MIRA
INFORM REPORT
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Report No. : |
338593 |
|
Report Date : |
27.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
ASSOCIATE DECOR LIMITED (w.e.f. 03.08.2011) |
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Formerly Known
As : |
STAR PANEL BOARDS LIMITED |
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Registered
Office : |
Plot No. 1, Phase 4, KIADB Industrial Area, Malur, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
17.01.2007 |
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Com. Reg. No.: |
08-041502 |
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Capital
Investment / Paid-up Capital : |
Rs. 515.100 Million |
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CIN No.: [Company Identification
No.] |
U20213KA2007PLC041502 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS29101C |
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PAN No.: [Permanent Account No.] |
AAKCS5136Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing of Particle Board both Plain and Laminated
Particle Boards and Laminates. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (13) |
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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 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Exist |
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Comments : |
Subject is an established company incorporated during the year 2007
having a moderate track record. Management of the company has not filed its financial with the
government department for the year 2014. As per available financial of 2013, the company has incurred some
accumulated losses Further, the rating also takes into consideration delays by the company
in servicing its debt and huge borrowings recorded by the company which
further act as a threat to the liquidity position of the company Mr. Channaraju (Accounts Manager) denied to provide any information
about the company As per registrar of companies the status of the company is shown as
active. Payment terms are unknown. The company can be considered for business dealings on a 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan: “D” |
|
Rating Explanation |
Lowest credit quality and very low prospects
of recovery. |
|
Date |
September, 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 DENIED BY
|
Name : |
Mr. Channaraju |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-8151-305037 |
|
Date: |
26.08.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. 1, Phase 4, Kiadb Industrial Area, Malur, Bangalore – 563160,
Karnataka, India |
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Tel. No. : |
91-8151-305037 |
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Fax No. : |
91-8151-305040 |
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E-Mail : |
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Website : |
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Corporate Office : |
Associate House 15, Hill Road, Bandra (West), Mumbai - 400050,
Maharashtra, India |
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Tel. No.: |
91-22-26456661/ 66217777 |
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Fax No.: |
91-22-26456662/ 66217799 |
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E-Mail : |
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Branch Office : |
Located at · Bangalore Chennai Hyderabad Cochin New Delhi Pune Nagpur |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Farooq Ali Khan |
|
Designation : |
Managing director |
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Address : |
No. 21, Benson A Cross Road, Benson Town Post, Bangalore - 560046,
Karnataka, India |
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Date of Birth/ Age : |
10.05.1967 |
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Qualification : |
B. E. in Mechanical Engineering |
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Date of Appointment : |
01.04.2011 |
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DIN No.: |
01087814 |
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Name : |
Mr. Manoharlal Satramdas Agicha |
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Designation : |
Director |
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Address : |
The Agicha’s, 6 Master Vinayak Road, Bandra (West), Mumbai – 400050, Maharashtra,
India |
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Date of Birth/ Age : |
21.04.1945 |
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Date of Appointment : |
19.02.2007 |
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DIN No.: |
00364700 |
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Name : |
Mr. Mohamad Farouk Suleman Darvesh |
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Designation : |
Director |
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Address : |
Hoor Manzil, 7, Perry Cross Road, Bandra (West), Mumbai – 400050,
Maharashtra, India |
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Date of Birth/ Age : |
20.11.1952 |
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Qualification : |
B. Com |
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Date of Appointment : |
17.01.2007 |
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PAN No.: |
ADTPD5969P |
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DIN No.: |
00364297 |
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Name : |
Mr. Srichand Satramdas Agicha |
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Designation : |
Director |
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Address : |
The Agicha’s, 6 Master Vinayak Road, Bandra (West), Mumbai – 400050,
Maharashtra, India |
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Date of Birth/ Age : |
22.02.1951 |
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Date of Appointment : |
19.02.2007 |
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PAN No.: |
ADHPA3448G |
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DIN No.: |
00364370 |
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Name : |
Mr. Ebrahim Suleman Darvesh |
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Designation : |
Director |
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Address : |
Hoor Manzil, 7, Perry Cross Road, Bandra (West), Mumbai – 400050,
Maharashtra, India |
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Date of Birth/ Age : |
31.03.1957 |
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Qualification : |
B. Com |
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Date of Appointment : |
17.01.2007 |
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DIN No.: |
00364630 |
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Name : |
Mr. Nooruddin Khan |
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Designation : |
Director |
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Address : |
No.
