MIRA INFORM REPORT
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Report No. : |
334507 |
|
Report Date : |
03.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
RESPONSIVE INDUSTRIES LIMITED |
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Registered
Office : |
Village Betegaon, Mahagaon Road, Boisar East, Taluka Palghar,
Betegaon, District Thane– 401501, Maharashtra |
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Tel No.: |
91-22-66562890 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
13.07.1982 |
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Com. Reg. No.: |
11-027797 |
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Capital Investment
/ Paid-up Capital : |
Rs. 266.913 Million |
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CIN No.: [Company Identification
No.] |
L99999MH1982PLC027797 |
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IEC No.: |
0306084902 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS40483C PNER13984F |
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PAN No.: [Permanent Account No.] |
AABCS5068A AABCS5068A |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer of Rigid PVC,
Leather cloth and Soft Shews. |
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No. of Employees
: |
1300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Maximum Credit Limit : |
USD 16000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a well-established company having fine track record. For the financial year ended 2015, sales turnover of the company has declined which has resulted into dip in profit of the company during a year under a review. However, rating reflects company's established market position in the polyvinyl-chloride (PVC) based products and shipping ropes businesses supported by healthy financial base and adequate net worth profile of the company. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good for dealings at usual trade terms and conditions. normal business |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
August 19, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A1 |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
August 19, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Ankush |
|
Designation : |
Accounts |
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Contact No.: |
91-22-66562890 |
|
Date : |
31.07.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Village Betegaon, Mahagaon Road, Boisar East, Taluka Palghar,
Betegaon, District Thane– 401501, Maharashtra |
|
Tel. No.: |
91-22-66562890/ 66562727/ 66562704/66562727 |
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Mobile No.: |
91-9821999445 (Mr. Ankush) |
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Fax No.: |
91-22-66562798/ 99 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate/ Administrative Office : |
7th Floor, Esperanca Building, Shahid Bhagat Singh Road,
Colaba, Mumbai – 400001, Maharashtra, India |
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Tel. No.: |
91-22-66562821 |
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Fax No.: |
91-22-66562798/ 99 |
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E-Mail : |
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Website: |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Atit Agarwal |
|
Designation : |
Chairman and Whole Time Director |
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Name : |
Mrs. Swati Agarwal |
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Designation : |
Non-Executive Director |
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Name : |
Mr. Rajesh Pandey |
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Designation : |
Director |
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Name : |
Mr. S. S. Thakur |
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Designation : |
Independent Non – Executive Director |
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Name : |
V.K. Chopra |
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Designation : |
Independent Non – Executive Director |
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Name : |
Mr. Michael Freedman |
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Designation : |
Independent Non – Executive Director |
KEY EXECUTIVES
|
Name : |
Ms. Alpa Ramani |
|
Designation : |
Company Secretary |
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|
|
Name : |
Mr. Ankush |
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Designation : |
Accounts |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2015
|
Category of
Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
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|
3562340 |
1.33 |
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|
157705670 |
59.09 |
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|
161268010 |
60.42 |
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|
|
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Total shareholding of Promoter and Promoter Group (A) |
161268010 |
60.42 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
10908706 |
4.09 |
|
|
11469980 |
4.30 |
|
|
22378686 |
8.38 |
|
|
|
|
|
|
3240268 |
1.21 |
|
|
|
|
|
|
443882 |
0.17 |
|
|
79581854 |
29.82 |
|
|
37034 |
0.01 |
|
|
24589 |
0.01 |
|
|
79520231 |
29.79 |
|
|
83266004 |
31.20 |
|
Total Public shareholding (B) |
105644690 |
39.58 |
|
Total (A)+(B) |
266912700 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
266912700 |
0.00 |
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BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Rigid PVC, Leather cloth and Soft Shews. |
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Products : |
Rigid
PVC, Leather cloth and Soft Shews |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, Cheque and Credit |
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Purchasing : |
Cash, Cheque and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
1300 (Approximately) |
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Bankers : |
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Facilities : |
Note : (AS ON 31.03.2014) Long Term
Borrowing: Note 1: The loans are repayable in equal installments aggregating to Rs.10.900 million (PY Rs.3.870 million) The interest rate on above is ranging between8.50% to 10.60%. Loans against vehicles from Banks are secured by way of hypothecation of specific vehicles acquired under the arrangements. Note 2: This is a External Commercial Borrowings which is secured by way of first pari passu charge on all fixed assets of the Company and second ranking pari passu charge on all current assets of the Company. The External Commercial Borrowings are repayable in 24 quarterly installments commencing from December 2012. Interest rate on ECB are 6 months USD LlBOR + 456 basis points. Short Term
Borrowing Note 1: PCFC Loan of Rs. 809.770 million (PY Rs. 793.790 million) are secured by first ranking pari passu hypothecation charge on entire current assets of the company both present and future. PCFC loan of Rs. 471.320 million (PY Rs. 306.380 million) are secured by hypothecation of mutual funds / fixed deposits with bank. Note2: EBRD (Post Shipment) of Rs. NI (PY Rs. 109.480 million) are secured by hypothecation of Investments in Mutual Funds. Note3: Buyer’s Credit of Rs. 603.100 million (PY Rs. 708.580 million) was secured by goods purchased under Letter of credit. Note4: Bank Overdraft amounting to Rs. 3.190 Million (PY Rs. Nil) secured by fixed deposits held with ban. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Haribhakti and Company Chartered Accountants |
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Address : |
42, Free Press House, 4th Floor, 2 1 5, Narirnan Point, Mumbai – 400021, Maharashtra, India |
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Solicitors : |
Rajani Associates |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Wellknown Business Ventures Private Limited |
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Fellow Subsidiary Company : |
Sun Plastochem Limited |
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Subsidiary Company : |
Axiom Cordages Limited |
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Investment in partnership firm: |
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Entities where Key Management Personnel have significant influence : |
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CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital : NOT
AVAILABLE
Issued, Subscribed & Paid-up Capital : Rs. 266.913
Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
420000000 |
Equity Shares |
Rs.1/- each |
Rs.420.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
266912700 |
Equity Shares |
Rs.1/- each |
Rs.266.913 Million |
|
|
|
|
|
Reconciliation of
shares outstanding at the beginning and at the end of the year
(Rs. in Million)
|
Opening
balance of shares |
|
|
Closing
balance of shares |
266.913 |
|
|
266.913 |
Shares held by
Holding Company and Associate Company
(Rs. in Million)
|
Holding Company - Wellknown Business Ventures Private Limited] |
148.425 |
|
Subsidiary Company - [Axiom Cordages Limited] |
4.418 |
Details of
shareholders holding more than 5% sham in the company
(Rs. in Million)
|
Wellknown Business
Ventures Private Limited |
|
|
Number
of share hold |
148.425 |
|
%
of total equity share capital |
55.61% |
|
Fossebridge Limited |
|
|
Number
of share hold |
32.902 |
|
%
of total equity share capital |
12.33% |
|
Xatis
International Limited |
|
|
Number
of share hold |
32.706 |
|
%
of total equity share capital |
12.25% |
|
Brenzett Limited |
|
|
Number
of share hold |
14.811 |
|
%
of total equity share capital |
5.55% |
There are no bonus shares, shares issued for consideration other than cash and shares bought back during the period of five years immediately preceding the reporting date
Rights / Preferences
and restrictions attached to equity shares.
Each holder of equity shares is entitled to one vote per equity share. They are entitled to receive dividend proposed by the Board of Directors and approved by shareholders in General Meeting, right to receive annual report and other quarterly / half yearly / annual publications and right to get new shares proportionately in case of issuance of additional shares by the Company.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company after the distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
266.913 |
266.910 |
266.910 |
|
(b) Reserves & Surplus |
5177.098 |
4549.540 |
4058.160 |
|
(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) |
5444.011 |
4816.450 |
4325.070 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2844.654 |
3434.480 |
3504.690 |
|
(b) Deferred tax liabilities
(Net) |
359.368 |
478.980 |
464.190 |
|
(c) Other long term
liabilities |
5.000 |
5.000 |
5.000 |
|
(d) long-term provisions |
23.663 |
16.190 |
12.620 |
|
Total
Non-current Liabilities (3) |
3232.685 |
3934.650 |
3986.500 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1909.939 |
3303.490 |
1918.230 |
|
(b) Trade payables |
182.489 |
262.890 |
276.000 |
|
(c) Other current liabilities |
831.762 |
554.240 |
409.160 |
|
(d) Short-term provisions |
48.322 |
77.480 |
38.560 |
|
Total
Current Liabilities (4) |
2972.512 |
4198.100 |
2641.950 |
|
|
|
|
|
|
TOTAL |
11649.208 |
12949.200 |
10953.520 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
8273.170 |
7409.010 |
|
(ii) Intangible Assets |
|
1.830 |
1.590 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
257.858 |
260.300 |
261.450 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
309.617 |
197.790 |
151.340 |
|
(e) Other Non-current assets |
0.000 |
136.150 |
0.000 |
|
Total
Non-Current Assets |
7901.563 |
8869.240 |
7823.390 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
72.959 |
92.660 |
468.800 |
|
(b) Inventories |
483.776 |
432.780 |
587.570 |
|
(c) Trade receivables |
1781.473 |
2133.710 |
1329.350 |
|
(d) Cash and cash equivalents |
574.779 |
861.720 |
227.030 |
|
(e) Short-term loans and
advances |
541.248 |
238.640 |
95.180 |
|
(f) Other current assets |
293.410 |
320.450 |
422.200 |
|
Total
Current Assets |
3747.645 |
4079.960 |
3130.130 |
|
|
|
|
|
|
TOTAL |
11649.208 |
12949.200 |
10953.520 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
15135.434 |
18422.960 |
15188.540 |
|
|
Other Income |
215.555 |
149.090 |
26.820 |
|
|
TOTAL (A) |
15350.989 |
18572.050 |
15215.360 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
12393.887 |
15693.280 |
12609.040 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
41.123 |
(10.890) |
(4.070) |
|
|
Employees benefits
expense |
103.331 |
85.090 |
89.570 |
|
|
Other expenses |
849.726 |
826.570 |
802.860 |
|
|
TOTAL (B) |
13388.067 |
16594.050 |
13497.400 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
1962.922 |
1978.000 |
1717.960 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
259.352 |
294.280 |
278.630 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1703.570 |
1683.720 |
1439.330 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1231.168 |
1059.890 |
921.210 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
472.402 |
623.830 |
518.120 |
|
|
|
|
|
|
|
Less |
TAX (H) |
140.504 |
115.950 |
44.700 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
331.898 |
507.880 |
473.420 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD (J) |
NA |
2576.520 |
2134.330 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend –
Equity Shares |
NA |
26.690 |
26.690 |
|
|
Corporate Dividend Tax |
NA |
4.540 |
4.540 |
|
|
Balance Carried to the
B/S (I+J-K) |
|
3053.170 |
2576.520 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Export
Sales - FOB |
NA |
10651.580 |
7284.570 |
|
|
TOTAL EARNINGS |
NA |
10651.580 |
7284.570 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
6420.630 |
3703.590 |
|
|
Components and Stores
parts |
NA |
1.730 |
1.800 |
|
|
Capital Goods |
NA |
1485.510 |
874.250 |
|
|
TOTAL IMPORTS |
NA |
7907.870 |
4579.640 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
1.24 |
1.90 |
1.77 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
448.390 |
324.740 |
|
Cash generated from operations |
NA |
977.600 |
1114.830 |
|
Net cash inflow/Outflow from Operating Activities |
NA |
882.470 |
1006.480 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
|
Net Profit Margin (PAT / Sales) |
(%) |
2.19 |
2.76 |
3.12 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
12.97 |
10.74 |
11.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.15 |
4.92 |
4.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.13 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.87 |
1.49 |
1.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26 |
0.97 |
1.18 |
STOCK
PRICES
|
Face Value |
Rs.1.00/- |
|
Market Value |
Rs.114.90/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
266.910 |
266.910 |
266.913 |
|
Reserves & Surplus |
4058.160 |
4549.540 |
5177.098 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
4325.070 |
4816.450 |
5444.011 |
|
|
|
|
|
|
long-term borrowings |
3504.690 |
3434.480 |
2844.654 |
|
Short term borrowings |
1918.230 |
3303.490 |
1909.939 |
|
Total
borrowings |
5422.920 |
6737.970 |
4754.593 |
|
Debt/Equity
ratio |
1.254 |
1.399 |
0.873 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
15188.540 |
18422.960 |
15135.434 |
|
|
|
21.295 |
(17.845) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
15188.540 |
18422.960 |
15135.434 |
|
Profit |
473.420 |
507.880 |
331.898 |
|
|
3.12% |
2.76% |
2.19% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
Case
Derails
Bench:
- Bombay
|
Lodging
No.:- ARBPL/909/2015 Filing Date 30/04/2015 Reg |
|
|
Petitioner:
- BANYAN TREE GROWTH CAPITAL, L.L.C., |
Respondent :- RESPONSIVE INDUSTRIES
LIMITED |
|
Petn.Adv.
:- AZB AND PARTNERS (I4127) |
Resp. Adv.:- D H LAW ASSOCIATES (680) |
|
Bench:- |
SINGLE |
|
|||
|
Status:- |
Pre-Admission |
Category:- |
ARBITRATION ACT. |
|
Next Date:- |
21/08/2015 |
Stage:- |
ARBP FOR HEARING AND FINAL DISPOSAL U/S 9 |
|
Coram:- |
HON'BLE SHRI JUSTICE R.D. DHANUKA |
|
Last Date:- |
23/07/2015 |
Stage:- |
FOR AD-INTERIM RELIEF [ORIGINAL SIDE
MATTERS] |
|
Last Coram:- |
HON'BLE SHRI JUSTICE R.D. DHANUKA |
|
Act :- |
Arbitration and Conciliation Act 1996 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10436671 |
19/09/2014 * |
2,400,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER,
'E', CUFFE PARADE,, COLABA, MUM |
C21638846 |
|
2 |
10432597 |
24/05/2013 |
12,247,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR
OPP SAMARTHESHWAR TEMPLE, LAW G |
B77702462 |
|
3 |
10290670 |
10/01/2013 * |
3,288,677,500.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER,
'E', CUFFE PARADE,, COLABA,, MU |
B65915225 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
SHORT TERM
BORROWINGS |
|
|
|
From Others Parties
|
|
|
|
Suppliers Credit in foreign Currency |
NA |
1416.110 |
|
Total |
NA |
1416.110 |
FIXED ASSETS
- Land
- Factory Building
- Plant and equipment
- Electrical Installation
- Furniture and Fixtures
- Office Equipments
- Computer
- Motor Cars
- Motor Trucks
- Weighing Scale
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. 64.01 |
|
|
1 |
Rs. 99.84 |
|
Euro |
1 |
Rs. 70.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
60 |
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.