MIRA INFORM REPORT

 

 

Report No. :

356898

Report Date :

23.12.2015

 

IDENTIFICATION DETAILS

 

Name :

MAINETTI (INDIA) PRIVATE LIMITED

 

 

Registered Office :

No.138/30, 3rd Floor, Florida Towers, Nelson Manickam Road, Chennai – 600029, Tamilnadu

Tel. No.:

91-44-42919000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

02.06.1997

 

 

Com. Reg. No.:

18-038312

 

 

Capital Investment / Paid-up Capital :

Rs.126.075 Million

 

 

CIN No.:

[Company Identification No.]

U25209TN1997PTC038312

 

 

IEC No.:

0497018080

 

 

TIN No.:

33041441926

 

 

CST No.:

798465

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CHEM02312C

 

 

PAN No.:

[Permanent Account No.]

AAACM6894M

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is specializes in designing and manufacturing of garment hangers. (Registered Activity)

 

 

No. of Employees :

375 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (50)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 1450000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a wholly owned subsidiary of Mainetti Holding BV, Netherlands. It was incorporated in the year 1997 and it is engaged in manufacturing and exporting of garment hangers. It is an established company having satisfactory track record.

 

Management of the subject has failed to file its latest financials with government department for the year 2015.

 

However, as per 2014 financial, the company has reported growth in its total revenue by 23% as compared to its previous year which further resulted to rise in net profit of the company.

 

Rating also considers company’s sound financial risk profile with good capital structure backed by its healthy networth base, comfortable liquidity position and strong debt protection metrics.

 

Trade relations are fair. Business is active. Payments reported to be usually correct.

 

In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions.

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – 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

 

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 31-03-2015.

 

INFORMATION PARTED BY

 

Name :

Mr. Sarvanand

Designation :

Senior Manager in Finance

Contact No.:

91-44-42919000

Date :

22.12.2015

 

 

LOCATIONS

 

Registered Office :

No.138/30, 3rd Floor, Florida Towers, Nelson Manickam Road, Chennai – 600029, Tamilnadu, India

Tel. No.:

91-44-42919000

Fax No.:

91-44 42919001

E-Mail :

info.india@mainetti.com

sarvanand.subramanian@mainetti.com

Website :

www.mainetti.com

Location : 

Rented

Locality :

Commercial

 

 

Factory 1 :

B-11 A, 2nd Main Road, Phase II, MEPZ/SEZ, Tambaram, Chennai – 600045, Tamilnadu, India

Tel. No.:

91-44-22620500

Fax No.:

91-44-22620503

 

 

Factory 2 :

Plot E-13, 1st Cross Road, SIPCOT Industrial Park, Sriperumbudur, Kanchipuram – 602105, Tamilnadu, India

Tel. No.:

91-44-47104900

Fax No.:

91-44-47104901

 

 

Marketing Offices :

Located At :

 

  • Gurgaon
  • Mumbai
  • Tirupur
  • Bangalore

 

 

Branch Office :

104 - F Block, Ground Floor, Sushant Shopping Arcade, Sushant Lok Phase – 1, Gurgaon – 122009, Haryana, India

Tel. No.:

91-124-4714500

Fax No.:

91-124-4050968

E-Mail :

delhi.india@mainetti.com

 

 

DIRECTORS

 

As on 31.03.2015

 

Name :

Mr. Sridharan Balaji

Designation :

Director

Address :

99, 2nd Main Road, North Jagannatha Nagar, Villivakkam, Chennai - 600049, Tamilnadu, India

Date of Birth/Age :

24.08.1974

Date of Appointment :

28.11.2007

DIN No.:

00106642

Other Directorship :

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U25209TN1997PTC038312

MAINETTI (INDIA) PRIVATE LIMITED

Director

28/11/2007

13/08/2004

-

Active

NO

2

U74900TN2013PTC091488

TECHSTAR PACKAGING (INDIA) PRIVATE LIMITED

Director

04/06/2013

04/06/2013

-

Active

NO

3

U74120MH2013PTC244477

XANIA TRADING PRIVATE LIMITED

Director

22/06/2013

22/06/2013

-

Active

NO

 

