MIRA INFORM REPORT

 

 

Report Date :

14.12.2007

 

IDENTIFICATION DETAILS

 

Name :

BAHN TECHNOLOGY PRIVATE LIMITED

 

 

Registered Office :

3A, Mangoe Lane, 2nd Floor, Kolkata – 700001, West Bengal

 

 

Country :

India

 

 

Date of Incorporation :

14.01.2005

 

 

Com. Reg. No.:

101138

 

 

CIN No.:

[Company Identification No.]

U29299WB2005PTC101138

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CALB07323B

 

 

PAN No.:

[Permanent Account No.]

AACCB5435B

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Wholesaler of Hydraulic Pumps and Motors

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is a 2 years old company, but is yet to file its first financials with the Government Registry. The company has been successful in obtaining several loans from its banker. No further details could be made available.

 

The company can be considered for any business dealings on fully safe and secured trade terms and conditions, only.   

 

LOCATIONS

 

Registered Office :

3A, Mangoe Lane, 2nd Floor, Kolkata – 700001, West Bengal, India

Tel. No.:

91-33-22137482 / 22137495

Mobile No.:

91-9871367865

Fax No.:

91-33-22137512

E-Mail :

bahntech@vsnl.net

 

DIRECTORS

 

Name :

Mr. Rajesh Agarwal

Designation :

Director

Address :

Flat – UD020805, Udita Housing Complex, 1050/1 Survey Park, Kolkata – 700075, West Bengal, India

Date of Birth/Age :

11.05.1960

Date of Appointment :

15.06.2005

 

 

Name :

Mrs. Susmita Varma

Designation :

Director

Address :

66B, Dr. G. S. Bose Road, Flat 2 D, Prantik Apartment, Kolkata – 700039, West Bengal, India

Date of Birth/Age :

21.10.1972

Date of Appointment :

14.01.2005

 

 

Name :

Mr. Zahid Reza

Designation :

Director

Address :

25/B, Dent Mission Road, Kolkata – 700023, West Bengal, India

Date of Birth/Age :

10.03.1975

Date of Appointment :

14.01.2005

 

 

Name :

Mrs. Samragni Shah

Designation :

Director

Address :

C/o Chhanda Sengupta, A / 94, Beghajatin, Ground Floor, Kolkata - 700092

Date of Appointment :

14.01.2005

 

MAJOR SHAREHOLDERS

 

Names of Shareholders

 

No. of Shares

Susmita Varma

 

8000

Zahid Reza

 

1000

Samragni Shah

 

1000

Total

 

10000

 

BUSINESS DETAILS

 

Line of Business :

Wholesaler of Hydraulic Pumps and Motors

 

 

Brand Names :

Rexroth, Fessel, Rx and Sufal

 

GENERAL INFORMATION

 

Bankers :
  • Bank of Baroda, Camac Street Branch, 3B, Camac Street Branch, Kolkata - 700016, West Bengal, India 
  • Syndicate Bank, Alipore Branch, 8 B, Alipore Road, Kolkata – 700027, West Bengal, India 

 

 

 

Banking Relations :

Satisfactory

 

 

Associates/Subsidiaries :

Nil

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

500000

Equity Shares

Rs. 10/- each

Rs. 5.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

500000

Equity Shares

Rs. 10/- each

Rs. 5.000 Millions

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

New Company

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Bankers Charges Report as per Registry

 

 

Name of the company

BAHN TECHNOLOGY PRIVATE LIMITED

Presented By

Syndicate Bank

1) Date and description of instrument creating the change

Composite Hypothecation Agreement dated 22.07.2005 

2) Amount secured by the charge/amount owing on the securities of charge

Rs. 0.400 Million

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 by way of first charge :

 

All the Company’s goods, stocks, raw materials, finished goods, unfinished goods, movable property of any kind, plant, machinery, fixtures, implements, fittings and other installations, furniture, vehicles both present and future stored / lying / installed at the Company’s premises / godowns / factory at 3 A, Mangoe Lane, Kolkata – 1 or wherever else the same may be or in course of transit.

 

All the Company’s present and future book debts, outstanding monies, receivables, claims, bills, contracts, securities, investments, goodwill, rights and assets etc.   

4) Gist of the terms and conditions and extent and operation of the charge.

Interest / commission as may be fixed by the Bank from time to time. 

5) Name and Address and description of the person entitled to the charge.

Syndicate Bank

Alipore Branch

8 B, Alipore Road,

Kolkata – 700 027

6) Date  and brief description of instrument modifying the charge

NA

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.

NA

 

 

This form is for

Creation of charge

Corporate identity number of the company

U29299WB2005PTC101138

Name of the company

BAHN TECHNOLOGY PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

3A, Mangoe Lane, 2nd Floor, Kolkata – 700001, West Bengal, India

Type of charge
  1. Book Debts
  2. Movable Property

Particular of charge holder

Bank of Baroda, Camac Street Branch, 3B, Camac Street Branch, Kolkata - 700016, West Bengal, India 

camacs@bankofbaroda.com

Nature of description of the instrument creating or modifying the charge

  • Instrument of hypothecation of goods
  • Hypothecation of book debts

Date of instrument Creating the charge

08.09.2006

Amount secured by the charge

Rs. 3.500 Millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest

  • Borrower shall pay interest commission / exchange as term the terms of Sanction Letter, however the same is subject to change from time to time.
  • Banks entitled charge additional / penal interest in the event of Borrower committing breach of covenants undertaken under the agreements

  

Terms of repayment

  • On Demand

 

Margin

  • The borrow shall maintain margin or security at the rate specified in the agreement and Sanction letter

 

Extent operation of the charge

  • The charge will be a continuing security as and by way of first charge
  • Bank entitled to enforce the security in the event of failure on the part of the borrower to observe and in the agreement

 

Others

  • The company hereby declares that all the charged assets now existing are absolute property of and at the slow disposal of the company and free from any prior charge or encumbrance and undertakes that all future property shall like wise by the unencumbered and absolute and disposable property of the company
  • Covenants to ensure and keep insured the hypothecated and charged assets with an agreed Bank clause
  • Other usual covenants and conditions.

Short particulars of the property charged

The borrower hereby hypothecates and charges by way of first in favour of bank a] all stocks of RM, semi finished and finished products and stores and spares such as stocks of Hydraulic Pumps, motors, spares, valves, galvanized adopter and other all types of mechanical instruments and spares etc. both present and future now being and lying in the borrower’s premises at 3 A, Mangoe lane Kolkata – 700001 or any where else b] all the present and future book debts.  

 

 

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 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.39.37

UK Pound

1

Rs.79.47

Euro

1

Rs.56.83

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

-

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

2

--PROFITABILIRY

1~10

-

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

1

--CREDIT LINES

1~10

1

--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

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

12

 

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

 

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.

 

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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions