MIRA
INFORM REPORT
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Report Date : |
03.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
ELTECH RUBBER [INDIA] PRIVATE LIMITED |
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Registered Office : |
16 A, Raju Industrial Estate, Pendekar Pada, Near Dahisar Checknaka,
Dahisar [East], Mumbai – 401104, Maharashtra |
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Country : |
India |
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Date of Incorporation : |
16.01.1998 |
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Com. Reg. No.: |
113028 |
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CIN No.: [Company
Identification No.] |
U25190MH1998PTC113028 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEE01458C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Extruded and Moulded Rubber Components. |
RATING &
COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Poor |
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Payment Behaviour : |
Unknown |
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Comments : |
Subject is a 9 year old company but has not filed any financials with
Government Departments till date. The company is poor in corporate governance.
Mr. Uttam Mane of the company declined to part with any details. No further
information could be made available. The company can be considered for any business dealings on fully safe
and secure trade terms and conditions, only. |
LOCATIONS
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Registered Office / Factory : |
16 A, Raju Industrial Estate, Pendekar Pada, Near Dahisar Checknaka,
Dahisar [East], Mumbai – 401104, Maharashtra, India |
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Tel. No.: |
91-22-28454486 / 28454506 / 6923 / 4369 |
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Fax No.: |
91-22-28455620 |
DIRECTORS
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Name : |
Mr. Uttam Shankar Mane |
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Designation : |
Director |
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Address : |
705, B – Wing, Indiralok, Plot No. 16, Apna Ghar, Shree Sawami Samarth
Nagar, Andheri [West], Mumbai – 400049, Maharashtra, India |
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Name : |
Mrs. Prema Uttam Mane |
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Designation : |
Director |
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Address : |
705, B – Wing, Indiralok, Plot No. 16, Apna Ghar, Shree Sawami Samarth
Nagar, Andheri [West], Mumbai – 400049, Maharashtra, India |
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Date of Appointment : |
01.04.2002 |
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Name : |
Mr. Dattaram Ghadashi |
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Designation : |
Director |
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Address : |
Room No. 308/B, Indira Nagar, Juhu Tere Road, Santacruz [West], Mumbai
– 400049, Maharashtra, India |
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Date of Appointment : |
01.04.2002 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Uttam Shankar mane |
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100 |
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Prema Uttam Mane |
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100 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Extruded and Moulded Rubber Components. |
GENERAL INFORMATION
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Bankers : |
Development Credit Bank Limited, Dahisar Branch, Mumbai – 400068,
Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 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]
Not Available
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
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Name of the company |
ELTECH RUBBER
[INDIA] PRIVATE LIMITED |
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Presented By |
Development Credit
Bank Limited, Dahisar Branch, Mumbai – 400068 |
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1) Date and description of instrument creating the change |
Hypothecation of
goods and Book Debts to secure credit facility dated 31.07.1998 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 3.000
Millions [Cash Credit] |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
First chares on all
stocks of goods raw process, finish goods and other items of stocks and all
book debts now owing to the company. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
To secure Cash
Credit Limit of Rs. 3.000 Millions. Margin – 25
% on Stock and 50 % on Book Debts.
Rate of Interest @ 18 % p.a. exclusive of Interest Tax. |
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5) Name and Address and description of the person entitled to the charge. |
Development Credit Bank Limited, Dahisar Branch, Mumbai – 400068 |
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6) Date and brief description of instrument modifying the charge |
Supplemental Deed
of Hypothecation Additional Limit
dated 16.11.2000 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Original Charge
dated 31.07.1998 for Rs. 3.000 Millions was modified as under : Date of
modification : 29.12.1999 Particulars : The
Limit is increased from Rs. 3.000 Millions to Rs. 4.000 Millions Now by the
present modification the limit is increased from Rs. 4.000 Millions to Rs.
4.800 Millions by additional Adhoc Limit sanction of Rs. 0.800 Million. Other
terms and conditions remains unchanged. |
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.39.45 |
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UK Pound |
1 |
Rs.78.14 |
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Euro |
1 |
Rs.58.04 |
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 |
2 |
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OPERATING SCALE |
1~10 |
- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
- |
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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 |
- |
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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 |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
NO |
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TOTAL |
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9 |
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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