 

Name :

Mr. Vaidya Balakrishnan

Designation :

Director

Address :

4 Rocky Hill Road, Princeton, 08540, United States of America

Date of Birth/Age :

02.07.1950

Date of Appointment :

27.09.2010

DIN No.:

00983352

Other Directorship :

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U45309TN2005PTC058201

METECNO (INDIA) PRIVATE LIMITED

Director

19/10/2006

19/10/2006

19/10/2011

Active

NO

2

U25209TN1997PTC038312

MAINETTI (INDIA) PRIVATE LIMITED

Director

27/09/2010

01/10/2009

-

Active

NO

 

 

Name :

Mr. Paras Chandaria

Designation :

Director

Address :

No.5, Shenton Way, Uic Building # 27-01, Singapore, 0688080, Singapore

Date of Birth/Age :

06.04.1972

Date of Appointment :

30.09.2003

DIN No.:

01003786

Other Directorship :

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U25209TN1997PTC038312

MAINETTI (INDIA) PRIVATE LIMITED

Director

30/09/2003

30/09/2003

-

Active

NO

2

U45309TN2005PTC058201

METECNO (INDIA) PRIVATE LIMITED

Director

07/12/2005

07/12/2005

14/12/2012

Active

NO

3

U92490MH2010PTC198323

imagiNation Edutainment India Private Limited

Director

06/01/2010

06/01/2010

-

Active

NO

 

 

Name :

Mr. Sundeep Chauhan

Designation :

Director

Address :

No.1541, J Block, 16th Main Road, 13th Street, Anna Nagar West, Chennai - 600040, Tamilnadu, India

Date of Birth/Age :

03.06.1975

Date of Appointment :

27.09.2010

DIN No.:

03146460

Other Directorship :

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U25209TN1997PTC038312

MAINETTI (INDIA) PRIVATE LIMITED

Director

27/09/2010

06/07/2010

-

Active

NO

2

U74900TN2013PTC091488

TECHSTAR PACKAGING (INDIA) PRIVATE LIMITED

Director

04/06/2013

04/06/2013

-

Active

NO

 

 

Name :

Mr. Gnanasekar Gopalraja

Designation :

Alternate Director

Address :

B94, 7th Street, Periyar Nagar, Chennai - 600082, Tamilnadu, India

Date of Birth/Age :

22.03.1972

Date of Appointment :

22.12.2010

DIN No.:

03358708

 

 

Name :

Mr. Jeyam Emanuel Ayam Perumal

Designation :

Additional Director

Address :

No.11 B Barnes Place, Colombo, 07, Sri Lanka

Date of Appointment :

26.05.2015

DIN No.:

07194300

 

 

KEY EXECUTIVES

 

Name :

Mr. Sarvanand

Designation :

Senior Manager in Finance

 

 

MAJOR SHAREHOLDERS

 

As on 30.09.2014

 

Names of Shareholders

 

No. of Shares

Mainetti Holding BV, Netherland

 

12607444

Mauna N V, Grasbeemd

 

50

Total

 

12607494

 

As on 30.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is specializes in designing and manufacturing of garment hangers. (Registered Activity)

 

 

Products :

Product Description

Item Code No. (ITC Code)

Hangers

44211000

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • Sri Lanka
  • Bangladesh
  • Vietnam
  • Korea
  • Hong Kong
  • China
  • Dubai
  • United States of America
  • Turkey
  • Italy

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Singapore
  • China
  • Hong Kong
  • Bangladesh
  • Sri Lanka
  • Vietnam
  • Malaysia

 

 

Terms :

 

Selling :

Cheque and Credit (30 / 60 Days)

 

 

Purchasing :

Cheque and Credit (30 / 60 Days)

 

PRODUCTION STATUS = NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Wholesalers, Retailers, End Users and OEMs

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

375 (Approximately)

 

 

Bankers :

Banker Name

HDFC Bank Limited

Branch Address

HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

  • The Hong Kong and Shanghai Banking Corporation Limited, No 30, Rajaji Salai, Opposite to Beach Station, Chennai - 600001, Tamilnadu, India

