MIRA
INFORM REPORT
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Report Date : |
10.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
VALI STONE PRIVATE LIMITED |
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Registered Office : |
Stone Park, Opp. Neeladri Park Electronic City, Bangalore – 561 229, Karnataka |
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Country : |
India |
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Date of Incorporation : |
10.03.2000 |
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Com. Reg. No.: |
08 – 26569 |
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CIN No.: [Company
Identification No.] |
U14101KA2000PTC026569 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Supplier of Natural Stone. |
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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Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company but poor in Corporate Governance as
it failed to part any financial statements, so far. It’s payments are reported as slow but correct. The company can be considered for small business dealings on safe and
secured trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Chandru |
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Designation : |
Manager |
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Date : |
06.09.2008 |
LOCATIONS
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Registered Office : |
Stone Park, Opp. Neeladri Park Electronic City, Bangalore – 561 229,
Karnataka, India |
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Tel. No.: |
91-80-28528456/ 28528889/ 28528890 |
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Fax No.: |
91-80-28528482 |
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E-Mail : |
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Website : |
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Corporate Office : |
No. 697/ 75, 30th Cross, 4th ‘T’ Block, Near Sagar
Apollo Hospital, Jayanagar, East End Road, Bangalore – 560 041, Karnataka,
India |
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Tel. No.: |
91-80-65363103 |
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Fax No.: |
91-80-22450988 |
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Location : |
Rented |
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Factory : |
D M S Granite, Near STD Tower, Kuppam, Andhra Pradesh, India |
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Factory : |
21, Ext. Vallabh Nagar, Kota – 324 007, Rajasthan, India |
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Tel. No.: |
91-744-2502809 |
DIRECTORS
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Name : |
Mr. Hydervali Dhaniyal |
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Designation : |
Managing Director |
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Address : |
No. 34, S R K Garden, Jaya Nagar, Bangalore – 560 041, Karnataka,
India |
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Date of Birth/Age : |
21.05.1960 |
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Qualification : |
B. Com (LLB) |
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Date of Appointment : |
14.03.2000 |
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Name : |
Mrs. Ayesha Vali |
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Designation : |
Director |
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Address : |
No. 34, S R K Garden, Jaya Nagar, Bangalore – 560 041, Karnataka,
India |
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Date of Birth/Age : |
13.12.1966 |
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Date of Appointment : |
14.03.2000 |
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Name : |
Mr. Shahid Vali |
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Designation : |
Director |
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Address : |
No. 34, S R K Garden, Jaya Nagar, Bangalore – 560 041, Karnataka,
India |
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Date of Birth/Age : |
23 Years |
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Qualification : |
Under Graduate |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 29.09.2001
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Names of Shareholders |
No. of Shares |
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Mr. Hydervali Dhaniyal |
100 |
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Mrs. Ayesha Vali |
100 |
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Total |
200 |
Equity share breakup (Percentage of total equity)
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Sr. No. |
Category |
Percentage |
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1. |
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 Supplier of Natural Stone. |
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Products : |
v Sand Stone v Slates v Mosaic v Lime Stone v Granite v Gardenware v Aggregetes |
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Exports : |
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Countries : |
v UK v Australia v Denmark v Dubai |
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Terms : |
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Selling : |
L/C, Credit |
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Purchasing : |
Against ‘H’ (delivery) Form |
GENERAL
INFORMATION
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Customers : |
All types |
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No. of Employees : |
Total : 115 (Office: 15, Factory : 100) |
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Bankers : |
v Bank of Baroda Bangalore v United Bank of
India Bangalore |
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Auditors : |
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Name : |
Mohammed Hidiahtulla and Company Chartered Accountants |
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Sister Concerns : |
v H V Stone
Private Limited Address: 697/ 75, 30th Cross, 4th ‘T’ Block, Near
Sagar Apollo Hospital, Jayanagar, East End Road, Bangalore – 560 041,
Karnataka, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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25000 |
Equity shares |
Rs. 10/- each |
Rs. 0.250 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
Not Available
FINANCIAL DATA
[all figures are in Rupees Millions]
No financials are available since
incorporation of the company.
Management denied financial details.
LOCAL AGENCY
FURTHER INFORMATION
Form 8
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Name of the company |
VALI STONE PRIVATE LIMITED |
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Presented By |
Mr. Hyderali Dhanyal |
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1) Date and description of instrument creating the change |
Hypothecation of goods, debts and movable assetsdates 24.02.2003 executed in form no. 427 and 428. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.500 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 |
Stocks of raw material and finished products and Book debts. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
As Per Agreements of hypothecation enclosed. 1) Interest @ rate of 14.5% p.a. or at such other rate as may be communicated to the borrower by the bank from time to time which shall be calculate on the daily balances of accounts and charged in accordance with the practice of the bank. 2) All the borrowers present and future book debts, outstanding monies and the present and future stock of goods shall be hypothecated to the bank by way of 1st charge as security for the payment to the bank on demand of the balance of accounts at any time. |
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5) Name and Address and description of the person entitled to the charge. |
v United Bank of India Electronic City Branch, Bangalore |
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6) Date and brief description of instrument modifying the charge |
Hypothecation of goods, debts and movable assetsdates 15.03.2004 executed in form no. 427 and 428. |
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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. |
Total Limit has been enhanced from Rs. 2.500 millions to Rs. 4.500 millions. The Interest rate has been introduced from 14.5% p.a. to 13.25% p.a. as per the instrument referred in column 6 above. Other Terms and Conditions remains same. |
As Per Website
Details
Subject under the professional leadership of D. Hyder Vali, Managing Director, pioneered the exports of natural stone to various global destinations like European, Germany, France, Belgium, Austria and Scandinavian countries and United Kingdom etc. In about two decades of business journey, it has crossed many milestones.
The Production
Centres are strategically located in six provinces of India namely Karnataka, Tamil Nadu, Andhra Pradesh,
Rajasthan, Madhya Pradesh and
Uttar Pradesh. The Head office being located in "Stone Park" at Electronic City,
Bangalore. Varieties of Sandstone, Granite, Limestone, Slates, and garden
stoneware etc. In an pioneering effort to present natural stone in various
forms, shapes and textures, in actual applications, giving shapes to the
imaginations, the concept of "Stone Park" is evolved.
Stone Park is the flagship brand of subject is a leading producer,
processor and exporter of natural stone established in 1997. They are a fully
integrated stone company with own quarries and processing centers across
strategic locations in India. Stone
Park is a culmination of one man’s love with the beauty of stone.
Spread over 250,000 square feet is India’s largest permanent stone exhibition
center located in electronic city, Bangalore.
They bring a complete line of natural stones, an amazing range of
stoneware, components, artifacts, utilities and applications under one roof.
It is perhaps the only place in the country to display thousands of
varieties in sandstone, granite, limestone and slates in forms, shapes and
textures made interesting with live exhibits, real-time applications and work
areas. From a big-time builder, a professional architect or a home-maker, the
aim is to cater anyone and everyone looking for anything in stone.
The park is
located at electronic city just 10 km away from ‘Forum’ (Koramangala).
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 :
The 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.
The 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. 45.12 |
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UK Pound |
1 |
Rs. 79.60 |
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Euro |
1 |
Rs. 63.83 |
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 |
3 |
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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 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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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21 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
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