MIRA
INFORM REPORT
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Report Date : |
03.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
LOGISYS INDIA PRIVATE LIMITED |
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Registered Office : |
East India House, 20 - B, Abdul Hamid Street, (4th
Floor), Kolkata - 700 069, West Bengal |
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Country : |
India |
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Date of Incorporation : |
19.06.2002 |
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Com. Reg. No.: |
21-94773 |
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CIN No.: [Company
Identification No.] |
U63011WB2002PTC094773 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALL01110E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Providing Logistic Solutions. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject appears to be a medium sized company in it’s field having
substantial capital base. Trade relations are fair. Payment records are
unknown. Initially, it would be advisable to deal with the company on merits at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
East India House, 20 - B, Abdul Hamid Street, (4th
Floor), Kolkata - 700 069, West Bengal, INDIA |
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Tel. No.: |
91-33-2483203
/ 08 / 2487639 / 2488036 / 2488037 |
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Mobile No.: |
91-9899555661 |
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Fax No.: |
91-33-2483195
/ 2104761 |
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E-Mail : |
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Website : |
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Head Office : |
1st Floor, 95 Post
Office Building, Subzi Mandi, New Delhi – 110007, India |
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Tel. No.: |
91-11-26371001 |
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Corporate Office : |
D - 38,
Okhla Industrial Area Phase – I, New Delhi - 110 020, India |
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Tel. No.: |
91-11-26371001
/ 26371002 / 26819665 / 26812578 |
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Fax No.: |
91 - 11 –
26819270 / 26819271 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Bachhraj Choraria |
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Designation : |
Director |
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Address : |
14/1, 14/7, Makenjee Lane, Sadar, Howrah – 711101, West Bengal, India |
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Date of Birth/Age : |
04.09.1938 |
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Date of Appointment : |
13.10.2006 |
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Other Directorship : |
Abhinand Investments Limited CIN No.: U99999WB1981PTC033386 Abhiyan Holdings Private Limited CIN No.: U67120WB1985PTC038509 Abhiyan Transport and Trades Private Limited CIN No.: U51109WB1986PTC040009 Goodyear Exim Private Limited CIN No.: U99999WB1993PTC058250 Anjuman Exim India Private Limited CIN No.: U51109WB1989PTC046668 Samyak Vanijya Private Limited CIN No.: U51909WB1994PTC064459 Lakshmi Exim Private Limited CIN No.: U74950WB1992PTC056183 EICM Exports Limited CIN No.: U51311WB1989PLC047611 |
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Name : |
Mr. Bal Govind Lohia |
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Designation : |
Director |
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Address : |
17/1 B, Pankaj Mullick, Sarani, Ritchi Road, Kolkata – 700019, West
Bengal, India |
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Date of Birth/Age : |
24.07.1930 |
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Date of Appointment : |
19.06.2002 |
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PAN No.: |
ABEPL6924D |
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Name : |
Mr. Arvind Kumar Lohia |
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Designation : |
Director |
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Address : |
17/1 B, Pankaj Mullick, Sarani, Ritchi Road, Kolkata – 700019, West Bengal,
India |
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Date of Birth/Age : |
11.01.1954 |
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Date of Appointment : |
19.06.2002 |
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PAN No.: |
AAZPL8210C |
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Name : |
Mr. Kailash Behari Goel |
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Designation : |
Director |
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Address : |
764, Block – P, New Alipore, Kolkata – 700053, West Bengal, India |
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Date of Birth/Age : |
23.11.1967 |
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Date of Appointment : |
19.06.2002 |
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PAN No.: |
ADTPG3732G |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Lohia Govind Bal |
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85000 |
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Lohia Kala Chandra |
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35000 |
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Abhiyan Transport and Trades Private Limited |
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55000 |
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Pittie Madhulika |
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25000 |
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Deepa Bagla |
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25000 |
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Ankit Commotrade Private limited |
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35000 |
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Garodia Securities Limited |
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192500 |
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Marudhar Vyapaar Private Limited |
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30000 |
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SKP Leasing Limited |
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27500 |
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Compact Finstock Private Limited |
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50000 |
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EOCM Exports Limited |
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150000 |
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Saraswati Finance Private Limited |
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12500 |
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Mirania Mercantiles Private Limited |
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25000 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Bodies corporate |
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81.87 |
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Directors or relatives of directors |
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15.20 |
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Other top fifty shareholders |
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2.93 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing Logistic Solutions. |
GENERAL
INFORMATION
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Abhinand Investments Limited CIN No.: U99999WB1981PTC033386 Abhiyan Holdings Private Limited CIN No.: U67120WB1985PTC038509 Abhiyan Transport and Trades Private Limited CIN No.: U51109WB1986PTC040009 Goodyear Exim Private Limited CIN No.: U99999WB1993PTC058250 Anjuman Exim India Private Limited CIN No.: U51109WB1989PTC046668 Samyak Vanijya Private Limited CIN No.: U51909WB1994PTC064459 Lakshmi Exim Private Limited CIN No.: U74950WB1992PTC056183 EICM Exports Limited CIN No.: U51311WB1989PLC047611 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1,000,000 |
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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937,500 |
Equity Shares |
Rs. 10/- each |
Rs. 9.375
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
No financial details could be available for the company since
incorporation of the company.
