|
|
|
MIRA
INFORM REPORT
|
Report No. : |
492455 |
|
Report Date : |
16.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
VIJAYAA STEELS LIMITED (w.e.f. 13.02.2006) |
|
|
|
|
Formerly Known
As : |
VIJAYAA STEELS PRIVATE LIMITED (w.e.f. 10.10.2003) VIJAYA STEELS LIMITED (w.e.f. 27.03.1985) VIJAYA STEEL ROLLING MILL LIMITED (w.e.f. 15.02.1985) VIJAYA STEEL ROLLING MILL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
SY. No. 84/1, Kallanayakanahalli, Anchepalya (Near 220 KVA Sub
Station), Kunigal Taluk, Tumkur – 572130, Karnataka |
|
Tel. No.: |
91-8118-329511/589/966 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
31.07.1972 |
|
|
|
|
Com. Reg. No.: |
08-002224 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 78.220 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110KA1972PLC002224 |
|
|
|
|
IEC No.: |
Not Applicable (As informed by the management that firm
does not have export and import) |
|
|
|
|
GSTIN : |
29AAACV3432C1ZN |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV3432C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
(Registered Activity and also Confirmed by
Management) |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Poor |
|
|
|
|
Payment Behaviour : |
Slow and Delayed |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject was incorporated in the year 1972. It is a manufacturer of
iron and steel. Management has failed to file its financial with the Register of
Companies for the FY 2017. For the financial year 2016, the company has reported a dip in its
revenue as compared to previous year along with continuous operational loss. The poor financial risk profile of the company is marked by eroded net
worth base due to huge accumulated losses. Further, subject has been found RBI defaulter list, the name of credit
grantor is Syndicate Bank and the amount charged is INR 350.400 Million dated
31-12-2015. Payments seems to be slow and delayed. In view of aforesaid, dealings are recommended on safe an secured
terms. |
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 has been found enlisted as a
defaulter in the publicly available RBI Defaulters’ list and the details of the
same are as under :
|
Borrowers’ Name : |
Vijayaa Steel Limited |
|
Address : |
No. 7, 2nd Phase,
Peenya Industrial Area, Bangalore, |
|
Name of Individual : |
|
|
Name of Credit Grantors / Bank & Branch: |
Syndicate Bank, IFB Bangalore |
|
Amount (Rs. In Millions) : |
INR 350.400 Million |
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 31.03.2016
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 16.02.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Nagesh M. |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9880294123 |
|
Date : |
15.02.2018 |
LOCATIONS
|
Registered Office : |
SY. No. 84/1, Kallanayakanahalli, Anchepalya (Near 220 KVA Sub
Station), Kunigal Taluk, Tumkur – 572130, Karnataka, India |
|
Tel. No.: |
91-80-28395290 / 28396044 |
|
Mobile No.: |
91-9880294123 (Mr. Nagesh M.) |
|
Fax No.: |
91-80-28371479 |
|
E-Mail : |
|
|
Website : |
|
|
Locality : |
Commercial cum Industrial |
|
|
|
|
Factory 1: |
17/1, Gangadharanapalya, Nelmangala Taluk, Kasba Hobli, Bangalore –
562123, Karnataka, India |
|
Tel. No.: |
91-8118-329511/589/966 |
|
Fax No.: |
91-80-27726641 |
|
|
|
|
Factory 2: |
37, 2nd Phase, Peenya Industrial Area, Bangalore – 560058,
Karnataka, India |
|
|
|
|
Trading Firm/ Corporate Office : |
79/1, New Bamboo Bazaar, Bangalore – 560002, Karnataka, India |
|
Tel. No.: |
91-80-26700173 |
|
Fax No.: |
91-80-26702715 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Sawarrnal Tulsyan |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
19/12, 1st Main Road, Jayamahal, Bangalore – 560046,
Karnataka, India |
||||||||||||
|
Date of Birth/Age : |
28.05.1948 |
||||||||||||
|
Qualification : |
Graduation |
||||||||||||
|
Date of Appointment : |
16.05.1991 |
||||||||||||
|
PAN No.: |
ABVPT7670F |
||||||||||||
|
DIN No.: |
00276911 |
||||||||||||
|
Other
Directorship :
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Mrs. Biina Tulsyan |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
19/12, 1st Main Road, Jayamahal, Bangalore – 560046,
Karnataka, India |
||||||||||||
|
Date of Birth/Age : |
08.01.1949 |
||||||||||||
|
Qualification : |
Graduation |
||||||||||||
|
Date of Appointment : |
05.01.2006 |
||||||||||||
|
PAN No.: |
ABUPT6601M |
||||||||||||
|
DIN No.: |
00276950 |
||||||||||||
|
|
|
||||||||||||
|
Name : |
Mr. Akkshye Tulsyan |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
