MIRA INFORM REPORT
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Report No. : |
343514 |
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Report Date : |
01.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
UTTAM FOOD INFRASTRUCTURE PARK PRIVATE LIMITED |
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Registered
Office : |
57, Mulji House, Barouch Street, Carnac Bunder, Mumbai –
400009, Maharashtra |
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Mobile No.: |
91-9833065739 (Mr. Yogesh Gurav) |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
26.08.2005 |
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Com. Reg. No.: |
11-155688 |
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Capital
Investment / Paid-up Capital : |
Rs.100.000 Million |
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|
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CIN No.: [Company Identification
No.] |
U29250MH2005PTC155688 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMU04789B |
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PAN No.: [Permanent Account No.] |
AAACU8035E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and supplier of biscuits. |
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No. of Employees
: |
80 (Approximately) |
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 400000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2005 and it is a manufacturer and supplier of biscuits. For the financial year ended 2014, company possesses satisfactory operational performance and it has maintain decent profitability margins at 9.59%. Rating takes into consideration of its sound financial profile marked by comfortable capital structure and adequate debt protection metrics of the company. However, rating strengths are partially offset by the company's modest scale of operations and customer concentration risks in its revenue profile. Trade relations are reported as .fair. Payment terms are reported to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. |
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 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term bank facilities: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
19.05.2015 |
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
31-03-2015.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Yogesh Gurav |
|
Designation : |
Accountant |
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Contact No.: |
91-9833065739 |
|
Date : |
01.10.2015 |
LOCATIONS
|
Registered Office : |
57, Mulji House, Barouch Street, Carnac Bunder, Mumbai –
400009, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9833065739 (Mr. Yogesh Gurav) |
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Fax No.: |
Not Available |
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E-Mail : |
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Location: |
Rented |
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Locality: |
Commercial |
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Factory : |
Located at
|
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Tel. No.: |
91-2192-300116 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Praveen Uttamchand Miglani |
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Designation : |
Director |
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Address : |
8/34 Shyam Niwas, Bhulabhai Desai Road, Mumbai - 400026, Maharashtra,
India |
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Date of Appointment : |
26.08.2015 |
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DIN No.: |
00138152 |
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Other
Directorship:
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Name : |
Mr. Parikshit Praveenkumar Miglani |
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Designation : |
Director |
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Address : |
Shyam Niwas, B. Desai Road, Mumbai - 400026, Maharashtra,
India |
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Date of Appointment : |
26.08.2015 |
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DIN No.: |
00385280 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Yogesh Gurav |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Praveen Uttamchand Miglani |
5000000 |
50.00 |
|
Niraj Miglani |
3000000 |
30.00 |
|
Parikshit Praveenkumar Miglani |
2000000 |
20.00 |
|
Total |
10000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and supplier of biscuits. |
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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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Retailer
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No. of Employees : |
80 (Approximately) |
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Bankers : |
Union Bank of India, Connaught Place Branch, F14/15,Connaught Place, New Delhi - 110001, India
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Facilities : |
(Rs.
In Million)
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Auditors : |
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Name : |
Lalit Mehta Chartered Accountant |
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Address : |
101 Appolo Arcade, R K Singh Marg, Opposite Parsi Panchayat Road, Andheri (East), Mumbai – 400069, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABPM6331K |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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(Associates of the
Company / Enterprises over which key management personnel and / or their
relatives exercise significant influence): |
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CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10200000 |
Equity Shares |
Rs.10/- each |
Rs. 102.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000
Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
100.000 |
100.000 |
100.000 |
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(b) Reserves &
Surplus |
41.749 |
25.072 |
9.315 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
141.749 |
125.072 |
109.315 |
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(3) Non-Current
Liabilities |
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|
|
|
(a) long-term borrowings |
1.219 |
23.233 |
125.947 |
|
(b) Deferred tax
liabilities (Net) |
27.932 |
26.283 |
25.118 |
|
(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) |
29.151 |
49.516 |
151.065 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
101.646 |
97.274 |
21.057 |
|
(b) Trade payables |
0.000 |
0.000 |
0.000 |
|
(c) Other current
liabilities |
0.158 |
1.046 |
5.871 |
|
(d) Short-term provisions |
12.486 |
10.056 |
0.000 |
|
Total Current Liabilities
(4) |
114.290 |
108.376 |
26.928 |
|
|
|
|
|
|
TOTAL |
285.190 |
282.964 |
287.308 |
|
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|
|
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II.
ASSETS |
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|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
243.441 |
258.698 |
263.741 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.912 |
1.493 |
1.219 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
245.353 |
260.191 |
264.960 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.691 |
0.744 |
0.580 |
|
(c) Trade receivables |
9.939 |
8.897 |
9.600 |
|
(d) Cash and cash
equivalents |
14.116 |
0.546 |
3.316 |
|
(e) Short-term loans and
advances |
15.091 |
12.586 |
8.852 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
39.837 |
22.773 |
22.348 |
|
|
|
|
|
|
TOTAL |
285.190 |
282.964 |
287.308 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
CONVERSION
CHARGES |
173.941 |
169.611 |
198.023 |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
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|
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|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
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|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
16.677 |
15.756 |
5.945 |
|
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|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
1.67 |
NA |
NA |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.73 |
0.96 |
1.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.35 |
0.21 |
0.83 |
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 |
100.000 |
100.000 |
100.000 |
|
Reserves & Surplus |
9.315 |
25.072 |
41.749 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
109.315 |
125.072 |
141.749 |
|
|
|
|
|
|
long-term borrowings |
125.947 |
23.233 |
1.219 |
|
Short term borrowings |
21.057 |
97.274 |
101.646 |
|
Total borrowings |
147.004 |
120.507 |
102.865 |
|
Debt/Equity ratio |
1.345 |
0.964 |
0.726 |
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) |
|
Conversion charges |
198.023 |
169.611 |
173.941 |
|
|
|
(14.348) |
2.553 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Conversion charges |
198.023 |
169.611 |
173.941 |
|
Profit |
5.945 |
15.756 |
16.677 |
|
|
3.00% |
9.29% |
9.59% |
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 |
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been
shifted from Uttam House, Ground Floor, 69 P D Mello Road, Mumbai
-400009, Maharashtra, India to the present address
w.e.f. 29.03.2010
OPERATIONS:
During the year the Company has received conversion charges Rs.173.941 Million and earned net Profit of Rs.16.677 Million after depreciation and taxation (including Deferred Tax) which is carried to Balance sheet.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM BORROWING |
|
|
|
Rupee term loans from others |
1.000 |
2.832 |
|
SHORT TERM
BORROWING |
|
|
|
Other loans and Advances |
0.000 |
75.919 |
|
Loans and advances from directors |
1.541 |
0.000 |
|
Total |
2.541 |
78.751 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10259131 |
10/11/2010 |
80,000,000.00 |
BANK OF INDIA |
MUMBAI MID CORPORATE BRANCH, 70/80, M.G. ROAD,, B |
B02378461 |
|
2 |
10006564 |
10/11/2010 * |
240,000,000.00 |
BANK OF INDIA |
MUMBAI MID CORPORATE BRANCH, 70/80, M.G. ROAD,, B |
B02379246 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Other equipments
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.65.74 |
|
UK Pound |
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.73.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--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.