MIRA
INFORM REPORT
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Report Date : |
04.08.2007 |
IDENTIFICATION DETAILS
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Name : |
DRD BODY TECHS INDIA PRIVATE LIMITED |
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Registered Office : |
Plot No.91 / B, Phase I, IDA Jeedimetla, Andhra Pradesh |
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Country : |
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Date of Incorporation : |
12.12.2005 |
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Com. Reg. No.: |
48402 |
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CIN No.: [Company
Identification No.] |
U34201AP2005PTC048402 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
To carry on the business of General Engineering, Manufacturers,
Fabricators, Body Builders, Body Technology, Repairs of all types of
Automobiles and other Conveyances of all descriptions whether propelled or
assets by means of petrol, diesel, spirit, stream, gas, electricity, atomic,
or other powers and of engines, chassis, bodies, raw materials, semi –
finished, products, goods, articles and other things used for in or in
connection with the above mentioned things, including that of erection,
installation and workshop engineers at all places within and outside India. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
--- |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is just a 2 years old company and in the process of
establishing itself. Trade relations are reported as fair. Company has been successful
in obtaining some loans from its bankers, Payments are reported as slow but
correct. The company can be considered normal for small business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Plot No.91 / B, Phase I, IDA Jeedimetla, Andhra Pradesh |
DIRECTORS
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Name : |
Mr.Gollu Rama Devi |
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Designation : |
Director |
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Address : |
Flat No. 103, S.S. Sai Prabha Pride, Madhura Nagar, |
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Date of Birth/Age : |
09.09.1960 |
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Date of Appointment : |
12.12.2005 |
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Name : |
Mr.Ranga Rao |
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Designation : |
Director |
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Address : |
Plot No. 89/A, Phase – I IDA Jeedimetla, |
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Date of Birth/Age : |
15.08.1954 |
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Date of Appointment : |
12.12.2005 |
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Name : |
Mr.Gowri Shankar |
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Designation : |
Director |
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Address : |
Flat No. 103, S.S. Sai Prabha Pride, Madhura Nagar, |
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Date of Birth/Age : |
11.02.1975 |
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Date of Appointment : |
12.12.2005 |
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Name : |
Mr.Gollu Babu Rao |
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Designation : |
Director |
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Address : |
Plot No. 89/A, Phase – I IDA Jeedimetla, |
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Date of Birth/Age : |
10.07.1960 |
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Date of Appointment : |
12.12.2005 |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Gollu Ranga Rao |
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10,000 |
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Gollu Rama Devi |
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25500 |
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Gollu Gowri Shankar |
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10,000 |
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Gollu Baba Rao |
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4500 |
BUSINESS DETAILS
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Line of Business : |
To carry on the business of General Engineering, Manufacturers,
Fabricators, Body Builders, Body Technology, Repairs of all types of
Automobiles and other Conveyances of all descriptions whether propelled or
assets by means of petrol, diesel, spirit, stream, gas, electricity, atomic,
or other powers and of engines, chassis, bodies, raw materials, semi –
finished, products, goods, articles and other things used for in or in
connection with the above mentioned things, including that of erection,
installation and workshop engineers at all places within and outside India. |
GENERAL INFORMATION
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Bankers : |
Bank of Ameerper Branch, Ameerpet, Andhra Pradesh – 500 016 Email
:gowrishankar@durgasgroup.co.in |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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650000 |
Equity Shares |
Rs.10/- each |
Rs.6.500 millions |
Paid – up Capital:
Not Available
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Available
LOCAL AGENCY FURTHER INFORMATION
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Corporation identity number or foreign company registrations number of
the company |
U34201AP2005PTC048402 |
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Name of the company |
DRD BODY TECHS ( |
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Address |
Plot No.91/ B, Phase I,IDA Jeedimetla, |
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This Form is for |
Modification of charges |
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Type of Charges |
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Particular of the charge holder
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Bank Of Ameerper Branch, Ameerpet, Email
ID :
gowrishankar@durgasgroup.co.in |
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Nature or description of the instrument creating charge |
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Date of the instrument creating charge |
02.11.2006 |
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Amount Secure by the charge |
Rs.2.500 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate
of Interest: Interest Payable is 1% over BPLR minimum
12.50 % per annum with monthly rests or at such rates as may be notified to
the company by the bank from time to time. Terms
of repayment: Repayment on Demand Margin: 25% on stocks Extent
and operation of the charge : All Tangible movable assets of the company including in particular all stocks
of Raw Materials such as HR coils, M S Angles, Channels, Pipes, stocks
in Process, Finished Goods, Movable machinery, Stores, Spares parts,
Furniture, etc., Wheresoever situated and / or in transit. |
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Particulars of the Present modification |
LC Limit of Rupees of Twenty Five Lakhs
sanctioned to company in place of inland bills purchase limit of Rupees
Twenty Five Lakhs. |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.36 |
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1 |
Rs.82.18 |
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Euro |
1 |
Rs.55.31 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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NO |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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 EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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