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

Term loans from banks

93.012

54.920

Loans repayable on demand

0.000

33.006

Total

 93.012

87.926

 

Auditors :

 

Name :

S.V. Ghatalia and Associates LLP

Chartered Accountants

Address :

6th and 7th Floor, A Block Tidel Park, (Module 601, 701 and 702), No. 04 Rajiv Gandhi Salai, Taramani, Chennai – 600113, Tamilnadu, India

PAN No.:

AACFS6921Q

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company (As on 31.03.2014) :

Mainetti Holding BV, Netherlands

 

 

Fellow Subsidiary Companies (As on 31.03.2014) :
  • Mainetti (Bangladesh) Private Limited, Bangladesh
  • Suzhou Mainetti Plastic Products Limited, Jamaica
  • Mainetti BV, Netherlands
  • Mainetti HK Limited, Hong Kong
  • Mainetti SPA, Singapore
  • Mainettech Lanka Private Limited, Sri Lanka
  • Mainetti UK Limited, United Kingdom
  • Mainetti Vietnam Company Limited, Viet Nam
  • Mainetti USA INC, United States
  • Mainetti Aski San Tic AS, Singapore
  • Mainetti Korea Co. Limited, Republic of Korea
  • Mainetti Singapore Pte Limited, Singapore
  • Mainetti GMBH, Germany
  • Mainetti Pakistan Private Limited, Pakistan
  • Mhg Management Services Limited, United States
  • Mainetti Canada Limited , Canada
  • Maineti Romania SRL, Romania

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

15000000

Equity Shares

Rs.10/- each

Rs.150.000 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

12607494

Equity Shares

Rs.10/- each

Rs.126.075 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

126.075

126.075

117.305

(b) Reserves & Surplus

383.028

307.153

277.947

(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)

509.103

433.228

395.252

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

27.444

(b) Deferred tax liabilities (Net)

38.050

42.444

37.916

(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)

38.050

42.444

65.360

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

93.012

87.926

87.701

(b) Trade payables

273.077

227.598

168.518

(c) Other current liabilities

41.310

42.686

69.056

(d) Short-term provisions

7.314

5.836

9.644

Total Current Liabilities (4)

414.713

364.046

334.919

 

 

 

 

TOTAL

961.866

839.718

795.531

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

453.820

443.091

443.904

(ii) Intangible Assets

3.466

4.323

5.153

(iii) Capital work-in-progress

0.379

1.966

0.488

(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

30.215

59.761

46.119

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

487.880

509.141

495.664

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

133.127

165.874

163.893

(c) Trade receivables

168.765

114.651

99.545

(d) Cash and cash equivalents

143.422

17.002

14.546

(e) Short-term loans and advances

27.921

30.427

21.883

(f) Other current assets

0.751

2.623

0.000

Total Current Assets

473.986

330.577

299.867

 

 

 

 

TOTAL

961.866

839.718

795.531

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

 

 

Other Income

 

 

 

 

TOTAL

1517.148

1227.163

1119.654

 

 

 

 

 

 

TOTAL EXPENSES

1308.984

1095.646

1002.208

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

NA

131.517

117.446

 

 

 

 

 

 

FINANCIAL EXPENSES

 NA

6.285

96.619

 

 

 

 

(Depreciation  + Finance Expenses)

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 NA

125.232

 

 

 

 

 

 

DEPRECIATION/ AMORTISATION

74.209

72.786

 

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 NA

52.446

20.827

 

 

 

 

 

 

TAX

 NA

25.202

7.171

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

84.859

27.244

13.656

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

6.73

2.16

1.08

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

1700.000

 

Expected Sales (2015-16): Rs.1850.000 Million

 

The above information has been parted by Mr. Sarvanand (Senior Manager in Finance).

