MIRA INFORM REPORT

 

 

Report No. :

338908

Report Date :

02.09.2015

 

IDENTIFICATION DETAILS

 

Name :

INDU CORPORATION PRIVATE LIMITED (PART-IX)

 

 

Registered Office :

Nishuvi, 4th Floor, 75, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra

Tel. No.:

91-22-43005100

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

03.04.2006

 

 

Com. Reg. No.:

11-160932

 

 

Capital Investment / Paid-up Capital :

Rs.49.000 Million

 

 

CIN No.:

[Company Identification No.]

u27104mh2006ptc160932

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMI07109E

 

 

PAN No.:

[Permanent Account No.]

AABCI4951L

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Authorised Distributor for Tata Steel

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (43)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 1580000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

The rating takes into consideration ICPL’s established market position, led by its promoter’s extensive experience in trading and distribution of steel and zinc, sound financial base and fair liquidity profile of the company.  

 

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

 

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 = BBB-

Rating Explanation

Moderate degree of safety and moderate credit risk

Date

30.06.2014

 

 

Rating Agency Name

CRISIL

Rating

Short Term Rating = A3

Rating Explanation

Moderate degree of safety and high credit risk

Date

30.06.2014

 

 

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 31-03-2013.

 

INFORMATION DENIED BY

 

Name :

Mr. Dharmendra Joshi

Designation :

Account Manager

Contact No.:

91-22-43005100

Date :

28.08.2015

 

 

LOCATIONS

 

Registered Office/ Head Office :

Nishuvi, 4th Floor, 75, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India

Tel. No.:

91-22-43005100 / 24962034 / 41005300 / 24950465 / 24962032 / 43005105

Fax No.:

91-22-43005105 / 24950465

E-Mail :

mail@talojasteel.com

info@inducorp.co.in

bhaskar.gandhi@gmail.com

admin@inducorp.co.in

dharmendra.joshicorp.co.in

pkapashioinducorp.co.in

Website :

www.inducorporation.com

Area :

2500 Sq. Ft.

Location :

Owned

 

 

Warehouse :

Plot No.A-1, M.I.D.C. Taloja Industrial Area, Taloja, District Raigad – 410208, Maharashtra, India

Tel. No.:

91-22-27412387 / 27411097

Fax No.:

91-22-27411097

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Sevantilal Shantilal Kapashi

Designation :

Director    

Address :

703, Pleasant Palace, 16, N.D. Road, Mumbai – 400006, Maharashtra, India 

Date of Birth/Age :

12.03.1935

Date of Appointment :

03.04.2006

DIN No.:

00008435

PAN No.:

AADPK3641A

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U67120MH1985PTC036721

NISHUVI TRADING PRIVATE LIMITED

Director

3/7/1985

3/7/1985

-

Converted to LLP and dissolved

NO

2

L51900MH1985PLC037452

KAPASHI COMMERCIAL LIMITED

Whole-time director

1/9/2014

11/9/1985

-

Active

NO

3

U65990MH1992PTC065170

SHREEJEE INVESTMENTS PRIVATE LIMITED

Director

31/01/1992

31/01/1992

22/09/2008

Active

NO

4

U27107MH1995PTC090193

TALOJA STEEL PRIVATE LIMITED

Director

4/7/1995

4/7/1995

-

Amalgamated

NO

5

U74999GJ1991PTC015740

INDRAMATI PROPERTIES AND CREDIT PRIVATE LIMITED

Director

21/03/1996

21/03/1996

2/12/2008

Active

NO

6

U50400MH1989PLC054707

RUNISHA COMMERCIAL LIMITED

Director

27/08/2001

27/08/2001

-

Amalgamated

NO

7

U27104MH2006PTC160932

INDU CORPORATION PRIVATE LIMITED (PART-IX)

Director

3/4/2006

3/4/2006

-

Active

NO

8

U01400MH2007PTC174648

N P K ENTERPRISE PRIVATE LIMITED

Director

30/09/2013

17/05/2013

-

Active

NO

9

AAC-9320

NISHUVI TRADING LLP

Designated Partner

18/11/2014

18/11/2014

-

Active

NO

 

 

Name :

Mr. Indukumar Shantilal Kapashi

Designation :

Director    

Address :

503, Pleasant Palace, 16, N.D. Road, Mumbai – 400006, Maharashtra, India 

Date of Birth/Age :

03.01.1936

Date of Appointment :

03.04.2006

DIN No.:

00008413

PAN No.:

AADPK3605N

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

L51900MH1985PLC037452

KAPASHI COMMERCIAL LIMITED

Whole-time director

1/9/2014

11/9/1985

-

Active

NO

2

U67120MH1985PTC036721

NISHUVI TRADING PRIVATE LIMITED

Director

10/2/1988

10/2/1988

-

Converted to LLP and dissolved

NO

3

U27107MH1995PTC090193

TALOJA STEEL PRIVATE LIMITED

Director

4/7/1995

4/7/1995

-

Amalgamated

NO

4

U70102MH1989PLC053258

NASHIMA DEVELOPERS LIMITED

Director

19/07/1995

19/07/1995

-

Amalgamated

NO

5

U65990MH1992PTC065170

SHREEJEE INVESTMENTS PRIVATE LIMITED

Director

12/10/1999

12/10/1999

22/09/2008

Active

NO

6

U99999MH1994PTC081524

CHANDESHWARI TRADING AND FINANCE PRIVATE LIMITED

Director

30/09/2006

14/11/2005

9/1/2013

Active

NO

7

U27104MH2006PTC160932

INDU CORPORATION PRIVATE LIMITED (PART-IX)

Director

3/4/2006

3/4/2006

-

Active

NO

8

U01400MH2007PTC174648

N P K ENTERPRISE PRIVATE LIMITED

Director

30/09/2013

17/05/2013

-

Active

NO

9

AAC-9320

NISHUVI TRADING LLP

Designated Partner

18/11/2014

18/11/2014

-

Active

NO

 

 

Name :

Mr. Paresh Sevantilal Kapashi

Designation :

Director    

Address :

703, Pleasant Palace, 16, N.D. Road, Mumbai – 400006, Maharashtra, India 

Date of Birth/Age :

10.02.1966

Qualification :

B.E., MBA

Date of Appointment :

03.04.2006

DIN No.:

00008486

PAN No.:

AADPK4862B

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U50400MH1989PLC054707

RUNISHA COMMERCIAL LIMITED

Director

20/12/1989

20/12/1989

-

Amalgamated

NO

2

L51900MH1985PLC037452

KAPASHI COMMERCIAL LIMITED

Director

11/6/1993

11/6/1993

-

Active

NO

3

U67120MH1985PTC036721

NISHUVI TRADING PRIVATE LIMITED

Director

12/1/1994

12/1/1994

-

Converted to LLP and dissolved

NO

4

U27107MH1995PTC090193

TALOJA STEEL PRIVATE LIMITED

Managing director

4/7/1995

4/7/1995

-

Amalgamated

NO

5

U65990MH1992PTC065170

SHREEJEE INVESTMENTS PRIVATE LIMITED

Director

28/06/2002

28/06/2002

22/09/2008

Active

NO

6

U27104MH2006PTC160932

INDU CORPORATION PRIVATE LIMITED (PART-IX)

Director

3/4/2006

3/4/2006

-

Active

NO

7

AAC-9320

NISHUVI TRADING LLP

Designated Partner

18/11/2014

18/11/2014

-

Active

NO

 

 

Name :

Mr. Nimish Indubhai Kapashi

Designation :

Director    

Address :

Pleasant Palace, Flat No.503, 5th Floor, Narayan Dabholkar Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

18.06.1970

Qualification :

B. Com

Date of Appointment :

03.04.2006

DIN No.:

00073665

PAN No.:

AADPK3624K

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U70102MH1989PLC053258

NASHIMA DEVELOPERS LIMITED

Director

30/08/1989

30/08/1989

-

Amalgamated

NO

2

L51900MH1985PLC037452

KAPASHI COMMERCIAL LIMITED

Director

11/6/1993

11/6/1993

-

Active

NO

3

U67120MH1985PTC036721

NISHUVI TRADING PRIVATE LIMITED

Director

12/1/1994

12/1/1994

-

Converted to LLP and dissolved

NO

4

U27107MH1995PTC090193

TALOJA STEEL PRIVATE LIMITED

Managing director

4/7/1995

4/7/1995

-

Amalgamated

NO

5

U65990MH1992PTC065170

SHREEJEE INVESTMENTS PRIVATE LIMITED

Director

28/06/2002

28/06/2002

22/09/2008

Active

NO

6

U99999MH1994PTC081524

CHANDESHWARI TRADING AND FINANCE PRIVATE LIMITED

Director

30/09/2006

14/11/2005

9/1/2013

Active

NO

7

U27104MH2006PTC160932

INDU CORPORATION PRIVATE LIMITED (PART-IX)

Director

3/4/2006

3/4/2006

-

Active

NO

8

AAC-9320

NISHUVI TRADING LLP

Designated Partner

18/11/2014

18/11/2014

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Dharmendra Joshi

Designation :

Account Manager

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

% of Holding

Paresh S. Kapashi

931000

19.00

Nimish I. Kapashi

931000

19.00

Sevantilal Shantilal Kapashi

955500

19.50

Indukumar Shantilal Kapashi

955500

19.50

Sushila Shantilal Kapashi

514500

10.50

Nitina Indukumar Kapashi

514500

10.50

Nandini P. Kapashi

49000

1.00

Bhakti N. Kapashi

49000

1.00

Total

4900000

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

 

Line of Business :

Authorised Distributor for Tata Steel

 

 

Products :
  • Steel
  • Zinc

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management 

 

 

Bankers :

Banker Name

Oriental Bank of Commerce

Branch Address

Opera House Branch, Shreejee Chambers, Tata Road No.2, Opera House, Mumbai – 400004, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

Working capital loans from banks

326.137

423.113

Total

326.137

423.113

 

Auditors :

 

Name :

Vinod K. Mehta and Company

Chartered Accountants 

Address :

