MIRA
INFORM REPORT
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Report Date : |
14.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
KUMAR COTTON MILLS PRIVATE LIMITED |
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Registered Office : |
249 New Cloth Market O/S Raipur Gate, Ahmedabad, Gujarat |
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Country : |
India |
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Financials (as on) : |
19.07.2006 |
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Date of Incorporation : |
30.03.1990 |
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Com. Reg. No.: |
04-13562 |
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CIN No.: [Company
Identification No.] |
U17710GJ1990PTC013562 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMK00068F |
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PAN No.: [Permanent
Account No.] |
AAACK6212H |
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Legal Form : |
Private Limited liability Company |
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Line of Business : |
Manufacturers and exporters of all kinds of cotton fabrics, cotton
printed fabrics, bed sheet fabrics, circular knitted fabrics, single and
jersey fabrics etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 20000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subjects is a well-established and reputed company having satisfactory
track. 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
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Registered Office : |
249 New Cloth Market O/S Raipur Gate, Ahmedabad, Gujarat India |
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Tel. No.: |
91-79-22160767 |
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Mobile No: |
91-9898060092 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Ajay R. Agarwal |
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Designation : |
Director |
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Address : |
5 Someshwara Complex-II, Nr. Bidiwala
Park, Satellite Road, Ahmedabad, Ahmedabad 380015, Gujarat |
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Date of Birth/Age : |
01.08.1969 |
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E-mail : |
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Date of Appointment : |
31.03.1990 |
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Name : |
Mr. Rajendra R.Agarwal |
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Designation : |
Director |
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Address : |
5 Someshwara Complex-II, Nr. Bidiwala
Park, Satellite Road, Ahmedabad, Ahmedabad 380015, Gujarat |
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Date of Birth/Age : |
11.12.1958 |
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Experience : |
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Date of Appointment : |
23.06.2000 |
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Name : |
Mr. Ashok Kumar Trivedi |
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Designation : |
Director |
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Address : |
49, Vasant Marg, Vasant Vihar, New Delhi 110057, Delhi, India |
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Date of Birth/Age : |
20.04.1949 |
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E-mail: |
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Date of Appointment : |
28.10.2003 |
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Name : |
Mr. Sunil Tekchand Wadhwani |
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Designation : |
Director |
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Address : |
930,Osage Road, Pittsburgh PA 15243 United States of America |
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Date of Birth/Age : |
21.12.1952 |
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E-mail: |
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Date of Appointment : |
28.10.2003 |
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Name : |
Mr. Mukund Srinath |
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Designation : |
Alternate Director |
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Address : |
No.8, ‘Rashmi’ Lakshmi Road, 1st Cross, Shanthinagar,
Bangalore 560027, Karnataka |
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Date of Birth/Age : |
26.11.1960 |
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E-mail : |
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Date of Appointment : |
17.10.2005 |
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Name : |
Mr. Ramchandra Nateseen |
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Designation : |
Director |
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Address : |
602, Shobha Opal, 39th Cross, 18th Main,
Jayanagar, 4th T Block, Bangalore 560041, Karnataka |
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Date of Birth/Age : |
24.04.1953 |
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E-mail : |
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Date of Appointment : |
28.10.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Balvantra Agarwal |
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5 |
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Mr. Rajendra Prasad Agarwal |
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5 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and exporters of all kinds of cotton fabrics, cotton printed
fabrics, bed sheet fabrics, circular knitted fabrics, single and jersey
fabrics etc. |
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Products : |
Finished Cloths |
GENERAL
INFORMATION
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No. of Employees : |
About 500 |
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Bankers : |
United bank of India Ahmedabad Branch, Post boxNo:170, United Bank of India Building, Lal Darwaja, Ahmedabad-380001,Gujarat,
India |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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45000 |
Equity Shares |
Rs.100/-(each) |
Rs.4.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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43210 |
Equity shares |
Rs.100/-(each) |
Rs.4.321
Millions |
LOCAL AGENCY
FURTHER INFORMATION
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Name of the
company |
Kumar Cotton Mills Private Limited |
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Presented By |
Mr.Rajendraprasad. R. Agarwal |
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1) Date and
description of instrument creating the change |
Memorandum of regd. Equitable Mortgage of title deed dtd. 29.10.2004 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs.21.00 Millions |
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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 |
Regd. Equitable
Mortgage of factory land and building situated at survey No.108/1, Land
adm.11129 Sq. Mtrs. At Mouje:Village: Narol Tal :City Dist: Ahmedabad |
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4) Gist of the terms
and conditions and extent and operation of the charge. |
Roi: 11.25% or
Such other rate as may be determined by the bank. |
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5) Name and
Address and description of the person entitled to the charge. |
United Bank of
India, Ahmedabad Branch. Ahmedabad |
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6) Date and brief description of instrument
modifying the charge |
Extension of
Equitable Mortagage to secure the limits dated 4.02.2005 |
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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. |
Mortgage is
extended to secure a limit of Rs.10.000 Millions Granted to Rakesh Textile
mills making a total Charge to Rs.31.000 Millions |
About Them:
Established in 1981 with just printing unit,
today Kumar Cotton Mills Private Limited composite textile mills having
spinning weaving and processing. Their annual about 5 Million US$. Their
Production capacity is 100000mtrs per day.
They are specialized in manufacturing
exclusive cotton suiting (Bottom Weight Blended Suiting.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.98 |
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UK Pound |
1 |
Rs.85.59 |
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Euro |
1 |
Rs.58.49 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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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 |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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54 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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