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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

488196

Report Date :

25.01.2018

 

IDENTIFICATION DETAILS

 

Name :

METECNO (INDIA) PRIVATE LIMITED

 

 

Registered Office :

138/30, 2nd Floor, Florida Towers, Nelson Manickam Road, Chennai – 600029, Tamilnadu

Tel. No.:

91-44-45608800

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

05.12.2005

 

 

Com. Reg. No.:

18-058201

 

 

Capital Investment / Paid-up Capital :

INR 537.352 Million

 

 

CIN No.:

[Company Identification No.]

U45309TN2005PTC058201

 

 

IEC No.:

0405027184

 

 

TIN No.:

33141663419

 

 

GSTIN :

33AAECM4690F1ZJ

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Divulged

 

 

PAN No.:

[Permanent Account No.]

AAECM4690F

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of Sandwiched Insulation Panels and Related Installation Activity. (Registered Activity and also Confirmed by management)

 

 

No. of Employees :

70 (Approximately)

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Exist

 

 

Comments :

Subject was incorporated in the year 2005. “Metecno SPA”, Italy holds 43% stake in the company, “Simest SPA”, Italy holds 34% stake in the company and remaining 23% stake is held by Metecno Holding Asia BV, Netherlands.

 

It is a manufacturer, exporter and importer of sandwiched insulation panels and related installation activity.

 

For the financial year 2017, the revenue of the company has increased by 16.42% but has incurred operational loss.

 

The moderate financial profile of the company is marked by negative reserve base along with comfortable debt coverage indicators.

 

However, rating weakness is partially offset by strong financial and managerial support that company receives from its major shareholder backed by its well experience management team.

 

Payments are reported to be slow but correct.

 

In view of aforesaid, the company can be considered for business dealings with some caution.   

 

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

CARE

Rating

Long term bank facilities : BB-

Rating Explanation

Moderate risk of default

Date

11.09.2017

 

Rating Agency Name

CARE

Rating

Short term bank facilities : A4

Rating Explanation

Minimal degree of safety and very high credit risk

Date

11.09.2017

 

 

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 25.01.2018

 

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 PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Mephew

Designation :

Finance Manager

Contact No.:

91-44-45608800

Date :

24.01.2018

 

 

LOCATIONS

 

Registered Office :

138/30, 2nd Floor, Florida Towers, Nelson Manickam Road, Chennai-600029, Tamilnadu, India 

Tel. No.:

91-44-45608800

Fax No.:

91-44 43553351

E-Mail :

enquiry@metecno.in

forte@metecno.it

Website :

http://www.metecno.in

 

 

Factory:

E-11, SIPCOT Industrial Area, NH-4, Sriperumbudur, Kancheepuram District, Tamilnadu, India

 

 

Branch Offices :

Located at :

 

·         Mumbai

·         Delhi

·         Lucknow

·         Bangalore

·         Hyderabad

·         Kerala

·         Raipur

·         Kolkata

·         Jharsuguda

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Prabhudas Sreedhar

Designation :

Director

Address :

H. No. 8-8-231/A/123,124, Sri Krishna Nagar, Yousufguda, Hyderabad - 500045, Telangana, India

Date of Birth/Age :

07.12.1968

Qualification :

M.A., M.B.A

Date of Appointment :

21.08.2013

PAN No.:

BQSPS0078M

DIN No.:

06664204

 

 

Name :

Mr. Umamaheswaran

Designation :

Director

Address :

No.56, Bakyalakshmi Nagar, Main Road, Alapakkam, Chennai - 600116, Tamilnadu, India

Qualification :

MBA

Date of Appointment :

12.12.2014

PAN No.:

AAJPU5956G

DIN No.:

06881308

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U74900TN2014PTC096418

METECNO INDIA PROJECTS PRIVATE LIMITED

04/07/2014

-

 

 

Name :

Mr. Ramakrishnan Vivekanandan

Designation :

Director

Address :

