MIRA INFORM REPORT
|
Report No. : |
347207 |
|
Report Date : |
28.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAITHAN ISPAT LIMITED |
|
|
|
|
Formerly Known
As : |
MAL INDUSTRIES
LIMITED |
|
|
|
|
Registered
Office : |
16, Strand Road, Diamond Heritage, Kolkata – 700001, West Bengal |
|
Tel. No.: |
91-33-39877200 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
27.08.2003 |
|
|
|
|
Com. Reg. No.: |
21-096854 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2123.414 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109WB2003PLC096854 |
|
|
|
|
IEC No.: |
0204028752 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALM05936A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCM7360B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Sponge Iron, Billets and Heavy Section Steel. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company incorporated during 2010 having
moderate track. It is engaged in manufacturing of Iron and Steel. Financial position of the company is weak. It has incurred huge
accumulated losses which has fully eroded its entire networth. Their business is active. Payment terms are reported as slow. The company can be considered for business dealings on safe and
secured trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
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 |
CARE |
|
Rating |
Long-term bank facilities: “D” |
|
Rating Explanation |
The company is in default or expected to be
in default soon. |
|
Date |
25.03.2015 |
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 DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-33-39877200)
LOCATIONS
|
Registered Office : |
16, Strand Road, Diamond Heritage, Kolkata – 700001, West Bengal,
India |
|
Tel. No.: |
91-33-39877200 |
|
Fax No.: |
91-33-39877201 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head / Corporate
Office : |
PO. Chirkunda,
District Dhanbad - 828202, |
|
Tel. No.: |
91-6540-293344 (4
Lines) / 273005 |
|
Fax No.: |
91-6540-292191 |
|
E-Mail : |
|
|
|
|
|
Factory: |
Kalinganagar
Industrial Complex, Village Dasmania, |
|
Tel. No.: |
91-6726-304000 |
|
Fax No.: |
91-6726-304001 |
|
E-Mail : |
DIRECTORS
As on 27.09.2013
|
Name : |
Mr. Basant Kumar Agarwalla |
|
Designation : |
Director |
|
Address : |
2C, Mangalam, 35, Ahiri Pukur Road, Kolkata – 700019, West Bengal,
India |
|
Date of Birth/Age : |
16.02.1946 |
|
Qualification : |
B.COM |
|
Date of Appointment : |
27.08.2003 |
|
PAN No.: |
ACMPA9293K |
|
DIN No.: |
00129140 |
|
|
|
|
Name : |
Mr. Vishal Agarwalla |
|
Designation : |
Managing director |
|
Address : |
2-C, Mangalam, 35, Ahirr Pukur Road,
Kolkata – 700019, West Bengal, India |
|
Date of Birth/Age : |
16.09.1971 |
|
Qualification : |
B.TECH |
|
Date of Appointment : |
31.05.2007 |
|
PAN No.: |
ACMPA9306M |
|
DIN No.: |
00129040 |
|
|
|
|
Name : |
Mr. Aditya Agarwalla |
|
Designation : |
Director |
|
Address : |
2-C, Mangalam, 35, Ahirr Pukur
Road, Kolkata – 700019, West Bengal, India |
|
Date of Birth/Age : |
28.12.1974 |
|
Qualification : |
MBA |
|
Date of Appointment : |
15.06.2004 |
|
PAN No.: |
ACMPA9304K |
|
DIN No.: |
00140683 |
|
|
|
|
Name : |
Harukazu Yamaguchi |
|
Designation : |
Director |
|
Address : |
6-3-2-601, Kachidoki Chuo-Ku, Tokyo, 104005 |
|
Date of Birth/Age : |
09.12.1962 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
03535391 |
|
|
|
|
Name : |
Shinji Yamana |
|
Designation : |
Alternate Director |
|
Address : |
Great World Serviced Apartment, 2 Kim Seng Walk, Singapore, 239401 |
|
Date of Birth/Age : |
29.04.1969 |
|
Date of Appointment : |
25.02.2013 |
|
DIN No.: |
06496635 |
KEY EXECUTIVES
|
Name : |
Mr. Ashok Sipani |
|
Designation : |
Secretary |
|
Address : |
106, K C, Singha Road, Howrah - 711102, West Bengal, India |
|
Date of Birth/Age : |
06.12.1973 |
|
Date of Appointment : |
01.08.2007 |
|
PAN No.: |
AKOPS4110O |
MAJOR SHAREHOLDERS
As on 26.09.2014
SHAREHOLDING AND ALLOTTEES DETAILS FILE ATTACHED.
