MIRA INFORM REPORT

 

 

Report No. :

327672

Report Date :

19.06.2015

 

IDENTIFICATION DETAILS

 

Name :

TRICOM FRUIT PRODUCTS LIMITED

 

 

Registered Office :

Gat No. 336-341, Village Andori, Taluka Khandala, Shirval, Pandarpur Road, Satara – 415521, Maharashtra

Tel. No.:

91-2169-266251/ 52/ 61

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

20.01.1995

 

 

Com. Reg. No.:

11-139099

 

 

Capital Investment / Paid-up Capital :

Rs. 170.941 Million

 

 

CIN No.:

[Company Identification No.]

L67120PN1995PLC139099

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Processing of Fruit Products.

 

 

No. of Employees :

Information declined by management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

 

Status :

Under Liquidation

 

 

Payment Behaviour :

--

 

 

Litigation :

Exist

 

 

Comments :

Subject was incorporated in 1995. However, company is under liquidation process as per the status shown in Registrar of Companies.

 

As per the financial of 2015, the Company has incurred huge accumulated losses from its operations which have eroded the networth of the company.

 

Since the company is under liquidation process, it can be considered for business dealings on fully safe and secured 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

 

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 DECLINED BY

 

Name :

Mr. Sunil Rawat

Designation :

Accounts Manager

Contact No.:

91-22-66907800

Date :

17.06.2015

 

 

LOCATIONS

 

Registered Office/ Factory :

Gat No. 336-341, Village Andori, Taluka Khandala, Shirval, Pandarpur Road, Satara – 415521, Maharashtra, India

Tel. No.:

91-2169-266251/ 52/ 61

Fax No.:

Not Available

E-Mail :

info@tricomfruitproducts.com

Website :

http://www.tricomfruitproducts.com

 

 

Pune Office :

Office No. 212, Ganaraj Market, Opposite Union Bank of India, Market Yard, Pune - 411037, Maharashtra, India

 

 

DIRECTORS

 

AS ON 31.03.2014

 

Name :

Mr. Chetan Kothari

Designation :

Chairman and Managing Director

Brief Resume :

A Chartered Accountant by profession, Mr. Kothari has rich experience spanning nearly two decades of experience in corporate affairs. A first generation entrepreneur, he has successfully set up a fast-growing IT-ITeS Company in the country. As a promoter of Tricom Fruit Products Limited, Mr. Kothari provides the overall strategic business direction to the Company.

Other Directorship :

Directorships in:

·         Tricom India Limited

·         Tricom Infotech (India) Private Limited

·         Tricom Infotech Solutions Limited

·         Tricom LPO Private Limited

·         eDATA Processing Private Limited (formerly known as Tricom I.T. Services Private Limited)

·         Tricom Data Processing Private Limited (formerly known as Mastiff Tech Private Limited)

·         Adilnath Finance Private Limited

·         Opec Share And Stock Brokers Private Limited

·         Gaparik Trade and Finance Resources Private Limited

 

 

Name :

Mr. P V. Naik

Designation :

Director

 

 

Name :

Mr. Paresh Pathak

Designation :

Director

Brief Resume :

Mr. Paresh Pathak is a Commerce Graduate with more than 20 years of experience in Business.

Other Directorship :

·         Directorships in:

·         Tricom India Limited

·         eDATA Processing Private Limited (formerly known as Tricom I.T. Services Private Limited)

·         Tricom Data Processing Private Limited (formerly known as Mastiff Tec Private Limited)

·         Tricom Infotech Solutions Limited

·         Welplace Portfolio And Financial Consultancy Services Limited

 

 

Name :

Mr. Rajesh Panamburkar

Designation :

Director

Brief Resume :

Mr. Rajesh Panamburkar is a Practicing Chartered Accountant by profession. His expertise lies in the areas of corporate advisory, management audit, finance and taxation.

Other Directorship :

Directorships In :

·         Tricom India Limited

 

 

Name :

Ms. Chetna Kothari

Designation :

Additional Director

Date of Appointment :

14.08.2014

Brief Resume :

She is a B.Com graduate from Mumbai University and a home maker by profession. Under the guidance and support of her husband, she has successfully held the position of a director in Companies like Adilnath Finance Private Limited and she is also a Promoter of Tricom Fruit Products Limited and Tricom India Limited. She recently appointed as woman Director in Tricom India Limited.