19/12, 1st Main Road, Jayamahal, Bangalore – 560046,
Karnataka, India |
||||||||||||
|
Date of Birth/Age : |
18.12.1981 |
||||||||||||
|
Qualification : |
Graduation |
||||||||||||
|
Date of Appointment : |
15.06.2004 |
||||||||||||
|
PAN No.: |
ACNPT5328D |
||||||||||||
|
DIN No.: |
00277031 |
||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Nagesh M. |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
As on 2016
|
Names of Shareholders |
Type of Shares |
No. of Shares |
|
Biina Tulsyan |
Equity A |
123825 |
|
Biina Tulsyan |
Equity B |
22400 |
|
|
|
|
|
Sawarrnal Tulsyan |
Equity A |
466125 |
|
Sawarrnal Tulsyan |
Equity B |
160650 |
|
|
|
|
|
Akkshye Tulsyan |
Equity A |
112500 |
|
Akkshye Tulsyan |
Equity B |
27500 |
|
|
|
|
|
M/s. Shivganga Galvansing |
Equity A |
8250 |
|
Mahesh Mehta (HUF) |
Equity A |
1500 |
|
Biina Devi Singhania |
Equity A |
6000 |
|
Nirmal Singhania |
Equity A |
1350 |
|
Rajkumar Gupta |
Equity A |
6000 |
|
Nirupama Singhavi |
Equity A |
1500 |
|
Sushma Kamawat |
Equity A |
14800 |
|
Devi Devraj |
Equity A |
7400 |
|
Jabal Commercial Private Limited |
Equity B |
4500 |
|
Cresent Leasing Limited |
Equity B |
7200 |
|
Pallavi Apartment |
Equity B |
7200 |
|
Bholababa Roadways Private Limited |
Equity B |
30000 |
|
Basukinath Design Private Limited |
Equity B |
12500 |
|
SitalaTimber Private Limited |
Equity B |
12500 |
|
Twinkle Vanjya Private Limited |
Equity B |
12500 |
|
Ventax Supplier Private Limited |
Equity B |
25000 |
|
Kalina Machines Private Limited |
Equity B |
7500 |
|
Total |
|
1078700 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2016
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
84.64 |
|
Public/Other than promoters (Body corporate) |
11.79 |
|
Public/Other than promoters (Individual/Hindu Undivided Family – Indian) |
3.57 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
(Registered Activity and also Confirmed by
Management) |
||||||||
|
|
|
||||||||
|
Products / Services
: |
|
||||||||
|
|
|
||||||||
|
Brand Names : |
Not Available |
||||||||
|
|
|
||||||||
|
Agencies Held : |
Not Available |
||||||||
|
|
|
||||||||
|
Exports : |
Not Available |
||||||||
|
|
|
||||||||
|
Imports : |
Not Available |
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
L/C, Cheque and Credit (30 Days) |
||||||||
|
|
|
||||||||
|
Purchase : |
L/C, Cheque and Credit (30 Days) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
End Users and OME
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
300( Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
R.S. Agarwala and Company Chartered Accountants |
|
Address : |
No.48, Mezanine Floor, Hitananda Building, Lavelle Road, Bangalore – 560001, Karnataka, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ABQPG4370A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares (Class A) |
INR 10/- each |
INR 5.000 Million |
|
950000 |
Equity Shares (Class B) |
INR 100/- each |
INR 95.000 Million |
|
|
Total
|
|
INR 100.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
329450 |
Equity Shares (Class A) |
INR 10/- each |
INR 3.295 Million |
|
749250 |
Equity Shares (Class B) |
INR 100/- each |
INR 74.925
Million |
|
|
Total
|
|
INR 78.220 Million |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
78.220 |
78.220 |
78.220 |
|
(b) Reserves & Surplus |
(1516.867) |
(1549.974) |
(1281.544) |
|
(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 |
(1438.647) |
(1471.754) |
(1203.324) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
173.400 |
134.644 |
113.107 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities |
173.400 |
134.644 |
113.107 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
490.355 |
304.752 |
264.675 |
|
(c) Other
current liabilities |
1162.738 |
1551.101 |
1688.833 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities |
1653.093 |
1855.853 |
1953.508 |
|
|
|
|
|
|
TOTAL |
387.846 |
518.743 |
863.291 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
151.858 |
155.607 |
482.191 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.500 |
0.500 |
0.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
21.916 |
23.685 |
29.888 |
|
Total Non-Current
Assets |
174.274 |
179.792 |
512.579 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
192.361 |
311.242 |
323.468 |
|
(c) Trade
receivables |
5.963 |
10.921 |
15.104 |
|
(d) Cash
and cash equivalents |
1.603 |
0.719 |
9.313 |
|
(e)
Short-term loans and advances |
13.645 |
16.069 |
