MIRA
INFORM REPORT
|
Report Date : |
01.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
LEELA SCOTTISH
LACE PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Leela Baug, Andheri Kurla Road, Marol , Andheri (East), Mumbai – 400
059, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Date of Incorporation : |
26.06.2007 |
|
|
|
|
Com. Reg. No.: |
172009 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U18109MH2007PTC172009 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMB17672E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AADCB1906G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer, Importer and Exporter of Readymade Garments for Men, Women and Children. |
RATING & COMMENTS
|
MIRA’s Rating
: |
B |
RATING
|
STATUS |
PROPOSED
CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average/normal. |
Small |
|
Status : |
New Company |
|
|
|
|
Payment
Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new company
promoted by Bombay Rayon Fashions Limited. Directors are reported as
experienced, respectable and having satisfactory means of their own. Trade
relations are fair. Payments are reported as usually correct and as per
commitments. The company can be
considered for small to mediocre business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered
Office : |
Leela Baug, Andheri Kurla Road, Marol, Andheri (East), Mumbai - 400
059, Maharashtra, India |
|
Tel. No.: |
91-22-28384420 /
21 / 22 / 28363636 / 28342994 |
|
Fax No.: |
91-22-28365747 /
28365748 |
|
Email : |
|
|
|
|
|
Corporate
Office: |
D – 1135, Oberoi
Garden Estates, Chandivali, Andheri (East), Mumbai – 400 072, Maharashtra,
India |
|
Email Id: |
|
|
|
|
|
Factory : |
Ø Plot No. 22 SP, Thiru Vi Ka Industrial
Estate, Guindy, Chennai – 600 032, Tamilnadu, India Tel No.: 91-44-28384420/ 28342994 Fax No.: 91-44-28365747/ 48 Ø 498, Stage 3, Phase 4, Peenya, Bangalore –
560 056, Karnataka, India Tel No.: 91-80-28362410 / 28362415 / 28361309 / 28361308 / 28365160 Ø Yeshwantpur Bangalore Ø
40, 4th
Main Road, 3rd Phase , Peenya Industrial Area, Behind Arvind,
Motors, Bangalore – 400 058 Tel No: 91-80-22957134 Fax No: 91-80-22957109 / 22957139 Ø Block No. 9, Kinfra, kakkand, Emakulam,
Karla Ø B-11, Ambattur Industrial Estate, Chennai Ø 41, Ambattur Industrial Estate, Chennai Ø A 8 and 9, Guindy Industrial Estate,
Chennai – 600 032, Tamil Nadu, India Tel No:
91-44-22346604 / 22346360 / 22343126 / 22346604 / 22343539 |
|
|
|
|
Branches : |
· 103, Haudin Road, Bangalore – 560 042, Karnataka Tel. No. 91-80-25592346 · 498, Stage 3, Phase 4, Peenya, Bangalore – 560 056, Karnataka Tel No. 91-80-28362410 / 28362415 /28361309 / 28361308 / 28365160 · 102/9, Stafford, Haudin Road, Bangalore – 560 001, Karnataka Tel No. 91-80-25593638 · 26/1A, Mysore Road, Bangalore – 560 059, Karnataka Tel No. 91-80-28605160 · 10/6SP, 3rd Main Road, Ambattur Industrial Estate, Chennai – 600 058, Tamilnadu Tel No. 91-44-26259547 · B-34, Nelson Court, 117, Nelson Manickkam Road, Aminjikarai, Chennai, Tamilnadu Tel No. 91-44-23741679 · B-7 & 8, Industrial Estate, Ambattur Industrial Estate, Chennai – 600 058, Tamilnadu Tel. No. 91-44-26244462 · B-7, Industrial Estate, Ambattur Industrial Estate, Chennai – 600 058, Tamilnadu Tel No. 91-44-26253612 · C25, Nelson Manickkam Road, Aminjikarai, Chennai, Tamilnadu Tel No. 91-44-23740643 · 10/7, 3rd Main Road, South Phase, Ambattur Industrial Estate, Chennai – 600 058, Tamilnadu Tel No. 91-44-26510363 / 26253194 / 26258478 · B 11, Ambattur Industrial Estate, Chennai – 600 058, Tamilnadu Tel No. 91-44-26251110 / 26251845 / 26253591 · Victoria Garden, 20, Inner Ring Road, Koyambedu, Chennai – 600 107, Tamilnadu Tel No. 91-44-24753237 |
DIRECTORS
|
Name : |
