MIRA
INFORM REPORT
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Report Date : |
15.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
INTECH SAFETY PRIVATE LIMITED |
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Registered Office : |
83 and 84, Chanditala Main Road, Kolkata – 700 053, West Bengal |
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Country : |
India |
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Date of Incorporation : |
25.06.2003 |
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Com. Reg. No.: |
096474 |
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CIN No.: [Company
Identification No.] |
U74140WB2003PTC096474S |
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IEC No.: |
0203017978 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALI02240A |
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PAN No.: [Permanent
Account No.] |
AABCI1457M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Personal protection equipments like Head protection,
Fall protection, Eye and Ear Appeal and Foot protection Equipment. |
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 : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Unknown |
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Comments : |
Subject appears to be an a established company which is not filling
financial with Registry. Thus company is poor in corporate governance. It’s trade relations are fair. No payments or bankers relations are
known. The company can be considered for normal business dealings at usual
trade terms and conditions with same country. |
INFORMATION PARTED
BY
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Name : |
Mr. Amit Mukharjee |
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Designation : |
Export Manager |
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Contact No.: |
91-9836746030 |
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Date : |
13.10.2008 |
LOCATIONS
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Registered Office/ Factory 1 : |
83 and 84, Chanditala Main Road, Kolkata – 700 053, West Bengal, India |
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Tel. No.: |
91-33-24032001 |
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Mobile No.: |
91-9836746030 |
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Fax No.: |
91-33-24031766 |
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E-Mail : |
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Website : |
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Area : |
12000 sq ft |
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Location : |
Owned |
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Factory 2 : |
Singur, Near Tata Motars |
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Area : |
1 Acre |
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Location : |
Owned |
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Branches : |
83 and 84, Chanditala Main Road, Kolkata – 700 053, West Bengal, India |
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Area : |
1000 sq ft |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Gautam Gupta |
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Designation : |
Director |
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Address : |
357/71A, Prince Anwar Shah Road, Kolkata – 700 068, West Bengal, India |
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Date of Birth/Age : |
51 Years |
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Qualification : |
Post Graduate |
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Name : |
Mrs. Mala Gupta |
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Designation : |
Director |
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Address : |
357/71A, Prince Anwar Shah Road, Kolkata – 700 068, West Bengal, India |
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Date of Birth/Age : |
43 Years |
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Qualification : |
Post Graduate |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As On 17.06.2003)
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Names of Shareholders |
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No. of Shares |
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Mr. Gautam Gupta |
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7500 |
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Mrs. Mala Gupta |
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2500 |
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Total |
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10000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Personal protection equipments like Head
protection, Fall protection, Eye and Ear Apparel and Foot protection
Equipment. |
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Products : |
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Exports : |
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Products : |
Personal protection Equipments like Head, Fall, Foot protection, etc. |
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Countries : |
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Imports : |
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Products : |
Breathing Appartal (Related Mines) |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash |
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Purchasing : |
L/C |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
160 |
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Bankers : |
State Bank of India, Chowringhee Branch, 38B, Chowringhee Road,
Kolkata – 700 071, West Bengal, India |
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Facilities : |
Export Credit |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Mr. Swapan Karamkar Chartered Accountant |
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Address : |
Kolkata |
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Associates/Subsidiaries : |
Industrial Appliances and Technologist |
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Address : |
83 and 84, Chanditala Main Road, Kolkata – 700 053, West Bengal, India |
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Line of Business : |
Domestic, Supplier and Trader |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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240000 |
Equity Shares |
Rs.10/- each |
Rs.2.400 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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140000 |
Equity Shares |
Rs.10/- each |
Rs.1.400 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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17.500 |
Expected Sales (2008-09) : Rs.30.000 Millions
Note:
Since incorporation of the company, no
financial are available.
Management denied financial details
LOCAL AGENCY
FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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VAT / TIN : 19441971028 |
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IEC Code : 0203017978 |
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PAN / TAN : AABCI1457M |
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Bank Name : State Bank of India |
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Bank Address : Chowringhee Branch, 38B, Chowringhee Road,
Kolkata – 700 071, West Bengal, India |
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Bank A/c. No.: 10826742757 |
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Account Since : 5 Years |
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In case of any affiliations / memberships / certifications : |
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Name : Approval D G Ms. |
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Expiry Date : 15.10.2008 |
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Form 8
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This form is for |
Modification of
charge |
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Charge
identification number of the modified
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10037769 |
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Corporate
identity number of the company |
U74140WB2003PTC096474 |
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Name of the
company |
Intech Safety
Private Limited |
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Address of the
registered office or of the principal place of business in India of the company |
15, A K Mohammed
Siddque Lane, Kolkata – 700 016, West Bengal, India |
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Type of charge |
Book Debts Movable Property Floating Charge |
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Particular of
charge holder |
State Bank of India Chowringhee Branch, 38B, Chowringhee Road, Kolkata – 700 071, West
Bengal, India |
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Nature of description
of the instrument creating or modifying the charge |
Supplemental
Agreement of Loan-cum-Hypothecation. |
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Date of
instrument Creating the charge |
19.08.2008 |
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Amount secured by
the charge |
Rs.16.307
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest For Cash Credit @
1% above SBAR with monthly rests. For term Loan @
1.5% above SBAR with monthly rests. Terms of
Repayment For Cash Credit –
Repayment on demand as per Banking norms. Existing Term
Loan as per original repayment Schedule The Term Loan
(New) of Rs.5.000 Millions is repayable in 60 monthly installments of
Rs.0.083 Million Margin 25% of Raw
Materials (Indigenous), 25% of Semi-
Finished Goods, 25% of Finished
Goods, 30% of Domestic
Receivables (Cover 90 days), and 25% of Bank
Guarantees. Extent and
Operation of the charge First Charge on
the whole of the hypothecated assets. Others |
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Short particulars
of the property charged |
All present and future
stocks, raw materials, goods, book debts, and vehicles and all other movable
assets of the Borrower(s) including receivables, documents of title to goods,
outstanding monies, bills, invoice documents, contacts, insurance policies,
guarantees, engagements, securities, investments and rights and the present
machinery and all the future machinery by way of first change. |
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Date of latest
modification prior to the present modification |
31.01.2007 |
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Particulars of
the present modification |
By this modification,
the Overall Limit is enhanced from Rs.7.359 Millions to Rs.16.307 Millions.
All other terms and conditions continue to remain as before in full force and
effect. |
About Us
Incepted in the year 1999, they are one amongst the foremost
manufacturers, suppliers and exporters of superior quality personal protection
equipment including head protection gears, eye and ear protection gears,
apparels and many more. Their optimum quality protection equipment is widely
used across the globe in various industries. Led under the able mentor ship of
their Directors, Export Manager, Technical Manager and Production Manager, they
are able to expand their business and maintain a phenomenal success. Their
industrial experience and sharp business acumen allow them to cater their
protection equipment to different industries.
Their professionals have vast industrial experience in their respective domain
which enables them to design and develop the range as per the requirement of
their clients. Their cutting edge technology allows them to provide qualitative
range that is at par with international standard. They are able to cater their
range within stipulated time frame through their wide distributing network.
They cater their range to global clients whereas for the domestic client their
sister concern Industrial Appliances and Technologies.
Besides they are an ISO 9001:2000
certified company and have got their safety harness CE approved and CE
marked.
Policy: "The
samples would be 'Free Of Cost', Freight Charges will be "To Pay"
basis.
Payment Terms: For New Buyers
100% Irrevocable L/C - At Sight or 40% Advance Payment and 60% immediately
after they fax the B/L copy.
Product Profile
They offer comprehensive range of personal protective equipment which are manufactured using qualitative raw material in the production process. Their comprehensive range includes
• Head protection equipment
• Fall protection equipment
• Eye protection equipment
• Ear protection equipment
• Protective apparel
• Apparel and foot protection equipment
Under their category of head protection equipment they offer Executive,
Economic Head Protection, Unique Head Protection, Miners Head Protection and
Whirlwind Head Protection. For protection at the job site they offer fall
protection which comprises of contractor harness, retrieval harness, climbing
harness and positioning harness. Through their qualitative measures they are
able to offer protective measures for eye and ear such as face shield, ear
muff, ear plug, chemical goggles and welding gloves. Under the apparel and foot
protection category they offer PVC suits and coat with hoods, PVC apron,
chemical suits, fire retardant clothing, high visibility safety clothing and
safety shoes.
Some of the salient features of their personal protective equipment are as
follows:
• Chemical resistance
• Heat resistance
• Fire resistance
• Soundproof [ear protection]
Their premium quality personal protection equipment are widely used across
various industries where hazardous elements such as chemicals, fire, noise
pollution and many more are prevalent. Some of the industries include steel,
mine, chemical, construction and a lot more.
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 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.47.71 |
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UK Pound |
1 |
Rs.83.30 |
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Euro |
1 |
Rs.65.12 |
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 |
5 |
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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 |
5 |
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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 |
YES |
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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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35 |
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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