2.827 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
213.572 |
338.951 |
350.712 |
|
|
|
|
|
|
TOTAL |
387.846 |
518.743 |
863.291 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
1185.307 |
1401.389 |
1582.012 |
|
|
Other Income |
134.774 |
268.763 |
156.849 |
|
|
TOTAL |
1320.081 |
1670.152 |
1738.861 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
928.443 |
1060.968 |
1220.020 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
27.013 |
52.510 |
(59.438) |
|
|
Employees benefits expense |
3.059 |
3.992 |
4.532 |
|
|
Other expenses |
451.309 |
596.552 |
1001.419 |
|
|
TOTAL |
1409.824 |
1714.022 |
2166.533 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(89.743) |
(43.870) |
(427.672) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
2.801 |
11.331 |
345.370 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(92.544) |
(55.201) |
(773.042) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
4.402 |
13.801 |
22.515 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(96.946) |
(69.002) |
(795.557) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(96.946) |
(69.002) |
(795.557) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
(89.87) |
(63.97) |
(737.51) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
1131.126 |
1513.553 |
1648.778 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(164.470) |
113.514 |
(489.002) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(164.470) |
113.514 |
(489.002) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
1.84 |
2.84 |
3.48 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
198.78 |
128.32 |
104.74 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
192.77 |
104.84 |
79.18 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
(0.47) |
(0.14) |
(1.32) |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
(0.59) |
(0.28) |
(0.89) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
7.63 |
6.75 |
4.30 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
(0.91) |
(1.12) |
(1.46) |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
(1.15) |
(1.26) |
(1.62) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
(0.11) |
(0.11) |
(0.40) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
(32.04) |
(3.87) |
(1.24) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(8.18) |
(4.92) |
(50.29) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(25.00) |
(13.30) |
(92.15) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
6.74 |
4.69 |
66.11 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.13 |
0.18 |
0.18 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.01 |
0.01 |
0.01 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
(3.71) |
(2.84) |
(1.39) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
16.68 |
21.07 |
22.52 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.13 |
0.18 |
0.18 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
in Million) |
(INR
in Million) |
(INR
in Million) |
|
Share Capital |
78.220 |
78.220 |
78.220 |
|
Reserves & Surplus |
(1281.544) |
(1549.974) |
(1516.867) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
(1203.324) |
(1471.754) |
(1438.647) |
|
|
|
|
|
|
long-term borrowings |
113.107 |
134.644 |
173.400 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
1648.778 |
1513.553 |
1131.126 |
|
Total
borrowings |
1761.885 |
1648.197 |
1304.526 |
|
Debt/Equity
ratio |
(1.464) |
(1.120) |
(0.907) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
in Million) |
(INR
in Million) |
(INR
in Million) |
|
Sales |
1582.012 |
1401.389 |
1185.307 |
|
|
|
(11.417) |
(15.419) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
in Million) |
(INR
in Million) |
(INR
in Million) |
|
Sales |
1582.012 |
1401.389 |
1185.307 |
|
Profit / (Loss) |
(795.557) |
(69.002) |
(96.946) |
|
|
(50.29
%) |
(4.92
%) |
(8.18
%) |
LEGAL
CASE
High Court of Karnataka -Bengaluru Bench WA
6090/2017
|
BANGALORE ELECTRICITY SUPPLY COMPANY LIMITED |
Respondent/Defnt. Name |
VIJAYAA STEELS LIMITED |
|||
|
Petnr./Appnt. Advocate |
P PRASANNA KUMAR |
Respnt./Defnt. Advocate |
(NOTE: VAKALATH FILED BY |
||
|
Date Filed |
03/10/2017 |
Classification |
GM(KEB) |
District |
Bengaluru City |
Please Note Down the Group No:6090-6091
|
Stage |
PENDING FOR ADMISSON |
Last Posted For |
ORDERS REG.NON-COMPLIANCE OF OFFICE-OBJNS |
|
|
|
Last Action Taken |
ADJOURNED |
Last Date of Action |
15/02/2018 |
Next Hearing Date |
|
|
Latest Order |
ONE WEEK TO COMPLY |
||||
|
Before Hon'ble Judge/s |
CHIEF JUSTICE |
||||
Lower Court Details [Appeal from below case.]
