MIRA INFORM REPORT
|
Report No. : |
317228 |
|
Report Date : |
14.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
THE UNITED PROVINCES SUGAR COMPANY LIMITED |
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Registered
Office : |
Chartered Bank Building, Chartered Bank Building, 4, Netaji Subhash Road, Kolkata – 700001, West Bengal |
|
Tel No. : |
91-5565-262029 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
10.09.1924 |
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Com. Reg. No.: |
21-004929 |
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Capital
Investment / Paid-up Capital : |
Rs. 25.500 Million |
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CIN No.: [Company Identification
No.] |
L15421WB1924PLC004929 |
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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.] |
AAACT4947L |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. (Listed on Kolkata stock exchange) |
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Line of Business
: |
Manufacturer and Supplier of White crystal Sugar |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (39) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an old and well-established company having moderate track. The rating is constrained on account of drastic dip in the company’s
profitability during FY2014. Further, the management has reported dip in its
sales turnover too. The rating also takes note of the unfavorable gap between trade
receivables and payables during year under review. However, the company has good net worth position. Trade relation are reported to be fair. Business is active. Payment
terms are reported to be slow. 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.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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 PARTED BY
|
Name : |
Mr. B. L. Vijay |
|
Designation : |
General Manager |
|
Contact No.: |
91-9415312738 |
|
Date : |
13.04.2015 |
LOCATIONS
|
Registered Office : |
Chartered Bank Building, Chartered Bank Building, 4,
Netaji Subhash Road, Kolkata – 700001, West Bengal, India |
|
Tel. No.: |
91-5564-262029 |
|
Mobile No.: |
91-9415312738 (Mr. B. L. Vijay) |
|
Fax No.: |
91-5564-262106 |
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E-Mail : |
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|
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Factory : |
Post Office. Seorahi, Kushinagar, Sewarhi – 274406, Uttar Pradesh,
India |
DIRECTORS
As on 26.09.2014
|
Name : |
Mr. Sushil K Jalan |
|
Designation : |
Chairman Cum Managing Director |
|
Address : |
17-C, Woodlands,, 67, Dr.G.Deshmukh Marg,, Mumbai, 400026, Maharashtra, India |
|
Date of Birth/Age : |
07.09.1937 |
|
Date of Appointment : |
27.10.1995 |
|
DIN No.: |
00031281 |
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|
|
|
Name : |
Mr. Arvind K Kanoria |
|
Designation : |
Managing Director |
|
Address : |
Kanoria House (Garden Apartments), 2nd Floor, 4, Abdul Gaffar Khan Road, Worli Seaface (North), Mumbai, 400025, Maharashtra, India |
|
Date of Birth/Age : |
08.03.1961 |
|
Date of Appointment : |
12.11.1990 |
|
DIN No.: |
00200202 |
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|
|
|
Name : |
Mr. Vivek M Pittle |
|
Designation : |
Director |
|
Address : |
Suket, 29-B Dongersi Road, Malabar Hill, Mumbai, 400006, Maharashtra, India |
|
Date of Birth/Age : |
23.05.1959 |
|
Date of Appointment : |
22.06.1998 |
|
DIN No.: |
00066885 |
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|
|
|
Name : |
Mr. Anurag L Kanoria |
|
Designation : |
Director |
|
Address : |
Kanoria House (Garden Apartments), 2nd Floor,, 4, Abdul Gaffar Khan Road, Worli Seaface (North),, Mumbai, 400025, Maharashtra, India |
|
Date of Birth/Age : |
19.09.1968 |
|
Date of Appointment : |
19.01.1995 |
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DIN No.: |
00200630 |
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|
|
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Name : |
Mr. Girdhari Lal Sultania |
|
Designation : |
Director |
|
Address : |
2 Rowland Road, Kolkata, 700020, West Bengal, India |
|
Date of Birth/Age : |
16.01.1945 |
|
Date of Appointment : |
19.01.1995 |
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DIN No.: |
00060931 |
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|
|
|
Name : |
Mr. Babu Lal Vijay |
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Designation : |
Whole Time Director |
|
Address : |
The U.P. Sugar Co.Ltd.,Seorahi, P.O. - Seorahi,Dist- Kushinagar, Seorahi, 274406, Uttar Pradesh, India |
|
Date of Birth/Age : |
03.05.1949 |
|
Date of Appointment : |
05.05.2014 |
|
DIN No.: |
06967800 |
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MAJOR SHAREHOLDERS
Note:
Shareholding details file attached
As on 26.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Public Financial
Companies |
0.08 |
|