Other Directorship :

Directorships In :

·         Adilnath Finance Private Limited

·         Tricom India Limited

 

 

KEY EXECUTIVES

 

Name :

Mr. Sunil Rawat

Designation :

Accounts Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.03.2015

 

Category of Shareholder

Total No. of Shares

As a %

(A) Shareholding of Promoter and Promoter Group

 

 

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

1397387

8.17

http://www.bseindia.com/include/images/clear.gifBodies Corporate

933730

5.46

http://www.bseindia.com/include/images/clear.gifSub Total

2331117

13.64

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

2331117

13.64

(B) Public Shareholding

 

 

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

3628127

21.22

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 0.100 Million

1568448

9.18

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 0.100 Million

9121288

53.36

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

445070

2.60

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

445070

2.60

http://www.bseindia.com/include/images/clear.gifSub Total

14762933

86.36

Total Public shareholding (B)

14762933

86.36

Total (A)+(B)

17094050

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

 

 

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

17094050

100.00

 

 

 

 

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Promoter and Promoter Group

 

Sl. No.

Name of the Shareholders

Details of Shares held

No. of Shares held

As a %

1

Chetna Chetan Kothari

3,70,000

2.16

2

Foram Chetan Kothari

10,000

0.06

3

Nidhi Chetan Kothari

3,04,800

1.78

4

Adilnath Finance Private Limited

4,20,000

2.46

5

Tricom Infotech India Private Limited

2,500

0.01

6

Gaparik Trade and Finance Resources

4,82,500

2.82

7

Dinesh Patadia Financial and Investment

22,127

0.13

8

Rids Textiles Limited

6,603

0.04

9

Chetan S Kothari

5,86,875

3.43

10

Hiren S Kothari

125

0.00

11

Chetan Shantilal Kothari

1,25,587

0.73

Total

23,31,117

13.64

 

 

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Public and holding more than 1% of the total number of shares

 

Sl. No.

Name of the Shareholders

No. of Shares held

Shares as %

1

Atlanta Share Shopee Limited

217042

1.27

2

Bipin Kumar Sinha HUF

290900

1.70

3

Dhanashree Shreenivas Talwalkar

187500

1.10

4

Gandharv Syntex Private Limited

400000

2.34

5

IL & FS Trust Company Limited

625955

3.66

6

Kamlesh Vijaykumar Ganeriwala

280000

1.64

7

Limegreen Tradecom Private Limited

500000

2.92

8

Malti Rahul Bhatia

240000

1.40

9

Minal Rohit Shah

318096

1.86

10

Nilesh Chandulal Panchamia

250000

1.46

11

Premnath Amarnath Bhatia

240000

1.40

12

Rahul Premnath Bhatia

240000

1.40

13

Rajiv Bhatia

320000

1.87

14

Rajiv Premnath Bhatia

480000

2.81

15

Rohan Kamlesh Ganeriwala

188000

1.10

16

Satyabhama Vijaykumar Ganeriwala

238057

1.39

17

Vinod Kumar Kedia (HUF)

580000

3.39

Total

5595550

32.73

 

 

Details of Locked-in Shares

 

Sl. No.

Name of the Shareholders

No. of Shares

Locked-in Shares as %

1

Adilnath Finance Private Limited

4,20,000

2.46

2

Gaparik Trade And Finance Resour

4,80,000

2.81

3

Hemant Kumar Gualti

75,000

0.44

4

Malti Bhatia

1,50,000

0.88

5

Mini R Gulati

75,000

0.44

6

Nidhi Chetan Kothari

3,04,800

1.78

7

Nishi Gulati

75,000

0.44

8

Prem Bhatia

1,60,000

0.94

9

Rahul Bhatia

1,50,000

0.88

10

Rajiv Bhatia

3,20,000

1.87

11

Rajkumar Gulati

75,000

0.44

12

Rajkumar Gulati HUF

75,000

0.44

13

Chetna Kothari

3,60,000

2.11

Total

27,19,800

15.91

 

 

BUSINESS DETAILS

 

Line of Business :

Processing of Fruit Products.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Not Divulged

Countries :

Not Divulged

 

 

Imports :

 

Products :

Not Divulged

Countries :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

Information declined by management

 

 

Bankers :

Bank Name:

Not Divulged

Branch:

Not Divulged

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 A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         Bank of India

·         Bank of Baroda

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Term Loan

From Banks

0.151

196.630

From Financial Institution

514.280

0.000

SHORT TERM BORROWINGS

 

 

From Banks

0.000

203.015

 

 

 

Total

 

514.431

399.645

 

Banking Relations :

--

 

 

Auditors 1 :

 

Name :

J.L. Bhatt and Company

Chartered Accountants

Address :

Mumbai, Maharashtra, India

 

 

Auditors 2 :

 

Name :

Koshal and Associates

Chartered Accountants

Address :

Mumbai, Maharashtra, India

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Entities having significant influence over the Company :

·         Rids Textile Limited

·         Dinesh Patadia Finance and Investment Private Limited

·         Tricom India Limited

·         Adilnath Finance Private Limited

·         Trio Mercantile and Trading Limited

·         Tricom Infotech Solutions Limited

·         Tricom IT Services Private Limited

·         Tricom Data Processing Private Limited (Previously Known as Mastiff Tech Private Limited)

·         Tricom LPO Private Limited

·         Tricom Document Management Inc.

