MIRA INFORM REPORT

 

 

Report No. :

325977

Report Date :

08.06.2015

 

IDENTIFICATION DETAILS

 

Name :

NEO WHEELS LIMITED (CN) (w.e.f. 26.03.2007)

 

 

Formerly Known As :

VERSATILE HITECH CONSULTANTS AND ENGINEERS LIMITED

 

 

Registered Office :

R - 202, MIDC, Rabale Police Station, P.O. Ghansol, Navi Mumbai - 400701, Maharashtra

Tel. No.:

91-22-265133830

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

08.04.1987

 

 

Com. Reg. No.:

11-043104

 

 

Capital Investment / Paid-up Capital :

Rs. 38.958 Million

 

 

 

CIN No.:

[Company Identification No.]

U28920MH1987PLC043104

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMV10281F

 

 

PAN No.:

[Permanent Account No.]

AAACV3769Q

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturing of Aluminum alloy wheels

 

 

No. of Employees :

500 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (48)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 500000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a company established in the year 1987, having satisfactory track.

 

Subject is a manufacturer of aluminum alloy wheels.

 

Company has recorded dip in its profit in FY14 as compare to FY13.

 

However, net worth of the company is reported to be strong.

 

There seems reasonably well gape between trade receivables and trade payables.

 

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

 

In a view of long standing existence, the company can be consider for normal business dealing with 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. Uday

Designation :

Export Manager

Contact No.:

91-22-65133830

Date :

04.06.2015

 

 

LOCATIONS

 

Registered Office :

R - 202, MIDC, Rabale Police Station, P.O. Ghansol, Navi Mumbai - 400701, Maharashtra, India

Tel. No.:

91-22-265133830/ 22-7602272 / 35133831

Fax No.:

91-22-27690010

E-Mail :

export.neowhl@gmail.com

sales@neowheels.com

 

 

DIRECTORS

 

AS ON 3.09.2014

 

Name :

Mr. Sanjay Rashiklal Kacheria

Designation :

Managing Director

Address :

S/O Rasiklal O. Kacheria Smruti, 1st Floor, 8 Bhulabhai Desai Road, Mahalaxmi, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

01.08.1959

Date of Appointment :

01.10.2014

DIN No.:

00024441

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

U28920MH1987PLC043104

NEO WHEELS LIMITED (CN)

Managing director

01-10-2014

23-02-1994

-

Active

NO

2

U24130MH2000PTC129202

SHARDA WHEELS PRIVATE LIMITED

Director

01-04-2008

01-04-2008

-

Active

NO

3

U74999MH2010PTC198536

OPTIMIZED ENGINEERING STRATEGIES PRIVATE LIMITED

Director

29-06-2010

29-06-2010

-

Active

NO

 

 

Name :

Mr. Paresh Rashiklal Kaceria

Designation :

Director

Address :

S/O Rasiklal O. Kacheria Smruti, 1st Floor, 8 Bhulabhai Desai Road, Mahalaxmi, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

01.12.1949

Date of Appointment :

23.02.1994

DIN No.:

00024513

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

U28920MH1987PLC043104

NEO WHEELS LIMITED (CN)

Whole-time director

01-10-2014

23-02-1994

-

Active

NO

2

U17110MH1995PTC093772

REMEX TEXTILES PRIVATE LIMITED

Director

15-02-1997

15-02-1997

-

Active

NO

3

U70100MH1996PTC100684

PRAGRAJ REAL-TRADE PRIVATE LIMITED

Director

15-02-1997

15-02-1997

-

Active

NO

4

U24121MH1996PTC100473

SHASWATI CHEMICALS PRIVATE LIMITED

Director

15-02-1997

15-02-1997

-

Active

NO

5

U29224GJ1983PTC006321

MAHENDRA TECHNOCAST PRIVATE LIMITED

Director

17-02-1997

17-02-1997

07-02-2011

Strike off

NO

6

U35900MH1997PTC111875

RUSHI AUTO-INDUSTRIES PRIVATE LIMITED

Director

21-11-1997

21-11-1997

-

Amalgamated

NO

7

U24130MH2000PTC129202

SHARDA WHEELS PRIVATE LIMITED

Director

01-04-2008

01-04-2008

-

Active

NO

8

U34102MH2003PTC139820

RUBY BUS PRIVATE LIMITED

Director

30-09-2009

01-11-2008

-

Active

NO

9

U74999MH2010PTC198536

OPTIMIZED ENGINEERING STRATEGIES PRIVATE LIMITED

Director

29-06-2010

29-06-2010

-

Active

NO

10

U25203MH2013PTC250280

FIBROCHEM COMPOSITES PRIVATE LIMITED

Director

22-11-2013

22-11-2013

-

Active

NO

 

 

Name :

Mr. Bipin Mavji Sharda

Designation :

Director

Address :

C-5, Shreepal Complex, Panchpakhadi, Thane (West), Mumbai -400 602, Maharashtra, India

Date of Birth/Age :

28.06.1954

Date of Appointment :

20.02.2006

DIN No.:

00002795

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

U67120MH1994PTC078203

KANDARP SHARES & STOCKS PRIVATE LIMITED (CN)

Director

05-05-1994

05-05-1994

-

Active

NO

2

U51399MH2001PTC130409

SILVER SHINE IMPEX (INDIA) PRIVATE LIMITED

Director

11-01-2001

11-01-2001

01-08-2008

Active

NO

3

U74140MH1998PTC117538

MANIBHADRA MANAGEMENT AND MARKETING SERVICES PRIVATE LIMITED

Director

05-01-2005

05-01-2005

-

Active

NO

4

U24130MH2000PTC129202

SHARDA WHEELS PRIVATE LIMITED

Director

05-09-2005

05-09-2005

-

Active

NO

5

U28920MH1987PLC043104

NEO WHEELS LIMITED (CN)

Director

20-02-2006

20-02-2006

-

Active

NO

6

U45200MH1991PTC061916

GAJA BUILDING MATERIALS PRIVATE LIMITED

Director

25-01-2007

25-01-2007

-

Active

NO

7

U51900MH1997PTC105951

SHARDA CONPRO MARKETING PRIVATE LIMITED

Director

27-03-2007

27-03-2007

01-08-2008

Active

NO

8

U65990MH1996PTC102944

BEES' CAPITAL ADVISORY PRIVATE LIMITED

Director

29-09-2008

07-12-2007

-

Active

NO

9

U74140MH2008PTC178898

REALTY ESTATE MANAGERS AND CONSULTANTS (INDIA) PRIVATE LIMITED

Director

14-02-2008

14-02-2008

-

Strike off

NO

10

U70102MH2009PTC194708

MUKAMBIKA ESTATE PRIVATE LIMITED

Director

06-08-2009

06-08-2009

25-11-2014

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Uday

Designation :

Export Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

Rasiklal O Kacheria

5100

Madhukanta Rasikala. Kacheria

35050

Rasiklal O. Kacheria Huf

22995

Rasiklal O. Kacheria Huf

760189

Dipika Paresh Kaceria

20300

Paresh Kaceria Huf

45500

Satya P. Kacheria

608931

Sanjay Rasiklal Kacheria

2108532

Bella R. Kacheria

262803

Sanjay R. Kacheria (HUF)

26400

Total

3895800

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing of Aluminum alloy wheels

 

 

Products :

Aluminum alloy wheels

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

L\C

 

 

Purchasing :

L\C

 

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

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

 Manufacturer

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

300 (Approximately)

 

 

Bankers :
  • Canara Bank, 8/10; Calcot House, Tamarind Lane; Fort, Mumbai – 400023, Maharashtra, India 

 

