MIRA INFORM REPORT

 

 

Report Date :

24.10.2008

 

IDENTIFICATION DETAILS

 

Name :

GOPINATH ENTERPRISE PRIVATE LIMITED

 

 

Registered Office :

A – 29, Shreenath Park, Opposite Jogeshwari Park, CTM, Amraiwadi, Ahmedabad – 380 026, Gujarat

 

 

Country :

India

 

 

Date of Incorporation :

08.02.2008

 

 

Com. Reg. No.:

052866

 

 

CIN No.:

[Company Identification No.]

U25200GJ2008PTC052866

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMG03592B

 

 

PAN No.:

[Permanent Account No.]

AADCG0475F

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Tarpaulins, Tents, PP Woven Fabric Bags and Truck Covers.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

---

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow and delayed

 

 

Litigation :

Clear

 

 

Comments :

Management remained non co-operative during current investigation.

 

Subject is a new company and yet to establish its track.

 

No payment records are available.

 

Initially, the company can be considered for any business dealings on safe and secured trade terms and conditions, only.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Bharat Agarwal

Designation :

Director

Contact No.:

Mobile no.91-9374788772

Date :

22.10.2008

 

 

LOCATIONS

 

Registered Office :

A – 29, Shreenath Park, Opposite Jogeshwari Park, CTM, Amraiwadi, Ahmedabad – 380 026, Gujarat, India.

Tel. No.:

91-79-25857634

Mobile No.:

91-9374788772/ 9374788771/ 9374788774/ 9898046991

Fax No.:

91-79-25857634

E-Mail :

gopinathent@gmail.com

shreenathji@citizensindia.com

Website :

http://www.gopinathtarpauline.com

Area :

1200 sq ft

Location :

Owned

 

 

Factory :

Block No. 162, Behind Bharat Aluminium, Santej Vadsar Road, Santej District, Gandhi Nagar, Kalol – 382 721, Gujarat, India.

Tel. No.:

91-2764-292264

Fax No.:

91-2764-292264

Area :

100000 sq ft

Location :

Owned

 

 

DIRECTORS

 

Name :

Mr. Bharatkumar Agarwal

Designation :

Managing Director

Address :

A – 29, Shreenath Park, Opposite Jogeshwari Park, CTM, Amraiwadi, Ahmedabad – 380 026, Gujarat, India.

Date of Birth/Age :

13.03.1977

 

 

Name :

Mr. Manishkumar Agarwal

Designation :

Director

Address :

A – 29, Shreenath Park, Opposite Jogeshwari Park, CTM, Amraiwadi, Ahmedabad – 380 026, Gujarat, India.

Date of Birth/Age :

17.05.1982

 

 

Name :

Mr. Dineshkumar Agarwal

Designation :

Director

Address :

A – 29, Shreenath Park, Opposite Jogeshwari Park, CTM, Amraiwadi, Ahmedabad – 380 026, Gujarat, India.

Date of Birth/Age :

13.10.1978

 

 

Name :

Mr. Ram Lakhan Agarwal

Designation :

Director

Address :

A – 29, Shreenath Park, Opposite Jogeshwari Park, CTM, Amraiwadi, Ahmedabad – 380 026, Gujarat, India.

Date of Birth/Age :

10.07.1953

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 06.02.2008

 

Names of Shareholders

No. of Shares

Bharatkumar Agarwal

62400

Manishkumar Agarwal

60000

Dineshkumar Agarwal

60000

Ramlakhan Agarwal

57600

Total

240000

 

As on 15.05.2008

 

Names of Allottees

No. of Shares

Bharatkumar Agarwal

197600

Manishkumar Agarwal

190000

Dineshkumar Agarwal

190000

Ramlakhan Agarwal

182400

Total

760000

 

As on 18.06.2008

 

Names of Allottees

No. of Shares

Bharatkumar Agarwal

130000

Manishkumar Agarwal

125000

Dineshkumar Agarwal

125000

Ramlakhan Agarwal

120000

Total

500000

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Tarpaulins, Tents, PP Woven Fabric Bags and Truck Covers.

