%2003-Jul-2008_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
03.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
BEDI ELECTRONICS WORLD
(PROPRIETOR: BEDI TRADING PRIVATE LIMITED) |
|
|
|
|
Registered Office : |
G T Road, Miller Ganj, Ludhiana - 141003, Punjab |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
08.07.2003 |
|
|
|
|
Com. Reg. No.: |
16-26172 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51395PB2003PTC026172 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
JLDB00852F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Dealer of Samsung Electronics |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 140000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company meeting its normal
commitments timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. G. S. Bedi |
|
Designation : |
Director |
|
Contact No.: |
91-9872816666 |
|
Date : |
25.06.2008 |
LOCATIONS
|
Registered
Office : |
G T Road, Miller Ganj,
Ludhiana - 141003,
Punjab, India |
|
Tel. No.: |
91-161-2538966 |
|
E-Mail : |
|
|
|
|
|
Corporate Office
: |
Ferozpur Road, Opposite Hotel Country INN,
Ludhiana – 141 001, Punjsb, India |
|
Tel. No.: |
91-161-9872816666 |
|
|
|
|
Unit : |
Bedi Electronics
Word |
|
Address : |
Plot No.3, Gurudev Nagar, Pakhowal Road,
Ludhiana – 141 001, Punjab, India |
|
Tel. No.: |
91-161-2412162 |
|
Fax No.: |
91-161-2404144 |
|
E-Mail : |
|
|
Area : |
300 Sq.yds. |
DIRECTORS
|
Name : |
Mr. Gurbax Singh Bedi |
|
Designation : |
Director |
|
Address : |
3140, Gurdev Nagar, Ludhiana, Punjab, India |
|
Date of Appointment : |
08.07.2003 |
|
|
|
|
Name : |
Mr. Amarjit Singh Bedi |
|
Designation : |
Director |
|
Address : |
9, Manna Singh Colony, Ludhiana, Punjab, India |
|
Date of Appointment : |
08.07.2003 |
|
|
|
|
Name : |
Mr. Ranjish Bedi |
|
Designation : |
Director |
|
Address : |
3140, Gurdev Nagar, Ludhiana, Punjab, India |
|
Date of Appointment : |
08.07.2003 |
|
|
|
|
Name : |
Mr. Sidharth Bedi |
|
Designation : |
Director |
|
Address : |
9, Manna Singh Colony, Ludhiana, Punjab, India |
|
Date of Appointment : |
08.07.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
|
Names of Shareholders |
No. of Shares |
|
Sidharath Bedi S/o A.S. Bedi |
112500 |
|
A.S. Bedi S/o I. S. Bedi |
637500 |
|
Harjit Kaur W/o G. S. Bedi |
30000 |
|
G. S. Bedi S/o I. S. Bedi |
697500 |
|
Gurveen Kaur |
20000 |
|
Rajnish Bedi S/o G. S. Bedi |
2500 |
|
|
|
|
Total |
1500000 |
Equity shares Breakup (percentage of total equity)
(As on 29.09.2007)
|
Category |
Percentage |
|
Other top fifty (50) shareholders |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealer of Samsung Electronics |
|
|
|
|
Agencies Held : |
·
Song ·
LG ·
Hitachi ·
IFB and General ·
Samsung India Limited |
|
|
|
|
Terms : |
|
|
Selling : |
Cash |
|
|
|
|
Purchasing : |
Credit – 21 days |
GENERAL
INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
25 |
|
|
|
|
Bankers : |
State Bank of
India Civil Lines,
Ludhiana – 141 001, Punjab, India |
|
|
|
|
Facilities : |
CC Rs.30.000 millions |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Khanna Anil Associates Chartered Accountants |
|
Address : |
Green Field, Ludhiana – 141 002, Punjab, India |
|
|
|
|
Associates/Subsidiaries : |
Bedi Steels Private Limited, Ludhiana |
|
|
|
|
Sister Concerns : |
·
Bedi Trading Private Limited, Ludhiana ·
Bedi Electric Company, Ludhiana |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
15.000 |
0.150 |
|
|
2] Share Application Money |
|
0.112 |
0.001 |
|
|
3] Reserves & Surplus |
|
13.274 |
0.107 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
28.386 |
0.258 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
45.135 |
0.467 |
|
|
2] Unsecured Loans |
|
19.935 |
0.197 |
|
|
TOTAL BORROWING |
|
65.070 |
0.664 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
93.456 |
0.922 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
20.927 |
0.089 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
52.636 |
0.523 |
|
|
Sundry Debtors |
|
13.996 |
0.270 |
|
|
Cash & Bank Balances |
|
8.025 |
0.066 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
6.385 |
0.065 |
|
Total
Current Assets |
|
81.042 |
0.924 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
6.693 |
0.066 |
|
|
Provisions |
|
1.910 |
0.025 |
|
Total
Current Liabilities |
|
8.603 |
0.091 |
|
|
Net Current Assets |
|
72.439 |
0.833 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.090 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
93.456 |
0.922 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007 |
31.03.2006 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.60 |
2.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
9.42 |
10.15 |
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
|
Name of the company |
BEDI TRADING PRIVATE LIMITED |
||||||||||
|
Presented By |
Mr. Amarjit Singh
Bedi, Director |
||||||||||
|
1) Date and description of instrument creating the change |
Agreement of Loan
overall limits, Agreement Hypothecation of Goods and Assets dated 18.10.2004
(Regd. on 17.12.2004) |
||||||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.40.000
millions |
||||||||||
|
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 |
Hypothecation of
Stocks of Finished Goods and Book Debts of Company. |
||||||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest
@ 11.00%, Payable on Demand, extent of operation 100%. |
||||||||||
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of
India Civil Lines,
Ludhiana. |
||||||||||
|
6) Date and brief description of instrument modifying the charge |
Letter of
Agreement vide From SME-1, SME-3, SME-4, SME-7, SME-8 and SME-12 Dated
21.01.2006. |
||||||||||
|
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. |
Limits increased
to Rs.50.500 millions.
·
Margin: Finished
Goods 25% and Domestic Receivables 40%. ·
Other Terms:
As per Bank rules, Extent of operation 100%. |
|
Corporate
identity number of the company |
U51395PB2003PTC026172 |
||||||||||
|
Name of the
company |
BEDI TRADING PRIVATE LIMITED |
||||||||||
|
Address of the
registered office or of the principal place of business in India of the company |
G T Road, Miller
Ganj, Ludhiana, Punjab, India |
||||||||||
|
This form is for |
Modification of
charge |
||||||||||
|
Type of charge |
·
Book debts ·
Others |
||||||||||
|
Particular of charge
holder |
State Bank of
India Civil Lines,
Ludhiana – 141 001, Punjab, India |
||||||||||
|
Nature of
instrument creating charge |
Letter of
arrangement SME-1 |
||||||||||
|
Date of
instrument Creating the charge |
28.10.2007 |
||||||||||
|
Amount secured by
the charge |
Rs.40.000 millions |
||||||||||
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
Interest SBAR i.e. @ 12.75% ·
Terms of
repayment As per bank rules ·
Margin Finished goods 25% Domestic receivables 40% ·
Extent and operation
of the charge 100% |
||||||||||
|
Particulars of
the property charged |
First charge by
way of hypothecation of entire existing and future current assets of the
company. |
||||||||||
|
Particulars of
the present modification |
Limits are
revised as under :
|
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.43.34 |
|
UK Pound |
1 |
Rs.86.53 |
|
Euro |
1 |
Rs.68.54 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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. |
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 |
|