MIRA
INFORM REPORT
|
Report Date : |
23.05.2007 |
IDENTIFICATION DETAILS
|
Name : |
TUNIP
AGRO PRIVATE LIMITED |
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Registered Office : |
114, 1st
Floor, J. P. Nagar, C-Co-operative Housing Society, Janata Nagar Road,
Bhayander (West), District Thane - 401101, Maharashtra |
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Country : |
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Date of Incorporation : |
03.09.2004 |
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Com. Reg. No.: |
11-148387 |
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CIN No.: [Company
Identification No.] |
U15100MH2004PTC148387 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMT11447C |
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PAN No.: [Permanent
Account No.] |
AACCT0817D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Dealer
of Natural Juice (Onjus) |
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 : |
USD
800 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
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Comments : |
The company import
fruit juice concentrap and get it manufactured by Godrej foods. It’s ‘ONJUS’ brand
are marketed thru departmenttal store and hypercity. It has been well
received. Mr. Sidhant,
Director assured to fax us financials and if available, it will be sent soon. The company’s
payment and banking relations are unknown. It can be considered
for small to mediocre business dealings against D/A or D/P terms. |
LOCATIONS
|
Registered Office : |
114, 1st
Floor, J. P. Nagar, C-Co-operative Housing Society, Janata Nagar Road,
Bhayander (West), District Thane - 401101, Maharashtra, India |
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Corporate Office : |
222A,
Commerce House, |
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Tel. No. : |
91-22-22630895 |
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Fax No. : |
91-22-22630896 |
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Email : |
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Website : |
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Area |
1000
Sq. Fts |
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Location : |
Rented
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DIRECTORS
|
Name : |
Mr.
Jaysing Vasant Mankar |
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Designation : |
Director
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Address : |
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Date of Appointment : |
03.09.2004 |
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|
Name : |
Mr.
Leo Boldo Fernando |
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Designation : |
Director
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Address : |
114, 1st
Floor, J P Nagar “C” Co-operative Housing Society, Janta Nagar, Bhyander
[West], Thane - 401101 |
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Date Of Birth / Age |
46
years |
|
Qualifacation : |
Graduate
|
|
Experience |
20
Years |
|
Date of Appointment : |
03.09.2004 |
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Name : |
Ms. Varsha
Agarwal Rodewald |
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Designation : |
Director
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Address : |
17, |
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Date of Appointment : |
09.09.2004 |
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Name : |
Mr.
Sidhant Goyal |
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Designation : |
Director
|
|
Date Of Birth / Age |
22
Years |
|
Qualifacation : |
Graduate
|
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|
Name : |
Mr.
Sudir Sabarwal |
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Designation : |
Director |
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Date Of Birth / Age |
53
Years |
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Qualifacation : |
B.A. |
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Experience |
30
Years |
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|
|
|
Name : |
Ms
Varsha Rodwaltdt |
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Designation : |
Director
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Date Of Birth / Age |
36
Years |
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Qualifacation : |
M.
B.A. |
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Experience |
12
years |
BUSINESS DETAILS
|
Line of Business : |
Dealer
of Natural Juice (Onjus) |
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Imports
: |
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Products : |
Orange Juice Concentratp, Apple Juice Concentratp |
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Countries : |
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Terms
: |
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Selling : |
Cash ,
Credit (30 Days ) |
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Purchasing : |
Cash |
GENERAL INFORMATION
|
Customers
: |
Supermarket
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No.