Management of the company remained non-cooperative during current
investigation.
LOCAL AGENCY FURTHER
INFORMATION
BANKERS CHARGES
REPORT AS PER REGISTRY
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Name of the company |
LOGISYS INDIA
PRIVATE LIMITED |
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Presented By |
Axis Bank
Limited, Kolkata Main Branch, 7, Shakespeare Sarani, Kolkata – 700071 |
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1) Date and description of instrument creating the change |
Agreement for
Hypothecation of Current Assets Dated 15.05.2004 for Rs. 47.500 Millions Deed of
Hypothecation of Book debts dated 15.05.2004 for Rs. 47.500 Millions The above
agreements executed by Logisys India Limited, 20/B, Abdul Hamid Street, 4th
Floor, Kolkata – 700069 in favour of Axis Bank Limited, Kolkata Main Branch, 7,
Shakespeare Sarani, Kolkata – 700071 Rs. 47.500 Millions. Principal amount of Rs. 47.500 Millions plus
interest and commission thereon and all legal and other costs, charges
payments. Reimbursements and expenses relating thereto and incidental to this
security or for enforcement thereof. |
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2) Amount secured by the charge/amount owing on the securities of charge |
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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 |
Primary
Security The credit
facilities granted by the Bank will be primarily secured by exclusive first
charge on the current assets of the company both present and future by way of
hypothecation interalia, of the following : All the stock in
trade including raw material, stock in process, cash and other current assets
whatsoever being movable properties now or at any time hereafter belonging to
the Borrower and now or at any time and from time to time here after stored
or be stored or brought into or upon or in course of transit to borrower’s
factory, premises or at any other place whatsoever and wheresoever in
borrower’s occupation or any where else and Hypothecation of all
outstanding monies receivable, claims and bills which are now due and owing
or which may at any time hereafter during the continuance of this security
become due and owing to the borrower in the course of its business by any
person, firm company or body corporate or by the government department body
or authority or any body corporate or undertaking or project whatever in the
public sector and all the book debts present and future of the borrower. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest and
other terms Fund Based Limits
Interest On Cash Credit At 11.50 % p.a.
with monthly rests Margin For Fund based
limits [Cash Credit] Uniform margin of
25 % on Inventory and 25 % on Book debts [Upto 120 days] For Non-Fund
Based Limits – Bank Guarantee Margin – Nil Commission : As
stipulated by the Bank |
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5) Name and Address and description of the person entitled to the charge. |
Axis Bank Limited
a Banking company incorporated under the companies Act 1956 and carrying on
the Banking business under the Banking Regulations Act. 1949 and having its
registered Office at ‘Trishul’, 3rd Floor, Opposite Samarpheshwar
Temple, Law Gardens, Ellis Bridge, Ahmedabad – 380006 and Branch Office at, 7, Shakespeare
Sarani, Kolkata – 700071; which term unless the context otherwise requires
includes its successors and assigns from time to time. |
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6) Date and brief description of instrument modifying the charge |
27.09.2004. No
instrument was executed, a mortgage by deposit of title deed was executed on
Premises No 38 on the 5th Floor of the Mehta Chambers, Kalyan
Chambers Premises Cooperative Society Limited, situated at plot 127 A,
Elphistone Estate, Kalyan Street, Masjid Bunder, Mumbai – 400009 in favour of
Axis Bank Limited, to secure the due repayment of principal, interest,
additional interest and other charges for the cash and bank guarantee limit
of Rs. 47.500 Millions in aggregate.
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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. |
Cash Credit Limit
of Rs. 42.500 Millions and bank guarantee limit of Rs. 5.000 Millions
together with interest additional interest, charges and other expenses
payable by the company to the lenders in terms of the deed of Hypothecation
executed on 15.05.2004, being the original charges on the flat a Premises No.
38 on 5th Floor at Mehta Chambers, Kalyan Street, Masjid Bunder,
Mumbai – 9 created by the company in favour of the lenders. |
AS PER WEBSITE
The
Flagship Organisation of our group, East India
Transport Agency was established in
the year 1955 for transportation
of goods in Eastern India.
Due to its proven commitment
to quality and excellence in service, it
has grown into one of the largest
all India Logistic Service Providers of the
Country. With its Network of nearly 400
branches and a large fleet of
own and attached vehicles, it has as its customers, most of the
Blue-chips Companies of the Country. In order to cater to the Logistics
needs of International trade of its customers, the group also started providing
custom clearance and forwarding services through IFFL, a multi modal transport
operator and a CHA license holder. Subsequently it also took over AW Travels
and Logistics Services Limited, an IATA approved international cargo handler for
handling of Air Cargo of its customers.
Subject has been
floated as a result of the vision of
providing complete Logistics solutions from a
single source to enable its customers to focus on their primary activity
by outsourcing our expertise in Logistics.
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 records 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.39.56 |
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UK Pound |
1 |
Rs.81.39 |
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Euro |
1 |
Rs.58.04 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
- |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
6 |
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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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25 |
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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