MIRA
INFORM REPORT
|
Report Date : |
15.10.2007 |
IDENTIFICATION DETAILS
|
Name : |
FAM INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
E – 205, Flatted Factory Complex,
Okhla Industrial Estate, Phase –
III, Near Modi Mill, New Delhi – 110 020 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2005 |
|
|
|
|
Date of Incorporation : |
1982 |
|
|
|
|
Com. Reg. No.: |
14625 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1987PTC014625 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Automatic Dippers Device. |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Maximum Credit Limit : |
---- |
|
|
|
|
Status : |
Poor |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small and unknown company. It has no track of performance
and financial status. It can be considered for any business dealings on safe and secured
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
E – 205, Flatted Factory Complex,
Okhla Industrial Estate, Phase
– III, Near Modi Mill, New Delhi – 110 020, India |
|
Tel. No.: |
91-11-41802086 / 30888499 / 66625399 |
|
Fax No.: |
91-11-30888499 / 41802086 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Vijay K Bhairma |
|
Designation : |
Director |
|
Address : |
86, Pockete Mayur Vihar, |
|
Date of Appointment : |
05.11.1987 |
|
|
|
|
Name : |
Mrs. Neena Bhairma |
|
Designation : |
Director |
|
Address : |
86, Pockete Mayur Vihar, |
|
Date of Appointment : |
01.07.1986 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Equity Share Break – up (Percentage of Total Equity)
|
Sr.
No. |
Category |
Percentage |
|
1 |
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Automatic Dippers Device. |
|
|
|
|
Products: |
·
Auto Dip Head Lamps to Low Beams ·
Automobile Headlamp Dimmer/Controls ·
Traffic Glairs Controllers ·
Light Sensors ·
Roadways Safety Products ·
Highly sophisticated Electronic cum Electrical
device for Aircrafts. ·
Automatic dippers (Autodip) for LMV/HMV |
GENERAL INFORMATION
|
No. of Employees : |
5 |
|
|
|
|
Bankers : |
NA |
|
|
|
|
Banking
Relations : |
Unknown |
|
|
|
|
Auditors : |
|
|
Name : |
AVK and Associates Chartered Accountants |
|
Address : |
101-108, Sewak Cember, 2099 / 38, Naiwala, Karol Bagh, |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000 |
Equity shares |
Rs.100/- each |
Rs.1.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2770 |
Equity shares |
Rs.100/-
each |
Rs.0.277
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.277 |
0.277 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
[0.359] |
[0.327] |
|
|
NETWORTH |
|
[0.082] |
[0.050] |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
[0.082] |
[0.050] |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.147 |
0.189 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.446 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
0.091 |
0.029 |
|
|
Cash & Bank Balances |
|
0.031 |
0.025 |
|
|
Other Current Assets |
|
0.009 |
0.005 |
|
|
Loans & Advances |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
0.131 |
0.059 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
0.806 |
0.298 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
0.806 |
0.298 |
|
|
Net Current Assets |
|
[0.675] |
[0.239] |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
|
[0.082] |
[0.050] |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
|
31.03.2005 |
|
Sales Turnover |
|
|
0.500 |
|
Other Income |
|
|
0.000 |
|
Total Income |
|
|
0.500 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2005 |
31.03.2004 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
[9.82] |
[5.96] |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.16 |
0.19 |
LOCAL AGENCY FURTHER INFORMATION
WEBSITE DETAILS:
Subject have manufactured and patented the first ever (Autodip)
Automatic dipper Device in India which has been certified and cleared by the
Ministry of Commerce and Industry, Ministry of Communication and Technology and
Ministry of Small Scale Industries, Govt. of India."
The company is a manufacturer and exporter of Automatic Dippers Device under
the Brand of Autodip to keep the Head Lamps (High Beams) of an automobile
(Vehicle) to Low Beams automatically. Thus protecting the driving person from
Sharp High Beam Glairs. Automobile Headlamp Dimmer/Controls, Control Glairs,
Light Sensors, Roadways Safety Products, Also highly sophisticated state of the
art Autodip device for Aircrafts of all kinds.
Established in the year 1982, they have come a long way to
register a place for their selves in the market of safety devices. Most of the
accidents happens at night are due to the failure of dippers owing to gross
negligence on part of the driving person. The sharp glairs of high beams causes
in poor visibility and shatters human brain for a moment resulting in fatal
accidents. Their Autodip device brings down the chances of such major accidents
by way off keeping the high beams very much under the control and that to
within a fraction of seconds.
Company profile:
Manufacturer AND exporter, service provider of automatic
dippers device under the brand of auto dip to keep the head lamps (high beams)
of an automobile (vehicle) to low beams automatically. high beam glares. also
highly sophisticated state of the art auto dip device for aircrafts, automobile
safety equipments, automatic dippers for all kinds of automobiles, auto dip
head lamps to low beams, automobile headlamp dimmer/ controls, traffic glares
controllers, light sensors, roadways safety products, automatic dippers, auto dip
head lamps, auto dipper, auto dip, roadway, traffic safety AND management,
press release, highly sophisticated electronic cum electrical device for
aircrafts, automatic dippers (auto dip) for lmv/ hmv.
What is an Autodip
and how does it work?
Autodip is a highly sophisticated electronic device that
switches headlights of the vehicle to Dipper Mode ( Low Beam) automatically
when the sharp High beam lights of an oncoming vehicle falls on the windscreen
and it switches back from Dipper Mode (Low Beam) to main beam (High Beam)
automatically once the oncoming vehicle passes off and vice versa and it all
happens within a fraction of seconds. Its not all but there’s lot more to it.
Autodip also keeps high beams under control automatically in well lit city
streets & at all Red Light halts keeping in view of no undue inconvenience
to the Traffic Police officials manning the traffic.
Automatic Dippers for all kinds of Automobiles
·
Auto Dip Head Lamps to Low Beams
·
Automobile Headlamp Dimmer/Controls
·
Traffic Glairs Controllers
·
Light Sensors
·
Roadways Safety Products
·
Highly sophisticated Electronic cum Electrical
device for Aircrafts.
·
Automatic dippers (Autodip) for LMV/HMV
Quality Assurance
Dealing with vehicle safety devices, they have to keep their
quality standards optimum. They leave no margin for error. Their products are
manufactured under the strict quality assurance methods and as per the
international standards. All their products have to pass through stringent
quality checks. They use the latest technology in the production process above
all key factor remains the human brains at large. They boast of having a good
recognition in the market for their quality products and have always satisfied
the various testing and R&D departments of Govt. of India.
Infrastructure
They have two production lines of international standard and
use cutting edge technology in the manufacturing process. They conduct their
operations with honesty and integrity and concentrate on human resource
development. They maintain a very healthy working environment and encourage
interaction among their employees as they believe that it results in innovative
ideas that makes their business better Here again the Spirit of Innovation and
Hardwork remains the key factor.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.39.31 |
|
|
1 |
Rs.79.95 |
|
Euro |
1 |
Rs.55.71 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
--- |
|
--PROFITABILIRY |
1~10 |
--- |
|
--LIQUIDITY |
1~10 |
--- |
|
--LEVERAGE |
1~10 |
--- |
|
--RESERVES |
1~10 |
--- |
|
--CREDIT LINES |
1~10 |
--- |
|
--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 |
|
6 |
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/normal. |
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 |
|