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MIRA INFORM REPORT
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Report No. : |
486887 |
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Report Date : |
19.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
USHA INTERNATIONAL LIMITED (w.e.f. 20.06.2008) |
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Formerly Known
As : |
THE JAY ENGINEERING WORKS LIMITED (w.e.f. 17.03.1938) THE JAY ENGINEERING WORKS PRIVATE LIMITED |
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Registered
Office : |
Surya Kiran Building, 19, Kasturba Gandhi Marg, New Delhi-110001 |
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Tel. No.: |
91-11-23318114 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
08.11.1935 |
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Com. Reg. No.: |
55-007123 |
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Capital
Investment / Paid-up Capital : |
INR 479.840 Million |
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CIN No.: [Company Identification
No.] |
U74210DL1935PLC007123 |
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IEC No.: |
0588046311 |
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GST No.: |
07AAACT0066A1ZZ |
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TIN No.: |
07040077759 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELU02431C |
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PAN No.: [Permanent Account No.] |
AAACT0066A [Active] AAACU0032B [Cancelled] |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the Manufacturing, Assembling and Trading of Electrical Fans, Sewing Machines with Accessories, etc. [Registered Activity] [Note: Line of Business has been updated as per Annual Report 2015] |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 3799000 |
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Status : |
Good |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in 1935. It is engaged in the Manufacturing, Assembling and Trading of Electrical Fans, Sewing Machines with Accessories, etc. As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to the financial for the year 31.03.2017 are not available from any sources. The rating favorably factor in long and established track record of business operations along with promoters extensive industry experience. The rating is constrained on account of continuous losses incurred by the company since last two financial years along with its existence in highly competitive market segment. However, trade relations are fair. Business is active. Payment terms are slow but correct. In view of aforesaid, the company can be considered for business dealings with 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.
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 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Loans=BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
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Date |
07.02.2017 |
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|
|
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Rating Agency Name |
ICRA |
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Rating |
Short Term Loans=A3+ |
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Rating Explanation |
Moderate degree of safety and higher credit risk |
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Date |
07.02.2017 |
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
31-03-2016.
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 19.01.2018.
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 DECLINED
MANAGEMENT NON-COOPERATIVE
[Contact No: 91-11-23318114]
[91-124-4583100/ 40-2378900 is ringing]
LOCATIONS
|
Registered Office : |
Surya Kiran Building, 19, Kasturba Gandhi Marg, New Delhi-110001,
India |
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Tel. No.: |
91-11-23318114 |
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Fax No.: |
91-11-23318118/ 23318119 |
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E-Mail : |
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Website : |
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Head Office : |
Plot No.15, Institutional Area, Sector-32, Gurugram – 122 001,
Haryana, India [Gurgaon city has now officially
been renamed as Gurugram] |
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Tel. No.: |
91-124-4583100 |
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Fax No.: |
91-124-4583200/ 2883300 |
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Email : |
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Regional Office
: |
Balanagar Township, Hyderabad – 500 037, Telangana,
India [On 2 June
2014, Telangana became the 29th state of India, consisting of the ten
north-western districts of Andhra Pradesh with Hyderabad as its
capital. The city of Hyderabad will continue to serve as the joint
capital for Andhra Pradesh and the successor state of Telangana for a period
of ten years. As a result of which both the state have their own registrar of
companies offices and the said subject is now transferred from Andhra Pradesh
ROC (State Code-01) to Telangana ROC (State Code-36).] |
|
Tel. No.: |
91-40-23078900 |
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Other Regional
Office : |
Located at: · Ahmedabad · Bangalore · Chennai · Cuttack · Ernakulam · Ghaziabad · Guwahati · Indore · Jaipur · Jalandhar · Kolkata · Mumbai |
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International
Offices:
|
Located at: ·
China ·
Sri Lanka |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Ms. Chhaya Shriram |
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Designation : |
Whole-Time Director |
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Address : |
D-46 Malcha Marg, Chankya Puri, New Delhi-110021, India |
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Date of Birth/Age : |
18.02.1969 |
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Qualification : |
Graduate |
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Date of Appointment : |
23.06.2008 |
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PAN No.: |
AABPS4859C |
