MIRA
INFORM REPORT
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Report Date : |
09.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
VALUE LINE HOMESTYLE PRIVATE LIMITED |
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Registered Office : |
Plot No.1347, Road No.68,Jubilee Hills,Hyderabad -500033, Andhra
Pradesh |
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Country : |
India |
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Date of Incorporation : |
18.12.2007 |
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Com. Reg. No.: |
56737 |
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CIN No.: [Company
Identification No.] |
U74999AP2007PTC056737 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject acts as Sanitaryware Dealers. |
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 : |
New Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and in the process of establishing itself. The company is yet to file its first financials with the Government
Departments. The Management parted general information. Trade relations are fair.
Payments are reported as slow but correct. The company can be considered good for small to mediocre business. |
INFORMATION PARTED
BY
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Name : |
Mr.N.S.R.Murthi |
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Designation : |
Manager Finance |
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Contact No.: |
91-9246399064 |
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Date : |
02.09.2008 |
LOCATIONS
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Registered Office : |
Plot No.1347, Road No.68,Jubilee Hills,Hyderabad , Andhra Pradesh –
500033,India |
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Tel. No.: |
91-891-6467669 |
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Mobile No.: |
91-9246399064 (Mr.N.S.R.Murthi) |
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Fax No.: |
91-891-500033 |
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E-Mail : |
Meridianconsultants@yahoo.co.in |
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Area : |
2400 sq.fts. |
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Location : |
Rented |
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Branch: |
Jaya Nagar,Opp. Sonata Software,29,R.V.Road,Basavangudi,Bangalore |
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Area : |
2500 sq.fts. |
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Location : |
Rented |
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Branch/ Warehouse : |
Rana Talkies Road,CGM Compound,Vishakhapatnam - 53000 |
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Area : |
2000 sq.fts. |
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Location : |
Rented |
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DIRECTORS
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Name : |
Mrs.Seema Anand |
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Designation : |
Director |
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Address : |
Plot No.1346,Road No.68,Jubilee Hills , Hyderabad , Andhra
Pradesh-500033, India |
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Age : |
39 years |
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Qualification : |
M.B.A |
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Name : |
Mr.Bal Ram Anand |
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Designation : |
Director |
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Address : |
Flat No.A1 Sushant Apartment, Sushant Lok Phase – 1,Gurgaon,Haryana
-122002 ,India |
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Age : |
66 Years |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mrs.Seema Anand |
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5000 |
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Mr.Bal Ram Anand |
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5000 |
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Total |
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10000 |
BUSINESS DETAILS
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Line of Business : |
Subject acts as Sanitaryware Dealers. |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
L/C ,T/T |
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Purchasing : |
L/C , T/T |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
100 (in office 70 + 10 in warehouse + 20 in Branches) |
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Bankers : |
Banjara Hills, Branch |
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Facilities : |
Cash / Credit – Rs.10.000 millions , L/C Rs.10.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Chartered Accountant Hydrabad |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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NA |
NA |
NA |
NA |
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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20.000 |
Expected Sales (2008-09) : Rs.140.000 millions
LOCAL AGENCY FURTHER
INFORMATION
FORM 8
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This form is for |
Creation of
charge |
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Charge
identification number of the modified
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Corporate
identity number of the company |
U74999AP2007PTC056737 |
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Name of the
company |
VALUE LINE
HOMESTYLE PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Plot No.1347,Road
No.68,Jubilee hills, Hyderabad,Andhra
Pradesh-500033,India |
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Type of charge |
Immovable Property |
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Particular of
charge holder |
UCO Bank 8-2-624,Ground
Floor,Road No.10.Banjara Hills,Hyderabad,Andhra Pradesh-500034 ucobh@sancharnet.in |
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Nature of
description of the instrument creating or modifying the charge |
Term loan
agreement Dated- 24.04.2008 Hypothecation
agreement of furniture and fixture dated – 24.04.2008 |
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Date of
instrument Creating the charge |
24.04.2008 |
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Amount secured by
the charge |
Rs.10.000
millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
a)
Rate of Interest: BPLR+2% that is
presently 15.50% per annum (monthly rests) interest to be serviced as and
when charged. Rate of interest shall be subject to revision at banks own
discretion or polices as circulates if any RBI directives issued/ to be issued
from time to time. b)
Terms of Repayment Repayable in
twelve quarterly installments of commencing six month after 1st
disbursement are from October 2008 c)
Margin 40% d)
Extent and operation of the charge Fixed Assets of
the company (Present and future) |
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Short particulars
of the property charged |
Fixed Assets of
the company (present and future) |
TRADE REFERENCES:
- Tofo Limited (Singapore)
- Villeroi Boch and Ag (Germany)
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.44.26 |
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UK Pound |
1 |
Rs.79.00 |
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Euro |
1 |
Rs.63.53 |
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 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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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 |
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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27 |
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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