MIRA INFORM REPORT
|
Report No. : |
326951 |
|
Report Date : |
12.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
WEARIT GLOBAL LIMITED |
|
|
|
|
Registered
Office : |
Crescent Tower, 5th Floor, 229, A. J. C. Bose Road, Kolkata
– 700020, West Bengal |
|
Tel. No.: |
91-33-40036164 / 6165 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
03.08.1999 |
|
|
|
|
Com. Reg. No.: |
21-089994 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 156.856 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40107WB1999PLC089994 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCR4997F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Yarns and Threads, Textile, Viscose Yarns, Polyester Yarns and Cotton Yarns. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3220000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Profitability of the company seems to be low during 2014. However,
General financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are slow
but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
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 DENIED BY
|
Name : |
Mr. Goswami |
|
Designation : |
Admin Manager |
|
Contact No.: |
91-33-40036163 |
|
Date : |
11.06.2015 |
LOCATIONS
|
Registered Office : |
Crescent Tower, 5th Floor, 229, A. J. C. Bose Road, Kolkata – 700020, West Bengal, India |
|
Tel. No.: |
91-33-40036164 / 6165 / 40036163 |
|
Fax No.: |
91-33-4003 6158 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Village: Bheelgaon, Tehsil: Kasrawad, Khargone – 451228, Madhya Pradesh, India |
|
Tel. No.: |
91-7285-231715 / 231717 |
DIRECTORS
As on 27.09.2013
|
Name : |
Gaurav Gupta |
|
Designation : |
Director |
|
Address : |
17, Bellyagunge Park Road, Kolkata – 700019, West Bengal, India |
|
Date of Birth/Age : |
29.10.1969 |
|
Qualification : |
B.COM |
|
Date of Appointment : |
10.02.2005 |
|
PAN No.: |
ADOPG5228P |
|
DIN No.: |
00015692 |
|
|
|
|
Name : |
Aditya Bikram Chamaria |
|
Designation : |
Director |
|
Address : |
2, Raoland Road, Kolkata – 700020, West Bengal, India |
|
Date of Birth/Age : |
04.05.1968 |
|
Qualification : |
B.COM |
|
Date of Appointment : |
03.08.1999 |
|
PAN No.: |
ACAPC4645F |
|
DIN No.: |
00027974 |
|
|
|
|
Name : |
Manish Kumar |
|
Designation : |
Managing Director |
|
Address : |
11, Bellyagunge Park Road, Kolkata – 700019, West Bengal, India |
|
Date of Birth/Age : |
17.06.1969 |
|
Qualification : |
B.COM |
|
Date of Appointment : |
01.05.2013 |
|
PAN No.: |
AFWPK2451G |
|
DIN No.: |
00121900 |
|
|
|
|
Name : |
Alok Krishna Agarwal |
|
Designation : |
Director |
|
Address : |
A56, Gulmohar Park Road, New Delhi – 110049, India |
|
Date of Birth/Age : |
03.02.1964 |
|
Qualification : |
L.L.B |
|
Date of Appointment : |
29.09.2014 |
|
PAN No.: |
AAJPA7100N |
|
DIN No.: |
00127273 |
|
|
|
|
Name : |
Purushottam Dalmia |
|
Designation : |
Director |
|
Address : |
BF-144, Salt Lake, Kolkata – 700064, West Bengal, India |
|
Date of Birth/Age : |
23.01.1943 |
|
Qualification : |
B.COM,L.L.B |
|
Date of Appointment : |
21.01.2009 |
|
PAN No.: |
ACMPD6009L |
|
DIN No.: |
00152250 |
|
|
|
|
Name : |
Sandeep Kumar Poddar |
|
Designation : |
Director |
|
Address : |
33, Bellyagunge Park Road, Kolkata – 700019, West Bengal, India |
|
Date of Birth/Age : |
17.09.1968 |
|
Qualification : |
B.COM |
|
Date of Appointment : |
31.03.2006 |
|
PAN No.: |
AFSPP7165C |
|
Date of cessation : |
09.06.2014 |
|
DIN No.: |
01323656 |
|
|
|
|
Name : |
Shailja Haldia |
|
Designation : |
Director |
|
Address : |
152, B.K. Paul Avenue, Kolkata - 700005, West Bengal, India |
|
Date of Appointment : |
04.08.2014 |
|
DIN No.: |
00371953 |
KEY EXECUTIVES
|
Name : |
Mr. Goswami |
|
Designation : |
Admin Manager |
MAJOR
SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2013
|
Category |
Percentage |
|
Bodies corporate |
59.07 |
|
Directors or relatives of Directors |
40.92 |
|
Other top fifty shareholders |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Yarns and Threads, Textile, Viscose Yarns, Polyester Yarns and Cotton Yarns. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
Allahabad Bank, Kolkata Main Branch, 14, India Exchange Place, Kolkata - 700001, West Bengal, India |
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Facilities : |
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Auditors : |
|
|
Name : |
V. Singhi and Associates Chartered Accountants |
|
Address : |
Four Mangoe Lane , Surendra Mohan Ghosh, Sarani , Kolkata 700001, West Bengal, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFV8971C |