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DIN No.: |
00027813 |
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Other Directorship :
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Name : |
Mr. Krishna Shriram |
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Designation : |
Whole-Time Director |
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Address : |
D-46, Malcha Marg, New Delhi- 110021, India |
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Date of Birth/Age : |
03.06.1970 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.06.2016 |
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PAN No.: |
AABPS4899L |
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DIN No.: |
00031783 |
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Other Directorship :
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Name : |
Mr. Nandan Kumar Goila |
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Designation : |
Director |
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Address : |
A-65/1, SFS Flats, Saket, New Delhi-110017, Delhi, India |
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Date of Birth/Age : |
14.04.1947 |
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Qualification : |
B.Tech |
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Date of Appointment : |
30.08.1996 |
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PAN No.: |
AAAPG0939J |
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DIN No.: |
00025007 |
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Other Directorship :
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Name : |
Mr. Anil Kumar Jain |
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Designation : |
Director |
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Address : |
C-2 Sector - 20, Noida-201301, Uttar Pradesh, India |
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Date of Birth/Age : |
18.03.1951 |
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Qualification : |
B.Com, AICWA |
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Date of Appointment : |
23.06.2008 |
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DIN No.: |
00027911 |
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Other Directorship :
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Name : |
Mr. Pramod Kumar Bhalla |
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Designation : |
Director |
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Address : |
H.No.3509, DLF Phase-IV, Gurugram - 122002, Haryana, India |
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Date of Birth/Age : |
08.07.1952 |
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Qualification : |
B.Sc., LLB, FCS |
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Date of Appointment : |
30.10.2007 |
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DIN No.: |
00035955 |
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Other Directorship :
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Name : |
Mr. Anand Kumar Chowdhury |
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Designation : |
Director |
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Address : |
R-680, New Rajinder Nagar, New Delhi-110060, India |
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Date of Birth/Age : |
04.04.1944 |
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Qualification : |
M.A. |
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Date of Appointment : |
23.06.2008 |
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PAN No.: |
AADPC9787H |
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DIN No.: |
00044601 |
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Other Directorship :
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Name : |
Mr. Vinod Kumar Wazir |
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Designation : |
Director |
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Address : |
C - 515, Defence Colony, New Delhi-110024, India |
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Date of Birth/Age : |
07.07.1939 |
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Qualification : |
B.A. and B.E. |
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Date of Appointment : |
23.06.2008 |
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DIN No.: |
01503448 |
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Other Directorship :
|
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Notes:
1. As per our previous database, Mr. Raj Pandit, Mr. Siddharth Shriram were the directors of the company, however, they does not appear in the current government registry records and the same could not be confirmed with the management as well.
2. Date of appointment of the directors has been updated as per the latest government registry records.
KEY EXECUTIVES
|
Name : |
Mr. Manish Gupta |
|
Designation : |
Company Secretary |
|
Address : |
301/37, Heritage City, Gurugram – 122001, Haryana, India |
|
Date of Birth/Age : |
06.01.1974 |
|
Qualification : |
LLB |
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Date of Appointment : |
14.08.2013 |
|
PAN No.: |
AFMPG6388J |
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|
|
|
Name : |
Mr. Dinesh Chhabra |
|
Designation : |
Chief Executive Officer |
|
Address : |
C 604, Wembley Estate, Rosewood City, Sector – 50, Gurugram – 122002, Haryana, India |
|
Date of Birth/Age : |
16.05.1963 |
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Qualification : |
CA |
|
Date of Appointment : |
27.08.2014 |
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PAN No.: |
ADQPC2622M |
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|
|
|
Name : |
Mr. Saibal Sengupta |
|
Designation : |
Chief Financial Officer |
|
Address : |
801, Ari Hant Altura, Plot No. GH 3, Abhay Khand-2, Indirapuram, Shipra Sun City, Ghaziabad – 201014, Uttar Pradesh, India |
|
Date of Appointment : |
01.08.2016 |
|
PAN No.: |
AITPS5733P |
Note:
As per our previous database records, Ms. Archana Maini were the Secretary of the company, however, she does not appear in the current government registry records and the same could not be confirmed with the management as well.
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders [Equity Shares] |
|
No. of Shares |
|
Krishna Shriram |
|
18139810 |
|
Enterprise Trust* |
|
14847028 |
|
Zafira Trust** |
|
203 |
|
Zafira Trust*** |
|
14395897 |
|
Chhaya Shriram |
|
600364 |
|
Siddharth Shriram jointly with Roula Shriram |
|
117 |
|
Terrestrial Mkt. Private Limited |
|
295 |
|
Pramod Kumar Bhalla |
|
1 |
|
|
|
|
|
Total |
|
47983715 |
|
Names of Shareholders [Preference Shares] |
|
No. of Shares |
|
Krishna Shriram |
|
7200000 |
|
|
|
|
|
Total |
|
7200000 |
Notes:
*Siddharth Shriram holds the shares as a Trustee of Enterprise Trust.
**Siddharth Shriram jointly with Chhaya Shriram holds the shares as a Trustee of Zafira Trust.
***Chhaya Shriram jointly with Siddharth Shriram holds the shares as a Trustee of Zafira Trust.
AS ON: 01.12.2017
|
Names of Allottee [Preference Shares] |
|
No. of Shares |
|
Krishna Shriram |
|
19800000 |
|
|
|
|
|
Total |
|
19800000 |
AS ON: 16.08.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
39.06 |
|
Promoters – Others [Trust] |
60.94 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the Manufacturing, Assembling and Trading of Electrical Fans, Sewing Machines with Accessories, etc. [Registered Activity] [Note: Line of Business has been updated as per Annual Report 2015] |
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||||
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Products/ Services : |
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||||
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||||
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
||||
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||||
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Exports : |
Not Divulged |
||||
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||||
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Imports : |
Not Divulged |
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||||
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Terms : |
|
||||
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Selling : |
Not Divulged |
||||
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|
||||
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||
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Bankers : [As on 31.03.2016] |
· Small Industries Development Bank of India Ground Floor, Videocon Tower, E-1, Rani Jhansi Road, Jhandewalan Extension,, New Delhi - 110055, Delhi, India · Bank of Baroda Corporate Financial Services (Large Corporate) Br., Ground Floor, 16, Parliament Street, New Delhi - 110001, Delhi, India · IDBI Bank Limited 3rd Floor, Indian Red Cross Society Building, 1, Red Cross Road, opposite to Parliament House, New Delhi – 110001, India |
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Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte
Haskins and Sells Chartered Accountants |
|
Address : |
7th Floor, Building No. 10, Tower B, DLF Cyber City Complex, DLF City, Phase-II, New Delhi, India |
|
PAN No.: |
AABFD2095B |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Companies : [As on 31.03.2017] |
· Mawana Foods Private Limited, India [U74899DL2006PTC144412] · Guangzhou Usha International Limited · Usha Heights Private Limited, India [U70200DL2014PTC265529] · Goldilocks India Private Limited ( w.e.f. August 10,2015) |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : [As on 31.03.2016] |
VV Servotech Private Limited, Indai [U40105DL1998PTC094903] |
|
|
|
|
Other Related Parties : [As on 31.03.2016] |
·
Mawana Sugars Limited, India
[L74100DL1961PLC003413] ·
Enterprise Trust ·
Zafira Trust ·
Terrestrial Marketing Private Limited, India [U74899DL1967PTC004706] |
CAPITAL STRUCTURE
AFTER: 16.08.2017
Authorised Capital : INR
1000.000 Million
Issued, Subscribed & Paid-up Capital : INR 749.837
Million
AS ON: 16.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
70000000 |
