MIRA INFORM REPORT
|
Report No. : |
325173 |
|
Report Date : |
06.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
VISHAL EXPORTS OVERSEAS LIMITED |
|
|
|
|
Registered
Office : |
Third Floor, 301, Sheel Complex, 4, Mayur Colony, Near Mithakhali Six Road, Mithakhali Ahmedabad – 380006, Gujarat |
|
Tel. No.: |
91-79-30073500 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
06.03.1995 |
|
|
|
|
Com. Reg. No.: |
04-024874 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 360.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L51909GJ1995PLC024874 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV2354D |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of Plastic Articles. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
- (Matter converted to SCA/8879/2012) |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Subject was incorporated in 1995. Subject is an importer and exporter
of various commodities (Leno Bag, Onion and Yellow Maize etc.) Management of the company has failed to file its financials with the
government department for FY 2014. As per the Financials of 2013 and 2012, company has incurred huge loss
during FY 2013 and FY 2012. Rating also takes into consideration relatively
weak net worth and huge external borrowing taken by the company which may act
as a threatening to liquidity position of the company. Business is active. Payment reported to be slow. Subject can be considered for business dealings on fully safe and
secured trade terms and conditions. Note:
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name has been found enlisted as a
defaulter in the publicly available RBI Defaulters’ list and the details of the
same are as under :
|
Borrowers’ Name : |
VISHAL EXPORTS OVERSEAS LIMITED |
|
Address : |
Vishal House Opposite Sales Indiaashram Road,
Ahmedabad - 380009, Gujarat, India (Old Address) |
|
Name of Individual : |
|
|
Name of Credit Grantors / Bank & Branch: |
Union Bank of India/ ARB. Ahmedabad |
|
Amount: |
Rs. 296.600 Million |
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 (GENERAL DETAILS)
|
Name : |
Mr. Rajnish |
|
Designation : |
Accountant |
|
Contact No.: |
91-9986050743 |
|
Date : |
05.06.2015 |
LOCATIONS
|
Registered Office : |
Third Floor, 301, Sheel Complex, 4, Mayur Colony, Near Mithakhali Six Road, Mithakhali Ahmedabad – 380006, Gujarat, India |
|
Tel. No.: |
91-79-30073500 |
|
Mobile No.: |
91-9986050743 (Mr. Rajnish) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
#6, 10th Cross Marutinagar, Andhrahalli Main Road Peenya 2nd Stage,
Bangalore – 560091, Karnataka, India |
DIRECTORS
As on 07.09.2013
|
Name : |
Mr. Pradeep Subhashchandra Mehta |
|
Designation : |
Managing Director |
|
Address : |
Vishal, Vasuma Hill Bunglows, Vastrapur, Ahmedabad – 380015, Gujarat,
India |
|
Date of Birth/Age : |
03.10.1956 |
|
Date of Appointment : |
06.03.1995 |
|
DIN No.: |
00027322 |
|
|
|
|
Name : |
Mr. Dipak Subhashchandra Mehta |
|
Designation : |
Joint Managing Director |
|
Address : |
Jay Bunglow, Ishavashyam society, Satellite, Ahmedabad – 380015,
Gujarat, India |
|
Date of Birth/Age : |
28.09.1958 |
|
Date of Appointment : |
06.03.1995 |
|
DIN No.: |
00012647 |
|
|
|
|
Name : |
Mr. Ashwin Budhalal PArikh |
|
Designation : |
Director |
|
Address : |
26B-Ritej Apartment, Achole Road, Nalla Sopara Estate, Thane – 401209,
Maharashtra, India |
|
Date of Birth/Age : |
11.04.1995 |
|
Date of Appointment : |
17.08.2008 |
|
DIN No.: |
02550223 |
|
|
|
|
Name : |
Mr. Haresh Kantilal Mehta |
|
Designation : |
Director |
|
Address : |
B/32, Prerna Viraj tower – 1, Rose Wood tower, Jodhpur Gam, Satellite,
Ahmedabad – 3800015, Gujarat, India |
|
Date of Birth/Age : |
15.12.1959 |
|
Date of Appointment : |
10.01.2011 |
|
DIN No.: |
00056637 |
KEY EXECUTIVES
|
Name : |
Mr. Narayan Shah |
|
Designation : |
Practicing Company Secretary |
|
Address : |
609, M.V. House, 6th Floor, Near Police Commisiioner
Office, Shahibaugh, Ahmedabad – 380004, Gujarat, India |
|
Qualification : |
ACA, BBA |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
SHAREHOLDING FILE NOT AVAILABLE
Equity Share Break up (Percentage of Total Equity)
As on 07.09.2013
|
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 |
1.64 |
|
Bodies corporate |
11.71 |
|
Directors or relatives of Directors |