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|
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Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
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|
Associates
Companies : |
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|
|
|
|
Subsidiary
Companies : |
Ritvang Textile S.L. |
CAPITAL STRUCTURE
AS ON 29.09.2014
Authorised Capital : Rs.160.000 Million
Issued, Subscribed & Paid-up Capital : Rs.192.614 Million
AS ON 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,00,000 |
Equity Shares – Class A |
Rs.10/- each |
Rs.10.000 Million |
|
15,00,000 |
Equity Shares – Class B |
Rs.100/- each |
Rs.150.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs.160.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
991700 |
Equity Shares – Class A |
Rs.10/- each |
Rs.9.917
Million |
|
1190051 |
Equity Shares – Class B |
Rs.100/- each |
Rs.119.005
Million |
|
|
Total |
|
Rs.128.922 Million |
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,00,000 |
Equity Shares – Class A |
Rs.10/- each |
Rs.10.000 Million |
|
15,00,000 |
Equity Shares – Class B |
Rs.100/- each |
Rs.150.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs.160.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,91,700 |
Equity Shares – Class A |
Rs.10/- each |
Rs.9.917
Million |
|
14,69,393 |
Equity Shares – Class B |
Rs.100/- each |
Rs.146.939
Million |
|
|
Total |
|
Rs.156.856 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 |
156.856 |
128.922 |
128.922 |
|
(b) Reserves & Surplus |
971.266 |
761.257 |
734.771 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
150.076 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1128.122 |
1040.255 |
863.693 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
382.921 |
348.586 |
393.422 |
|
(b) Deferred tax liabilities
(Net) |
29.729 |
16.565 |
10.136 |
|
(c) Other long term
liabilities |
171.374 |
131.784 |
22.428 |
|
(d) long-term provisions |
2.971 |
1.352 |
0.161 |
|
Total
Non-current Liabilities (3) |
586.995 |
498.287 |
426.147 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1217.127 |
935.865 |
366.438 |
|
(b) Trade payables |
353.438 |
233.621 |
72.578 |
|
(c) Other current liabilities |
278.748 |
346.135 |
247.856 |
|
(d) Short-term provisions |
0.119 |
0.045 |
0.000 |
|
Total
Current Liabilities (4) |
1849.432 |
1515.666 |
686.872 |
|
|
|
|
|
|
TOTAL |
3564.549 |
3054.208 |
1976.712 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
715.176 |
687.649 |
576.392 |
|
(ii) Intangible Assets |
0.988 |
0.430 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
77.021 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
16.813 |
16.813 |
10.658 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
349.397 |
333.138 |
334.014 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1082.374 |
1038.030 |
998.085 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
918.166 |
558.711 |
49.469 |
|
(c) Trade receivables |
639.044 |
668.116 |
294.174 |
|
(d) Cash and cash equivalents |
17.330 |
14.169 |
54.585 |
|
(e) Short-term loans and
advances |
858.601 |
733.153 |
532.554 |
|
(f) Other current assets |
49.034 |
42.029 |
47.845 |
|
Total
Current Assets |
2482.175 |
2016.178 |
978.627 |
|
|
|
|
|
|
TOTAL |
3564.549 |
3054.208 |
1976.712 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
4685.070 |
2702.600 |
1452.004 |
|
|
Other Income |
19.794 |
56.181 |
40.180 |
|
|
TOTAL (A) |
4704.864 |
2758.781 |
1492.184 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1469.486 |
473.098 |
3.511 |
|
|
Purchases of Stock-in-Trade |
2457.740 |
1771.018 |
1339.823 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(179.660) |
(69.521) |
(38.447) |
|
|
Employees benefits
expense |
71.283 |
52.397 |
0.526 |
|
|
Other expenses |
613.547 |
247.588 |
71.830 |
|
|
TOTAL (B) |
4432.396 |
2474.580 |
1377.243 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
272.468 |
284.201 |
114.941 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
183.111 |
188.144 |
90.299 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
89.357 |
96.057 |
24.642 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
31.043 |
26.987 |
3.078 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
58.314 |
69.070 |
21.564 |
|
|
|
|
|
|
|
Less |
TAX (H) |
13.118 |
4.889 |
13.227 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
45.196 |
64.181 |
8.337 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2680.525 |
1483.754 |
1104.595 |
|
|
TOTAL EARNINGS |
2680.525 |
1483.754 |
1104.595 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
139.800 |
0.000 |
0.000 |
|
|
Components and Stores
parts |
560.830 |
185.538 |
25.123 |
|
|
Capital Goods |
1.065 |
21.332 |
7.314 |
|
|
TOTAL IMPORTS |
701.695 |
206.870 |
32.437 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(Rs.) |
3.51 |
2.05 |
1.10 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
78.063 |
68.465 |
81.149 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.96 |
2.37 |
0.57 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
5.82 |
10.52 |
7.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.64 |
2.27 |
1.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.07 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.49 |
1.30 |
0.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34 |
1.33 |
1.42 |
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 |
128.922 |
128.922 |
156.856 |
|
Reserves & Surplus |
734.771 |
761.257 |
971.266 |
|
Share Application money
pending allotment |
0.000 |
150.076 |
0.000 |
|
Net worth |
863.693 |
1040.255 |
1128.122 |
|
|
|
|
|
|
long-term borrowings |
393.422 |
348.586 |
382.921 |
|
Short term borrowings |
366.438 |
935.865 |
1217.127 |
|
Current Maturities of
Long Term Debt |
81.149 |
68.465 |
78.063 |
|
Total borrowings |
841.009 |
1352.916 |
1678.111 |
|
Debt/Equity ratio |
0.974 |
1.301 |
1.488 |
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 |
1452.004 |
2702.600 |
4685.070 |
|
|
|
86.129 |
73.354 |
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 |
1452.004 |
2702.600 |
4685.070 |
|
Profit |
8.337 |
64.181 |
45.196 |
|
|
0.57% |
2.37% |
0.96% |
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 |
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 |
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 |
|
|
|
Loans and advances from others |
0.500 |
0.500 |
|
Total |
0.500 |
0.500 |
REVIEW OF OPERATIONS
The manufacturing unit of the Company was fully operational during the year and produced 4478.17 tons of cotton yarn.
FUTURE PROSPECTS
The Company has entered into a Memorandum of Understanding (MOU) with Suzuki Textiles Limited on 17th June, 2014, wherein the Company has agreed to purchase all the immovable and movable assets i.e., free hold land, Building, Plant and Machineries and Miscellaneous assets situated and lying at the Unit-II (Suzuki Spinners) of Suzuki Textiles Limited for the purpose of continuing manufacturing activities in its own name. This is expected to increase growth of the Company in future years.
SUBSIDIARY COMPANY
The Company has one wholly owned subsidiary namely, Ritvang Textile, S.L. Spain. In view of heavy losses and in absence of working capital finance in previous years, the operation of the Joint Venture by the subsidiary continues to remain suspended.
CHANGE IN COMPANY LAW
The Companies Act, 2013 (the Act) has been passed replacing the age old Companies Act, 1956 and a large portion of the Act has already become effective. Several Rules under various Sections of the Act have also been notified. The Company is taking necessary steps to comply with the requirements of the new Act.
Pursuant to the General Circular 08/2014 No. 1/19/2013-CL-V dated 4th April, 2014 issued by the Ministry of Corporate Affairs, the Financial Statements and documents attached thereto, the Reports of the Auditors and the Board of Directors in respect of the Financial Year ended 31st March, 2014 have been prepared in accordance with the provisions of the Companies Act, 1956. With respect to the provisions of the Act, appropriate references have been made in this report of certain provisions which have become applicable.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10507065 |
02/05/2015 * |
2,651,200,000.00 |
ALLAHABAD BANK KOLKATA MAIN BRANCH |
14, INDIA EXCHANGE PLACE, KOLKATA, WEST BENGAL - 7 |
C55411896 |
|
2 |
10464734 |
21/03/2015 * |
135,500,000.00 |
ORIENTAL BANK OF COMMERCE |
OVERSEAS BRANCH, (LORD'S BUILDING), 7/1, LORD SIN |
C47487384 |
|
3 |
10381311 |
11/08/2014 * |
1,756,700,000.00 |
ALLAHABAD BANK |
KOLKATA MAIN BRANCH, 14, INDIA EXCHANGE PLACE, KO |
C19455369 |
|
4 |
10333016 |
12/02/2015 * |
759,000,000.00 |
DENA BANK |
BRABOURNE ROAD BRANCH, 16A, BRABOURNE ROAD, KOLKA |
C48791479 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.63.89 |
|
|
1 |
Rs.98.89 |
|
Euro |
1 |
Rs.72.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
RKH |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
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 |
|
45 |
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.