MIRA
INFORM REPORT
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Report Date : |
03.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
LIPI BOILERS LIMITED |
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Registered Office : |
Mahendra chambers, May Fair A , 4 Dhole Patil Road, Pune – 411 001,
Maharashtra |
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Country : |
India |
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Date of Incorporation : |
11.09.1974 |
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Com. Reg. No.: |
17766 |
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CIN No.: [Company
Identification No.] |
U28131MH1974PLC017766 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEL00118G |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Industrial boilers and accessories and
auxillary plants. |
RATING &
COMMENTS
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MIRA’s Rating : |
NR |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
---- |
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Status : |
--- |
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Payment Behaviour : |
--- |
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Litigation : |
--- |
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Comments : |
Subject appears to be poor in corporate governance since no financials
are available from Registry. The company is an old established and enjoy favorable reputation. In absence of financials it would be difficult to assess company’s
performance and financial status. There is no possibility of getting financial details unless and until
management part it. In view of the aforesaid, it would be difficult to determine the
credit rating. |
LOCATIONS
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Registered Office : |
Mahendra chambers, May Fair A , 4 Dhole Patil Road, Pune – 411 001,
Maharashtra |
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Tel. No.: |
91-20-32900293 /94 |
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Mobile No.: |
91-9890991961 |
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Fax No.: |
91-20-26165947 |
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E-Mail : |
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Area : |
10500 sq.fts |
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Location : |
Owned |
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Head Office: |
Saket, New Delhi |
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Area : |
500 sq.fts |
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Location : |
Owned |
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Factory: |
E -5, Industrial Area, Chikhalthana, Aurangabad – 431 210, Maharashtra
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Tel. No.: |
91-240-2482697 / 98 |
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Area : |
12000 sq.mtrs |
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Location : |
Leased |
DIRECTORS
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Name : |
Mr. Rajkumar Adlakha |
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Designation : |
Director |
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Date of Birth/Age : |
50 years |
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Qualification : |
B E Mechanical |
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Name : |
Mr. V K Ghuliani |
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Designation : |
Director |
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Date of Birth/Age : |
64 years |
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Qualification : |
B E Mechanical |
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Name : |
Mrs. Amita Adlakha |
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Designation : |
Director |
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Date of Birth/Age : |
46 years |
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Qualification : |
Chartered Accountants |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Rajkumar Adlakha |
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1177500 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Industrial boilers and accessories and
auxillary plants. |
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Exports : |
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Products : |
All products |
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Countries : |
Africa |
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Imports : |
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Products : |
Steel Materials |
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Countries : |
China, Germany |
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Terms : |
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Selling : |
L/C, Cash, Credit ( 30 days) |
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Purchasing : |
L/C, Cash, Credit (30- 45 days) |
GENERAL
INFORMATION
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Customers : |
OEM’s |
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No. of Employees : |
150 |
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Bankers : |
Indian Overseas Bank Address; Pune Cantonment Branch, Wonderland Building, M G Road, Pune
-1 |
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
K. Kumar and Associates Chartered Accountants |
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Address : |
Ghaziabad |
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Tel. No.: |
91-20-2790426 / 2797683 |
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Mobile No.: |
91-9811077916 |
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Associates/Subsidiaries : |
Lipi Consultants Address: Mahendra chambers, May Fair A , 4 Dhole Patil Road, Pune –
411 001, Maharashtra Activity: Erection of plants, etc. |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5200000 |
Equity shares |
Rs. 10/- each |
Rs. 52.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4350000 |
Equity shares |
Rs.10/- each |
Rs. 43.500
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
Financials:
No financials of
the company could be available from registry. No documents are available since
incorporation of the company.
Management
remained non – co-operative during current investigation.
Hence, the report is
based on indirect sources of information.
PROFIT & LOSS
ACCOUNT
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover (approximately) |
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350.000 |
150.000 |
Expected Sales (2007-08): Rs.400.000 millions
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCE:
· Marinagar Sugar Mills Limited, Bihar
· Renuka Sugar Mills Limited, Belgaum, Karnataka
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 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.39.37 |
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UK Pound |
1 |
Rs.81.82 |
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Euro |
1 |
Rs.56.83 |
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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