MIRA INFORM REPORT

 

 

Report No. :

328385

Report Date :

27.06.2015

 

IDENTIFICATION DETAILS

 

Name :

MAHARASHTRA ENVIRO POWER LIMITED

 

 

Registered Office :

267 Gansh Phadnavis Bhantringular Par, Dharampeth, Nagpur - 440010, Maharashtra

Tel. No.:

91-712-2551952

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

20.01.2005

 

 

Com. Reg. No.:

11-150780

 

 

Capital Investment / Paid-up Capital :

Rs.41.089 Million

 

 

CIN No.:

[Company Identification No.]

U40105MH2005PLC150780

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

The company is engaged in providing service to Industries for effective management of Effluent and Hazardous waste.

 

 

No. of Employees :

3000 (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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established public limited company incorporated in the year 2005, having satisfactory track record.

 

It is engaged into waste treatment storage and disposal facility of construction of landfills.

 

As per director report, Vidarbha Enviro Protection Limited (VEPL) got amalgamated with the subject company with effect of 1st of January 2014.

 

Rating takes into consideration the company’s sound financial risk profile marked by strong net worth and healthy profit margin.

 

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

 

The company can be considered for business dealings 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

ICRA

Rating

Long term BBB-

Rating Explanation

Moderate degree of safety and moderate credit risk

Date

May, 2015

 

 

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 (GENERAL INFORMATION)

 

Name :

Ms. Poonam

Designation :

Admin

Contact No.:

91-712-7125000

Date :

22.06.2015

 

 

LOCATIONS

 

Registered Office :

267 Gansh Phadnavis Bhantringular Par, Dharampeth, Nagpur - 440010, Maharashtra

Tel. No.:

91-712-2551952

Fax No.:

91-712-2544039

Email :

info@smsl.co.in

Location :

Owned

Locality:

Commercial

 

 

Corporate Office:

20, IT Park, Paesodi, Nagpur - 440022, Maharashtra, India

Tel. No.:

91-712-6665000,6665200

Fax No.:

91-712-6665100

Website :

www.smsl.co.in

 

 

Site office :

Bharat Bazar Cpmmercial Complex, I Wing, 2nd Floor, Near API Corner, Chikalthana, Aurangabad, India

 

DIRECTORS

 

AS ON 20.09.2014

 

Name :

Mr. Asif Abu Muzzaser Hussain

Designation :

Whole-time director

Address :

Flat 704, BLDG-A, Gulmohar Horizan, Sn-15/3/1B/192 Kondhwa Bk, Pune, 411048, Maharashtra, India

Date of Birth/Age :

29.06.1957

Date of Appointment :

02.07.2011

DIN No.:

03533465

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

U40105MH2005PLC150780

MAHARASHTRA ENVIRO POWER LIMITED

Whole-time director

01/04/2013

02/07/2011

-

Active

NO

2

U74900MH2007PLC172774

SMS ENVOCARE LIMITED

Director

31/03/2013

25/07/2011

03/06/2014

Active

NO

3

U90001MH2011PLC223662

Enviroprotect Waste Management Limited

Director

04/11/2011

04/11/2011

-

Active

NO

4

U90000MH2011PLC224032

Envotech Waste Management Limited

Director

17/11/2011

17/11/2011

-

Active

NO

5

U40105MH2005PLC150784

VIDARBHA ENVIRO PROTECTION LIMITED

Director

28/09/2013

31/03/2013

-

Amalgamated

NO

6

U74999MH2006PTC166039

SMS WALUJ CETP PRIVATE LIMITED

Director

30/09/2013

01/04/2013

12/07/2014

Active

NO

7

U90001MH2013PLC246687

PONDA ENVOCARE LIMITED

Director

05/08/2013

05/08/2013

-

Active

NO

 

 

Name :

Mr. Chittaranjan Paresh Sarkar

Designation :

Whole-time director

Address :

Flat No-101 Ganga Prayag Apartment Mohan Nagar, Nagpur, 440001, Maharashtra, India