As on 26.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
25.23 |
|
Bodies corporate |
68.16 |
|
Directors or relatives of Directors |
6.56 |
|
Others |
0.05 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Sponge Iron, Billets and Heavy Section Steel. |
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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 : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· State Bank of India, Corporate Accounts Group Branch, 34, J L Nehru Road, Kolkata - 700071, West Bengal, India |
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Facilities : |
NOTE Pari pasu 1st charge on all movable and
immovable assets of the company, both present and future which is pooled and
charges thereon created to secure all the facilities of the company which
will rank pari pasu with the other lenders. All the aforesaid facilities are
also secured by personal guarantees of Mr. Basant Kumar Agarwalla, Mr.Vishal
Agarwalla and Aditya Agarwalla, the promoter directors of the Company. |
|
Auditors : |
|
|
Name : |
SRBC and Company Chartered Accountants |
|
Address : |
22, Camac Street, 3rd Floor, Block C, Kolkata- 700016, West Bengal, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ABSFS4151K |
|
|
|
|
Other Related
Parties : |
· Orix Investment and Management Private Limited · Mangalam Construction Private Limited · Maithan International · Maithan Ceramic Limited · Maithan Alloys Limited |
CAPITAL STRUCTURE
After 26.09.2014
Authorised Capital: Rs.5750.000 Million
Issued, Subscribed & Paid-up Capital: Rs.5677.940
Million
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
185,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 1850.000 Million |
|
30,000,000 |
Preference Shares |
Rs.10/- each |
Rs. 300.000 Million |
|
|
Total |
|
Rs. 2150.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
182,341,374 |
Equity Shares |
Rs.10/- each |
Rs. 1823.414 Million |
|
30,000,000 |
Preference Shares |
Rs.10/- each |
Rs. 300.000 Million |
|
|
Total |
|
Rs. 2123.414
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 |
2123.414 |
2111.198 |
1811.198 |
|
(b) Reserves & Surplus |
(4554.763) |
(3564.487) |
(2297.560) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
285.000 |
|
Total
Shareholders’ Funds (1) + (2) |
(2431.349) |
(1453.289) |
(201.362) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
4476.061 |
5442.148 |
5676.186 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.887 |
59.518 |
55.918 |
|
(d) long-term
provisions |
4.230 |
4.124 |
6.461 |
|
Total Non-current
Liabilities (3) |
4481.178 |
5505.790 |
5738.565 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1174.443 |
905.536 |
381.549 |
|
(b) Trade
payables |
623.364 |
875.382 |
982.090 |
|
(c) Other
current liabilities |
2338.559 |
1105.028 |
386.889 |
|
(d) Short-term provisions |
2.153 |
2.287 |
0.982 |
|
Total Current
Liabilities (4) |
4138.519 |
2888.233 |
1751.510 |
|
|
|
|
|
|
TOTAL |
6188.348 |
6940.734 |
7288.713 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
5040.417 |
5395.093 |
5759.861 |
|
(ii)
Intangible Assets |
0.093 |
0.249 |
1.334 |
|
(iii)
Capital work-in-progress |
79.425 |
77.998 |
77.471 |
|
(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 |
53.688 |
90.854 |
64.008 |
|
(e) Other
Non-current assets |
13.650 |
7.189 |
6.911 |
|
Total Non-Current
Assets |
5187.273 |
5571.383 |
5909.585 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
782.234 |
1085.644 |
1135.161 |
|
(c) Trade
receivables |
38.668 |
106.761 |
70.858 |
|
(d) Cash and
cash equivalents |
37.302 |
31.180 |
10.990 |
|
(e)
Short-term loans and advances |
121.384 |
125.056 |
141.873 |
|
(f) Other
current assets |
21.487 |
20.710 |
20.246 |
|
Total
Current Assets |
1001.075 |
1369.351 |
1379.128 |
|
|
|
|
|
|
TOTAL |
6188.348 |
6940.734 |
7288.713 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
3978.905 |
3741.837 |
3259.204 |
|
|
Other Income |
28.255 |
16.921 |
13.646 |
|
|
TOTAL |
4007.160 |
3758.758 |
3272.850 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
2987.840 |
2861.614 |
2707.089 |
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
246.990 |
54.286 |
(236.487) |
|
|
Employees benefits expense |
90.306 |
107.824 |
107.291 |
|
|
Other expenses |
761.628 |
829.734 |
838.254 |
|
|
TOTAL |
4086.764 |
3853.458 |
3416.147 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(79.604) |
(94.700) |
(143.297) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1027.587 |
800.513 |
700.520 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(1107.191) |
(895.213) |
(843.817) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
359.499 |
371.714 |
388.080 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(1466.690) |
(1266.927) |
(1231.897) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.192 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(1466.690) |
(1266.927) |
(1232.089) |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
509.097 |
655.470 |
209.634 |
|
|
Components and Spare Parts |
1.881 |
3.454 |
74.450 |
|
|
TOTAL IMPORTS |
510.978 |
658.924 |
284.084 |
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(8.29) |
(7.10) |
(6.80) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
1151.592 |
615.505 |
144.570 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(113.852) |
(129.177) |
(738.857) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(36.86) |
(33.86) |
(37.80) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(2.00) |
(2.53) |
(4.40) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(24.01) |
(18.46) |
(17.08) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.60 |
0.87 |
6.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(2.80) |
(4.79) |
(30.80) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.24 |
0.47 |
0.79 |
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 |
1811.198 |
2111.198 |
2123.414 |
|
Reserves & Surplus |
(2297.560) |
(3564.487) |
(4554.763) |
|
Net worth |
(486.362) |
(1453.289) |
(2431.349) |
|
|
|
|
|
|
long-term borrowings |
5676.186 |
5442.148 |
4476.061 |
|
Short term borrowings |
381.549 |
905.536 |
1174.443 |
|
Current Maturities of
Long Term Debt |
144.570 |
615.505 |
1151.592 |
|
Total borrowings |
6202.305 |
6963.189 |
6802.096 |
|
Debt/Equity ratio |
(12.752) |
(4.791) |
(2.798) |
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 |
3259.204 |
3741.837 |
3978.905 |
|
|
|
14.808 |
6.336 |
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 |
3259.204 |
3741.837 |
3978.905 |
|
Profit/ (Loss) |
(1232.089) |
(1266.927) |
(1466.690) |
|
|
(37.80%) |
(33.86%) |
(36.86%) |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
Yes |
|
33 |
Market information |
---------------------- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
CALCUTTA HIGH COURT
CASE STATUS INFORMATION SYSTEM
|
Case Status : Pending |
|
|
|
Status of
Income tax appeal tendered 168 of 2014 |
|
Commissioner of Income
tax, Kolkata-I, K Vs. Maithan Ispat
Limited |
|
|
|
|
|
Pet's Adv.: M. C.
Prusty |
|
|
|
Res's Adv. : G. S. Gupta |
|
Case Updated on: Tuesday, March 31 2015 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10565060 |
31/03/2015 |
6,139,500,000.00 |
State Bank of India |
Corporate Accounts Group Branch, as Facility Agent, 2nd floor, Reliance House, 34, J. L. Nehru Road, Kolkata - 700071, West Bengal, INDIA |
C51518280 |
|
2 |
10565062 |
31/03/2015 |
1,690,000,000.00 |
State Bank of India |
Corporate Accounts Group Branch, as Lead Bank, 2nd floor, Reliance House, 34, J. L. Nehru Road, Kolkata - 700071, West Bengal, INDIA |
C51520518 |
|
3 |
10342611 |
24/02/2012 |
7,829,300,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS GROUP BRANCH, 34, J L NEHRU ROAD, KOLKATA - 700071, West Bengal, INDIA |
B35181833 |
|
4 |
10027453 |
20/10/2009 * |
1,344,200,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS
GROUP BRANCH, 34 J L NEHRU ROA |
A71740930 |
|
5 |
10027246 |
15/09/2006 |
710,000,000.00 |
STATE BANK OF INDIA & PUNJAB NATIONAL BANK |
SBI-CAG BRANCH,34
J. L. NEHRU ROAD,KOLKATA, PNB - |
A05382221 |
|
6 |
80035686 |
16/09/2009 * |
3,821,900,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS GROUP BRANCH, 34 J L NEHRU ROAD, KOLKATA - 700071, West Bengal, INDIA |
A70107669 |
|
7 |
80035365 |
24/02/2012 * |
7,829,300,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS GROUP BRANCH, 34, J L NEHRU ROAD, KOLKATA - 700071, West Bengal, INDIA |
B35178284 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans repayable on demand from others |
0.000 |
430.000 |
|
Total |
0.000 |
430.000 |
CHANGE OF ADDRESS
The Registered address has been shifted from the 9, AJC Bose
Road, 6th Floor, Kolkata – 700017, West Bengal, India to the present
address w.e.f. 31.03.2015.
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Other Plant and Equipment
· Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
Intangible Assets
· Computer Software
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.64.95 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.71.84 |
INFORMATION
DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
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 |
|
12 |
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.