·         Tricom Software Services, Inc.

·         Tricom Litigation Coding Services, Inc.

·         Tricom Search Services, Inc.

·         Tricom Data Services, Inc.

·         Pacific Data Centers, Inc.

·         Tricom Infotech Solutions (Cyprus) Limited

·         Tricom Infotech Solutions, Inc.

·         Grand Imaging and Technology Inc.

·         Kothari Financial Services

·         Manshanti Enterprises

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Authorised Capital : Not Available

 

Issued, Subscribed & Paid-up Capital : Rs. 170.941 Million

 

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

25,000,000

Equity Shares

Rs. 10/- each

Rs. 250.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

15,939,050

Equity Shares

Rs. 10/- each

Rs. 159.391 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2015

31.03.2014

31.03.2013

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

170.941

159.391

159.391

(b) Reserves & Surplus

(511.531)

(466.171)

(71.643)

(c) Money received against share warrants

0.000

35.109

35.109

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

(340.590)

(271.671)

122.857

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

708.368

706.273

361.839

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

708.368

706.273

361.839

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

203.015

(b) Trade payables

179.137

178.330

94.618

(c) Other current liabilities

66.910

40.895

270.866

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

246.047

219.225

568.499

 

 

 

 

TOTAL

613.825

653.827

1053.195

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

577.684

599.297

613.851

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

1.419

1.419

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.090

0.090

0.100

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

1.504

1.527

1.499

(e) Other Non-current assets

1.710

0.613

0.810

Total Non-Current Assets

580.988

602.946

617.679

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

13.131

16.304

76.734

(c) Trade receivables

7.427

6.578

261.312

(d) Cash and cash equivalents

0.192

1.458

2.028

(e) Short-term loans and advances

5.716

6.537

13.237

(f) Other current assets

6.371

20.004

82.205

Total Current Assets

32.837

50.881

435.516

 

 

 

 

TOTAL

613.825

653.827

1053.195

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Revenue from Operations

2.771

11.011

190.098

 

 

Other Income

0.372

6.806

1.884

 

 

TOTAL                                    

3.143

17.817

191.982

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

1.014

2.675

54.752

 

 

Purchases of Stock-in-Trade

0.000

0.000

106.955

 

 

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

2.159

58.050

74.777

 

 

Employees benefits expense

1.705

4.231

12.781

 

 

Other expenses

9.603

200.086

25.579

 

 

TOTAL                                    

14.481

265.042

274.844

 

 

 

 

 

 

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

(11.338)

(247.225)

(82.862)

 

 

 

 

 

Less

FINANCIAL EXPENSES

57.282

3.860

125.103

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

(68.620)

(251.085)

(207.965)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

25.304

16.222

16.283

 

 

 

 

 

 

EXCEPTIONAL ITEMS

(5.720)

(127.214)

0.000

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX

(99.644)

(394.521)

(224.248)

 

 

 

 

 

Less

TAX                                                     

0.000

0.007

0.000

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX

(99.644)

(394.528)

(224.248)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

NA

1.477

11.027

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials and Packing Material

NA

0.000

0.048

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

 

 

 

 

Basic

(5.83)

(34.85)

(19.81)

 

Diluted

(5.02)

(25.92)

(14.73)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

0.829

223.606

 

 

 

 

Cash generated from operations

NA

16.842

(63.488)

 

 

QUARTERLY RESULTS

 

PARTICULARS

 

30.06.2014

30.09.2014

31.12.2014

31.03.2015

Type

1st Quarter

2nd Quarter

3rd Quarter

4th Quarter

Net Sales

0.810

0.080

0.700

1.190

Total Expenditure

2.700

2.630

2.750

6.400

PBIDT (Excl OI)

(1.890)

(2.550)

(2.050)

(5.210)

Other Income

0.000

0.040

0.040

0.300

Operating Profit

(1.890)

(2.510)

(2.010)

(4.910)

Interest

13.720

14.080

14.510

14.980

Exceptional Items

(5.720)

0.000

0.000

0.000

PBDT

(21.330)

(16.590)

(16.520)

(19.890)

Depreciation

6.390

6.370

6.380

6.180

Profit Before Tax

(27.720)

(22.960)

(22.900)

(26.070)

Tax

0.000

0.000

0.000

0.000

Provisions and contingencies

0.000

0.000

0.000

0.000

Profit After Tax

(27.720)