Equity Shares |
INR 10/- each |
INR 700.000 Million |
|
30000000 |
Preference Shares |
INR 10/- each |
INR 300.000 Million |
|
|
Total |
|
INR 1000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47983715 |
Equity Shares |
INR 10/- each |
INR 479.837 Million |
|
7200000 |
Preference Shares |
INR 10/- each |
INR 72.000 Million |
|
|
Total |
|
INR 551.837
Million |
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
INR 10/- each |
INR 1000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47983715 |
Equity Shares |
INR 10/- each |
INR 479.840
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
479.840 |
479.840 |
479.840 |
|
(b) Reserves and Surplus |
849.970 |
1039.030 |
1563.750 |
|
(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) |
1329.810 |
1518.870 |
2043.590 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
192.630 |
425.460 |
687.700 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
13.170 |
|
(c) Other long-term
liabilities |
118.790 |
107.100 |
120.110 |
|
(d) long-term provisions |
52.970 |
53.160 |
46.490 |
|
Total Non-current
Liabilities (3) |
364.390 |
585.720 |
867.470 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
2797.200 |
3313.540 |
2958.570 |
|
(b) Trade
payables |
2723.710 |
2753.500 |
1759.710 |
|
(c) Other
current liabilities |
1176.970 |
905.680 |
926.180 |
|
(d) Short-term
provisions |
124.310 |
108.820 |
114.620 |
|
Total Current
Liabilities (4) |
6822.190 |
7081.540 |
5759.080 |
|
|
|
|
|
|
TOTAL |
8516.390 |
9186.130 |
8670.140 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1397.280 |
1486.540 |
1549.540 |
|
(ii)
Intangible Assets |
615.180 |
760.140 |
912.830 |
|
(iii) Tangible assets capital
work-in-progress |
83.480 |
6.550 |
12.230 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
271.090 |
257.380 |
218.580 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
315.050 |
318.840 |
243.410 |
|
(e) Other
Non-current assets |
1.000 |
0.010 |
1.010 |
|
Total Non-Current
Assets |
2683.080 |
2829.460 |
2937.600 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3023.820 |
3995.480 |
3541.300 |
|
(c) Trade
receivables |
2003.680 |
1669.980 |
1429.820 |
|
(d) Cash and
bank balances |
462.180 |
443.520 |
545.490 |
|
(e)
Short-term loans and advances |
341.350 |
245.930 |
214.480 |
|
(f) Other
current assets |
2.280 |
1.760 |
1.450 |
|
Total
Current Assets |
5833.310 |
6356.670 |
5732.540 |
|
|
|
|
|
|
TOTAL |
8516.390 |
9186.130 |
8670.140 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
21052.510 |
19144.170 |
18540.010 |
|
|
Other Income |
113.740 |
136.190 |
124.900 |
|
|
TOTAL |
21166.250 |
19280.360 |
18664.910 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1265.230 |
1389.980 |
1332.950 |
|
|
Purchases of
Stock-in-Trade |
11927.130 |
12226.210 |
11853.600 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
989.300 |
(487.670) |
(427.420) |
|
|
Employee benefit expense |
1793.470 |
1751.050 |
1530.750 |
|
|
Other expenses |
4556.420 |
4151.340 |
4023.240 |
|
|
Exceptional items before tax |
0.000 |
0.000 |
444.280 |
|
|
TOTAL |
20531.550 |
19030.910 |
18757.400 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
634.700 |
249.450 |
(92.490) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
442.410 |
355.890 |
359.120 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
192.290 |
(106.440) |
(451.610) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
317.110 |
348.780 |
319.220 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(124.820) |
(455.220) |
(770.830) |
|
|
|
|
|
|
|
Less |
TAX |
0.710 |
(5.750) |
(104.220) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(125.530) |
(449.470) |
(666.610) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
17.050 |
8.480 |
622.460 |
|
|
TOTAL EARNINGS |
17.050 |
8.480 |
622.460 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
61.820 |
78.530 |
88.710 |
|
|
Components and spare
parts |
2167.000 |
2239.730 |
2613.850 |
|
|
Capital Goods |
89.070 |
23.240 |
32.160 |
|
|
TOTAL IMPORTS |
2317.890 |
2341.500 |
2734.720 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(2.612) |
(9.37) |
(13.89) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
348.640 |
262.240 |
307.350 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
1353.620 |
450.890 |
282.370 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
1329.680 |
433.040 |
230.550 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
34.74 |
31.84 |
28.15 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
10.51 |
11.46 |
12.97 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
75.36 |
73.81 |
48.71 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.21 |
0.06 |
(0.03) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.30 |
0.11 |
(0.04) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.86 |
0.85 |
0.78 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.51 |
2.63 |
1.93 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
5.13 |
4.66 |
2.82 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.58 |
1.48 |
1.21 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.43 |
0.70 |
(0.26) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(0.60) |
(2.35) |
(3.60) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(1.47) |
(4.89) |
(7.69) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(9.44) |
(29.59) |
(32.62) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.86 |
0.90 |
1.00 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.41 |
0.33 |
0.38 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.16 |
0.17 |
0.24 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
6.96 |
8.34 |
8.24 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.86 |
0.90 |
1.00 |
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 |
479.840 |
479.840 |
479.840 |
|
Reserves & Surplus |
1563.750 |
1039.030 |
849.970 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2043.590 |
1518.870 |
1329.810 |
|
|
|
|
|
|
Long-term borrowings |
687.700 |
425.460 |
192.630 |
|
Short term borrowings |
2958.570 |
3313.540 |
2797.200 |
|
Current maturities of
long-term debts |
307.350 |
262.240 |
348.640 |
|
Total
borrowings |
3953.620 |
4001.240 |
3338.470 |
|
Debt/Equity
ratio |
1.935 |
2.634 |
2.510 |
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 |
18540.010 |
19144.170 |
21052.510 |
|
|
|
3.259 |
9.968 |
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 |
18540.010 |
19144.170 |
21052.510 |
|
Profit/ (Loss) |
(666.610) |
(449.470) |
(125.530) |
|
|
(3.60
%) |
(2.35
%) |
(0.60
%) |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
479.840 |
479.840 |
|
(b) Reserves and Surplus |
|
703.970 |
900.610 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
1183.810 |
1380.450 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
192.630 |
425.460 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
122.260 |
110.850 |
|
(d) long-term
provisions |
|
56.820 |
58.300 |
|
Total Non-current
Liabilities (3) |
|
371.710 |
594.610 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
2819.600 |
3347.920 |
|
(b) Trade
payables |
|
2800.780 |
2809.320 |
|
(c) Other
current liabilities |
|
1201.850 |
924.860 |
|
(d) Short-term
provisions |
|
125.080 |
110.130 |
|
Total Current
Liabilities (4) |
|
6947.310 |
7192.230 |
|
|
|
|
|
|
TOTAL |
|
8502.830 |
9167.290 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1399.700 |
1490.240 |
|
(ii)
Intangible Assets |
|
702.610 |
847.800 |
|
(iii) Tangible assets
capital work-in-progress |
|
83.480 |
6.550 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
104.110 |
103.740 |
|
(c) Deferred tax assets (net) |
|
1.500 |
0.000 |
|
(d)
Long-term loans and advances |
|
340.660 |
330.510 |
|
(e) Other
Non-current assets |
|
1.520 |
0.450 |
|
Total Non-Current
Assets |
|
2633.580 |
2779.290 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
3067.450 |
4033.970 |
|
(c) Trade
receivables |
|
2062.390 |
1700.060 |
|
(d) Cash and
bank balances |
|
479.510 |
460.840 |
|
(e)
Short-term loans and advances |
|
257.620 |
191.330 |
|
(f) Other
current assets |
|
2.280 |
1.800 |
|
Total
Current Assets |
|
5869.250 |
6388.000 |
|
|
|
|
|
|
TOTAL |
|
8502.830 |
9167.290 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
22169.090 |
20152.780 |
|
|
Other Income |
|
96.750 |
152.600 |
|
|
TOTAL |
|
22265.840 |
20305.380 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
1265.230 |
1389.980 |
|
|
Purchases of
Stock-in-Trade |
|
12937.840 |
13185.050 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
984.160 |
(504.020) |
|
|
Employee benefit expense |
|
1934.190 |
1881.160 |
|
|
Other expenses |
|
4491.270 |
4130.300 |
|
|
TOTAL |
|
21612.690 |
20082.470 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
653.150 |
222.910 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
452.520 |
363.590 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
200.630 |
(140.680) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
319.500 |
351.710 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(118.870) |
(492.390) |
|
|
|
|
|
|
|
Less |
TAX |
|
14.240 |
9.330 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(133.110) |
(501.720) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
(2.77) |
(10.46) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
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 |
No |
|
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 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G10889061 |
10611687 |
IDBI BANK LIMITED |
17/12/2015 |
26/07/2016 |
- |
500000000.0 |
3RD FLOOR, INDIAN RED CROSS SOCIETY BUILDING,1, RED CROSS ROAD, OPPOSITE TO PARLIAMENT HOUSENEW DELHIDL110001IN |
|
2 |
C60977162 |
10584413 |
IDBI BANK LIMITED |
09/06/2015 |
- |
- |
300000000.0 |
3RD FLOOR, INDIAN REDCROSS SOCIETY BUILDING1, REDCROSS ROAD, OPPOSITE TO PARLIAMENT HOUSENEW DELHIDL110001IN |
|
3 |
B21697131 |
10308512 |
BANK OF BARODA |
01/09/2011 |
- |
- |
250000000.0 |
CORPORATE FINANCIAL SERVICES (LARGE CORPORATE) BR.GROUND FLOOR, 16, PARLIAMENT STREET,NEW DELHIDL110001IN |
|
4 |
B64814643 |
10279378 |
IDBI BANK LTD |
28/03/2011 |
29/11/2012 |
- |
1000000000.0 |
VIDEOCON TOWER, 1ST FLOORE - 1, JHANDEWALAN EXTENSIONNEW DELHIDL110055IN |
|
5 |
B08478190 |
10273113 |
BANK OF BARODA |
10/02/2011 |
- |
- |
560000000.0 |
CORPORATE FINANCIAL SERVICES (LARGE CORPORATE) BR.BANK OF BARODA BUILDING, 16, PARLIAMENT STREET,NEW DELHIDL110001IN |
|
6 |
A90607490 |
10231870 |
BANK OF BARODA |
07/07/2010 |
- |
- |
100000000.0 |
CORPORATE FINANCIAL SERVICES (LARGE CORPORATE) BR.GROUND FLOOR, 16, PARLIAMENT STREET,NEW DELHIDL110001IN |
|
7 |
A77672400 |
10199772 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
23/01/2010 |
- |
- |
250000000.0 |
GROUND FLOOR, VIDEOCON TOWER, E-1RANI JHANSI ROAD, JHANDEWALAN EXTENSION,NEW DELHIDL110055IN |
|
8 |
Y10131483 |
90051388 |
PUNJAB NATIONAL BANK |
11/03/2005 |
28/09/2006 |
- |
30000000.0 |
CMO, BANK STREETABIDSHYDERABADAP500001IN |
|
9 |
B70779541 |
90042721 |
BANK OF BARODA |
20/03/2000 |
21/02/2013 |
- |
2850000000.0 |
CORPORATE FINANCIAL SERVICES (LARGE CORPORATE) BR.GROUND FLOOR, 16, PARLIAMENT STREET,NEW DELHIDL110001IN |
|
10 |
Y10122812 |
90042717 |
BANK OF BARODA |
15/03/2000 |
- |
- |
25000000.0 |
CORPORATE BANKING BRANCH16; PARLIAMENT STREETNEW DELHIDLIN |
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Leasehold improvements
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 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 63.84 |
|
UK Pound |
1 |
INR 88.28 |
|
Euro |
1 |
INR 77.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
NIY |
|
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Report Prepared
by : |
IND |
SCORE FACTORS
|
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 |
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.