MIRA INFORM REPORT
|
Report No. : |
319316 |
|
Report Date : |
28.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
TARINI STEEL COMPANY LIMITED |
|
|
|
|
Formerly Known
As : |
TARINI STEEL COMPANY PRIVATE LIMITED |
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|
|
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Registered
Office : |
101, General Block, MIDC, Bhosari, Pune - 411026, Maharashtra |
|
Tel. No.: |
91-20-32514245/30619415/21 |
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|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
06.12.1988 |
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Com. Reg. No.: |
11-049912 |
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Capital
Investment / Paid-up Capital : |
Rs. 9.085 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U27107PN1988PLC049912 |
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|
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IEC No.: |
Not Divulged |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNET00723C |
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|
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PAN No.: [Permanent Account No.] |
AAACT6346H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Importers of
bright steel bars. |
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|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory
track record. As per registrar of companies the date Balance Sheet (i.e. financial filed) is shown as 31.03.2014 but the documents
related to financials are not available for any source. As per avaiolable financial record of 2013, general financial
positions of the company seems to be
sound and healthy. Profitability of the company is
fair. Trade relations are fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
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 : |
Ms. Kalpana Naik |
|
Designation : |
Account Manager |
|
Contact No.: |
91-20-32514245 |
|
Date : |
25.04.2015 |
LOCATIONS
|
Registered Office : |
101, General Block, MIDC, Bhosari, Pune - 411026, Maharashtra, India |
|
Tel. No.: |
91-20-32514245/30619415/21 |
|
Mobile No.: |
91-9545450403 (Mr. Abhishek) |
|
Fax No.: |
91-20-46764160 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Gat No. 399, Charoli Khurd, Alandi – Wadgaon Road, Alandi, Pune –
412105, Maharashtra, India |
|
Tel No.: |
91-2135-232041/ 232088 |
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Fax No.: |
91-2135-232088 |
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|
|
|
|
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Factory 3 : |
D - 4, MIDC Kurkumbh, Taluka Daund, District Pune – 413802,
Maharashtra, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Sanjay Ramkaran Agarwal |
|
Designation : |
Director |
|
Address : |
Plot No.593, Sector-25, Pradhikaran, Nigdi, Pune - 411044, Maharashtra, India |
|
Date of Birth/Age : |
18.04.1964 |
|
Qualification : |
MSC LLB |
|
Date of Appointment : |
06.12.1988 |
|
PAN No.: |
AARPA4104E |
|
Voter ID No.: |
MT/0043/0245/0120437 |
|
DIN No.: |
01517592 |
|
|
|
|
Name : |
Mr. Santosh Ramkaran Agarwal |
|
Designation : |
Director |
|
Address : |
D-27, Mantri Kishore Park, Bhosale Nagar, Pune - 411007, Maharashtra, India |
|
Date of Birth/Age : |
11.02.1955 |
|
Qualification : |
Metallurgical Engineer |
|
Date of Appointment : |
06.12.1988 |
|
PAN No.: |
AARPA4105F |
|
Voter ID No.: |
MT/0043/0245/0120435 |
|
DIN No.: |
01517608 |
|
|
|
|
Name : |
Shashi Santosh Agarwal |
|
Designation : |
Director |
|
Address : |
B.M.D. Flat No. 27, 4th and 5th Floor, S. No.135/1A 2A, Mantri Kishore Park, Range Hills Road, Shivaji Nagar, Pune - 411007, Maharashtra, India |
|
Date of Birth/Age : |
31.07.1962 |
|
Qualification : |
Intermediate |
|
Date of Appointment : |
01.04.2003 |
|
PAN No.: |
ACDPA6679E |
|
DIN No.: |
01678661 |
KEY EXECUTIVES
|
Name : |
Ms. Kalpana Naik |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
DETAILS OF SHAREHOLDERS FILE
ATTACHED.