316, 5th Cross,
1st Block, R.T. Nagar, Bangalore - 560032 Karnataka, India |
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Date of Birth/ Age : |
07.01.1963 |
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Qualification : |
B. Com |
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Date of Appointment : |
17.01.2007 |
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PAN No.: |
AHOPK0851C |
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DIN No.: |
01087889 |
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Name : |
Mr. Ashok Sunderdas Agicha |
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Designation : |
Director |
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Address : |
The Agicha’s, 6 Master Vinayak Road, Bandra (West), Mumbai – 400050,
Maharashtra, India |
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Date of Birth/ Age : |
11.15.1954 |
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Qualification : |
B. Com |
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Date of Appointment : |
19.02.2007 |
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DIN No.: |
01238363 |
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Name : |
Mr. Himayath Ali Khan |
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Designation : |
Director |
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Address : |
No.
393, 2nd Main
Road, 1st Block,
R.T. Nagar, Bangalore - 560032 Karnataka, India |
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Date of Birth/ Age : |
04.12.1965 |
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Qualification : |
B. Com |
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Date of Appointment : |
17.01.2007 |
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DIN No.: |
01087959 |
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Name : |
Mr. Yahya Darvesh Mohamed Farouk |
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Designation : |
Director |
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Address : |
Hoor Manzil, 7 Perry Cross Road, Bandra (West), Mumbai - 400050,
Maharashtra, India |
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Date of Birth/Age : |
11.20.1981 |
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Qualification : |
Bachelor of Science in Business and Administration |
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Date of Appointment : |
25.09.2009 |
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DIN No.: |
02053549 |
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Name : |
Mr. Siddharrth Srichand Agicha |
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Designation : |
Director |
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Address : |
The Agicha’s, 6 Master Vinayak Road, Bandra (West), Mumbai – 400050,
Maharashtra, India |
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Date of Birth/Age : |
11.04.1982 |
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Qualification : |
B. Com |
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Date of Appointment : |
25.09.2009 |
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DIN No.: |
00481804 |
KEY EXECUTIVES
|
Name : |
Mr. Channaraju |
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Designation : |
Accounts Manager |
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Name : |
Kavita Ramesh Rathi |
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Designation : |
Secretary |
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Address : |
A-202, Prajakta Apartment, TPS Road, Borivali (West), Mumbai – 400092,
Maharashtra, India |
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Date of Birth/Age : |
12.09.1984 |
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Date of Appointment : |
04.09.2013 |
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PAN No. : |
AJQPR7863R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
51.47 |
|
Directors or relatives of Directors |
48.53 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Particle Board both Plain and Laminated
Particle Boards and Laminates. |
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Products : |
Particle Board, Laminates |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS:
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
· Godrej Interio Zuari Furniture Kurl-on Ergo Featherlite |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B. K. Ramadhyani and Company Chartered Accountants |
