MIRA INFORM REPORT
|
Report No. : |
341274 |
|
Report Date : |
16.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
SBQ STEELS LIMITED |
|
|
|
|
Registered
Office : |
6/13, North Avenue, Kesavaperumal Puram, Chennai - 600028, Tamilnadu |
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Tel. No.: |
91-44-42100044 |
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|
|
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Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
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Date of
Incorporation : |
22.03.2007 |
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|
|
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Com. Reg. No.: |
18-062823 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs.783.957 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U27310TN2007PLC062823 |
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IEC No.: |
Not Available |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAKCS8867Q |
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|
|
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Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
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Line of Business
: |
Subject primarily engaged in the manufacturing of Coke, PIG Iron, MS
Billets and Sponge Iron. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (15) |
|
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 |
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|
|
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Payment Behaviour : |
Slow |
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Litigation : |
Exist |
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Comments : |
SBQ STEEL was incorporated in March 2007 and promoted by the Chennai
(Tamilnadu)-based RKKR group. It is established company having moderate track
record. During the year under review the company achieved a turnover of Rs.
4254.800 Million as compared to Rs. 5432.800 Million during previous year
2012-2013. The company incurred losses of Rs. 4765.500 Million during the
year which exceeds the networth of the company and hence the net worth of the
company is fully eroded as on 31st March 2014. Rating are constrained on delay in debt servicing by SBQ on account of
time and cost overrun in the ongoing project and disruption in production at
the existing facilities due to non - availability of raw material on
continuous basis and general downturn experienced in steel industry. However, business is active. Payment terms are reported to be slow. In view of poor operational and financial performance, the company can
be considered for business dealings with safe and secure 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 |
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
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Sanjay |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9444789491 |
LOCATIONS
|
Registered Office : |
6/13, North Avenue, Kesavaperumal Puram, Chennai - 600028, Tamilnadu |
|
Tel. No.: |
91-44-42100044 |
|
Fax No.: |
91-44-42100177 |
|
E-Mail : |
info@rkkrgroup.com cs@rkkgroup.in |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Joseph Philip |
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Designation : |
Director |
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|
Address : |
282/11, Mowbrays Flat, T.T.K. Road, Alwarpet, Chennai - 600018, Tamilnadu, India |
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Date of Appointment : |
26.06.2014 |
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DIN No.: |
00003074 |
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Other Directorship:
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Name : |
Mr. Ritesh Rai |
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|
Designation : |
Managing Director |
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Address : |
No.5 Ethiraj Lane, Egmore, Chennai - 600105, Tamilnadu, India |
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Date of Birth/Age : |
13.06.1982 |
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Date of Appointment : |
01.04.2013 |
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DIN No.: |
00003084 |
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Other Directorship:
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|
Name : |
Mr. Rajiv Rai |
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Designation : |
Director |
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Address : |
No.5 Ethiraj Lane, Egmore, Chennai - 600105, Tamilnadu, India |
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Date of Birth/Age : |
20.08.1955 |
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Date of Appointment : |
23.06.2014 |
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DIN No.: |
00003092 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Sanjay |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ritika Rai |
|
100 |
|
Rajiv Rai |
|
2799250 |
|
Ritesh Rai |
|
3237750 |
|
Rupai Rai |
|
100 |
|
Rai Ispat Private Limited |
|
11008022 |
|
Gugnani Leasing and Hire Purchase Private Limited
|
|
9202022 |
|
Ojasvi Motor Finance Private Limited |
|
8660482 |
|
Lokesh Secfin Private Limited |
|
6655882 |
|
Growell Hire Purchase and Finance Private
Limited |
|
6185565 |
|
RKKR Holdings Private Limited |
|
5313362 |
|
Shreyans Finleases Private Limited |
|
4195500 |
|
Al Mema Investment Limited |
|
3417799 |
|
Chandan Credit Limited |
|
3097630 |
|
Demeter Dealers Private Limited |
|
2636218 |
|
Fateh Leasing and Finance Private Limited |
|
2638194 |
|
Rai Shares and Securities Private Limited |
|
1900355 |
|
Rajiv Shares and Securities Private Limited |
|
1883064 |
|
Ritika Shares and Securities Private Limited |
|
1836895 |
|
Ritesh Shares and Securities Private Limited |
|
1828225 |
|
Shantananda Steels Private Limited |
|
350000 |
|
Ferro Holdings Limited |
|
270000 |
|
RKKR Steels Limited |
|
49300 |
|
Total |
|
77165715 |
As on 25.03.2014
|
Names of Allotee |
|
No. of Shares |
|
Ritesh rai |
|
48000 |
|
Rajiv rai |
|
52000 |
|
Rai Ispat Private Limited |
|
1130000 |
|
|
|
1230000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
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 |
4.78 |
|
Bodies corporate |
87.40 |
|
Directors or relatives of Directors |
7.82 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject primarily engaged in the manufacturing of Coke, PIG Iron, MS
Billets and Sponge Iron. |
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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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||||
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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||||||||||||||||||||||
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Facilities : |
(Rs.
