MIRA INFORM REPORT
|
Report
Date : |
08.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
CAPITAL
FOODS EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
H- 11,
Laxmi Industrial Estate, New Link Road, Andheri (West), Mumbai – 400 053,
Maharashtra |
|
|
|
|
Country
: |
India |
|
|
|
|
Financials
(as on) : |
-- |
|
|
|
|
Date
of Incorporation : |
09.09.2003 |
|
|
|
|
Com.
Reg. No.: |
11-142121 |
|
|
|
|
CIN
No.: [Company
Identification No.] |
U51219MH2003PTC142121 |
|
|
|
|
TAN
No.: (Tax
Deduction & Collection Account No.) |
MUMC12531B |
|
|
|
|
PAN
No.: (Permanent
Account No.) |
AACCC2649A |
|
|
|
|
Legal
Form : |
Private Limited Liability Company |
|
|
|
|
Line
of Business : |
Manufacture and Dealer in Fresh Onions, Other Fresh
Vegetables, Dried Nuts(Walnuts), Fresh Mangoes, Fresh Grapes, Other Fresh
Fruits, Dried & Preserved
Vegetables, Pickle & Chutney, Other Processed Fruits &
Vegetable, Poultry Products, Processed Meat, Cereal Preparations,
Miscellaneous Preparations. |
RATING & COMMENTS
|
MIRA’s
Rating : |
Ca |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
11-25 |
Ca |
Adverse factors are apparent.
Repayment of interest and principal sums in default or expected to be in
default upon maturity |
Limited with full security |
|
Maximum
Credit Limit : |
|
|
|
|
|
Status
: |
Moderate |
|
|
|
|
Payment
Behaviour : |
Unknown |
|
|
|
|
Litigation
: |
Clear |
|
|
|
|
Comments
: |
The company has been successful in getting a large term
loan of Rs. 38.500 Millions from State Bank of India. The company has heavily
invested in plant and machinery. It’s estimated annual turnover is of Rs. 30.000 Millions. However in absence of financials and business details, it
is difficult to ascertain company’s current performance and financial status. In view of the aforesaid, the company can be considered
for any business dealings on safe and secured trade terms and conditions initially. |
LOCATIONS
|
Registered
Office : |
H- 11,
Laxmi Industrial Estate, New Link Road, Andheri (West), Mumbai – 400 053,
Maharashtra, India |
|
Tel.
No.: |
91-22-26359613-6 |
|
Fax
No.: |
91-22-56916577 |
|
E-Mail
: |
|
|
|
|
|
Corporate
office : |
Plot No.
27/28, Sector – 2, Kasez, Gandhidham, Gujarat, India |
|
Tel.
No.: |
91-22-26766201 |
|
Fax
No.: |
91-22-26791147 |
|
|
|
|
Factory
: |
E-16, MIDC, Ambad, Nasik – 422 010, Maharashtra |
DIRECTORS
|
Name : |
Mr. Ajay V. Gupta |
|
Designation
: |
Director |
|
Address
: |
605, 6th Floor, Mhada Building No. 7 , New Link
Road, Andheri (West), Mumbai – 400 053, Maharashtra, India |
|
Date
of Appointment : |
Since Incorporated |
|
|
|
|
Name : |
Mr. S. B. Bathija |
|
Designation
: |
Director |
|
Address
: |
E-16, MIDC, Ambad Nasik – 422 010 |
|
Date
of Appointment : |
Since Incorporated |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
Capital
Foods Limited |
|
4500 |
|
Mr. Ajay V. Gupta |
|
5500 |
|
|
|
|
BUSINESS DETAILS
|
Line
of Business : |
Manufacture and Dealer in Fresh Onions, Other Fresh Vegetables,
Dried Nuts(Walnuts), Fresh Mangoes, Fresh Grapes, Other Fresh Fruits, Dried
& Preserved Vegetables, Pickle
& Chutney, Other Processed Fruits & Vegetable, Poultry Products,
Processed Meat, Cereal Preparations, Miscellaneous Preparations. |
|
|
|
|
Products
: |
v Fresh Onions v Other Fresh Vegetables v Dried Nuts(Walnuts) v Fresh Mangoes v Fresh Grapes v Other Fresh Fruits v Dried & Preserved Vegetables v Pickle & Chutney v Other Processed Fruits &
Vegetable v Poultry Products v Processed Meat v Cereal Preparations v Miscellaneous Preparations |
GENERAL INFORMATION
|
Bankers
: |
State Bank of India, Backbay Reclamation Branch , Nariman
Point, Mumbai - 400 021 |
|
|
|
|
Facilities : |
Rs. 38.500 Millions (18/03/2004) [Hypothecation of goods and assets, book debts and al
other movable assets] |
|
|
|
|
Banking Relations : |
Unknown |
|
|
|
|
Auditors
: |
Mr. N. S. Padmanashan |
|
Address: |
104, Naseeb chs Limited, Vidya Mandir Marg, Vasai (West),
District Thane – 401 202. |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 10/- each |
Rs.0.100 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
No Financials are available from any sources.