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Address : |
4-B, Chirtapur Bhavan No 68,8Th Main, 15Th Cross Malleswaram, Bangalore, Karnataka, India |
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Income-tax
PAN of auditor or auditor's firm : |
AABFB1153G |
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Holding Company: |
Associate Holdings Private Limited, India CIN No.: U65990MH1994PTC079715 |
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Associate in which
key management personnel are interested : |
· Kings Wood Suppliers Kings Transport Associate Lumbers Private Limited CIN No.: U20101MH1986PTC039719 Tamilnadu wood suppliers
Mohd. FSD and Others (Trust) |
CAPITAL STRUCTURE
As on30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
52000000 |
Equity Shares |
Rs.10/- each |
Rs.520.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51510000 |
Equity Shares |
Rs.10/- each
|
Rs.515.100
Million |
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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 |
515.100 |
515.100 |
515.100 |
|
(b) Reserves & Surplus |
(99.729) |
(20.495) |
(0.587) |
|
(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) |
415.371 |
494.605 |
514.513 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2243.491 |
2227.657 |
1259.527 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
1399.537 |
1317.481 |
1102.550 |
|
(d) long-term provisions |
2.629 |
0.697 |
0.402 |
|
Total Non-current Liabilities (3) |
3645.657 |
3545.835 |
2362.479 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
621.373 |
92.941 |
0.000 |
|
(b) Trade payables |
345.494 |
63.538 |
1.438 |
|
(c) Other current
liabilities |
528.743 |
284.497 |
102.857 |
|
(d) Short-term provisions |
0.410 |
0.073 |
0.052 |
|
Total Current Liabilities (4) |
1496.020 |
441.049 |
104.347 |
|
|
|
|
|
|
TOTAL |
5557.048 |
4481.489 |
2981.339 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4515.439 |
313.645 |
280.061 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
13.443 |
3800.196 |
2476.232 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
57.675 |
61.020 |
80.868 |
|
(e) Other Non-current assets |
9.994 |
2.118 |
2.514 |
|
Total Non-Current Assets |
4596.551 |
4176.979 |
2839.675 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
438.914 |
72.133 |
0.000 |
|
(c) Trade receivables |
269.240 |
0.000 |
0.026 |
|
(d) Cash and cash
equivalents |
107.246 |
97.917 |
80.784 |
|
(e) Short-term loans and
advances |
142.816 |
126.768 |
60.162 |
|
(f) Other current assets |
2.281 |
7.692 |
0.692 |
|
Total Current Assets |
960.497 |
304.510 |
141.664 |
|
|
|
|
|
|
TOTAL |
5557.048 |
4481.489 |
2981.339 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1415.690 |
0.000 |
0.960 |
|
|
|
Other Income |
8.622 |
6.777 |
3.420 |
|
|
|
TOTAL (A) |
1424.312 |
6.777 |
4.380 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
841.581 |
0.000 |
0.000 |
|
|
|
Purchases of Stock-in-Trade |
6.218 |
0.000 |
0.877 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(188.134) |
0.000 |
0.010 |
|
|
|
Employees benefits expense |
115.756 |
8.016 |
1.973 |
|
|
|
Other expenses |
295.107 |
14.532 |
0.855 |
|
|
|
TOTAL (B) |
1070.528 |
22.548 |
3.715 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
353.784 |
(15.771) |
0.665 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
241.611 |
0.843 |
0.094 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
112.173 |
(16.614) |
0.571 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
191.407 |
3.294 |
1.599 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(79.234) |
(19.908) |
(1.028) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
(0.169) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(79.234) |
(19.908) |
(0.859) |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
(1.54) |
(0.39) |
(0.02) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long term debt |
373.428 |
82.476 |
0.689 |
|
Cash generated from operations |
N.A |
N.A |
N.A |
|
Net cash flow from operating activity |
N.A |
(31.894) |
83.066 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(5.60) |
0.00 |
(89.48) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
24.99 |
0.00 |
69.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.43) |
(2.92) |
(0.20) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.19) |
(0.04) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
7.80 |