of Employees : |
60 |
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|
|
Bankers : |
Tamilnad
Mercantile Bank Limited Goradia
House, 1st Floor, 101-104, Kazi Syed Street, Mandvi Post No. 3181,
Mumbai – 400003, Maharashtra, India HDFC
Bank , Mumbai |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 million |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.100
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1]
Share Capital |
|
0.100 |
0.100 |
|
|
2]
Share Application Money |
|
0.000 |
0.000 |
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|
3]
Reserves & Surplus |
|
0.106 |
0.033 |
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4]
(Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
0.206 |
0.133 |
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|
LOAN
FUNDS |
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|
1]
Secured Loans |
|
0.000 |
0.000 |
|
|
2]
Unsecured Loans |
|
9.950 |
9.950 |
|
|
TOTAL BORROWING |
|
9.950 |
9.950 |
|
|
DEFERRED
TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
10.156 |
10.083 |
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|
|
|
|
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|
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APPLICATION
OF FUNDS |
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|
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|
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FIXED
ASSETS [Net Block] |
|
0.093 |
0.059 |
|
|
Capital
work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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INVESTMENT |
|
2.000 |
2.002 |
|
|
DEFERREX
TAX ASSETS |
|
0.000 |
0.000 |
|
|
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CURRENT
ASSETS, LOANS & ADVANCES |
|
|
|
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Inventories |
|
8.947 |
6.773 |
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Sundry
Debtors |
|
3.911 |
0.266 |
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Cash
& Bank Balances |
|
0.361 |
0.173 |
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Other
Current Assets |
|
0.000 |
0.000 |
|
|
Loans
& Advances |
|
0.224 |
0.475 |
|
Total Current
Assets |
|
13.443 |
7.687 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
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|
|
|
|
|
Current
Liabilities |
|
7.256 |
1.058 |
|
|
Provisions |
|
0.070 |
0.000 |
|
Total Current
Liabilities |
|
7.326 |
1.058 |
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Net Current Assets |
|
6.117 |
6.629 |
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MISCELLANEOUS
EXPENSES |
|
1.945 |
1.393 |
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TOTAL |
|
10.156 |
10.083 |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales
Turnover |
30.000 |
26.003 |
2.838 |
|
|
Other Income |
0.000 |
0.132 |
0.017 |
|
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Total
Income |
30.000 |
27.035 |
2.855 |
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|
|
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|
Profit/(Loss) Before Tax |
N.A. |
0.142 |
0.033 |
|
|
Provision for Taxation |
|
0.050 |
-- |
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Profit/(Loss) After Tax |
N.A. |
0.092 |
0.033 |
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Imports
: |
|
|
|
|
|
|
Raw Materials |
|
0.000 |
1.049 |
|
|
Stores & Spares |
|
2.337 |
1.629 |
|
|
Capital Goods |
|
6.609 |
4.094 |
|
|
Others |
|
0.000 |
0.000 |
|
Total
Imports |
N.A. |
8.946 |
6.772 |
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|
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Expenditures : |
|
|
|
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|
Cost of Goods Sold |
|
14.805 |
3.862 |
|
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Administrative Expenses |
|
13.683 |
3.041 |
|
|
Depreciation & Amortization |
|
0.018 |
0.011 |
|
|
Other Expenditure |
|
0.000 |
0.000 |
|
Total
Expenditure |
N.A. |
28.506 |
6.914 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT /
Total Income |
(%) |
|
0.34 |
1.15 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
|
0.54 |
0.10 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
1.04 |
0.42 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.68 |
0.24 |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
83.86 |
82.76 |
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Current Ratio (Current Asset/Current Liability) |
|
|
2.19 |
7.26 |
LOCAL AGENCY FURTHER INFORMATION
BUSINESS
To carry
on all its branches the business of production, manufacture, sale, purchase,
processing, refining, packing, deal in, grow, plant, blend, produce, import,
export, buy & sell, market & distribute all kinds of agricultural,
vegetable & fruit produce, food products, cerel products, beverages,
juices, tea, coffee, coco seeds, fruits, vegetable, milk products, poultry,
animal husbandry & products thereof, dairy & dairy products, vegetable
& edible oils, provisions of all kinds, plantations, natural &
synthetic rubber, cattle food, oil extractions, & manufacturers, millers,
flour milling, cold storage plants & refrigeration equipment & other
apparatus for preservation of agricultural & dairy produce, poultry
products & food stuff & any goods or activity usually dealt in any of
the above businesses.
To
promote, establish, improve, develop, administer, own & run agro
industries, projects or enterprises or programmes for manufacture or production
of plant, machinery, implements, accessories, tools materials, substances,
goods or things of any descriptions which in the opinion of the company will
help the growth & modernization of agricultural, horticulture, forestry,
pisciculture, sericulture, apiculture, poultry farming & animal husbandry.
To
promote, establish, improve, develop, administer, own & run agro
industries, projects or enterprises or programmes for processing &
preservation of agricultural produce, forest produce & products of
piscciculture, sericulture, apiculture & of animal origin for purpose of
increasing quality or availability or otherwise of goods subsidiary foods in
all their forms & variations either for export or consumption in the
country.
Form 8 Particular for creation or modification of
charges
|
Corporation identity number or foreign company registrations number of the company |
U15100MH2004PTC148387 |
|
Name of the company |
TUNIP AGRO PRIVATE LIMITED |
|
Address |
222A
Commerce House, 140, |
|
This Form is for |
Creation of Charge |
|
Particular of the charge holder |
Tamilnad Mercantile Bank Limited Goradia House, 1st Floor, 101-104, Kazi Syed Street, Mandvi Post No. 3181, Mumbai – 400003, Maharashtra, India |
|
Name or description of the instrument creating charge |
1. Letter of Hypothecation 2. Letter of Hypothecation of Book – debts – loans [Both the agreements constitute a single charge] |
|
Date of the instrument creating charge |
18.05.2006 |
|
Amount Secure by the charge |
FLC – Rs. 2 millions |
|
Description of the property charge whether it is a charge on |
Stock in trade and Book Debts |
|
Particulars of the Property Charged |
Hypothecation of the borrowers stock of raw materials, fruits, juice, fruits/beverages whether raw or in process of manufacture and all articles, manufactured therefrom which now or hereafter from time to time during the continuance of this security shall belong to or be in the possession or under the control of the borrower in whatsoever capacity and wherever lying stored or kept and whether in the possession of the borrower or of the bank or of any third party whether in India or elsewhere through the world [including all such goods as may be in course of shipment transistor delivery and also all shipping and other documents of title [negotiable instruments, bills, drafts, bills of lading policies of insurance] and other documents and instruments relating to such good together with the benefit of all rights relating thereto shall by hypothecated to the bank and its assigns by way of first charge. Hypothecation of all the borrowers present and future book debts, outstanding, moneys, receivables claims, bills, contracts, securities, investments, rights and assets [except property effectively otherwise hypothecated or charged to the bank] shall be hypothecated to the bank and their assigns by way of first charge. |
|
Corporation identity number or foreign company registrations number of the company |
U15100MH2004PTC148387 |
|
Name of the company |
TUNIP AGRO PRIVATE LIMITED |
|
Address |
114, 1st Floor, J. P. Nagar, C-Co-operative Housing Society, Janata Nagar Road, Bhayander (West), District Thane – 401101, Maharashtra |
|
This Form is for |
Creation of Charge |
|
Particular of the charge holder |
Tamilnad Mercantile Bank Limited Goradia House, 1st
Floor, 101-104, Kazi Syed Street, Mandvi Post No. 3181, Mumbai – 400003,
Maharashtra, India E-mail : tmb@vsnl.com |
|
Name or description of the instrument creating charge |
1. Agreement for demand cash credit on the hypothecation of movable properties 2. Letter of hypothecation of book debts loans [Both the agreements constitute a single charge] [ILC – Rs. 1 million] |
|
Date of the instrument creating charge |
18.05.2006 |
|
Amount Secure by the charge |
Rs. 1 million |
|
Description of the property charge whether it is a charge on |
Stock in trade and Book Debts |
|
Particulars of the Property Charged |
[1] Hypothecation of the borrowers stock of raw materials, fruits, juice, fruits/beverages whether raw or in process of manufacture and all articles, manufactured there from which now or hereafter from time to time [2] Hypothecation of all the borrowers present and future book debts, outstanding, moneys, receivables claims, bills, contracts, securities, investments, rights and assets [except property effectively otherwise hypothecated or charged to the bank] shall be hypothecated to the bank and their assigns by |
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
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.40.55 |
|
|
1 |
Rs.80.08 |
|
Euro |
1 |
Rs.54.58 |
|
|
|
|
SCORE
& RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP
CAPITAL |
1~10 |
2 |
|
OPERATING
SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT
LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT
POINTS |
|
|
|
--BANK
CHARGES |
YES/NO |
YES |
|
--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 |
|
27 |
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 |