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

0.000

28.638

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

245.873

103.242

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Total Income)

(%)

5.59

2.22

1.22

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
NA

6.26

2.62

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
NA

0.12

0.05

 

 
 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.18

0.20

0.29

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.14

0.91

0.90

 

 

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

117.305

126.075

126.075

Reserves & Surplus

277.947

307.153

383.028

Net worth

395.252

433.228

509.103

 

 

 

 

long-term borrowings

27.444

0.000

0.000

Short term borrowings

87.701

87.926

93.012

Total borrowings

115.145

87.926

93.012

Debt/Equity ratio

0.291

0.203

0.183

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

1119.654

1227.163

1517.148

 

 

9.602

23.631

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

1119.654

1227.163

1517.148

Profit

13.656

27.244

84.859

 

1.22%

2.22%

5.59%

 

 

 

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

No

26

Turnover of firm for last four years

Yes

27

Reasons for variation <> 20%

----------------------

28

Estimation for coming financial year

Yes

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

----------------------

33

Market information

----------------------

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

Note:

The registered address has been shifted from the 58 D, SIDCO Industrial Estate, Ambattur, Chennai – 600098, Tamilnadu, India to the present address w.e.f. 15.05.2006

 

 

BACKGROUND (As on 31.03.2014)

 

Subject was incorporated in India on June 02, 1997. The Company is a wholly owned Subsidiary of Mainetti Holding BV. The Company specializes in designing and manufacturing of garment hangers from its manufacturing units located at Sriperumbudur and Tambaram (SEZ). The Company provides various types of hangers with laminated designs, clips, bars and rubber inlays.

 

 

REVIEW OF OPERATIONS

 

The operations of the company resulted in a net profit of Rs.84.900 Million for the year ended 31.03.2014.

 

 

INDEX OF CHARGES

 

S. NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10525262

22/09/2014

5,000,000.00

THE HONG KONG AND SHANGHAI BANKING CORPORATION LIMITED

NO 30, RAJAJI SALAI, OPPOSITE TO BEACH STATION, CHENNAI - 600001, TAMILNADU, INDIA

C28994143

2

10467288

11/12/2013

95,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL 
WEST, MUMBAI - 400013, MAHARASHTRA, INDIA

B92423169

3

10250841

20/11/2014 *

200,500,000.00

THE HONG KONG AND SHANGHAI BANKING CORPORATION LIMITED

NO. 30, RAJAJI SALAI, CHENNAI - 600001, TAMILNADU, INDIA

C37067303

4

10118838

06/10/2010 *

155,000,000.00

THE HONG KONG AND SHANGHAI BANKING CORPORATION LIMITED

NAGABRAHMA TOWERS, NO. 76, CATHEDRAL ROAD, CHENNAI - 600086, TAMILNADU, INDIA

A97535520

5

10099989

14/04/2008

182,500,000.00

THE HONG KONG AND SHANGHAI BANKING CORPORATION LIMITED

76, CATHEDRAL ROAD, CHENNAI - 600086, TAMILNADU, 
INDIA

A36790723

6

10100031

03/03/2008

100,000,000.00

THE HONG KONG AND SHANGHAI BANKING CORPORATION LIMITED

76, CATHEDRAL ROAD, CHENNAI - 600086, TAMILNADU, 
INDIA

A36926863

7

10083244

10/01/2008

100,000,000.00

THE HONG KONG AND SHANGHAI BANKING CORPORATION LIMITED

76, CATHEDRAL ROAD, CHENNAI - 600086, TAMILNADU, 
INDIA

A30113872

8

10043915

09/03/2007

100,000,000.00

THE HONG KONG AND SHANGHAI BANKING CORPORATION LIMITED

76, CATHEDRAL ROAD, CHENNAI - 600086, TAMILNADU, 
INDIA

A11943263

9

10020603

22/09/2014 *

200,500,000.00

THE HONG KONG AND SHANGHAI BANKING CORPORATION LIMITED

NO. 30, RAJAJI SALAI, CHENNAI - 600001, TAMILNADU, INDIA

C37066743

 

* Date of charge modification

 

 

FIXED 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, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No records 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 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.66.29

UK Pound

1

Rs.98.70

Euro

1

Rs.72.33

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

HNA

 

 

Report Prepared by :

PNM

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY 

1~10

6

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

6

--CREDIT LINES

1~10

5

--MARGINS

-5~5

---

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--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

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

50

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.