MIRA
INFORM REPORT
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Report Date : |
06.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
MADURA STONES PRIVATE LIMITED |
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Registered Office : |
14 Roop Chand Roy, Kolkata 700007, West Bengal |
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Country : |
India |
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Date of Incorporation : |
06.06.2006 |
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Com. Reg. No.: |
109791 |
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CIN No.: [Company
Identification No.] |
U70101WB2006PTC109791 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Granite Products, sanitary
fittings and other building materials |
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 : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new Company and yet to establish itself. Its first financials are awaited. The Company has been successful in
obtaining good amount of loan from its bankers. No further details or payment could be made available. The Company can be considered for small to mediocre business dealings
of safe and secured terms, initially. |
LOCATIONS
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Registered Office : |
14 Roop Chand Roy, Kolkata 700007, West Bengal |
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E-Mail : |
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Factory : |
216 Anna Nagar, Madurai, Tamilnadu, India |
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Tel. No.: |
91-452-2534406 |
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Fax No.: |
91-452-2532562 |
DIRECTORS
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Name : |
Mr. Mahavir Prasad Jain |
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Designation : |
Director |
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Address : |
2256A, Gomathi Puram, 7th main, Seeman Avenue, Madurai
625020, Tamilnadu, India |
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Date of Birth/Age : |
19.07.1947 |
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Date of Appointment : |
01.11.2006 |
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Name : |
Mr. Manish Kumar Jain |
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Designation : |
Director |
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Address : |
2256B, Gomathipuram, 7th main Seeman Avenue Ward, Melamada,
Madurai 625020, Tamilnadu, India |
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Date of Birth/Age : |
15.12.1980 |
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Date of Appointment : |
06.06.2006 |
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Name : |
Mr. Ashok Kumar Jain |
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Designation : |
Director |
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Address : |
214, Rabindra Sarani, 1st floor, Kolkata 700007, West
Bengal, India |
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Date of Birth/Age : |
05.01.1958 |
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Date of Appointment : |
06.06.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Ashok Kumar Jain |
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100 |
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Manish Kumar Jain |
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5000 |
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Sanjay Kumar Jain |
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5000 |
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Total |
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10100 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Granite Products, sanitary
fittings and other building materials |
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Product : |
Ř Granite Slabs Ř Granite Tiles Ř Granite
Monuments |
GENERAL
INFORMATION
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Bankers : |
State Bank of
India Madurai City Branch,
Madurai 625009, Tamilnadu, India |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10100 |
Equity Shares |
Rs. 10/- each |
Rs. 0.101 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
NEW COMPANY
LOCAL AGENCY
FURTHER INFORMATION
Form 8
Bankers Charges
Report as per Registry
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This Form is for |
Creation of charge |
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Charge
identification number of the charge to be modified |
NA |
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Corporate
identity number of the company |
U70101WB2006PTC109791 |
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Name of the
company |
MADURA STONES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
14 Roop Chand Roy, Kolkata, West Bengal 700007, India |
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Type of charge |
Immovable
property Movable property |
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Particular of
charge holder |
State Bank of
India Madurai City
Branch, Madurai 625009, Tamilnadu, India |
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Nature of
description of the instrument creating or modifying the charge |
Agreement of loan
cum hypothecation Confirmation of
deposit of title deeds |
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Date of
instrument Creating the charge |
31.03.2007 |
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Amount secured by
the charge |
Rs. 69.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
[a] Rate of
Interest EPC 2.75% Below
SBAR – Minimum of 8.75% [for period upto 180 days] 1.50% below SBAR
minimum of 10% [for a period beyond 180 days upto 270 days] Term Loan : 1.25%
below SBAR – minimum of 10.25% [the present effective rate] [b] Terms of
repayment Repayable in 28 quarterly
installments commencing from the quarter beginning January 2008 and ending in
December 2004. [c] Margin Raw materials
stock in process, finished goods Term Loan
[machinery 25% building 40%] One time Import
LC (CG) 25% [d] Extent and
operation of the charge EM over 1] Land
at R. S. 135/1F, 1F2 at Madurai Melur Rod of 78cents and building to the
extent of 3928 sq. fts. 2] Land at R. S.
No. 21/5 [part] Anna Nagar east cross St. land of 12.41 cents and building of
4667sq. fts. 3] Land at SF No.
50/4, 51/1 land of 4.76 acres at Parayankulam Village 4] Factory land
at R. S. No. 118/2, Sivagangi Road, Varichiyur Village, Madurai measuring 91
cents and building to the extent of 8712 sq. fts. 5] Land at R.S
118/2B Sivagangai Road, Varichiyur Village of 51 cents and BLDGS 10782 Sq.
fts. |
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Short particulars
of the property charged |
1] Land at R. S.
135/1F, 1F2 at Madurai Melur Rod of 78cents and building to the extent of
3928 sq. fts. 2] Land at R. S.
No. 21/5 [part] Anna Nagar east cross St. land of 12.41 cents and building of
4667sq. fts. 3] Land at SF No.
50/4, 51/1 land of 4.76 acres at Parayankulam Village 4] Factory land
at R. S. No. 118/2, Sivagangi Road, Varichiyur Village, Madurai measuring 91
cents and building to the extent of 8712 sq. fts. 5] Land at R.S
118/2B Sivagangai Road, Varichiyur Village of 51 cents and BLDGS 10782 Sq.
fts. |
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Date of latest
modification prior to the present modification |
NA |
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Particulars of
the present 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 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. 39.45 |
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UK Pound |
1 |
Rs. 81.12 |
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Euro |
1 |
Rs. 58.20 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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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 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
1 |
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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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13 |
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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