Banker Name

The Shamrao Vithal Co-operative Bank Limited

Branch Address

Jayant Arcade, Rajawdi Naka, Ghatkopar (East), Mumbai – 400077, 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

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

(a) Term loans

 

 

From Banks

 

 

New Land and Building

(Secured against Land and building, Hypothecation Powder Coating Machine) Interest @ 12.75% For 36 month together with Personal Guarantee of the Directors)

Term on Repayment Monthly

0.000

0.668

New Equipment Plant and Machinery

(Secured against Hypothecation Plant and Machinery) Interest @ 12.75% For 48 month together with Personal Guarantee of the Directors)

Term on Repayment Monthly

0.000

1.727

New Land and Building

(Secured against Equitable Mortgage of Land and Building)

Interest @ 12.75% For 60 month together with Personal Guarantee of the Directors)

Term on Repayment Monthly

14.323

17.614

Working Capital Loan

 

 

Cash Credit

Secured against hypothecation Of stocks and Book Debts with Personal Guarantee of the Directors Interest @ 13.75%) (of the above, Rs. 90.000 Millions is guaranteed by Directors and Mortgage Land and Building Situated at Plot No R-202 MIDC TTC, Rabale PO Ghansoli Navi Mumbai)

133.791

98.937

(b) Long term maturities of finance lease obligations

(Secured By way of Charge on Vehicles with personal Guarantee of director)

0.957

0.000

Total

149.071

118.946

 

Auditors :

 

Name :

P.M. Dharia and Company

Chartered Accountants

Address :

A-34 Navyug Niwas, 4th Floor, Opposite Minerva Talkies 167, Lamington Road, Mumbai – 400007, Maharashtra, India

Tel. No.:

91-22-3079327/ 3073481

Fax No.:

91-22-3073488

E-Mail :

kiran@pmdharia.com

PAN N Income-tax PAN of auditor or auditor's firm :

AAAFP1654K

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4000000

Equity Shares

Rs.10/- each

Rs.40.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3895800

Equity Shares

Rs.10/- each

Rs.38.958 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

38.958

38.958

38.958

(b) Reserves & Surplus

125.899

117.715

107.804

(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)

164.857

156.673

146.762

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

149.071

118.945

109.657

(b) Deferred tax liabilities (Net)

2.123

1.792

1.670

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

1.863

0.963

0.216

Total Non-current Liabilities (3)

153.057

121.700

111.543

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

43.163

28.919

31.694

(b) Trade payables

107.097

6.326

9.067

(c) Other current liabilities

2.711

5.280

0.990

(d) Short-term provisions

9.254

8.045

12.209

Total Current Liabilities (4)

162.225

48.570

53.960

 

 

 

 

TOTAL

480.139

326.943

312.265

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

145.300

141.276

134.238

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.875

0.000

1.995

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.050

0.050

0.050

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

2.256

2.202

1.833

(e) Other Non-current assets

8.924

8.259

8.555

Total Non-Current Assets

157.405

151.787

146.671

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

93.129

78.397

71.056

(c) Trade receivables

207.567

70.781

68.878

(d) Cash and cash equivalents

11.024

8.550

4.119

(e) Short-term loans and advances

11.014

17.428

21.541

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

322.734

175.156

165.594

 

 

 

 

TOTAL

480.139

326.943

312.265

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

481.274

350.456

322.758

 

Other Income

1.970

1.008

1.146

 

TOTAL (A)

483.244

351.464

323.904

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

232.715

115.695

94.948

 

Purchases of Stock-in-Trade

82.048

78.135

82.374

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(1.715)

(4.290)

4.362

 

Employees benefits expense

22.201

20.217

17.510

 

Other expenses

103.830

102.352

82.439

 

TOTAL (B)

439.079

312.109

281.633

 

 

 

 

 

Less

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

44.165

39.355

42.271

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

27.113

20.716

14.538

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

17.052

18.639

27.733

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

4.281

3.712

3.481

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

12.771

14.927

24.252

 