Mr. Prashanth J Agarwal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Aman Agarwal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Asharam D Mundra |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Uday C Mogre |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Y A Thunduvila |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Dinesh Nair |
|
Designation : |
Director |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of Readymade Garments for Men, Women and Children. |
|
|
|
|
Exports : |
|
|
Products : |
All Products |
|
Countries : |
USA, European Countries |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
Korea, China, Germany |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, D/P |
|
|
|
|
Purchasing : |
L/C, Credit (30 Days), D/P |
GENERAL
INFORMATION
|
Customers : |
Wholesalers, Retailers |
|
|
|
|
|
|
No. of Employees : |
15000 |
|
|
|
|
|
|
Bankers : |
· Axis Bank Address 1 : Lokhandwala Branch Address 2 : Bandra Branch · State Bank of India Address: Andheri (East) Branch, Mumbai ,
Maharashtra, India |
|
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
|
|
Auditors : |
|
|
|
Name: |
Mr. V K Beswal and Associates Chartered Accountants |
|
|
Address: |
New Marine Lines, Mumbai, Maharashtra, India |
|
|
Tel. No.: |
91-22-22065656 |
|
|
|
|
|
|
Associates : |
Ø Leela International Limited Ø Leela Fashions Private Limited Ø LVK Investments Private Limited Ø Beacon Fabrics Private Limited Ø Tropicate Textiles Private Limited Ø Season Apparels Private Limited Ø Wondercraft Apparels Private Limited Ø Leela Soft Private Limited Ø Aushim Soft Private Limited Ø Leela Housing Private Limited Ø Elegant Eateries Private Limited Ø Vibgyor Leasing Private Limited Ø Oceanic Hotels Private Limited Ø Splendour Realtors Private Limited Ø Leela Capital and Finance Limited Ø Scientific Packaging Industries |
|
|
|
|
|
|
Subsidiaries : |
Ø Leela Industries Limited Ø Hotel Leela Venture Limited Ø Standard Precious Alloy Industries Private Limited Ø Chemtec Water Conditioners Private Limited Ø VKN Investments Private Limited Ø PSPL Polymers Private Limited Ø Zantho Pharmaceuticals Private Limited Ø Armcess Engineers Private Limited Ø Design Creations Mumbai Private Limited Ø Mumbai International Convention and Exhibition Centre Limited Ø Arnin Group Hotel Limited Ø Vision Hotels and Resorts Limited Ø Leela Lace HK Limited |
|
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000000 |
Equity shares |
Rs. 10/-each |
Rs.500.000 millions |
Issued, Subscribed & Paid-up Capital : NA
FINANCIAL DATA
[all figures are in Rupees Millions]
|
PARTICULARS |
|
|
31.03.2007 |
|
Sales Turnover |
|
|
3800.000 |
Expected Sales (2007-08): Around Rs. 4400.000 millions.
LOCAL AGENCY
FURTHER INFORMATION
HISTORY:
As per telecom with Mr. Ranjan Shah we have found that the earlier
entity Leela Scottish Lace Private Limited (The Company) was taken over by the
Nair Family – The Leela Group and was named Leela Lace Software Solutions
Private Limited and it was completely out of the Apparels business, with a new
business under Leela Lace Software Solutions Private Limited. The business or
activities entity Leela Scottish Lace Private Limited had been taken over by
Bombay Rayon Apparels Private Limited. In August 2007 and it again changed its
name to Leela Scottish Lace Private Limited in December 2007. The first
financials of the above company would be as on March year ending 2008. Bombay
Rayon Apparels is a 100% subsidiary of Bombay Rayon Fashions Private limited
and so is now Leela Scottish Lace Private Limited a 100% subsidiary of Bombay
Rayon Fashions Limited (a listed company).
TRADE REFERENCE:
· Wallmart
· Avenue
· Anntaylor
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.39.39 |
|
UK Pound |
1 |
Rs.78.40 |
|
Euro |
1 |
Rs.58.73 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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 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/normal. |
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 |
|