Date of Appointment :

01.01.2015

DIN No.:

06872506

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

U74999MH2005PTC154244

BUTIBORI CETP PRIVATE LIMITED

Whole-time director

01/06/2014

01/06/2014

01/01/2015

Active

NO

2

U90000MH2011PLC224032

Envotech Waste Management Limited

Additional director

20/09/2014

20/09/2014

-

Active

NO

3

U90001MH2013PLC246687

PONDA ENVOCARE LIMITED

Director

22/11/2014

22/11/2014

-

Active

NO

4

U40105MH2005PLC150780

MAHARASHTRA ENVIRO POWER LIMITED

Whole-time director

01/01/2015

01/01/2015

-

Active

NO

 

 

Name :

Mr. Shyam Vasant Dighe

Designation :

Director

Address :

199 Katherine Dr, N Huntingdon, 15642, , UNITED STATES OF AMERICA

Date of Appointment :

01.10.2014

DIN No.:

06924943

 

 

Name :

Mr. Avinash Shridhar Sankholkar

Designation :

Director

Address :

A 203 Shagun Tower Chs Ltd General, A K Vaidya Marg Near Dindoshi Depot Malad East, Mumbai, 400097, Maharashtra, India

Date of Appointment :

31.03.2015

DIN No.:

07110449

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

U91120MH2001NPL132741

IIT BOMBAY ALUMNI ASSOCIATION

Director

30/09/2014

30/09/2014

-

Active

NO

2

U40105MH2005PLC150780

MAHARASHTRA ENVIRO POWER LIMITED

Director

31/03/2015

31/03/2015

-

Active

NO

 

 

Name :

Mr. Madhusudan jain

Designation :

Whole-time director

Address :

Kumar Samrudhi P2/204 Tingre Nagar Road, Dighi Road Vishrantwadi, Pune, 411015, Maharashtra, India

Date of Appointment :

01.04.2015

DIN No.:

07129343

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 20.09.2014

 

Names of Shareholders

 

No. of Shares

Abhay Harakchand Sancheti

 

130111

Ajay Shaktikumar Sancheti

 

97556

Anand Shaktikumar Sancheti

 

97556

Bharti Abhay Sancheti

 

111

Savita Ajay Sancheti

 

111

Shruti Anand Sancheti

 

111

SMS Infrastrucyutr Limited, India

 

3783401

 

 

 

Total

 

4108957

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 20.09.2014

 

Category

Percentage

Bodies corporate

92.00

Other top fifty shareholders

8.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

The company is engaged in providing service to Industries for effective management of Effluent and Hazardous waste.

 

 

Products :

Not Available 

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash and Cheque

 

 

Purchasing :

Cash and Cheque

 

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 :

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 :

3000 (Approximately) 

 

 

Bankers :

Bank Name

Kotak Mahindra Bank Limited 

Branch

Nariman Point, Mumbai - 400021, 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

 

 

From Bank

 

 

Industrial Development bank of India

0.000

10.560

State Bank of India

62.766

45.744

State Bank of India (Formally State Bank of Indore)

50.794

27.125

Vehicle and Other Loans

 

 

ICICI Bank

1.315

1.718

Kotak Mahindra Bank

1.607

6.469

Tata Motor Finance Limited

0.051

0.297

Tata Capital

0.074

1.495

Membership Deposit

186.022

122.923

 

 

 

Total

302.629

216.331

 

Auditors :

 

Name :

C.R. Sagdeo and Company

Chartered Accountants

Address :

H.O. Prabhaniwas, Rahate colony, Jail road, Nagpur - 440022, Maharashtra, India

Tel. No.:

91-22-2424634/2447756/57

Fax No.:

91-22-25638437

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

AABFC9503D

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company:
  • SMS Infrastructure Limited

 

 

Related:
  • SMS Waluj CETP Private Limited
  • SMS Envocare Limited
  • Butibori CETP Private Limited
  • SMS Envoclean Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 20.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000000

