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MIRA
INFORM REPORT
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Report Date : |
16.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
TASTEL FINE FOOD (PRIVATE) LIMITED |
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Registered Office : |
313/40, Siddharth Nagar, Road no.3 Goregaon (West), Mumbai – 400104,
Maharashtra |
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Country : |
India |
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Date of Incorporation : |
07.02.2006 |
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Com. Reg. No.: |
159550 |
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CIN No.: [Company
Identification No.] |
U15100MH2006PTC159550 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMT12903C |
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PAN No.: [Permanent
Account No.] |
AACCT4100H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Exporter of Ambient and
Frozen Indian Foods |
RATING &
COMMENTS
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MIRA’s 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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company having no track. Directors and promoters are traders
of food products. The company is not much known in it’s field. No payment
records are available. The company can be considered for any business dealings on safe and
secured trade terms and conditions, initially. If more details are made available, it will follow, soon. |
LOCATIONS
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Registered Office : |
313/40,Siddharth Nagar, Road no.3 Goregaon (West), Mumbai – 400104,
Maharashtra, India |
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Tel. No.: |
91-22-28794426 /28794427 |
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Fax No.: |
91-22-28794425 |
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E-Mail : |
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Website : |
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Factory 1 : |
102, Walkhed, Nasik ,Maharashtra
, India |
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Tel. No.: |
91-25-57222935 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Ajaykumar Omprakash Talwar |
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Designation : |
Director |
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Address : |
802/A, Vastu Pooja, R. Jijabai Marg, Andheri [East], Mumbai – 400093,
Maharashtra, India |
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Date of Birth/Age : |
14.04.1964 |
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Date of Appointment : |
07.02.2006 |
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Name : |
Mr. Ashoo Ajaykumar Talwar |
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Designation : |
Director |
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Address : |
802/A, Vastu Pooja, R. Jijabai Marg, Andheri [East], Mumbai – 400093,
Maharashtra, India |
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Date of Appointment : |
07.02.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Mr. Ajaykumar Omprakash Talwar |
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5000 |
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Mr. Ashoo Ajaykumar Talwar |
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5000 |
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Total |
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10000 |
BUSINESS DETAILS
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Line of Business : |
Exporter of Ambient and
Frozen Indian Foods |
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Products : |
FROZEN : Indian Naan Breads , Parathas ,
Snacks, Ready to Eat Fish Meals, Fruits and Vegetables etc. AMBIENT : Ready to Eat
Meals. Snacks, Condiments, Sauces, Pastes etc. |
GENERAL
INFORMATION
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Bankers : |
Bank of India, Ramdas Nayak Marg, Bandra Branch, Mumbai – 400050,
Maharashtra, India |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
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]
No financials are available since it is a new company.
Management remained non-cooperative during current investigation.
However, efforts are made to obtain more details.
LOCAL AGENCY
FURTHER INFORMATION
The Registered Office of the company has been shifted from 2 Veena Vihar Dayal Das Road, Vile Parle,
Mumbai – 400057, Maharashtra, India to the present address w.e.f. 23.06.2007
Bankers Charges
Report as per Registry
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This form is for |
Creation of charge
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Corporate
identity number of the company |
U15100MH2006PTC159550 |
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Name of the
company |
TASTEL FINE FOOD (PRIVATE) LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
2 Veena Vihar Dayal
Das Road, Vile Parle, Mumbai – 400057, Maharashtra, India |
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Type of charge |
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Particular of
charge holder |
Bank of India R. N. Marg
Branch, Bandra [West],
Mumbai – 400050, Maharashtra, India |
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Nature of
description of the instrument creating or modifying the charge |
Hypothecation cum
loan agreement [Plant and Machinery, Stock and Book debts] |
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Date of instrument
Creating the charge |
15.05.2007 |
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Amount secured by
the charge |
Rs. 50.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
Term Loan : 0.75 % over PLR Minimum 14 % p.a. and in case of EPC [FBP/FBN]
9.75 % up to 180 days [90 days] and 13.50 for period above 180 days [90 days]
upto 270 days [180 days] Commission etc on Inland Guarantee is as per extant
guidelines. Terms of
repayment Term Loan : 16
Quarterly installments of Rs. 1.250 Millions commencing 6 months after first
disbursement. Margin Term Loan : 34 %
EPC : 10 % and in case of all other facilities 5 % Extent operation
of the charge Extent of charge not
to exceed Maximum amount of Rs. 50 Millions being aggregate fund based and
non fund based limits thus ; FB : Term Loan : 200 + EPC : 300 + FBP / FBN :
300 = 500 Inland Guarantee : 100 + L/C [DA /DP 90 days] : 100 = 100 [Maximum
NFB] total FB + NFB i.e. 500 + 100 = 500 [Maximum] Import L/C 50 is linked to
term loan and all in all aggregate is Rs. 50 Millions |
AS PER WEBSITE
Subject offer specialized blends and seasonings for Curries, Sauces and Pastes in Roasted and Ground form. Condiments like Onions, Tamarind, Ginger, Garlic, Green Chilli, Red Chilli etc. in wet processed form can be produced as per the specifications .
