MIRA
INFORM REPORT
|
Report Date : |
28.11.2007 |
IDENTIFICATION
DETAILS
|
Name : |
A K BAKELITE AND RESINS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
H. No.1, Nishant Kunj, Pitam Pura, New Delhi – 110034 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
13.01.2005 |
|
|
|
|
Com. Reg. No.: |
55-132098 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24119DL2005PTC132098 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELA19969F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAFCA1762M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers, Exporters and Suppliers
of Bakelite Powder, Urea And Melamine Formaldehyde – Moulding Compound and
Phenolic Resins. |
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 400 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small and unknown company. No trade relations or payments
record behaviors are known. It would be advisable to deal with the company on
fully safe and secured trade terms and conditions, initially. |
LOCATIONS
|
Registered Office : |
H. No.1, Nishant Kunj, Pitam Pura, New Delhi – 110034, India |
|
Tel. No.: |
91-11-27353006 |
|
Mobile No.: |
91-9811048152 |
|
Fax No.: |
91-11-65194694 |
DIRECTORS
|
Name : |
Mr. Amit Kheria |
|
Designation : |
Director |
|
Address : |
H. No. 1, Nishant Kunj, Pitampura, Delhi – 110034 |
|
Date of Appointment : |
13.01.2005 |
|
|
|
|
Name : |
Mr. Vijay Kheria |
|
Designation : |
Director |
|
Address : |
H. No. 1, Nishant Kunj, Pitampura, Delhi – 110034 |
|
Date of Appointment : |
13.01.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Amit Kheria |
|
5000 |
|
Mr. Vijay Kheria |
|
5000 |
|
Category |
|
Percentage of
Holding |
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Exporters and
Suppliers of Bakelite Powder, Urea And Melamine Formaldehyde – Moulding Compound
and Phenolic Resins. |
GENERAL
INFORMATION
|
Bankers : |
Ř
Oriental
Bank of Commerce 31, Milestone,
G.T. Road, Kundli, Sonepat – 131028, Haryana E-Mail: kgsharma_fca@yahoo.co.in Ř State Bank of India |
|
|
|
|
|
|
|
Banking
Relations : |
Unknown |
|
|
|
|
Auditors : |
|
|
Name : |
Krishan Gopal Sharma and Company Chartered Accountants |
|
Address : |
201, Anupam Bhavan, Azadpur Commercial Complex, Delhi - 11003 |
|
Tel : |
91-11-27675428 / 27682673 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 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 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
0.100 |
0.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.200 |
0.200 |
|
|
TOTAL BORROWING |
|
0.288 |
0.200 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
0.388 |
0.300 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.343 |
0.267 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
|
0.020 |
0.013 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
0.020 |
0.013 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
0.000 |
0.000 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
0.000 |
0.000 |
|
|
Net Current Assets |
|
0.020 |
0.013 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.025 |
0.018 |
|
|
|
|
|
|
|
|
TOTAL |
|
0.388 |
0.300 |
|
Note: There were no business activities during the
financial year ending 31.03.2006 and 31.03.2005. Hence, Profit and Loss Account has not been drawn.
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.20 |
0.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.00 |
0.00 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
|
Corporate
identity number (CIN) Foreign company registration number |
U24119DL2005PTC132098 |
|
Name of the
Company |
A K BAKELITE AND RESINS PRIVATE LIMITED |
|
Address |
H. No.1, Nishant Kunj, Pitam Pura, New Delhi – 110034 |
|
This form is for |
Creation of the
charges |
|
Type of Charge |
Hypothecation and
Equitable mortgage or mortgage of property by depositing the title deeds |
|
Particulars of
the charge holder |
Oriental Bank of
Commerce 31, Milestone,
G.T. Road, Kundli, Sonepat – 131028, Haryana E-Mail: kgsharma_fca@yahoo.co.in |
|
Amount secured by
the charge |
Rs.3.700 millions |
|
Brief of the
principal terms and conditions |
Rate of Interest: 11.50%p.a. Margin: 25% Description of
the instrument creating or evidencing the charge: Agreement of
hypothecation of assets Date of
Acquisition of the property: 31.05.2006 |
|
Description of the
property charged indicating |
Immovable
Properties, Plant and Machinery, Book Debts, Stock in Trade and Furniture and Fixtures Particular of the
property charged A.K. Bakelite and
Resins Private Limited Piau Maniyari,
Narela Road, Kundi, Disst. Sonepat, Haryana |
|
Date of
Instrument creating charge |
31.05.2006 |
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.85 |
|
UK Pound |
1 |
Rs.82.61 |
|
Euro |
1 |
Rs.59.21 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
20 |
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. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|