MIRA
INFORM REPORT
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Report Date : |
12.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
DIPIKA POLYMERS PRIVATE LIMITED |
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Registered Office : |
E – 5, Mansarover Garden, New Delhi – 110015 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
05.09.2005 |
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Com. Reg. No.: |
140370 |
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CIN No.: [Company
Identification No.] |
U25202DL2005PTC140370 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELD09171B |
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PAN No.: [Permanent
Account No.] |
AAEFD9794N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of all kinds of Plastic Raw Materials. |
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 400 |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company. It has been successful in obtaining
good amount of facilities from its banker. No further information could be made available. The company can be considered for any business dealings on fully safe
and secured trade terms and conditions. |
LOCATIONS
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Registered Office : |
E – 5, Mansarover Garden, New Delhi – 110015, India |
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Tel No.: |
91-11-45061900 |
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Fax No.: |
91-11-45061922 |
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E-Mail : |
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Factory : |
B – 96, Phase – II, Noida, Uttar Pradesh |
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Tel No.: |
91-120-2562759 |
DIRECTORS
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Name : |
Mr. Rakesh Kumar Jain |
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Designation : |
Director |
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Address : |
224, Shiv Ganj, Ward No.19, District Sirohi, Rajasthan |
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Name : |
Mr. Munny Jain |
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Designation : |
Director |
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Address : |
1/6653, East Rohtas Nagar, Shahdara, Delhi – 110032, India |
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Date of Birth/Age : |
29.09.1985 |
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Name : |
Mr. Anish R. Shah |
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Designation : |
Director |
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Address : |
A-65, Ramesh Nagar, New Delhi - 110015 |
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Date of Birth/Age : |
03.06.1976 |
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Date of Appointment : |
05.09.2005 |
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Name : |
Mr. Mayur Bhanwal Jain |
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Designation : |
Director |
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Address : |
GB – 22, Shivaji Enclave, New Delhi – 110027, India |
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Date of Birth/Age : |
05.10.1980 |
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Date of Appointment : |
05.09.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Rakesh Kumar Jain |
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4000 |
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Mr. Munny Jain |
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3000 |
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Mr. Anish R. Shah |
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3000 |
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Total |
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10000 |
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Category |
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Percentage |
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Directors or Relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of all kinds of Plastic Raw Materials. |
GENERAL
INFORMATION
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Bankers : |
·
HDFC Bank Limited, 9th Floor, Ansal Classique Tower, Rajouri Garden, New Delhi
– 110027, Delhi, India ·
Centurion
Bank of Punjab Limited J-2/4, Rajouri
Garden, New Delhi – 110027, India |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Chander Prakash and Company Chartered Accountants |
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Address : |
207, Padma Tower – II, 22 Rajendra Place, New Delhi – 110008, Delhi,
India |
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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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.100 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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5.373 |
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TOTAL BORROWING |
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5.373 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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5.473 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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1.810 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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2.818 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.858 |
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Total
Current Assets |
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5.486 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.147 |
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Provisions |
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0.001 |
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Total
Current Liabilities |
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0.148 |
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Net Current Assets |
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5.338 |
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MISCELLANEOUS EXPENSES |
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0.058 |
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Profit and Loss Account |
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0.077 |
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TOTAL |
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5.473 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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55.21 |
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Current Ratio (Current Asset/Current Liability) |
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37.07 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
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Corporate
identity number (CIN) Foreign company registration number |
U25202DL2005PTC140370 |
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Name of the
Company |
DIPIKA POLYMERS PRIVATE LIMITED |
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Address |
E – 5, Mansarover Garden, New Delhi – 110015, India |
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This form is for |
Creation of
Charge |
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Type of Charge |
Book debts Movable Property (Not being pledge) Stocks, Current and Fixed Assets |
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Particulars of
the charge holder |
Centurion Bank of
Punjab Limited J-2/4, Rajouri
Garden, New Delhi – 110027, India CIN:
L65191GA1994PLC001620 |
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Nature or
description of the instrument(s) creating or modifying the charge |
Agreement of
Hypothecation of Goods, Vehicles, Plant and Machinery, Stocks and Book debts
date :28.06.2007 |
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Date of the
instrument creating or modifying the charge |
28.06.2007 |
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Amount secured by
the charge |
Rs.122.500
Millions |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest: Interest as per
Bank Norms Terms of
repayment: Repayment as per
Bank Norms Margin: Margin as per
Bank Norms Extent and
operation of the charge: The charge
operate as continuing security inter alias, for the due repayment by the
company to the Bank to the extent of Rs.122.500 Millions together with interest,
additional interest, liquidated damages, premia on repayment costs, charge,
expenses and all other moneys payable by the company to the Bank in terms of
the loan agreements and Bank norms from time to time. Property in col.14 is
hypothecated inter alias to the Bank as and by way of first pari passu
charge. |
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Short particulars
of the property charged (including location of the property) |
First Pari passu
charge on stocks and book debts and other chargeable assets of the company and
entire current assets and fixed assets of the company except those
specifically hypothecation to other Bankers/ Financial institutions is to
Rs.122.500 Millions as detailed in schedule -1 to the agreement attached. |
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Particular of the
present modification |
N.A. |
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.39.29 |
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UK Pound |
1 |
Rs.77.02 |
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Euro |
1 |
Rs.58.16 |
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 |
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 |
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 |
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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