MIRA
INFORM REPORT
|
Report Date : |
28.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
KOMAL AMIN EXPORTS PRIVATE LIMITED |
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Registered Office : |
210 A, Oxford Avenue, Opposite
C. U. Shah College, Near Income Tax Office, Off Ashram Road, Ahmedabad –
380014, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
02.03.2005 |
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Com. Reg. No.: |
04-45601 |
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CIN No.: [Company
Identification No.] |
U51100GJ2005PTC045601 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMK03364E |
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PAN No.: [Permanent
Account No.] |
AACCK5543B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
To carry on the business in India and elsewhere as buyers, sellers,
wholesalers, dealers, traders, suppliers, exporters, importers, factory,
agents, consignors, consignees, distributors, marketing agents, intending agents,
stockiest of any brand and of all classes, kinds and types of goods,
commodities, consumer products, consumer goods, industrial products,
engineering products, goods, articles and agrochem and agrobased commodities. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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/normal. |
Small |
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Maximum Credit Limit : |
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Status : |
New company |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and in the process of establishing itself.
Directors are however reported as experienced and respectable businessmen.
Trade relations are reported as fair. Payments are usually correct and as per
commitments. The company can be considered for small to mediocre business dealings
with slight caution initially. |
LOCATIONS
|
Registered Office : |
210 A, Oxford Avenue, Opposite
C. U. Shah College, Near Income Tax Office, Off Ashram Road, Ahmedabad –
380014, Gujarat, India |
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Tel. No.: |
91-79-27434511 |
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Fax No.: |
91-79-27434515 |
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Corporate Office : |
309-310, Shanti Arcade, 132
ft. Ring Road, Near Naranpura A.E.C, Naranpura |
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Tel. No.: |
91-79-27434511-14 |
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Mobile No.: |
91-9825084695 / 9377084695 |
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Fax No.: |
91-79-27434515 |
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E-Mail : |
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Website : |
DIRECTORS
|
Name : |
Mr. Suresh Punjiram Amin |
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Designation : |
Director |
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Address : |
20, Uma Bunglows, Ghatlodiya, Ahmedabad - 380061 |
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Name : |
Mr. Paresh Jayantilal Amin |
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Designation : |
Director |
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Address : |
20, Uma Bunglows, Ghatlodiya, Ahmedabad - 380061 |
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Name : |
Mr. Vijay Revabhai Amin |
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Designation : |
Director |
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Name : |
Ms. Subhadra Ben Amin |
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Designation : |
Director |
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Address : |
20, Uma Bunglows, Near RC Technical School, Sarkhej Gandhinagar,
Highway, Ahmedabad - 380061 |
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Date of Birth/Age : |
02.03.1968 |
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Date of Appointment : |
01.04.2006 |
KEY EXECUTIVES
|
Name : |
Mr. Suresh Amin |
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Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
|
Mr. Suresh Punjiram Amin |
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5000 |
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Mr. Paresh Jayantilal Amin |
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5000 |
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Total |
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10000 |
BUSINESS DETAILS
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Line of Business : |
To carry on the business in India and elsewhere as buyers, sellers,
wholesalers, dealers, traders, suppliers, exporters, importers, factory,
agents, consignors, consignees, distributors, marketing agents, intending
agents, stockiest of any brand and of all classes, kinds and types of goods,
commodities, consumer products, consumer goods, industrial products,
engineering products, goods, articles and agrochem and agrobased
commodities. |
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Products : |
Ø Cotton Yarn Ø Synthetic Yarn Ø Cotton Grey Fabrics Ø Cotton Fabrics Ø Denim Fabrics Ø Synthetic Finished Fabrics Ø Knitted Fabric Ø T-shirts Ø Trousers Ø Jeans Ø Bed Sheets Ø Duvets Ø Table Cloth |
GENERAL
INFORMATION
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Bankers : |
Corporation Bank Navrangpura Branch, Opposite Navrangpura Bus Stop, Navrangpura,
Ahmedabad – 380009, Gujarat, India |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Vishnubhai and Company Chartered Accountants |
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Address : |
101, Shanti Arcade, Near Akash III, Naranpura, Ahmedabad – 380013,
Gujarat, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
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|
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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1.000 |
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3] Reserves & Surplus |
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2.010 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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3.110 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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14.748 |
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TOTAL BORROWING |
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14.748 |
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DEFERRED TAX LIABILITIES |
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0.005 |
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TOTAL |
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17.863 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.070 |
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Capital work-in-progress |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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45.204 |
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Sundry Debtors |
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109.399 |
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Cash & Bank Balances |
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0.625 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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1.200 |
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Total
Current Assets |
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156.428 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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136.329 |
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Provisions |
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2.334 |
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Total
Current Liabilities |
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138.663 |
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Net Current Assets |
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17.765 |
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MISCELLANEOUS EXPENSES |
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0.028 |
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TOTAL |
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17.863 |
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KEY RATIOS
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PARTICULARS |
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|
31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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49.33 |
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Current Ratio (Current Asset/Current Liability) |
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1.13 |
LOCAL AGENCY
FURTHER INFORMATION
Business
To carry on the business in India and elsewhere as buyers, sellers,
wholesalers, dealers, traders, suppliers, exporters, importers, factory,
agents, consignors, consignees, distributors, marketing agents, intending
agents, stockiest of any brand and of all classes, kinds and types of goods,
commodities, consumer products, consumer goods, industrial products,
engineering products, goods, articles and agrochem and agrobased
commodities.
