MIRA INFORM REPORT
|
Report No. : |
346425 |
|
Report Date : |
27.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
MEERA COTTON AND SYNTHETICS MILLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-401 and 402, Express Zone, Patel Vanika, Opposite Reliance Energy Dindoshi Centre, Western Express Highway, Malad (East), Mumbai – 400097, Maharashtra |
|
Tel. No.: |
91-20-32005768/ 67424600 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
12.04.1994 |
|
|
|
|
Com. Reg. No.: |
11-077662 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 44.994 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17120MH1994PTC077662 |
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|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM10272D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM8385J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Texturized Yarn, Woven and Knitted Fabrics and
Garments |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject was incorporated in the year 1994 and it is a manufacturer, exporter and Importer of Polyester Texturized yarn, knitted yarn, and twisted yarn. For the financial year ended 2014, company has reported dip of 14.40% in its revenue profile and profitability margins remains low at 0.71% during the year under a review. Rating takes into consideration extensive experience of promoters in textile segment supported by company’s established track record of business operations along with above average financial base and moderate debt protection metrics. Rating strength partially offset by company’s limited pricing power because of the commodity nature of its products and working capital intense nature of business operations. Trade relations are reported as fair. Payment terms are reported to be slow but 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 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BB+ |
|
Rating Explanation |
Inadequate-credit-quality and high credit risk |
|
Date |
26.12.2014 |
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
|
Name : |
Mr. Rohit |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-32005768 |
|
Date : |
24.10.2015 |
LOCATIONS
|
Registered Office : |
A-401 and 402, Express Zone, Patel Vanika, Opposite Reliance Energy Dindoshi Centre, Western Express Highway, Malad (East), Mumbai – 400097, Maharashtra, India |
|
Tel. No.: |
91-20-32005768/ 67424600 |
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Fax No.: |
91-22-67424601 |
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E-Mail : |
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|
Website : |
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Location: |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Factory : |
Survey No. 156/2 and 157/2, Near Government Boys Hostel, Village,
Surangi, Dadra Nagar Haveli, Silvassa – 396230, Dadra and Nagar Haveli (U.T),
India |
|
Location: |
Owned |
|
Locality: |
Industrial |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Jayesh Sevantilal Shah |
|
Designation : |
Director |
|
Address : |
301, Dwarkesh, Subhash Cross Lane,, Kandivali (West), Mumbai - 400067, Maharashtra, India |
|
Date of Birth/Age : |
20.07.1959 |
|
Date of Appointment : |
12.04.1994 |
|
PAN No.: |
AAEPS5649D |
|
DIN No.: |
00371635 |
|
|
|
|
Name : |
Mr. Narendrabhai Rasiklal Shah |
|
Designation : |
Managing Director |
|
Address : |
7003, Turning Point, Near L B Cinema, Ghoddod Road, Surat - 395001, Gujarat, India |
|
Date of Birth/Age : |
29.03.1959 |
|
Date of Appointment : |
05.02.1997 |
|
DIN No.: |
02613029 |
|
|
|
|
Name : |
Mr. Ritesh Suresh Shah |
|
Designation : |
Director |
|
Address : |
B/67 Vardhman Kutir Bldg,6th Floor, Opposite Jain Temple, Shankar Lane, Kandivali West, Mumbai -400067, Maharashtra, India |
|
Date of Birth/Age : |
08.09.1975 |
|
Date of Appointment : |
30.09.2011 |
|
PAN No.: |
ALTPS1668J |
|
DIN No.: |
02690691 |
|
|
|
|
Name : |
Mr. Jay Jayesh Shah |
|
Designation : |
Director |
|
Address : |
301-A / Dwarkesh, Subhash Cross Lane, Kandivali (West), Mumbai - 400067, Maharashtra, India |
|
Date of Birth/Age : |
24.03.1990 |
|
PAN No.: |
BWXPS7228E |
|
DIN No.: |
03597490 |
|
|
|
|
Name : |
Mr. Paurav Deepakkumar Shah |
|
Designation : |
Additional Director |
|
Address : |
C 203 Chanakya Apt, Mahavir Nagar, Dahnunkarwadi, New Link Road, Kandivali (West), Mumbai -400067, Maharashtra, India |
|
Date of Birth/Age : |
16.11.1979 |
|
Date of Appointment : |
05.04.2012 |
|
PAN No.: |
AFPPS64905 |
|
DIN No.: |
05221574 |
KEY EXECUTIVES
|
Name : |
Mr. Rohit |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Jayesh Seventilal Shah |
1776258 |
|
Veena Shah |
1255500 |
|
Meera J Shah |
300750 |
|
Jayesh S Shah (HUF) |
42000 |
|
Jay J Shah |
899850 |
|
Ramila Suresh Shah |
180000 |
|
Paurav D Shah |
45000 |
|
|
|
|
Total |
4499358 |
AS ON 27.01.2015
|
Names of Allottee (Equity Share) |
No. of Shares |
|
Jay Jayesh Shah |
457500 |
|
|
|
|
Total |
457500 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Texturized Yarn, Woven
and Knitted Fabrics and Garments |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Sudan |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· China |
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Terms : |
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Selling : |
L/C and Cheque |
