MIRA INFORM REPORT
|
Report No. : |
337171 |
|
Report Date : |
14.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
AIMCO PESTICIDES LIMITED |
|
|
|
|
Registered
Office : |
B-1/1, MIDC Industrial Area, Awashi Khed, Lote Parshuram – 415707, Maharashtra
|
|
Tel. No.: |
91-22-67604000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
12.08.1987 |
|
|
|
|
Com. Reg. No.: |
11-044362 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 92.365 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24210MH1987PLC044362 |
|
|
|
|
IEC No.: |
0389021415 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA3365K |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer, formulation and marketing of agrochemicals. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (16) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is an established company having moderate track record. As per the information under director report, management has decided
to make one time settlement plan as approved by the State Bank of India,
principle lender and it has cleared all their dues on date. As per the status in the BIFR company still appears as sick company.
However, Management has made its represents to BIFR through State Bank of
India, being operating agency to get necessary directors for removing its
status as “Sick Company. For the financial year ended 2015, company possesses above average
operational performance and it has achieved some profit from its operational
activities. Due to profit, company has able to wipeout some of its
accumulated losses during a year a under review. However, rating remain constrained on account of company’s weak
financial risk profile marked by negative reserves and moderate liquidity
profile of the company. Defaulter check also done through external source and it shows that
company has poor track record of meeting debt payment obligation due to which
company appears in the RBI defaulter list. Business is active. Payments are reported to be slow. In view of weak financial profile, the company can be considered for
business dealings on safe and secured trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 has been found enlisted as a defaulter
in the publicly available RBI Defaulters’ list and the details of the same are
as under:
|
Bank |
Branch |
Quarter |
Borrower Name |
Directors Name |
Outstanding Amount ( Rs. in Million) |
|
STATE BANK OF
INDIA |
SAMB I MUMBAI |
31.03.13 |
AIMCO PESTICIDES
LIMITED |
SAMIR P. DAVE,
PRADEEP P. DAVE, E.P. Shrivastava, Kaja Ramgopal, Bharat Hariharbhai Pandya,
ASIF P. DAVE |
172.069 |
|
STATE BANK OF
INDIA |
SAMB MUMBAI |
31.03.11 |
AIMCO PESTICIDES
LIMITED |
PRADEEP P. DAVE,
ASIF P. DAVE, SAMIR P. DAVE, E.P. VASTAVA |
187.100 |
|
STATE BANK OF
INDIA |
SAMB MUMBAI |
30.06.11 |
AIMCO PESTICIDES
LIMITED |
E.P. VASTAVA,
SAMIR P. DAVE, PRADEEP P. DAVE, ASIF P. DAVE |
187.100 |
|
STATE BANK OF
INDIA |
SAMB MUMBAI |
30.09.11 |
AIMCO PESTICIDES
LIMITED |
ASIF P. DAVE,
SAMIR P. DAVE, PRADEEP P. DAVE, E.P. VASTAVA |
187.100 |
|
STATE BANK OF
INDIA |
SAMB MUMBAI |
31.12.11 |
AIMCO PESTICIDES
LIMITED |
PRADEEP P. DAVE,
ASIF P. DAVE, E.P. VASTAVA, SAMIR P. DAVE |
187.100 |
|
STATE BANK OF
INDIA |
SAMB, MUMBAI. |
31.03.12 |
AIMCO PESTICIDES
LIMITED |
PRADEEP P. DAVE,
Kaja Ramgopal, E.P. Shrivastava, Bharat Hariharbhai Pandya, ASIF P. DAVE,
SAMIR P. DAVE |
187.069 |
|
STATE BANK OF
INDIA |
SAMB, MUMBAI. |
30.06.12 |
AIMCO PESTICIDES
LIMITED |
ASIF P. DAVE,
E.P. Shrivastava, SAMIR P. DAVE, Bharat Hariharbhai Pandya, Kaja Ramgopal,
PRADEEP P. DAVE |
187.069 |
|
STATE BANK OF
INDIA |
SAMB, MUMBAI. |
30.09.12 |
AIMCO PESTICIDES
LIMITED |
ASIF P. DAVE, Bharat
Hariharbhai Pandya, SAMIR P. DAVE, PRADEEP P. DAVE, E.P. Shrivastava, Kaja
Ramgopal |
187.069 |
|
STATE BANK OF
INDIA |
SAMB, MUMBAI. |
31.12.12 |
AIMCO PESTICIDES
LIMITED |
PRADEEP P. DAVE,
E.P. Shrivastava, Kaja Ramgopal, ASIF P. DAVE, SAMIR P. DAVE, Bharat
Hariharbhai Pandya |
187.069 |
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
|
Name : |
Mrs. Priya Surati |
|
Designation : |
Finance Head |
|
Contact No.: |
91-22-67604000 |
LOCATIONS
|
Registered Office : |
B-1/1, MIDC Industrial Area, Awashi Khed, Lote Parshuram – 415707,
Maharashtra, India |
|
Tel. No.: |
91-2352-272136/37/38 |
|
Fax No.: |
91-2352-272138 |
|
E-Mail : |
|
|
Website : |
http://www.aimcopesticides.com
|
|
|
|
|
Head Office : |
Akhand Jyoti, 8th Road, Santacruz (East), Mumbai -400055, Maharashtra,