In Million)
|
|
Financial Institution: |
Edelweiss Asset Reconstruction Company |
|
|
|
|
Auditors : |
|
|
Name : |
Kumbhat and Company Chartered Accountants |
|
Address : |
1-C, Green Haven, 62, Third Main Road, Gandhinagar, Adyar, Chennai- 600020, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFK5509L |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates : |
CIN NO.: U27101TN1965PTC006069
CIN NO.: U67190TN2008PTC068964
CIN NO.: U67120TN2008PTC068931
CIN NO.: U67120TN2008PTC068932
CIN NO.: U67120TN2008PTC068929
CIN NO.: U65993TN1987PTC014305
CIN NO.: U27104TN1989PTC017583
CIN NO.: U27104TN1971PTC006087
CIN NO.: U40102TN2006PTC061432
CIN NO.: U27104TN1972PTC006121
CIN NO.: U55101TN2008PTC069738
CIN NO.: U15311TN1979PLC007943
CIN NO.: U74990TN2010PLC076008
CIN NO.: U67120TN2009PTC072168
CIN NO.: U74999TN2009PTC072032
CIN NO.: U65921WB1995PTC138148
CIN NO.: U51109TN2005PTC086298
CIN NO.: U65192WB1996PTC134124
CIN NO.: U65921TN1991PLC086297
CIN NO.: U65929TN1996PTC086296
CIN NO.: U65921TN1987PTC098875
CIN NO.: U65921TN1987PTC098875
CIN NO.: U65921TN1997PTC089841 |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
81000000 |
Equity Shares |
Rs.10/- each |
Rs. 810.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
78395715 |
Equity Shares |
Rs.10/- each |
Rs. 783.957
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 |
783.957 |
739.801 |
582.851 |
|
(b) Reserves & Surplus |
(1745.165) |
2843.736 |
2501.119 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
40.000 |
366.000 |
|
Total
Shareholders’ Funds (1) + (2) |
(961.208) |
3623.537 |
3449.970 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
12401.038 |
13125.677 |
10704.560 |
|
(b) Deferred tax liabilities (Net) |
320.859 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
9.458 |
6.553 |
|
Total Non-current
Liabilities (3) |
12721.897 |
13135.135 |
10711.113 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
4392.521 |
3199.501 |
1554.240 |
|
(b) Trade
payables |
461.289 |
159.067 |
124.429 |
|
(c) Other
current liabilities |
4150.236 |
1807.464 |
1161.384 |
|
(d) Short-term
provisions |
6.366 |
1.747 |
1.793 |
|
Total Current
Liabilities (4) |
9010.412 |
5167.779 |
2841.846 |
|
|
|
|
|
|
TOTAL |
20771.101 |
21926.451 |
17002.929 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
11045.550 |
5236.912 |
6608.041 |
|
(ii)
Intangible Assets |
8.555 |
11.244 |
5.532 |
|
(iii)
Capital work-in-progress |
4916.918 |
9015.735 |
6644.104 |
|
(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 |
760.744 |
464.789 |
|
(d) Long-term Loan and Advances |
40.890 |
500.284 |
51.674 |
|
(e) Other
Non-current assets |
1625.582 |
2211.303 |
15.185 |
|
Total Non-Current
Assets |
17637.495 |
17736.222 |
13789.325 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1854.563 |
2789.258 |
2022.828 |
|
(c) Trade
receivables |
418.080 |
282.531 |
102.958 |
|
(d) Cash
and cash equivalents |
92.643 |
216.167 |
143.126 |
|
(e)
Short-term loans and advances |
768.320 |
902.273 |
914.324 |
|
(f) Other
current assets |
0.000 |
0.000 |
30.368 |
|
Total
Current Assets |
3133.606 |
4190.229 |
3213.604 |
|
|
|
|
|
|
TOTAL |
20771.101 |
21926.451 |
17002.929 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
3791.894 |
4776.083 |
3997.753 |
|
|
Other Income |
38.112 |
46.956 |
(103.681) |
|
|
TOTAL
|
3830.006 |
