MIRA INFORM REPORT

 

 

 

Report Date :

12.11.2008

 

IDENTIFICATION DETAILS

 

Name :

RYAN SEALS PRIVATE LIMITED

 

 

Registered Office :

239, Guru Gobind Singh, Industrial Estate Western Express Highway, Goregaon (East), Mumbai – 400 063, India

 

 

Country :

India

 

 

Date of Incorporation :

17.06.2005

 

 

Com. Reg. No.:

154043

 

 

CIN No.:

[Company Identification No.]

U29195MH2005PTC154043

 

 

IEC No.:

0391159569

 

 

TIN No.:

27170060916

 

 

PAN No.:

[Permanent Account No.]

AACPM0609D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of all type of Aluminium Pilfer-Proof Caps.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Although, subject is an old established, the company has not prepared or filed financials with registry. It can be regarded as defunct company in the eyes of company law Board.

 

Management claims that Ryan Seals Private Limited and Ryan Seals can be regarded as one company which is not so.

 

It would be prudent to deal with Ryan Seals than Ryan Seals Private Limited for normal business dealings at usual trade terms and conditions.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Faustine Mendonca

Designation :

Director

Contact No.:

91-9820110317

Date :

07.11.2008

 

 

LOCATIONS

 

Registered Office/ Factory :

239, Guru Gobind Singh, Industrial Estate Western Express Highway, Goregaon (East), Mumbai – 400 063, India

Tel. No.:

91-22-55702093

Mobile No.:

91-9820110317

Fax No.:

91-22-26854259

E-Mail :

ryanm@bom3.vsnl.net.in

Website :

www.indiamart.com/ryanseals/

Area :

1200 sq ft

Location :

Owned

 

 

DIRECTORS

 

Name :

Mr. Faustine Mendonca

Designation :

Director

Address :

401, Leurdos Tower, Gautam Budh Lane, Orlem, Malad (West), Mumbai – 400 064, Maharashtra, India

Date of Birth/Age :

57 Year

Qualification :

BSC

 

 

Name :

Mrs. Lilly Mary Mendonca

Designation :

Director

Address :

401, Leurdos Tower, Gautam Budh Lane, Orlem, Malad (West), Mumbai – 400 064, Maharashtra, India

Date of Birth/Age :

54 Years

Qualification :

BA Honurs

 

 

Name :

Mr. Ryan Clinton Mendonca

Designation :

Director

Address :

401, Leurdos Tower, Gautam Budh Lane, Orlem, Malad (West), Mumbai – 400 064, Maharashtra, India

Date of Birth/Age :

27 Years

Qualification :

BMM

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

(As On 05.06.2005)

 

Names of Shareholders

 

No. of Shares

Mr. Faustine Mendonca

 

5000

Mrs. Lilly Mary Mendonca

 

2000

Mr. Ryan Clinton Mendonca

 

3000

Total

 

10000

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of all type of Aluminium Pilfer-Proof Caps.

 

 

Products :
  • Aluminium Pilfer Caps
  • Aluminium Plain Coated
  • Pilfer Proof Caps
  • Glass Bottle Caps
  • Medicine Bottle
  • Beverage Bottle
  • Leak Proof Caps
  • Pet Bottle Caps
  • Aluminium Closures
  • Bottle Closure
  • Aluminium Seals
  • Coconut Milk Powder

Exports :

 

Products :

Aluminium Pilfer-Proof Caps

Countries :
  • Nigeria
  • Mauretius
  • USA
  • Shrilanka
  • Kenya

 

 

Terms :

 

Selling :

L/C, Advance

 

 

Purchasing :

Advance

 

 

GENERAL INFORMATION

 

Customers :
  • Pharmaceutical
  • Distributors

 

 

No. of Employees :

21

 

 

Bankers :
  • Corporation Bank, Andheri
  • Bharat Co-operative Bank (Mumbai) Limited, Goregaon

 

 

Facilities :

Cash and Credit (Rs.1.500 Millions), OD (Rs.3.500 Millions)

 

Banking Relations :

Unknown

 

 

Auditors :

 

Name :

R.K Kotian and Company

Chartered Accountants

Address :

Bombay

 

 

Associates/Subsidiaries :
  • Cobana Foods Private Limited

      Address: Plot No.613, Additional MIDC, Sindhudurga

      Activity: Manufacturer of Coco Nut Milk Powder

  • Ryan Seals

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

10000

Equity Shares

Rs.10/- each

Rs.0.100 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

10000

Equity Shares

Rs.10/- each

Rs.0.100 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

No financials are available since it’s incorporation.

 

Management remained non-cooperative dealings current investigation.

 

Particulars

 

 

 

31.03.2008

Sales Turnover

 

 

43.700 Millions

 

Expected Sales (2008-09) : Rs.55.000 Millions

 

 

LOCAL AGENCY FURTHER INFORMATION

 

                                            Additional Requirement of Indiamart for Trust-Seal

 

 

Excise Registration No.: AACPM0609DXM001

 

VAT / TIN : 27170060916

 

IEC Code : 0391159569

 

 

 

PAN / TAN : AACPM0609D

 

 

 

Bank Name : Bharat Co-operative Bank (Mumbai) Limited

 

Bank Address : Goregaon

 

Bank A/c. No.:250156

 

 

 

In case of any affiliations / memberships / certifications :

Type : Applied for this

 

 

Trade Reference

 

RYAN SEALS

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

 

31.03.2008

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

 

1.238

2] Share Application Money

 

 

0.000

3] Reserves & Surplus

 

 

0.000

4] (Accumulated Losses)

 

 

0.000

NETWORTH

 

 

1.238

LOAN FUNDS

 

 

 

1] Secured Loans

 

 

6.776

2] Unsecured Loans

 

 

0.843

TOTAL BORROWING

 

 

7.619

DEFERRED TAX LIABILITIES

 

 

0.000

 

 

 

 

TOTAL

 

 

8.857

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

 

0.325

Capital work-in-progress

 

 

0.000

 

 

 

 

INVESTMENT

 

 

0.398

DEFERREX TAX ASSETS

 

 

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

 

0.884

 

Sundry Debtors
 

 

5.674

 

Cash & Bank Balances
 

 

0.132

 

Other Current Assets
 

 

1.484

 

Loans & Advances
 

 

4.148

Total Current Assets
 

 

12.322

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Current Liabilities
 

 

4.007

 

Provisions
 

 

0.181

Total Current Liabilities
 

 

4.188

Net Current Assets
 

 

8.134

 

 

 

 

MISCELLANEOUS EXPENSES

 

 

0.000

 

 

 

 

TOTAL

 

 

8.857

 

PROFIT & LOSS ACCOUNT

 

PARTICULARS

 

 

 

31.03.2008

Sales Turnover

 

 

27.215

Other Income

 

 

0.000

Total Income

 

 

27.215

 

 

 

 

Expenditures :

 

 

 

 

Cost of Goods Sold

 

 

22.807

 

Manufacturing Expenses

 

 

18.352

 

Payment to Workers

 

 

0.453

 

KEY RATIOS

 

PARTICULARS

 

 

 

 

31.03.2008

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
 

 

9.53

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

 

2.94

 

 

As Per Websites

 

Incorporated in the year 1985, they have secured the status of being an eminent manufacturer and exporter of glass bottle seals, aluminium caps, bottle seals, vial seals and pilfer-proof aluminum caps. Leveraging on their experience of more than two decades in the industry, their company has diversified business interests in the national and international market. Under the able guidance of their mentor Mr. Faustin Mendonca, they have won an enviable position for theirselves in the global market. Being a vertically integrated organization, they work with the aim of maximum customer satisfaction and design and develop aluminum caps that best suit their client’s requirements. Manufactured using latest technology and state-of-the-art machines, all the caps and seals are duly tested on various quality parameters to ensure the delivery of only defect free products. Their well equipped infrastructure is supported by their team of experienced professionals, who diligently innovate new designs of caps.

 

 

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.47.59

UK Pound

1

Rs.74.55

Euro

1

Rs.60.57

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

2

--PROFITABILIRY

1~10

2

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

2

--CREDIT LINES

1~10

2

--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

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

21

 

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