MIRA
INFORM REPORT
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Report Date : |
19.11.2008 |
IDENTIFICATION DETAILS
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Name : |
LAKHANI AUTO COMPONENTS PRIVATE LIMITED |
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Registered Office : |
W – 9, Greater Kailash, Part – II, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
20.12.2005 |
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Com. Reg. No.: |
55-143852 |
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CIN No.: [Company
Identification No.] |
U34300DL2005PTC143852 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKL01116D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Auto Components Business |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
New Project |
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Payment Behaviour : |
Unknown |
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Comments : |
Ms. Vandana, Director of the company denied business and financial
details. Subject is in informing stage and has yet to establish its track. No payment records are available. Banking relations are unknown. 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 : |
Ms. Vandana |
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Designation : |
Director |
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Date : |
11.11.2008 |
LOCATIONS
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Registered Office : |
W – 9, Greater Kailash, Part – II, |
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E-Mail : |
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Website : |
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Factory : |
160, Sector 24, |
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Tel. No.: |
91-129-2232793-5/ 4151863 |
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Fax No.: |
91-129-2440589 |
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E-Mail : |
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Website : |
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Sales Office : |
Plot No. 131, Sector 24, |
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Tel. No.: |
91-129-2232193, 2232793,94,95 |
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Mobile No.: |
91-9818170079 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Parmeshwar Dayal Lakhani |
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Designation : |
Director |
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Address : |
Vardaan – 1340, Sector – 14, |
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Date of Birth/Age : |
24.01.1954 |
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Date of Appointment : |
20.12.2005 |
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Email : |
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Name : |
Mrs. Suman Lakhani |
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Designation : |
Director |
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Address : |
Vardaan – 1340, Sector – 14, |
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Date of Birth/Age : |
21.06.1956 |
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Date of Appointment : |
20.12.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 30.12.2006)
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Names of Shareholders |
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No. of Shares |
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Parmeshwar Dayal Lakhani |
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5000 |
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Suman Lakhani |
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5000 |
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Total |
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10000 |
(As on 31.12.2006)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Auto Components Business |
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Products : |
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GENERAL INFORMATION
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Bankers : |
1-C/47-48, NIT, |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Sahai Garg and Associates Chartered Accountant |
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Address : |
19-A, 2nd Floor, |
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Group Company: |
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CAPITAL STRUCTURE
Authorised 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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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 subsequent financial could be available.
Management remained non – cooperative during current investigation
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.100 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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0.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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0.087 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.000 |
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Total
Current Assets |
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0.087 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.006 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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0.006 |
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Net Current Assets |
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0.081 |
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MISCELLANEOUS EXPENSES |
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0.010 |
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Development Account |
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0.009 |
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TOTAL |
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0.100 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.06 |
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Current Ratio (Current Asset/Current Liability) |
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14.50 |
LOCAL AGENCY FURTHER INFORMATION
Financial Results:
The company was incorporate on 20.12.2005. The company has not commenced
any commercial activity during the period ended on 31.12.2006 and therefore a
Development Account has been prepared instead of profit and loss Account. The
company has incurred only pre-operative expenditure during the period on
31.03.2006 the details of which are hereunder:-
Particulars
Period Ended 31.03.2006
Pre- operative Expenses Rs.0.009
Million
Fixed Assets:
- Office
Equipment
- Furniture and
Fixture
- Motor Car
- L G Refrigerator
- Computers
Website Details:
History:
1966
upto 2005
Joint Family Business in Auto Components Expanded in
Footware and Detergents.
2005
Family Business Restructured, Formed new group under
leadership of Mr. P.D. Lakhani namely “LAKHANI VARDAAN GROUP”
2006
Diversified in 100% EOU Apparels Business
Diversified in 100% EOU Medical Devices Business
Higher Focus on the Auto Components
2007
Started New Plant in auto Components in Faridabad
& Haridwar.
Profile:
Original
background to create auto component business is in line with
Infrastructure:
The "Lakhani auto Components” team has over three
decades of combined experience in the manufacturing, distribution and marketing
of high end single use of auto components. Combined with the backing of a
strong group like Lakhani Vardaan and sophisticated manufacturing facilities,
they are equipped to cater to the most demanding clients adhering to stringent
deadlines.
Spread over a sprawling 75,000 sq ft with the scope further expansion, the flagship
unit is equipped to deliver close to 50 million finished components annually.
The manufacturing processes are optimised to achieve the best possible balance
between capital intensive technology and the human production element by
utilizing the differential labour costs advantage of
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.49.68 |
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1 |
Rs.74.64 |
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Euro |
1 |
Rs.62.58 |
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 |
1 |
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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 |
- |
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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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4 |
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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