Nationalized or
other banks |
0.23 |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
0.01 |
|
Bodies corporate |
0.20 |
|
Directors or relatives of Directors |
94.88 |
|
Other top fifty shareholders |
3.28 |
|
Others |
1.32 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of White crystal Sugar |
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Products : |
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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 : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million
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Auditors : |
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|
Name : |
Batliboi and Purohit Chartered Accountants |
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Address : |
National Insurance Building, 204, D. N.Road, Mumbai – 400001, Maharashtra, India |
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PAN No.: |
AAAFB0915F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their relatives: |
CIN No. : U 51900MH1972PTC015770
CIN No. : U99999MH1973PTC016779 |
CAPITAL STRUCTURE
As on 26.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,550,000 |
Equity Shares |
Rs.10/- each |
Rs. 25.500
Million |
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|
|
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 |
25.500 |
25.500 |
25.500 |
|
(b) Reserves & Surplus |
976.177 |
1007.024 |
1320.241 |
|
(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) |
1001.677 |
1032.524 |
1345.741 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
282.934 |
3.384 |
134.009 |
|
(b) Deferred tax liabilities
(Net) |
2.475 |
0.779 |
(51.650) |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
105.000 |
|
(d) long-term provisions |
36.391 |
31.188 |
38.121 |
|
Total
Non-current Liabilities (3) |
321.800 |
35.351 |
225.480 |
|
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|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
983.685 |
749.803 |
938.894 |
|
(b) Trade payables |
896.105 |
535.515 |
524.019 |
|
(c) Other current liabilities |
138.293 |
145.805 |
338.209 |
|
(d) Short-term provisions |
7.113 |
15.461 |
3.846 |
|
Total
Current Liabilities (4) |
2025.196 |
1446.584 |
1804.968 |
|
|
|
|
|
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TOTAL |
3348.673 |
2514.459 |
3376.189 |
|
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|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.000 |
0.000 |
0.000 |
|
(ii) Intangible Assets |
1151.825 |
1228.766 |
1728.172 |
|
(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 |
35.178 |
35.178 |
35.178 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.853 |
0.872 |
0.874 |
|
(e) Other Non-current assets |
15.456 |
12.938 |
36.325 |
|
Total
Non-Current Assets |
1203.309 |
1277.754 |
1800.549 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1551.759 |
1223.214 |
1559.928 |
|
(c) Trade receivables |
1.543 |
4.764 |
0.565 |
|
(d) Cash and cash equivalents |
566.011 |
3.716 |
2.837 |
|
(e) Short-term loans and
advances |
25.796 |
3.486 |
7.225 |
|
(f) Other current assets |
0.252 |
1.525 |
5.085 |
|
Total
Current Assets |
2145.360 |
1236.705 |
1575.640 |
|
|
|
|
|
|
TOTAL |
3348.673 |
2514.459 |
3376.189 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1721.210 |
2217.726 |
1309.909 |
|
|
Other Income |
53.070 |
442.425 |
58.770 |
|
|
|
(Due
to Market Fluctuation) |
||
|
|
TOTAL
(A) |
1774.280 |
2660.151 |
1368.679 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1706.933 |
1755.278 |
1503.176 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(320.222) |
324.018 |
(565.375) |
|
|
Employees benefits expense |
111.473 |
115.410 |
101.704 |
|
|
Other expenses |
126.656 |
121.591 |
120.572 |
|
|
TOTAL
(B) |
1624.840 |
2316.297 |
1160.077 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
149.440 |
343.854 |
208.602 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
63.893 |
72.145 |
101.624 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
85.547 |
271.709 |
106.978 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
83.592 |
83.985 |
106.011 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1.955 |
187.724 |
0.967 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
1.695 |
49.120 |
0.424 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
0.260 |
138.604 |
0.543 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
158.899 |
20.295 |
19.752 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
159.159 |
158.899 |
20.295 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.10 |
54.35 |
0.21 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
3000.000 Million |
|
|
|
|
|
The above information has been parted by Mr. B.L. Vijay
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.02 |
6.25 |
0.04 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
8.68 |
15.50 |
15.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.06 |
7.57 |