4.86 |
2.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.64 |
0.69 |
1.36 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
515.100 |
515.100 |
515.100 |
|
Reserves & Surplus |
-0.587 |
-20.495 |
-99.729 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
514.513 |
494.605 |
415.371 |
|
|
|
|
|
|
long-term borrowings |
1259.527 |
2227.657 |
2243.491 |
|
Short term borrowings |
0.000 |
92.941 |
621.373 |
|
Current Maturities Of
Long-Term Debts |
0.689 |
82.476 |
373.428 |
|
Total
borrowings |
1260.216 |
2403.074 |
3238.292 |
|
Debt/Equity
ratio |
2.449 |
4.859 |
7.796 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
0.960 |
0.000 |
1415.690 |
|
|
|
-100.000 |
|
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
0.960 |
0.000 |
1415.690 |
|
Profit/ (Loss) |
(0.859) |
(19.908) |
(79.234) |
|
|
(89.48%) |
|
(5.60%) |
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) |
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 |
No |
|
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 |
No |
|
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
CASE PENDING
|
HIGH COURT OF
KARNATAKA -BANGALORE BENCH |
COP 208/2013 |
|
M/S CONSOLIDATED CONSTRUCTION |
RESPONDENT/DEFNT. NAME |
M/S ASSOCIATE DECOR LIMITED |
|||
|
PETNR./APPNT. ADVOCATE |
MAHESH K V |
RESPNT./DEFNT. ADVOCATE |
VIVEK HOLLA FOR |
||
|
DATE FILED |
01/10/2013 |
CLASSIFICATION |
|
DISTRICT |
BANGALORE CITY |
|
STAGE |
PENDING FOR ADMISSON |
LAST POSTED FOR |
ADMISSION |
||
|
LAST ACTION TAKEN |
ADJOURNED |
LAST DATE OF ACTION |
29/04/2015 |
NEXT HEARING DATE |
|
|
LATEST ORDER |
LIST AFTER VACATION |
||||
|
BEFORE HON'BLE JUDGE/S |
A.S.BOPANNA |
||||
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10449167 |
01/08/2013 |
3,278,025.00 |
CORPROATION BANK |
BANDRA
BRANCH,BAITUL SARAF,105, HILL ROAD,BANDRA |
B85056984 |
|
2 |
10439198 |
15/06/2013 |
4,500,000.00 |
CORPROATION BANK |
BANDRA
BRANCH,BAITUL SARAF,105, HILL ROAD,BANDRA |
B80502941 |
|
3 |
10419401 |
22/02/2013 |
2,900,254.00 |
CORPORATION BANK |
BANDRA
BRANCH,BAITUL SARAF,105, HILL ROAD,BANDRA |
B73080293 |
|
4 |
10349378 |
13/04/2012 |
188,000,000.00 |
CORPORATION BANK |
BHARAT HOUSE,
GROUNG FLOOR, 104 M.S. MARG, FORT, |
B37482825 |
|
5 |
10335521 |
06/01/2012 |
15,000,000.00 |
CORPORATION BANK |
BANDRA BRANCH,
BAITUL SARAF,105, HILL ROAD,BANDRA |
B32109928 |
|
6 |
10307939 |
11/08/2011 |
716,000,000.00 |
CORPORATION BANK |
BHARAT HOUSE, GROUND FLOOR, 104, M. S. MARG, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B21331384 |
|
7 |
10206372 |
10/07/2014 * |
5,828,500,000.00 |
CORPORATION BANK |
BHARAT HOUSE NO. 104,GROUND FLOOR, MUMBAI SAMACHAR MARG, MUMBAI, MAHARASHTRA - 400023, INDIA |
C14339907 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Million) |
31.03.2012 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from directors |
272.639 |
212.639 |
|
Total |
272.639 |
212.639 |
CHANGE OF ADDRESS:
The registered office of the company has been shifted from No. 400, 1st
Floor, 1st Block, 2nd Main Road, R.T. Nagar,
Bangalore-560032, Karnataka, India to the present address w.e.f. 01.03.2014
BACKGROUND:
The Company was incorporated in 2007 in the name and style of Star Panel Boards Limited for manufacturing of Particle Board both Plain and Laminated Particle Boards and laminates. The company has set up the plant at Malur near Bangalore, which is started its commercial production during June 2012 in respect of particle Boards & Oct 2012 for Laminates
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Million) |
31.03.2012 (Rs.
In Million) |
|
i. Counter-Guarantee given by Banks for Bank Guarantees established |
|
|
|
- For Import of Capital Goods |
344.044 |
339.952 |
|
- For Bonded Warehouse |
6.000 |
3.000 |
|
ii. Letter of Credit established against the vendors for supply of capital goods for which material not received |
0.000 |
0.000 |
|
iii. Letter of Credit established against the vendors for supply of Raw Material for which material not received |
115.934 |
34.466 |
FIXED ASSETS
Tangible Assets
· Land
Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Office
Equipment
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,
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.66.16 |
|
|
1 |
Rs.103.87 |
|
Euro |
1 |
Rs.75.88 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
- |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
13 |
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.