MIRA
INFORM REPORT
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Report Date : |
27.10.2007 |
IDENTIFICATION
DETAILS
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Name : |
GREEN EARTH PRODUCTS PRIVATE LIMITED |
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Registered Office : |
W 105, Khuranas, Greater Kailash, Part I, New Delhi 110048 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
22.11.2005 |
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Com. Reg. No.: |
55-142791 |
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CIN No.: [Company
Identification No.] |
U51909DL2005PTC142791 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELG09695A |
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PAN No.: [Permanent
Account No.] |
AACCG5700E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and exporters of India spices, botanical herbs, herbal extracts |
RATING &
COMMENTS
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MIRAs Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 300 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and has incurred some initial losses. The
company is in the process of establishing itself. Payments are reported as
slow but correct. The company can be considered for any business dealing on safe and
secured trade terms and conditions, initially. |
LOCATIONS
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Registered Office : |
W 105, Khuranas, Greater Kailash, Part I, New Delhi 110048,
India |
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Tel. No.: |
91-11-29239095 |
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Mobile No.: |
91-9810153563 |
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Fax No.: |
91-11-41635095 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Veneet Khurana |
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Designation : |
Director |
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Address : |
W 105, Greater Kailash Part I, New Delhi 110048, India |
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Date of Birth/Age : |
17.08.1960 |
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Date of Appointment : |
22.11.2005 |
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Name : |
Mrs. Rashmi Khurana |
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Designation : |
Director |
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Address : |
W 105, Greater Kailash Part I, New Delhi 110048, India |
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Date of Appointment : |
22.11.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Veneet Khurana |
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5000 |
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Rashmi Khurana |
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5000 |
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Total |
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10000 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
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BUSINESS DETAILS
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Line of Business : |
Manufacturers and exporters of India spices, botanical herbs, herbal
extracts |
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Products : |
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Exports : |
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Countries : |
USA, Canada, Europe, Australia, Africa, South America and host of
South-East Asian Countries |
GENERAL
INFORMATION
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No. of Employees : |
About 25 |
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Bankers : |
Indian Overseas Bank R. K. Puram Branch, R. K. Puram, New Delhi 110066, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sharma Jain and Company Chartered Accountants |
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Address : |
118-B, Munish Plaza, 20 Ansari Road Daryaganj, New Delhi 110002,
India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,000 |
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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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[0.013] |
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NETWORTH |
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0.087 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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0.087 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Cash & Bank Balances |
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0.057 |
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Total
Current Assets |
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0.057 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.005 |
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Provisions |
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Total
Current Liabilities |
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0.005 |
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Net Current Assets |
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0.052 |
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MISCELLANEOUS EXPENSES |
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0.035 |
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TOTAL |
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0.087 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover |
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0.000 |
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Profit/(Loss) Before Tax |
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[0.013] |
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Provision for Taxation |
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-- |
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Profit/(Loss) After Tax |
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[0.013] |
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Expenditures : |
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Total Expenditure |
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0.013 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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[22.81] |
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Return on Investment (ROI) (PBT/Networth) |
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[0.15] |
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Debt Equity Ratio (Total Liability/Networth) |
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0.06 |
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Current Ratio (Current Asset/Current Liability) |
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11.40 |
LOCAL AGENCY
FURTHER INFORMATION
BANKERS CHARGES
REPORT AS PER REGISTRY
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This form is for |
Modification of
charge |
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Charge
identification number of the charge to be modified |
10044162 |
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Corporate
identity number of the company |
U51909DL2005PTC142791 |
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Name of the
company |
GREEN EARTH PRODUCTS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
W 105, Khuranas, Greater Kailash, Part I, New Delhi 110048 |
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Type of charge |
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Particular of
charge holder |
Indian Overseas Bank R. K. Puram Branch, R. K. Puram, New Delhi 110066, India |
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Nature of
description of the instrument creating or modifying the charge |
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Date of
instrument Creating the charge |
13.06.2007 |
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Amount secured by
the charge |
Rs. 13.300
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest as per
loan agreements an bank norms Terms of
repayment Repayment as per
bank norms Margin Margin as per
bank norms Extent operation
of the charge The charge
operates as continuing security inter alia, for the due repayment by the
company to the bank to the extent of Rs. 13.300 Millions together with interest,
additional interest, liquidated damages, premia on repayment costs, charges,
expenses and all other money payable by the company to the Bank in terms of
the loan agreements and bank norms form time to time. Property in Col. 14 is
hypothecated inter alia to the bank as and by way of first charge. Others Hypothecation of
stocks, hypothecation of machineries present and future and documents of
title to goods / accepted hundies E. M. of leas hold land and purposed supers
structure at sikar is to secure the PCL of Rs. 5.500 Millions FDDBP / FUBD
under LC / NLC limit of Rs. 3.000 Millions an term loan of Rs. 4.800 millions
aggregating to Rs. 13.300 Millions sanctioned to the company. |
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Short particulars
of the property charged |
Hypothecation of
stocks, hypothecation of machineries present and future and documents of
title to goods / accepted hundies E. M. of leas hold land and purposed supers
structure at sikar is to secure the PCL of Rs. 5.500 Millions FDDBP / FUBD
under LC / NLC limit of Rs. 3.000 Millions an term loan of Rs. 4.800 millions
aggregating to Rs. 13.300 Millions sanctioned to the company. |
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Date of latest
modification prior to the present modification |
12.06.2007 |
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Particulars of
the present modification |
The charge for Rs.
13.300 millions is also secured by equitable mortgage of leasehold land and
proposed super structure at Sikar. Other terms and conditions remain same. |
AS PER WEBSITE
Green Earth Products is a premier manufacturer, exporter and supplier of
quality herbs, botanicals, spices & bakery products from India.
Since its inception, 22 years ago, the company has been successfully exporting
its range of herbs, botanicals, spices & bakery products to countries all
over the world. The company has the capacity to source more than 5000 products
from various geographical areas of India, including the Himalayan mountain
range. India has been in the forefront of the export of ancient herbs, spices
and botanicals since 2000 BC. The products exported by the company are
multi-dimensional and a have myriad of uses & applications.
The company specializes in thorough understanding of exotic Indian herbs,
botanicals and their source of origin. Sourced from all over India, these herbs
are then extensively sifted and cleaned under the watchful eyes of the
company's quality control managers. They are then packed as per the
specifications of the customers and shipped to the concerned destinations. At
present the company's products have found a great demand in the markets of USA,
Canada, Europe, Australia, Africa and a host of South East Asian countries.
All the efforts of the company to ensure excellent quality products for their
customers has enabled them to build long lasting business relationships with
their clients all over the globe.
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 Intl
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 companys 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.39.32 |
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UK Pound |
1 |
Rs.81.35 |
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Euro |
1 |
Rs.56.75 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
1 |
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--CREDIT LINES |
1~10 |
1 |
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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 |
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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15 |
This score serves as a reference to assess SCs 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. |
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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