MIRA INFORM REPORT
|
Report No. : |
335993 |
|
Report Date : |
08.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
KIRI INDUSTRIES LIMITED (w.e.f28.03.2011) |
|
|
|
|
Formerly Known
As : |
KIRI DYES AND CHEMICALS LIMITED (w.e.f.10.03.2006) KIRI DYES AND CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
7th
Floor, Hasubhai Chambers, Town Hall, Ellisbridge, Ahmedabad - 380006, Gujarat |
|
Tel. No.: |
91-79-26574371 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
14.05.1998 |
|
|
|
|
Com. Reg. No.: |
04-034094 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 270.586
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24231GJ1998PLC034094 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMK01019E |
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|
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PAN No.: [Permanent Account No.] |
Not Available |
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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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|
|
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Line of Business
: |
Manufacturer and Exporters of Dyes, Dyes intermediates and Basic
Chemicals. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4700000 |
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|
|
|
Status : |
Moderate |
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|
|
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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 moderate track record. The company possesses moderate operational performance and it has incurred huge losses from its operational activities. Rating further constrained on account of company's moderate financial risk profile marked by modest net worth and huge external borrowing taken by the company. However, trade relations are reported as fair. Payments are reported to be slow but correct. In view of operational losses, the 'company can be considered for business dealing 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 – 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 |
|
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
31-03-2013.
LOCATIONS
|
Registered Office : |
7th
Floor, Hasubhai Chambers, Town Hall, Ellisbridge, Ahmedabad - 380006,
Gujarat, India |
|
Tel. No.: |
91-79-26574371/
72/ 73/ 40237444 |
|
Mobile No.: |
91-9925012884 [Mr. Dhyan V] |
|
Fax No.: |
91-79-26574373/
74 / 25834960 |
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E-Mail : |
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|
Website: |
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|
Location : |
Owned |
|
|
|
|
Corporate Office/ Factory 1 : |
Dyes Division: Plot No. 299/1/A,
299/1/B and 10/8, Near Water Tank, Phase II, GIDC Estate, Vatva, Ahmedabad –
382445, |
|
Tel. No.: |
91-79-25894477/
25835297/ 26730802/ 40237444 |
|
Fax No.: |
91-79-25834960/
26769529 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Intermediates
Division: Block No. 396 / 399/ 403/ 404 EPC Canal Road,, Village: Dudhwada,
Karakhadi, Taluka: Padra, District Vadodara, Gujarat, India |
|
Tel. No.: |
91-2662-273444 |
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Fax No.: |
91-2662-273444 |
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E-Mail : |
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|
Factory 3 : |
Basic Chemicals
Division: Plot No. 552, 566, 567, 569, 570, 571, Village: Dudhwada, Karakhadi, Taluka:
Padra, District: Vadodara, Gujarat, India |
|
Tel. No.: |
91-2662–273724/ 25 |
|
Fax No.: |
91-2662-273726 |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Pravin Amritlal Kiri |
|
Designation : |
Chairman |
|
Address : |
53, Manek Baug Society, Ambawadi, Ahmedabad-380006, Gujarat, India |
|
Date of Birth/Age : |
01.11.1945 |
|
Qualification : |
B. Sc. (Chemistry) |
|
Date of Appointment : |
14.05.1998 |
|
PAN No.: |
AIGPK7830A |
|
|
|
|
Name : |
Mr. Manish Pravinbhai Kiri |
|
Designation : |
Managing Director |
|
Address : |
53, Manek Baug Society, Ambawadi, Ahmedabad-380006, Gujarat, India |
|
Date of Birth/Age : |
26.12.1972 |
|
Qualification : |
B. E. (Ele. and Comm.) MBA. (Michigan University, USA) |
|
Date of Appointment : |
14.05.1998 |
|
|
|
|
Name : |
Mr. Shankar R Patel |
|
Designation : |
Whole Time Director |
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|
|
|
Name : |
Mr. Ajay J. Patel |
|
Designation : |
Non Executive Independent Director (upto 14.08.2012) |
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Qualification : |
M. D. (Radio Diagnosis), D.M.R.D. |
|
|
|
|
Name : |
Mr. Keyoor M. Bakshi |
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Designation : |
Non Executive Independent Director |
|
Qualification : |
B. Com, LLB, FCS |
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|
|
Name : |
Ms. Harsha Bangari |
|
Designation : |
Nominee Director (Export Import Bank of India) |
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|
|
|
Name : |
Mr. V. Anish Babu |
|
Designation : |
Nominee Director (IFCI Limited) (w.e.f. 13.02.2012) |
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Qualification : |
B.Com, F.C.A., A.C.S. |
|
|
|
|
Name : |
Mr. Jayanta Kumar Sinha |
|
Designation : |
Nominee Director - State Bank of India (w.e.f. 12 August, 2013) |
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|
|
Name : |
Mr. Mukesh Desai |
|
Designation : |
Additional – Independent Director (w.e.f. 11 August, 2014) |
KEY EXECUTIVES
|
Name : |
Mr. Suresh S. Gondalia |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Ms. Shruti |
|
Designation : |
Deputy General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2015
|
Category
of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
6740878 |
29.66 |
|
|
6740878 |
29.66 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
6740878 |
29.66 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
777069 |
3.42 |
|
|
4429718 |
19.49 |
|
|
1122867 |
4.94 |
|
|
1122867 |
4.94 |
|
|
6329654 |
27.85 |
|
|
|
|
|
|
2287257 |
10.06 |
|
|
|
|
|
|
2625064 |
11.55 |
|
|
3799270 |
16.72 |
|
|
943003 |
4.15 |
|
|
20268 |
0.09 |
|
|
131140 |
0.58 |
|
|
353724 |
1.56 |
|
|
437871 |
1.93 |
|
|
9654594 |
42.48 |
|
Total Public shareholding (B) |
15984248 |
70.34 |
|
Total (A)+(B) |
22725126 |
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) |
22725126 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporters of Dyes, Dyes intermediates and Basic
Chemicals. |
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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 : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Statutory Auditors: |
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|
Name : |
V. D. Shukla and Company Chartered Accountants |
|
Address : |
Ahmedabad, Gujarat, India |
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|
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Cost Auditors: |
|
|
Name : |
V. H. Savaliya and Associates Cost Accountants, |
|
Address : |
Ahmedabad, Gujarat, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Wholly Owned
Subsidiary (AS ON 31.03.2014): |
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|
|
|
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Joint Venture (AS
ON 31.03.2014): |
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|
|
|
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Associate Company
(AS ON 31.03.2014): |
|
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 270.586
Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,00,00,000 |
Equity Shares |
Rs. 10/- each |
Rs. 500.000 Million |
|
15,00,00,000 |
Preference Shares |
Rs. 10/- each |
Rs. 1500.000 Million |
|
|
Total |
|
Rs. 2000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19,000,053 |
Equity Shares |
Rs.10/- each |
Rs. 190.001
Million |
|
|
|
|
|
NOTE:
The reconciliation
of the number of shares outstanding as at 31.03.2012 and 31.03.2011 is set out
below:
|
Particulars |
31.03.2014 |
|
Number of shares at the beginning |
19,000,053 |
|
Add: Equity Shares issued during the year |
-- |
|
Number of shares at the end |
19,000,053 |
The details of
shareholders holding more than 5% shares as at 31.03.2012 and 31.03.2011 are
set out below:
|
Name of the shareholders |
No. of shares |
% held as at
31.03.2014 |
|
Mr. Pravin Kiri |
2501680 |
13.17 |
|
Mr. Manish Kiri |
1859391 |
9.79 |
|
GMO Emerging Markets Fund |
12317311016942 |
5.35 |
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 |
270.586 |
190.001 |
190.001 |
|
(b) Reserves & Surplus |
879.962 |
945.292 |
1740.741 |
|
(c) Money received against
share warrants |
510.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
130.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1660.548 |
1135.293 |
2060.742 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7346.148 |
4954.481 |
4930.194 |
|
(b) Deferred tax liabilities
(Net) |
242.047 |
210.508 |
212.948 |
|
(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) |
7588.195 |
5164.989 |
5143.142 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
365.224 |
1528.775 |
1531.317 |
|
(b) Trade payables |
1002.845 |
563.752 |
887.024 |
|
(c) Other current liabilities |
1151.548 |
2045.508 |
1036.209 |
|
(d) Short-term provisions |
16.380 |
13.813 |
14.395 |
|
Total
Current Liabilities (4) |
2535.997 |
4151.848 |
3468.945 |
|
|
|
|
|
|
TOTAL |
11784.740 |
10452.130 |
10672.829 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3951.881 |
2631.999 |
2647.806 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
1090.754 |
1088.482 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
1724.088 |
1697.749 |
1666.489 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
233.035 |
214.274 |
316.665 |
|
(e) Other Non-current assets |
13.272 |
6.513 |
14.442 |
|
Total
Non-Current Assets |
5922.276 |
5641.289 |
5733.884 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
538.831 |
909.875 |
1492.706 |
|
(c) Trade receivables |
4480.706 |
3196.660 |
2951.037 |
|
(d) Cash and cash equivalents |
14.381 |
61.639 |
28.567 |
|
(e) Short-term loans and
advances |
806.689 |
635.197 |
458.563 |
|
(f) Other current assets |
21.857 |
7.470 |
8.072 |
|
Total
Current Assets |
5862.464 |
4810.841 |
4938.945 |
|
|
|
|
|
|
TOTAL |
11784.740 |
10452.130 |
10672.829 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
7815.694 |
5829.450 |
5246.152 |
|
|
Other Income |
22.990 |
5.747 |
14.195 |
|
|
TOTAL
(A) |
7838.684 |
5835.197 |
5260.347 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
5309.619 |
3531.541 |
4153.112 |
|
|
Purchases of Stock-in-Trade |
214.347 |
72.775 |
80.821 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
276.345 |
731.280 |
74.797 |
|
|
Employees benefits expense |
161.684 |
199.977 |
157.129 |
|
|
Other
expenses |
1167.200 |
-- |
-- |
|
|
Administrative Expenses |
-- |
71.664 |
51.588 |
|
|
Manufacturing Expenses |
-- |
525.393 |
331.972 |
|
|
Selling & Distribution Expenses |
-- |
81.358 |
63.345 |
|
|
Prior Period Adjustments |
-- |
2.254 |
2.057 |
|
|
Extraordinary item |
-- |
287.661 |
1115.919 |
|
|
TOTAL
(B) |
7129.195 |
5503.903 |
6030.740 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
709.489 |
331.294 |
(770.393) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
844.407 |
772.623 |
754.279 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(134.918) |
(441.329) |
(1524.672) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
202.180 |
334.964 |
319.790 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(337.098) |
(776.293) |
(1844.462) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
31.539 |
(2.440) |
(10.170) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(368.637) |
(773.853) |
(1834.292) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
1767.950 |
530.493 |
|
|
TOTAL
EARNINGS |
NA |
1767.950 |
530.493 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
197.160 |
121.664 |
|
|
Machinery and Spares |
NA |
0.000 |
0.000 |
|
|
TOTAL
IMPORTS |
NA |
197.160 |
121.664 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(17.75) |
(40.73) |
(96.54) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
1567.707 |
668.632 |
|
Net Cash Flow from Operations |
NA |
1570.147 |
678.802 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(4.72) |
(13.27) |
(34.96) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.08 |
5.68 |
(14.68) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.35) |
(10.13) |
(23.29) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.20) |
(0.68) |
(0.90) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.64 |
5.71 |
3.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.31 |
1.16 |
1.42 |
STOCK
PRICES
|
Face Value |
Rs.10.00/- |
|
Market Value |
Rs.124.05/- |
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 |
190.001 |
190.001 |
270.586 |
|
Reserves & Surplus |
1740.741 |
945.292 |
879.962 |
|
Money received against share
warrants |
510.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
130.000 |
0.000 |
0.000 |
|
Net
worth |
2570.742 |
1135.293 |
1150.548 |
|
|
|
|
|
|
long-term borrowings |
4930.194 |
4954.481 |
7346.148 |
|
Short term borrowings |
1531.317 |
1528.775 |
365.224 |
|
Total
borrowings |
6461.511 |
6483.256 |
7711.372 |
|
Debt/Equity
ratio |
2.513 |
5.711 |
6.702 |
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 |
5246.152 |
5829.450 |
7815.694 |
|
|
|
11.119 |
34.073 |
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 |
5246.152 |
5829.450 |
7815.694 |
|
Profit |
(1834.292) |
(773.853) |
(368.637) |
|
|
(34.96%) |
(13.27%) |
(4.72%) |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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) |
No |
|
16 |
No. of employees |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
