MIRA INFORM REPORT
|
Report No. : |
319671 |
|
Report Date : |
05.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
IDEAL MOVERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
50, Jawaharlal Nehru Road, 11th Floor,Kolkata-70007, West Bengal |
|
Tel. No.: |
91-33-22821548/0513/5410 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
23.02.2000 |
|
|
|
|
Com. Reg. No.: |
21-091199 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 44.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109WB2000PTC091199 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI0662C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in logistics services. |
|
|
|
|
No. of Employees
: |
7000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1900000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of “Ideal Group”. It is an established company
having moderate track. The company possesses a moderate financial profile marked by modest networth
base, aggressive capital structure owing to high financial leverage coupled
with large working capital intensive operations. Management has witnessed a slight decline in its revenue base, whereas
a significant decline is reported in its net profitability during FY14. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. In view of experienced promoters, the company can be considered for
business dealings with caution. |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
CRISIL |
|
Rating |
Long term rating “BB+” |
|
Rating Explanation |
High degree of safety regarding timely servicing of financial
obligation |
|
Date |
16.01.2015 |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Mahender Singh |
|
Designation : |
Accountant |
|
Contact No.: |
91-33-22821548 |
|
Date : |
22.04.2015 |
LOCATIONS
|
Registered Office : |
50, Jawaharlal Nehru Road, 11th Floor,Kolkata-70007, West Bengal, India |
|
Tel. No.: |
91-33-22821548/0513/5410 |
|
Fax No.: |
91-33-22821564 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Branch office : |
201 and 202, Kakad Bhavan, 2nd Floor, Bandra (West),
Mumbai-400050, Maharashtra, India |
|
|
|
|
Branches : |
Located at :
|
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Srawan Kumar
Himatsingka |
|
Designation : |
Director |
|
Address : |
20, Mandeville Gardens, Kolkata-700019,
West Bengal, India |
|
Date of Birth/Age : |
02.05.1950 |
|
Date of Appointment : |
23.02.2000 |
|
DIN No.: |
00114412 |
|
|
|
|
Name : |
Mr. Tirthraj Himatsingka |
|
Designation : |
Director |
|
Address : |
19B, Mandeville Gardens, Kolkata-700019, West Bengal, India |
|
Date of Birth/Age : |
30.11.1959 |
|
Qualification : |
M.B.M |
|
Experience : |
20 Years |
|
Date of Appointment : |
23.02.2000 |
|
DIN No.: |
00114434 |
|
|
|
|
Name : |
Mr. Nakul Himatsingka |
|
Designation : |
Director |
|
Address : |
20, Mandeville Gardens,
Kolkata-700019, West Bengal, India |
|
Date of Birth/Age : |
26.12.1976 |
|
Date of Appointment : |
23.02.2000 |
|
DIN No.: |
00114503 |
|
|
|
|
Name : |
Mrs. Divya Himatsingka |
|
Designation : |
Director |
|
Address : |
20, Mandeville Gardens,
Kolkata-700019, West Bengal, India |
|
Date of Birth/Age : |
04.09.1975 |
|
Qualification : |
B.com |
|
Experience : |
12 Years |
|
Date of Appointment : |
01.04.2007 |
|
DIN No.: |
00114525 |
|
|
|
|
Name : |
Mr. Raghav Himatsingka |
|
Designation : |
Director |
|
Address : |
19B, Mandeville Gardens, Kolkata-700019, West Bengal, India |
|
Date of Birth/Age : |
26.08.1985 |
|
Qualification : |
M.S. |
|
Experience : |
3 Years |
|
Date of Appointment : |
22.03.2010 |
|
DIN No.: |
02701329 |
KEY EXECUTIVES
|
Name : |
Mr. Mahender Singh |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Srawan Kumar Himatsingka |
|
431200 |
|
Tirthraj Himatsingka |
|
429880 |
|
Nakul Himatsingka |
|
431200 |
|
Ideal Financing Corporation Limited, India |
|
431200 |
|
Ideal Auto Credit Limited, India |
|
330000 |
|
Rama Himatsingka |
|
406120 |
|
Raghav Himatsingka |
|
51370 |
|
Keshav Himatsingka |
|
36630 |
|
Kanak Himatsingkav |
|
431200 |
|
Divya Himatsingka |
|
431200 |
|
Ideal Real Estate Private Limited, India |
|
431200 |
|
Ideal Resources Private Limited, India |
|
431200 |
|
Ideal Dealers Private Limited, India |
|
127600 |
|
Total |
|
4400000 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
39.80 |
|
Directors or relatives of Directors |
60.20 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in logistics services. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
|
||||
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Others
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No. of Employees : |
7000 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
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Financial
Institution : |
