MIRA
INFORM REPORT
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Report Date : |
18.05.2007 |
IDENTIFICATION DETAILS
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Name : |
NORTH STAR TUBES PRIVATE LIMITED |
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Registered Office : |
117, Mittal Chambers, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
25.01.2005 |
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Com. Reg. No.: |
01-45183 |
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CIN No.: [Company
Identification No.] |
U27107AP2005PTC045183 |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer of steel products |
RATING & COMMENTS
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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 : |
USD 500 |
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Status : |
Small company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively 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
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Registered Office : |
117, Mittal Chambers, |
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Tel. No.: |
91-40-27711003 / 66323900 / 659190001 /
659140001 |
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Mobile No.: |
91-9848040001 / 9848460001 [Ajit Jalan] /
9848860001 [Hasan Ali] / 9848130001 [Vikas Khetan] |
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Fax No.: |
91-40-66323901 |
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E-Mail : |
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Website : |
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Branches : |
14/1, Ground Floor, 2nd |
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Tel. No.: |
91-80-26674040 |
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Mobile No. : |
9448370001/94484 50001 |
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Fax No.: |
91-80-26674040 |
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E-Mail : |
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Branches : |
663, |
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Tel. No.: |
91-44-25984596 |
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Mobile No. : |
91-9441230001 / 9840057423 |
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Fax No.: |
91-44-25984596 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Ramesh Jain |
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Designation : |
Director |
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Address : |
A1/55, Mayuri Apartments, Mayur marg, Begumpet, |
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Date of Appointment : |
25.01.2005 |
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Name : |
Mr. Syed Hasan Ali |
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Designation : |
Director |
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Address : |
315, SRT, Sanath nagar, |
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Date of Appointment : |
25.01.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Ramesh Jain |
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8000 |
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Mr. Syed Hasan Ali |
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2000 |
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Total |
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10000 |
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Category |
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Percentage of
Holding |
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Directors of relatives of directors |
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100.00 % |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of steel products |
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Products : |
Tubes Galvanized Tubes M S Steel Tubes Precission Tubes Strips H R Strips C R Strips Pig Iron |
GENERAL INFORMATION
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Bankers : |
State Bank of |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
P Mohanna Rao and Company Chartered Accountants |
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Address : |
203, Swagruaha Kalian Apartments, Plot No. 112 & 113, Kalyan
Nagar, Hyderabad – 500018, Andhra Pradesh, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.026 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.126 |
0.100 |
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LOAN FUNDS |
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1] Secured Loans |
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4.002 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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4.002 |
0.000 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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4.128 |
0.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
0.000 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.566 |
0.000 |
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Sundry Debtors |
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8.353 |
1.001 |
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Cash & Bank Balances |
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0.121 |
0.087 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.019 |
0.000 |
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Total
Current Assets |
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9.059 |
1.088 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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4.659 |
1.000 |
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Provisions |
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0.285 |
0.005 |
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Total
Current Liabilities |
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4.944 |
1.005 |
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Net Current Assets |
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4.115 |
0.083 |
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MISCELLANEOUS EXPENSES |
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0.013 |
0.017 |
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TOTAL |
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4.128 |
0.100 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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71.00 |
10.05 |
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Current Ratio (Current Asset/Current Liability) |
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1.83 |
1.08 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges Report as per Registry
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Name of the company |
NORTH STAR TUBES
PRIVATE LIMITED |
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Presented By |
RAMESH JAIN |
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1) Date and description of instrument creating the change |
Agreement of cash
Credit dated 04.07.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.500
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 |
Hypothecation of
Stock and Book Debts |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 12.25
% |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of Commercial Branch Secunderabad |
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6) Date and brief description of instrument modifying the charge |
NA |
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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. |
NA |
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Corporate
identity number of the company |
U27107AP2005PTC045183 |
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Name of the
company |
NORTH STAR TUBES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
117, Mittal Chambers, |
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This form is for |
Modification of
charges |
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Type of charge |
Simple
mortgage |
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Particular of
charge holder |
State Bank of Small
Enterprises, Commercial Branch, Secunderabad –
500003, |
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Nature of
instrument creating charge |
Supplemental
agreement of way for increase of in the overall limit |
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Date of
instrument Creating the charge |
04.07.2005 |
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Amount secured by
the charge |
Rs. 5.000
Millions |
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Date of
instrument Creating the charge |
19.05.2006 |
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Description of
the property charged indicating whether it is a charged on |
Book debts |
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Charge
identification number of the charge to be modified |
80006105 |
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Bring description
of the instrument modification the charge under section 135 |
Supplemental
agreement of loan for increase is its overall limit |
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Particular of the
present modification |
Limits increased
loan 2.5 millions to 5.0 millions |
AS PER WEBSITE
Subject is a leading Representative of Manufacturers in
They work in close co-ordination with their clients to
deliver products that are in exact accordance to the specifications mentioned
by the clients.
The
Core Values
» Customer Loyalty
» Customer Satisfaction
» Commitment to Quality
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» Steel Tubes :
˝” dia to 16” dia
» G I pipes : ˝ “ dia
to 16” dia
» Precission Pipes : 12.70
mm OD to 63.50 mm OD
» Sections : HR / CR
both matching of all above
» Pregalva steel tubes
: All above matching
» Pig Iron : foundary
grade / special grade
» High Mast/ Tubular Poles:
Polygonal Pole up to 14m height, design as per ILE TR-7:2000 & BS 5649
The exact range of product can be observed in the particular product range
Team :-
Mr RAMESH JAIN , M.Sc (
TECH ) ( BITS PILANI )
MANAGING DIRECTOR
Mobile : +91-98480-40001
Email : rj@northstartubes.com
Mr HASAN ALI
DIRECTOR ( FUNDS / ADMINISTRATION )
Mobile : +91-98488-60001
Email : hasan@northstartubes.com
Mr AJIT JALAN
HEAD ( ACCOUNTS / SALES )
Mobile : +91-98484-60001
Email : ajit@northstartubes.com
Mr VIKAS KHETAN
( FIELD ACTIVITIES)
Mobile : +91-98481-30001
Email : vikas@northstartubes.com
Mr AHMED KHAN
FIELD ACTIVITIES
Mobile : +91-98487-20001
Email : ahmed@northstartubes.com
ASSOCIATES LOCATION :-
PUNE - pune@northstartubes.com
MUMBAI - om@northstartubes.com
KOLKATA - mittal@northstartubes.com
KATHMANDU (
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.90 |
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1 |
Rs.80.78 |
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Euro |
1 |
Rs.55.18 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
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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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28 |
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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