4823.039 |
3894.072 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
4200.341 |
4522.654 |
3666.506 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
224.591 |
(531.049) |
195.427 |
|
|
Employees benefits expense |
111.768 |
121.363 |
81.722 |
|
|
Other expenses |
1112.867 |
776.852 |
611.982 |
|
|
TOTAL
|
5649.567 |
4889.820 |
4555.637 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(1819.561) |
(66.781) |
(661.565) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1378.971 |
661.103 |
561.806 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(3198.532) |
(727.884) |
(1223.371) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
485.390 |
301.324 |
291.540 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(3683.922) |
(1029.208) |
(1514.911) |
|
|
|
|
|
|
|
Less |
TAX |
1081.603 |
(295.825) |
(516.176) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(4765.525) |
(733.383) |
(998.735) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
84.406 |
119.616 |
N.A |
|
|
TOTAL
EARNINGS |
84.406 |
119.616 |
N.A |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1235.615 |
2429.354 |
N.A |
|
|
Components and Stores parts |
3.660 |
0.000 |
N.A |
|
|
Capital Goods |
178.233 |
37.744 |
N.A |
|
|
TOTAL
IMPORTS |
1417.508 |
2467.098 |
N.A |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(60.78) |
(9.35) |
(12.73) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
3297.470 |
939.129 |
105.884 |
|
Cash generated from operations |
N.A |
N.A |
N.A |
|
Net cash flow from operating activity |
2040.985 |
(103.600) |
(207.800) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(125.68) |
(15.36) |
(24.98) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(47.99) |
(1.40) |
(16.55) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(23.24) |
(8.47) |
(15.31) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
3.83 |
(0.28) |
(0.44) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(20.90) |
4.76 |
3.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.35 |
0.81 |
1.13 |
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 |
582.851 |
739.801 |
783.957 |
|
Reserves & Surplus |
2501.119 |
2843.736 |
(1745.165) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
366.000 |
40.000 |
0.000 |
|
Net
worth |
3449.970 |
3623.537 |
(961.208) |
|
|
|
|
|
|
long-term borrowings |
10704.560 |
13125.677 |
12401.038 |
|
Short term borrowings |
1554.240 |
3199.501 |
4392.521 |
|
Current maturities of
long-term debts |
105.884 |
939.129 |
3297.470 |
|
Total
borrowings |
12364.684 |
17264.307 |
20091.029 |
|
Debt/Equity
ratio |
3.584 |
4.764 |
(20.902) |
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 |
3997.753 |
4776.083 |
3791.894 |
|
|
|
19.469 |
(20.607) |
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 |
3997.753 |
4776.083 |
3791.894 |
|
Profit |
(998.735) |
(733.383) |
(4765.525) |
|
|
(24.98)% |
(15.36)% |
(125.68)% |
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 |
No |
|
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
Madras
High Court
Case
Status Information System
|
Case Status: PENDING Status of: ORIGINAL SIODE
APPEAL 47 OF 2014 GOYAL GASES Litigation: PRIVEATE VS SBQ
STEELS LIMITED Pet’s Adv: S.L. SUDRASANAM Res’s Adv: V. ANIL Last Date of Hearing---- Next/ Final Date Thursday, August 28, of Hearing 2014 |
PERFORMANCE