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Auditors : |
|
|
Name : |
S R B C and Company LLP Chartered Accountants |
|
Address : |
Kolkata, West Bengal, India |
|
PAN No.: |
ACHFS9117R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises owned by
Key Management Personnel or their relatives : |
|
|
|
|
|
Partnership Firm : |
Ideal Minerals |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,400,000 |
Equity Shares |
Rs.10/- each |
Rs.44.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,400,000 |
Equity Shares |
Rs.10/- each |
Rs.44.000 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 |
44.000 |
40.000 |
30.000 |
|
(b) Reserves & Surplus |
607.722 |
548.807 |
386.057 |
|
(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) |
651.722 |
588.807 |
416.057 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3859.791 |
4324.361 |
4162.808 |
|
(b) Deferred tax liabilities
(Net) |
150.628 |
149.191 |
135.114 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
10.874 |
8.295 |
5.452 |
|
Total
Non-current Liabilities (3) |
4021.293 |
4481.847 |
4303.374 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1587.613 |
1045.620 |
950.181 |
|
(b) Trade payables |
203.614 |
192.674 |
244.012 |
|
(c) Other current liabilities |
1219.153 |
995.135 |
890.890 |
|
(d) Short-term provisions |
1.534 |
8.394 |
6.194 |
|
Total
Current Liabilities (4) |
3011.914 |
2241.823 |
2091.277 |
|
|
|
|
|
|
TOTAL |
7684.929 |
7312.477 |
6810.708 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3368.034 |
3677.021 |
3757.118 |
|
(ii) Intangible Assets |
2.963 |
3.862 |
4.044 |
|
(iii) Capital work-in-progress |
9.846 |
54.603 |
51.534 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4.816 |
4.816 |
4.816 |
|
(c) Deferred tax assets (net) |
127.643 |
161.529 |
100.622 |
|
(d) Long-term Loan and Advances |
2.770 |
26.869 |
35.146 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
3516.072 |
3928.700 |
3953.280 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
16.669 |
27.339 |
19.939 |
|
(c) Trade receivables |
3745.257 |
3131.100 |
2264.709 |
|
(d) Cash and cash equivalents |
54.653 |
27.863 |
52.088 |
|
(e) Short-term loans and
advances |
225.188 |
197.081 |
520.669 |
|
(f) Other current assets |
127.090 |
0.394 |
0.023 |
|
Total
Current Assets |
4168.857 |
3383.777 |
2857.428 |
|
|
|
|
|
|
TOTAL |
7684.929 |
7312.477 |
6810.708 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income (Gross) |
5877.230 |
6251.098 |
5074.703 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
NA |
1258.144 |
1008.981 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
NA |
655.431 |
529.559 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
568.695 |
602.713 |
479.422 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
564.191 |
558.914 |
453.303 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
4.504 |
43.799 |
26.119 |
|
|
|
|
|
|
|
Less |
TAX |
1.542 |
14.076 |
8.375 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
2.962 |
29.723 |
17.744 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
64.064 |
44.287 |
33.543 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.000 |
2.972 |
1.770 |
|
|
Dividend |
0.000 |
6.000 |
4.500 |
|
|
Tax on Dividend |
0.046 |
0.973 |
0.730 |
|
|
Total
(M) |
0.046 |
9.945 |
7.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
66.980 |
64.065 |
44.287 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Stores parts |
0.000 |
3.094 |
0.000 |
|
|
TOTAL
IMPORTS |
0.000 |
3.094 |
0.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.67 |
-- |
-- |
Expected Sales (2014-15) : Rs.7000.000 Million
The above information has been parted by Mr. Mahender Singh (Accountant)
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.05 |
0.48 |
0.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.06 |
0.62 |
0.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.07 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
8.36 |
9.12 |
12.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38 |
1.51 |
1.37 |
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 |
30.000 |
40.000 |
44.000 |
|
Reserves & Surplus |
386.057 |
548.807 |
607.722 |
|
Net
worth |
416.057 |
588.807 |
651.722 |
|
|
|
|
|
|
long-term borrowings |
4162.808 |
4324.361 |
3859.791 |
|
Short term borrowings |
950.181 |
1045.620 |
1587.613 |
|
Total
borrowings |
5112.989 |
5369.981 |
5447.404 |
|
Debt/Equity
ratio |
12.289 |
9.120 |
8.358 |
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 |
5074.703 |
6251.098 |
5877.230 |
|
|
|
23.182 |
-5.981 |
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 |
5074.703 |
6251.098 |
5877.230 |
|
Profit |
17.744 |
29.723 |
2.962 |
|
|
0.35% |
0.48% |
0.05% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
(Rs.
In Million)
|
UNSECURED LOAN |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Long Term
Borrowing |
|
|
|
Loans repayable on demand from others |
359.705 |
891.090 |
|
Loans and advances from directors |
24.434 |
37.598 |
|
Loans and advances from others |
2118.050 |
1459.113 |
|
Short Term
Borrowing |
|
|
|
Term loans from others |
202.981 |
0.000 |
|
Intercorporate deposits |
0.000 |
74.363 |
|
Loans and advances from related parties |
267.088 |
88.704 |
|
Total |
2972.258 |
2550.868 |
BUSINESS OPERATIONS
The Company has
achieved a turnover Rs. 61.353 Million and other Income Rs.1.157 Million during
the current Financial Year against Rs.501.16 lacs and other Income Rs.0.630
Million in the Previous Year registering an increase in turnover of about over
the previous year.
However Gross Profit
for the year was Rs 602.713 Million as against from previous years Rs 479.422
Million. The turnover of the Company has been affected adversely due to global
economic meltdown starting second half of the year. The economic meltdown
resulted in sluggish demand, loss of turnover and severe impact on the profit
of the Company However, the result during the current accounting year are
expected to be even better
NATURE OF OPERATIONS
Subject is a provider of transportation services catering to reputed steel manufacturers, oil producers and project engineering companies with a focus on providing specialized logistics services to organizations in the core sector and it also provides cranes on rent to its customers.
CONTINGENT
LIABILITIES
(Rs.
In Million)
|
Particular |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Outstanding Bank Guarantees |
66.793 |
30.348 |
|
Total |
66.793 |
30.348 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10557533 |
17/02/2015 |
215,000,000.00 |
RELIANCE CAPITAL LTD |
"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City,
Koparkhairne, Navi Mumbai, Maharashtra - 400710, INDIA |
C47979349 |
|
2 |
10553850 |
17/01/2015 |
220,000,000.00 |
Axis Bank Limited |
"Trishul, Third Floor, Opp. Samartheshwar temple, Law Garden,
Ellisbridge,, Ahmedabad, Gujarat - 380006, INDIA |
C46020087 |
|
3 |
10529199 |
21/10/2014 |
50,000,000.00 |
RELIANCE CAPITAL LTD |
"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City,
Koparkhairne, Navi Mumbai, Maharashtra - 400710, INDIA |
C32312753 |
|
4 |
10526919 |
29/09/2014 |
100,000,000.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City,
Koparkhairne, Navi Mumbai, Maharashtra - 400710, INDIA |
C30471924 |
|
5 |
10514389 |
04/07/2014 |
1,400,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
C16019465 |
|
6 |
10527711 |
29/05/2014 |
66,113,195.00 |
TATA MOTORS FINANCE LIMITED |
C/O. TATA MOTORS LIMITED, 3RD FLOOR,, NANAVATI MA |
C31085764 |
|
7 |
10527753 |
16/04/2014 |
7,699,544.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C26593525 |
|
8 |
10495815 |
28/03/2014 |
64,987,095.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City,
Koparkhairne, Navi Mumbai, Maharashtra - 400710, INDIA |
C04795506 |
|
9 |
10495394 |
27/02/2014 |
147,600,000.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City,
Koparkhairne, Navi Mumbai, Maharashtra - 400710, INDIA |
C04699179 |
|
10 |
10465589 |
19/10/2013 |
294,200,000.00 |
Bank of India |
Surat Mid Corporate Branch, BOI Building, 1st Floor, Near BSNL Office,
Ghoddod Road,, Surat, Gujarat - 395007, INDIA |
B91716639 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Office equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No 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.63.57 |
|
|
1 |
Rs.97.98 |
|
Euro |
1 |
Rs.70.53 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
33 |
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.