MIRA
INFORM REPORT
|
Report Date : |
12.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
K K FIBERS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
B-18/3, Okhla Industrial Area, Phase – II, New Delhi – 110020 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
25.11.2005 |
|
|
|
|
Com. Reg. No.: |
55-143008 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U17231DL2005PTC143008 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELK09233A |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCK7763M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
To manufacture, buy, sell, market, export, import, produce and deal in
threads, yarns, cords of cotton, wool, silk, nylon terylene, acrylic, rayon,
Dacron, cellulose flex, hemp, jute and other natural and fibres of synthetic
or any other origins. |
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 120000 |
|
|
|
|
Status : |
New Company |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new company and has incurred some initial pre-operative
expenses. The company has been successful in obtaining good amount of
facilities from its banker. No further details could be available. The company can be considered for any business dealings on safe and
secured terms, initially. |
LOCATIONS
|
Registered Office : |
B-18/3, Okhla Industrial Area, Phase – II, New Delhi – 110020 |
|
E-Mail : |
|
|
Tel. No.: |
91-11-26383113 |
|
|
|
|
Factory : |
Rampur Jattan, Kalaam Nanhan Road, Sirmour – 173030, Himachal Pradesh,
India |
DIRECTORS
|
Name : |
Mr. Narider Singh Khanna |
|
Designation : |
Director |
|
Address : |
G-55, Lajpat Nagar – III, New Delhi |
|
Date of Birth/Age : |
03.05.1956 |
|
Date of Appointment : |
25.11.2005 |
|
|
|
|
Name : |
Mr. Anurag Kalra |
|
Designation : |
Director |
|
Address : |
1285, Sector – 28, Faridabad |
|
Date of Birth/Age : |
31.07.1965 |
|
Date of Appointment : |
25.11.2005 |
|
|
|
|
Name : |
Mr. Sourabhdeep Singh Khanna |
|
Designation : |
Director |
|
Address : |
G-55, Lajpat Nagar – III, New Delhi |
|
Date of Birth/Age : |
07.07.1984 |
|
Date of Appointment : |
25.11.2005 |
|
|
|
|
Name : |
Mr. Rajesh Jain |
|
Designation : |
Director |
|
Address : |
152, Arihant Nagar, Punjabi Bagh, New Delhi – 110026, India |
|
Date of Birth/Age : |
01.02.1967 |
|
Date of Appointment : |
01.02.2006 |
|
|
|
|
Name : |
Mr. Umesh Mohan |
|
Designation : |
Director |
|
Address : |
D – 10 GK Enclave – II, New Delhi – 110048, India |
|
Date of Birth/Age : |
05.01.1959 |
|
Date of Appointment : |
01.02.2006 |
|
|
|
|
Name : |
Mr. Jagdish Chander |
|
Designation : |
Director |
|
Address : |
1285, Sector – 28, Faridabad |
|
Date of Appointment : |
25.11.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 31.03.2007
|
Names of Shareholders |
|
No. of Shares |
|
Anurag Kalra |
|
2500 |
|
Narider Singh Khanna |
|
1500 |
|
Sourabhdeep Singh Khanna |
|
1000 |
|
Umesh Mohan |
|
2500 |
|
Rajesh Jain |
|
2500 |
|
Total |
|
10000 |
AS ON 29.09.2007
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To manufacture, buy, sell, market, export, import, produce and deal in
threads, yarns, cords of cotton, wool, silk, nylon terylene, acrylic, rayon,
Dacron, cellulose flex, hemp, jute and other natural and fibres of synthetic
or any other origins. |
GENERAL
INFORMATION
|
Bankers : |
State Bank of India, Commercial Branch, Vardhman Trade Centre, Nehru
Place, New Delhi – 110019, India |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Deepak Gulati and Associates Chartered Accountants |
|
Address : |
23, Hanuman Road, Connaught Place, New Delhi – 110001, India |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 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 |
|
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.100 |
0.100 |
|
|
2] Share Application Money |
|
29.149 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
[0.003] |
|
|
NETWORTH |
|
29.249 |
0.097 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
37.716 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
37.716 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
66.965 |
0.097 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
62.778 |
0.000 |
|
|
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 |
|
1.800 |
0.011 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
4.953 |
0.064 |
|
Total
Current Assets |
|
6.753 |
0.075 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
3.997 |
0.000 |
|
|
Provisions |
|
0.005 |
0.000 |
|
Total
Current Liabilities |
|
4.002 |
0.000 |
|
|
Net Current Assets |
|
2.751 |
0.075 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
1.436 |
0.022 |
|
|
|
|
|
|
|
|
TOTAL |
|
66.965 |
0.097 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
Sales Turnover |
|
0.017 |
0.000 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
[1.408] |
[0.003] |
|
Provision for Taxation |
|
0.006 |
0.000 |
|
Profit/(Loss) After Tax |
|
[1.414] |
[0.003] |
|
|
|
|
|
|
Total Expenditure |
|
1.425 |
0.003 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007 |
31.03.2006 |
|
PAT / Total
Income |
(%) |
|
[8317.65] |
-- |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
[8282.35] |
-- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
[2.02] |
[4.00] |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
[0.05] |
[0.03] |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.43 |
-- |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.69 |
-- |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U17231DL2005PTC143008 |
|
Name of the
company |
K K FIBERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
B-18/3, Okhla Industrial Area, Phase – II, New Delhi – 110020 |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of India, Commercial Branch, Vardhman Trade Centre, Nehru
Place, New Delhi – 110019, India |
|
Nature of description
of the instrument creating or modifying the charge |
Agreement SME – 2
[Agreement of loan cum hypothecation] |
|
Date of
instrument Creating the charge |
27.12.2006 |
|
Amount secured by
the charge |
Rs. 66.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Working capital –
1.50 % over SBAR presently effective @ 13.00 % p.a. on monthly rest or such
other rate specified by the bank from time to time. Term loan 2.00 %
over SBAR presently effective @ 13.50 % p.a. on monthly rest or such other
rate specified by the bank from time to time. Terms of
Repayment Working Capital –
On Demand Term Loan will be
repaid in 15 quarterly installments of Rs. 3.000 Millions each from June 2007
and last installment Rs. 1.000 Million in March 2011 Margin Stock – 25 % Book Debts 40 % Term Loan – 39 % Extent and
Operation of the charge 100 % working
capital First charge on
all the stocks, book debts, receivables and other current assets of the company
and extension of charge on fixed assets of the company both present and
future Term loan : first
charge on all the fixed assets of the company and extension of charge on
current assets of the company both present and future. Others The above is to
secure the term loan of Rs. 46 Millions and cash credit Rs. 20 Millions |
|
Short particulars
of the property charged |
All the stocks,
book debts, receivables and other current assets of the company and extension
of charge on fixed assets of the company both present and future lying /
installed at Company’s factory, premises godowns or anywhere else including
those in transit. |
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.94 |
|
UK Pound |
1 |
Rs.78.81 |
|
Euro |
1 |
Rs.63.05 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
- |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
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
|
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 |
|