Equity Shares

Rs.10/- each

Rs. 100.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4108957

Equity Shares

Rs.10/- each

Rs. 41.089 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

41.089

37.029

37.029

(b) Reserves & Surplus

665.210

393.806

422.462

(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)

706.299

430.835

459.491

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

553.358

237.945

324.750

(b) Deferred tax liabilities (Net)

0.000

36.372

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

47.067

10.810

8.431

Total Non-current Liabilities (3)

600.425

285.127

333.181

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

 

 

(b) Trade payables

22.308

53.346

29.932

(c) Other current liabilities

156.909

98.549

96.547

(d) Short-term provisions

91.105

50.570

22.660

Total Current Liabilities (4)

270.322

202.465

149.139

 

 

 

 

TOTAL

1577.046

918.427

941.811

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1210.368

620.122

757.123

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

46.172

61.085

5.365

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

31.455

0.000

18.315

(d)  Long-term Loan and Advances

13.910

51.730

16.472

(e) Other Non-current assets

6.368

7.747

0.000

Total Non-Current Assets

1308.273

740.684

797.275

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

12.350

10.007

5.871

(c) Trade receivables

149.724

106.019

103.900

(d) Cash and cash equivalents

17.891

12.458

7.874

(e) Short-term loans and advances

88.808

49.259

26.891

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

268.773

177.743

144.536

 

 

 

 

TOTAL

1577.046

918.427

941.811

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

703.217

520.655

388.523

 

Other Income

0.510

0.210

0.840

 

TOTAL

703.727

520.865

389.363

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Direct expenses

259.608

204.478

124.950

 

Exceptional Item

(12.439)

0.000

0.000

 

Extraordinary Item

(0.458)

(2.165)

0.000

 

Employees benefits expense

65.268

37.629

32.395

 

Other expenses

53.361

43.528

40.840

 

TOTAL

365.340

283.470

198.185

 

 

 

 

 

Less

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

338.387

237.395

191.178

 

 

 

 

 

Less

FINANCIAL EXPENSES

61.916

36.830

46.664

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

276.471

200.565

144.514

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

122.233

97.289

110.179

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

154.238

103.276

34.335

 

 

 

 

 

Less

TAX

62.228

55.925

14.219

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

92.010

47.351

20.116

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 22.00

13.00

5.00 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

152.993

98.549

N.A

Cash generated from operations

N.A

N.A

N.A

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

13.08

9.09

5.18

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

48.12

45.60

49.21

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

10.29

12.05

3.74

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.22

0.24

0.07

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.00

0.78

0.71

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.99

0.88

0.97

 

 

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

37.029

37.029

41.089

Reserves & Surplus

422.462

393.806

665.210

Net worth

459.491

430.835

706.299

 

 

 

 

long-term borrowings

324.750

237.945

553.358

Short term borrowings

0.000

0.000

0.000

Total borrowings

324.750

237.945

553.358

Debt/Equity ratio

0.707

0.552

0.783

 

 

 

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

388.523

520.655

703.217

 

 

34.009

35.064

 

 

 

 

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

388.523

520.655

703.217

Profit

20.116

47.351

92.010

 

5.18%

9.09%

13.08%

 

 

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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

CORPORATE INFORMATION

Maharashtra Enviro Power Limited is a closely held public company domicide in India and Incorporated under the provisions of the Companies Act. 1956. The company is a subsidiary of SMS infrastructure Limited, Nagpur. The Company is engaged in the business of management of hazardous industrial solid waste. The company has the expertise of providing total solution for scientific treatment and Disposal of solid industrial waste by the latest ecofriendly technologies.

