MIRA
INFORM REPORT
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Report Date : |
17.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
MANAV BIOCHEM IMPEX PRIVATE LIMITED |
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Registered Office : |
503 Parshva Chambers, 17/21, Issaji Street, Vadgadi, Mumbai-400 003, Maharashtra |
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Country : |
India |
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Date of Incorporation : |
09.05.2005 |
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Com. Reg. No.: |
11-153120 |
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CIN No.: [Company
Identification No.] |
U51496MH2005PTC153120 |
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TAN No.: [Tax Deduction
& Collection Account No.] |
MUMM27102F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader of Chemicals and Solvents |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
RATING
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STATUS |
PROPOSED
CREDIT LINE |
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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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Maximum Credit Limit : |
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Status : |
Moderate |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
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Comments : |
Subject was incorporate to takeover the running business of erstwhile Proprietory concern Manav Chem Impex. The company has not filed any financials with the Government departments till date. The management parted general details but declined to part with financials. However, no complaints have been heard. The company can be considered for small to mediocre business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Viral |
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Designation : |
Sales Department |
LOCATIONS
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Registered Office : |
503 Parshva Chambers, 17/21, Issaji Street, Vadgadi, Mumbai-400 003, Maharashtra, India. |
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Tel. No.: |
91-22-66312828 |
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Fax No.: |
91-22-23410538 |
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E-Mail : |
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Area : |
590 sq. ft. |
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Location : |
Owned |
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Corporate Office : |
B 12, Chandra Dharshan, PK Road, Pach Rasta, Above Lijat Papad, Mulund (west), Mumbai – 400 080, Maharashtra, India. |
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Tel No: |
91-22-65178734 |
DIRECTORS
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Name : |
Mr. Mukesh K. Shah |
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Designation : |
Director |
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Address: |
8 Javer apartment, 1st Floor, Javer Road, Mulund (West), Mumbai – 400 080, Maharashtra, India. |
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Date of Birth/Age: |
38 Years |
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Qualification: |
B.Com |
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Name : |
Mrs. Naina M. Shah |
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Designation : |
Director |
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Address: |
8 Javer apartment, 1st Floor, Javer Road, Mulund (West), Mumbai – 400 080, Maharashtra, India. |
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Date of Birth/Age: |
34 Years |
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Qualification: |
B.Com |
KEY EXECUTIVES
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Name : |
Mr. Viral |
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Designation : |
Sales Department |
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BUSINESS DETAILS
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Line of Business : |
Trader and Importer of Chemicals and solvents |
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Export: |
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Countries: |
Mainly Germany |
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Imports from : |
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Terms : |
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Selling : |
Credit (30 days, 90 days) |
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Purchasing : |
L/C, Credit, D/A and Advance (60 days) |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
Around 10 |
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Bankers : |
Union Bank of India, Khand Bazar Branch, 109, Kazi Syed Street, Khand Bazar, Mumbai-400 003, Maharashtra, India. |
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Facilities : |
CC, LC – 10.000 Millions |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
FINANCIAL
DATA
[all
figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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500.000 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
Originally started as Manav Chem Impex in year 2002 as Sole proprietor Business Mr. Mukesh Shah.
Subject: took over running business w.e.f. 1st July 2005 when the company was incorporated.
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This form is for |
Creation of
charge Modification of
charge |
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Charge
identification number of the modified
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10003893 |
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Corporate
identity number of the company |
U51496MH2005PTC153120 |
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Name of the
company |
MANAV BIO CHEM
IMPEX PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
503, Parshav
Chambers, 17/12, Issaji Street, Vadgadi, Mumbai – 400 003, Maharashtra,
India. |
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Type of charge |
Others |
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Particular of
charge holder |
Union Bank of
India, Khand Bazar Branch, 109, Syed
Street, Khand Bazar, Mumbai – 400 003, Maharashtra, India. |
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Nature of
description of the instrument creating or modifying the charge |
D.P. Note and
Letter of Hypothecation of Bills |
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Date of
instrument Creating the charge |
06.06.2008 |
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Amount secured by
the charge |
Rs.7.500 millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 16.25% per annum
with monthly rests Terms of
repayment On Demand Margin As per sanction
terms Extent and operations
of the charge To secure revised
UBD Under L/C facility of Rs.7.500 millions grantedby the Bank to the
Company. |
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Short particulars
of the property charged |
Purchase from or
negotiate a Bill or Bills of Exchange drawn or accepted or endorsed against
goods and / or merchandise (hereinafter referred to as goods) or shipping or
other documents and / or hold such or any other Bill or Bills of Exchange and
/ or documents for collection on the Borrower’s account under lien to the
Bank. |
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Date of latest
modification prior to the present modification |
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Particulars of
the present modification |
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NOTE:
The Registered Office of the Company has been
shifted from “ 8 Javer Apartment, 1st Floor Javer road, Mulund
(West), Mumbai – 400 080, Maharashtra, India.” to present w.e.f. 25.03.2008
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. 47.82 |
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UK Pound |
1 |
Rs. 73.08 |
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Euro |
1 |
Rs. 65.56 |
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 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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30 |
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
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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/normal. |
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 |