India |
|
Tel. No.: |
91-22-67604000 |
|
Fax No.: |
91-22-67604060/ 67604070 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Lote Parshuram, Village Awashi, Taluka Khed, District Ratnagiri,
Maharashtra, India |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Pradeep Dave |
|
Designation : |
Chairman and Executive Director |
|
|
|
|
Name : |
Mrs. Elizabeth Shrivastava |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Ramgopal Kaja |
|
Designation : |
Non-Executive Director |
|
|
|
|
Name : |
Mr. Ashit P. Dave |
|
Designation : |
Executive Director |
|
Date of Birth/Age : |
06.01.1971 |
|
Qualification : |
B.Com, IIM |
|
Date of Appointment : |
20.08.1996 |
|
|
|
|
Name : |
Dr. Samir P. Dave |
|
Designation : |
Executive Director |
|
Date of Birth/Age : |
15.01.1967 |
|
Qualification : |
Ph. D in Organic Chemistry (University of Mumbai) |
|
Date of Appointment : |
30.05.1995 |
KEY EXECUTIVES
|
Name : |
Mrs. Priya Surati |
|
Designation : |
Finance Head |
SHAREHOLDING PATTERN
AS ON 30.06.2015
|
Category of
Shareholder |
No. of Shares |
% of Holdings |
|
(A) Shareholding
of Promoter and Promoter Group |
||
|
|
|
|
|
|
1456195 |
15.77 |
|
|
3418045 |
37.01 |
|
|
4874240 |
52.77 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
4874240 |
52.77 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
3000 |
0.03 |
|
|
100 |
0.00 |
|
|
3600 |
0.04 |
|
|
6700 |
0.07 |
|
|
|
|
|
|
192816 |
2.09 |
|
|
|
|
|
|
3007489 |
32.56 |
|
|
1003633 |
10.87 |
|
|
151635 |
1.64 |
|
|
102151 |
1.11 |
|
|
20901 |
0.23 |
|
|
24348 |
0.26 |
|
|
1000 |
0.01 |
|
|
3235 |
0.04 |
|
|
4355573 |
47.16 |
|
Total Public
shareholding (B) |
4362273 |
47.23 |
|
Total (A)+(B) |
9236513 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
9236513 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
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Products : |
Not Divulged |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Raw Material |
|
Countries : |
China |
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|
|
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Terms : |
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|
Selling : |
Cash and Credit (30/60/90 days) |
|
|
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Purchasing : |
Cash and Credit (30/60/90 days) |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged
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Customers : |
Not Divulged
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No. of Employees : |
500 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
NOTE LONG
TERM BORROWING i) Vehicle loan is secured by hypothecation of specified vehicle. The loan is repayable in 35 monthly installments starting from 01/03/14 and last installment falling due on 01/01/17. ii) Other loan is secured by first pari passu charge and
second charge on the fixed assets of the Company and first charge on Hyderabad
property. SHORT
TERM BORROWINGS Loan from a company is secured by a first mortgage on all
the Company's immoveable properties both present and future, located at Lote
Parshuram and first charge by way of hypothecation of all the Company's
movables (save and except book debts) including moveable machinery, machinery
spares, tools and accessories, both present and future. |
|
Auditors : |
|
|
Name : |
CNK and Associates LLP Chartered Accountants |
|
Address : |
5th Floor, Narain Chambers, M. G. Road, Vile Parle (East),
Mumbai- 400 057, Maharashtra, India |
|
|
|
|
Memberships : |
-- |
|
|
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|
Collaborators : |
-- |
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|
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Parties where control exist: Wholly owned subsidiaries of the Company
: |
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|
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|
|
Companies/ Firms in which the directors' have substantial interest
(i.e. more than 20% in voting power directly or indirectly) : |
|
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 92.365
Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9236513 |
Equity Shares |
Rs.10/- each |
Rs. 92.365
Million |
|
|
|
|
|
Terms/rights attached
to equity shares
i) The Company has only one class of share referred to as equity shares having a par value of Rs. 10. Each holder of equity share is entitled to one vote per share.
