MIRA
INFORM REPORT
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Report Date : |
17.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
PRINCE MARINE TRANSPORT SERVICES PRIVATE LIMITED |
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Registered Office : |
1st Floor, 255 Shahid Bhagat Singh Road, Near G P O, Fort,
Mumbai – 400001, Maharashtra. |
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Country : |
India |
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Date of Incorporation : |
31.08.2007 |
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Com. Reg. No.: |
11-173691 |
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CIN No.: [Company
Identification No.] |
U63030MH2007PTC173691 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP24146D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Supplier of Vessel Tugs, Barge Owners, Hirers and Lighterage
Operators, Ship Building and Dredging. |
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 : |
Successor to Old Firm |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Mr. Ratan of the company totally declined business and financials
details. As the subject is a new company, no financials are available. The company has been successful in getting loans from their bankers. No details about their trade relations and payment records are
available. Initially the company can be considered for any business dealings on
safe and secured trade terms and conditions. |
INFORMATION
DECLINED BY
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Name : |
Mr. Rohan |
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Designation : |
Accounts Executive |
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Date : |
15.11.2008 |
LOCATIONS
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Registered Office/Head Office : |
1st Floor, 255 Shahid Bhagat Singh Road, Near G P O, Fort,
Mumbai – 400001, Maharashtra, India. |
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Tel. No.: |
91-22-22632374 / 22632376 / 22632475 |
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Fax No.: |
91-22-22704239 |
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E-Mail : |
pmtsmum@mtnl.net.in |
DIRECTORS
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Name : |
Mr. Mariambai A. Razzak |
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Designation : |
Director |
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Address : |
Sagar Classic, 502, Clare Road, Bycully, Nagpada, Mumbai – 400008,
Maharashtra, India. |
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Date of Birth : |
05.11.1947 |
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Din No.: |
01317535 |
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Name : |
Mr. Abdul R. Kassam |
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Designation : |
Director |
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Address : |
5/502, Sagar Classic, Clare Road, Bycully, Nagpada, Mumbai –400008,
Maharashtra, India. |
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Date of Birth : |
04.05.1946 |
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Din No. : |
01355522 |
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Name : |
Mr. Mohamed Umer Usman Kasam |
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Designation : |
Director |
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Address : |
Gustad 118, Jail RD Chembur, Chinch Bunder P. STN Dongri, Mumbai –
400009, Maharashtra, India. |
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Date of Birth : |
19.01.1970 |
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Din No.: |
01530779 |
KEY EXECUTIVES
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Name : |
Mr. Rohan |
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Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Abdul R. Kassam |
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250000 |
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Mr. Hashim A. Razak |
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1750000 |
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Mrs. Mariambai A. Razak |
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1250000 |
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Mr. Shajid M. Namakwala |
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300000 |
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Mr. Mohamed Umer U. Kasam |
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1892000 |
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Mr. Zahid A. Razak |
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1000000 |
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Mr. Nadeem A. Razak |
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250000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Supplier of Vessel Tugs, Barge Owners, Hirers and
Lighterage Operators, Ship Building and Dredging. |
GENERAL
INFORMATION
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Bankers : |
New India Co-Operative Bank Limited Gunbow Street, Fort, Mumbai -400001, Maharashtra, India. |
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Facilities : |
Mortgage/Charge of Rs.27.600 Millions. |
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Banking
Relations : |
Unknown |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
NEW COMPANY
FINANCIAL DATA
[all figures are in Rupees Millions]
Financials: - As the subject is
a new company no financials are available.
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
(1) The parties hereto
are presently carrying on the business in partnership in the name of M/S. PRINCE MARINE TRANSPORT SERVICES with
its office at Mumbai under the Deed of Partnership dated 5th day of April, 2006 and the said
partnership has been duly registered under the provisions of Indian Partnership
Act, 1932 with the Registrar of Firms, Maharashtra vide Registration No. BA-96166 dated 19th January, 2007. The said firm is having a fixed capital of Rs. 2.000 millions held by the parties
hereto to the extent specified in subscription clause hereto and having
business of clearing services, charter hirers, hirers of all types of barges,
ships, tugs, vessels etc and to own, hire, built, construct all types of
shipping vessels and to carry on such other business as mutually agreed upon.
(2) The parties have
been carrying on business under the name and style of M/S. PRINCE MARINE
TRANSPORT SERVICES under a deed of partnership dated 1st April, 2004 and as
amended from time to time,
the last modification
being vide Deed of Reconstitution of Partnership dated 5th April, 2006.
FORM 8
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U63030MH2007PTC173691 |
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Name of the
company |
PRINCE MARINE TRANSPORT
SERVICES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
1st Floor, 255 Shahid Bhagat Singh Road, Near G P O, Fort,
Mumbai – 400001, Maharashtra, India. |
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Type of charge |
Ship |
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Particular of
charge holder |
New India Co-Operative Bank Limited Gunbow Street, Fort, Mumbai -400001, Maharashtra, India. Email :- m.g.kalelkar.associates@gmail.com |
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Nature of description
of the instrument creating or modifying the charge |
Deed Of Covenant
To Accompany Statutory Mortgage Of Ship |
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Date of
instrument Creating the charge |
09.01.2008 |
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Amount secured by
the charge |
Rs.27.600
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of Interest
: 12% per annum Terms of Repayment Repayment by way
of monthly/quarterly instalments of Rs. 0.614 Millions each commencing from
09.02.2008 and ending on or before 09.01.2013. Margin As may be
decided, by the Bank. Extent and operation of the charge To secure the due
repayment of credit facilities of Rs. 27.600 Millions granted by the Bank to
the company. |
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Short particulars
of the property charged |
Name of Ship :
KOBE Official No.:
3285 Registered on
24.01.2007 at Vishakhapatnam belonging to the company. |
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] 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.49.46 |
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UK Pound |
1 |
Rs.73.17 |
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Euro |
1 |
Rs.62.96 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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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 |
5 |
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--LEVERAGE |
1~10 |
5 |
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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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23 |
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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