HIGH COURT OF GUJARAT
STAMP NUMBER No. 2327 of 2012
|
Status : PENDING
|
CCIN No :
001087201202327 |
|
||||||||||
|
||||||||||
|
S.NO. |
Name of the Petitioner |
Advocate On Record |
||||||||
|
1 |
PRABHA CHEM INDUSTRIES |
MR ABHISHEK M MEHTA for: Petitioner(s) |
||||||||
|
S.NO. |
Name of the Respondant |
Advocate On Record |
||||||||
|
1 |
KIRI INDUSTRIES LTD. |
|||||||||
|
|
||||||||||
|
Presented On |
: 08/11/2012 |
Registered On |
: 08/11/2012 |
|||||||
|
Bench Category |
: SINGLE BENCH |
District |
: AHMEDABAD |
|||||||
|
Case Originated From |
: THROUGH HIS/HER/THEIR ADVOCATE |
Listed |
: 0 times |
|||||||
|
StageName |
: OFFICE OBJECTION (FILING STAGE) |
|||||||||
Office Objection
|
|
|
Filing Stage |
· WHETHER INDEX-CUM-CHRONOLOGY OF DOCUMNETS AND EVENTS FILED ? · WHETHER VAKALATNAMA SIGNED BY ALL PETITIONERS/ APPELLANTS & ACCEPTEDBY ADVOCATE · WHETHER COPIES ARE LEGIBLE AND WHETHER TYPED COPIES OF HAND WRITTEN ANNEXURES FILED ? · BLANKS IN MEMO |
|
Classification |
|
|
Act |
|
Office Details
|
|
S. No. |
Filing Date |
Document Name |
Advocate Name |
Court Fee on
Document |
Document Details |
|
1 |
08/11/2012 |
VAKALATNAMA |
MR ABHISHEK M MEHTA ADVOCATE |
5 |
MR ABHISHEK M MEHTA:1 |
|
2 |
08/11/2012 |
MEMO OF PETITION/APPEAL/SUIT |
MR ABHISHEK M MEHTA ADVOCATE |
100 |
MR ABHISHEK M MEHTA:1 |
Court Proceedings
|
|||||
|
S. No. |
Notified Date |
CourtCode |
Board Sr. No. |
Stage |
Action |
Coram |
|
1 |
23/11/2012 |
51 |
- |
OFFICE OBJECTION (FILING STAGE) |
NEXT DATE |
· ADDITIONAL REGISTRAR ( JUDICIAL) |
UNSECURED LOAN
|
PARTICULARS |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Zero Coupon Foreign Currency Convertible Bonds |
|
42.139 |
|
Term Loans from Banks |
|
112.660 |
|
Short-term
borrowings |
|
|
|
Working Capital Facility |
|
|
|
Loans from Directors / Promoters |
|
|
|
Interoperate Deposits |
|
310.601 |
|
Total |
|
465.400 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10455274 |
03/11/2014 * |
450,000,000.00 |
INVENT ASSETS SECURITISATION AND RECONSTRUCTION PR |
107, JOLLY MAKER
CHAMBERS NO.2, 225, NARIMAN POIN |
C42211151 |
|
2 |
10424538 |
17/04/2015 * |
2,740,100,000.00 |
INVENT ASSETS SECURITISATION AND RECONSTRUCTION PR |
107, JOLLY MAKER
CHAMBERS NO.2, 225, NARIMAN POIN |
C56064264 |
|
3 |
10424536 |
17/04/2015 * |
2,176,400,000.00 |
INVENT ASSETS SECURITISATION AND RECONSTRUCTION PR |
107, JOLLY MAKER
CHAMBERS NO.2, 225, NARIMAN POIN |
C56133093 |
|
4 |
10384640 |
28/09/2012 |
525,300,000.00 |
INDIAN BANK |
AHMEDABAD MAIN BRANCH,
ETERNIA COMPLEX, 74, SWAST |
B61442356 |
|
5 |
10375838 |
03/11/2014 * |
85,800,000.00 |
INVENT ASSETS SECURITISATION AND RECONSTRUCTION PR |
107, JOLLY MAKER
CHAMBERS NO.2, 225, NARIMAN POIN |
C42210393 |
|
6 |
10360164 |
30/09/2014 * |
468,120,010.00 |
ASSETS CARE & RECONSTRUCTION ENTERPRISE LIMITED |
6TH FLOOR, IFCI TOWER,
61, NEHRU PLACE, NEW DELHI |
C52064086 |
|
7 |
10321746 |
09/11/2011 |
1,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND
FLOOR, 17, R.KAMANI MARG,, BA |
B26610568 |
|
8 |
10278588 |
17/04/2015 * |
6,297,800,000.00 |
INVENT ASSETS SECURITISATION AND RECONSTRUCTION PR |
107, JOLLY MAKER
CHAMBERS NO.2, 225, NARIMAN POIN |
C56068869 |
|
9 |
10281369 |
03/11/2014 * |
945,000,000.00 |
INVENT ASSETS SECURITISATION AND RECONSTRUCTION PR |
107, JOLLY MAKER
CHAMBERS NO.2, 225, NARIMAN POIN |
C42208264 |
|
10 |
10272361 |
17/04/2015 * |
1,381,300,000.00 |
INVENT ASSETS SECURITISATION AND RECONSTRUCTION PR |
107, JOLLY MAKER
CHAMBERS NO.2, 225, NARIMAN POIN |
C56059637 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in Million)
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
|
|
|
|
|
Outstanding Letter of Credits issued by Banks |
|
-- |
|
Guarantees given by Banks on behalf of the Company for various purposes |
NA |
18.829 |
|
Corporate Guarantees given by the Company on behalf of the Joint Venture Company |
NA |
890.000 |
|
Disputed Income Tax / Excise matters for various assessment years for which appeals are pending with Appellate authorities |
NA |
179.813 |
FIXED ASSETS
TANGIBLE ASSETS
- Land
- Building
- Plant and Machinery
- Electrification
- Office Equipments
- Furniture and Fixture
- Vehicles
- Capital Work In Progress
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registred 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.63.81 |
|
UK Pound |
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.69.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
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 |
|
32 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.