MIRA
INFORM REPORT
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Report Date : |
12.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
ADELINA HOMES FASHIONS PRIVATE LIMITED |
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Registered Office : |
E-103, Shahstri Nagar, Meerut – 250 005, Uttar Pradesh |
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Country : |
India |
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Date of Incorporation : |
23.01.2007 |
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Com. Reg. No.: |
32771 |
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CIN No.: [Company
Identification No.] |
U18109UP2007PTC032771 |
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IEC No.: |
0506088804 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MRTA02961A |
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PAN No.: [Permanent
Account No.] |
AACCA1776J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Textile and Home Furnishings. |
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 : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and yet to establish it’s track. The company is expressed to do well. It’s payments are reported as correct. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Devang Mittal |
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Designation : |
Director |
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Contact No.: |
91-9760002040 |
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Date : |
08.09.2008 |
LOCATIONS
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Registered Office : |
E-103, Shahstri Nagar, Meerut – 250 005, Uttar Pradesh, India |
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Tel. No.: |
91-121-2531518 |
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Mobile No.: |
91-9760002040 / 931977388 |
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Fax No.: |
91-121-4006521 |
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E-Mail : |
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Website : |
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Area : |
2000 Sq. Yard |
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Location : |
Owned |
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Factory : |
Essar, Near Petrol Pump, Maukhas Garh Road, Meerut, Uttar Pradesh,
India |
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Tel. No.: |
91-121-2960002 |
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Mobile No.: |
91-9760002040 |
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Area : |
4000 Sq. Yard |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Deepan Mittal |
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Designation : |
Director |
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Address : |
E-103, Shastri Nagar, Meerut – 250 005, Uttar Pradesh, India |
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Date of Birth/Age : |
03.01.1979 |
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Qualification : |
Post Graduate |
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Name : |
Mr. Kuldeep K Mittal |
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Designation : |
Director |
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Date of Birth/Age : |
58 Years |
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Qualification : |
Graduate |
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Name : |
Mrs. Saroj Mittal |
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Designation : |
Director |
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Date of Birth/Age : |
55 Years |
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Qualification : |
Graduate |
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Name : |
Mr. Devang Mittal |
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Designation : |
Director |
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Date of Birth/Age : |
32 Years |
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Qualification : |
Post Graduate |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
List of Allotment as on 31.03.2008
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Names of Allottees |
No. of Shares |
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Kuldeep Kumar Mittal |
10000 |
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Saroj Mittal |
10000 |
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Devang Mittal |
10000 |
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Deepam Mittal |
10000 |
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Total |
40000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Textile and Home Furnishings. |
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Exports : |
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Products : |
Home Furnishing |
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Countries : |
·
USA ·
Europe |
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Terms : |
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Selling : |
L/C - Advence |
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Purchasing : |
L/C – depends |
GENERAL
INFORMATION
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Customers : |
·
Wholesalers ·
Retailers |
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No. of Employees : |
32 (In Office 7 and In Factory 25) |
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Bankers : |
State Bank of India RASMECCC, Baghpat Road, Meerut – 250 002, Uttar Pradesh, India |
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Facilities : |
CC upto Rs.3.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Tyagi (Sunil Kumar Tyagi) Chartered Accountants |
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Associates/Subsidiaries : |
New Patel Textile Address: Khandak Bazar,
Meerut Line of
Business: Textile Fabrics |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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Not Available |
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FINANCIAL DATA
[all figures are in Rupees Millions]
No Financials are available as the subject is
a new company.
