MIRA INFORM
REPORT
|
Report
Date : |
30.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
BIL TRADING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
N-86 |
|
|
|
|
Country
: |
|
|
|
|
|
Financials
(as on) : |
31.03.2006 |
|
|
|
|
Date
of Incorporation : |
25.05.2001 |
|
|
|
|
Com.
Reg. No.: |
55-110993 |
|
|
|
|
CIN
No.: [Company
Identification No.] |
U51909DL2001PTC110993 |
|
|
|
|
TAN
No.: (Tax
Deduction & Collection Account No.) |
DELB05053G |
|
|
|
|
Legal
Form : |
Private Limited Liability Company |
|
|
|
|
Line
of Business : |
Importers and Traders in Road Survey Equipments. |
RATING & COMMENTS
|
MIRA’s
Rating : |
B |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight
in credit consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
Maximum
Credit Limit : |
USD 31000 |
|
|
|
|
Status
: |
Small
Company |
|
|
|
|
Payment
Behaviour : |
Usually
Correct |
|
|
|
|
Litigation
: |
Clear |
|
|
|
|
Comments
: |
It is a
small company engaged in the business as importers and traders of Road Survey
Equipment. The company’s business is going on smoothly. Trade relations are
reported as fair. Payments are usually correct and as per commitments. Subject
can be considered for small business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered
Office : |
N-86 |
|
Tel.
No.: |
91-11-51632371
/ 51632372 / 51632373 |
|
Fax
No.: |
91-11-51632370 |
|
E-Mail
: |
|
|
|
|
|
Corporate
Office /Head Office : |
HS-4, 3rd
Floor, Shopping Complex, Kailash Colony, New Delhi-110048, |
|
Tel.
No.: |
91-11-51632371-5 |
|
Fax
No.: |
91-11-51632370 |
|
E-Mail
: |
|
|
Location : |
Commercial
|
|
|
|
|
Branch
Office : |
C-128, 2nd
Floor, Defence Colony, New Delhi-110024, |
|
Tel.
No.: |
91-11-24624790
/ 24658442 |
|
Fax
No.: |
91-11-24658487 |
|
E-mail
: |
DIRECTORS
|
Name |
Mr.
Ravinder Malhan |
|
Designation
|
Managing
Director |
|
Address
: |
N-86, |
|
Date
of Birth |
09.02.1955 |
|
Date of
Appointment |
05.11.2002 |
|
Name |
Mr.
Lajinder Singh Bawa |
|
Designation
|
Director |
|
Address
: |
N-86 |
|
Date
of Birth |
19.02.1961 |
|
Date
of Appointment |
25.05.2001 |
|
|
|
|
Name |
Mr. Witty
Bawa |
|
Designation
|
Director |
|
Address
: |
E-91,
Greater Kailash Part I, 2nd Floor, New Delhi-110048 |
|
Date
of Birth |
11.08.1961 |
|
Date
of Appointment |
21.05.2001 |
|
|
|
|
Name |
Ms. Meera
Malhan |
|
Designation
|
Director |
|
Address
: |
N-86, |
|
Date
of Birth |
11.02.1958 |
|
Date
of Appointment |
21.05.2001 |
|
|
|
|
Name |
Mr. Rajat
Malhan |
|
Designation
|
Director |
|
Address
: |
N-86, |
|
Date
of Birth |
25.01.1982 |
|
Date
of Appointment |
21.05.2001 |
|
|
|
|
Name |
Mr.
Jagdish Singh Bawa |
|
Designation
|
Director |
|
Address
: |
E-91, Greater
Kailash Part I, 2nd Floor, New Delhi-110048 |
|
Date
of Birth |
10.05.1928 |
|
Date
of Appointment |
05.11.2002 |
KEY EXECUTIVES
|
Name : |
Mr. Ravi Malhan |
|
Designation
: |
Managing Director |
|
Email
: |
MAJOR SHAREHOLDERS
|
Name of Shareholders |
No of Shares |
% of Shares |
|
Mr.
Lajinder Singh Bawa |
18,500 |
25.00 |
|
Mr. Witty
Bawa |
18,500 |
25.00 |
|
Ms. Meera
Malhan |
18,500 |
25.00 |
|
Mr. Rajat
Malhan |
18,500 |
25.00 |
|
Total |
74,000 |
100.00 |
All the shares are held by directors or their relatives.
