MIRA
INFORM REPORT
|
Report Date : |
13.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ELAARS POOLS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Premier Plaza, Phase II, Shop No. 6, Bombay Pune Highway, Chinchwad,
Pune-411019, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
03.08.2006 |
|
|
|
|
Com. Reg. No.: |
128844 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U45209PN2006PTC128844 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PNEE02075D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCE6571C |
|
|
|
|
Legal Form : |
Private Limited Liability |
|
|
|
|
Line of Business : |
Importer and Seller of Filzeration Equipments used fro Swimming Pool and
Jacuzzi and they are also Importer of Ceramic. |
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 |
|
Status : |
No track |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Comments : |
As per March 2007 financials, the company has not done any business. The company’s references list on the web could not be verified since
financials indicate no business done, so far. The company can be considered for any business dealings on safe and secured
trade terms and conditions only. |
INFORMATION PARTED
BY
|
Name : |
Mr. Imran |
|
Designation : |
Accountant |
|
Contact No.: |
91-9890457862 |
|
Date : |
12.08.2008 |
LOCATIONS
|
Registered Office : |
Premier Plaza, Phase II, Shop No. 6, Bombay Pune Highway, Chinchwad,
Pune-411019, Maharashtra, India |
|
E-Mail : |
|
|
|
|
|
Factory : |
67-15, Premier Plaza, Phase 2, Shop No. 6, Bom-Pune Highway,
Chinchwad, Pune-411019, Maharashtra, India |
|
Tel. No.: |
91-20-66114215/ 16 |
|
Fax No.: |
91-20-27440428 |
|
E-Mail : |
|
|
Area : |
4000 sq.ft (Owned) |
DIRECTORS
|
Name : |
Mr. Mehjabeen Liyakat Shaikh |
|
Designation : |
Director |
|
Address : |
Plot No. 20, Sector No. 24, Pradhkaran, Nigdi, Pune-411044,
Maharashtra, India |
|
Date of Birth/Age : |
27.10.1964 |
|
Date of Appointment : |
03.08.2006 |
|
Other Directorship : |
Freewill Infrastructures Private Limited U45203PN2005PTC020665 |
|
|
|
|
Name : |
Mr. Liyakat Abdul Razak Shaikh |
|
Designation : |
Director |
|
Address : |
Plot No. 20, Sector No. 24, Pradhkaran, Nigdi, Pune-411044,
Maharashtra, India |
|
Date of Birth/Age : |
25.05.1962 |
|
Date of Appointment : |
03.08.2006 |
|
Other Directorship : |
Freewill Infrastructures Private Limited U45203PN2005PTC020665 |
KEY EXECUTIVES
|
Name : |
Mr. Imran |
|
Designation : |
Accountant |
|
Mobile No. : |
91-9890457862 |
SHAREHOLDING
PATTERN
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer and Seller of Filzeration Equipments used fro Swimming Pool
and Jacuzzi and they are also Importer of Ceramic. |
|
|
|
|
Imports : |
|
|
Countries : |
Italy and Spain |
|
|
|
|
Terms : |
|
|
Selling : |
Advance |
|
|
|
|
Purchasing : |
Credit ( 90 Days) |
GENERAL
INFORMATION
|
Customers : |
End Users Educational
Institute
Hotels, Resorts
and Clubes
Government and
Semi-Government Organisation
Private
Residences
Condominiums
|
|
|
|
|
No. of Employees : |
14 |
|
|
|
|
Bankers : |
|
|
|
|
|
Facilities : |
CC Rs. 0.050 Millions (From Cosmos Bank) |
|
|
|
|
Banking Relations
: |
Unknown |
|
|
|
|
Auditors : |
|
|
Name : |
S Gautam and Associates Chartered Accountant |
|
Address : |
# 25, ‘B’ Wing (Rear), 1st Floor, Kamala Cross Roads,
Opposite PCMC Building, Pimpari, Pune-411018, Maharashtra, India |
CAPITAL STRUCTURE
As on 28.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.100
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
0.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.100 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
0.047 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.000 |
|
Total
Current Assets |
|
|
0.047 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.000 |
|
|
Net Current Assets |
|
|
0.047 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.053 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.100 |
|
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
- Panchasheel
Group
- B G Shirke
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U45209PN2006PTC128844 |
|
Name of the
company |
ELAARS POOLS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Premier Plaza, Phase II, Shop No. 6, Bombay Pune Highway, Chinchwad,
Pune-411019, Maharashtra, India |
|
Type of charge |
Book Debts Movable Property Immovable
Property |
|
Particular of
charge holder |
The Cosmos Co-Operative Bank Limited, Chinchwad Branch, Premier Plaza,
Mumbai – Pune Highway, Chinchwad, Pune-411019, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
|
|
Date of
instrument Creating the charge |
25.06.2008 |
|
Amount secured by
the charge |
Rs. 11.500 Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
Terms of
Repayment
Margin
Extent and
Operation of the charge
Total Facility of
Rs. 11.500 Millions comprised of following
|
|
Short particulars
of the property charged |
All the Stock in
trade, Raw Materials, Goods in Process, Semi-Manujfactured and Manufactured
goods, Semi-Finished Products, all Present and future book debts, outstanding
money, receivables, claims, bills, All movable machinery, plant and Equipment
and Accessoreis, spare parts at premier plaza / other places. All piece and
parcel of property at : Store No. 6 ADM. 304.81 sq.ft Mtrs at Premier Plaza,
CTS: 4510, 4513 Tal : Haveli District : Pune within limits of PCMC Towards East : Godown
No. 5, Towards West, South and North : Common Passage. |
AS PER WEBSITE
Company
Profile
In 1989, the year the company was born, Subject was known
as Ion Filters. In 1998 IF was rechristened as Blue Water Pools. BWP became subject
in April 2007. Their is the first
Company from Pune to construct a swimming pool, which they did way back then in
1989. Since then there has been no looking back. The clients’ list and range of
products and services today bears testimony to that.