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance Chart
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Parameters |
Details |
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Existence Verification |
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Name |
ADELINA HOMES FASHIONS PRIVATE LIMITED |
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Statutory Approvals |
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Legal Status of Firm |
Private Limited |
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Income Tax Registration |
AACCA1776J |
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VAT/ TIN Registration |
09478601892 |
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Import Export Code |
0506088804 |
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Name of Bank |
State Bank of India |
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Current Account Number |
30325032431 |
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Account Since |
From 7 Months |
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Standards & Certifications ISO |
27335/A/001/MB/000/EN |
Trade References
·
Amar Textile (Gurgaon)
·
Texmart Creation Private Limited (Ahmedabad)
Form No. 8
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Corporate
identity number of the company |
U18109UP2007PTC032771 |
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Name of the
company |
ADELINA HOMES FASHIONS PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in India of the company |
E-103, Shahstri Nagar, Meerut – 250 005, Uttar Pradesh, India |
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This form is for |
Creation of
charge |
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Type of charge |
·
Immovable
property ·
Book debts ·
Movable
property (not being pledge) |
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Particular of
charge holder |
State Bank of India RASMECCC, Baghpat Road, Meerut – 250 002, Uttar Pradesh, India |
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Nature of
instrument creating charge |
·
Letter of confirmation
for creation of mortgage by deposit of title deeds (SME-6) ·
Agreement of
loan cum hypothecation (SME-2) |
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Date of
instrument Creating the charge |
01.02.2008 |
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Amount secured by
the charge |
Rs.3.000 millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
·
Rate of
interest 0.75% above SBAR minimum 13.50% p.a. with monthly rests. ·
Terms of
repayment On Demand ·
Margin Stock = 25% Domestic Receivables = 40% ·
Extent and
operation of the charge 100% As per Agreement ·
Others NIL |
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Particulars of
the property charged |
1.
One plot and
construction thereon having an area 1529.05 sq. mtrs. Consisting of Khasre
No. 291, situated at Village Patti Khekri, Garh Road, Meerut in the name of
the company. 2.
Hypothecation
of stocks and receivables and other current assets. |
Web Details
Profile
Subject, commenced its production in 1921 with its first handloom fabric
unit which was set up in Uttar Pradesh. Since then they have traversed a long way.
They are specialist in manufacturing and exporting of home furnishing products,
the range includes Smocking Cushion Cover, Natural Cushion Cover, Tuffted
Cushion Cover, Decorative Pillow, Embroidered Cushion Covers, Printed Bed
Sheet, Patchwork Bed Sheet, High TC Sheet Sets, Apron, Pot Holder, Quilts and
Table Cloth.
Enjoying excellent reputation among the clients, they have connected all
aspects of textile industry. They have earned a commendable position in developing
continuously new products, styles, finishes and concepts. They are proud of the
efforts, constant innovation, strict quality control parameters, timely
delivery schedules and the use of innovative technology. This has rewarded them
with a high level of customer satisfaction.
Motto
The motto is to provide the
buyers with vibrant colors, beautiful patterns and design which are both
traditional and contemporary. Coupled with quality of highest standards, they
are also competitively priced.
Product Profile
They manufacture wide range of
home furnishing products, which are used in dining rooms, kitchen, bedrooms,
drawing rooms and even in offices. The product range encompasses Smocking
Cushion Cover, Natural Cushion Cover, Tuffted Cushion Cover, Decorative Pillow,
Embroidered Cushion Covers, Printed Bed Sheet, Patchwork Bed Sheet, High TC
Sheet Sets, Apron, Pot Holder, Quilts and Table Cloth.
The home furnishing products are made using various raw materials like silk,
cotton, velvet, satin, net, nylon, etc. They are available in various colors
and patterns, which complement the décor of the room. Color fastening and
highly durable, the products are widely demanded and appreciated in the global
markets.
Team
They have a well-trained
workforce of designers and craftsmen who have an excellent knowledge of
designing and manufacturing home furnishing products. With the vast network and
association with expert procurement specialist, they source raw materials with
great ease. The designers with their creative skills and expertise create
ensembles, which are unique and exemplary. Each work done by the workforce
stands totally unmatched in perfection and combination. Any idea can be easily
converted into design by the team with great efficiency.
Clients
They have built up the client
base with superior quality products and complete customer satisfaction. The
clients have trust on them and they strive to upkeep the same with the
commitment and dedication. With the fair dealings and proper communication
network, they are searching for new markets to expand the horizon and business
opportunities.
The Collection
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Smocking Cushion Covers
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Designer Cushion Covers
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Embroidered Cushion Covers
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Quilts
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Embroidered Bed Sheet
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High TC Sheet Sets
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Hand Bags
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Apron
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Table Cloth
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.44 |
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UK Pound |
1 |
Rs.79.62 |
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Euro |
1 |
Rs.63.48 |
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 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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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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28 |
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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