MIRA
INFORM REPORT
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Report Date : |
24.08.2007 |
IDENTIFICATION DETAILS
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Name : |
ACTIVE PERSONAL CARE PRODUCTS PRIVATE LIMITED |
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Registered Office : |
117 / C 8 / 100, Sarvodaya Nagar, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
21.06.2005 |
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Com. Reg. No.: |
30198 |
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CIN No.: [Company
Identification No.] |
U24241UP2005PTC030198 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
KNPA01939A |
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PAN No.: [Permanent
Account No.] |
AAFCA3609P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Toilet Soaps, Shaving Soaps, Shampoos, Washing Soaps,
Detergents Powder / Cake / Liquid, Oil Based Soaps, Laundry Soaps, Glycerine
Soaps, Toiletry Preparations, Cosmetics And Allied And By-Products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 40000 |
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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 year old company and in the process of
establishing itself. The company has been successful in obtaining some loans from
its banker. Trade relations are fair. Payments are reported to be slow but
correct. The company can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
117 / C 8 / 100, Sarvodaya Nagar, |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Ram Chand |
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Designation : |
Director |
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Address : |
120 / 57, Lajpat Nagar, |
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Date of Appointment : |
21.06.2005 |
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Name : |
Mr. Vinesh Kumar |
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Designation : |
Director |
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Address : |
120 / 57, Lajpat Nagar, |
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Date of Appointment : |
21.06.2005 |
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Name : |
Mr. Pawan Kumar |
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Designation : |
Director |
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Address : |
120 / 57, Lajpat Nagar, |
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Date of Appointment : |
21.06.2005 |
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Name : |
Mr. Rajesh Kumar |
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Designation : |
Director |
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Address : |
120 / 57, Lajpat Nagar, |
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Date of Appointment : |
21.06.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Ram Chand |
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2500 |
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Mr. Vinesh Kumar |
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2500 |
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Mr. Pawan Kumar |
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2500 |
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Mr. Rajesh Kumar |
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2500 |
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Total |
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10000 |
Equity share breakup (percentage of total equity)
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S. No. |
Category |
Percentage |
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1 |
Bodies corporate (not mentioned above) |
80.00 |
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2 |
Directors or relatives of directors |
20.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Toilet Soaps, Shaving Soaps, Shampoos, Washing Soaps,
Detergents Powder / Cake / Liquid, Oil Based Soaps, Laundry Soaps, Glycerine
Soaps, Toiletry Preparations, Cosmetics And Allied And By-Products. |
GENERAL INFORMATION
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Bankers : |
Bank
of |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. A K Mehra Chartered Accountants |
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Address : |
120 / 128, Lajpat Nagar, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity shares |
Rs. 10/- each |
Rs. 10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity shares |
Rs. 10/- each |
Rs. 10.000 millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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10.000 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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10.000 |
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LOAN FUNDS |
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1] Secured Loans |
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8.279 |
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2] Unsecured Loans |
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1.332 |
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TOTAL BORROWING |
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9.611 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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19.611 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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19.433 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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1.565 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.000 |
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Total
Current Assets |
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1.565 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.205 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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2.205 |
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Net Current Assets |
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(0.640) |
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MISCELLANEOUS EXPENSES |
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0.818 |
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TOTAL |
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19.611 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.18 |
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Current Ratio (Current Asset/Current Liability) |
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0.70 |
LOCAL AGENCY FURTHER INFORMATION
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Name of the company |
ACTIVE
PERSONAL CARE PRODUCTS PRIVATE LIMITED |
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Presented
By |
MR.
RAJESH KUMAR ROHRA, DIRECTOR |
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1) Date and description of instrument creating the change |
Agreement for Hypothecation of Machinery dt. 05.10.2005 to secure Term Loan |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 21.800 millions |
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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 |
1) All the Plant and Machinery as Listed in the schedule, spares and parts thereof, and 2) Equitable mortgage of Factory, Land and Building situated at 51, 52, 53, 54, 55 sector – 3, Integrated Industrial Estate, Pant Nagar, District, U S Nagar, Uttaranchal |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest @ CB PLR subject to minimum of 10.5% with monthly rests. Repayments commencing from September, 2006. Other terms and conditions as per Bank’s sanction letter. |
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5) Name and Address and description of the person entitled to the charge. |
Bank
of SSI
Branch, Sarvodaya Nagar, |
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Corporation identity number or foreign company registrations number of the company |
U24241UP2005PTC030198 |
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Name of the company |
ACTIVE PERSONAL CARE PRODUCTS PRIVATE
LIMITED |
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Address |
117 / C 8 / 100, Sarvodaya Nagar, |
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This Form is for |
Modification of charge |
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Type of Charges |
Immovable property, Land, Building, Plant, Machinery, Residential House |
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Particular of the charge holder |
Bank
of |
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Nature or description of the instrument creating charge |
Hypothecation agreement and supplemental Memorandum of entry dated 18.11.2006 for modification of existing charge created on 05.10.2005 (registered on 31.10.2005) for a total limit of Rs. 56.800 millions (TL –Rs. 21.800 millions and C/C and FLC – Rs. 35.000 millions) and further modified on 19.06.2006 (registered on 06.07.2006) for creation of equitable mortgage. Now the limit is being increased from Rs. 56.800 millions to Rs. 61.800 millions (TL – Rs. 26.800 millions, C/C – 25.000 millions and FLC – Rs. 10.000 millions) |
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Date of the instrument creating charge |
18.11.2006 |
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Amount Secure by the charge |
Rs. 26.800 millions |
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Brief of the principal terms and conditions and extent and operation of the charge |
Rate of Interest: BPLR i. e. 11.5% p. a. present Term of Repayment: As per agreement Margin: 30% against cost of land 25% against cost of construction 25% against cost of plant and machinery Extent and operation of the charge D P Note, Letter of installment, hypothecation of stock, book debts plant and machinery as per the list attached plot no. o48 to 57, Sector – 3, Intergrated Industrial Estate, Pant Nagar, District, U S Nagar, Uttaranchal of company and factory, land and building at Arazi No. 232, Village Chaubeypur, Kalan, Kanpur Belonging to Rajesh, Property situated at Arazi No. 236, Chaubepur Kalan, District belonging toShiv Gramaudhyog Sanstha, Others Resindential
house no.120 / 57, lajpat nagar, The
above mentioned properties also secure the credit limit of Rs.64.000 million
(C/C – Rs. 40.000 millions Gold Card Rs. 4.000 million and FLC – Rs. 20.000
Millions) of Shiv Gramudhyog Sansthan having its office at 117 / C-8 / 100,
Sarvodaya nagar, The above mentioned properties and secure the credit the security |
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Particulars of the Property charged |
Stock,
book debts, plant and machinery , Plot no. 48 to 57, Sector 3, Integrated
industrial estate, pant Nagar, District U S Nagar, Uttaranchal of company,
Factory land and building at Arazi 232, Village Chaubeypur, Kalan Kanpur of Rajesh
Kumar Property situated as Arazi No. 236, Chaubepur Kalan, District Kanpur of
Shiv Gramoudhyog Sansthan, 117 / C-8/100, Sarvodhya Nagar, Kanpur of Ram
Chand Res. House No. 120 / 57, Lajpat Nagar, Kanpur of Bharti Devi and house
No. G – 89, Naraina, |
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Particulars of present modification |
Charge created on 05.10.2005 (registered on 31.10.2005) for a total limit of Rs. 58.800 million (TL –Rs 21.800 millions and C/C and FLC – Rs. 35.000 millions) and further modified on 19.06.2006 (registered on 06.07.2006) for Creation of equitable mortgage is being increased from Rs. 56.800 millions to Rs. 61.800 millions (TL Rs. 26.800 millions, C/C – Rs. 25.000 millions and FLC – Rs. 10.000 millions) |
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.41.18 |
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1 |
Rs.82.41 |
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Euro |
1 |
Rs.55.85 |
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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--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. |
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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