MIRA
INFORM REPORT
|
Report No. : |
325619 |
|
Report Date : |
02.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
ASTRON PAPER AND BOARD MILL LIMITED |
|
|
|
|
Registered
Office : |
D-702, Seventh Floor, Ganesh Meriden, Opposite High Court,
|
|
Tel. No.: |
91-79-40081220/ 40081221 |
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|
Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
29.12.2010 |
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Com. Reg. No.: |
04-063428 |
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Capital
Investment / Paid-up Capital : |
Rs.310.000 million |
|
|
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|
CIN No.: [Company Identification
No.] |
U21090GJ2010PLC063428 |
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|
IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMA10343E |
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PAN No.: [Permanent Account No.] |
AAJCA0517E |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing of Kraft
Paper from waste paper. |
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No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a limited company established in the year 2010, having
moderate track record. Company has recorded accumulated losses from its operation in FY 14.
However, sales turnover in FY 14 has increased as compare to FY 13. Trade relations are fair. Business is active. Payment terms are slow
but correct. The company can be considered for the business dealings with safe and
secure 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = D |
|
Rating Explanation |
Lowest credit quality and very low prospect
of recovery. |
|
Date |
02.12.2013 |
Reason for Suspension:
The ratings have been suspended as the company
has not furnished the information required by CARE for monitoring of the
ratings.
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
31-03-2014.
INFORMATION DECLINED
Management non-cooperative
(Tel. No.: 91-79-40081221/ 40081220)
LOCATIONS
|
Registered Office : |
D-702, Seventh Floor, Ganesh Meriden, Opposite High Court,
S.G. Highway, Ahmedabad – 380 060, Gujarat, India |
|
Tel. No.: |
91-79-40081220/ 40081221 |
|
Fax No.: |
91-79-40081220 |
|
E-Mail : |
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|
Website : |
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|
Factory : |
Survey No.52/1-2, 53/1-2, Village Sukhpur, Taluka Halvad,
District Surendranagar – 363 330, Gujarat, India |
|
Tel. No.: |
91-2758-250221 / 22 / 23 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Kirit Ghanshyambhai Patel |
|
Designation : |
Managing Director |
|
Address : |
302, Status II
Tower, Behind Manav Mandir, Memnagar, Ahmedabad – 380 052, Gujarat, India |
|
Date of Birth/ Age : |
29.12.1972 |
|
Date of Appointment : |
29.12.2010 |
|
PAN No.: |
ACYPP9663Q |
|
DIN No.: |
03353684 |
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|
|
|
Name : |
Mr. Ramakant Kantibhai Patel |
|
Designation : |
Director |
|
Address : |
C-25,
Sentossa Greenland, Sardar Patel Ring
Road, Village Rakanpur, Taluka Kalol, Gandhinagar – 380 060, Gujarat, India |
|
Date of Birth/ Age : |
25.11.1965 |
|
Date of Appointment : |
29.12.2010 |
|
PAN No.: |
AFZPP4430R |
|
DIN No.: |
00233423 |
|
|
|
|
Name : |
Mr. Karshanbhai Hirabhai Patel |
|
Designation : |
Director |
|
Address : |
145, At and Post
Daramali, Taluka- Idar, District Sabarkantha, Daramali -383 110, Gujarat,
India |
|
Date of Birth/ Age : |
01.06.1953 |
|
Date of Appointment : |
29.12.2010 |
|
DIN No.: |
00048167 |
|
|
|
|
Name : |
Mr. Jayantibhai Madhabhai Patel |
|
Designation : |
Additional Director |
|
Address : |
At Narsinhpura,
Taluka Idar, District S.K., Himmatnagar – 383 430, Gujarat, India |
|
Date of Appointment : |
28.06.2011 |
|
DIN No.: |
00386797 |
|
|
|
|
Name : |
Mr. Rasiklal Valjibhai Patel |
|
Designation : |
Director |
|
Address : |
Kamdhenu
Apartment, Block No.4, Somnath Society, Morvi – 363 641, Gujarat, India |
|
Date of Birth/ Age : |
01.03.1958 |
|
Date of Appointment : |
29.12.2010 |
|
PAN No.: |
ABNPP7987M |
|
DIN No.: |
00235194 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
Note:
Shareholding details file attached.
