MIRA
INFORM REPORT
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Report Date : |
29.12.2008 |
IDENTIFICATION DETAILS
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Name : |
AIZA TIEUP PRIVATE LIMITED |
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Registered Office : |
1, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
18.05.2005 |
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Com. Reg. No.: |
103191 |
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CIN No.: [Company
Identification No.] |
U51109WB2005PTC103191 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader and Importer of Pulses. |
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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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a 3 years old company and commenced operations only during
this year. The management parted some details. No further details could be
made available. The company can be considered for any business dealings on safe and
secured terms initially. |
INFORMATION PARTED BY
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Name : |
Mr. Manoj Jain |
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Designation : |
Accountant |
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Contact No.: |
Mobile no. 91-9830041133 |
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Date : |
27.12.2008 |
LOCATIONS
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Registered Office : |
1, |
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Tel. No.: |
91-33-24013679/ 24013096 |
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Mobile No.: |
91-9831263451 |
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Fax No.: |
91-33-24013679 |
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E-Mail : |
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Area : |
1450 sq ft |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Vimal Goel |
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Designation : |
Director |
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Address : |
17, |
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Date of Birth/Age : |
04.10.1962 |
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Date of Appointment : |
18.05.2005 |
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Date of Resignation : |
28.07.2007 |
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Name : |
Mr. Vikram Soni |
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Designation : |
Director |
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Address : |
144A, Lenin Sarani, Kolkata – 700 013, West |
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Date of Birth/Age : |
13.08.1977 |
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Date of Appointment : |
22.05.2006 |
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Date of Resignation : |
28.07.2007 |
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Name : |
Mr. Shamshad Khan |
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Designation : |
Director |
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Date of Birth/Age : |
44 years |
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Qualification : |
MBA |
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Name : |
Mr. Mahadev Prasad Balasaria |
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Designation : |
Director |
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Address : |
22, |
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Date of Appointment : |
18.05.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.06.2007
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Names of Shareholders |
No. of Shares |
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Gallaine Developers Private Limited Jointly with Vimal Goel |
100 |
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Gallaine Developers Private Limited |
9900 |
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Total |
10000 |
As on 29.06.2007
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Bodies
corporate |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader and Importer of Pulses. |
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Imports : |
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Products : |
Pulses |
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Countries : |
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Terms : |
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Selling : |
Cash, Credit 30 – 60 days |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
9 |
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Bankers : |
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Auditors : |
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Name : |
Sunil Surana and Company Chartered Accountants |
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Address : |
Kolkata |
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Name : |
Agrawal Himatsingka and Company Chartered Accountants |
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Address : |
9, |
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Financial
Institution : |
Housing and Urban Development Corporation Limited, Hudco Bhawan,
India, Haribitat Center, Lodhi Road, New Delhi – 110 003, India |
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Holding Company : |
Gallaine Developers Private Limited CIN No.: U99999WB2006PTC107924 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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20000 |
Equity Shares |
Rs.10/- each |
Rs.0.200 million |
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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 |
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(Held by Holding Company Gallaine
Developers Private Limited)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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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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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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0.100 |
0.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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10.002 |
0.000 |
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Capital work-in-progress |
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0.043 |
0.005 |
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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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0.024 |
0.100 |
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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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0.000 |
0.000 |
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Total
Current Assets |
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0.024 |
0.100 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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9.976 |
0.015 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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9.976 |
0.015 |
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Net Current Assets |
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(9.952) |
0.085 |
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MISCELLANEOUS EXPENSES |
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0.007 |
0.010 |
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TOTAL |
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0.100 |
0.100 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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99.76 |
0.15 |
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Current Ratio (Current Asset/Current Liability) |
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0.00 |
0.18 |
LOCAL AGENCY FURTHER INFORMATION
Note: The registered office of the company has been shifted from 144A,
Lenin Sarani, 1st Floor, Kolkata – 700 013,
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U51109WB2005PTC103191 |
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Name of the
company |
AIZA TIEUP PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in |
1, |
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Type of charge |
Immovable
Property |
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Particular of
charge holder |
IDBI Bank Limited, MID Corporate Group, 44, Shakespeare Sarani,
Kolkata – 700 017, West E-Mail: minky.pramanik@idbi.co.in |
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Nature of
description of the instrument creating or modifying the charge |
No Instrument was
executed. However, Equitable Mortgage was created by way of Deposit of title
deeds on 12.09.2008 at the office of the IDBI Bank Limited, 44, Shakespeare
Sarani, Kolkata – 700 017. |
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Date of
instrument Creating the charge |
12.09.2008 |
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Amount secured by
the charge |
Rs.200.000
millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
LC - @50% of IDBI card rate plus service tax payable upfront. Buyers’ Credit
(BG Commission) – 1.50% p.a. Buyers’ credit
(Interest) – at market rates. Terms of
Repayment: Tenure of individual LC/ Buyers credit not to exceed 180 days. Honoring of
commitments on due dates. Margin: 15% cash
margin in form of TDR Extent and Operation
of the charge: The charge operates as first charge basis on the whole of the
mortgaged created as aforesaid was for the purpose of section 79 of the
Transfer of Property Act 1882 and for no other purpose and without prejudice
to the Borrower’s full liability to the Bank, under the said mortgage fixed
at Rs.200.000 millions together with interests, costs and charges thereon. Others: The
Borrower shall not do or allow anything which may prejudice the security and
shall comply with the terms and conditions of the Agreements. The Company
stands as a corporate guarantor/ security provider to secure the overall
limit of Rs.200.000 millions granted to Prime Impex Limited (the borrower)
together with interests, costs and charges thereon. |
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Short particulars
of the property charged |
Equitable
mortgage charge on the undivided piece of land admeasuring 28 cottahs, 6
Chittacks and 30 Square Feet along with structure standing thereon lying and
situate at and being premises no.99B, Karl Marx Sarani formerly known as
Garden Reach Road (formerly 99B, 99C, 99D and 99E, Karl Marx Sarani), Kolkata
– 700 023, P.S. Wattgunj, Ward No.76 within the limits of KMC in the state of
West Bengal owned by Aiza Tieup Private Limited and other co-owners as stated
in the Memorandum of Entry. |
TRADE REFRENCES:
- Prime Inpex
Limited
- Prime Pulses
Private Limited
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 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.47.89 |
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1 |
Rs.70.84 |
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Euro |
1 |
Rs.67.37 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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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 |
1 |
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--CREDIT LINES |
1~10 |
1 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
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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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