To act
as merchant, exporters, agents, brokers and to undertake, perform,
subcontracts, to act through or by means of agents, brokers, subcontractors or
others, to carry on the business of agency and manufactures representatives.
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Corporate
identity number of the company |
U51100GJ2005PTC045601 |
|
Name of the
company |
KOMAL AMIN EXPORTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
210 A, Oxford Avenue, Opposite
C. U. Shah College, Near Income Tax Office, Off Ashram Road, Ahmedabad –
380014, Gujarat |
|
This form is for |
Creation of charge |
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Type of charge |
Hypothecation Equitable mortgage or mortgage of property by deposition the title deeds |
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Particular of
charge holder |
Corporation Bank Navrangpura Branch, Opposite Navrangpura Bus Stop, Navrangpura,
Ahmedabad – 380009, Gujarat, India |
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Nature of
instrument creating charge |
Deed of
Hypothecation of movable / assets / debts dated 05.05.2006 |
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Date of
instrument Creating the charge |
05.05.2006 |
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Amount secured by
the charge |
Rs. 10.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Export bill
discounting facilities of Rs. 10.000 Millions sanctioned as working capital
finance Margin – 50 % at
present, rate of interest at present as per bank Guidlinne 7.5 p.a. for
usancne bill upto 90 days from advance and 10.50 % p.a. for usanne bill above
90 days from the date of advance and upto 150 days form the date of shipment
repayable on demand. |
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Description of
the property charged indicating whether it is a charged on |
Stock in trade Book debts |
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Particulars of
the property charged |
Present and
future stock in trade, goods, which now belongs to and may hereafter during
the substance belong to and which are / shall may be brought into or stored
or be in / upon the borrower’s premises / godowns / or any other places or
wherever else or in course of transit or delivery to the borrower. All present and
future receivables of the company and immovable properties of directors /
relatives as collateral securities. |
Profile
Komal Amin Exports Private Limited manufacture and exports superior quality
textiles that have been developed under stringent conditions to offer 100%
customer satisfaction to its users. They manufacture products such as: raw
cotton, cotton yarn, synthetic yarn, knitted fabrics, etc.
Their comprehensive quality assurance procedures ensures that each product
churned out is par excellence and conforms to the highest norms of quality. To
achieve this, they use high quality raw material that is procured from the
respected suppliers; each level of the manufacturing process is carefully
monitored, and elaborate quality assurance tests are taken to ensure that the
products are long lasting, color fast, light fast, soft & comfortable and
of impeccable finish. Their team of researchers and scientists constantly
engage in R&D programs to try and come out with better products. Besides,
they also work in close co-ordination with their clients to understand their
specific requirements and deliver products that matches their expectations.
Their sound infrastructure, well equipped with modern machines provides us the
adequate support to back their operations smoothly and execute orders in the
most conducive manner.
Corporate Office :
They have adopted the policy of Total Quality Management for their
manufacturing process. Thus, all their products are developed carefully.
Special attention is given to the quality of colors and dies used.
Ø
They
have a sound infrastructure and a proficient team to back their operations.
Ø
They
can also customize products as per the specifications of their clients.
Ø
They
manufacture products within the stipulated time frame.
Ø
They
offer products at a market leading price.
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.44.27 |
|
UK Pound |
1 |
Rs.86.87 |
|
Euro |
1 |
Rs.58.53 |
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 |
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--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
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|
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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 |
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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