AS ON 30.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
55.13 |
|
Directors
or relatives of directors |
|
28.57 |
|
Other
top fifty shareholders |
|
16.30 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of Kraft
Paper from waste paper. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged (Approximately) /
Information declined by the management
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Bankers : |
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Facilities : |
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Financial Institutions : |
SBICAP Trustee Company Limited, 202, Maker Tower, 'E', Cuffe Parade,
Colaba, Mumbai – 400 005, Maharashtra, India |
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|
|
|
Auditors : |
|
|
Name : |
S.N. Shah and Associates Chartered Accountants |
|
Address : |
403, "Hemkoot", Opposite B.M. Institute, Near
Nehru Bridge, Ashram Road, Ahmedabad – 380 009, Gujarat, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ABFFS8804G |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
·
Shree Rangam Packaging Private Limited ·
Shivam Industries ·
Mitul Tradelink Private Limited ·
Krupal Trading Company ·
Devkinandan Paper Mills Private Limited ·
Asian Granito India Limited (CIN No.:
L17110GJ1995PLC027025) ·
Shreeji Industries |
CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital : Rs.325.000 million
Issued, Subscribed & Paid-up Capital : Rs.325.000
million
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
31000000 |
Equity Shares |
Rs.10/- each |
Rs.310.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
31000000 |
Equity Shares |
Rs.10/- each |
Rs.310.000 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 |
310.000 |
270.000 |
43.419 |
|
(b) Reserves & Surplus |
(70.954) |
(42.167) |
83.882 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.038 |
0.029 |
|
Total Shareholders’ Funds (1) + (2) |
239.046 |
227.871 |
127.330 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
443.463 |
526.231 |
288.861 |
|
(b) Deferred tax liabilities (Net) |
37.355 |
21.726 |
0.285 |
|
(c) Other long term liabilities |
0.060 |
0.060 |
0.060 |
|
(d) Long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
480.878 |
548.017 |
289.206 |
|
|
|
|
|
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(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
298.068 |
112.982 |
8.070 |
|
(b) Trade payables |
152.472 |
132.934 |
20.196 |
|
(c) Other current liabilities |
97.215 |
87.325 |
58.589 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
547.755 |
333.241 |
86.855 |
|
|
|
|
|
|
TOTAL |
1267.679 |
1109.129 |
503.391 |
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
670.957 |
653.016 |
41.658 |
|
(ii) Intangible Assets |
0.125 |
0.164 |
0.000 |
|
(iii) Capital work-in-progress |
3.085 |
11.788 |
361.835 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.500 |
0.300 |
0.300 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.820 |
|
(d)
Long-term Loan and Advances |
0.074 |
0.071 |
0.000 |
|
(e) Other Non-current assets |
0.913 |
1.189 |
0.506 |
|
Total Non-Current Assets |
675.654 |
666.528 |
405.119 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
230.058 |
142.655 |
20.982 |
|
(c) Trade receivables |
284.238 |
150.527 |
0.000 |
|
(d) Cash and cash equivalents |
28.234 |
69.994 |
13.205 |
|
(e) Short-term loans and advances |
48.818 |
79.029 |
63.958 |
|
(f) Other current assets |
0.677 |
0.396 |
0.127 |
|
Total Current Assets |
592.025 |
442.601 |
98.272 |
|
|
|
|
|
|
TOTAL |
1267.679 |
1109.129 |
503.391 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
1058.388 |
265.936 |
0.000 |
|
|
|
Other Income |
3.591 |
1.339 |
0.168 |
|
|
|
TOTAL (A) |
1061.979 |
267.275 |
0.168 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
709.105 |
212.676 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
4.806 |
(40.357) |
0.000 |
|
|
|
Employee benefits expenses |
51.816 |
15.187 |
0.000 |
|
|
|
Other expenses |
189.206 |
62.200 |
1.312 |
|
|
|
TOTAL (B) |
954.933 |
249.706 |
1.312 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
107.046 |
