MIRA
INFORM REPORT
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Report Date : |
03.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
MAXTECH SINTERED PRODUCTS PRIVATE LIMITED |
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Registered Office : |
Gat No. 127, Post Mangrul, Taluka Maval [Talegaon Dabhade] Pune
410507, Maharashtra |
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Country : |
India |
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Date of Incorporation : |
22.02.2007 |
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Com. Reg. No.: |
129627 |
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CIN No.: [Company
Identification No.] |
U29299PN2007PTC129627 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEM12178F |
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PAN No.: [Permanent
Account No.] |
AAFCM0090E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Sintered Metal Products and Auto
Components |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Mr. Nikhil Chavan contacted 5 times to update the information. He promised everytime but never fulfilled
the same. The company is a part of Maxtech, Canada and new to India. The Company is in infancy stage. It has obtained sizeable loans from
bank. However no payment are
available. Initially, the company can be considered for any business dealings at
usual trade terms and conditions with slight caution. |
LOCATIONS
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Registered Office/Factory : |
Gat No. 127, Post Mangrul, Taluka Maval [Talegaon Dabhade] Pune
410507, Maharashtra, India |
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Tel. No.: |
91-211-4661200 / 4661210 / 30225141 |
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Mobile No.: |
91-9766334498 [Mr. Pankaj Maholkar] |
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Fax No.: |
91-211-4661202 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Nital Raval |
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Designation : |
Director |
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Address : |
A 802, Mantri Lawns, 4, Anand Park, Aundh, Pune 411007, Maharashtra,
India |
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Date of Birth/Age : |
05.12.1972 |
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Date of Appointment : |
22.02.2007 |
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Name : |
Mr. Narasimhan Venkat Gopal |
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Designation : |
Director |
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Address : |
403, Olive Court, Parmar Park, Wanwadi, Pune 411040, Maharashtra,
India |
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Date of Birth/Age : |
10.04.1954 |
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Date of Appointment : |
22.02.2007 |
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Name : |
Mr. Jignesh V. Raval |
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Designation : |
Director |
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Address : |
Flat No. D – 106, 1st Floor, Mantri Lawns, Anand Park,
Street No. 4, Aundh, Pune 411007, Maharashtra, India |
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Date of Birth/Age : |
06.02.1970 |
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Date of Appointment : |
23.06.2007 |
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Name : |
Mr. Gopal Venkata Narasimhan |
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Designation : |
Director |
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Address : |
403, Olive Court, Parmar Park, Wanwadi, Pune 411040, Maharashtra,
India |
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Date of Birth/Age : |
10.04.1954 |
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Date of Appointment : |
22.02.2007 |
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Directorship in other Companies : |
Klaus Union Engineering Private Limited CIN No.: U13682PN1999PTC013682 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Name of Allottees |
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No. of Shares |
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Maxtech Manufacturing Inc. |
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2560378 |
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BRN Industries Limited |
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2473813 |
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Total |
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5034191 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Sintered Metal Products and Auto
Components |
GENERAL
INFORMATION
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Bankers : |
·
Oriental
Bank of Commerce 917-20/20A, OBC
Tower, F. C. Road, Pune 411004, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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5034191 |
Equity Shares |
Rs. 10/-
each |
Rs. 50.341
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
As the subject is a new company, no financials
are available.
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
It is herby certify that Maxtech Victora India Private Limited which was
originally incorporated on Twenty Second day of February Two Thousand Seven
under the Companies Act, 1956 as Maxtech Victora India Private Limited having
duly passed the necessary resolution in terms of section 21 of the companies
act, 1956 and the approval of the Central Government signified in writing
having been accorded thereto under section 21 of the Companies Act, 1956, read
with Government of India, Department of
Company Affairs, New Delhi, Notification No. G. S. R. 507 [E] dated 24.06.1985
vide SRN A15766686 dated 15.06.2007 the name of the said company is this day
changed to Maxtech Sintered Product Private Limited and this Certificate is
issued pursuant to section 23 [1] of the said Act.
Form 8
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U29299PN2007PTC129627 |
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Name of the
company |
MAXTECH SINTERED
PRODUCTS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Gat No. 127, Post Mangrul, Taluka Maval [Talegaon Dabhade] Pune
410507, Maharashtra, India |
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Type of charge |
·
Book Debts ·
Immovable Property ·
Movable
Property ·
Floating
Charge |
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Particular of
charge holder |
Oriental Bank of
Commerce 917-20/20A, OBC
Tower, F. C. Road, Pune 411004, Maharashtra, India |
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Nature of
description of the instrument creating or modifying the charge |
All the above
agreements constitutes single charge |
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Date of
instrument Creating the charge |
07.02.2008 |
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Amount secured by
the charge |
Rs. 230.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest PLR 1% per annum
i.e. 12.25 per annum at present Terms of
Repayment Cash credit
repayable on demand Term loan
repayable in 72 monthly installments
of Rs. 2.638 Millions each + interest. First installment to commence from 9 months from 1st
disbursement or 6 months from date of
COD whichever is earlier. Margin Margin 25% Extent and
Operation of the charge First charge on
land and building at Gat No. 127, Mangul, Vadgaon, Maval, Pune 410507 and
other fixed assets both present and future.
All movable properties including vehicle, machinery, consumer
durables, book debts, stocks of raw material, WIP finished goods. Others Cash Credit Rs.
40.000 Millions and Term Loan Rs. 190.000 Millions. |
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Short particulars
of the property charged |
Land and building
at Gat No. 127, Mangul, Vadgaon, Maval, Pune 410507 and other fixed assets
both present and future. All movable
properties including vehicle, machinery, consumer durables, book debts,
stocks of raw material, WIP finished goods. |
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. 46.88 |
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UK Pound |
1 |
Rs. 82.97 |
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Euro |
1 |
Rs. 64.99 |
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 |
5 |
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OPERATING SCALE |
1~10 |
1 |
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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 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
-- |
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--CREDIT LINES |
1~10 |
5 |
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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 |
YES |
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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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26 |
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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