MIRA
INFORM REPORT
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Report Date : |
05.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
BCC OVERSEAS PRIVATE LIMITED |
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Registered Office : |
K-1, Green Park Main, Delhi – 110016 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
04.05.1994 |
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Com. Reg. No.: |
55-058775 |
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CIN No.: [Company
Identification No.] |
U74899DL1994PTC058775 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELB09666G |
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PAN No.: [Permanent
Account No.] |
AACCB0125C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Leather Garments and Leather
Goods |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Recently Started Activities |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
The Management of the subject has been taken over by Mr. Anil Kumar
Jain on 01.04.2007 and Sales started only in June-July 2007. Company’s first financials are
awaited. Trade relations are fair. Payments are reported as slow but correct. The Company can be considered for small to mediocre business dealings
with slight caution initially. |
LOCATIONS
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Registered Office : |
K-1, Green Park Main, Delhi – 110016, India |
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Email : |
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Corporate Office/ Factory : |
289 Chattarpur Pahari Road, Near Dhan Mills, New Delhi 110074, India |
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Tel. No.: |
91-11-30680661-5 / 26302130 |
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Fax No.: |
91-11-26301287/2099 |
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E-Mail : |
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Area : |
1250 Sq. yards per fllor |
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Location : |
Owned |
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Branch Office 1 : |
28 B, Sipcot Industrial Area, Ranipet, Tamilnadu, India |
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Area : |
1 acre |
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Location : |
Owned by Group company |
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Branch Office 2: |
B-6, Sector 63, Noida, Uttar Pradesh, India |
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Area : |
20000 Sq. fts. |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Naresh Chand Jain |
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Designation : |
Director |
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Address : |
D-35, Panchsheel Enclave, New Delhi 110017, India |
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Name : |
Mr. Manit Jain |
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Designation : |
Director |
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Address : |
12, Sultanpur Farms, Mehrauli, New Delhi, India |
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Name : |
Mr. Anil Kumar Jain |
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Designation : |
Director |
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Address : |
212, Gautam Nagar, Delhi 110049, India |
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Date of Birth/Age : |
27.07.1955 |
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Qualification : |
Graduate |
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Date of Appointment : |
21.03.2007 |
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Name : |
Sangeeta Jain |
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Designation : |
Director |
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Address : |
212, Gautam Nagar, Delhi 110049, India |
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Date of Birth/Age : |
09.12.1961 |
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Qualification : |
Graduate |
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Date of Appointment : |
21.03.2007 |
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Name : |
Mr. Gaurav Jain |
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Designation : |
Director |
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Address : |
212, Gautam Nagar, Delhi 110049, India |
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Date of Birth/Age : |
23.09.1974 |
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Date of Appointment : |
21.03.2007 |
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Name : |
Mr. Ajay Kumar Agarwal |
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Designation : |
Director |
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Address : |
House No. 32, Sector 16A, Faridabad 121002, Haryana, India |
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Date of Birth/Age : |
20.08.1967 |
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Date of Appointment : |
21.03.2007 |
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Name : |
Mr. Rajesh Jain |
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Designation : |
Director |
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Address : |
D-35, Panchsheel Enclave, New Delhi 110017, India |
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Date of Birth/Age : |
01.02.1968 |
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Date of Appointment : |
21.03.2007 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2006)
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Names of Shareholders |
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Percentage of Holding |
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Equity Share
Break-up |
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Directors or relatives of the Directors |
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99.83 |
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Other top fifty shareholders |
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0.17 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Leather Garments and Leather
Goods |
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Exports : |
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Products : |
All Products |
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Countries : |
· USA · UK · Europe · Spain · Hong Kong · France · Kuwait · Sweden · Germany · Italy |
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Imports : |
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Products : |
Leather Skins |
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Countries : |
· Kenia · Sudan · Dubai · UK |
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Terms : |
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Selling : |
CAD and Credit [45 days] |
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Purchasing : |
Cash and Credit [30 days] |
GENERAL
INFORMATION
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No. of Employees : |
40 |
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Bankers : |
· Punjab National
Bank · Kotak Mahindra
Bank Cannought place branch, New Delhi, India |
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Facilities : |
Term Loan Rs. 5.000 Millions Fund Base Rs. 25.000 Millions and Non Fund Base Rs. 3.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Kumar Chopra and Associates Chartered Accountants |
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Address : |
Maharani Baug, New Delhi, India |
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Name : |
Rajeshwar Praveen and Company Chartered Accountant |
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Address : |
106, Neelkanth House, S-524, School Block, Shakarpur, Delhi – 110092,
India |
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Tel No.: |
91-11-22482258/ 65267887 |
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Email : |
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Associates/Subsidiaries : |
Ř Fashion Club
Global Ř Bluebird
Overseas Private Limited Ř AB International
[Formerly name Sunshine Leather] Address : 289Chattarpur Pahari Road, Near Dhan Mills, New Delhi
110074, India Line of Business : Manufacturer, Exporter and Importer of Leather
Garments and Leather Goods |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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60000 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.600
Million |
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By March 2008 Proposed:
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs. 10/- each |
Rs. 15.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs. 10/-
each |
Rs.15.000 Millions |
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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 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.576 |
0.576 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
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[0.622] |
[0.618] |
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NETWORTH |
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[0.046] |
[0.042] |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.118 |
0.119 |
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TOTAL BORROWING |
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0.118 |
0.119 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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0.072 |
0.077 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
0.000 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances |
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0.077 |
0.080 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.000 |
0.000 |
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Total
Current Assets |
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0.077 |
0.080 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.005 |
0.003 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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0.005 |
0.003 |
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Net Current Assets |
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0.072 |
0.077 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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0.072 |
0.077 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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NA |
NA |
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Other Income |
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NA |
NA |
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Total Income |
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NA |
NA |
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Profit/(Loss) Before Tax |
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(0.005) |
(0.002) |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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(0.005) |
(0.002) |
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Total Expenditure |
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0.005 |
0.002 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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(6.49) |
(2.50) |
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Return on Investment (ROI) (PBT/Networth) |
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0.11 |
0.05 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.67 |
2.90 |
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Current Ratio (Current Asset/Current Liability) |
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15.40 |
26.66 |
LOCAL AGENCY
FURTHER INFORMATION
Note:
BCC Overseas and BCC Overseas Private Limited the 2 companies were
started by some Jain Group long back but BCC Overseas Private Limited was taken
over by Mr. Anil Kumar Jain Since 1st April, 2007 and Sales started
only in [June-July 2007]
TRADE REFERENCES:
· Atleast SA
· Cogedam
· Monsoon Accessories UK
· John Lewis
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 records 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. 42.63 |
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UK Pound |
1 |
Rs. 83.40 |
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Euro |
1 |
Rs. 65.80 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
-- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
YES |
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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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26 |
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 |
|
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 |
|
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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