MIRA
INFORM REPORT
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Report Date : |
29.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
RAJGURU ENTERPRISE PRIVATE LIMITED |
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Registered Office : |
A-20, Bharat Nagar, Grant Road, Mumbai – 400007, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
07.05.2002 |
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Com. Reg. No.: |
135787 |
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CIN No.: [Company
Identification No.] |
U27200MH2002PTC135787 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR20833B |
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PAN No.: [Permanent
Account No.] |
AACCR1931Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Stainless Utensils |
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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Maximum Credit Limit : |
USD 500 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Clear |
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Comments : |
Financial position is unknown as the company has not file any financials
since incorporation. Management parted partial details but denied financial details. The company’s payments are reported as slow and delayed. It would be prudent to deal with the company on fully safe and secured
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Pushpa |
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Designation : |
Account Manager |
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Contact No.: |
91-22-23003217 |
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Date : |
27.08.2008 |
LOCATIONS
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Registered Office : |
A-20, Bharat Nagar, Grant Road, Mumbai – 400007, Maharashtra |
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Tel. No.: |
91-22-23003217/23603218 |
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Mobile No.: |
91-986704409 |
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Fax No.: |
91-22-23003218/23051322 |
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E-Mail : |
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Location : |
Owned |
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Factory 1 : |
A/2, 501 GIDC, Vapi, Gujarat |
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Area : |
Owned |
DIRECTORS
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Name : |
Mr. Kalpesh Prakash Shahji |
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Designation : |
Director |
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Address : |
A – 2- 505, GIDC, Satigam, Valsad – 396155, Gujarat |
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Date of Birth/Age : |
11.06.1986 |
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Qualification : |
12th |
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Experience : |
3 Years |
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Date of Appointment : |
11.07.2005 |
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Name : |
Mr. Bhawarlal Rajpurohit |
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Designation : |
Director |
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Address : |
A – 2- 505, GIDC, Satigam, Valsad – 396155, Gujarat |
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Date of Birth/Age : |
12.08.1974 |
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Qualification : |
12th |
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Experience : |
15 Years |
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Date of Appointment : |
31.07.2004 |
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Name : |
Mr. Ramesh Pukhraj Bafna |
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Designation : |
Director |
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Address : |
A – 41 – A Bharnt Nagar, 342 M S Ali Road, Grant Road, Mumbai –
400007, Maharashtra |
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Date of Ceasing : |
31.07.2004 |
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Name : |
Mr. Pravesh Bafna |
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Designation : |
Director |
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Date of Birth/Age : |
22 Years |
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Qualification : |
B. Com |
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Experience : |
2 Years |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 30.09.2005
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Names of Shareholders |
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No. of Shares |
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Mr. Ramesh Pukhraj Bafna |
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5000 |
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Ms. Umbridevi Ramesh Bafna |
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5000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Stainless Utensils |
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Products : |
Stain Steel Utensils |
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Exports : |
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Products : |
Stain Steel Utensils |
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Countries : |
Yemen, Dubai and Tanzania |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
Singapore |
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Terms : |
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Selling : |
Credit |
GENERAL
INFORMATION
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No. of Employees : |
5 |
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Bankers : |
Indusind Bank Limited, 425, Dr. Dadasaheb Bhandkamkar Marg, Opera
House, Mumbai – 400004, Maharashtra |
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Facilities : |
CC – 5.000 Millions |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Manjunath and Associated Chartered Accountant |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2005
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- Each |
Rs. 1.000
Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- Each |
Rs. 0.100 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
The company is poor
in Corporate Governance and its no financial are yet available
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.100 |
0.100 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.048 |
0.048 |
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TOTAL BORROWING |
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0.048 |
0.048 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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0.148 |
0.148 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
0.000 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances |
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0.112 |
0.112 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.600 |
0.600 |
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Total
Current Assets |
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0.712 |
0.712 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities and Provision |
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0.603 |
0.600 |
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Total
Current Liabilities |
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0.603 |
0.600 |
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Net Current Assets |
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0.109 |
0.112 |
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MISCELLANEOUS EXPENSES |
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0.039 |
0.036 |
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TOTAL |
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0.148 |
0.148 |
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Since the company
not commenced any business activity no Profit and Loss A/C as given
KEY RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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Debt Equity Ratio (Total Liability/Networth) |
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6.51 |
6.48 |
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Current Ratio (Current Asset/Current Liability) |
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1.18 |
1.18 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v
A R M N and Khadhim Trading – Dubai
v
Moderi House Hold
Form 8
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U27200MH2002PTC135787 |
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Name of the
company |
RAJGURU ENTERPRISE PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
A-20, Bharat Nagar, Grant Road, Mumbai – 400007, Maharashtra |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
Indusind Bank Limited, 425, Dr. Dadasaheb Bhandkamkar Marg, Opera
House, Mumbai – 400004, Maharashtra |
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Nature of
description of the instrument creating or modifying the charge |
Agreement of
hypothecation to secure working capital facilities |
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Date of
instrument Creating the charge |
16.10.2007 |
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Amount secured by
the charge |
Rs. 10.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
– 45 Ocer below then prevailing prime lending rate which is presently as per
banks extent guidelines for Export Credit. Penal interest at rate of 2% over
the BPLR Terms of
Repayment – As per sanctioned letter Margin – NA Extent and
Operation of the charge – Post Shipment Credit (PSC) – Rs. 5.000 Millions Advance against
duty draw back – Rs. 5.000 Millions Others – NA |
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Short particulars
of the property charged |
Hypothecation of
current assets, book debts and receivables and other movable assets and plant
and machinery |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.73 |
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UK Pound |
1 |
Rs.80.31 |
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Euro |
1 |
Rs.64.61 |
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 |
1 |
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OPERATING SCALE |
1~10 |
1 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
1 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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 |
YES |
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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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12 |
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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