MIRA
INFORM REPORT
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Report Date : |
10.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
AMI RIDDHI CHEM PRIVATE LIMITED |
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Registered Office : |
Office No.3, Gokul Apartment, Haridas Nagar, Shimpoli Road, Borivali
(West), Mumbai – 400 092, Maharashtra |
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Country : |
India |
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Date of Incorporation : |
19.12.2007 |
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Com. Reg. No.: |
176931 |
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CIN No.: [Company
Identification No.] |
U24100MH2007PTC176931 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA32225E |
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PAN No.: [Permanent
Account No.] |
AAGCA7111H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Dealer of Pharmaceutical Chemical. |
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 : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Ms. Jyoti (Accounts Executive) Ms. Vandana (Chief Accountant) denied
business details. The company is new however successful in obtaining loans of Rs.24.000
Millions from it’s banker. In absence of financials, It would be difficult to assess company’s performance
and financial status. No payment are available. The company can be considered
for small to mediocre business dealings on safe and secured trade terms and
conditions. Credit of important sum can be granted, on banker’s guarantees. |
INFORMATION
DECLINED BY
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Name : |
Ms. Jyoti/ Ms. Vandana |
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Designation : |
Accounts Executive/ Chief Accountant |
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Date : |
07.11.2008 |
LOCATIONS
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Registered Office : |
Office No.3, Gokul Apartment, Haridas Nagar, Shimpoli Road, Borivali (West),
Mumbai – 400 092, Maharashtra, India |
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Tel. No.: |
91-22-28992241 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Vijay Chunilal Sheth |
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Designation : |
Director |
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Address : |
203, Setu Apartment, Sagar Complex, Sai Baba Nagar, Borivali (West),
Mumbai – 400 092, Maharashtra, India. |
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Date of Birth/Age : |
05.08.1961 |
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Name : |
Mrs. Bhavna V. Sheth |
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Designation : |
Director |
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Address : |
203, Setu Apartment, Sagar Complex, Sai Baba Nagar, Borivali (West),
Mumbai – 400 092, Maharashtra, India. |
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Date of Birth/Age : |
08.06.1963 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 08.12.2007
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Names of Shareholders |
No. of Shares |
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Vijay Chunilal Sheth |
5000 |
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Bhavna V. Sheth |
5000 |
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Total |
10000 |
BUSINESS DETAILS
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Line of Business : |
Dealer of Pharmaceutical Chemical. |
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GENERAL
INFORMATION
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Bankers : |
Bank of Baroda, BFS Branch, Mathru Ashish Building, S.V. Road,
Kandivali (West), Mumbai – 400 067, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- Each |
Rs.2.500 millions |
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Issued, Subscribed & Paid-up 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 |
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FINANCIAL DATA
[all figures are in Rupees Millions]
No financials are available as the subject is
a new company.
Management remained non-cooperative during
current investigation.
LOCAL AGENCY
FURTHER INFORMATION
Other Information:
Business:
To establish, maintain and conduct the business of manufacturing,
trading, exporting, importing, buying and selling of fine, heavy industrial
pharmaceuticals, agro and laboratory chemical products, dyes, dyestuff, drugs,
sizing, bleaching and allied chemical products, caustic soda, ash and its
products, materials, tannin and tannin extracts, essences, wax photographic
materials, PVC and its materials, plastic, resins, acids and alkalics, solvents,
including chlorine and chlorinated products, its compound and mixture.
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U24100MH2007PTC176931 |
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Name of the
company |
AMI RIDDHI CHEM PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Office No.3, Gokul Apartment, Haridas Nagar, Shimpoli Road, Borivali
(West), Mumbai – 400 092, Maharashtra, India |
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Type of charge |
Book Debts Movable Property Floating Charge |
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Particular of
charge holder |
Bank of Baroda, BFS Branch, Mathru Ashish Building, S.V. Road,
Kandivali (West), Mumbai – 400 067, Maharashtra, India E-Mail: intmum@bankofbaroda.com |
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Nature of
description of the instrument creating or modifying the charge |
Composite
Hypothecation Agreement dated 12.05.2008 |
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Date of
instrument Creating the charge |
12.05.2008 |
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Amount secured by
the charge |
Rs.24.000
millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
1.5% Over Bench Mark PLR Terms of
Repayment: On Demand Margin: 25% On
stock and book debts Extent and
Operation of the charge: As per the Agreement |
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Short particulars
of the property charged |
Hypothecation of
the stock, both present and future all stock of raw materials, work in
process, semi finished goods and finished goods such as chemicals and all the
book debts of the company both present and future. All the tangible
movable machinery and plant and cranes, boats and crafts and the vehicles of
the borrower together with spares, tools and accessories and other movables,
both present and future and the furniture and fitting and office equipments
whether installed or not. |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.76 |
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UK Pound |
1 |
Rs.74.87 |
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Euro |
1 |
Rs.60.81 |
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 |
3 |
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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 |
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 |
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 |
YES |
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TOTAL |
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15 |
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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