Management remained non-co operative during current
investigation.
Efforts are continued for latest information and if
available, it will follow soon.
LOCAL AGENCY FURTHER INFORMATION
|
Name
of the company |
Capital Foods Exports
Private Limited |
||||||||||||||||||
|
Presented By |
State Bank of India, Backbay Reclamation Branch , Nariman
Point, Mumbai - 400 021 |
||||||||||||||||||
|
1) Date
and description of instrument creating the change |
Agreement
of loan for overall limit – Form C Agreement
of Hypothecation of goods and assets – Form C – 2 Letter
regarding the grant of individual limits within the overall limit Form 5 All the
above agreements the dated 18.03.200 and
executed for the creation of single charge. |
||||||||||||||||||
|
2) Amount
secured by the charge/amount owing on the securities of charge |
Rs.
38.500 millions
|
||||||||||||||||||
|
3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
All present and future goods, book debts and all other
movable assets of the Borrower including documents of title to the goods,
outstanding moneys, receivables by way of cash assistance and cash incentives
under the cash incentive scheme or any other scheme claims including claims
by way of refund of customs excise duties under the only drawback credit
scheme or any other scheme, bolls invoice, documents, contracts, insurance,
investments, and rights and all the present and future machinery. |
||||||||||||||||||
|
4) Gist
of the terms and conditions and extent and operation of the charge. |
ROI : Term Loan 11.75 % Repayment : [Term Loan] 60 monthly installments commencing from
October 2004 Margin :
|
||||||||||||||||||
|
5) Name
and Address and description of the person entitled to the charge. |
State Bank of India, Backbay Reclamation Branch , Nariman
Point, Mumbai - 400 021 |
||||||||||||||||||
|
6)
Date and brief description of
instrument modifying the charge |
NA |
||||||||||||||||||
|
7)
Particulars of modifications specifying the terms and conditions or the
extent of operations of the charge in which modification is made and the
details of the modification. |
NA |
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.45 |
|
UK Pound |
1 |
Rs.84.83 |
|
Euro |
1 |
Rs.57.12 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
- |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
- |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
- |
|
--RESERVES |
1~10 |
- |
|
--CREDIT
LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT
POINTS |
|
|
|
--BANK
CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER
ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE
DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT
ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
21 |
This
score serves as a reference to assess SC’s credit risk and to set the amount of
credit to be extended. It is calculated from a composite of weighted scores
obtained from each of the major sections of this report. The assessed factors
and their relative weights (as indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound
financial base with the strongest capability for timely payment of interest
and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working
capital. No caution needed for credit transaction. It has above average
(strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base
are regarded healthy. General unfavourable factors will not cause fatal
effect. Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable
factors carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent.
Repayment of interest and principal sums in default or expected to be in
default upon maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists.
Caution needed to be exercised |
Credit not recommended |