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
20.00 |
|
Directors or relatives of Directors |
56.66 |
|
Other top fifty shareholders |
23.34 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importers of
bright steel bars. |
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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 Available |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Italy |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2013)
a)
Licensed Capacity Not Applicable
b)
Installed Capacity 25 Tonne per
shift
c)
Production 24,320,752.00 Kg.
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 : |
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Auditors : |
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|
Name : |
R V Nevatia and Company Chartered Accountants |
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Address : |
Kundan Nagar, Pune, Maharashtra, India |
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PAN No.: |
AAHPN3334K |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
950,000 |
Equity Shares |
Rs. 10/- each |
Rs. 9.500 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
880,250 |
Equity Shares |
Rs. 10/- each |
Rs. 8.803
Millions |
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AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900,000 |
Equity Shares |
Rs. 10/- each |
Rs. 9.000 Millions |
|
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
880,250 |
Equity Shares |
Rs. 10/- each |
Rs. 8.803
Millions |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
8.803 |
8.803 |
8.803 |
|
(b) Reserves & Surplus |
338.637 |
315.362 |
275.598 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
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|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
347.440 |
324.165 |
284.401 |
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(3) Non-Current Liabilities |
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|
|
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(a) long-term borrowings |
83.156 |
37.219 |
24.616 |
|
(b) Deferred tax liabilities (Net) |
5.371 |
5.961 |
5.326 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
88.527 |
43.180 |
29.942 |
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|
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(4)
Current Liabilities |
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|
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|
(a)
Short term borrowings |
259.675 |
318.288 |
160.458 |
|
(b)
Trade payables |
216.311 |
74.269 |
99.578 |
|
(c)
Other current liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
Short-term provisions |
13.573 |
19.518 |
18.316 |
|
Total
Current Liabilities (4) |
489.559 |
412.075 |
278.352 |
|
|
|
|
|
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TOTAL |
925.526 |
779.420 |
592.695 |
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II.
ASSETS |
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|
(1)
Non-current assets |
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(a)
Fixed Assets |
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|
(i)
Tangible assets |
242.224 |
138.317 |
96.581 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
10.784 |
0.000 |
9.573 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
43.220 |
42.720 |
42.720 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
1.394 |
2.091 |
2.788 |
|
Total
Non-Current Assets |
297.622 |
183.128 |
151.662 |
|
|
|
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|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
117.331 |
127.599 |
70.622 |
|
(c)
Trade receivables |
451.955 |
415.177 |
338.972 |
|
(d)
Cash and cash equivalents |
2.239 |
13.252 |
1.117 |
|
(e)
Short-term loans and advances |
53.567 |
37.540 |
27.972 |
|
(f)
Other current assets |
2.812 |
2.724 |
2.350 |
|
Total
Current Assets |
627.904 |
596.292 |
441.033 |
|
|
|
|
|
|
TOTAL |
925.526 |
779.420 |
592.695 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
1320.321 |
1280.623 |
1004.953 |
|
|
|
Other Income |
1.403 |
1.821 |
6.208 |
|
|
|
TOTAL (A) |
1321.724 |
1282.444 |
1011.161 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1127.614 |
1157.226 |
853.380 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
11.396 |
(56.105) |
0.762 |
|
|
|
Employees benefits expense |
44.328 |
38.049 |
25.641 |
|
|
|
Other expenses |
43.075 |
38.770 |
46.750 |
|
|
|
TOTAL (B) |
1226.413 |
1177.940 |
926.533 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
95.311 |
104.504 |
84.628 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
48.127 |
38.791 |
23.201 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
47.184 |
65.713 |
61.427 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
12.791 |
7.671 |
7.845 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
34.393 |
58.042 |
53.582 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
10.879 |
18.094 |
