MIRA
INFORM REPORT
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Report Date : |
15.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
HILLTOP STONES PRIVATE LIMITED |
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Formerly Known As : |
HILLTOP EXPORTS |
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Registered Office : |
No. 1/18, 1/19, 1/4-1, 1/4-3, Bannerghatta Road, Near Mico Back Gate,
Bangalore – 560 030, Karnataka |
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Country : |
India |
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Date of Incorporation : |
01.04.2008 |
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Com. Reg. No.: |
045863 |
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CIN No.: [Company
Identification No.] |
U26949KA2008PTC045863 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRH03751G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of gangsaw sizes granite slabs. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is successor to Hilltop Exports, an established concern. Trade
relations are fair. Payments are usually correct and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Sandip Biswas |
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Designation : |
Exports Manager |
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Contact No.: |
91-9972935513 |
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Date : |
09.07.2008 |
LOCATIONS
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Registered Office : |
No. 1/18, 1/19, 1/4-1, 1/4-3, Bannerghatta Road, Near Mico Back Gate,
Bangalore – 560 030, Karnataka, India |
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Tel. No.: |
91-80-22484996 / 22484997 / 22484998 / 22227778 / 22227779 / 2291366 /
32714227 |
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Fax No.: |
91-80-22228026 |
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E-Mail : |
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Website : |
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Area : |
2000 Sq. ft. (Showroom and Office) |
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Location : |
Owned |
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Factory 1 : |
220/2 B Thyagarasanapally Po Shoolagiri, 635 117, Hosur Taluk,
Bangalore – 560 030, Karnataka, India |
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Tel. No.: |
91-80-22228026 |
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Fax No.: |
91-80-22228026 |
DIRECTORS
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Name : |
Mr. Nilesh Giria |
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Designation : |
Director |
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Date of Birth/Age : |
34 Years |
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Qualification : |
B.Tech |
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Name : |
Mr. Kamal Giria |
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Designation : |
Director |
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Date of Birth/Age : |
40 Years |
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Qualification : |
B.Com |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 27.03.2008)
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Names of Shareholders |
No. of Shares |
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Kamlesh Kumar Jain |
14286 |
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Nilesh Giria |
14286 |
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Premlata Jain |
14286 |
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Pramila Jain |
14286 |
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Sanjana Jain |
14286 |
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Varsha Jain |
14285 |
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Vimal Jain |
14285 |
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Total |
100000 |
List of Allotment
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Names of Shareholders |
No. of Shares |
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Kamlesh Kumar Jain |
14286 |
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Premlata Jain |
14286 |
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Pramila Jain |
14286 |
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Sanjanna Jain |
14286 |
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Varsha Jain |
14285 |
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Vimal Jain |
14285 |
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Nilesh Giria |
14286 |
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Total |
100000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of gangsaw sizes granite slabs. |
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Exports : |
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Countries : |
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All Over World ·
US ·
Canada ·
Middle East ·
Italy ·
Norway |
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Imports : |
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Products : |
Spare parts and machines |
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Countries : |
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China ·
European Countries ·
Belgium ·
Italy ·
Germany ·
Poland |
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Terms : |
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Selling : |
L/C, Cash and Credit – 30 Days |
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Purchasing : |
L/C, Cash and Credit – 120 Days |
GENERAL INFORMATION
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Customers : |
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Wholesalers ·
Retailers ·
End Users |
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No. of Employees : |
60 |
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Bankers : |
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UCO Bank MIDC Corporate Branch, No. 13/22, 1st
Floor, K. G. Road, Bangalore – 560 009, Karnataka, India ·
ABN Amro Bank |
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Facilities : |
Term Loan |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Vimal and Company Chartered Accountants |
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Address : |
Bangalore |
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Sister Concern : |
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Hilltop Granites Private Limited 14/1, Bannerghatta Main Road, Bangalore –
560 030, Karnataka, India Line
of Business : Manufacturer of block cutter slabs. ·
Maruti Industrial Corporation 16/1, Basavanahalli Village, Dodballapur
Road, Nelamangala Taluk, Karnataka, India Line
of Business : Manufacturer of tiles. |
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Group Companies : |
Hilltop Stones Line of Business
:
Largest stockyard for granites slabs in south India. |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
As the subject is a new company, no financials
are yet available.
LOCAL AGENCY
FURTHER INFORMATION
History
Subject was originally started in the year
1988 under the name of Hilltop Exports as partnership concern, However, from
01.04.2008. Company’s name is changed to Hilltop Stones Private Limited.
This information is confirmed by Mr. Sandip Biswas. Exports manager of
the company.
Trade References :
·
Maldini Granites – Nigeria
·
Teko Granites – Germany
·
Bari Granites – Hungry
Form No. 8
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Corporate identity
number of the company |
U26949KA2008PTC045863 |
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Name of the
company |
HILLTOP STONES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
No. 1/18, 1/19, 1/4-1, 1/4-3, Bannerghatta Road, Near Mico Back Gate,
Bangalore – 560 030, Karnataka, 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) |
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Particular of
charge holder |
UCO Bank MIDC Corporate Branch, No. 13/22, 1st Floor, K. G. Road,
Bangalore – 560 009, Karnataka, India |
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Nature of
instrument creating charge |
·
Deed of
Hypothecation ·
Hypothecation
of Goods to secure a demand Cash Credit ·
Hypothecation
and Book Debts to secure demand Cash Credit ·
Deed of Hypothecation
of movable plant and machinery to secure a term loan ·
Agreement
RE: Inland/Foreign Bills Pur and Advance against bills in course of
collection |
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Date of
instrument Creating the charge |
23.04.2008 |
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Amount secured by
the charge |
Rs.130.900
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
Interest CC/P/FBP: at the rate of 3.50% p.a. below PLR i.e. 10% p.a. TL 1: at the rate 14% p.a. (PTLR + 0.50%) TL 2: at the rate 14% p.a. (PTLR + 0.50%)C ·
Terms of
repayment CC/PC/FBP: Repayable on demand TL 1: Repayable in 72 installments of Rs.0.651 millions each TL 2: Repayable in 84 installments of Rs.0.881 millions each ·
Margin Margin TL 1, TL 2 and PC 25% Foreign bills 10% ·
Extent and
operation of the charge Hypothecation charge over entire stocks, book debts, plant and
machineries, equipments and other movable assets and mortgage/extension of
immovable properties of the company. (erstwhile firm HILLTOP EXPORTS business, assets, liabilities incl.
all the debtors, creditors acquired by HILL TOP STONES PRIVATE LIMITED) TL – WIND MILL: Rs.46.900 millions, TL – Granite Unit: 74.000 millions
and EPC/FBP:Rs.10.000 millions |
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Particulars of
the property charged |
Hypothecation of
present and future All stocks of Granite, Raw Materail, work in process,
finished goods, granite slabs, tiles, paving stones, kerbs etc, wind mill
turbine unite and other accessories, towers, transformers, plant and
machineries and other movable assets and charge on all book debts as well as
domestic and export receivables, bills belonging to the company. |
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.42.82 |
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UK Pound |
1 |
Rs.84.89 |
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Euro |
1 |
Rs.68.07 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
YES |
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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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54 |
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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