MIRA
INFORM REPORT
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Report Date : |
02.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
PONNMONEY MARKETING PRIVATE LIMITED |
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Registered Office : |
4, Railway Colony, First Street, Mehta Nagar, Chennai - 600 029, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
25.09.2000 |
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Com. Reg. No.: |
18-45801 |
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CIN No.: [Company
Identification No.] |
U29308TN2000PTC045801 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEP02684D |
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Legal Form : |
Private limited liability company |
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Line of Business : |
Traders in Household Articles like TVs, Washing Machines. |
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 : |
UDS 10000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having satisfactory track. Directors are reported as experienced, respectable and having satisfactory means of their own. Their trade relations are reported as fair. Payments are reported as 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 / Corporate Office / Warehouse : |
4, Railway Colony, First Street, Mehta Nagar, Chennai - 600 029, Tamilnadu, India |
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Tel. No.: |
91-44-23742883/ 3742885 / 23742887 |
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Mobile No.: |
91-9884242440 |
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Fax No.: |
91-44-23742208 |
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E-Mail : |
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Website : |
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DIRECTORS
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Name |
Mr. Selvi Mary C |
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Designation |
Director |
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Address |
9, Raghavan Street, Chennai – 600094, Tamilnadu |
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Date of
Appointment : |
25.04.2000 |
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Name |
Mr. Mary Seleen Bai |
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Designation |
Director |
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Address |
9, First Lane, Parry Street, Chennai - 600 094, Tamilnadu |
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Date of
Appointment : |
25.04.2000 |
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Name |
Mr. Helen Latha Bai |
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Designation |
Director |
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Address |
3, Kamaraj Nagar, First Street, Gill Nagar, Chennai -600094, Tamilnadu |
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Date of
Appointment : |
25.04.2000 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Mr. Selvi Mary C |
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10000 |
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Mr. Mary Seleen Bai |
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10000 |
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Mr. Helen Latha Bai |
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10000 |
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Mr. Jancy David |
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10000 |
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Mr. V. F. Soundararajan |
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10000 |
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Mr. P. George |
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10000 |
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BUSINESS DETAILS
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Line of Business : |
Traders in Household Articles like TVs, Washing Machines. |
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Products : |
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Brand Names : |
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Agencies Held : |
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GENERAL
INFORMATION
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No. of Employees : |
Around 30 |
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Bankers : |
v Bank of Baroda, Choolaimedu, Chennai-600094, Tamilnadu, India v The Repartriates Co-operative Finance and Development Bank Limited 33, North Usman Road, T. Nagar, Chennai - 600 017, Tamilnadu, India v The Catholic Syrian Bank Limited
Citi Bank |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Gayathri and Company Chartered Accountants |
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Address : |
217 [New No. 234], Thambu Chetty Street, Chennai - 600
001, Tamilnadu |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1,00,000 |
Equity Shares |
Rs.10/- |
Rs. 1.000 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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60,000 |
Equity Shares |
Rs.10/- |
Rs. 0.600 million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
Note :
No further financial details could be available from any source.
Management remained non-cooperative during current investigation.
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS
FUNDS |
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1] Share Capital |
0.600 |
0.600 |
0.600 |
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2] Reserves &
Surplus |
2.106 |
1.538 |
0.951 |
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NETWORTH
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2.706 |
2.138 |
1.551 |
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LOAN FUNDS |
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1] Secured Loans |
20.455 |
2.194 |
6.452 |
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2] Unsecured
Loans |
4.545 |
8.595 |
8.025 |
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TOTAL BORROWING
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25.000 |
10.789 |
14.477 |
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TOTAL
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27.706 |
12.927 |
16.028 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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2.339 |
2.466 |
0.816 |
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Capital work-in-progress
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0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS &
ADVANCES
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Inventories
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17.181 |
14.324
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Sundry Debtors
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25.111 |
22.818
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51.699
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Cash & Bank Balances
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0.224 |
1.350
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Loans & Advances
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4.148 |
0.673
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Total Current Assets
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46.664 |
39.165 |
51.699
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Less :
CURRENT LIABILITIES & PROVISIONS
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Current
Liabilities |
20.995
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28.370 |
36.517
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Provisions |
0.325
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0.360 |
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Total Current Liabilities
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21.320 |
28.730 |
36.517
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Net Current Assets
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25.344 |
10.435 |
15.182
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MISCELLANEOUS EXPENSES
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0.023 |
0.026 |
0.030 |
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TOTAL
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27.706 |
12.927 |
16.028 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
Sales Turnover [including other
income]
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247.264 |
267.333 |
285.902 |
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Profit/(Loss) Before Tax
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0.893 |
0.987 |
0.937 |
Provision for Taxation
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0.325 |
0.360 |
0.350 |
Profit/(Loss) After Tax
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0.568 |
0.627 |
0.587 |
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Expenditure
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246.372 |
266.346 |
NA |
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KEY RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
31.03.2003 |
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PAT / Total Income |
(%) |
0.23 |
0.23 |
0.20
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Net Profit Margin (PBT/Sales) |
(%) |
0.36 |
0.37 |
0.32
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.82 |
2.37 |
1.78
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Return on Investment (ROI) (PBT/Networth) |
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0.33 |
0.46 |
0.60
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Debt Equity Ratio (Total Liability/Networth) |
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17.12 |
18.48 |
33.88
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Current Ratio (Current Asset/Current Liability) |
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2.19 |
1.36 |
1.41
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LOCAL AGENCY
FURTHER INFORMATION
Fixed
Assets
v Land and Building
v Furniture and
Fixture
v Computer
v Telecom Equipment
v Electrical
Fittings
v Cycle
v Air Conditioner
v Fridge
v Tata Truck
v Generator
Operation:
During the year under report, the company earned a profit of Rs. 0.893
millions after providing Depreciation but before Provision for Taxation.
The directors are confident that during the year 2005-06 the company
will be in a position to maintain the
same growth rate.
Form 8 Particular for
creation or modification of charges
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Corporation identity number or foreign
company registrations number of the company
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U29308TN2000PTC045801 |
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Name of the company |
PONNMONEY MARKETING PRIVATE LIMITED |
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Address |
4, Railway Colony, First Street, Mehta Nagar, Chennai - 600 029,
Tamilnadu, India |
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This Form is for |
Modification of charge |
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Type of Charges |
Hypothecation |
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Particular of the charge holder |
Bank of Baroda, Choolaimedu,
Chennai-600094, Tamilnadu, India |
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Amount Secure by the charge |
Rs. 18.500 Millions |
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Brief of the principal terms and
conditions and extent and operation of the charge |
Hypothecation of goods and Hypothecation
of Book debts on 25.06.2004 |
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Description of the property charge whether
it is a charge on |
Stock in trade and Book Debts |
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Modification charge Charge identification number of the charge
to be modified |
90287919 |
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Date of instrument modifying the charge |
02.08.2006 |
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Particulars of the Property charged |
Hypothecation of goods and Hypothecation of Book Debts |
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Name of the company |
Ponnmoney Marketing Private Limited |
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Presented By |
Bank of Baroda, Choolaimedu Branch |
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1) Date and description of instrument creating the change |
Hypothecation of Goods dated 16.03.2005 Hypothecation of Book Debts
dated 16.03.2005 |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Bank of Baroda, Choolaimedu Branch, Chennai 94, total working capital limit
Rs. 15.000 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 goods and Hypothecation of Book debts |
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4) Gist of the terms and conditions and extent and operation of the
charge. |
Interest 3 % over BPLR rate 25 % margin on Stock 40 % margin on Book debts |
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5) Name and Address and description of the person entitled to the
charge. |
Bank of Baroda, Choolaimedu, Chennai-600094,
Tamilnadu, India |
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6) Date and brief description
of instrument modifying the charge |
19.07.2005 Hypothecation of goods and Book debts |
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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. |
Rs. 15.000 Millions CC limit decreased to 12.500 millions DAUE sub
limit Rs. 1.000 millions Interest @
0.5 % over Branch prime lending rate |
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Name of the company |
Ponnmoney Marketing Private Limited |
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Presented By |
Bank of Baroda, Choolaimedu Branch |
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1) Date and description of instrument creating the change |
Hypothecation of Goods dated 25.06.2004 Hypothecation of Book Debts
dated 25.06.2004 |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Bank of Baroda, Choolaimedu Branch, Chennai 94, total working capital
limit Rs. 10.000 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 goods and Hypothecation of Book debts |
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4) Gist of the terms and conditions and extent and operation of the
charge. |
Interest 12.5 % per annum with monthly
rest 25 % margin on Stock 40 % margin on Book debts |
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5) Name and Address and description of the person entitled to the
charge. |
Bank of Baroda, Choolaimedu,
Chennai-600094, Tamilnadu, India |
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6) Date and brief description
of instrument modifying the charge |
16.03.2005 Hypothecation of Stock and Book debts letter of continuing security |
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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. |
Rs. 10.000 Millions CC limit decreased to
15.000 millions Interest 3 % over BPLR minimum 13.5 % 25 % margin on Stock 40 % margin on Book debts |
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.39.32 |
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UK Pound |
1 |
Rs.81.82 |
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Euro |
1 |
Rs.56.90 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
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PAID-UP CAPITAL |
1~10 |
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OPERATING SCALE |
1~10 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
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--PROFITABILIRY |
1~10 |
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--LIQUIDITY |
1~10 |
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--LEVERAGE |
1~10 |
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--RESERVES |
1~10 |
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--CREDIT LINES |
1~10 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
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--LITIGATION |
YES/NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
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--EXPORT ACTIVITIES |
YES/NO |
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--AFFILIATION |
YES/NO |
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--LISTED |
YES/NO |
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--OTHER MERIT FACTORS |
YES/NO |
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TOTAL |
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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. |
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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