MIRA INFORM REPORT
|
Report No. : |
329798 |
|
Report Date : |
04.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
NISHANT ORGANICS PRIVATE LIMITED (w.e.f. 23.06.2015) |
|
|
|
|
Formerly Known
As : |
NISHANT
ENTERPRISES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2, Capriana Apartments, 27, Rajnagar Society, Akota, Vadodara – 390015, Gujarat |
|
Tel. No.: |
91-265-3255023/ 2355472/ 73 |
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|
Country : |
India |
|
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|
|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
30.11.1994 |
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Com. Reg. No.: |
023730 |
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Capital
Investment / Paid-up Capital : |
Rs.6.500 Million |
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CIN No.: [Company Identification
No.] |
U45201GJ1994PTC023730 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Di ethyl phthalate, phenyl ethyl, phenyl ethyl methyl ether, phenyl
ethyl acetate, benzyl acetate, amyl acetate, amyl salicylate, aromatic
chemicals. |
|
|
|
|
No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 330000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Rating takes into consideration company’s sound financial risk profile
marked by strong networth base and low gearing reported by the company. However, profitability of the company is decreasing. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered normal 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
|
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.
INFORMATION PARTED BY
|
Name : |
Mr. Parulbhai Laxmanbhai Patel |
|
Designation : |
Managing director |
|
Contact No.: |
91-9825063377 |
|
Date : |
02.07.2015 |
LOCATIONS
|
Registered Office : |
2, Capriana Apartments, 27, Rajnagar Society, Akota, Vadodara – 390015, Gujarat, India |
|
Tel. No.: |
91-265-3255023/ 2355472/ 73 |
|
Mobile No.: |
91-9825063377 (Mr. Parulbhai Laxmanbhai Patel) 9825028908 (Mr. Tarak Patel) |
|
Fax No.: |
91-265-2355468/ 2351990 |
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E-Mail : |
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Website : |
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Factory : |
R.S. No.40/1, Jayant Desai Marg, Vagdhara Road, Village Dadra, Silvassa, U.T. of Dadra and Nagar Haveli, India |
DIRECTORS
AS ON 26.09.2014
|
Name : |
Mr. Parulbhai Laxmanbhai Patel |
|
Designation : |
Managing Director |
|
Address : |
2, Capriana Apartments, 27, Rajnagar Society, Akota, Vadodara –
390015, Gujarat, India |
|
Date of Birth/Age : |
17.08.1958 |
|
Qualifications : |
B. E. Mechanical |
|
Date of Appointment : |
15.07.2008 |
|
DIN No.: |
00403746 |
|
|
|
|
Name : |
Mr. Tarakbhai Laxmanbhai Patel |
|
Designation : |
Whole-time Director |
|
Address : |
2, Capriana Apartments, 27, Rajnagar Society, Akota, Vadodara –
390015, Gujarat, India |
|
Date of Birth/Age : |
04.01.1967 |
|
Date of Appointment : |
15.07.2008 |
|
DIN No.: |
02259588 |
|
|
|
|
Name : |
Mr. Nilesh Shyam Dixit |
|
Designation : |
Whole-time Director |
|
Address : |
C/153, Sundervan Society, New Sama Road, Vadodara – 390008, Gujarat,
India |
|
Date of Birth/Age : |
01.12.1956 |
|
Date of Appointment : |
17.06.2009 |
|
Date of Cessation: |
01.12.2014 |
|
DIN No.: |
02049560 |
|
|
|
|
Name : |
Nishant Parulbhai Patel |
|
Designation : |
Additional director |
|
Address : |
GF 2 Capriana Apartment, 27 Rajnagar Society, Akota, Vadodara - 390020, Gujarat, India |
|
Date of Appointment : |
27.02.2015 |
|
DIN No.: |
02924264 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Parulbhai Laxmanbhai Patel |
64200 |
9.88 |
|
Parul L. Patel HUF |
62000 |
9.54 |
|
Ujamben Laxmanbhai Patel |
77100 |
11.86 |
|
Tarakbhai Laxmanbhai Patel |
63200 |
9.72 |
|
Amiben Tarakbhai Patel |
62500 |
9.62 |
|
Bhartiben Parulbhai Patel |
153400 |
23.60 |
|
Harshadbhai Naranbhai Chhatrola |
1800 |
0.28 |
|
Tarak L. Patel HUF |
52800 |
8.12 |
|
Nishant Parulbhai Patel |
63000 |
9.69 |
|
Sujataben Harshad Patel |
50000 |
7.69 |
|
Total
|
650000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 26.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Di ethyl phthalate, phenyl ethyl, phenyl ethyl methyl ether, phenyl
ethyl acetate, benzyl acetate, amyl acetate, amyl salicylate, aromatic
chemicals. |
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Products : |
·
Chemicals ·
Plasticizers and Allied Products |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
HDFC Bank Limited, Alkapuri Branch |
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Facilities : |
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Auditors : |
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|
Name : |
Parikh Shah Chotalia and Associates Chartered Accountants |
|
Address : |
A/11, Sahajanand Apartment, Tarang Society, Opp. Akota Stadium, Productivity
Road, Vadodara – 390020, Gujarat, India |
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Tel. No.: |
91-265-2335917/ 3052101 |
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E-Mail : |
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PAN No. : |
AADFR8971L |
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Memberships : |
-- |