19.873 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
23.514 |
39.948 |
33.709 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1.443 |
1.368 |
1.148 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
26.71 |
45.38 |
38.29 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.78 |
3.11 |
3.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.60 |
4.53 |
5.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.95 |
7.88 |
9.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.18 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.99 |
1.10 |
0.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28 |
1.45 |
1.58 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
8.803 |
8.803 |
8.803 |
|
Reserves & Surplus |
275.598 |
315.362 |
338.637 |
|
Net
worth |
284.401 |
324.165 |
347.440 |
|
|
|
|
|
|
long-term borrowings |
24.616 |
37.219 |
83.156 |
|
Short term borrowings |
160.458 |
318.288 |
259.675 |
|
Total
borrowings |
185.074 |
355.507 |
342.831 |
|
Debt/Equity
ratio |
0.651 |
1.097 |
0.987 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1004.953 |
1280.623 |
1320.321 |
|
|
|
27.431 |
3.100 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1004.953 |
1280.623 |
1320.321 |
|
Profit |
33.709 |
39.948 |
23.514 |
|
|
3.35% |
3.12% |
1.78% |
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 |
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10484147 |
10/03/2014 |
10,000,000.00 |
SMALL INDUSTRIAL DEVELOPMENT BANK OF INDIA |
"JEEVAN
SHREE" BUILDING, GOURND FLOOR, S. N 1109, |
C00175844 |
|
2 |
10362720 |
07/06/2012 |
70,000,000.00 |
THE THANE JANATA SAHAKARI BANK LIMITED |
HO: MADHUKAR BHAVAN,
ROAD NO.16, WAGALE ESTATE, THANE, BRANCH OFFICE : CHINCHWAD, PUNE - |
B42502054 |
|
3 |
10305005 |
23/08/2011 |
27,800,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
"JEEVAN
SHREE" BUILDING, GOURND FLOOR, S. N 1109, |
B19952704 |
|
4 |
10288301 |
31/03/2011 |
320,000,000.00 |
BANK OF BARODA |
SME BRANCH, CHAKAN, PUNE - 410501, MAHARASHTRA, INDIA |
B13021498 |
|
5 |
10006759 |
15/05/2006 |
500,000.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A01149442 |
LITIGATION DETAILS
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Case Details |
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Case Type |
Civil M.A. |
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Filing No. |
102661/2012 Filing date: 19072012 |
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Registration No. |
100902/2012 Registration date: 10102012 |
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Case code |
200301026612012 |
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CASE STATUS |
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First Hearing
Date |
10-10-2012 |
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Next Hearing Date |
17-06-2015 |
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Purpose of Hearing |
Argument on
Exh.____Unready |
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Court No & Judge |
34 DISTRICT JUDGE 3
AND ADDL. SESSIONS JUDGE PUNE |
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Petitioner(s) & Advocate(s) |
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Petitioner: M/s Water Treatment Services Address: W27,6, J Block, MIDC Bhosari Pune Advocate: Shri. Abhaykumar Apte |
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Respondent(s) & Advocate(s) |
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Respondent: M/s Tarini Steel Co Pvt Ltd etc 1 Address: 101, General Block, Opp.Power House, Telco Road, MIDC Bhosari Pune Advocate Extra parties 2) Respondent: P K Gupta Address Water: Treatment Service office at W 27 6 J Block Bhosri Pune 26 Advocate |
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ACTS |
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Under Act(s) : ------ |
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Under Section(s) : ------ |
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Subject : ----- |
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LOWER COURT INFORMATION |
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Court No & Name : Civil Judge S.D.Pune |
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Case No & Year : Spl.Sum.Suit - 0000100-2003 |
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Case Decision Date : 15-04-2010 |
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History Of Case Hearing |
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Regn. No. |
Judge |
Bussiness on Date |
Hearing Date |
Purpose of Hearing |
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100902/2012 |
DISTRICT JUDGE 3 AND ADDL. SESSIONS JUDGE PUNE |
10-10-2012 |
20-12-2012 |
Argument on Exh.____Unready |
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100902/2012 |
DISTRICT JUDGE 3 AND ADDL. SESSIONS JUDGE PUNE |
20-12-2012 |
16-02-2013 |
Argument on Exh.____Unready |
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100902/2012 |
