MIRA
INFORM REPORT
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Report Date : |
22.05.2007 |
IDENTIFICATION DETAILS
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Name : |
SHAH POLYFILMS PRIVATE LIMITED |
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Registered Office : |
D, 61 Laxmi Nagar, |
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Country : |
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Financials (as on) : |
31.03.2001 |
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Date of Incorporation : |
23.09.1994 |
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Com. Reg. No.: |
061730 |
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CIN No.: [Company
Identification No.] |
U74899DL1994PTC061730 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS12384B |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer of Polyfilms. |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Maximum Credit Limit : |
USD 15000 |
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Status : |
Undeterminded |
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Payment Behaviour : |
--- |
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Litigation : |
--- |
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Comments : |
In absence of financials from any sources, it would be difficuilt to assess
company’s performance and financial status. As per registry, it can be regarded as a defunct company. It can be considered for any business dealings on safe and secured
trade terms and condition initially. If we come across with more details, we shall supplement further
details to you. |
LOCATIONS
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Registered Office : |
D, 61 Laxmi Nagar, |
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Plant : |
J-56, Sector 18, Noida – 201301, Uttar Pradesh |
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Tel. No.: |
91-205-312733 |
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Corporate Office : |
C-65 & 66, Basement, Lajpat Nagar, |
DIRECTORS
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Name : |
Not Available |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Polyfilms. |
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GENERAL INFORMATION
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Bankers : |
Not Divulged |
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Auditors : |
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Name : |
Raj Rajhi & Associates Chartered Accountants |
CAPITAL STRUCTURE
No financial are available from all the possible sources- secondary or primary.
However their latest capital structure is as under
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Share |
Rs.10/- Each |
Rs.5.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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397000 |
Equity Share |
Rs.10/- Each |
Rs.3.970 millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2001 |
31.03.2000 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.397 |
0.397 |
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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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0.182 |
0.207 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.579 |
0.604 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.237 |
0.097 |
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TOTAL BORROWING |
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0.237 |
0.097 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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0.816 |
0.701 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.456 |
2.292 |
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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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Sundry Debtors |
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1.756 |
2.653 |
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Cash & Bank Balances |
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Other Current Assets |
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Loans & Advances |
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Total
Current Assets |
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1.756 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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3.396 |
4.244 |
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Current Liabilities |
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Provisions |
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Total
Current Liabilities |
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3.396 |
4.244 |
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Net Current Assets |
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-1.640 |
-1.591 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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0.816 |
0.701 |
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KEY RATIOS
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PARTICULARS |
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31.03.2001 |
31.03.2000 |
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Debt Equity Ratio (Total Liability/Networth) |
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6.27 |
7.18 |
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Current Ratio (Current Asset/Current Liability) |
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0.51 |
0.62 |
LOCAL AGENCY FURTHER INFORMATION
Business :
The concern may be manufacturer of Polyfilms. Manufacturer facility is owned
as reported. As per registry, the concern can be regarded as defunct as no
financial or business details could be available from any sources.
Management remained non
cooperative during current investigation. Given telephone number is
incorrect.
Our efforts to locate their telephone number failed.
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 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.40.55 |
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1 |
Rs.80.08. |
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Euro |
1 |
Rs. 54.58 |
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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