MIRA INFORM REPORT
|
Report No. : |
339852 |
|
Report Date : |
07.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
SULA VINEYARDS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor, A Wing, Todi Estate, Sun Mill Compound, Lower Parel
(West), Mumbai – 400013, Maharashtra |
|
Tel. No.: |
91-22-61280606 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
26.02.2003 |
|
|
|
|
Com. Reg. No.: |
11-139352 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 135.003 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15549MH2003PTC139352 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB1105C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCN7126Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of all types of Wines. |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated on 26th February, 2003. It has
satisfactory track record. Overall financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are reported
to be usually correct. The company can be considered business dealings at usual 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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 PARTED BY
|
Name : |
Mr. Deepak |
|
Designation : |
Accountant |
|
Contact No.: |
91-253-3027777 |
|
Date : |
05.09.2015 |
LOCATIONS
|
Registered Office : |
3rd Floor, A Wing, Todi Estate, Sun Mill Compound, Lower
Parel (West), Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-61280606 |
|
Fax No.: |
91-22-24926064 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Gat – 36/2, Govardhan Village, Off. Gangapur – Savargaon Road, Nashik
– 422222, Maharashtra, India |
|
Tel. No.: |
91-253-3027777 |
|
|
|
|
Resorts : |
Survey No. 1, Village Ganghavare, Gangapur, Ganghavare Road, Nashik –
422222, Maharashtra, India |
|
Tel. No.: |
91-253-3027777 |
DIRECTORS
AS ON 24.09.2014
|
Name : |
Suresh Anant Samant |
|
Designation : |
Director |
|
Address : |
Carmichael House, Carmichael Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
24.10.1933 |
|
Date of Appointment : |
06.03.2003 |
|
DIN No.: |
00114890 |
|
|
|
|
Name : |
Rajeev Suresh Samant |
|
Designation : |
Managing Director |
|
Address : |
Carmichael House, Carmichael Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
21.01.1967 |
|
Date of Appointment : |
26.02.2003 |
|
DIN No.: |
00020675 |
|
|
|
|
Name : |
Jehangir Adi Moos |
|
Designation : |
Director |
|
Address : |
Karai Estate, 4th Floor, A Block, Tardeo Road, Mumbai – 400007, Maharashtra, India |
|
Date of Birth/Age : |
21.05.1944 |
|
Date of Appointment : |
28.09.2005 |
|
DIN No.: |
00020609 |
|
|
|
|
Name : |
Deepak Ishwardas Shahdadpuri |
|
Designation : |
Director |
|
Address : |
Flat No. 11,5th Floor, Acropolis Building, 58, S.B.S Road, Colaba,, Mumbai – 400005, Maharashtra, INDIA |
|
Date of Birth/Age : |
05.07.1969 |
|
Date of Appointment : |
05.10.2005 |
|
DIN No.: |
00444270 |
|
|
|
|
Name : |
Hank Uberoi |
|
Designation : |
Director |
|
Address : |
321 Upper Mountain Av, Mountclair, New Jersey - 070431015, United States Of America |
|
Date of Birth/Age : |
10.02.1961 |
|
Date of Appointment : |
24.08.2007 |
|
DIN No.: |
01807181 |
|
|
|
|
Name : |
Amit Bapna |
|
Designation : |
Nominee Director |
|
Address : |
1801 18th Flr Sumer Trinity Tower-I, New Prabhadevi Road Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
20.07.1975 |
|
Date of Appointment : |
21.05.2014 |
|
DIN No.: |
00008443 |
|
|
|
|
Name : |
Nicholas Peter Y Cator |
|
Designation : |
Additional Director |
|
Address : |
R Kerckx 37, Ixelles - 1050, Belgium |
|
Date of Appointment : |
10.02.2015 |
|
DIN No.: |
07068629 |
KEY EXECUTIVES
|
Name : |
Shivani Pradeep Chopra |
|
Designation : |
Secretary |
|
Address : |
Flat No. 604, A-5, Rna Park Chs., Chembur (East), Mumbai, 400074, Maharashtra, India |
|
Date of Birth/Age : |
16.07.1962 |
|
Date of Appointment : |
27.05.2014 |
|
PAN No.: |
AGEPC3993L |
MAJOR SHAREHOLDERS
AS ON 24.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Rajeev S. Samant |
|
2309140 |
|
Dinesh G. Vazirani |
|
50000 |
|
Jehangir A. Moos |
|
5000 |
|
Arun V. Phatak |
|
24625 |
|
Bharat S. Samant |
|
5000 |
|
Daisy Damskey |
|
76394 |
|
GIA (Sula) Holdings Limited, Mauritius |
|
442907 |
|
Indivision Ventures I |
|
524381 |
|
Haystack Investments Limited, Mauritius |
|
377215 |
|
Anuradha J. Chudasama |
|
180833 |
|
Ursula G. Sumal |
|
425834 |
|
Mohan B. Samant and Ashin M. Samant |
|
487724 |
|
Mohan B. Samant and Ruta M. Samant |