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Purchasing : |
L/C and Cheque |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers and End Users
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No. of Employees : |
250 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
Financial Institution : |
· Reliance Capital Limited "H" Block 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai - 400710, Maharashtra, India |
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|
Auditors : |
|
|
Name : |
Ankur Shah and Associates Chartered Accountants |
|
Address : |
A-501, Rite Galaxy, Sodawala Lane, Borivali (West), Mumbai - 400092, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
BKYPS7180Q |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 60.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
49,56,858 |
Equity Shares |
Rs. 10/- each |
Rs. 49.569
Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,499,358 |
Equity Shares |
Rs. 10/- each |
Rs. 44.994
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 |
44.994 |
44.994 |
44.994 |
|
(b) Reserves & Surplus |
141.961 |
128.842 |
113.356 |
|
(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) |
186.955 |
173.836 |
158.350 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
177.993 |
203.077 |
217.098 |
|
(b) Deferred tax liabilities (Net) |
34.675 |
29.608 |
26.276 |
|
(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) |
212.668 |
232.685 |
243.374 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
214.249 |
174.133 |
159.585 |
|
(b)
Trade payables |
45.964 |
50.093 |
92.290 |
|
(c)
Other current liabilities |
33.032 |
28.000 |
9.291 |
|
(d)
Short-term provisions |
4.067 |
9.844 |
7.850 |
|
Total
Current Liabilities (4) |
297.312 |
262.070 |
269.016 |
|
|
|
|
|
|
TOTAL |
696.935 |
668.591 |
670.740 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
346.174 |
341.781 |
333.600 |
|
(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 |
0.334 |
0.000 |
0.288 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
346.508 |
341.781 |
333.888 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
174.937 |
161.780 |
121.425 |
|
(c)
Trade receivables |
132.847 |
127.740 |
172.700 |
|
(d)
Cash and cash equivalents |
12.100 |
7.984 |
10.648 |
|
(e)
Short-term loans and advances |
2.455 |
1.674 |
7.043 |
|
(f)
Other current assets |
28.088 |
27.632 |
25.036 |
|
Total
Current Assets |
350.427 |
326.810 |
336.852 |
|
|
|
|
|
|
TOTAL |
696.935 |
668.591 |
670.740 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
1719.159 |
2018.758 |
1649.154 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
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|
|
|
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|
Less |
EXPENSES |
|
|
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|
|
|
|
TOTAL |
|
|
NA |
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|
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|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
41.062 |
42.760 |
42.881 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
21.636 |
19.839 |
14.335 |
|
|
|
|
|
|
|
|
|
Less |
FOREX LOSS AND
ON SALE OF ASSETS |
|
|
1.348 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
19.426 |
22.921 |
27.198 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
7.001 |
4.848 |
5.667 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
12.425 |
18.073 |
21.531 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
71.272 |
74.744 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.296 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.76 |
4.02 |
4.79 |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
1900.000 |
|
|
|
|
|
Expected Sales (2015-2016): Rs. 2000.000 Million
The above information has been parted by Mr. Rohit (Accountant)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
30.645 |
28.000 |
9.291 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from used in Operations |
18.941 |
22.921 |
27.198 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
0.72 |
0.90 |
1.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.79 |
3.43 |
4.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.13 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.26 |
2.33 |
2.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18 |
1.25 |
1.25 |
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 |
44.994 |
44.994 |
44.994 |
|
Reserves & Surplus |
113.356 |
128.842 |
141.961 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
158.350 |
173.836 |
186.955 |
|
|
|
|
|
|
Long-term borrowings |
217.098 |
203.077 |
177.993 |
|
Short term borrowings |
159.585 |
174.133 |
214.249 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
9.291 |
28.000 |
30.645 |
|
Total
borrowings |
385.974 |
405.210 |
422.887 |
|
Debt/Equity
ratio |
2.437 |
2.331 |
2.262 |
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) |
|
Turnover |
1649.154 |
2018.758 |
1719.159 |
|
|
|
22.412 |
(14.841) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Turnover |
1649.154 |
2018.758 |
1719.159 |
|
Profit |
28.546 |
18.073 |
12.425 |
|
|
1.73% |
0.90% |
0.72% |
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 |
Yes |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
LODGING NO: ITXAL/166/2015 FILING DATE: 13.02.2015 REG. NO.: ITXAL/571/2015 REG.
DATE: 09.06.2015 |
|
PETITIONER: PRINCIPAL COMMISSIONER OF INCOME TAX
RESPONDENT: M/S MEERA COTTON AND SYNTHETICS MILLS PRIVATE
LIMITE PETN. ADV: ARVIND PINTO (I583) DISTRICT: MUMBAI |
|
BENCH: DIVISION STATUS: PRE-ADMISSION CATEGORY:
TAX APPEALS NEXT DATE: 21.11.2015 STAGE:
-- LAST CORAM: ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
|
ACT: income Tax Act, 1961
UNDER SECTION : 260A
|
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10547484 |
15/01/2015
* |
49,300,000.00 |
UNION
BANK OF INDIA |
BHIWANDI
BRANCH,GANPATI MANDIR BUILDING, PRABHU ALI,MANDAI,BHIWANDI, THANE -
421302, MAHARASHTRA, |
C42949206 |
|
2 |
10301304 |
26/07/2011
* |
150,000,000.00 |
UNION
BANK OF INDIA |
BHIWANDI
BRANCH, GANPATI MANDIR BUILDING, PRABHU |
B19526227 |
|
3 |
10258166 |
23/11/2010 |
16,400,000.00 |
RELIANCE
CAPITAL LTD |
"H"
BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI -
400710, MAHARASHTRA, INDIA |
B00992164 |
|
4 |
10174459 |
26/07/2011
* |
29,400,000.00 |
UNION
BANK OF INDIA |
BHIWANDI
BRANCH, GANPATI MANDIR BUILDING, PRABHU |
B18983833 |
|
5 |
10159152 |
26/07/2011
* |
24,700,000.00 |
UNION
BANK OF INDIA |
BHIWANDI
BRANCH, GANPATI MANDIR BUILDING, PRABHU |
B18983536 |
|
6 |
10105324 |
03/04/2008 |
12,500,000.00 |
UNION
BANK OF INDIA |
BHIWANDI
BRANCH, GANPATI MANDIR BUILDING, PRABHU |
A37869252 |
|
7 |
10102016 |
03/04/2008 |
15,000,000.00 |
UNION
BANK OF INDIA |
BHIWANDI
BRANCH, GANPATI MANDIR BUILDING, PRABHU |
A37869518 |
|
8 |
10063396 |
26/07/2011
* |
21,900,000.00 |
UNION
BANK OF INDIA |
BHIWANDI
BRANCH, GANPATI MANDIR BUILDING, PRABHU |
B18983346 |
|
9 |
10010124 |
26/07/2011
* |
12,000,000.00 |
UNION
BANK OF INDIA |
BHIWANDI
BRANCH, GANPATI MANDIR BUILDING, PRABHU |
B18983304 |
|
10 |
10010198 |
12/01/2015
* |
30,000,000.00 |
UNION
BANK OF INDIA |
BHIWANDI
BRANCH,GANPATI MANDIR BUILDING, PRABHU ALI,MANDAI,BHIWANDI, THANE - 421302,
MAHARASHTRA, |
C42754846 |
|
11 |
90158475 |
21/01/2009
* |
5,814,000.00 |
UNION
BANK OF INDIA |
BHIWANDI
BRANCH, GANPATI MANDIR BLDG., PRABHU ALI, MANDAI, BHIWANDI, THANE - 421302,
MAHARASHTRA, |
A58205725 |
|
12 |
80042093 |
29/01/2008
* |
124,945,000.00 |
UNION
BANK OF INDIA |
BHIWANDI
BRANCH, GANPATI MANDIR BUILDING, PRABHU |
A33720103 |
|
13 |
90158304 |
21/01/2009
* |
6,931,000.00 |
UNION
BANK OF INDIA |
BHIWANDI
BRANCH,, GANPATI MANDIR BLDG., PRABHU ALI, MANDAI, BHIWANDI, THANE - 421302,
MAHARASHTRA, |
A58205287 |
|
14 |
90158296 |
23/09/2004
* |
46,076,000.00 |
UNION
BANK OF INDIA |
BHIWADI
BRANCH; TRUST BUILDING 1ST FLOOR, BHIWANDI PRABHU ALI ;MANDAI, THANE -
421302, MAHARASHTRA, |
- |
|
15 |
90157925 |
23/09/2004
* |
9,000,000.00 |
UNION BANK
OF INDIA |
BHIWADI
