MIRA INFORM REPORT
|
Report No. : |
318869 |
|
Report Date : |
28.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
AZAD ISPAT INDIA PRIVATE LIMITED |
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Registered
Office : |
No. 1, 2nd Cross, Eshwari Complex, Bamboo Bazaar Road, Near-Eshwari Complex, Kalasipalyam New Extension, Bengaluru-560002, Karnataka |
|
Tel. No.: |
91-80-49153226 |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
28.02.2007 |
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Com. Reg. No.: |
08-041943 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
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CIN No.: [Company Identification
No.] |
U27100KA2007PTC041943 |
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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.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Azad TMT Rebars and M S Ingots. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Management of the company has failed to file its financial after 2011
with the government department. As per Registrar of Companies the date of date of balance sheet i.e.
financials filed is shown as 31st march, 2011 but the documents related
to the financials for the year 2011 are not available from any sources. As per available financial of 2010, External borrowing of the company
seems to be huge. However, Business is active. Payment terms are reported to be unknown. The company can be considered for business dealing on safe and secured
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 – 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
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 DENIED BY
|
Name : |
Mr. Tanveer Azhar Azad |
|
Designation : |
Director |
|
Contact No.: |
91-9845401519 |
|
Date : |
27.04.2015 |
LOCATIONS
|
Registered Office : |
No. 1, 2nd Cross, Eshwari Complex, Bamboo Bazaar Road, Near-Eshwari Complex, Kalasipalyam New Extension, Bengaluru-560002, Karnataka, India |
|
Tel. No.: |
91-80-49153226 |
|
Mobile No.: |
91-9845401519 (Mr. Tanveer Azhar Azad) |
|
Fax No.: |
91-80-41149715 |
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E-Mail : |
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Factory : |
145/1 and 146/1 Gollapuam Main Road, opposite Apiic growth center,
Gollapuram Village, Hindupur Mandal, Ananthpur – 515211, Andhra Pradesh,
India |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Sumeer Ather Azad |
|
Designation : |
Director |
|
Address : |
No.16, 11th Main Road, 5th Block Jayanagar, Bangalore-560041, Karnataka, India |
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Date of Birth/Age : |
17.01.1982 |
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Date of Appointment : |
28.02.2007 |
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DIN No.: |
01657860 |
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|
|
|
Name : |
Mr. Ameer Azad |
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Designation : |
Director |
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Address : |
No.16, 11th Main Road, 5th Block Jayanagar, Bangalore-560041, Karnataka, India |
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Date of Birth/Age : |
12.10.1959 |
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Date of Appointment : |
28.02.2007 |
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DIN No.: |
02202091 |
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|
|
|
Name : |
Mr. Tanveer Azhar Azad |
|
Designation : |
Director |
|
Address : |
No.16, 11th Main Road, 5th Block Jayanagar, Bangalore-560041, Karnataka, India |
|
Date of Birth/Age : |
22.03.1985 |
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Date of Appointment : |
28.02.2007 |
|
DIN No.: |
02202116 |
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|
|
|
Name : |
Mr. Musaveer Azad |
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Designation : |
Director |
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Address : |
No.16, 11th Main Road, 5th Block Jayanagar, Bangalore-560041, Karnataka, India |
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Date of Birth/Age : |
05.08.1987 |
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Date of Appointment : |
28.02.2007 |
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DIN No.: |
02231044 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Ameer Azad |
3950000 |
50.00 |
|
Sumeer Ather Azad |
2370000 |
30.00 |
|
Tanveer Azhar Azad |
790000 |
10.00 |
|
Musaveer Azad |
790000 |
10.00 |
|
Total |
7900000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Azad TMT Rebars and M S Ingots. |
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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 : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
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|
Name : |
Nagesh and Associates Chartered Accountants |
|
Address : |
No.112, 2nd floor, R V Road, V V Puram, Banglore-560004,
India |
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Tel. No.: |
91-80-22429200/26618200 |
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E-Mail : |
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PAN No.: |
AADFN4584H |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Million |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7900000 |
Equity Shares |
Rs.10/- each |
Rs.79.000
million |
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As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
16.877 |
16.877 |
2.900 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(3.520) |
(5.318) |
0.000 |
|
|
NETWORTH |
13.457 |
11.659 |
3.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
74.836 |
72.543 |
0.000 |
|
|
2] Unsecured Loans |
11.781 |
7.435 |
0.000 |
|
|
TOTAL BORROWING |
86.617 |
79.978 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
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|
|
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TOTAL |
100.074 |
91.637 |
3.000 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
56.529 |
61.193 |
4.093 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
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DEFERREX TAX ASSETS |
1.403 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
54.688 |
21.602 |
0.000 |
|
|
Sundry Debtors |
1.183 |
3.017 |
0.000 |
|
|
Cash & Bank Balances |
0.701 |
16.970 |
0.106 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
22.697 |
10.323 |
1.068 |
|
Total
Current Assets |
79.269 |
51.912 |
1.174 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Other Current Liabilities |
37.253 |
21.732 |
2.515 |
|
|
Provisions |
0.072 |
0.000 |
0.000 |
|
Total
Current Liabilities |
37.325 |
21.732 |
2.515 |
|
|
Net Current Assets |
41.944 |
30.180 |
(1.341) |
|
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|
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|
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|
MISCELLANEOUS EXPENSES |
0.198 |
0.264 |
0.248 |
|
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|
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TOTAL |
100.074 |
91.637 |
3.000 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2008 |
|
|
|
SALES |
|
|
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|
|
|
Income |
|
|
|
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|
Other Income |
|
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|
|
|
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TOTAL |
|
227.088 |
33.466 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
226.622 |
38.774 |
|
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|
PROFIT BEFORE
TAX |
|
0.466 |
(5.318) |
|
|
|
|
|
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|
|
|
Less |
TAX |
|
(1.331) |
0.000 |
|
|
|
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|
|
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|
PROFIT AFTER TAX
|
|
1.797 |
(5.318) |
|
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|
|
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|
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|
|
Earnings Per
Share (Rs.) |
|
179.80 |
(531.78) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin (PAT / Total Income) |
(%) |
0.79 |
(15.90) |
0.00 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.34 |
(4.70) |
0.00 |
|
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|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
(0.44) |
0.00 |
|
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|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
6.44 |
6.86 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.63 |
5.20 |
2.09 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2008 |
31.03.2009 |
31.03.2010 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
2.900 |
16.877 |
16.877 |
|
Accumulated Losses |
0.000 |
(5.318) |
(3.520) |
|
Net
worth |
3.000 |
11.659 |
13.457 |
|
|
|
|
|
|
Secured Loans |
0.000 |
72.543 |
74.836 |
|
Unsecured Loans |
0.000 |
7.435 |
11.781 |
|
Total
borrowings |
0.000 |
79.978 |
86.617 |
|
Debt/Equity
ratio |
0.000 |
6.860 |
6.437 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2009 |
31.03.2010 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
33.456 |
227.088 |
|
|
578.766 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2009 |
31.03.2010 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
33.456 |
227.088 |
|
Profit |
(5.318) |
1.797 |
|
|
(15.90%) |
0.79% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
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 |
No |
|
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 |
(Rs.
In Million)
|
UNSECURED LOAN |
As
on 31.03.2010 |
As
on 31.03.2009 |
|
From other (Includes loans from directors Rs.0.446 Million) |
11.781 |
7.435 |
|
Total |
11.781 |
7.435 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10491331 |
31/03/2014 |
35,000,000.00 |
Andhra Pradesh State Financial Corporation |
Andhra Pradesh State Financial Corporation, ABIDS, HYDERABAD, Andhra
Pradesh - 500001, INDIA |
C02899193 |
|
2 |
10247357 |
18/09/2010 |
21,900,000.00 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
D. NO. 5-9-194 , CHRAG ALI LANE, ABIDS, HYDERABAD |
A96045174 |
|
3 |
10247351 |
18/09/2010 |
62,000,000.00 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
D. NO. 5-9-194 , CHRAG ALI LANE, ABIDS, HYDERABAD, Andhra Pradesh -
500001, INDIA |
A96044995 |
|
4 |
10123095 |
26/12/2014 * |
150,000,000.00 |
UNION BANK OF INDIA |
GANDHINAGAR BRANCH,SEVAKSHETRA, NO.14, 1ST MAIN |
C42804948 |
* Date of charge modification
FIXED ASSETS
- Computers
- Electrical
equipments
- Office
equipments
- Plant and
machinery
- Building
- Land
- Vehicle
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.63.61 |
|
|
1 |
Rs.96.55 |
|
Euro |
1 |
Rs.69.18 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
11 |
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.