DISTRICT JUDGE 3 AND ADDL. SESSIONS JUDGE PUNE |
16-02-2013 |
24-04-2013 |
Argument on Exh.____Unready |
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100902/2012 |
DISTRICT JUDGE 3 AND ADDL. SESSIONS JUDGE PUNE |
24-04-2013 |
28-06-2013 |
Argument on Exh.____Unready |
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100902/2012 |
DISTRICT JUDGE 3 AND ADDL. SESSIONS JUDGE PUNE |
28-06-2013 |
10-09-2013 |
Argument on Exh.____Unready |
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100902/2012 |
DISTRICT JUDGE 3 AND ADDL. SESSIONS JUDGE PUNE |
10-09-2013 |
23-12-2013 |
Argument on Exh.____Unready |
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100902/2012 |
DISTRICT JUDGE 3 AND ADDL. SESSIONS JUDGE PUNE |
23-12-2013 |
20-02-2014 |
Argument on Exh.____Unready |
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100902/2012 |
DISTRICT JUDGE 3 AND ADDL. SESSIONS JUDGE PUNE |
20-02-2014 |
03-07-2014 |
Argument on Exh.____Unready |
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100902/2012 |
DISTRICT JUDGE 3 AND ADDL. SESSIONS JUDGE PUNE |
03-07-2014 |
02-09-2014 |
Argument on Exh.____Unready |
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100902/2012 |
DISTRICT JUDGE 3 AND ADDL. SESSIONS JUDGE PUNE |
02-09-2014 |
09-10-2014 |
Argument on Exh.____Unready |
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100902/2012 |
DISTRICT JUDGE 3 AND ADDL. SESSIONS JUDGE PUNE |
09-10-2014 |
05-12-2014 |
Argument on Exh.____Unready |
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100902/2012 |
DISTRICT JUDGE 3 AND ADDL. SESSIONS JUDGE PUNE |
05-12-2014 |
28-01-2015 |
Argument on Exh.____Unready |
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100902/2012 |
DISTRICT JUDGE 3 AND ADDL. SESSIONS JUDGE PUNE |
28-01-2015 |
07-03-2015 |
Argument on Exh.____Unready |
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100902/2012 |
DISTRICT JUDGE 3 AND ADDL. SESSIONS JUDGE PUNE |
07-03-2015 |
22-04-2015 |
Argument on Exh.____Unready |
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100902/2012 |
DISTRICT JUDGE 3 AND ADDL. SESSIONS JUDGE PUNE |
22-04-2015 |
17-06-2015 |
Argument on Exh.____Unready |
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UNSECURED LOANS
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UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
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LONG-TERM BORROWINGS |
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Deferred payment liabilities |
21.788 |
12.288 |
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Loans and advances from related parties |
2.260 |
2.046 |
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SHORT TERM BORROWINGS |
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Other loans and advances |
9.649 |
68.537 |
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Total |
33.697 |
82.871 |
FINANCIAL RESULTS
During the year, the company witnessed a growth of around 4% in the
turnover compared to that of the previous years. The net profitability of the
company stood at 1.79% of the turnover as against 3.11% of the previous years.
The main reasons for increase in the turnover are increase in the
commercial order for company’s products from the existing as well as new
customers and installation of new machinery by the Company which resulted in
efficient working and execution of work orders. However, the net profitability
has been decreased. The main reasons for the decrease in the net profitability
are increase in the fixed cost, employees and administration cost of the
Company.
The current year has also witnessed the positive trend in the market.
The directors are exploring new opportunities and are hopeful of posting
improved results in the current year.
FIXED ASSETS:
· Land
· Buildings
· Factory building
· Plant and equipment
· Factory equipments
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
· Other equipments
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 |
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|
1 |
Rs. 96.56 |
|
Euro |
1 |
Rs. 69.18 |
INFORMATION DETAILS
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Information
Gathered by : |
NYA |
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL
CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILITY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
4 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
YES |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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DEFAULTER |
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--RBI |
YES/NO |
NO |
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--EPF |
YES/NO |
NO |
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TOTAL |
|
43 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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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.