|
Case No |
Court Name |
Order Dt |
|
WP 13836/2015 |
HC BANGALORE |
05/06/2015 |
Details
of the Daily Order
(Click on date of order to get full order)
|
Sl No |
Honble Judge |
Date of Order |
|
1 |
HONBLE CJ & SSDYJ |
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 |
Yes |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
Yes |
|
8] |
Designation of contact person |
Yes |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
Yes |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
Yes |
|
17] |
Details of sister concerns |
No |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
No |
|
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 |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
Note:
The Registered office of the company has been shifted from
37, 2nd Phase Pennya, Industrial Area, Bangalore Industrial Area,
Bangalore – 560058, Karnataka, India to the present address w.e.f.29.09.2012
STATE OF COMPANY'S
AFFAIR
Due to sluggish market conditions there was a reduction in Gross Revenue. The gross revenues reduced due to softing of steel prices on account of crash in commodity prices across the globe and due to cheap imports. These factors resulted in substantial losses in spite of reduction in operating cost. The company hopes to improve the financial performance in the coming years.
UNSECURED LOAN
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
171.870 |
132.170 |
|
Total |
171.870 |
132.170 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
AMOUNT |
ADDRESS |
|
1 |
A77080984 |
10197253 |
CANARA BANK |
07/01/2010 |
20000000.0 |
PRIME CORPORATE BRANCH, SHANKAR NARAYANA BLDG.NO.25, M G ROAD, BANGALORE-560001, India |
|
2 |
A75012690 |
10192011 |
RELIANCE CAPITAL LTD |
23/11/2009 |
4300000.0 |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI MH400710IN |
|
3 |
A51453595 |
10157835 |
CANARA BANK |
26/09/2008 |
37500000.0 |
PRIME CORPORATE BRANCH, SHANKAR NARAYANA BLDG.NO.25, M G ROAD, BANGALORE-560001, India |
|
4 |
A03100997 |
10013415 |
CANARA BANK |
29/07/2006 |
10000000.0 |
VENKTADRI COMPLEX, INDUSTRIAL FINANCE BRANCH,RICHMOND ROADBANGALOREKA560025IN |
|
5 |
A02443380 |
10009731 |
CANARA BANK |
28/06/2006 |
10000000.0 |
Venkatadri Complex, INDUSTRIAL FINANCE BRANCH,RICHMOND ROADBANGALOREKA560025IN |
|
6 |
A01134840 |
10004023 |
CANARA BANK |
20/05/2006 |
17500000.0 |
VENKATADRI COMPLEX INDUSTRIAL FINANCE BRANCHNO 83, RICHMOND ROADBANGALOREKA560025IN |
|
7 |
A00973461 |
10020000 |
CANARA BANK |
27/04/2006 |
20000000.0 |
VENKATADRI COMPLEX INDUSTRIAL FINANCE BRANCH NO 83, RICHMOND ROAD BANGALORE KA560025IN |
|
8 |
Z00666991 |
80048800 |
CORPORATION BANK |
24/03/2004 |
121500000.0 |
INDUSTRIAL FINANCE BRANCH BANGALORE KA560001IN |
|
9 |
Z00666976 |
80048799 |
CORPORATION BANK |
09/12/2003 |
94500000.0 |
INDUSTRIAL FINANCE BRNCH BANGALORE KA560001IN |
|
10 |
Y10291478 |
90189579 |
KARNATAKA STATE FINANCIAL CORPORATION |
21/03/2003 |
15000000.0 |
NO. 1/1; THIMMAIAH ROAD BANGALORE KA560052IN |
FIXED ASSETS
- Land
- Buildings
- Factory
Building
- Plant and Equipment
- Factory Equipment
- Furniture and
fixtures
- Vehicles
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 records 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
|
INR |
|
US Dollar |
1 |
INR 63.92 |
|
|
1 |
INR 89.54 |
|
Euro |
1 |
INR 79.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
PYK |
|
|
|
|
Report Prepared
by : |
TRUP |
SCORE FACTORS
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.