MIRA
INFORM REPORT
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Report Date : |
07.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
S P COATS PRIVATE LIMITED |
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Registered Office : |
No. 3/1, Muneswara Nagar, Near Government School, Hegganahalli, Bangalore
- 560091, Karnataka |
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Country : |
India |
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Date of Incorporation : |
31.08.2006 |
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Com. Reg. No.: |
40368 |
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CIN No.: [Company
Identification No.] |
U25209KA2006PTC040368 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and exporter of telecommunication equipments |
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 : |
New Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and its first financials are awaited. The
company claims to have registered satisfactory business during the first full
year of its operations. 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. |
INFORMATION PARTED
BY
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Name : |
Mr. Anil Bhandari |
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Designation : |
Director |
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Contact No.: |
91-9343794572 |
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Date : |
05.06.2008 |
LOCATIONS
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Registered Office : |
No. 3/1, Muneswara Nagar, Near Government School, Hegganahalli,
Bangalore - 560091, Karnataka, India
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Tel. No.: |
91-80-28360403 |
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Mobile No.: |
91-9343794572 |
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E-Mail : |
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Website : |
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Area : |
2800 sq. ft. [Rented] |
DIRECTORS
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Name : |
Mr. Anil Bhandari |
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Designation : |
Director |
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Address : |
No. 990, J 12th Cross, Kalappa Block, Srinagar, Bangalore –
560050, Karnataka, India |
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Date of Birth/Age : |
02.06.1965 |
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Qualification : |
B. Com |
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Name : |
Mrs. Manju Bhandari |
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Designation : |
Director |
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Address : |
No. 990, J 12th Cross, Kalappa Block, Srinagar, Bangalore –
560050, Karnataka, India |
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Date of Birth/Age : |
38 Years |
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Name : |
Mr. T. G. S. Murthy |
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Designation : |
Director |
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Address : |
No. 4/1 A-42, 3rd Main Road, Puttenahalli, J. P. Nagar 7th
Phase, Bangalore – 560078, Karnataka, India |
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Date of Birth/Age : |
30.05.1941 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and exporter of telecommunication equipments |
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Products : |
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Exports : |
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Products : |
PVC Profile, WPT, Cable, Electrical Pipe and Water Connection
Pipe |
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Countries : |
Dubai and Holland |
GENERAL
INFORMATION
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No. of Employees : |
16 |
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Bankers : |
Canara Bank Hanumanth Nagar, Bangalore – 560019, Karnataka, India |
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Facilities : |
O/D and Term Loan |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Venkat Raj and Associates Chartered Accountants |
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Address : |
Bangalore |
CAPITAL STRUCTURE
Authorised 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 |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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Not Available |
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FINANCIAL DATA
[all figures are in Rupees Millions]
New Company
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Particulars |
31.03.2009 [Expected] |
31.03.2008 |
31.03.2007 |
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Sales Turnover |
10.000 |
9.500 |
6.000 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE
CHART
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Parameters |
Details |
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Statutory Approvals |
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Incoem Tax Registration |
AALC5617S |
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VAT/ TIN Registration |
29400724091 |
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Name of Bank |
Canara Bank |
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Current Account Number |
472261005849 |
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Account Since |
2001 |
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Credibility Factors |
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IndiaMART Client Since |
3 Years |
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Trade Affiliations |
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SSI Registration |
Yes |
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Export Promotion Council |
Applied |
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Chambers of Commerce Membership |
No |
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Standards & Certifications |
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Quality Management Systems |
ISO 9001 : 2000 |
Trade Reference
- Aeroli International
- Ankush Sasp India Private Limited
- Rashmi Enterprises
Bankers Charges
Report as per Registry
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U25209KA2006PTC040368 |
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Name of the
company |
S P COATS PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in India of the company |
3/1, Muneswara Nagar, Near Government School, Hegganahalli, Bangalore,
Karnataka, India |
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Type of charge |
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Particular of
charge holder |
Canara Bank Hanumanth Nagar, Bangalore – 560019, Karnataka, India |
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Nature of
description of the instrument creating or modifying the charge |
Cash Credit
Agreement |
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Date of
instrument Creating the charge |
24.09.2007 |
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Amount secured by
the charge |
Rs. 0.900 Million |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 12.50 %
p.a. for OCC and Term Loan [OCC – Rs. 0.600
Million / Term loan Rs. 0.300 Million] Terms of
Repayment OCC Repayable in
60 Monthly installmetns of Rs. 0.007 Million each Margin Margin Extent and
Operation of the charge 100 % till the
closure of the loan |
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Short particulars
of the property charged |
Hypothecation of
all the present and future stock of raw materials, goods in process of
manufactured and all finished and semi finished and manufactured articles
such as coating powder, PVC Pipes etc. goods, stores, spares etc., are stored
at 3/1,
Muneswara Nagar, Near Government School, Hegganahalli, Bangalore, Karnataka,
India and all book debts,
outstanding monies, receivables, claims etc fro OCC and hypothecation of
plant and machineries like brand new hot – air circulator machinery, ovens,
powder coating tank etc, for term loan
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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.42.79 |
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UK Pound |
1 |
Rs.83.77 |
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Euro |
1 |
Rs.66.71 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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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 |
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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28 |
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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