No.52, Narasimalu Street, 1C, Indira Enclave, Aminjikarai, Chennai - 600029, Tamilnadu, India 

Date of Appointment :

29.05.2017

DIN No.:

06598485

 

 

KEY EXECUTIVES

 

Name :

Mr. Vasudevan Ramasamy

Designation :

Company Secretary

Address :

Flat 2B, East Palm, II School Road, R. A. Puram, Chennai - 600028, Tamilnadu, India  

Date of Birth/Age :

24.10.1958

Date of Appointment :

19.10.2006

PAN No.:

AHNPR1892F

 

MAJOR SHAREHOLDERS

 

As on 31.03.2017

 

Names of Shareholders

No. of Shares

% of Holding

Metecno SpA, Italy

22949999

42.71

Simest SpA, Italy

18558404

34.54

Metecno Holdings Asia BV, Netherlands

12226811

22.75

Total

53735214

100.00

 

 

 

As on 09.05.2017

 

Names of Allottee

 

No. of Shares

Metecno Holdings Asia BV, Netherlands

 

653382

Total

 

653382

 

Equity Share Break up (Percentage of Total Equity)

 

As on 27.09.2017

 

Category

Percentage

Public/Other than promoters (Body corporate)

100.00

Total 

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of Sandwiched Insulation Panels and Related Installation Activity. (Registered Activity and also Confirmed by management)

 

 

Products / Services :

Item Code No.

Products/Services Description

73089090

Sandwich Insulated

Panels and Others

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :

·         Sri Lanka

·         Vietnam 

 

 

Imports :

 

Products :

Raw Material

Countries :

Italy

 

 

Terms :

 

Selling :

L/C, Others (RTGS)

 

 

Purchasing :

L/C, Others (RTGS)

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

Manufacturer

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

70 (Approximately)

 

 

Bankers :

Banker Name :

State Bank of India

Branch :

Not Divulged

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Rupee term loans from banks

140.396

174.456

Short-term borrowings

 

 

Rupee term loans from banks

0.000

8.942

Working capital loans from banks

59.041

57.064

Total

199.437

240.462

 

Auditors :

 

Name :

Sundararajan Associates

Chartered Accountants

Address :

Romar House,  Chamber D, Third Floor, 6/9, Jaganathan Road, Nungambakkam, Chennai – 600034, Tamilnadu, India

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

AABFS4109F

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company :

Metecno SpA, Italy

 

 

Fellow Subsidiary Companies :

·         Metecno Panelli (Thailand) Company Limited, Thailand

·         Metecno Espana SA, Spain

·         Metecno Lanka, Sri Lanka

·         Metecno Vietnam Limited, Vietnam

·         Metecno Bausysteme GmbH, Germany

·         Metecno, Thailand

 

 

Associates :

·         Metecno Holding Asia BV

·         Simest SPA

 

 

CAPITAL STRUCTURE

 

After 27.09.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

60000000

Equity Shares

INR 10/- each

INR 600.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

54388596

Equity Shares

INR 10/- each

INR 543.886 Million

 

 

 

 

 

As on 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

60000000

Equity Shares

INR 10/- each

INR 600.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

53735214

Equity Shares

INR 10/- each

INR 537.352 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2017

31.03.2016

31.03.2015

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

537.352

534.615

515.965

(b) Reserves & Surplus

(258.105)

(263.766)

(256.217)

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

6.534

0.000

0.000

Total Shareholders’ Funds (1) + (2)

285.781

270.849

259.748

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

140.396

174.456

180.374

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

2.222

1.519

1.113

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

142.618

175.975

181.487

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

59.041

66.006

59.491

(b) Trade payables

201.025

183.261

172.999

(c) Other current liabilities

106.328

75.819

66.233

(d) Short-term provisions

0.281

0.326

1.715

Total Current Liabilities (4)

366.675

325.412

300.438

 

 

 

 