Subject is a
professional company with well educated and highly trained personnel in a
30-member-strong team today. The partnership channels extend across the length
and breadth of the country and an informal headcount would easily tot up a
figure of 50 more. The parallel and down-line business associates are priority
committed to subjects’ work.
The Mission
- To grow the business only with integrity and efficiency.
- To strive to be fair and just to the customer, associates and
themselves.
- To start every association for the long-term, even for a short-term
deal.
- To always aim to delight – through the products, services and
practices. Every rupee they earn must come along with goodwill.
- To remain dynamic – continuing to innovate and add to the
portfolios.
The
Vision
Subject, a name and its portfolio that bring instant
recall – with respect.
PRODUCT AND SERVICES 
Subject’s range of products and services offered are in the
domains of swimming pools, hydrotherapy equipments (like
steam baths, sauna baths, Jacuzzis, whirlpool spas), fountain equipments and (ceramic and porcelain) tiles. While in the ceramic and
porcelain tiles, fountain equipments and hydrotherapy businesses they only supply
the products, in the area of swimming pools they also execute complete turnkey
projects that can even extend up to the subsequent operation and maintenance of
the facilities.
The organisation has a full design set up for
preparation and submission of project drawings to the architect/consultant at
the very initial stages of the project. A team of experienced erectors
undertakes the execution of the jobs under the guidance and supervision of
senior engineers.
They have also developed a unique modular FRP cabin for
steam baths.
CLIENTS 
Subject’s portfolio of clients in all categories of
products and services includes government and semi-government organisations,
clubs, hotels, resorts and private property owners. The roster of the
interactions reads like a literal who’s who in each of these segments. Support
from many prominent architectural firms (and practicing architects) and civil
construction consultants has played a major role in forming the very nucleus of
the DNA
OVERSEAS
PARTNERS 
Elaars Pools is associated with world-leaders in each
area of its products-and-services portfolio. They are proud to state here that
they are backed by the world’s largest filtration equipment manufacturers, Certikin, U.K. and Astral, Spain. The engineers are trained
to the international standards to design and install their filtration systems.
The associates have also given them access to their other products for swimming
pools, like lighting and heating equipments, etc. `
The ceramic and porcelain tiles division has a tie-up
with Florim Ceramiche, S.p.A., Italy. Florim is world-renowned for its products,
which are usually torchbearers for the rest of the industry. Constantly
innovating, the Italian partners enable them to offer products that are not
only ahead of the pack in aesthetic and technical terms, but are able to also
cover almost every conceivable application – paving and cladding for interiors,
exteriors, landscapes, water bodies (including swimming pools of course), low
and high traffic areas, industrial applications, etc., the iteration just goes
on and on!
For fountain equipments they procure from Oase, Germany. Oase is one of the biggest
players globally in this industry and the clients yet again stand to benefit
from the wide range of offerings that comes in the basket.
Some
of the other supplier brands are:
·
Bombas
·
Thermalec
·
Fiberstars
·
SuperVision
·
Kotisauna
·
Inbeca
·
Compool
·
Chemtrol
·
CAT
·
Aquamatic
·
AquaVac
·
Aqua Queen
·
Clearwater Tech
·
Paddock
·
Deck Equipment
·
Durafirm
·
Duraflex.
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.42.40 |
|
UK Pound |
1 |
Rs.80.54 |
|
Euro |
1 |
Rs.62.96 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
-- |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
-- |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
|
11 |
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 |
|