0.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.18 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.26 |
0.73 |
0.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
0.85 |
0.87 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
25.500 |
25.500 |
25.500 |
|
Reserves & Surplus |
1320.241 |
1007.024 |
976.177 |
|
Net
worth |
1345.741 |
1032.524 |
1001.677 |
|
|
|
|
|
|
long-term borrowings |
134.009 |
3.384 |
282.934 |
|
Short term borrowings |
938.894 |
749.803 |
983.685 |
|
Total
borrowings |
1072.903 |
753.187 |
1266.619 |
|
Debt/Equity
ratio |
0.797 |
0.729 |
1.264 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1309.909 |
2217.726 |
1721.210 |
|
|
|
69.304 |
(22.389) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1309.909 |
2217.726 |
1721.210 |
|
Profit |
0.543 |
138.604 |
0.260 |
|
|
0.04% |
6.25% |
0.02% |
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
four years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
Yes |
|
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) |
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 |
OPERATIONS AND FINANCIAL
RESULTS
The mill crushed a total of 595.400 Million Quintals (Q) of sugarcane and produced a total of 0.564 Million Q of white crystal sugar at a recovery of 9.50% against a crush of 5.987 Million Q of sugarcane and a production of 0.550 Million Q of white crystal sugar at a recovery of 9.26% during the previous financial year 2012-2013.
The crushing season of 2013-2014 at the mill commenced on 7th December, 2013 and ended on 30th April, 2014. During the above season of 145 days, the mill crushed a total of 6.651 Million Q of sugarcane which produced 0.628 Million Q of white crystal sugar at a sugar recovery of 9.46% against a crush of 6.415 Million Q of sugarcane and a production of 0.593 Million Q of white crystal sugar at a recovery of 9.25% over 130 crop days in the previous season 2012-2013.
The State Government of Uttar Pradesh, where the mill is located, maintained the sugarcane price to be paid to as per the last season. Sugar prices have, however, fallen steeply and remained depressed through out the financial year. This has resulted in huge losses for the entire sugar industry in Uttar Pradesh and consequently affected the margins of their Company too.
SUGARCANE AND SUGAR POLICY
The essential features of the sugarcane and sugar policy for 2013-2014 season are as under:-
(a) The Central Government announced a Fair and Remunerative Price (FRP) of ` 210.00/Q for sugarcane linked to a basic recovery of 9.50% (subject to a premium of Rs. 2.10/Q for every 0.10% increase in recovery above that level) for season 2013-2014 as compared to Rs. 170.00/Q for the previous season
(b) The Uttar Pradesh Government maintained the State Advised Price (SAP) of sugarcane at Rs. 280.00/Q for normal variety of sugarcane for season 2013-2014 as for the previous season. A remission of Rs. 2.00/Q on sugarcane purchase tax and reimbursement of ` 6.30/Q on sugarcane society commission as well as the withdrawal of entry tax on sugar has been announced by the State Government for the aforesaid season
DELISTING OF SHARES
The Board of Directors in its meeting held on 30th January, 2014 considered and recommended a proposal received from the promoter/promoter group (Acquirer) to acquire the entire fully paid-up equity shares of the Company held by the public shareholders in accordance and compliance with the Securities and Exchange Board of India (Delist ing of Equity Shares) Regulations, 2009 (Delist ing Proposal) and for consequential delisting of the said equity shares from the Calcutta Stock Exchange Limited (CSE), the only Stock Exchange where such equity shares are presently listed. The Delisting Proposal has been made under Chapter VII of the Regulations applicable for small companies. The objective of the promoter/promoter group is to provide an exit opportunity to the public shareholders, at a price determined in consultation with a merchant banker, as the CSE does not have a trading window and there has been no trading in the equity shares of the Company at the CSE for the last several years. The promoter/promoter group is of the view that continued listing with the CSE did not provide any significant tangible advantage to the members of the Company as the public shareholders did not have any exit opportunity to sell their shareholding and consequently are stuck with their investments in the Company. The requisite special resolution The United Provinces Sugar Company Limited Standalone Balance Sheet for period 01/04/2013 to 31/03/2014 seeking shareholders approval for the Delisting Proposal was duly passed with the requisite majority on 11th March, 2014. Pursuant to the regulation 8(1) (c) of the Securities and Exchange Board of India (Delisting of Securities) Regulation, 2009 the Company has submitted its request for an in-principle approval of its delisting proposal by the CSE.