TOTAL

795.074

772.236

741.673

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

320.899

321.881

345.200

(ii) Intangible Assets

0.138

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

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

3.420

3.864

3.741

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

324.457

325.745

348.941

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

140.083

128.656

125.924

(c) Trade receivables

197.081

209.189

188.313

(d) Cash and cash equivalents

77.343

31.615

17.697

(e) Short-term loans and advances

56.110

77.031

60.798

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

470.617

446.491

392.732

 

 

 

 

TOTAL

795.074

772.236

741.673

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

913.102

784.314

678.479

 

Other Income

2.658

5.487

6.984

 

TOTAL

915.760

789.801

685.463

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

665.088

561.634

505.094

 

Purchases of Stock-in-Trade

24.682

32.898

27.123

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(3.235)

(1.655)

(4.232)

 

Employees benefits expense

61.737

50.691

54.214

 

Other expenses

86.962

72.892

87.640

 

TOTAL

835.234

716.460

669.839

 

 

 

 

 

 

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

80.526

73.341

15.624

 

 

 

 

 

Less

FINANCIAL EXPENSES

50.287

53.662

68.046

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

30.239

19.679

(52.422)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

24.578

27.228

26.865

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

5.661

(7.549)

(79.287)

 

 

 

 

 

Less

TAX

0.000

0.000

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

5.661

(7.549)

(79.287)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

34.322

4.461

32.703

 

TOTAL EARNINGS

34.322

4.461

32.703

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

4.735

12.821

1.290

 

Consumable Stores

2.905

0.576

0.223

 

Capital Goods

11.688

2.026

0.000

 

Foreign Travels

0.203

0.075

0.224

 

Others

4.453

0.000

3.102

 

TOTAL IMPORTS

23.984

15.498

4.839

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

0.11

(0.15)

(1.66)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

24.000

6.000

16.950

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

131.860

62.042

60.360

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

78.78

97.35

101.31

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

4.63

3.75

3.60

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

106.37

112.51

118.64

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.57

0.57

0.12

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.25

0.23

0.05

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.67

0.66

0.67

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.78

0.91

0.99

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

1.28

1.20

1.16

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

1.12

1.19

1.33

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

1.60

1.37

0.23

 

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

0.62

(0.96)

(11.69)

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

0.71

(0.98)

(10.69)

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

1.98

(2.79)

(30.52)

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.28

1.37

1.31

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.90

0.98

0.89

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.36

0.35

0.35

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

0.42

0.46

0.50

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.28

1.37

1.31

 

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

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Share Capital

515.965

534.615

537.352

Reserves & Surplus

(256.217)

(263.766)

(258.105)

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

6.534

Net worth

259.748

270.849

285.781

 

 

 

 

long-term borrowings

180.374

174.456

140.396

Short term borrowings

59.491

66.006

59.041

Current maturities of long-term debts

16.950

6.000

24.000

Total borrowings

256.815

246.462

223.437

Debt/Equity ratio

0.989

0.910

0.782

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

678.479

784.314

913.102

 

 

15.599

16.420

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

678.479

784.314

913.102

Profit/ (Loss)

(79.287)

(7.549)

5.661

 

(11.69%)

(0.96%)

0.62%

 

 

 

LEGAL CASES

 

DISTRICT AND SESSIONS JUDGE, SOUTH-EAST , SAKET

 

CASE DETAILS

 

Case Type: CS DJ - CIVIL SUIT FOR DJ ADJ

Filing Number: 35268/2014

Filing Date: 16-12-2014

Registration Number: 208090/2016

Registration Date: 17-12-2014

CNR Number: DLSE01-001462-2014



CASE STATUS

First Hearing Date: 31st January 2015

Next Hearing Date: 03rd December 2016

Stage of Case: Final Arguments

Court Number and Judge: 14-Additional District Judge

 

PETITIONER AND ADVOCATE

 

1) Samvardhana Motherson Refrigeration Products Limited

Address - IInd Floor, F-7, Block B-1, Mohan Co-Operative Industrial Estate, Mathura Road, New Delhi

 


RESPONDENT AND ADVOCATE

 

1) Metecno India Private Limited

 Address - 13830, 2nd Floor, Florida Towers, Nelson Manicam Road,


2) Forte Amedeo (Director)

 Melegari 10 A2, CG Renda Elisabetta, Genova, 10, Italy.