 

 

 

 

Less

TAX (H)

4.587

5.022

8.500

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

8.184

9.905

15.752

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

2.10

2.54

4.04

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

450.000

 

 

 

 

 

The above information has been parted by Mr. Uday (Export Manager)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

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)

(%)

1.70

2.83

4.88

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

9.18

11.23

13.10

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.66

4.57

7.82

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.08

0.10

0.17

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.17

0.87

0.96

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.99

4.63

3.07

 

 

 

 

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

38.958

38.958

38.958

Reserves & Surplus

107.804

117.715

125.899

Net worth

146.762

156.673

164.857

 

 

 

 

long-term borrowings

109.657

118.945

149.071

Short term borrowings

31.694

17.919

43.163

Total borrowings

141.351

136.864

192.234

Debt/Equity ratio

0.963

0.874

1.166

 

 

 

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)

Sales

322.758

350.456

481.274

 

 

8.582

37.328

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

322.758

350.456

481.274

Profit

15.752

9.905

8.184

 

4.88%

2.83%

1.70%

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

Yes

17

Details of sister concerns

No

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 four 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

 

NOTE:

Registered office of the company has been shifted from B – 9, Ghatkopar Industrial Estate, B. S. Marg, Mumbai – 400086, Maharashtra, India to the present address w.e.f. 01.04.2006

 

 

FINANCIAL RESULTS:

The company earned profit of Rs. 8.184 Million (previous Year: 9.905 Million) during the year. In view to reserve funds for further expansion, the Directors do not recommend any dividend for the year.

 

 

UNSECURED LOAN

 

Particulars

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

(a) Loans and advances from Others

 

 

Astha Fiscal and Trading Private Limited

0.000

0.000

Sharda Wheels Private Limited

0.884

0.883

Bee Credit and Advisory Private Limited

0.000

0.000

Sanjay Kachera

10.611

0.000

Mani Bhadra Management Service Private Limited

8.500

6.000

NSIC

 (of the above, Rs.15.000 Million is Bank guarantee and Directors Personal )

19.035

18.370

(b) Security Deposits

(of the above, Rs. 5.022 Million is Nil guaranteed by Directors and / or others This against business)

4.134

3.666

Total

43.164

28.919

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10088425

20/12/2007

8,100,000.00

THE SHAMRAO VITHAL CO-OP. BANK LIMITED

Jayant Arcade, Rajawadi Naka, Ghatkopar (East), MUMBAI, Maharashtra - 400077, INDIA

A32317604

2

10007980

27/02/2013 *

188,550,000.00

THE SHAMRAO VITHAL CO-OP. BANK LIMITED

Jayant Arcade, Rajawadi Naka,, Ghatkopar (East),, 
Mumbai, Maharashtra - 400077, INDIA

B72410418

3

80042087

20/12/2007 *

53,650,000.00

THE SHAMRAO VITHAL CO-OP. BANK LIMITED

GHATKOPAR (WEST), MUMBAI, Maharashtra - 400077, INDIA

A34743898

4

80037202

27/02/2013 *

137,500,000.00

THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED

JAYANT ARCADE, RAJAWDI NAKA,, GHATKOPAR (EAST), MUMBAI, MAHARASHTRA - 400077, INDIA

B72411051

5

90222430

11/01/1995

15,100,000.00

CENTRAL BANK OF INDIA

M.G. ROAD, MAIN BRANCH, MUMBAI, Maharashtra - 400023, INDIA

-

 

* Date of charge modification

 

 

FIXED ASSETS

 

Tangible assets

 

 

Intangible assets

 

 

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 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.63.90

UK Pound

1

Rs.97.98

Euro

1

Rs.71.82

 

 

INFORMATION DETAILS

 

Information Gathered by :

KAM

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

GTA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

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

6

--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

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

 

48

 

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.