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Collaborators : |
-- |
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Group Companies : |
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Enterprise over
which key management personnel and their relatives have significant influence
: |
·
Lakshya Enterprise ·
Tarak Roadlines ·
Tarak Patel (HUF) ·
Parul Patel (HUF) ·
Vedant Developers |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750,000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
650,000 |
Equity Shares |
Rs.10/- each |
Rs.6.500 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 |
6.500 |
6.500 |
6.500 |
|
(b) Reserves & Surplus |
108.280 |
96.994 |
79.614 |
|
(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) |
114.780 |
103.494 |
86.114 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
4.541 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
4.541 |
0.000 |
0.000 |
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
89.635 |
29.555 |
1.569 |
|
(b)
Trade payables |
105.101 |
131.954 |
60.342 |
|
(c)
Other current liabilities |
8.280 |
7.408 |
1.444 |
|
(d)
Short-term provisions |
0.097 |
2.781 |
1.035 |
|
Total
Current Liabilities (4) |
203.113 |
171.698 |
64.390 |
|
|
|
|
|
|
TOTAL |
322.434 |
275.192 |
150.504 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
21.031 |
18.476 |
19.939 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
12.423 |
4.731 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.071 |
0.071 |
0.071 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
25.595 |
23.459 |
21.198 |
|
(e)
Other Non-current assets |
0.074 |
0.073 |
0.061 |
|
Total
Non-Current Assets |
59.194 |
46.810 |
41.269 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
121.836 |
98.585 |
25.503 |
|
(c)
Trade receivables |
104.152 |
94.957 |
57.698 |
|
(d)
Cash and cash equivalents |
0.355 |
3.260 |
8.743 |
|
(e)
Short-term loans and advances |
36.883 |
31.492 |
17.190 |
|
(f)
Other current assets |
0.014 |
0.088 |
0.101 |
|
Total
Current Assets |
263.240 |
228.382 |
109.235 |
|
|
|
|
|
|
TOTAL |
322.434 |
275.192 |
150.504 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
668.455 |
379.317 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
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|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
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|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
21.575 |
30.447 |
20.066 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.209 |
3.845 |
3.936 |
|
|
|
|
|
|
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|
|
|
PROFIT BEFORE
TAX |
17.366 |
26.602 |
16.130 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
6.080 |
9.222 |
5.450 |
|
|
|
|
|
|
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|
|
|
PROFIT AFTER TAX
|
11.286 |
17.380 |
10.680 |
|
|
|
|
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|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
95.925 |
78.545 |
74.599 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
0.000 |
1.068 |
|
|
|
Dividend |
NA |
0.000 |
4.875 |
|
|
|
Tax on Dividend |
NA |
0.000 |
0.791 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
95.925 |
78.545 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
8.759 |
38.047 |
NA |
|
|
TOTAL EARNINGS |
8.759 |
38.047 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
35.924 |
Nil |
NA |
|
|
TOTAL IMPORTS |
35.924 |
Nil |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.36 |
26.74 |
16.43 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
1.872 |
0.000 |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
NA |
2.60 |
2.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.60 |
9.84 |
10.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.26 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.82 |
0.29 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
1.33 |
1.70 |
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 |
6.500 |
6.500 |
6.500 |
|
Reserves & Surplus |
79.614 |
96.994 |
108.280 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
86.114 |
103.494 |
114.780 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
4.541 |
|
Short term borrowings |
1.569 |
29.555 |
89.635 |
|
Total borrowings |
1.569 |
29.555 |
94.176 |
|
Debt/Equity ratio |
0.018 |
0.286 |
0.820 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Deposits |
|
|
|
Loans and Advances from related parties |
22.304 |
1.644 |
|
Total |
22.304 |
1.644 |
Note:
The registered office of the company has been shifted from 9, Second Floor, Ravi Kiran Complex, Valiya Chowadi, GIDC, Ankleshwar –
393 002, Gujarat to the present address w.e.f. 17.01.2007.
VIEW INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10423328 |
24/04/2013 |
2,164,100.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B74260159 |
|
2 |
90094497 |
31/12/2013 * |
120,000,000.00 |
HDFC BANK LTD. |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B93858504 |
* Date of charge modification
FIXED ASSETS:
· Land
· Building
· Furniture and Fixtures
· Plant and Equipments
· Office Equipments
· Computer
· Vehicles
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 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.63.39 |
|
|
1 |
Rs.98.94 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.