 

AMALGAMATION OF VEPL WITH MEPL

Pursuant to The High Court order dated 6th December 201 Vidabha Enviro Protection Limited (VEPL) got amalgamated with the company w.e.f. 1st of January 2014. As per the sanetioned Scheme of Amalgamation, the authorized shares to the VEPL share capital stand increased to Rs. 100.00 Million and as a result of allotment of equity share to the VEPL shareholder the paid up capital has increased to Rs. 41.089 Million

 

REVIEW OF OPERATIONS

The company is engaged in providing service to Industries for effective management of Effluent and Hazardous waste. Upon merger of Vidharbha Enviro Protection Limited, the Company now has two unit one at Ranjangaon, Pune and the other at Butibori Nagar. During the year under report the 2nd land fill cell came into operation at Ranjangaon Unit. Net Revenue from operataions during the year stood at stood at Rs. 703.217 Million and the Net Profit at Rs. 92.010 Million from its two project, at Ranjangaon Pune and at Butibori, Nagpur. The Company has earned Rs. 12.439 from Westing House plasma Corporation for utilization of PGVR plant for anthracite test. During the Financial year 2014-2015 the company is planning to install Multi Effect Evaporated for the zero discharge of the effluent generated by diferent liquid waste streams. In additional to this the company intends to install Liquid Chamber for disposal of aqueous and liquid incinerable waste in additional to the plasma reactor.

 

 

UNSECURED LOAN

 

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

SMS Envocare Limited

8.008

0.000

SMS Infrastructure

242.721

21.614

 

 

 

Total

250.729

21.614

 

 

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10568321

18/03/2015

1,550,000.00

ICICI BANK LIMITED

ICICI BANK TOWERS, BANDRA KURLA COMPLEX, MUMBAI, MAHARASHTRA - 400051, INDIA

C53117974

2

10521321

28/08/2014

1,231,734.00

KOTAK MAHINDRA BANK LIMITED

27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E),MUMBAI, MAHARASHTRA - 400051, INDIA

C21860119

3

10406269

31/01/2013

12,065,882.00

KOTAK MAHINDRA BANK LIMITED

36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, M 
UMBAI, MAHARASHTRA - 400021, INDIA

B68885045

4

10346330

29/02/2012

2,601,000.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHA RASHTRA - 400001, INDIA

B36588358

5

10114493

10/06/2008

200,000,000.00

STATE BANK OF INDIA

INDUSTRIAL FINANCE BRANCH,, 5, SAI COMPLEX, AMRAVATI ROAD, NAGPUR, MAHARASHTRA - 440033, INDIA

A42295394

6

10115166

10/06/2008

116,000,000.00

STATE BANK OF INDORE

BANDAL CAPITAL, NEAR PMT BUS DEPOT, PAUD ROAD, KOTHRUD, PUNE, MAHARASHTRA - 411038, INDIA

A42722215

7

10087331

24/01/2008

116,000,000.00

STATE BANK OF INDORE

BANDAL CAPITAL, PAUD ROAD, KOTHRUD, PUNE, MAHARASHTRA - 411038, INDIA

A32326324

8

10080522

16/08/2007

200,000,000.00

STATE BANK OF INDIA

INDUSTRIAL FINANCE BRANCH, 5, SAI COMPLEX,, BHARAT NAGAR, AMRAVATI ROAD, NAGPUR, MAHARASHTRA - 440010, INDIA

A29134707

9

10066497

20/04/2007

563,000,000.00

STATE BANK OF INDIA (LEAD BANK) & ONE OTHER AS PER 
ANNEXURE 1

COMMERCIAL BRANCH,, A.B. ROAD, INDORE, MADHYA PRADESH - 452001, INDIA

A15167679

10

10037107

16/12/2014 *

200,000,000.00

STATE BANK OF INDIA

INDUSTRIAL FINANCE BRANCH, 5, SAI COMPLEX, BHARAT NAGAR, AMRAVATI ROAD, NAGPUR, MAHARASHTRA - 440010, INDIA

C39370473

 

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.63.60

UK Pound

1

Rs.100.09

Euro

1

Rs.71.23

 

 

INFORMATION DETAILS

 

Information Gathered by :

MAN

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

RKI

 

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

6

--LIQUIDITY

1~10

5

--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.