The company achieved a turnover of Rs. 4254.800 Million as compared to Rs 5432.800 Million during the previous year 2012-13. The company incurred losses of Rs. 4765.500 Million during the year which exceeds the Networth of the company and hence the Networth of the company is fully eroded as on 3151 March 2014. The Directors had observed in the previous year Report that by way of its outlook for the year 2013-14, it was fervently hoped that there will be improvements in all vital fronts like Good Quality Raw Material availability, favourable Market conditions, optimum utilisation of Plant etc in the current financial year. Unfortunately the same did not happen and with additional factors aggravating the situation the company has ended up the year with
Significant losses. Despite Corporate Debt Restructuring ( CDR) Package sanctioned to the Company by CDR Cell, Mumbai vide their letter BY.CDR (JCP) No.6490 /2011-12 dated March, 9, 2012 the company continued to experience substantial stress during the year due to erratic raw material prices coupled with totally non responsive and un remunerative selling prices. delay in implementation of expansion projects and general downturn experienced by the Steel industry during the year coupled with liquidity crisis on account of continued cash losses and the suspension of production operations of the Steel plant since December 2013.
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10350455 |
29/03/2014 * |
20,473,000,000.00 |
EDELWEISS ASSET
RECONSTRUCTION COMPANY LIMITED |
EDELWEISS HOUSE,
OFF. C.S.T ROAD, KALINA, MUMBAI - 400098, MAHARASHTRA, INDIA |
C40402653 |
|
2 |
10216259 |
14/07/2014 * |
576,000,000.00 |
EDELWEISS ASSET
RECONSTRUCTION COMPANY LIMITED |
EDELWEISS HOUSE,
OFF. C.S.T ROAD,, KALINA,, MUMBAI- 400098, MAHARASHTRA, INDIA |
C49969678 |
|
3 |
10206901 |
14/07/2014 * |
3,600,000,000.00 |
EDELWEISS ASSET
RECONSTRUCTION COMPANY LIMITED |
EDELWEISS HOUSE,
OFF. C.S.T ROAD,, KALINA,, MUMBAI - 400098, MAHARASHTRA , INDIA |
C49595127 |
|
4 |
10171762 |
14/07/2014 * |
2,820,000,000.00 |
EDELWEISS ASSET
RECONSTRUCTION COMPANY LIMITED |
EDELWEISS HOUSE,
OFF. C.S.T ROAD,, KALINA,, MUMBAI - 400098, MAHARASHTRA, INDIA |
C49553233 |
|
5 |
10158075 |
14/07/2014 * |
324,000,000.00 |
EDELWEISS ASSET
RECONSTRUCTION COMPANY LIMITED |
EDELWEISS HOUSE,
OFF. C.S.T ROAD,, KALINA,, MUMBAI - 400098, MAHARASHTRA, INDIA |
C49543218 |
|
6 |
10124696 |
14/07/2014 * |
2,530,000,000.00 |
EDELWEISS ASSET
RECONSTRUCTION COMPANY LIMITED |
EDELWEISS HOUSE,
OFF. C.S.T ROAD,, KALINA,, MUMBAI - 400098, MAHARASHTRA, INDIA |
C49541485 |
|
7 |
10077055 |
14/07/2014 * |
1,210,000,000.00 |
EDELWEISS ASSET
RECONSTRUCTION COMPANY LIMITED |
EDELWEISS HOUSE,
OFF. C.S.T ROAD,, KALINA,, MUMBAI - 400098, MAHARASHTRA, INDIA |
C51038594 |
FIXED ASSETS
- Land
- Building
- Office
Building
- Factory
Building
- Plant and
Machinery
- Vehicle
- Computer
- Office
Equipment
- 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,
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.66.43 |
|
|
1 |
Rs.102.40 |
|
Euro |
1 |
Rs.75.04 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KSH |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
2 |
|
--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 |
|
15 |
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.