MIRA
INFORM REPORT
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Report Date : |
25.10.2008 |
IDENTIFICATION DETAILS
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Name : |
AMIRA TANNA INDUSTRIES PRIVATE LIMITED |
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Registered Office : |
L-401, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
28.04.2004 |
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Com. Reg. No.: |
04-44063 |
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CIN No.: [Company
Identification No.] |
U15127GJ2004PTC044063 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMA04620A |
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PAN No.: [Permanent
Account No.] |
AAECA8164G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Sesame Seeds. |
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 : |
- |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a 4 years old company having moderate track. The company
has not filed any financials after 2006 with the Government departments and the
management declined to part the same. Payments are reported as slow and
delayed. The company can be considered for any business dealings on safe and
secured terms only. |
LOCATIONS
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Registered Office : |
L-401, |
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Tel. No.: |
91-2764-326784 |
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Mobile No.: |
91-9879416030 |
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Fax No.: |
91-2764-281554 |
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E-Mail : |
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Area : |
3500 Sq. Mtrs. |
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Location : |
Owned |
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Factory : |
727/728, Village Moti Bhoyan, Kalol – 382 721, |
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Tel. No.: |
91-2764-326784 / 281554 |
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Fax No.: |
91-2764-281554 |
DIRECTORS
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Name : |
Mr. Anil Chanana |
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Designation : |
Director |
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Address : |
54, Prakriti Marg, Sultanpur Farms, Meharauli, |
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Date of Birth/Age : |
29.11.1946 |
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Qualification : |
Graduate |
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Date of Appointment : |
28.04.2004 |
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Name : |
Mrs. Arti Tanna |
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Designation : |
Director |
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Address : |
502, |
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Date of Birth/Age : |
18.02.1966 |
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Date of Appointment : |
30.05.2005 |
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Name : |
Mr. Dipak Tanna |
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Designation : |
Director |
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Address : |
Coolshanagh, |
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Date of Birth/Age : |
24.12.1958 |
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Qualification : |
Graduate |
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Date of Appointment : |
28.04.2004 |
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Name : |
Mr. Kunal Chanana |
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Designation : |
Director |
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Address : |
54, Prakriti Marg, Sultanpur Farms, Meharauli, |
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Date of Birth/Age : |
01.11.1977 |
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Qualification : |
Graduate |
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Date of Appointment : |
30.05.2005 |
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Name : |
Mr. Manu Bajaj |
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Designation : |
Director |
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Address : |
C-77, Sector 33, Noida, |
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Date of Appointment : |
12.10.2004 |
KEY EXECUTIVES
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Name : |
Mr. Hemant Gupte |
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Designation : |
General Manager |
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Address : |
91-919879416030 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 31.03.2006
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Names of Shareholders |
No. of Shares |
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Anil Chanana |
5000 |
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Dipak Tanna |
5000 |
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Total |
10000 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2006)
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Category |
Percentage |
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Directors or Relative of director |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Sesame Seeds. |
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Products : |
·
Natural Sesame Seed ·
Hulled Sesame Seed |
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Exports : |
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Products : |
Sesame Seeds |
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Countries : |
European Countries |
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Imports : |
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Countries : |
Ethopia |
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Terms : |
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Selling : |
L/C – Through Document |
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Purchasing : |
Cash and Credit (30 days / 60 days / 90 days) |
GENERAL INFORMATION
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Suppliers : |
·
Abhishek Industrial Security, Kalol ·
SGS India Private Limited, Mumbai ·
Naresh Patel, Ahmedabad ·
Chemicure Enterprises, Ahmedabad ·
Capro Project Electrical – New ·
Capro System Engineer – ·
Jay Engineering, Ahmedabad ·
Liladhar Pasoo Forwarders Private Limited, Mumbai ·
Tulsian Liladhar Pasoo Forwarders Private
Limited, Mumbai ·
Tulsian Tulsian and Associates, Ahmedabad |
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Customers : |
·
Industries ·
Fuerst Day Lawson Limited, ·
MSC Agency ( |
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No. of Employees : |
30 (In Office 9 and In Factory 21) |
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Bankers : |
·
Bank of India Ellis Bridge Branch, Opp. Town Hall, Ellisbridge,
Ahmedabad – 380 006, Gujarat, India ·
ICICI Bank, Delhi |
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Facilities : |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Ramesh Goyal and Associates Chartered Accountants |
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Address : |
C-83, 1st Floor, Lajpat Nagar – 1, New Delhi – 110 024,
India |
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Tel. No.: |
91-11-29812083 / 29812093 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
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 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.000 |
0.004 |
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4] (Accumulated Losses) |
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(1.993) |
0.000 |
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NETWORTH |
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(1.893) |
0.104 |
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LOAN FUNDS |
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1] Secured Loans |
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40.530 |
13.485 |
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2] Unsecured Loans |
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29.625 |
21.450 |
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TOTAL BORROWING |
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70.155 |
34.935 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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68.262 |
35.039 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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42.812 |
3.815 |
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Capital work-in-progress |
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3.426 |
28.351 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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18.971 |
0.000 |
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Sundry Debtors |
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2.595 |
0.067 |
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Cash & Bank Balances |
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3.045 |
2.557 |
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Other Current Assets |
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1.099 |