|
487724 |
|
Verlinvest S.A. |
|
1315867 |
|
Cofintra S.A. |
|
1315867 |
|
Sulabha S Samant and Rajeev S. Samant |
|
1166866 |
|
Suresh A Samant and Jaideep S. Samant |
|
270000 |
|
Visvires Indian Wineries Pte. Limited, Singapore |
|
1277276 |
|
Verlinvest France S.A |
|
791532 |
|
Reliance Capital Limited, India |
|
3006833 |
|
Payone Enterprises Private Limited, India |
|
138715 |
|
|
|
|
|
Total |
|
14679733 |
AS ON 21.05.2014
|
Name of Alloottees |
No. of Shares |
|
Visvires Indian Wineries Pte. Limited,
Singapore |
209591 |
|
Reliance Capital Limited, India |
39616 |
|
Payone Enterprises Private Limited, India |
138715 |
|
Verlinvest Frances S A, France |
791532 |
|
|
|
|
Total |
1179454 |
Equity Share Break up (Percentage of Total Equity)
AS ON 24.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
41.71 |
|
Bodies corporate |
21.42 |
|
Directors or relatives of Directors |
25.58 |
|
Other top fifty shareholders |
11.29 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of all types of Wines. |
|
|
|
|
Products : |
Not Divulged |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Cheque |
|
|
|
|
Purchasing : |
Cash and Cheque |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
Not Divulged
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
300 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Haribhakti and Company LLP Chartered Accountants |
|
Address : |
“42 Free Press House, 4th Floor, 215, Nariman Point,
Mumbai, Maharashtra, India |
|
PAN No.: |
AAAFH2010F |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Joint venture : |
Remy Sula India Private Limited |
CAPITAL STRUCTURE
AS ON 24.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20206000 |
Equity Shares |
Rs.10/- each |
Rs. 202.060 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14679733 |
Equity Shares |
Rs.10/- each |
Rs. 146.797
Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20206000 |
Equity Shares |
Rs.10/- each |
Rs. 202.060 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13500279 |
Equity Shares |
Rs.10/- each |
Rs. 135.003
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 |
135.003 |
134.603 |
134.603 |
|
(b) Reserves & Surplus |
1583.565 |
1446.039 |
1325.994 |
|
(c) Money
received against share warrants |
5.580 |
5.580 |
5.580 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1724.148 |
1586.222 |
1466.177 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
33.597 |
39.847 |
60.251 |
|
(b) Deferred tax liabilities (Net) |
71.476 |
55.078 |
56.491 |
|
(c) Other long term
liabilities |
2.850 |
6.150 |
3.050 |
|
(d) long-term
provisions |
13.407 |
11.374 |
7.172 |
|
Total Non-current
Liabilities (3) |
121.330 |
112.449 |
126.964 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
499.650 |
480.066 |
136.410 |
|
(b) Trade
payables |
289.672 |
227.414 |
174.222 |
|
(c) Other
current liabilities |
200.329 |
169.603 |
156.521 |
|
(d) Short-term
provisions |
14.028 |
37.783 |
28.617 |
|
Total Current
Liabilities (4) |
1003.679 |
914.866 |
495.770 |
|
|
|
|
|
|
TOTAL |
2849.157 |
2613.537 |
2088.911 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
891.274 |
816.550 |
692.889 |
|
(ii)
Intangible Assets |
0.344 |
0.092 |
0.000 |
|
(iii)
Capital work-in-progress |
2.673 |
4.732 |
39.272 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
126.931 |
81.931 |
25.081 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
50.357 |
62.786 |
57.918 |
|
(e) Other
Non-current assets |
66.666 |
27.264 |
26.062 |
|
Total Non-Current
Assets |
1138.245 |
993.355 |
841.222 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
911.622 |
883.476 |
680.885 |
|
(c) Trade
receivables |
517.493 |
462.532 |
393.898 |
|
(d) Cash
and cash equivalents |
84.298 |
135.686 |
40.383 |
|
(e) Short-term
loans and advances |
59.498 |
49.094 |
69.390 |
|
(f) Other
current assets |
138.001 |
89.394 |
63.133 |
|
Total
Current Assets |
1710.912 |
1620.182 |
1247.689 |
|
|
|
|
|
|
TOTAL |
2849.157 |
2613.537 |
2088.911 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
TOTAL REVENUE
|
2233.500 |
1843.200 |
1453.900 |
|
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
321.500 |
269.500 |
256.300 |
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
(113.900) |
(91.000) |
(58.400) |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
207.600 |
178.500 |
197.900 |
|
|
|
|
|
|
|
Less |
TAX |
74.200 |
58.500 |
69.500 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
133.400 |
120.000 |
128.400 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
Export Earnings |
51.789 |
25.945 |
NA |
|
|
TOTAL EARNINGS |
51.789 |
25.945 |
NA |
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
9.08 |
8.17 |
8.75 |
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 flow from (used in) operation |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.97 |
6.51 |
8.83 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
14.39 |
14.62 |
17.63 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.63 |
7.06 |
9.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.11 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.31 |
0.33 |
0.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.70 |
1.77 |
2.52 |
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 |
134.603 |
134.603 |
135.003 |
|
Reserves & Surplus |
1325.994 |
1446.039 |
1583.565 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1460.597 |
1580.642 |
1718.568 |
|
|
|
|
|
|
long-term borrowings |
60.251 |
39.847 |
33.597 |
|
Short term borrowings |
136.410 |
480.066 |
499.650 |
|
Current Maturities of Long
Term Debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
196.661 |
519.913 |
533.247 |
|
Debt/Equity
ratio |
0.135 |
0.329 |
0.310 |
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 |
1453.900 |
1843.200 |
2233.500 |
|
|
|
26.776 |
21.175 |
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 |
1453.900 |
1843.200 |
2233.500 |
|
Profit |
128.400 |
120.000 |
133.400 |
|
|
8.83% |
6.51% |
5.97% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 |
No |
|
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 1 and 2, Matulya Centre, “C” Senapati Bapat Marg, Lower Parel,
Mumbai – 400013, Maharashtra, India to the
present address w.e.f. 02.03.2010.
UNSECURED LOAN
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Deferred sales tax loan |
29.986 |
33.261 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from others |
2.500 |
2.500 |
|
Total |
32.486 |
35.761 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10471281 |
02/03/2015 * |
200,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra - 400051, INDIA |
C47313218 |
|
2 |
10449286 |
16/08/2013 |
1,157,749.00 |
The Saraswat Co-Operative Bank Limited |
Rasec Dadar Branch, Laxman Zulla, 1st Floor, 50, Ranade Road, Dadar (West), MUMBAI, Maharashtra - 400028, INDIA |
B85107399 |
|
3 |
10434992 |
19/06/2013 |
2,880,564.00 |
The Saraswat Co-Operative Bank Ltd. |
Rasec Dadar Branch, laxman Zulla, 1st floor, 50, Ranade Road, Dadar West, Mumbai, Maharashtra - 400028, INDIA |
B78813912 |
|
4 |
10434994 |
19/06/2013 |
921,376.00 |
The Saraswat Co-Operative Bank Ltd. |
Rasec Dadar Branch, laxman Zulla, 1st floor, 50, Ranade Road, Dadar West, Mumbai, Maharashtra - 400028, INDIA |
B78815172 |
|
5 |
10435000 |
19/06/2013 |
1,023,069.00 |
The Saraswat Co-Operative Bank Ltd. |
Rasec Dadar Branch, Laxman Zulla,, 1st Floor, 50, Ranade Road, Dadar West, Mumbai, Maharashtra - 400028, INDIA |
B78820768 |
|
6 |
10423814 |
12/04/2013 |
2,163,000.00 |
The Saraswat Co-Operative Bank Ltd. |
Rasec Dadar Branch, Laxman Zulla,, 1st Floor, 50, Ranade Road, Dadar West, Mumbai, Maharashtra - 400028, INDIA |
B74457177 |
|
7 |
10415534 |
28/02/2013 |
1,711,468.00 |
Saraswat Bank |
Rasec Dadar Branch,Laxman Zilla, 1st Floor, 50,Ranade Road, Dadar, Mumbai, Maharashtra - 400028, INDIA |
B71993315 |
|
8 |
10247630 |
17/09/2010 |
586,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD |
RASEC DADAR BRANCH,
Laxman Zulla, 1st Floor, 50, Ranade Road, Dadar, Mumbai, Maharashtra -
400028, |
A97290480 |
|
9 |
10247639 |
17/09/2010 |
600,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD |
RASEC DADAR BRANCH,
Laxman Zulla, 1st Floor, 50, Maharashtra -
400028, |
A97292049 |
|
10 |
10247640 |
17/09/2010 |
1,500,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD |
RASEC DADAR BRANCH,
Laxman Zulla, 1st Floor, 50, Maharashtra -
400028, |
A97295224 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and
Equipments
- Furniture and
Fixture
- Vehicles
- Office
Equipments
- 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, 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. 66.40 |
|
UK Pound |
1 |
Rs. 101.19 |
|
Euro |
1 |
Rs. 73.89 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
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 |
|
50 |
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.