MIRA INFORM REPORT

 

 

Report Date :

15.12.2007

 

IDENTIFICATION DETAILS

 

Name :

FINE TURN AUTO (PRIVATE) LIMITED

 

 

Registered Office :

B -8, 1st Floor, Kailash Colony, New Delhi – 110 048

 

 

Country :

India

 

 

Date of Incorporation :

18.05.2007

 

 

Com. Reg. No.:

55-163614

 

 

CIN No.:

[Company Identification No.]

U34300DL2007PTC163614

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

RTKF00445E

 

 

PAN No.:

[Permanent Account No.]

AABCF0888R

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of all kind of tools including machine tools, fitter tools, blacksmiths tools, brick layer tools, carpenter tools, painter tools, watchmaker tools, etc.

 

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 new company and yet to establish itself. The company has been successful in obtaining good amount of facilities from its banker. No further details or payment could be made available.

 

The company can be considered for any business dealings on safe and secured terms, initially.

 

LOCATIONS

 

Registered Office :

B -8, 1st Floor, Kailash Colony, New Delhi – 110 048, India

E-Mail :

shyam@forgewell.com

 

 

Factory 1 :

Plot No. 27, Sector 25, Faridabad – 121 001, Haryana, India

Tel. No.:

91-129-4150601

Fax No.:

91-129-4150602

 

DIRECTORS

 

Name :

Mr. Ankit Gupta

Designation :

Director

Address :

H.No. 173, II Floor, Sukhdev Vihar, New Delhi – 110 025, India

Date of Birth/Age :

27.03.1983

 

 

Name :

Mr. Sujay Nandi

Designation :

Director

Address :

B -8, 1st Floor, Kailash Colony, New Delhi – 110 048, India

Date of Birth/Age :

20.12.1982

 

 

Name :

Mr. Shyam Khandewal

Designation :

Director

Address :

4751/23, Ansari Road, Daryaganj, New Delhi – 110 002, India

Date of Birth/Age :

12.10.1975

 

 

Name :

Mr. Ranchit Gupta

Designation :

Director

Address :

H.No. 173, II Floor, Sukhdev Vihar, New Delhi – 110 025, India

Date of Birth/Age :

30.12.1981

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 28.04.2007:

 

Names of Shareholders

 

No. of Shares

Mr. Sujay Nanda

 

5000

Mr. Rachit Gupta

 

2500

Mr. Ankit Gupta

 

2500

Mr. Shyam Khandelwal

 

5000

 

Total

15000

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of all kind of tools including machine tools, fitter tools, blacksmiths tools, brick layer tools, carpenter tools, painter tools, watchmaker tools, etc.

 

GENERAL INFORMATION

 

Bankers :

Syndicate Bank

Address: Arunachal Building, Barakhamba Road, New Delhi – 110 027, India

 

 

Banking Relations :

----

 

 

Associates/Subsidiaries :

Nil

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

50000

Equity shares

Rs,.10/- each

Rs. 0.500 million

 

Issued, Subscribed & Paid-up Capital : 

No. of Shares

Type

Value

Amount

15000

Equity shares

Rs. 10/- each

Rs. 0.150 million

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

New Company

 

LOCAL AGENCY FURTHER INFORMATION

 

Corporation identity number or foreign company registrations number of the company 

U34300DL2007PTC163614

Name of the company

FINE TURN AUTO (PRIVATE) LIMITED

Address

B -8, 1st Floor, Kailash Colony, New Delhi – 110 048, India

This Form is for

Creation of charge

Type of Charges

A charge on Movable property (not being Pledge)

Particular of the charge holder 

Syndicate Bank

Address: Arunachal Building, Barakhamba Road, New Delhi, Delhi – 110 027, India

Email Id: rodel@syndicate.net

Nature or description of the instrument creating charge  

Composite hypothecation agreement form No. ASD -4

Date of the instrument creating charge

31.05.2007

Amount Secure by the charge

Rs. 2.437 millions

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

Rate of interest:

ROI PLR + 1.5% i.e 14.5% p.a

 

Terms of repayment:

EMI of Rs. 0.061 millions for 60 months including 6 months holiday period. Interest debited during the holiday period of 6 months to be recovered every month.

 

Margin:

Margin @ 30%

 

Extent and Operation of the Charge:

The above is to secure Term Loan (Machinery) of Rs. 2.437 millions. The borrower hypothecation Machinery installed / to be installed at factory premises at plot No. 131, Sector 25, Ballabgarh, 121 004, Haryana valued Rs. 3.367 millions.

Short particulars of the Property charged  

The above is to secure Term Loan (Machinery) of Rs. 2.437 millions. The borrower hypothecation Machinery installed / to be installed at factory premises at plot No. 131, Sector 25, Ballabgarh, 121 004, Haryana valued Rs. 3.367 millions.

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.39.55

UK Pound

1

Rs.79.62

Euro

1

Rs.57.02

 

 

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

2

--CREDIT LINES

1~10

2

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

14

 

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/normal.

 

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