(22.960)

(22.900)

(26.070)

Extraordinary Items

0.000

0.000

0.000

0.000

Prior Period Expenses

0.000

0.000

0.000

0.000

Other Adjustments

0.000

0.000

0.000

0.000

Net Profit

(27.720)

(22.960)

(22.900)

(26.070)

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

(3595.96)

(3583.04)

(117.96)

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

(409.17)

(2245.25)

(43.59)

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(16.24)

(60.48)

(21.32)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.29

1.45

(1.83)

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

(2.08)

(2.60)

6.42

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.13

0.23

0.77

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

STOCK PRICES

 

Face Value

Rs. 10.00/-

 

 

Market Value

Rs. 3.66/-

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

159.391

159.391

170.941

Reserves & Surplus

(71.643)

(466.171)

(511.531)

Money received against share warrants

0.000

35.109

35.109

Share Application money pending allotment

0.000

0.000

0.000

Net worth

87.748

(271.671)

(305.481)

 

 

 

 

Long-term borrowings

361.839

706.273

708.368

Short term borrowings

203.015

0.000

0.000

Total borrowings

788.460

707.102

708.368

Debt/Equity ratio

8.986

(2.603)

(2.319)

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

190.098

11.011

2.771

 

 

(94.208)

(74.834)

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

190.098

11.011

2.771

Profit/ (Loss)

(224.248)

(394.528)

(99.644)

 

(117.96%)

(3583.04%)

(3595.96%)

 

 

 

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

No

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

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

No

32

Litigations that the firm/promoter involved in

Yes

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

LITIGATION DETAILS

 

HIGH COURT OF BOMBAY

 

CASE DETAILS

BENCH: BOMBAY

Presentation Date: 10.07.2014

Lodging No: CAL/315/2014    Filing Date: 10.07.2014     Reg. No.: CA/332/2014    Reg. Date: 19.08.2014

Main Matter

Lodging No: CPL/442/2013                                            Reg. No.: CP/424/2014 

Petitioner: STREAMLINE SHIPPING COMPANY PVT LTD                 Respondent: TRICOM FRUIT PRODUCTS LIMITED

Petn. Adv : RMP LEGAL (I2207)

District: MUMBAI

Bench: SINGLE

Status: Pre-Admission                                                                Category: CA-FOR OTHERS

Next Date: 19.06.2015                                                                Stage: COMPANY APPLN. FOR APPT. OF PROVISIONAL LIQUIDATOR

Coram: ACCORDING TO SITTING LIST

Act: Companies Act & Rules 1956         UNDER SECTION: 433, 434 439

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

2

10257599

26/03/2014 *

20,000,000.00

EDELWEISS ASSET RECONSTRUCTION COMPANY LIMITED

EDELWEISS HOUSE, OFF. C.S.T ROAD, KALINA, MUMBAI, MAHARASHTRA - 400098, INDIA

C38880522

3

10246630

26/03/2014 *

20,000,000.00

EDELWEISS ASSET RECONSTRUCTION COMPANY LIMITED

EDELWEISS HOUSE, OFF. C.S.T ROAD, KALINA, MUMBAI, MAHARASHTRA - 400098, INDIA

C19960954

4

10181161

26/03/2014 *

573,600,000.00

EDELWEISS ASSET RECONSTRUCTION COMPANY LIMITED

EDELWEISS HOUSE, OFF. C.S.T ROAD, KALINA, MUMBAI, MAHARASHTRA - 400098, INDIA

C19961184

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Fixed Deposits

46.440

31.044

Inter-corporate Deposits

122.902

111.675

Loans and advances from related parties

22.500

22.490

 

 

 

Total

 

191.842

165.209

 

 

OUTLOOK (AS ON 31.03.2014):

 

The Company is going to start its activities and also have confidence that in spite of many difficulties comes across industry will perform better in view of its strong fundamentals and its activity turn into better progress which meets expectations of investors.

 

 

CONTINGENT LIABILITIES:

 

Particulars

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

i) Bank Guarantees issued to Custom authorities /DGFT

5.443

5.443

ii) Appeals filed at different forums/ authorities in respect of disputed demands:

Income Tax

48.033

0.000


FIXED ASSETS:

 

·         Land

·         Vehicle

·         Furniture and Fixtures

·         Strapping machine

·         Weighing machine

·         Office Equipments

·         Computer and Equipments

·         Electrical Installation

·         Building

·         Factory Building

·         Laboratory Equipment

·         Plant and Machinery

 

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. 63.85

UK Pound

1

Rs. 101.00

Euro

1

Rs. 72.46

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

SAN

 

 

Report Prepared by :

BVA

 

 

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.