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MIRA
INFORM REPORT
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EReport Date : |
24.11.2008 |
IDENTIFICATION DETAILS
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Name : |
JINDAL RETAIL ( |
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Formerly Known As : |
JINDAL TRADEX PRIVATE LIMITED |
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Registered Office : |
49A/41, Punjabi Bagh, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
05.12.2007 |
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Com. Reg. No.: |
171081 |
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CIN No.: [Company
Identification No.] |
U51109DL2007PTC171081 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELJ07153G |
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PAN No.: [Permanent
Account No.] |
AABCJ9170C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading Activities |
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 Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company in its field. The company has
incurred some losses as per its first financials. No further details could be made available. The company can be considered for any business dealings on safe and
secured terms, initially. |
LOCATIONS
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Registered Office : |
49A/41, Punjabi Bagh, |
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Tel. No.: |
91-11-25224479/ 45594400 |
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Mobile No.: |
91-9899630623/ 9818749474 |
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E-Mail : |
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Website : |
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Corporate Office : |
601, V3S, North Delhi Mall, Plot No. 123, |
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Tel. No.: |
91-11-65472820 |
DIRECTORS
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Name : |
Mr. Abhishek Jindal |
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Designation : |
Director |
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Address : |
49A/41, Punjabi Bagh, |
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Date of Birth/Age : |
20.11.1985 |
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DIN or Income-tax PAN : |
01887639 |
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Name : |
Mr. Janak Raj Jindal |
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Designation : |
Director |
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Address : |
49A/41, Punjabi Bagh, |
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Date of Birth/Age : |
23.03.1959 |
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DIN or Income-tax PAN : |
00812077 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2008
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Names of Allottees |
No. of Shares |
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Janak Raj Jindal |
100000 |
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Abishek Jindal |
65000 |
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Jayashree Jindal |
60000 |
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Janak Raj Jindal HUF |
30000 |
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Pawan Kumar Gupta |
30000 |
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Total |
285000 |
BUSINESS DETAILS
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Line of Business : |
Trading Activities |
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Brand Names : |
FARRELL |
GENERAL INFORMATION
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Bankers : |
Punjab National Bank, Main Branch, |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S.C. Thakral and Company Chartered Accountants |
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Address : |
6, Red Cross Complex, |
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Tel. No.: |
91- 1662 -236497 |
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Mobile No.: |
91-9416476269 |
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Residential
Address : |
1443, U.E. – II, Hisar. |
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Tel. No. : |
91-
1662-247934 |
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E-Mail : |
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Group Companies : |
Janak Steel Tubes Limited (JSTL) —
Manufacturing Line For Erw Pipes JJ Jindal Infin Private
Limited (JJJIL) — Finance Company |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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295000 |
Equity Shares |
Rs.10/- each |
Rs.2.950
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.950 |
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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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(0.123) |
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NETWORTH |
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2.827 |
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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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2.827 |
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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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1.621 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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1.314 |
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Total
Current Assets |
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2.935 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.108 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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0.108 |
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Net Current Assets |
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2.827 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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2.827 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
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Profit/(Loss) Before Tax |
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(0.179) |
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Provision for Taxation |
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-- |
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Profit/(Loss) After Tax |
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(0.179) |
KEY RATIOS
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PARTICULARS |
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31.03.2008 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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(6.10) |
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Return on Investment (ROI) (PBT/Networth) |
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(0.06) |
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Debt Equity Ratio (Total Liability/Networth) |
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0.04 |
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Current Ratio (Current Asset/Current Liability) |
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27.18 |
LOCAL AGENCY FURTHER INFORMATION
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U51109DL2007PTC171081 |
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Name of the
company |
JINDAL TRADEX PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
49A/41, Punjabi Bagh, |
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Type of charge |
Immovable
Property Book Debts Movable Property Others
(Collateral Security of Janak Steel Tubes Limited) |
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Particular of
charge holder |
Punjab National Bank, Main Branch, E-Mail: bo0203@pnb.co.in |
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Nature of
description of the instrument creating or modifying the charge |
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Date of
instrument Creating the charge |
31.03.2008 |
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Amount secured by
the charge |
Rs.9.500 millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
The borrower shall pay interest at the rate % over /below prevailing BPLR –
0.50% i.e. 12.00% at present p.a. with monthly rests. Terms of
Repayment: As per Agreement. (working Capital limit) Margin; 25% on
stocks 25% on book debts
Extent and
Operation of the charge: Fund based working capital limit (Super
Trade)=Rs.5.000 millions Non Fund based
(ILC/ FLC (DA) =Rs.4.500 millions. |
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Short particulars
of the property charged |
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OPERATIONS:
During the period the company has gross receipts of Rs.0.012 million and
suffered loss of Rs.0.191 million.
During the period, the company has started business operation of
imported goods from out of
WEBSITE DETAILS;
Jindal Group was established in 1952 under the erstwhile
leadership of Late Shri Netram Jindal. When the country was facing a host of
political turbulence the group focused and flourished to emerge as an economic
pioneer of
With a commendable record of running a successful conglomerate and carrying forward its lineage, the Jindal group is a foraying into the food Industry with Subject, headed by Abhishek Jindal, the first among a new generation of scion hailing from the Jindal family.
Jindal Retail is assembling a portfolio of top-line
international FMCG brands/products to cater to the Indian taste buds with
international flavour backed by pan
With increasing consumer awareness, economic and social
advances along with international exposure, Indian consumers have arrived and
getting more and more responsive to better quality of life. Jindal's raison de
atre will be to deliver optimal satisfaction to the Indian consumer through
quality products and services. The company also has ambitious plans to start
manufacturing food products in
The strategy of the Jindal Retail would be to promote and market reputed brands from the international market exclusively for the Indian Consumer. The marketing would focus on making the products readily available across the Indian continent. The first stage would include Olive Oil, Table Olives, Energy drinks, Natural Juices, Chocolates.
Further, once the market is sensitized and the products are gaining
acceptance, more products including baby diapers, cosmetics, pasta, washing
liquid, cheese, sugar free tablets among others will also be launched.
FARRELL
Presenting the oil of oils FARRELL from the house of JINDAL, in
three of it's most finest and popular variants:
- Extra
Virgin Olive Oil
- Pure
Olive Oil
- Olive
Pomace Oil
FARRELL the fruit oil with optimal health benefits is produced with the world class Spanish technology to retain the quality and properties of olive in all variants, keeping in view the Indian consumers.
Health Benefits
- Highest
content of monounsaturated fatty acids(MUFA) which reduce bad cholesterol
(LDL) and triglycerides.
- High
MUFA helps to prevent heart disease, high blood pressure and brain
hemorrhage.
- Olive
Oil is rich in oleic acid, which reduces the risk of breast cancer.
- Rich
source of vitamins A,D,E,K and Beta carotene and other antioxidants fight
cancer.
- Antioxidants
also prevent aging, increase life expectancy and work wonders for the skin
and hair.
- Improves
metabolic functions, prevents and controls diabetes, formation of
gallstones, stimulate bone growth and prevent osteoporosis.
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] 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.50.03 |
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1 |
Rs.74.42 |
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Euro |
1 |
Rs.62.71 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
-- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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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 |
YES |
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TOTAL |
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10 |
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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