500 |
15.00 |
|
Rooshad
Patel jointly with Yasmin
Patel and Aliya |
52500 |
35.00 |
|
Rooshad
Patel jointly with Yasmin
Patel and Areez Patel |
52500 |
35.00 |
|
Total |
150000 |
100.00 |
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of wire wound
resistors. |
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|
|
|
Products : |
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|
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|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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 |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
·
Thermo Pack Industries ·
Suresh Polymers Private Limited ·
Lalwani Electronics ·
Cinetech India Enterprises ·
Patel Metal Corporation ·
J.K. Packaging
·
Royal Polypack ·
Sai Paradise Machine Tools |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
·
Digital Circuits Private Limited ·
EFD Induction Limited ·
Wind World India Limited, Serv Unit II ·
Veeral Controls Private Limited |
||||||||||||||||||||||
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No. of Employees : |
Information declined by the Management. |
||||||||||||||||||||||
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||||||||||||||||||||||
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Bankers : |
·
ICICI Bank Limited ·
Punjab National Bank ·
Bank of Baroda, Mumbai, Maharashtra, India ·
State Bank of India (JNPT), Mumbai, Maharashtra,
India ·
State Bank of India (IACC), Mumbai, Maharashtra,
India ·
United Commercial Bank ·
IDBI Bank Limited ·
IndusInd Bank ·
HDFC Bank Limited |
||||||||||||||||||||||
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Facilities : |
Notes: (i) Cash credit account
with Central Bank, Kingsway branch secured by hypothecation of movable
assets, stocks, debtors and personal guarantee of directors, collateral
security of factory at MIDC of the company. (ii) Packing credit
facility is secured against BOE, and hypothecation of stocks received under
L/C. (iii) The loan is secured
by equitable mortgage of land, building, machinery and other fixed assets at
EL-1, EL-10, Electronic Zone Area, MIDC, Hingna Road, Nagpur and personal
guarantee of Directors. |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
C.N. Patel and Company Chartered Accountants |
|
Address : |
Gani Sons Charitable Trust Building, Residency Road, Sadar, Nagpur – 440 001, Maharashtra, India |
|
Tel. No. : |
91-712-2584800/ 2584082 |
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E-Mail : |
|
|
PAN
No.: |
AACFC6640G |
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|
|
Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
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|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
1.500 |
1.500 |
1.500 |
|
(b) Reserves & Surplus |
15.965 |
16.198 |
16.695 |
|
(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) |
17.465 |
17.698 |
18.195 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.133 |
0.192 |
0.115 |
|
(c) Other long term
liabilities |
0.055 |
0.055 |
0.055 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.188 |
0.247 |
0.170 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
34.676 |
28.274 |
24.909 |
|
(b) Trade
payables |
8.563 |
8.704 |
12.217 |
|
(c) Other
current liabilities |
7.525 |
6.899 |
4.146 |
|
(d) Short-term
provisions |
2.999 |
7.761 |
7.057 |
|
Total Current
Liabilities (4) |
53.763 |
51.638 |
48.329 |
|
|
|
|
|
|
TOTAL |
71.416 |
69.583 |
66.694 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
23.164 |
22.978 |
22.052 |
|
(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 |
0.021 |
0.021 |
0.021 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.560 |
0.556 |
0.546 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
23.745 |
23.555 |
22.619 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
21.605 |
22.564 |
22.274 |
|
(c) Trade
receivables |
14.938 |
14.166 |
14.017 |
|
(d) Cash and
cash equivalents |
3.293 |
3.014 |
2.863 |
|
(e)
Short-term loans and advances |
7.104 |
6.180 |
4.625 |
|
(f) Other
current assets |
0.731 |
0.104 |
0.296 |
|
Total
Current Assets |
47.671 |
46.028 |
44.075 |
|
|
|
|
|
|
TOTAL |
71.416 |
69.583 |
66.694 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
110.525 |
107.177 |
98.114 |
|
|
|
Other Income |
0.021 |
0.060 |
0.030 |
|
|
|
TOTAL |
110.546 |
107.237 |
98.144 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
110.810 |
102.196 |
93.443 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(0.264) |
5.041 |
4.701 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(0.031) |
2.051 |
1.445 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(0.233) |
2.990 |
3.256 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
3.489 |
4.486 |
5.216 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.000 |
3.000 |
3.000 |
|
|
|
Tax on Proposed Dividend |
0.000 |
0.487 |
0.486 |
|
|
|
Transfer to General Reserve |
0.000 |
0.500 |
0.500 |
|
|
BALANCE CARRIED
TO THE B/S |
3.256 |
3.489 |
4.486 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
51.288 |
38.982 |
40.021 |
|
|
TOTAL EARNINGS |
51.288 |
38.982 |
40.021 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
0.728 |
0.000 |
0.000 |
|
|
|
Raw Materials |
12.229 |
11.464 |
11.884 |
|
|
|
Spare Parts |
0.144 |
0.221 |
0.033 |
|
|
TOTAL IMPORTS |
13.101 |
11.685 |
11.917 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(1.55) |
19.93 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(0.21) |
2.79 |
3.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.37) |
7.25 |
7.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.02) |
0.28 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.99 |
1.60 |
1.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.89 |
0.89 |
0.91 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Million) |
(INR in Million) |
(INR in Million) |
|
Share Capital |
1.500 |
1.500 |
1.500 |
|
Reserves & Surplus |
16.695 |
16.198 |
15.965 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
18.195 |
17.698 |
17.465 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
24.909 |
28.274 |
34.676 |
|
Total borrowings |
24.909 |
28.274 |
34.676 |
|
Debt/Equity ratio |
1.369 |
1.598 |
1.985 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Million) |
(INR in Million) |
(INR in Million) |
|
Sales |
98.114 |
107.177 |
110.525 |
|
|
|
9.237 |
3.124 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Million) |
(INR in Million) |
(INR in Million) |
|
Sales |
98.114 |
107.177 |
110.525 |
|
Profit |
3.256 |
2.990 |
-0.233 |
|
|
3.32% |
2.79% |
-0.21% |
LOCAL AGENCY FURTHER INFORMATION
NOTE: Current
Maturities of Long Term Debts is Not Available.