 

 

Products :
  • HDPE and PP Woven Fabric Bags
  • Tents
  • Truck Covers
  • Tarpaulins
  • HDPE Bags/Sacks

 

 

Terms :

 

Selling :

Cash

 

 

Purchasing :

Cash

 

GENERAL INFORMATION

 

Customers :
  • Wholesalers
  • NGO’s
  • Dealers
  • Distributors

 

 

No. of Employees :

108 (In office – 8, In factory – 100)

 

 

Bankers :

State Bank of India, Sales Hub, Ground Floor, Zonal Office, C N Vidhyaiay Campus, Ambawadi, Ahmedabad – 380 015, Gujarat, India

 

 

Facilities :

CC – Rs.15.000 Millions

 

 

 

Banking Relations :

Unknown

 

 

Auditors :

 

Name :

Deepak Jala and Company

Chartered Accountants

 

 

Associates/Subsidiaries :

NIL

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

1510000

Equity Shares

Rs.10/- Each

Rs.15.100 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

Not Available

 

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

 

31.03.2008

Sales Turnover

 

 

80.000

 

 

 

 

 

Expected Sales (2008-09) : Rs.300.000 Millions

 

No financials are available as the subject is a new company.

 

LOCAL AGENCY FURTHER INFORMATION

 

Note: They have sister concern company but recently they merged with subject.

 

 

TRADE REFERENCES:

 

  • Lincon Polymers Private Limited, Gandhi Nagar
  • Harsh Packaging, Chattral Mehsana

 

 

This form is for

Creation of charge

Corporate identity number of the company

U25200GJ2008PTC052866

Name of the company

GOPINATH ENTERPRISE PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

A – 29, Shreenath Park, Opposite Jogeshwari Park, CTM, Amraiwadi, Ahmedabad – 380 026, Gujarat, India.

Type of charge

Immovable Property

Particular of charge holder

State Bank of India, Sales Hub, Ground Floor, Zonal Office, C N Vidhyaiay Campus, Ambawadi, Ahmedabad – 380 015, Gujarat, India

E-Mail: roopesh.gehlot@sbi.co.in

Nature of description of the instrument creating or modifying the charge

Memorandum for recording creation of mortgage by deposit of Title Deeds dated 17.06.2008 executed by the company to secure the term loan and cash credit – book debts fund based aggregate limit of Rs.42.600 Millions.

Date of instrument Creating the charge

17.06.2008

Amount secured by the charge

Rs.42.600 Millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest: Cash Credit – 1% above SBAR (SBAR = 12.25%). Presently effective rate – 13.25% p.a. with monthly rests basis or such other rates as may be prescribed by the Bank from time to time.

 

Term Loan – 1.50% above SBAR (SBAR = 12.25%). Presently effective rate – 13.25% p.a. with monthly rests basis or such other rates as may be prescribed by the Bank from time to time.

 

Terms of Repayment: Cash Credit – Repayable on demand/ Annual Review

Term Loan – Repayable in 76 (seventy six) monthly installments of Rs.0.363 Million, each, with the first installment commencing on December, 2008 and the last installment falling due on March, 2015. 

 

Margin: Raw Material Domestic : 25%

Stock in process : 30%

Finished Goods : 30%

Book Debts (cover period 60 days) : 50%

 

Extent and Operation of the charge: First and exclusive charge on all the properties described to memorandum for recording creation of mortgage by deposit of title deeds dated 17.06.2008 to secure the aggregate limits of Rs.42.600 Millions along with the interest, additional interest, Pinal interest, costs, charges, commission and all other amount due to Bank from time to time of whatsoever nature.

 

Others: Fund Based Limit are:

Cash Credit – Book Debts (stock and book debts) Rs.15.000 Millions

Term Loan – Rs.27.600 Millions

Total Aggregate Maximum Limits: Rs.42.600 Millions

Short particulars of the property charged

All that piece or parcel of leasehold non-agricultural land bearing Block 162 admeasuring 4912 sq meters (Plot area) and 2480 sq meters (built-up area) standing thereon of Mouje Santej of Kalol Taluka in the registration district of Gandhi Nagar and the sub district of Kalol and same is bounded as follows:

On or towards the North: by Road and Block No.208 on or towards the South : by Block No 163 and 198 on or towards the East : by Block No. 198 on or towards the West : by Block No.160 and 161.

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.79

UK Pound

1

Rs.81.27

Euro

1

Rs.63.91

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

--

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

--

--PROFITABILIRY

1~10

--

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--RESERVES

1~10

--

--CREDIT LINES

1~10

3

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

19

 

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

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions