MIRA INFORM REPORT

 

 

 

Report Date :

07.06.2008

 

IDENTIFICATION DETAILS

 

Name :

ACCURATE FABOX PRIVATE LIMITED

 

 

Registered Office :

213, Vardhman Complex, Johari Bazar, Jaipur - 302002, Rajasthan

 

 

Country :

India

 

 

Financials (as on) :

31.03.2007

 

 

Date of Incorporation :

09.04.1992

 

 

Com. Reg. No.:

17-6639

 

 

CIN No.:

[Company Identification No.]

U27107RJ1992PTC006639

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

JPRA03134F

 

 

PAN No.:

[Permanent Account No.]

AABCA5564A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Steel Structure

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 16000

 

 

Status :

Small Company

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a relatively small company meeting its smaller commitments timeously. Trade relations are fair.

 

The company can be considered good for small to mediocre business dealings. 

 

 

INFORMATION PARTED BY

 

Name :

Mr. Anil Kumar Sharma

Designation :

Accountant

Date :

03.06.2008

 

 

LOCATIONS

 

Registered Office :

213, Vardhman Complex, Johari Bazar, Jaipur - 302002, Rajasthan, India 

Tel. No.:

91-141-2616147

E-Mail :

Accurate_fabox213@yahoo.co.in

Area :

Rented

 

 

Branches :

B – 11, Shopping Centre – Sethi Colony, Govind Marg, Jaipur – 302004, Rajasthan, India

Tel. No.:

91-141-2616147 / 2601800

Mobile No.:

91-9829055499 / 98288277969

Fax No.:

91-141-5121095

 

 

DIRECTORS

 

Name :

Mr. Ghanshyam Kala

Designation :

Director

Address :

A – 97 Janta Colony, Jaipur – 302004, Rajasthan

Date of Birth/Age :

01.07.1958

Qualification :

B. Com

Date of Appointment :

09.04.1992

 

 

Name :

Miss. Neha Kala

Designation :

Director

Address :

A – 7, Sethi Colony, Jaipur – 302004, Rajasthan

Date of Birth/Age :

11.09.1984

Qualification :

Post Graduate

Date of Appointment :

15.05.2004

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2005

 

Names of Shareholders

 

No. of Shares

 

Ghan Shyam Kala

 

26500

Sushila Agarwal

 

8500

Kusum Kala

 

13250

Manish Agarwal

 

2500

Kunj Bihari Agarwal

 

3900

Sudha Mangal

 

5000

Vimla Kala

 

8570

Mohan Lal Agarwal

 

20000

Ravi Raj Sharma

 

5500

Pushpa Jain

 

4500

Kanta Agarwal

 

6780

Anupam Agarwal

 

10000

Chandra Kanta Agarwal

 

15000

Gaura Devi Modi

 

20000

Total

 

150000

 

AS ON 30.09.2007

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Directors or relatives of directors

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Steel Structure

 

 

Terms :

 

Selling :

L/C and Credit

 

 

Purchasing :

Credit

 

 

GENERAL INFORMATION

 

Customers :

Government Project

 

 

No. of Employees :

5

 

 

Bankers :

State Bank of Bikaner and Jaipur, Johari Bazar, Jaipur – 302003, Rajasthan, India 

 

 

Facilities :

Total about 10.000 Millions [BG, CC of Rs. 0.400 Million]

 

 

 

Banking Relations :

Satisfactory

 

 

Auditors :

 

Name :

Dinesh Chand Jain and Company

Chartered Accountants

Address :

223-224, Shanti Complex, Chhoti Chopar, Jaipur – 302002, Rajasthan, India

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2007

 

Authorised Capital :

No. of Shares

Type

Value

Amount

400000

Equity Shares

Rs. 10/- each

Rs. 4.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

400000

Equity Shares

Rs. 10/- each

Rs. 4.000 Millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2007

31.03.2006

31.03.2005

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

1.500

1.500

1.500

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

1.758

1.612

1.288

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

3.258

3.112

2.788

LOAN FUNDS

 

 

 

1] Secured Loans

6.483

5.512

4.359

2] Unsecured Loans

8.116

6.558

2.808

TOTAL BORROWING

14.599

12.070

7.167

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

17.857

15.182

9.955

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

3.955

2.190

1.566

Capital work-in-progress

0.000

0.000

0.000

 
 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
6.035

8.381

4.755

 

Sundry Debtors
17.807

12.196

4.339

 

Cash & Bank Balances
1.737

0.609

0.015

 

Other Current Assets
0.000

0.000

0.000

 

Loans & Advances
6.451

4.957

0.945

Total Current Assets
32.030

26.143

10.054

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Current Liabilities
17.948

13.003

1.665

 

Provisions
0.180

0.148

0.000

Total Current Liabilities
18.128

13.151

1.665

Net Current Assets
13.902

12.992

8.389

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

17.857

15.182

9.955

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2007

31.03.2006

31.03.2005

Debt Equity Ratio

(Total Liability/Networth)

 
10.05

8.10

3.17

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.77

1.99

6.04

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Trade Reference

 

 

Bankers Charges Report as per Registry

 

 

This form is for

Modification of charge

Charge identification number of the modified 

90073806

Corporate identity number of the company

U27107RJ1992PTC006639

Name of the company

ACCURATE FABOX PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

213, Vardhman Complex, Johari Bazar, Jaipur - 302002, Rajasthan

Type of charge
  • Immovable Property
  • Book Debts
  • Movable Property

Particular of charge holder

State Bank of Bikaner and Jaipur, Johari Bazar, Jaipur – 302003, Rajasthan, India 

sbbj10029@sbbj.co.in

Nature of description of the instrument creating or modifying the charge

  • Agreement of hypothecation of goods and assets
  • Letter regarding grant of individual limit within the overall limit
  • Agreement of loan for overall limit
  • Guarantee for overall limit  

Date of instrument Creating the charge

19.04.2008

Amount secured by the charge

Rs. 10.000 Millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest

On Cash Credit [Hypo] @ 13 % p.a.

On Bank Guarantee @ BPLR

 

Terms of Repayment

On Demand

 

Margin

On Raw Material 25 %

On Stock in process 35 %

On Book Debts / receivable 50 %

 

Extent and Operation of the charge

  • Hypothecation of movable machinery, tools, equipments, stores and all types of stock whether raw or in process or finished, situated at F – 8 RIICO Industrial area, Herawala, Jaipur
  • Hypothecation of all present and future book debts, money, receivables etc
  • Equitable mortgage of factory land and building situated at F – 8 RIICO Industrial area, Herawala, Jaipur     

Short particulars of the property charged
  • Hypothecation of movable machinery, tools, equipments, stores and all types of stock whether raw or in process or finished, situated at F – 8 RIICO Industrial area, Herawala, Jaipur
  • Hypothecation of all present and future book debts, money, receivables etc
  • Equitable mortgage of factory land and building situated at F – 8 RIICO Industrial area, Herawala, Jaipur     

Date of latest modification prior to the present modification

01.02.2003

Particulars of the present modification 

Cash credit limit enhanced from Rs. 3.500 Millions to Rs. 4.000 Millions and Bank Guarantee from Rs. 2.000 Millions to Rs. 6.000 Millions Overall limit enhanced from Rs. 5.500 Millions to Rs. 10.000 Millions

 

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.42.79

UK Pound

1

Rs.83.77

Euro

1

Rs.66.71

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

2

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

 

34

 

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions