MIRA
INFORM REPORT
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Report Date : |
02.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
KJUMBO EXIMP PRIVATE LIMITED |
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Registered Office : |
Hari-Kanchan, Plot No.176, Sector – 21, Beh UTI Tower, Nerul (East), Navi
Mumbai – 400 706, Maharashtra |
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Country : |
India |
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Date of Incorporation : |
15.12.2004 |
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Com. Reg. No.: |
150025 |
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CIN No.: [Company
Identification No.] |
U51396MH2004PTC150025 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMK14600F |
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PAN No.: [Permanent
Account No.] |
ACEPS9220N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Trader of Computer Stationery and Security Printing
Items. |
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 : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
The company’s Bankers State Bank of Travancore’s experience with the Company is good. Present manager of the bank has been dealings with the company since
last 3 years. The company is poor in Corporate Governance since it has not filed any
financials with the company Law Board departments. The company’s payments are reported as slow in the market. However, it can be considered for small to mediocre business dealings
at usual trade terms and conditions with some caution. |
LOCATIONS
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Registered Office : |
Hari-Kanchan, Plot No.176, Sector – 21, Beh UTI Tower, Nerul (East),
Navi Mumbai – 400 706, Maharashtra, India |
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Tel. No.: |
91-22-27710145 |
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Mobile No.: |
91-982053479 |
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Fax No.: |
91-22-27706910 |
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Email : |
DIRECTORS
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Name : |
Mr. Yudhviramsingh Harisingh Solanki |
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Designation : |
Director |
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Address : |
Hari Kanchan Plot 176, S3ctor 21, Nerul, Navi Mumbai, - 400 706,
Maharashtra, India |
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Date of Appointment : |
15.12.2004 |
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Name : |
Mrs. Manjiri Yudhviramsingh Solanki |
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Designation : |
Director |
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Address : |
Hari Kanchan Plot 176, S3ctor 21, Nerul, Navi Mumbai, - 400 706,
Maharashtra, India |
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Date of Appointment : |
15.12.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Yudhviramsingh Harisingh Solanki |
500 |
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Manjiri Yudhviramsingh Solanki |
500 |
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Mandar Vibhakar Vaidya |
1 |
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Total |
1001 |
Equity shares Breakup (percentage of total equity)
(As on 26.09.2005)
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Trader of Computer Stationery and Security
Printing Items. |
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Products : |
·
Computer Stationary ·
Labels ·
Compatible Computer Cartridges ·
Carbon Papers ·
Inks ·
Aluminium Foils |
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Brand Names : |
KJumbo |
GENERAL INFORMATION
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No. of Employees : |
75 |
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Bankers : |
State Bank of
Travancore Kandivili (West)
Branch, Sri Ram Jai Ram Building, 84, S V Road, P. B. 7680, Mumbai – 400 067,
Maharashtra, India |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Atul Avinash Joshi Chartered Accountants |
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Address : |
103, Shree Sai Apartment, Shavaji Path – 2, Raju Nagar, Dombivli
(West), Mumbai – 421 202, Maharashtra, India |
CAPITAL STRUCTURE
(As on 26.09.2005)
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1001 |
Equity Shares |
Rs.100/- each |
Rs.0.100
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
The company has not filed financials since
it’s incorporation in 2004.
Management also denied to part the same.
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
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Name of the company |
KJUMBO EXIP PRIVATE LIMITED |
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Presented By |
Kjumbo Exip Private Limited and State Bank of Travancore, Kandivli
(West), Mumbai – 67 |
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1) Date and description of instrument creating the change |
12.11.2005 Agreement of
Hypothecation of Goods and Assets Memorandum of
Deposit of Title Deeds. Both dated 12th
November 2005 and relate to single charge. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.3.300 millions |
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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 |
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Hypothecation
by way of first charge all the present and future goods, book debts and all
other movable assets of the Company including documents of title to the
goods, outstanding moneys, receivables including receivables by way of cash
assistance and / or cash incentives under the cash incentive scheme or any
other scheme claims including claims by way of refund of customs / excise
duties under the duty drawback credit scheme or any other scheme, bills,
invoices, documents, contracts, insurance policies, guarantees, engagements,
securities, investments and rights and the presenting machinery and all
future machinery belonging to or in the possession or under the control of
the company wherever lying stored and kept and whether in possession of the
Company or of the Bank or of any third party whether in India or elsewhere
throughout the world. ·
Mortgage by
deposit of Title Deeds of the immovable property of the Company together with
buildings, structures and immovable plant and machinery existing or to be
constructed thereon lying and being at Plot No. 483, TTC Industrial Area,
MIDC Rabale, Navi Mumbai in Thane taluka and Thane district bounded by : North : Plot No.
