MIRA
INFORM REPORT
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Report Date : |
08.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
ROYAL EMBROIDERY THREADS PRIVATE LIMITED |
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Registered Office : |
124, Milan Industrial Estate, Tokershi Jivraj Road, Cotton Green,
Mumbai – 400 033, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
30.11.2006 |
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Com. Reg. No.: |
165892 |
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CIN No.: [Company
Identification No.] |
U17299MH2006PTC165892 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR21178D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Embroidery Threads. |
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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Maximum Credit Limit : |
USD 500 |
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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 new company and yet to establish track. It is unknown to the consulted trade and business circles. It would be prudent to deal with the company on fully safe and secured
trade terms and conditions only. |
LOCATIONS
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Registered Office/ Factory : |
124, Milan Industrial Estate, Tokershi Jivraj Road, Cotton Green,
Mumbai – 400 033, Maharashtra, India. |
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Tel. No.: |
91-22-24713747/ 24711539/ 24712149 |
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Mobile No.: |
91-9222105414/ 9821038404 |
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Fax No.: |
91-22-24715104 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Shabbirali Mukadam |
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Designation : |
Director |
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Address : |
603, Sunflower, Manish Nagar, Four Bunglows, Andheri (West), Mumbai –
400 058, Maharashtra, India. |
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Date of Birth/Age : |
14.01.1957 |
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Partnership held in partnership firm : |
Address: 124, Milan Industrial Estate, Tokershi Jivraj Road, Cotton
Green, Mumbai – 400 033, Maharashtra, India. |
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Name : |
Mr. Sajjad Mukadam |
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Designation : |
Director |
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Address : |
704/ A, 25/ 26, Manish Nagar, Four Bunglows, Andheri (West), Mumbai –
400 058, Maharashtra, India. |
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Date of Birth/Age : |
26.01.1959 |
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Partnership held in partnership firm : |
Address: 124, Milan Industrial Estate, Tokershi Jivraj Road, Cotton
Green, Mumbai – 400 033, Maharashtra, India. |
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Pan No. : |
AAMPM4865H |
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Name : |
Mrs. Khursheed Banoo Gheewala |
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Designation : |
Director |
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Address : |
201 – C, Arshi Complex, opposite Panchwati Tower, Yari Road, Andheri
(West), Mumbai – 400 061, Maharashtra, India. |
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Date of Birth/Age : |
27.12.1947 |
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Partnership held in partnership firm : |
Address: 124, Milan Industrial Estate, Tokershi Jivraj Road, Cotton
Green, Mumbai – 400 033, Maharashtra, India. |
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Pan No. : |
AIKPG8276A |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 14.09.2006
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Names of Shareholders |
No. of Shares |
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Mr. Shabbir Mukadam |
5000 |
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Mrs. Khursheed Banoo Gheewala |
5000 |
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Total |
10000 |
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Names of Allottees |
No. of Shares |
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Mr. Shabbir Mukadam |
413100 |
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Mrs. Khursheed Banoo Gheewala |
661600 |
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Mr. Sajjad Mukadam |
466000 |
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Mr. Asardali Shabbirali Mukadam |
449284 |
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Total |
1989984 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Embroidery Threads. |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
Clare Road Branch, Yusuf Manor, Ground Floor, 32/ 36, Clare Road Byculla, Mumbai – 400 008, Maharashtra, India. |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Ali Husein Gulam Husein Lakhani Chartered Accountants |
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Address : |
204/ B, Rizvi House, Hill Road, Bandra (West), Mumbai – 400 050,
Maharashtra, India. |
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Partnership Firm : |
Address: 124, Milan Industrial Estate, Tokershi Jivraj Road, Cotton
Green, Mumbai – 400 033, Maharashtra, India. |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs.10/- Each |
Rs.20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- Each |
Rs.0.100
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
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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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(0.007) |
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NETWORTH |
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0.093 |
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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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0.430 |
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TOTAL BORROWING |
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0.430 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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0.523 |
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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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0.014 |
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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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0.014 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.001 |
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Provisions |
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0.004 |
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Total
Current Liabilities |
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0.005 |
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Net Current Assets |
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0.009 |
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MISCELLANEOUS EXPENSES |
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0.514 |
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TOTAL |
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0.523 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover |
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0.000 |
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Other Income |
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0.000 |
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Total Income |
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0.000 |
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Profit/(Loss) Before Tax |
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(0.007) |
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Provision for Taxation |
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-- |
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Profit/(Loss) After Tax |
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(0.007) |
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Total Expenditure |
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0.007 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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(50.00) |
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Return on Investment (ROI) (PBT/Networth) |
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(0.08) |
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Debt Equity Ratio (Total Liability/Networth) |
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4.68 |
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Current Ratio (Current Asset/Current Liability) |
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2.80 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U17299MH2006PTC165892 |
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Name of the
company |
ROYAL EMBROIDERY THREADS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
124, Milan Industrial Estate, Tokershi Jivraj Road, Cotton Green,
Mumbai – 400 033, Maharashtra, India. |
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Type of charge |
Movable Property |
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Particular of
charge holder |
Union Bank of India Clare Road Branch, Yusuf Manor, Ground Floor, 32/ 36, Clare Road Byculla, Mumbai – 400 008, Maharashtra, India. E-Mail: unionclare2111@gmail.com |
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Nature of
description of the instrument creating or modifying the charge |
Term Loan
Agreement (SD-19) (Hypothecation of
Movables) |
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Date of
instrument Creating the charge |
25.03.2008 |
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Amount secured by
the charge |
Rs.80.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
Interest at the rate of 13.25% p.a. with the monthly rests or at such other
rate/s as may be prescribed by the Bank from time to time. Terms of
Repayment: On demand Margin: As per
Sanction Terms Extent and
Operation of the charge: To secure the Term Loan of Rs.80.000 Millions
granted by the Bank to the company. |
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Short particulars
of the property charged |
Land, Building, Plant and Machinery at D/ 11, MIDC Kurkumbh, Pune,
District Pune, Maharashtra. All Tangible Movable Machinery and Plant of the Borrower together with
spares, Tools and Accessories and other Movables, both present and future
lying at the borrowers premises at
124, Milan Industrial Estate, Tokershi Jivraj Road, Cotton Green,
Mumbai – 400 033 or wherever else the same may be. |
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.48.01 |
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UK Pound |
1 |
Rs.84.16 |
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Euro |
1 |
Rs.65.20 |
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 |
3 |
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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 |
3 |
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--LEVERAGE |
1~10 |
3 |
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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 |
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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12 |
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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