17.569 |
(1.144) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
87.917 |
25.949 |
0.002 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
19.129 |
(8.380) |
(1.146) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
32.287 |
10.468 |
0.525 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G)
|
(13.158) |
(18.848) |
(1.671) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
15.629 |
21.441 |
0.285 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(28.787) |
(40.289) |
(1.956) |
|
|
|
|
|
|
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|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(42.168) |
(1.956) |
0.000 |
|
|
|
|
|
|
|
|
|
|
EXCESS
DEPRECIATION OF PREVIOUS YEAR W/BACK |
0.000 |
0.077 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(70.955) |
(42.168) |
(1.956) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
17.812 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
TOTAL VALUE OF
IMPORTS CALCULATED ON CIF BASIS - RAW MATERIALS |
455.050 |
148.927 |
17.895 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(1.05) |
(2.86) |
(0.76) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
69.090 |
52.338 |
24.158 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(2.72) |
(15.15) |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
10.11 |
6.61 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.04) |
(1.72) |
(1.19) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.06) |
(0.08) |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.39 |
3.03 |
2.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08 |
1.33 |
1.13 |
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 |
43.419 |
270.000 |
310.000 |
|
Reserves & Surplus |
83.882 |
(42.167) |
(70.954) |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.029 |
0.038 |
0.000 |
|
Net worth |
127.330 |
227.871 |
239.046 |
|
|
|
|
|
|
Long-term borrowings |
288.861 |
526.231 |
443.463 |
|
Short term borrowings |
8.070 |
112.982 |
298.068 |
|
Current maturities of
long-term debts |
24.158 |
52.338 |
69.090 |
|
Total borrowings |
321.089 |
691.551 |
810.621 |
|
Debt/Equity ratio |
2.522 |
3.035 |
3.391 |
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) |
|
Revenue from operations |
0.000 |
265.936 |
1058.388 |
|
|
|
|
297.986 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Revenue from operations |
0.000 |
265.936 |
1058.388 |
|
Profit |
(1.956) |
(40.289) |
(28.787) |
|
|
|
(15.15%) |
(2.72%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by info
agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
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) |
|
LONG TERM BORROWINGS |
|
|
|
Deposits from shareholders |
18.584 |
25.771 |
|
Intercorporate borrowings |
32.722 |
48.535 |
|
Deposits from others |
15.090 |
24.476 |
|
Other loans and advances |
44.500 |
38.500 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
14.453 |
0.000 |
|
Total |
125.349 |
137.282 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10536383 |
19/11/2014 |
386,600,000.00 |
SBICAP TRUSTEE COMPANY
LIMITED |
202, MAKER TOWER, 'E',
CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
C36835056 |
|
2 |
10536391 |
19/11/2014 |
407,800,000.00 |
SBICAP TRUSTEE COMPANY
LIMITED |
202, MAKER TOWER, 'E', CUFFE
PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
C36837714 |
|
3 |
10483055 |
07/02/2014 |
30,000,000.00 |
UNION BANK OF INDIA |
ELLISBRIDGE BRANCH,
KARAKA BUILDING, NEAR NATRAJ CINEMA, ASHRAM ROAD, AHMEDABAD, GUJARAT -
380009, INDIA |
B98669963 |
|
4 |
10312672 |
09/01/2013 * |
799,700,000.00 |
UNION BANK OF INDIA |
ELLISBRIDGE BRANCH,
KARAKA BUILDING NO.1, NEAR GUJARAT CHAMBER OF COM. AND INDS, ASHRAM ROAD,
AHMEDABAD, GUJARAT - 380009, INDIA |
B67258749 |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixtures
Intangible Assets
·
Computer Software
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.63.61 |
|
UK Pound |
1 |
Rs.97.26 |
|
Euro |
1 |
Rs.69.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
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 |
|
26 |
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.