MIRA
INFORM REPORT
|
Report Date : |
12.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SHREE VENKATESHWARA SPONGE AND POWER PRIVATE LIMITED |
|
|
|
|
Registered Office : |
B-1, Seeta Vihar, Avanti Vihar, Raipur, Chattisgarh |
|
|
|
|
Country : |
India |
|
|
|
|
Date of Incorporation : |
12.04.2005 |
|
|
|
|
Com. Reg. No.: |
10-17507 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U27104CT2005PTC017507 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
JBPS04354A |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAICS9431N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
To carry on in India or elsewhere the business of manufacturing,
producing, altering, converting, processing, treating, improving,
manipulating, extruding, milling, slitting, cutting, casting, forging,
rolling and rolling of all shapes, sizes, varieties, specifications,
dimensions and strength of iron and steel products including bars, rods,
structures, profiles, pipes, sheets, castings, wires, rolling metals,
grinders, channels, angles, rolls, ingots, flats, slabs, torsteels, bright
bars, shaftings, beams, rounds, squares, hexagon, octagons, foils, joints,
deformed bars, their products, by-products and other allied materials, goods,
articles and things made of all grades of iron and steel, alloy steel,
special steel or any combination thereof with any other ferrous or
non-ferrous materials and to act as agent, broker, distributor, stockist,
importer, exporter, buyer, seller, jobworker, convertor, consultant,
supplier, vendor or otherwise to deal in all goods, articles or things
incidental to the attachment of the above objects. To manufacture, deal, import and export sponge iron, pig iron, ferro
silicon, ferro chrome and other ferrous substances and metals of every
description and grades and to manufacture, deal, import and export all kinds
and varieties of anon ferrous raw materials such as aluminium, copper, tin,
lead etc. and the by products obtained in processing and manufacturing these
raw metals. |
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 |
|
Maximum Credit Limit : |
|
|
|
|
|
Status : |
New Company |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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 reported as usually
correct and as per commitments. The company can be considered for small to mediocre business dealings
with slight caution initially. |
LOCATIONS
|
Registered Office : |
B-1, Seeta Vihar, Avanti Vihar, Raipur, Chattisgarh, India |
|
|
|
|
Factory 1 : |
Plot No.90/1, Ward 25, Prasant Colony bellary, Halkundi Village,
Bellary Taluk and District |
|
Tel. No.: |
91-8578-287619 |
DIRECTORS
|
Name : |
Mr. S. Narayanan |
|
Designation : |
Director |
|
Address : |
B-1, Seeta Vihar, Avanti Vihar, Raipur, Chattisgarh, India |
|
Date of Appointment : |
12.04.2005 |
|
|
|
|
Name : |
Mr. P.V. S. Rao |
|
Designation : |
Director |
|
Address : |
B-1, Seeta Vihar, Avanti Vihar, Raipur, Chattisgarh, India |
|
Date of Appointment : |
12.04.2005 |
|
|
|
|
Name : |
Ms. Kavita Sharma |
|
Designation : |
Director |
|
Address : |
B-1, Seeta Vihar, Avanti Vihar, Raipur, Chattisgarh, India |
|
Date of Appointment : |
12.04.2005 |
|
|
|
|
Name : |
Mr. Tapal Bhawani Prasad |
|
Designation : |
Director |
|
Address : |
Sai Bhawan, Plot No.16, Renukachar Nagar, Bellary |
|
Date of Appointment : |
20.10.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
|
Mr. S. Narayanan |
10000 |
|
Mr. P.V.S. Rao |
10000 |
|
Ms. Kavita Sharma |
10000 |
|
Total |
30000 |
BUSINESS DETAILS
|
Line of Business : |
To carry on in India or elsewhere the business of manufacturing, producing,
altering, converting, processing, treating, improving, manipulating,
extruding, milling, slitting, cutting, casting, forging, rolling and rolling
of all shapes, sizes, varieties, specifications, dimensions and strength of
iron and steel products including bars, rods, structures, profiles, pipes,
sheets, castings, wires, rolling metals, grinders, channels, angles, rolls,
ingots, flats, slabs, torsteels, bright bars, shaftings, beams, rounds,
squares, hexagon, octagons, foils, joints, deformed bars, their products,
by-products and other allied materials, goods, articles and things made of
all grades of iron and steel, alloy steel, special steel or any combination
thereof with any other ferrous or non-ferrous materials and to act as agent,
broker, distributor, stockist, importer, exporter, buyer, seller, jobworker,
convertor, consultant, supplier, vendor or otherwise to deal in all goods,
articles or things incidental to the attachment of the above objects. To manufacture, deal, import and export sponge iron, pig iron, ferro
silicon, ferro chrome and other ferrous substances and metals of every
description and grades and to manufacture, deal, import and export all kinds
and varieties of anon ferrous raw materials such as aluminium, copper, tin,
lead etc. and the by products obtained in processing and manufacturing these
raw metals. |
|
|
|
|
Products : |
Sponge Iron – 50000 Tpa, Iron Ore Pellets etc. |
GENERAL
INFORMATION
|
Bankers : |
ICICI Bank Limited, Zonith House, Keshav Rao Khyand marg Mahalaxmi, Mumbai-400054, Mahrashtra, India |
|
|
|
|
Banking
Relations : |
-- |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
millions |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for
creation or modification of charges
|
Name of the company |
SHREE
VENKATESHWARA SPONGE AND POWER PRIVATE LIMITED |
|
Presented By |
Mr. P.V. Srinivas Rao |
|
1) Date and description of instrument creating the change |
07.06.2005 Loan cum Hypothecation Agreement |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.1.500 millions, 3CB 3D |
|
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 |
JCB 3D Attached accessories and substitution replacement and exchange thereof all insurance and other proceeds thereof whether present of future. The borrower will not create any security on the collaterals without consent of ICICI Bank Limited. The borrower shall execute a demand promissory note informer and ICICI Bonus |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
First charge |
|
5) Name and Address and description of the person entitled to the charge. |
ICICI Bank Limited Zonith House, Keshav Rao Khyand Marg Mahalaxmi, Mumbai-400054, Mahrashtra, India |
|
6) Date and brief description of instrument modifying the charge |
N.A. |
|
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. |
N.A. |
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.44.22 |
|
UK Pound |
1 |
Rs.85.51 |
|
Euro |
1 |
Rs.58.47 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--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 |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
18 |
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 |
|