|
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 |
No |
|
17] |
Major suppliers |
Yes |
|
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 |
----- |
|
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 |
CORPORATE INFORMATION
Subject is a Private Limited Company in India and incorporated under the
provisions of Companies Act 1956. Being a Private Limited its shares are not
listed in any Stock Exchange. The company is engaged in manufacturing of wire
wound resistors.
OPERATION
The total sales of the company has increased in this year. The total
sales were Rs.110.525 million during the year as against Rs.107.177 million
from previous year. The operations for the year resulted in net loss of
Rs.0.264 million as against net profit of Rs.5.041 million in the previous
year. Though the Company has earned an operating profit of Rs.3.748 million in
the current year and Rs.8.802 million from previous year. The directors are
very optimistic about enhancing the sales as well as profit in the coming year.
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
From Directors |
10.641 |
11.638 |
|
Total |
10.641 |
11.638 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10281253 |
19/12/2013 * |
33,000,000.00 |
CENTRAL BANK OF INDIA |
MAIN BRANCH STATION ROAD,
NAGPUR, MAHARASHTRA - 440001, INDIA |
B93657104 |
|
2 |
10105796 |
09/05/2008 |
1,400,000.00 |
CENTRAL BANK OF INDIA |
MAIN BRANCH, STATION
ROAD, NAGPUR, MAHARASHTRA - |
A39413778 |
|
3 |
10094511 |
09/05/2008 * |
14,100,000.00 |
CENTRAL BANK OF INDIA |
MAIN BRANCH, STATION
ROAD, NAGPUR, MAHARASHTRA - |
A39414040 |
|
4 |
10091420 |
30/01/2008 |
12,700,000.00 |
CENTRAL BANK OF INDIA |
MAIN BRANCH, STATION
ROAD,, NAGPUR, MAHARASHTRA - |
A31397870 |
|
5 |
90226389 |
21/05/2002 |
1,491,000.00 |
CENTRAL BANK OF INDIA |
MAIN BRANCH, NAGPUR,
MAHARASHTRA, INDIA |
- |
|
6 |
90225083 |
14/07/2000 * |
3,000,000.00 |
CENTRAL BANK OF INDIA |
MAIN BRANCH KINGSWAY,
NAGPUR, MAHARASHTRA - 440001, INDIA |
- |
|
7 |
90222806 |
22/09/1997 |
1,100,000.00 |
SMALL INDUSTRIAL
DEVELOPMENT BANK OF INDIA |
MALVIYA MARG, LUCKNOW,
UTTAR PRADESH - 226001, INDIA |
- |
|
8 |
90226152 |
22/09/1997 |
1,100,000.00 |
SMALL DEVELOPMENT BANK OF
INDIA |
10/10 MADAN MOHAN, LUCKNOW,
UTTAR PRADESH - 226001, INDIA |
- |
|
9 |
90226691 |
21/05/2002 * |
9,900,000.00 |
CENTRAL BANK OF INDIA |
MAIN BRANCH, NAGPUR,
MAHARASHTRA, INDIA |
- |
|
10 |
90222594 |
16/02/1996 |
293,706.00 |
CENTRAL BANK OF INDIA |
MAIN BRANCH KINGSWAY, NAGPUR,
MAHARASHTRA, INDIA |
- |
|
11 |
90224673 |
29/05/2000 * |
800,000.00 |
CENTRAL BANK OF INDIA |
MAIN BRANCH, NAGPUR,
MAHARASHTRA, INDIA |
- |
|
12 |
90224543 |
21/05/2002 * |
500,000.00 |
CENTRAL BANK OF INDIA |
MAIN BRANCH KINGSWAY, NAGPUR,
MAHARASHTRA, INDIA |
- |
|
13 |
90222395 |
09/11/1995 * |
1,800,000.00 |
CENTRAL BANK OF INDIA |
MAIN BRANCH KINGSWAY,
NAGPUR, MAHARASHTRA, INDIA |
- |
|
14 |
90225973 |
30/09/1994 |
1,800,000.00 |
CENTRAL BANK OF INDIA |
MAIN BRANCH KINGSWAY, NAGPUR,
MAHARASHTRA - 440001, INDIA |
- |
|
15 |
90224418 |
14/05/1993 |
354,000.00 |
CENTRAL BANK OF INDIA |
STATION ROAD, NAGPUR,
MAHARASHTRA, INDIA |
- |
|
16 |
90225840 |
02/01/1992 |
900,000.00 |
CENTRAL BANK OF INDIA |
STATION ROAD, NAGPUR, MAHARASHTRA,
INDIA |
- |
|
17 |
90225615 |
11/06/1988 |
7,280,000.00 |
CENTRAL BANK OF INDIA |
STATION ROAD, NAGPUR,
MAHARASHTRA, INDIA |
- |
* Date of charge modification
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Electric Installation
·
Office Equipments
·
Computers
·
Gen Set
·
Tools
·
Lab Equipment
·
Motor Car
·
Other Vehicles
·
Furniture
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
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.62.39 |
|
|
1 |
Rs.91.06 |
|
Euro |
1 |
Rs.66.16
|
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
-- PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.