BUSINESS DETAILS
|
Line
of Business : |
Importers and Traders in Road Survey Equipments. |
|
|
|
|
Imports
from : |
Europe and |
|
|
|
GENERAL INFORMATION
|
Suppliers
: |
|
|
|
|
|
Customers
: |
|
|
|
|
|
No. of
Employees : |
50 |
|
|
|
|
Bankers
: |
Karnataka
Bank Limited, Overseas Branch, K-Clock, Connaught Place, New Delhi-110001, |
|
|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors
: |
Kohli
Chitkara and Company Chartered
Accountants F-176,
Lajpat Nagar-I, New
Delhi-110024, |
|
Tel.
No.: |
91-11-29810505
/ 29810808 |
|
E-Mail
: |
|
|
|
|
|
Associates/Subsidiaries
: |
Nil |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 10/- |
Rs. 1.000 million |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
74000 |
Equity Shares |
Rs. 10/- |
Rs. 0.740 million |
FINANCIAL
DATA
[all
figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
SHAREHOLDERS FUNDS |
|
|
|
|
1] Share Capital |
0.740 |
0.740 |
0.740 |
|
2] Reserves & Surplus |
7.049 |
4.321 |
1.152 |
|
NETWORTH |
7.789 |
5.061 |
1.892 |
|
|
|
|
|
|
LOAN FUNDS |
|
|
|
|
1] Secured Loans |
14.869 |
12.843 |
4.314 |
|
2] Unsecured Loans |
0.812 |
3.820 |
2.802 |
|
TOTAL BORROWNG |
15.681 |
16.663 |
7.116 |
|
|
|
|
|
TOTAL
|
23.470 |
21.724 |
9.008 |
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
11.470 |
8.654 |
5.853 |
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
INVESTMENTS |
0.000 |
0.000 |
0.000 |
|
DEFERRED TAX ASSETS |
0.305 |
0.077 |
0.000 |
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
Inventories |
14.855 |
14.937 |
9.683 |
|
Sundry Debtors |
35.525 |
14.523 |
7.874 |
|
Cash & Bank Balances |
6.258 |
5.317 |
1.701 |
|
Loans & Advances |
8.932 |
8.340 |
2.626 |
|
Total Current Assets |
65.570 |
43.117 |
21.884 |
|
Less : |
|
|
|
|
Current Liabilities |
49.148 |
27.498 |
17.836 |
Provisions
|
4.727 |
2.635 |
0.909 |
Total Current Liabilities
|
53.875 |
30.133 |
18.745 |
|
Net Current Assets |
11.695 |
12.984 |
3.139 |
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.009 |
0.016 |
|
|
|
|
|
TOTAL
|
23.470 |
21.724 |
9.008 |
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
Sales Turnover |
|
91.701 |
53.261 |
|
[including other income] |
|
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
6.959 |
1.434 |
|
Provision for Taxation |
|
2.550 |
0.720 |
|
Profit/(Loss) After Tax |
|
4.409 |
0.714 |
|
|
|
|
|
Total Expenditures
|
|
84.742 |
51.827 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
PAT/Total Income (%) |
|
4.81 |
1.34 |
|
|
|
|
|
|
Net Profit Margin (%) (PBT/Sales) |
|
8.37 |
2.93 |
|
|
|
|
|
|
Return on Total Assets (%) (PBT/Total Assets) |
|
13.44 |
5.17 |
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.37 |
0.76 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Net Worth) |
|
9.25 |
13.67 |
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.43 |
1.17 |
LOCAL AGENCY FURTHER
INFORMATION
It imports
surveying equipments form Europe and Software Solutions for roads planning and
design from
Subject
imports following equipments form
- Reflectarless Robotic Total
Station
- Reflectorless Total Station
- Wireless One-Person Survey
System
- Plane Offset Program
- Fasts Trak System
- Optical Communication System
- Measure Level, Height Plumb and
Slop
- Electronic Digital Level
- Auto Level
- Tilting Level
- Rotating Laser
- Pipe Laser
- Faster Automatic Measurement
- Tilting Level Ts-E1/Tilting
Level Ts-3 Series
- Digital Theodolites Dt-200
Series
- Electronic Angle Measurement
Equipment
- Digital Theodotiles Dt-105
- Laser Theodolite Dt-110l
- Electronic Total Sation
- Pulse Total Station Gpt-7000
Series
- Pulse Total Station Gpt-3000
Series
- Pulse Total Station Gpt-3000ln
Series
- Auto Tracking Pulse Total
Station Gpt-8200a Series
- Atuo Tracking Total Station
Gts-820a Series
- Electronic Total Station
Gts-220 Series
- Electronic Total Station
Gts-720 Series
- Gps+ Cors Receiver/Intergrated
Gps+Receiver Gb-1000
- Intergrated Gps+ Receiver Hiper
- Hiper Ggd
- Hiper Pro
- Dgps Receiver
- Field Controller
- Civil
CAD 200, the perfect software solution for roads planning and design,
accompanies the engineer throughout the entire project- from topographic
analysis and alignment design to a fully developed road plan including
cross-sections, vertical alignment and a complete design layout.
Subject
import surveying equipments and software solutions for roads planning and
design.
It exports
its products and also sells locally through its Distributors.
Form 8 Particular for creation or
modification of charges
|
Corporation
identity number or foreign company registrations number of the company |
U51909DL2001PTC110993 |
|
Name of
the company |
BIL TRADING PRIVATE LIMITED |
|
Address |
N-86 |
|
This Form
is for |
Modification of charge |
|
Type of
Charges |
Book debts Movable property |
|
Particular
of the charge holder |
Karnataka Bank Limited Overseas Branch, No.2, K- New Delhi-110001 |
|
Nature or
description of the instrument creating charge |
Hypothecation agreement |
|
Date of
the instrument creating charge |
04.12.2006 |
|
Amount
Secure by the charge |
Rs.55.000 millions |
|
Brief of
the principal terms and conditions and extent and operation of the charge |
Rate of interest : Interest shall be charged on OD limit at PLR plus 0.25%
p.a. with a minimum of 12.75% with monthly rests and interest/ commission on
BG limit as per circular. Terms of Repayment : Repayment for OD payable on demand. BG as per Bank’s guarantee rules. Margin : Stock :25% Book debts considered goods less than 90 days 25% BG 25% cash margin Extent and operation of the charge The hypothecated assets to secure OD limit of Rs.35.000
millions and BG limit of Rs.20.000 millions aggregating limit of Rs.55.000
millions sanctioned by the bank to the company. |
|
Particulars
of the Property charged |
All stock of raw materials, stock in process, finished
goods and all other tangible, movable, properties whatsoever (both present
and future) stored at HS-4, 3rd F, Shopping Complex, Kailash Colony,
ND. All the book debts, outstanding moneys receivables, claims and bills, of
the company which are now due and owing or which may at any time hereinafter
become due and owing to the firm in due course of its business from any person,
firm, company or the government or any local or public body or authority. |
|
Particulars
of the present modification |
Extent of operation of the all stocks and book debts both
present and future of the company stnds enhanced from Rs.13.500 millions to
Rs.55.000 millions to secure SOD limit of Rs.35.000 millions and BG limit of
Rs.20.000 millions ROI and margin as per Col. No.12 above other terms and
conditions remain the same. |
|
Name
of the company |
BIL TRADING PRIVATE LIMITED |
|
Presented
By |
Chief Manager, Karnataka Bank Limited |
|
1) Date
and description of instrument creating the change |
Hypothecation agreement dated 24.12.2004. Bank guarantee letter dated 24.12.2004 |
|
2) Amount
secured by the charge/amount owing on the securities of charge |
Rs.13.500 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 |
Hypothecation of stock in trade and all book debts of the
company. |
|
4) Gist
of the terms and conditions and extent and operation of the charge. |
To grant overdraft limit of Rs.7.500 millions and bank
guarantee limit of Rs.6.000 millions. Rate f interest is 14%. Margin is 25%
on stock 40% book debts. Period upto 31.08.2004. repayable on demand. |
|
5) Name
and Address and description of the person entitled to the charge. |
Karnataka Bank Limited K Block, Conaught Place New Delhi-110001 |
|
6)
Date and brief description of
instrument modifying the charge |
Not Applicable |
|
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. |
Not Applicable |
CMT
REPORT [Corruption,
Money laundering & Terrorism]
The Public Notice information has been collected from various
sources including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED PARTY
No
exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering, anti-corruption
or bribery or international economic or anti-terrorism sanction laws or whose
assets were seized, blocked, frozen or ordered forfeited for violation of money
laundering or international anti-terrorism laws.
2] Court Declaration :
No 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. 40.44 |
|
|
1 |
Rs. 82.03 |
|
Euro |
1 |
Rs. 55.42 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP
CAPITAL |
1~10 |
3 |
|
OPERATING
SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT
LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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 |