R-482, South : Estate
Road East : Estate
Road West : Plot No.
R-484 in Sy. No. 44, CTS No. 667 Admeasuring 540
sq.mtrs. with building strucvture standing thereon for 175.90 sq.mtrs. on the
Plinth and 175.90 sq.mtrs on the Basement and 2600 sq.ft on the first floor. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The above charge
operates as security for the Cash Credit limit of Rs.3.300 millions together
with interest, additional interest, costs, charges, expenses and all other
moneys payable by the Company to the Bank in terms of sanction. Rate of Interest
: 1% below SBTPLR with a minimum of 10% p.a. with monthly rests subject to
revision by the Bank from time to time. |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of
Travancore Kandivili (West)
Branch, Sri Ram Jai Ram Building, 84, S V Road, P. B. 7680, Mumbai – 400 067 |
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6) Date and brief description of instrument modifying the charge |
Nil |
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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. |
Nil |
Web Details
A name that is an adjective to the services
it offer, Subject is major players in manufacturing, exporting and trading of
Computer Stationery and Security Printing Items.
Today, they are suppliers of refill kit inks
( black and color ) and toners ( magnetic and non magnetic) in India. They are
also engaged in the production of various paper and aluminum foil products used
in various industries.
History
Incepted in the year 1991, they commenced with the production of carbon paper, stencil
paper, duplicating inks and computer ribbons in the Mumbai plant. The growth
was recognized and this led to the tie up with a leading unit in the sphere of
computer stationery manufacturing and security printing.
They undertook the next venture in manufacturing of labels and shrink sleeves
where too, they have achieved a relatively great success. Subject has turned
out to be a formidable force in the Indian and African labeling industry.
Eventually in the year 1994, they graduated from simple mode of functioning to
a wide arena of operations. They forayed into manufacturing and exporting of
computer printer inks, and gradually the expertise in the field made them
capable of competing with HP and other branded computer ink manufacturing
companies.
Value-added
services
They are highly keen in ensuring complete customer satisfaction. To meet this
end, they offer value-added services in the following way:
Objective
With a firm believe in themselves and single-minded focus, the objective is to
create a name of repute, a brand name in the international market that is
similar to what they have attained in the domestic sphere.
All the products are categorized under the brand name “KJumbo” which signifies
strength and steadiness; and they hold the same concept and attitude towards
the products and services. With this objective in mind, they are heading
towards a phenomenal growth with all the vigor and vitality.
Infrastructure and
Team
The company incorporates a state-of-the-art manufacturing unit situated in
Mumbai, Navi Mumbai and Palghar, operating large scale projects to absolute
perfection. They possess appropriately designed pre-press, press, printing
machines as well as CNC equipments. CAD/CAM engineering techniques in
combination with latest technological machineries are employed to ensure high
quality output.
They possess a pool of management experts, professional artists, computer and
mechanical engineers to guide the complete production procedure. The workforce
is imparted intensive technical and practical training to enhance their
efficiency.
Adequate provision is made to maintain a good amount of stock so as to meet any
sudden surge in demand and thereby entrust a reliability factor with the
clients. With such resources at the command, they are able to provide a highly
attractive and cost-effective range of quality products.
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.44.21 |
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UK Pound |
1 |
Rs.79.76 |
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Euro |
1 |
Rs.64.72 |
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 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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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 |
4 |
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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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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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