PROSPECTS AND OUTLOOK
The viability of the domestic sugar industry continues to be impaired due to the non linkage of raw material pricing i.e. sugarcane to that of the finished product i.e. sugar. This fundamental problem needs to be addressed on an footing so as to ensure that the interest of all stakeholders, be it the farmer or the consumer or the industry itself, is looked after on an equitable footing and on a sustained basis. Till such time adequate steps are taken in the above direction, it is difficult to predict the future prospects of the industry, as well as those of the Company itself, with any reasonable certainty.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10555582 |
26/03/2015 * |
150,000,000.00 |
Punjab National Bank |
Tamkuhi Road Branch,, At P.O. Seorahi,, Kushinagar, Uttar Pradesh - 274406, INDIA |
C49382047 |
|
2 |
10524758 |
28/10/2014 * |
100,000,000.00 |
Punjab National Bank |
Tamkuhi Road Branch,, At P.O. Seorahi,, Kushinagar, Uttar Pradesh - 274406, INDIA |
C32065732 |
|
3 |
10479380 |
06/03/2014 * |
156,000,000.00 |
Punjab National Bank |
Tamkuhi Road Branch,, At P.O. Seorahi,, Kushinagar, Uttar Pradesh - 274406, INDIA |
B98779986 |
|
4 |
10434170 |
01/07/2013 * |
180,000,000.00 |
Punjab National Bank |
Tamkuhi Road Branch,, At P.O. Seorahi,, Kushinagar, Uttar Pradesh - 274406, INDIA |
B79012696 |
|
5 |
80029793 |
16/02/2006 * |
50,000,000.00 |
THE PRADESIYA
INDUSTIRAL & INVESTMENT CORPORATION |
PICUP
BHAWAN, GOMTI NAGAR, STATE GOVT OF UP, LUCK |
- |
|
6 |
90256329 |
30/03/2004 |
439,600.00 |
CITIBANK N.A. |
P.O. BOX NO - 2235;, ANNA SALAI, CHENNAI, West Bengal - 600002, INDIA |
- |
|
7 |
90256230 |
25/11/2003 |
603,850.00 |
CITIBANK NA |
P.O. BOX NO - 2235;, ANNA SALAI, CHENNAI, Rajasthan - 600002, INDIA |
- |
|
8 |
90255553 |
03/05/2005 * |
560,500,000.00 |
PUNJAB NATIONAL BANK |
TAMKUNI ROAD
BRANCH, AT & PO SEORAHI, KUSHINAGAR, |
- |
|
9 |
90253088 |
14/07/2014 * |
1,185,500,000.00 |
Punjab National Bank |
Tamkuhi Road Branch,, At P.O. Seorahi,, Kushinagar, Uttar Pradesh - 274406, INDIA |
C14504542 |
|
10 |
90254800 |
09/02/2010 * |
25,000,000.00 |
Punjab National Bank |
Tamkuhi Road Branch,, At P. O. Seorahi,, Kushinagar, Uttar Pradesh - 274406, INDIA |
A80630510 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records 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.62.38 |
|
|
1 |
Rs.91.06 |
|
Euro |
1 |
Rs.66.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
39 |
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.