BRANCH; TRUST BUILDING 1ST FLOOR, BHIWANDI PRABHU ALI; MANDAI, THANE -
421302, MAHARASHTRA, |
- |
|
16 |
90157828 |
12/01/2015
* |
8,500,000.00 |
UNION
BANK OF INDIA |
BHIWANDI
BRANCH,GANPATI MANDIR BUILDING, PRABHU ALI,MANDAI,BHIWANDI - 421302,
THANE, MAHARASHTRA, |
C42754671 |
|
17 |
90157823 |
23/09/2004
* |
5,000,000.00 |
UNION
BANK OF INDIA |
BHIWADI
BRANCH; TRUST BUILDING 1ST FLOOR, BHIWANDI PRABHU ALI ;MANDAI, THANE -
421302, MAHARASHTRA, |
- |
|
18 |
90156661 |
14/08/1997
* |
4,500,000.00 |
UNION
BANK OF INDIA |
BHIWADI
BRANCH; TRUST BUILDING 1ST FLOOR, BHIWANDI, THANE - 421302, MAHARASHTRA,
INDIA |
- |
|
19 |
90156643 |
15/01/2015
* |
243,000,000.00 |
UNION
BANK OF INDIA |
BHIWANDI
BRANCH,GANPATI MANDIR BUILDING, PRABHU ALI,MANDAI,BHIWANDI, THANE -
421302, MAHARASHTRA, |
C42755173 |
|
20 |
90156642 |
14/08/1997
* |
13,000,000.00 |
UNION
BANK OF INDIA |
BHIWADI
BRANCH; TRUST BUILDING 1ST FLOOR, BHIWANDI, THANE - 421302, MAHARASHTRA ,
INDIA |
- |
|
21 |
90156538 |
26/03/1997 |
2,000,000.00 |
THE
MENON CO-0P. BANK LIMITED |
C A O
PATEL SONY ARODE, 234; BELLASIS ROAD, MUMBAI - 400008, MAHARASHTRA, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Non-convertible debentures others |
25.000 |
25.000 |
|
Loans and advances from others |
9.018 |
13.596 |
|
|
|
|
|
Total |
34.018 |
38.596 |
CHANGE OF ADDRESS:
The Registered Office of the Company has been shifted from 301,
Dwarkeshshsubhash Lane, Kandivali (West), Mumbai – 400067, Maharashtra, India to
the present address w.e.f. 22.09.2011.
REVIEW OF OPERATION
During the year, the Company has turnover of Rs.1719.159 Million. The profit before depreciation and tax during the year has been Rs. 40.502 Million. The Directors are continuously looking for avenues for future growth of the Company.
OVERVIEW
The company was incorporated on 12-04-1994 and is an LSI engaged in the production and sales of texturised yarn, woven and knitted fabrics and garments. The industrial units of the company are located at Silvassa in the Union Territories of Dadra and Nagar Haveli and also at Bhiwandi in Maharashtra. The products of the Company are used as raw material for production of dress materials for end-apparel use.
FIXED ASSETS:
·
Land
·
Buildings
·
Office Building
·
Plant and Equipment
·
Other plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipment’s
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 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.64.96 |
|
|
1 |
Rs.99.55 |
|
Euro |
1 |
Rs.71.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ARC |
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 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.