 
3) Manapakkam Nagasundaram Nagasekar (Director)

P. No. D-2, Block No. 3, Iind Floor, Jains Akshaya, Phase 3, New No. 199(Old No. 30-31) Arcot Road, Virugambakkam,

     
4) Krishanan Iyer Mahadevan (Director)

No. 32, central excise layout, 3rd cross street, vijayanagar,

    
5) Prabhudas Sreedhar (Director)

H. No. 8-8231a123, 124, Sri Krishna Nagar, Yousufguda,

 

 

 

History of Case Hearing

 

Registration Number

Judge

Business On Date

Hearing Date

Purpose of hearing

208090/2016

Additional District Judge

31-01-2015

23-03-2015

Misc. cases

208090/2016

Additional District Judge

23-03-2015

27-04-2015

Issues

208090/2016

Additional District Judge

27-04-2015

29-05-2015

Issues

208090/2016

Additional District Judge

29-05-2015

18-08-2015

Misc. Arguments

208090/2016

Additional District Judge

18-08-2015

15-10-2015

Misc. Arguments

208090/2016

Additional District Judge

15-10-2015

02-11-2015

Order/Judgment

208090/2016

Additional District Judge

02-11-2015

07-01-2016

Issues

208090/2016

Additional District Judge

07-01-2016

02-04-2016

Plaintiff/Petitioner Evidence

208090/2016

Additional District Judge

02-04-2016

25-05-2016

Plaintiff/Petitioner Evidence

208090/2016

Additional District Judge

25-05-2016

20-08-2016

Plaintiff/Petitioner Evidence

208090/2016

Additional District Judge

20-08-2016

15-10-2016

Final Arguments

208090/2016

Additional District Judge

15-10-2016

03-12-2016

Final Arguments

 

ORDERS

 

 

Order Number

Order Date

Order Details

1

20-08-2016

  COPY OF JUDICIAL PROCEEDINGS

2

15-10-2016

  COPY OF ORDER

 

 

 

 

 

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

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)

Yes

16]

No. of employees

Yes

17]

Details of sister concerns

Yes

18]

Major suppliers

No

19]

Major customers

No

20]

Banking Details

Yes

21]

Banking facility details

Yes

22]

Conduct of the banking account

--

23]

Financials, if provided

Yes

24]

Capital in the business

Yes

25]

Last accounts filed at ROC, if applicable

Yes

26]

Turnover of firm for last three years

Yes

27]

Reasons for variation <> 20%

--

28]

Estimation for coming financial year

No

29]

Profitability for last three years

Yes

30]

Major shareholders, if available

Yes

31]

External Agency Rating, if available

Yes

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: Registered office of the company has been shifted from 58D, SIDCO Industrial Estate, Ambattur, Chennai-600098, Tamilnadu, India to the present address w.e.f. 15.05.2006

 

 

INDEX OF CHARGES

 

S

No

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Amount

Address

1

B88696414

10031448

STATE BANK OF INDIA

21/12/2006

12/10/2013

554300000.0

COMMERCIAL BANKNO.232 NSC BOSE ROAD CHENNAI TAMILNADU 600001 INDIA

 

 

FIXED ASSETS

 

·         Land

·         Buildings

·         Plant and Equipment

·         Furniture and Fixtures

·         Vehicles

·         Office Equipment

·         Computer Equipments

·         Other Equipments

·         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 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 63.64

UK Pound

1

INR 89.32

Euro

1

INR 78.45

 

 

INFORMATION DETAILS

 

Information Gathered by :

SHW

 

 

Analysis Done by :

VAR

 

 

Report Prepared by :

JYTK

 

 

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

YES

--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)

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

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

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