They pride themselves in conceptualizing NEW PRODUCT DEVELOPMENT with the final consumer in focus and thrive for excellence in any project they undertake. All their products are designed with Quality Outsourcing of Key Ingredients, which represents their commitment for keeping flavours intact consistently.
They pro-actively work in the International Market to understand Indian Taste Preferences and providing Nutritional Awareness across.
Vision
Indian Food Made Easy, Standardize, Simplify and Brand Indian Food Worldwide.
Mission
To provide dedicated pro-active service to customers world wide and thrive to achieve qualitative growth in Indian Food Exports.
The Cuisine of India is very diverse and is a result of India's diverse population. Over the centuries, each new wave of settlers brought with them their own culinary practices, which, over time, blended into the Indian cuisine, as it is known today.
India's history of a flourishing spice trade is reflected in the countries cuisine, renowned for its clever blend of exotic spices and exotic herbs. The best Indian dishes are a swirl of textures and flavours; mysteriously fiery yet beautifully subtle and today Indian food is celebrated as one of the world's fastest growing and most varied cusines.
Spices are a basic part of any Indian food. The key to successful Indian cooking lies in the art of blending spices, rather than sophisticated cooking techniques. Spices add zest to food, enhance the taste and delight the gourmet.
Spices can be divided into two main groups: Those that are integrated into a dish by the end of cooking process and those that are removed. The spices in the first group add taste, texture and colour to the food. Different combinations are used and no single spice is allowed to dominate the final flavour. Spices in this group include Coriander, Cumin, Turmeric and Garam Masala.
The second group of spices add aroma to the dish. They remain identifiable at the end of cooking, as most of them are used as whole. Once these spices have released their aroma their function is complete and they are not eaten, but removed from the dish before serving. Examples of this type are whole cloves, cardamom pods, cinnamon sticks, and bay leaves.
Spices are even used as preservatives, aphrodisiacs and in traditional medicines . Ancient Ayurvedic texts prescribe the herbs and spices for curative and therapeutic functions. Ayurvedic scripts dating back to 3000 years, list the preventive and curative properties of various spices
The role of spices beyond cooking
Curative Properties : An Indian cook has learnt to use this knowledge and weave them into everyday dishes. Ginger prevents dyspepsia, garlic reduces cholesterol and hypertension and fenugreek is a good resistance builder and with pepper often serve as antihistamines, turmeric is used for stomach ulcers and for glow of the skin.
Preserving Foods : Spices have been used to make the food last longer in the days when refrigeration was absent.
Aiding Digestion : India substitutes for the western after dinner mint are fragrant spices such as fennel, cardamom or cloves. Effective mouth fresheners, they aid digestion, prevent heartburn and curb nausea. Others such as asafetida and ginger root, have been known to counteract flatulence and colic, and are added to lentils, a must with every Indian meal.
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.39.29 |
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UK Pound |
1 |
Rs.80.72 |
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Euro |
1 |
Rs.57.67 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
s2 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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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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18 |
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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