B-5, 2nd Floor, Satyam Shopping Centre, Ghatkopar (East), Mumbai – 400077, Maharashtra, India

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

AADFV6947N

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Related Party:
  • Nishuvi Corporation
  • N P K Enterprise  Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5000000

Equity Shares

Rs.10/- each

Rs.50.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4900000

Equity Shares

Rs.10/- each

Rs.49.000 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

49.000

21.000

21.000

(b) Reserves & Surplus

504.863

509.707

491.491

(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)

553.863

530.707

512.491

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.525

0.656

1.148

(c) Other long term liabilities

357.519

356.591

264.634

(d) long-term provisions

7.796

6.199

5.125

Total Non-current Liabilities (3)

365.840

363.446

270.907

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

329.184

423.996

100.603

(b) Trade payables

997.880

763.997

1,246.258

(c) Other current liabilities

1.534

9.010

4.841

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

1328.598

1197.003

1351.702

 

 

 

 

TOTAL

2248.301

2091.156

2135.100

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

281.969

280.177

264.456

(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

15.824

15.903

16.010

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

2.302

2.207

2.168

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

300.095

298.287

282.634

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

240.895

333.069

302.041

(c) Trade receivables

1,507.470

1,258.085

1,356.683

(d) Cash and cash equivalents

61.698

70.403

113.833

(e) Short-term loans and advances

127.678

99.475

48.365

(f) Other current assets

10.465

31.837

31.544

Total Current Assets

1948.206

1792.869

1852.466

 

 

 

 

TOTAL

2248.301

2091.156

2135.100

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

10446.684

8458.562

7153.173

 

 

Other Income

8.529

8.374

18.119

 

 

TOTAL                                        

10455.213

8466.936

7171.292

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

10225.638

8265.252

6941.143

 

 

 

 

 

 

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

229.575

201.684

230.149

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

187.099

165.021

158.475

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

42.476

36.663

71.674

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                    

10.148

9.215

7.887

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX

32.328

27.448

63.787

 

 

 

 

 

Less

TAX                                                                 

9.172

9.232

20.010

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX                

23.156

18.216

43.777

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

4.73

8.67

20.85

 

 

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

30.488

(59.410)

(19.979)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.22

0.22

0.61

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

2.20

2.38

3.22

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.45

1.32

3.01

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.06

0.05

0.12

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.59

0.80

0.20

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.47

1.50

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

21.000

21.000

49.000

Reserves & Surplus

491.491

509.707

504.863

Net worth

512.491

530.707

553.863

 

 

 

 

Long Term borrowings

0.000

0.000

0.000

Short Term borrowings

100.603

423.996

329.184

Total borrowings

100.603

423.996

329.184

Debt/Equity ratio

0.196

0.799

0.594

 

 

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

7153.173

8458.562

10446.684

 

 

18.249

23.504

 

 

 

 

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

7153.173

8458.562

10446.684

Profit

43.777

18.216

23.156

 

0.61%

0.22%

0.22%

 

 

 

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

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

 

WORKING RESULT:

 

The Sales for the year ended 31st March, 2014 amounted to Rs.10446.684 Million as compared to Rs.8458.562 Million in the previous year, registering growth of 23.50%. The Company earned the Net Profit of Rs.23.156 Million as compared to Rs.18.216 Million in the previous year registering reduction of about 27.12% as compared to previous year. Reduction in Profit is due to increase in finance cost and purchase cost of materials.

 

 

UNSECURED LOANS:

 

Particulars

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

SHORT TERM BORROWINGS

 

 

Loans taken for fixed assets

3.046

0.883

Total

3.046

0.883

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10047705

26/03/2015 *

1,742,500,000.00

ORIENTAL BANK OF COMMERCE

OPERA HOUSE BRANCH, SHREEJI CHAMBERS,TATA ROAD NO. 2, OPERA HOUSE, MUMBAI, MAHARASHTRA - 400004, INDIA

C50656941

2

90159155

10/03/2003

25,000,000.00

GLOBAL TRUST BANK LIMITED

15; MAKER CHAMBER, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

-

3

90157479

29/04/2000

10,000,000.00

GLOBAL TRUST BANK LIMITED

15; MAKER CHAMBER, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

-

4

90158776

03/10/1996

15,000,000.00

GLOBAL TRUST BANK LIMITED

MAKAR CHAMBERS 111, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

-

5

90156198

26/05/2007 *

240,000,000.00

ORIENTAL BANK OF COMMERCE

SHREEJEE CHAMBERS, TATA ROAD NO. 2, GIRGAUM, MUMBAI, MAHARASHTRA - 400004, INDIA

-

6

90156163

20/10/1995 *

17,540,000.00

GLOBAL TRUST BANK LIMITED

15; MAKER CHAMBER, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

-

 

* Date of charge modification

 

 

FIXED ASSETS

 

·         Land

·         Building

·         Plant and Machinery

·         Computer

·         Vehicles

·         Furniture and Fixture

 

 

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.66.26

UK Pound

1

Rs.101.99

Euro

1

Rs.74.79

 

 

INFORMATION DETAILS

 

Information Gathered by :

KAM

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

GTA

 

 

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

3

--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

 

43

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.