MIRA
INFORM REPORT
|
Report Date : |
18.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
SALASAR TECHNO ENGINEERING PRIVATE LIMITED |
|
|
|
|
Formerly Known As : |
SALASAR PETROCHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
B-5, 1st Floor, Ganpati Enclave, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
24.10.2001 |
|
|
|
|
Com. Reg. No.: |
17-17253 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U23201RJ2001PTC017253 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MRTS04572B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAICS6856K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Marketing and Laisoning Services |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 49000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed company having satisfactory
track records. Directors are reported as experienced and respectable
businessmen. Trade relations are reported as fair. Business is active.
Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
B-5, 1st Floor, Ganpati Enclave, |
|
E-Mail : |
|
|
|
|
|
Head Office : |
G-276, RICCO Industrial Area, Bhiwari, Alwar-301010, |
|
|
|
|
Corporate Office : |
KL-46, Kavi Nagar, Ghaziabad-201002, |
|
Tel. No.: |
91-120-6546670 |
|
Fax No.: |
91-120-4110439 |
DIRECTORS
|
Name : |
Mr. Shyam A Gupta |
|
Designation : |
Director |
|
Address : |
14/9, Shakti Nagar, Delhi-110007 |
|
Date of Birth/Age : |
09.04.1965 |
|
Date of Appointment : |
24.01.2001 |
|
|
|
|
Name : |
Mr. Ashok Aggarwal |
|
Designation : |
Director |
|
Address : |
B-1/13, Phase II, Ashok Vihar, Delhi-110052 |
|
Date of Birth/Age : |
18.02.1957 |
|
Date of Appointment : |
24.10.2001 |
|
Date of Ceasing : |
19.01.2005 |
|
|
|
|
Name : |
Mr. Sanjeev Tekriwal |
|
Designation : |
Director |
|
Address : |
B-165, Lok Vihar, Pitam Pura, New Delhi-110034 |
|
Date of Birth/Age : |
27.09.1968 |
|
Date of Appointment : |
19.01.2005 |
|
|
|
|
Name : |
Mr. Alok Kumar |
|
Designation : |
Director |
|
Address : |
KL-46, Kavi Nagar, Ghaziabad-201001, Uttar Pradesh |
|
Date of Birth/Age : |
16.06.1955 |
|
Date of Appointment : |
03.05.2006 |
|
Other Directorships : |
Shikhar Fabtech Private Limited |
|
|
|
|
Name : |
Mr. Gyanendra Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
06.06.1945 |
|
Date of Appointment : |
03.05.2006 |
KEY EXECUTIVES
|
Name : |
Mr. P N Gupta |
|
Designation : |
Company Secretary |
|
Tel No.: |
91-11-26427221 |
|
Mobile No.: |
91-9811354910 |
|
E-Mail: |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
|
Mr. Shyam A Gupta |
5000 |
|
Mr. Ashok Aggarwal |
5000 |
|
Category |
|
Percentage of
Holding |
|
Bodies Corporate |
|
50.00 |
|
Directors or their relatives |
|
50.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Marketing and Laisoning Services |
GENERAL INFORMATION
|
Bankers : |
Canara Bank SSI Branch, Ghaziabad-201001, |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vaps & Company Chartered Accountants |
|
Address : |
C-42, South Extension Part II, New Delhi-110049, |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
125000 |
Equity Shares |
Rs.100.00 each |
Rs.12.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
665000 |
Equity Shares |
Rs.10.00
each |
Rs.6.650
millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
6.650 |
0.100 |
|
|
2] Share Application Money |
|
5.700 |
12.700 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
12.350 |
12.800 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.475 |
0.000 |
|
|
TOTAL BORROWING |
|
0.475 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
12.825 |
12.800 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
7.340 |
11.814 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
4.725 |
0.000 |
|
|
Cash & Bank Balances |
|
1.002 |
0.992 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
5.727 |
0.992 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
0.241 |
0.008 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
0.241 |
0.008 |
|
|
Net Current Assets |
|
5.485 |
0.984 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.001 |
|
|
|
|
|
|
|
|
TOTAL |
|
12.825 |
12.800 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
Total Income |
|
NA |
NA |
|
|
|
|
|
|
Total Expenses |
|
(0.025) |
(0.254) |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.06
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
23.76
|
124.00 |
LOCAL AGENCY FURTHER INFORMATION
Form 8 Particular for
creation or modification of charges
|
Corporation identity number or foreign company registrations number of the company |
U23201RJ2001PTC017253 |
|
Name of the company |
SALASAR PETROCHEMICALS PRIVATE LIMITED |
|
Address |
B-5, 1st Floor, Ganpati Enclave, |
|
This Form is for |
Creation of charge |
|
Type of Charges |
Immovable property |
|
Particular of the charge holder |
Canara Bank, SSI Branch, Ghaziabad-201001, |
|
Nature or description of the instrument creating charge |
Letter evidencing deposit of title deeds |
|
Date of the instrument creating charge |
23.01.2007 |
|
Amount Secure by the charge |
Rs.30.000 millions |
|
Brief of the principal terms and conditions and extent and operation of the charge |
Others The said charge is mortgage to secure following credit facilities
granted by the bank to the company : Cash Credit : Rs.15.000 millions Sub Limit OD (against book debts) : Rs.7.500 millions Guarantee : Rs.15.000 millions Total : Rs.30.000 millions |
|
Particulars of the Property charged |
Equitable mortgage by deposit of title deeds in respect of immovable
property of the company situated at Khasra No.283, Parsoon Dasna, Hapur,
Ghaziabad (UP) admeasuring 10407 square meters together with all buildings, super
structures, fixed machinery and plant, fixtures and fittings threat. |
The situation of the registered office of the company has changed from:
G-276, RICCO Industrial Area, Bhiwari, Alwar-301010,
To:
B-5, 1st Floor, Ganpati Enclave,
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 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.40.36 |
|
|
1 |
Rs.82.23 |
|
Euro |
1 |
Rs.55.65 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
45 |
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 |
|