ii) The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of directors is subject to the approval of the shareholders in the Annual General Meeting.
iii) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amount. The distribution will be proportionate to the number of equity shares held by the shareholders.
iv) There is no change in issued and paid up share capital during the year.
v) Details of shareholder holding more than 5% shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Excel Crop Care Limited |
2330120 |
25.23% |
|
Pradeep P Dave |
588634 |
6.37% |
|
Aimco Investment Private Limited |
546345 |
5.92% |
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 |
92.365 |
92.365 |
92.365 |
|
(b) Reserves & Surplus |
(55.263) |
(86.149) |
(90.216) |
|
(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) |
37.102 |
6.216 |
2.149 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.201 |
0.222 |
18.716 |
|
(b) Deferred tax liabilities (Net) |
3.214 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
1.543 |
1.597 |
1.533 |
|
(d) long-term
provisions |
8.554 |
10.968 |
6.522 |
|
Total Non-current
Liabilities (3) |
13.512 |
12.787 |
26.771 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.300 |
9.486 |
|
(b) Trade
payables |
410.226 |
406.475 |
264.694 |
|
(c) Other
current liabilities |
40.642 |
199.363 |
165.614 |
|
(d) Short-term provisions |
25.875 |
12.553 |
11.272 |
|
Total Current
Liabilities (4) |
476.743 |
618.691 |
451.066 |
|
|
|
|
|
|
TOTAL |
527.357 |
637.694 |
479.986 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
47.765 |
44.990 |
41.587 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.997 |
0.997 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.428 |
14.251 |
|
(d) Long-term Loan and Advances |
20.625 |
14.082 |
10.766 |
|
(e) Other
Non-current assets |
0.917 |
0.917 |
33.087 |
|
Total Non-Current
Assets |
70.304 |
61.414 |
99.691 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
152.813 |
112.986 |
|
(b)
Inventories |
97.207 |
348.836 |
209.923 |
|
(c) Trade
receivables |
321.500 |
16.146 |
9.457 |
|
(d) Cash
and cash equivalents |
14.047 |
27.533 |
20.320 |
|
(e)
Short-term loans and advances |
7.566 |
30.952 |
27.609 |
|
(f) Other
current assets |
16.733 |
0.000 |
0.000 |
|
Total
Current Assets |
457.053 |
576.280 |
380.295 |
|
|
|
|
|
|
TOTAL |
527.357 |
637.694 |
479.986 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1649.160 |
1405.025 |
457.492 |
|
|
|
Other Income |
0.258 |
3.833 |
4.917 |
|
|
|
TOTAL |
1649.418 |
1408.858 |
462.409 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
782.090 |
635.421 |
277.997 |
|
|
|
Purchases of Stock-in-Trade |
566.258 |
580.678 |
53.530 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
49.620 |
(24.978) |
100.490 |
|
|
|
Employees benefits expense |
33.332 |
27.385 |
11.745 |
|
|
|
Other expenses |
174.467 |
161.717 |
180.272 |
|
|
|
Exceptional Items |
0.000 |
0.000 |
(229.548) |
|
|
|
TOTAL |
1605.767 |
1380.223 |
394.486 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
43.651 |
28.635 |
67.923 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
3.001 |
7.229 |
1.452 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
40.650 |
21.406 |
66.471 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.122 |
3.516 |
1.722 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
34.528 |
17.890 |
64.749 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.642 |
13.823 |
(14.251) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
30.886 |
4.067 |
79.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
596.508 |
167.615 |
|
|
TOTAL EARNINGS |
NA |
596.508 |
167.615 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
394.194 |
82.530 |
|
|
TOTAL IMPORTS |
NA |
394.194 |
82.530 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
0.44 |
8.55 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
0.440 |
62.500 |
|
Cash generated from operations |
NA |
126.556 |
(99.721) |
|
Net cash flow from (used in) operation |
NA |
108.582 |
(86.629) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.29 |
17.27 |
-4.35 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
2.04 |
14.85 |
0.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.81 |
13.90 |
-6.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
2.88 |
30.13 |
0.72 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
30.18 |
42.21 |
-0.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.93 |
0.84 |
0.68 |
STOCK
PRICES
|
Face Value |
Rs. 10.00/- |
|
Market Value |
Rs. 44.66/- |
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 |
92.365 |
92.365 |
92.365 |
|
Reserves & Surplus |
(90.216) |
(86.149) |
(55.263) |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2.149 |
6.216 |
37.102 |
|
|
|
|
|
|
long-term borrowings |
18.716 |
0.222 |
0.201 |
|
Short term borrowings |
9.486 |
0.300 |
0.000 |
|
Current Maturities of Long
Term Debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
28.202 |
0.522 |
0.201 |
|
Debt/Equity
ratio |
13.123 |
0.084 |
0.005 |
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 |
457.492 |
1405.025 |
1649.160 |
|
|
|
207.115 |
17.376 |
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 |
457.492 |
1405.025 |
1649.160 |
|
Profit |
79.000 |
4.067 |
30.886 |
|
|
17.27% |
0.29% |
1.87% |
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 |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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 |
No |
|
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
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay |
|||||||
|
Lodging No. : |
CPL/816/2014 |
Failing Date:- |
10.11.2014 |
Reg. No.:- |
CP/206/2015 |
Reg. Date:- |
05.03.2015 |
|
Loading No.:- |
|
||||||
|
|
|||||||
|
Petitioner:- |
DEV ENTERPRISES |
Respondent:- |
AIMCO PESTICIDES LIMITED |
||||
|
Petitioner Adv :- |
SUGANDH B. DESHMUKH (550) |
Resp. Adv.:- |
DEVEN DWARKADAS (I3561) |
||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
SINGLE |
Category:- |
COMPANY PETITION U/SEC 433,434,439 COMPANIES ACT |
||||
|
Status:- |
Pre-Admission |
Stage :- |
FOR ADMISSION – FRESH [ORIGINAL SIDE MATTERS] |
||||
|
Coram:- |
HON’BLE SHRI JUSTICE S.J. KATHAWALLA |
||||||
|
Last Date:- |
08.06.2015 |
Stage :- FOR ACCEPTANCE |
|||||
|
Last Coram :- |
HON’BLE SHRI JUSTICE S.J. KATHAWALLA |
||||||
|
Act. : |
Companies act and rules 1956 Under
Section :- 433 434 |
||||||
UNSECURED LOAN
|
Unsecured Loan |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Deposits |
NA |
0.000 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Loan from a related party |
NA |
0.000 |
|
Deposits |
NA |
0.300 |
|
Total |
NA |
0.300 |
|
|
|
|
|
NOTE LONG
TERM BORROWING Fixed Deposits from
public and shareholders carry interest @ 11% p.a. and are repayable after 2
and 3 years from the date of deposit. |
||
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90218248 |
07/12/2009 * |
50,000,000.00 |
ABHIGAM CONSULTANTS PVT LTD |
1ST FLOOR, ABS TOWER,OLD PADRA ROAD, BARODA, Gujarat - 390015, INDIA |
A77756351 |
|
2 |
90218247 |
14/04/1999 |
50,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
IDBI TOWER; WTC COMPLEX, COLABA, MUMBAI, Maharashtra - 400005, INDIA |
- |
|
3 |
90219968 |
02/08/1993 * |
9,870,000.00 |
THE STATE INDUSTRIAL
& INVESTMENT CORP. OF MAHARAS |
NIRMAL; FIRST FLOOR, NARIMAN POINT, BOMBAY, Maharashtra - 400021, INDIA |
- |
|
4 |
90217642 |
24/03/1999 * |
250,000,000.00 |
ICICI LIMITED |
163, BACKBAY RECLAMATION, MUMBAI, Maharashtra - 400020, INDIA |
- |
|
5 |
90217639 |
04/01/1993 |
25,000,000.00 |
THE INDUSTRIAL
CRDIT AND INVESTMENT CORPORATION OF |
163, BACKBAY RECLAMATION, BOMBAY, Maharashtra - 400020, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Furniture and
Fixture
- Vehicles
- Office
Equipments
- Computer
Equipments
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 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. 64.92 |
|
UK Pound |
1 |
Rs. 101.44 |
|
Euro |
1 |
Rs. 72.26 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
16 |
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.