MIRA
INFORM REPORT
|
Report Date : |
15.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
MMP EXIM PRIVATE LIMITED |
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Formerly Known As : |
CENTURY PLANTATION PRIVATE LIMITED |
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Registered Office : |
2 C, Narayani, 2 A Sarat Bose Road, Kolkata – 700020, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
19.09.1983 |
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Com. Reg. No.: |
21 – 95268 |
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CIN No.: [Company
Identification No.] |
U28991WB1983PTC095268 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Wholesalers of Textile, Clothing and Footwear. |
RATING &
COMMENTS
|
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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Maximum Credit Limit : |
USD 58248 |
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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company in its field. Scale of operation
is limited. No payments could be made available. The company can be considered for small to mediocre business dealings
with slight caution, initially. No clean credit can be granted. |
LOCATIONS
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Registered Office : |
2 C, Narayani, 2 A Sarat Bose Road, Kolkata – 700020, West Bengal,
India |
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Tel. No.: |
91-33-24753500 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr. Krishna Kumar Todi |
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Designation : |
Director |
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Address : |
22, Madan Mohan Talla Street, Kolkata – 700005, West Bengale, India |
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Date of Birth/Age : |
10.01.1946 |
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Date of Appointment : |
14.12.1996 |
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Name : |
Mr. Sanjay Kumar Todi |
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Designation : |
Director |
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Address : |
22, Madan Mohan Talla Street, Kolkata – 700005, West Bengale, India |
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Date of Birth/Age : |
01.03.1964 |
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Date of Appointment : |
14.12.1996 |
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Name : |
Mr. Ashish Todi |
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Designation : |
Director |
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Address : |
22, Madan Mohan Talla Street, Kolkata – 700005, West Bengale, India |
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Date of Birth/Age : |
21.02.1970 |
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Date of Appointment : |
01.08.2006 |
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Tel No.: |
91-33-25542881 |
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Fax No.: |
91-33-25337739 |
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Name : |
Mr. Nilesh Todi |
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Designation : |
Director |
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Address : |
22, Madan Mohan Talla Street, Kolkata – 700005, West Bengale, India |
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Date of Birth/Age : |
24.11.1975 |
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Date of Appointment : |
14.12.1996 |
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Other Directorship Company : |
Arintex Global Limited Director U17111WB1996PTC077733 MMP Water Tech Private Limited Director U28991WB2002PTC095269 Eros Fashion Private Limited Director U51909WB2003PTC096277 MMP-Filteration Private Limited Director U29197WB2003PTC096050 Splendid Tower Private Limited Director U70101WB1996PTC081678 Hiramoti Tracon Private Limited Director U51109WB2004PTC079230 Multi Media Insurance Mediator Private Limited Director U67190WB2004PTC098435 Kala Niketan Properties Private Limited Director U70101WB1995PTC075592 |
KEY EXECUTIVES
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Name : |
Mr. Gautam Dugar |
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Designation : |
Company Secretary |
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Address : |
“Ganges Garden”, BL-A-1, 3rd Floor – 106, K C S Road,
Shibpur, Howrah – 711102 |
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Tel No.: |
91-26385571 |
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Mobile : |
91-9831255762 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 27.09.2005)
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Names of Shareholders |
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No. of Shares |
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Mr. Krishna Kumar Todi |
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250 |
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Mr. Om Prakash Todi |
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250 |
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Mrs. Laxmi Kant Todi |
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250 |
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Mr. Sanjay Kumar Todi |
|
510 |
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Mr. Sarla Devi Todi |
|
250 |
|
Classic Marketing Agencies Private Limited |
|
5000 |
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Mr. Gyan Prakash Gupta |
|
2000 |
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Narendra Kumar Rajgaria |
|
2000 |
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Mrs. Uma Todi |
|
6000 |
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Mr. Kailash Chand Kothari |
|
2000 |
|
Stead Traders Private Limited |
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5000 |
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Mr. Mahabdra Prasad Sharma |
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1000 |
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Mr. Ramavtar Agarwala |
|
2000 |
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Mr. Kishorlal Agarwal |
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2000 |
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Mr. Sanjay Kumar Agarwal |
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2000 |
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Mr. Bateshwar Sharma |
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2000 |
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Mr. Rajiv Kant Mishra |
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1500 |
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Mr. Niraj Kumar Jain |
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2000 |
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Mr. Bishnd Kumar Mandholia |
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2000 |
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Sunita Impex Private Limited |
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14000 |
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Mr. Ganesh Prasad Saraf |
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750 |
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Mr. Krishna Kumar Todi |
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30000 |
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Mrs. Laxmi Kant Todi |
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500 |
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Mr. Kishor Kumar Todi |
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500 |
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Mr. Kalayan Kumar Bose |
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500 |
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Mr. Krishna Kumar Todi |
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10000 |
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Total |
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94260 |
(As on 31.03.2006)
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Category |
|
Percentage |
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Bodies Corporate (not mentioned above) |
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25.45 |
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Directors or relatives of directors |
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50.95 |
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Other top fifty (50) shareholders (other than listed above) |
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23.60 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Wholesalers of Textile, Clothing and Footwear. |
GENERAL
INFORMATION
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Bankers : |
Strand Road Branch
Parik Street Branch, A G Towers, 125/1, Park Street, Kolkata – 700016,
West Bengal, India |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Sircar Gupta and Company Chartered Accountant |
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Address : |
3/1, Mangoe Lane, Kolkata – 700001, West Bengal, India |
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Associates/Subsidiaries : |
Arintex Global Limited U17111WB1996PTC077733 MMP Water Tech Private Limited U28991WB2002PTC095269 Eros Fashion Private Limited U51909WB2003PTC096277 MMP-Filteration Private Limited U29197WB2003PTC096050 Splendid Tower Private Limited U70101WB1996PTC081678 Hiramoti Tracon Private Limited U51109WB2004PTC079230 Multi Media Insurance Mediator Private Limited U67190WB2004PTC098435 Kala Niketan Properties Private Limited U70101WB1995PTC075592 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Share |
Rs.100/- each |
Rs.20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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94290 |
Equity Share |
Rs.100/- each |
Rs.9.429
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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9.429 |
9.429 |
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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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5.133 |
5.075 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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14.562 |
14.504 |
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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 |
|
0.375 |
0.000 |
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TOTAL BORROWING |
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0.375 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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14.937 |
14.504 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.270 |
0.167 |
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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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10.802 |
10.802 |
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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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0.009 |
0.020 |
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Cash & Bank Balances |
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0.319 |
0.128 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
1.584 |
3.449 |
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Total
Current Assets |
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1.912 |
3.597 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.009 |
0.032 |
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Provisions |
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0.038 |
0.030 |
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Total
Current Liabilities |
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0.047 |
0.062 |
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Net Current Assets |
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1.865 |
3.535 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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14.937 |
14.504 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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|
31.03.2007 |
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Sales Turnover |
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|
0.208 |
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Other Income |
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0.000 |
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Total Income |
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|
0.208 |
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Profit/(Loss) Before Tax |
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|
0.066 |
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Provision for Taxation |
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|
0.008 |
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Profit/(Loss) After Tax |
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0.058 |
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Total Expenditure |
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0.142 |
KEY RATIOS
|
PARTICULARS |
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|
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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27.88 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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31.73 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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4.97 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.00 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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0.03 |
0.00 |
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Current Ratio (Current Asset/Current Liability) |
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40.68 |
58.02 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
|
Corporate
identity number (CIN) Foreign company registration number |
U28991WB1983PTC095268 |
|
Name of the
Company |
MMP EXIM PRIVATE LIMITED |
|
Address |
2 C, Narayani, 2 A Sarat Bose Road, Kolkata – 700020, West Bengal,
India |
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This form is for |
Creation of
Charge |
|
Type of Charge |
Immovable
Property |
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Particulars of
the charge holder |
Vijaya Bank Park Street
Branch, A G Towers, 125/1, Park Street, Kolkata – 700016, West Bengal, India |
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Nature or
description of the instrument(s) creating or modifying the charge |
Memorandum of
Entry for deposit of title deeds. |
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Date of the
instrument creating or modifying the charge |
08.08.2007 |
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Amount secured by
the charge |
Rs.61.000
Millions |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of
Interests: The company is
providing collateral security to MMP-Filtration Private Limited, for its loan
of Rs.61.000 Millions Cash Credit and
Secured Loan: BPLR + 100% i.e. 14% p.a. (Presently) subject to change from
time to time. Letter of Credit
and Bank Guarantee: Commission as per H O Circulars. Terms of
Repayment: Secured Loan is
to be 60 equal monthly installments after an initial moratorium of 6 months. Cash Credit : On
Demand Margin: Cash Credit: 25%
on Stock and 40% on Book Debts Secured Loan: 25%
on the cost of project. Letter of
Guarantee: 25% Cash Margin Bank Guarantee:
20% Cash Margin Extent and
operation of the charge: 100% |
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Short particulars
of the property charged (including location of the property) |
Equitable
Mortgage of Flat No. 703, 7th Floor, C Wing together with one car
parking space in the building ‘Sagar Height’ admeasuring 632.5 sq. ft. of
carpet area at Andheri Kurla Road,
bearing CTS Nos 721/A, 721/B, 721/1, Survey No.14 Hissa No.1/4, S No.15,
Hissa No.1 S No 52, Hissa No.1,2/A/B, 3 and 4 (P), Vill: Mohili Andheri Kurla
Road, Greater Mumbai, District and Sub District Mumbai is Provided as a coll
Security for the advance to MMP – Filtration Private Limited. |
|
Particular of the
present modification |
NA |
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.40.45 |
|
UK Pound |
1 |
Rs.82.25 |
|
Euro |
1 |
Rs.63.20 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
33 |
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 |
|