1.495 |
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Loans & Advances |
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0.027 |
1.766 |
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Total
Current Assets |
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25.737 |
5.885 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.853 |
3.185 |
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Provisions |
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0.000 |
0.002 |
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Total
Current Liabilities |
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3.853 |
3.187 |
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Net Current Assets |
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21.884 |
2.698 |
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MISCELLANEOUS EXPENSES |
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0.140 |
0.175 |
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TOTAL |
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68.262 |
35.039 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover |
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12.891 |
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Other Income |
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0.000 |
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Total Income |
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12.891 |
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Profit/(Loss) Before Tax |
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(1.686) |
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Provision for Taxation |
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0.310 |
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Profit/(Loss) After Tax |
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(1.996) |
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Total Expenditure |
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14.577 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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(15.48) |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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(13.08) |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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(2.46) |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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(0.89) |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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(39.09) |
366.56 |
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Current Ratio (Current Asset/Current Liability) |
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6.68 |
1.85 |
LOCAL AGENCY FURTHER INFORMATION
Trade References
·
Unicorn Ingredients, UK
Form No. 8
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Name of the company |
AMIRA TANNA INDUSTRIES PRIVATE LIMITED |
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Presented By |
Mr. Manu Bajaj |
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1) Date and description of instrument creating the change |
Hypothecation cum
loan agreement (Account M/C, Stock of Book Debt) dated 20th
January, 2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Various
facilities aggregate limit to Rs.120.000 millions but maximum Rs.88.000
millions as defined below:
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
Stocks and Book Debts. Hypothecation of
proposed machinery purchased / to be purchased situated at 727/728, Vill Moti
Bhoyan, Kalol, Gandhinagar |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest For EPC : 6.75%
p.a. on contracts upto 180 days For FBP : 6.75%
for bill upto 90 days For FBN : 6.75%
for bills upto 90 days For Term Loan :
.75% below BPLR Min 10% Repayment For Cash Credit
Repayable on Demand For Term Loan 20
quarterly installments started from December, 2005 |
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5) Name and Address and description of the person entitled to the charge. |
Bank of India Ellis Bridge Branch, Opp. Town Hall, Ellisbridge, Ahmedabad – 380 006,
Gujarat, India |
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6) Date and brief description of instrument modifying the charge |
Not Available |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Available |
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Corporate
identity number of the company |
U15127GJ2004PTC044063 |
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Name of the
company |
AMIRA TANNA INDUSTRIES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
L-401, Indraprasthanr Drive in Cinema, Gurukul Road, Thaltej,
Ahmedabad – 380 052, Gujarat, India |
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This form is for |
Creation of
charge |
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Type of charge |
Immovable
property |
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Particular of
charge holder |
Bank of India Ellis Bridge Branch, Opp. Town Hall, Ellisbridge, Ahmedabad – 380 006,
Gujarat, India |
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Nature of
instrument creating charge |
The Memorandum of
entry for creation of Equitable Mortgage in favour of Bank of India,
Ellisbridge Branch, Ahmedabad to secure the term loan and working capital
aggregate limits of Rs.88.000 millions Registered with sub Registrar Kalol at
SR No. 1063 of Book No. 1 on 15.02.2007 containing 8 (Eight) pages |
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Date of
instrument Creating the charge |
15.02.2007 |
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Amount secured by
the charge |
Rs.88.000
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate
of interest 0.75% below BPLR minimum 11.75% p.a. on monthly basis or such other
rate as may be prescribed by the Bank from time to time. ·
Terms
of repayment Term Loan – 20 Quarterly instalments of Rs.1.500 millions each staring
from December 2005 Working Capital (Fund Based) Exports Limits – On Demand / Annual
Review ·
Margin Term Loan – 48% Working Capital – 10% ·
Extent
and operation of the charge First and Exclusive Equitable Mortgage charge on immovable properties
of the company in favour of Bank of India. Ellisbridge Branch, Ahmedabad to
secure the fund based facility of Rs.88.000 millions along with accrued
interest, commission, charges, costs and expenses ·
Others The Term Loan of Rs.30.000 millions and Working Capital – Export
credits of Rs.58.000 millions total aggregating limits of Rs.88.000 millions
is further secured by Equitable mortgage on immovable properties by
Registered Memorandum of Entry dated 15.02.2007. |
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Particulars of
the property charged |
All that piece
and parcel, of NA freehold Land admeasuring 3964.95 Sq mtrs of Block No. 727
at Mouje Moti Bhoyan, Tal Karol Dist Gandhinagar along with buildings, sheds,
structures all that piece and parcel of NA Freehold land admeasuring 7387 Sq
Mtrs of Block No 728 at Mouje Moti Bhoyan, Tal Kalol Dist Gandhinagar along
with buildings, sheds, structures, immovable plant and machinery standing
thereon or to be erected |
Operations
The Company has commenced its business operations during the financial year
2005-06 and achieved a turnover of Rs.12.643 millions and suffered a loss of
Rs.1.686 millions. The Directors are hopeful that the Company will start making
profit in coming years.
Fixed Assets
·
Land
·
Building
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Road Construction
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Plant and Machinery
·
ETP Plant
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Lab Equipments
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Vehicles
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Furniture and Fixtures
·
Office Equipments
Web Details
Established
in the year 2005, Subject
were established with a vision to expand our business operations globally. In
just a year of the incorporation, they have established themselves as the most
accomplished manufacturer
and exporter of Natural Sesame Seed and Hulled Sesame Seed.
A perfect combination of technology and dedicated personnel is the key to the
successful business.
The
hygienic and quality products in addition to excellent customer services help
them to achieve maximum degree of customer satisfaction resulting in worldwide
customer base. The pursuit for excellence is a never ending process. They have
been always engaged in the research and development of the product range in
order to meet the specific requirements of the customers.
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.49.95 |
|
UK Pound |
1 |
Rs.79.56 |
|
Euro |
1 |
Rs.63.65 |
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 |
2 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
3 |
|
--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 |
- |
|
DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
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 |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
18 |
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 |
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