MIRA
INFORM REPORT
|
Report Date : |
28.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
G K JAIN AUTO PRIVATE LIMITED |
|
|
|
|
Registered Office : |
147, Vihar Nagar, Panipat – 132003, Haryana |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
17.11.2006 |
|
|
|
|
Com. Reg. No.: |
36457 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U34300HR2006PTC036457 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and exporter of unparalleled high
precision auto turned parts, CNC turned parts. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
-- |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively new and small company having satisfactory
track. Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are however
reported as usually correct and as per commitments. The company can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
147, Vihar Nagar, Panipat – 132003, |
|
Mobile No.: |
91-9311034000 / 9810002367 / 9310002367 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Plot No.-586,
Sector-8, IMT Manesar, Gurgaon - 122001, |
|
Tel. No.: |
91-124-2341142 |
|
Fax No.: |
91-124-2341142 |
DIRECTORS
|
Name : |
Mr. Kiran Bala |
|
Designation : |
Director |
|
Address : |
Kiran Clinic K-1, Sector – 21 C, Part 1, |
|
Date of Birth/Age : |
25.01.1959 |
|
Date of Appointment : |
04.12.2006 |
|
|
|
|
Name : |
Mr. Gautam Jain |
|
Designation : |
Director |
|
Address : |
R – 48, Raj Kunj Near Sector – 14, Opposite SSP House Raj Nagar, |
|
Date of Birth/Age : |
25.12.1978 |
|
Date of Appointment : |
04.12.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Kiran Bala |
|
5000 |
|
Gautam Jain |
|
5000 |
|
Total |
|
10000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and exporter of unparalleled high
precision auto turned parts, CNC turned parts. |
|
|
|
|
Products : |
·
High Precision Auto
Turned Parts ·
CNC Turned
Parts/Components ·
Pivot ·
Upper Metal ·
Gears ·
Case Differential ·
Cartridge Body |
GENERAL INFORMATION
|
Suppliers : |
Sona Koyo Steering Limited ER Auto Private Limited |
|
|
|
|
No. of Employees : |
25 |
|
|
|
|
Bankers : |
Bank of |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.500 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
New Company
LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE
Precision turned components are widely used in the
automobile arena. Subject is a highly acclaimed manufacturer and exporter of
unparalleled high precision auto turned parts, CNC turned parts.
They endeavor to fully understand their customer's requirement and continuously
exceed their technological expectations, i.e. to deliver the finest engineering
solutions to them.
The company is professionally managed by highly experienced
professionals having years of experience in their respective disciplines. They synergize
the technology, the system and the human resources to manufacture the premier
quality products to satisfy their worldwide clients. Their impeccable quality
has helped them to gain a reputable market share in both the domestic and
overseas markets. They are a regular supplier to the companies like Sona Koyo
Steering Limited, ER Auto Private Limited, and many more such prominent brands.
Quality
Assurance
They are a quality driven organization. All the tools
manufactured from their unit withstand heavy duty with accuracy, delivering
highly productive and dependable operations. The company strictly follows
stringent quality control procedures at every level of its operation process.
Every item is manufactured under the strict vigilance of diligent quality
inspectors who are capable of foiling every attempt on quality front. They
always promote client oriented approaches in order to maintain everlasting
business partnerships with their valued patrons.
Capability
to Feed Bulk Demand
They are equipped with a series of robust technologies that
help them to deliver world class products at the most affordable prices to
their valued clients. The company possesses spacious storage facility that not
only stores large quantity of goods but also strengthens them in feeding the
bulk demand within the shortest time frame.
Infrastructure
They are a complete amalgam of ultra-modern machines and excellent
manpower that provide them the blueprint for manufacturing world class
products. Their facility is equipped with the latest standardized machines to
deliver excellent products at the most reasonable prices to their prestigious
clients. They regularly upgrade their technological assets in order to deliver
the most advanced range of products at reasonable prices.
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U34300HR2006PTC036457 |
|
Name of the
company |
G K JAIN AUTO PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
147, Vihar Nagar, Panipat – 132003, |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Bank of |
|
Nature of description
of the instrument creating or modifying the charge |
Agreement of term
loan and hypothecation of movable assets / plant and machinery |
|
Date of
instrument Creating the charge |
12.01.2007 |
|
Amount secured by
the charge |
Rs. 4.700
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
: 0 % over BOI BPLR
minimum 12 % p.a. with monthly rests or at such other rate or rates as may be
notified by the Bank form time to time. Terms of
repayment : Repayable in 20
quarterly installments of Rs. 0.235 million each commencing w.e.f. 30.06.2007
interest on term loan to be servies as and when applied on monthly basis. Margin : 36.05 % Extent and
operation of the charge : Availed term loan
of Rs. 4.700 Millions against hypothecation of plant and machinery |
|
Short particulars
of the property charged |
Hypothecation of
all types of movable machineries e.g. manual CNC turning machines, center less
grinding machines, lathe machines, generator set and any other machine used
for manufacturing of automotive parts and / or automobile parts. |
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.40.81 |
|
|
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.54.91 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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 |
|