13.33 |
|
Other top fifty shareholders |
3.74 |
|
Others |
68.44 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Plastic Articles. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H. J. Parikh and Company Chartered Accountants |
|
Address : |
2, Shyam Darshan Flat, Dalal Colony, Raman Nagar Society, Maninagar,Ahmedabad-380028, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ABCPP1884E |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Key Managerial
Personnel : |
|
|
|
|
|
Other Related
Parties : |
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,500,000,000 |
Equity Shares |
Rs.1/- each |
Rs. 1500.000 Million |
|
700,000 |
Preference Shares |
Rs.100/- each |
Rs. 70.000 Million |
|
|
Total |
|
Rs. 1570.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
360,000,000 |
Equity Shares |
Rs.1/- each |
Rs. 360.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 (15
Months) |
31.12.2011 (15
Months) |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
360.000 |
360.000 |
|
(b) Reserves & Surplus |
|
273.821 |
273.821 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
633.821 |
633.821 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
3930.372 |
3931.372 |
|
(b) Deferred tax liabilities
(Net) |
|
274.259 |
274.259 |
|
(c) Other long term liabilities |
|
2809.788 |
2755.321 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
7014.419 |
6960.952 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
954.510 |
955.932 |
|
(b) Trade payables |
|
0.000 |
0.000 |
|
(c) Other current liabilities |
|
17.063 |
21.761 |
|
(d) Short-term provisions |
|
48.705 |
47.744 |
|
Total
Current Liabilities (4) |
|
1020.278 |
1025.437 |
|
|
|
|
|
|
TOTAL |
|
8668.518 |
8620.210 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
0.016 |
1.565 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1.392 |
1.392 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
2135.137 |
1914.093 |
|
Total
Non-Current Assets |
|
2136.545 |
1917.050 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
3928.742 |
3847.282 |
|
(d) Cash and cash equivalents |
|
32.210 |
246.710 |
|
(e) Short-term loans and
advances |
|
359.692 |
385.663 |
|
(f) Other current assets |
|
2211.329 |
2223.505 |
|
Total
Current Assets |
|
6531.973 |
6703.160 |
|
|
|
|
|
|
TOTAL |
|
8668.518 |
8620.210 |
|
SOURCES OF FUNDS |
|
|
30.09.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
360.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(851.371) |
|
|
NETWORTH |
|
|
(491.371) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
3931.372 |
|
|
2] Unsecured Loans |
|
|
452.414 |
|
|
TOTAL BORROWING |
|
|
4383.786 |
|
|
DEFERRED TAX LIABILITIES |
|
|
274.259 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4166.674 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1.713 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.392 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
4771.395
|
|
|
Cash & Bank Balances |
|
|
243.734
|
|
|
Other Current Assets |
|
|
2233.209
|
|
|
Loans & Advances |
|
|
437.917
|
|
Total
Current Assets |
|
|
7686.255
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000
|
|
|
Other Current Liabilities |
|
|
3527.779
|
|
|
Provisions |
|
|
0.000
|
|
Total
Current Liabilities |
|
|
3527.779
|
|
|
Net Current Assets |
|
|
4158.476
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
5.093 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4166.674 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 (15
Months) |
31.12.2011 (15
Months) |
30.09.2010 |
|
|
SALES |
|
|
|
|
|
Income |
20.089 |
58.418 |
0.000 |
|
|
Other Income |
0.266 |
144.417 |
0.238 |
|
|
TOTAL
(A) |
20.355 |
202.835 |
0.238 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
20.041 |
57.762 |
0.000 |
|
|
Manufacturing Expenses |
0.000 |
0.000 |
435.440 |
|
|
Administrative Expenses |
0.000 |
0.000 |
0.000 |
|
|
Employees benefits expense |
0.000 |
0.000 |
1.003 |
|
|
Other expenses |
219.792 |
928.574 |
0.000 |
|
|
TOTAL
(B) |
239.833 |
986.336 |
436.443 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(219.478) |
(783.501) |
(436.205) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.024 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(219.478) |
(783.501) |
(436.229) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
1.549 |
0.164 |
0.165 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(221.027) |
(783.665) |
(436.394) |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX (G-H) (I) |
(221.027) |
(783.665) |
(436.394) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
(1908.857) |
(1125.192) |
NA |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
(2129.884) |
(1908.857) |
NA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(0.61) |
(2.02) |
(1.21) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.12.2011 |
30.09.2010 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.12.2011 |
30.09.2010 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(1100.24) |
(1341.48) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.55) |
(9.09) |
-5.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.35) |
(1.24) |
0.89 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
7.71 |
7.71 |
(8.92) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.40 |
6.54 |
1.93 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
30.09.2010 |
31.12.2011 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
360.000 |
360.000 |
360.000 |
|
Reserves & Surplus |
0.000 |
273.821 |
273.821 |
|
Accumulated Losses |
(851.371) |
0.000 |
0.000 |
|
Net
worth |
(491.371) |
633.821 |
633.821 |
|
|
|
|
|
|
long-term borrowings |
3931.372 |
3931.372 |
3930.372 |
|
Short term borrowings |
452.414 |
955.932 |
954.510 |
|
Total
borrowings |
4383.786 |
4887.304 |
4884.882 |
|
Debt/Equity
ratio |
(8.922) |
7.711 |
7.707 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2011 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
58.418 |
20.089 |
|
|
(65.612) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2011 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
58.418 |
20.089 |
|
Profit |
(783.665) |
(221.027) |
|
|
(1341.48%) |
(1100.24%) |
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 |
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 |
No |
|
26 |
Turnover of firm for last two 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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from Vishal House Opposite Sales Indiaashram Road, Ahmedabad - 380009, Gujarat, India to the present address w.e.f. 01.04.2011
UNSECURED LOAN
|
Particulars |
As
on 31.03.2013 |
As
on 31.12.2011 |
|
SHORT TERM
BORROWING |
|
|
|
Loan and Advances from related parties |
445.427 |
446.849 |
|
Other Loans and advances |
509.083 |
509.083 |
|
Total |
|
|
|
|
954.510 |
955.932 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10042272 |
21/03/2007 |
200,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
A12380382 |
|
2 |
10028974 |
08/12/2006 |
11,800,000.00 |
CANARA BANK |
BHADRA BRANCH, OPP. ADVANCE CINEMA,, AHMEDABAD, Gujarat - 380001, INDIA |
A08027187 |
|
3 |
10009975 |
08/09/2006 * |
250,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
10-11, EMPIRE TOWER, PANCHWATI,, C.G. ROAD, AHMED |
A02342947 |
|
4 |
10008638 |
23/06/2006 |
440,000,000.00 |
UNITED BANK OF INDIA |
AHMEDABAD BRANCH, POST BOX NO. 170, UNITED, BANK |
A01756295 |
|
5 |
10006009 |
20/06/2006 |
250,000,000.00 |
STATE BANK OF HYDERABAD |
ASHRAM ROAD BRANCH, NAGINDAS CHAMBERS, USHMANPURA, ASHRAM ROAD, AHMEDABAD, Gujarat - 380014, INDIA |
A01526334 |
|
6 |
10008554 |
23/05/2006 |
440,000,000.00 |
UNITED BANK OF INDIA |
AHMEDABAD BRANCH POST BOX NO 170 UNITED BANK OF, |
A01312511 |
|
7 |
10002910 |
30/03/2006 |
440,000,000.00 |
UNITED BANK OF INDIA |
AHMEDABAD BRANCH, LALDARWAJA, AHMEDABAD, Gujarat |
A00431775 |
|
8 |
10015143 |
30/03/2006 |
440,000,000.00 |
UNITED BANK OF INDIA |
AHMEDABABD BRANCH, POST BOX NO. 170,, UNITED BANK |
A00431544 |
|
9 |
10003877 |
19/06/2006 * |
1,400,000,000.00 |
STATE BANK OF HYDERABAD |
ASHRAM ROAD BRANCH, NAGINDAS CHAMBERS, USHMANPURA, ASHRAM ROAD, AHMEDABAD, Gujarat - 380014, INDIA |
A00927400 |
|
10 |
80022642 |
30/01/2006 |
40,000,000.00 |
PUNJAB NATIONAL BANK |
OPP SALES INDIA, ASHRAM ROAD, AHMEDABAD, Gujarat |
- |
FIXED ASSETS
- Furniture and fixtures
- Office equipment
- Plant and equipment
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.64.18 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.28 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
YES |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
11 |
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.