MIRA
INFORM REPORT
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Report Date : |
15.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
ATLAS PROTECTIVE PRODUCTS DIVISION OF ACCENT INDUSTRIES LIMITED |
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Registered Office : |
14, Netaji Subhash Road, Kolkata – 700001, West Bengal |
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Country : |
India |
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Date of Incorporation : |
10.03.1992 |
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Com. Reg. No.: |
101415 |
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CIN No.: [Company
Identification No.] |
U99999WB1992PLC101415 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALA08422B |
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PAN No.: [Permanent
Account No.] |
AAACA3675Q |
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Legal Form : |
A closely held public limited liability company. |
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Line of Business : |
Manufacture of Gloves / Hospital Gloves |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Delayed |
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Litigation : |
Unknown |
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Comments : |
The company is poor in Corporate Governance. In absence of financial and business details, it would be prudent to
deal with the company on safe and secured trade terms and conditions, initially. |
LOCATIONS
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Registered Office : |
14, Netaji Subhash Road, Kolkata – 700001, West Bengal, India |
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Tel. No.: |
91-33-22313414 |
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Mobile No.: |
91-9339482656 |
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Fax No.: |
91-33-22303663 |
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E-Mail : |
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Website : |
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Area : |
Small sq. ft. [Rented] |
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Factory : |
430 B, Kewal Industrial Estate, Senapati Bapat Marg, Lower Parel,
Mumbai – 400013, Maharashtra, India |
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Tel. No.: |
91-22-24924111 / 12 |
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Fax No.: |
91-22-24924111 |
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Branches : |
144/A, Mittal Tower, Nariman Point, Mumbai – 400021, Maharashtra,
India |
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Tel. No.: |
91-22-22824075 |
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Fax No.: |
91-22-22873022 |
DIRECTORS
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Name : |
Mr. Basant Kumar Goenka |
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Designation : |
Director |
BUSINESS DETAILS
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Line of Business : |
Manufacture of Gloves / Hospital Gloves |
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Products : |
Safety Product -
Hand Protection -
Full Body Protection -
Eye Protection -
Ear Protection -
Reparatory Protection -
Fall Protection -
Foot Protection |
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Imports : |
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Products : |
Protection Products |
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Countries : |
Far East |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
Around 20 |
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Bankers : |
Not divulged |
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Banking
Relations : |
-- |
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Associates/Subsidiaries : |
Not divulged |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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503,000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.030
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
No financials are available from any sources.
Several attempts made to update this report but management remained
non-cooperative.
The company is very poor in Corporate Governance as it failed to file
financials and documents since incorporation.
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Particulars |
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31.03.2007 [Estimated] |
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Sales Turnover |
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25.000 |
LOCAL AGENCY
FURTHER INFORMATION
PROFILE
For years, the Indian safety industry has been dominated by small-scale
manufacturers and traders. Awareness of the latest products and technologies
has been limited, and safety officers in a wide range of industries have had to
restrict their requirements to what is available rather than what is actually
needed by them.
ATLAS PROTECTIVE PRODUCTS TM was formed in the year 2004 as a
division of Accent Industries Ltd., to end this. By creating awareness of any
by economically providing Indian companies with the standard of safety
solutions available to their international counterparts. ATLAS PROTECTIVE
PRODUCTS TM hopes to assist the domestic industry in creating a better
workplace for their employees.
ATLAS PROTECTIVE PRODUCTS TM uses European, US and japanese quality
standards to design safety solutions for India, keeping in mind the fundamental
differences between India and other countries. The products are CE certified as
per the relevant European Norms and are manufactured in India and
internationally by the same workers and machines which make products for Japanese,
European and American end users.
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.40.45 |
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UK Pound |
1 |
Rs.82.25 |
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Euro |
1 |
Rs.63.20 |
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 |
4 |
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OPERATING SCALE |
1~10 |
- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
- |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
- |
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--LEVERAGE |
1~10 |
- |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
- |
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--MARGINS |
-5~5 |
2 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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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 |
NO |
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TOTAL |
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12 |
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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