MIRA
INFORM REPORT
|
Report Date : |
13.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
RAJAT EQUIPMENTS PRIVATE LIMITED |
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Registered Office : |
Plot No.3-4-A, Ring Road No. 2, Village – Sarora, Urla Industrial
Area, Raipur – 493 221, Chattisgarh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
29.12.2006 |
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Com. Reg. No.: |
10-20152 |
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CIN No.: [Company
Identification No.] |
U29219CT2006PTC020152 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JBPR01944F / PNER10153D |
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PAN No.: [Permanent
Account No.] |
AADCR5472P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Providing sales and servicing of a range of products though a
well-trained team of Engineers and marketing personnel. |
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 : |
USD 800 |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and had not commenced commercial operations
till 31.03.2007. No further details or payment could be made available. The company can be considered for any business dealings on safe and
secured terms only. |
LOCATIONS
|
Registered Office : |
Plot No.3-4-A, Ring Road No. 2, Village – Sarora, Urla Industrial
Area, Raipur – 493 221, Chattisgarh, India |
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E-Mail : |
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Website : |
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Raipur Office : |
Naveen Bazar, Phool Chowk, Raipur (C.G.), India |
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Tel. No.: |
91-771-2536771, 2536180, 4033440, 40334441 |
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Mobile No.: |
91-9826421900 |
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Fax No.: |
91-771-2536157 |
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E-Mail : |
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Pune Office : |
Block D II, Plot No. 64/20 MIDC, Chinchwad, Pune – 411 019,
Maharashtra, India |
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Tel. No.: |
91-772-30786771, 30786772 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr. Mahavir Kumar Golechha |
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Designation : |
Managing Director |
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Address : |
H. No. D-68, Shailendra Nagar, Raipur – 492 001, Chattisgarh, India |
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Date of Birth/Age : |
05.07.1956 |
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Date of Appointment : |
10.08.2007 |
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Name : |
Mr. Nirmal Chand Golechha |
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Designation : |
Director |
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Date of Birth/Age : |
12.03.1963 |
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Date of Appointment : |
29.12.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2007)
|
Names of Shareholders |
No. of Shares |
|
Mahavir Kumar Golechha |
95000 |
|
Nirmal Chand Golechha |
95000 |
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Vibha Golechha |
95000 |
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Total |
285000 |
List of Allotment As on 01.04.2007
|
Names of Allottees |
No. of Shares |
|
Mahavir Kumar Golechha |
90000 |
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Nirmal Chand Golechha, Karta, Nirmal Chand Golechha (HUF) |
90000 |
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Vibha Golechha |
90000 |
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Total |
270000 |
List of Allotment As on 01.10.2007
|
Names of Allottees |
No. of Shares |
|
Vibha Golechha |
27500 |
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Mahavir Kumar Golechha |
27500 |
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Nirmal Chand Golechha, Karta, Nirmal Chand Golechha (HUF) |
27500 |
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Total |
82500 |
List of Allotment As on 01.01.2008
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Names of Allottees |
No. of Shares |
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Jayshree Golechha |
600 |
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Paras Chand Golechha Karta, Paras Chand Golechha (HUF) |
900 |
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Vimal Chand Golechha Karta, Vimal Chand Golechha (HUF) |
1000 |
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Rajendra Kumar Golechha Karta, Rajendra Kumar Golechha (HUF) |
2000 |
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Chanda Devi Golechha |
500 |
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Jyoti Golechha |
600 |
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Prabha Golechha |
700 |
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Mahaveer Kumar Golechha Karta, Mahaveer Kumar Golechha (HUF) |
700 |
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Kamla Devi Golechha |
7400 |
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Kamal Chand Golechha Karta, Kamal Chand Golechha (HUF) |
800 |
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Suparas Chand Golechha Karta, Suparas Chand Golechha (HUF) |
1900 |
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Malay Golechha |
9000 |
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Total |
26100 |
List of Allotment As on 31.03.2008
|
Names of Allottees |
No. of Shares |
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Urmila Devi Agarwal |
3000 |
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Shyam Lal Suthar |
4000 |
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Gunjan Gupta |
3000 |
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Usha Sethia |
4000 |
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Sitaram Shaw |
3000 |
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Sandeep Khater |
5000 |
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Ashok Kumar Khater |
5000 |
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Kamla Devi Barmecha |
5000 |
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Total |
32000 |
Equity shares Breakup (percentage of total equity)
(As on
31.12.2007)
|
Category |
Percentage |
|
Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing sales and servicing of a range of products though a
well-trained team of Engineers and marketing personnel. |
GENERAL
INFORMATION
|
Customers : |
·
Bharat Aluminium Company Limited, Korba ·
Birla Corporation Limited, Satna ·
Beekay Engg. and Castings Bhilai ·
Rotocast Industries Limited ·
Lafarge India Limited,.Raipur ·
Ultratech Cement Limited, Hirmi ·
S.E.C.L Limited, Bishrampur ·
Cannon Dunkerley and Company Limited ·
H.C.L., Malanjkhand ·
Steel Power Limited, Raipur ·
Hira Ferroalloys Ind Synergy Limited,
Raigarh ·
Beg Fertilizers (Pulgaon Unit) ·
N.M.D.C, Bacheli ·
Ferro Scrap Nigam Limited, Bhilai ·
S.K. Marbles, Jabalpur ·
Dongargaon Paper Mill (P) Limited ·
Indian Broiler, Rajnandgaon ·
Chhattisgarh electricity Company Limited ·
Orissa Concrete and Allied Industries ·
Shri Bajrang Metallics and Power Limited ·
Vindhyatelelinks Limited, Rewa ·
Jyoti Structures Limited, Raipur |
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Bankers : |
Bank of Baroda Raipur Main Branch, Mahavir Caushala Complex, K K Road, Raipur – 492
001, Chattisgarh, India |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Begani and Begani Chartered Accountants |
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Address : |
Sadar Bazar, Raipur – 492 001, Chattisgarh, India |
CAPITAL STRUCTURE
(As on 31.12.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
285000 |
Equity Shares |
Rs.10/- each |
Rs.2.850
millions |
(As on 31.03.2007)
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000 |
Equity Shares |
Rs.10/- each |
Rs.0.150
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
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|
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.150 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.150 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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0.150 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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|
0.013 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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|
0.000 |
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Total
Current Assets |
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|
0.013 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.006 |
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Provisions |
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|
0.000 |
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Total
Current Liabilities |
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0.006 |
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Net Current Assets |
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0.007 |
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MISCELLANEOUS EXPENSES |
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0.143 |
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TOTAL |
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0.150 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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|
31.03.2007 |
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Sales Turnover |
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0.000 |
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Other Income |
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0.000 |
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Total Income |
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0.000 |
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Profit/(Loss) Before Tax |
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0.000 |
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Provision for Taxation |
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0.000 |
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Profit/(Loss) After Tax |
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0.000 |
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Expenditures : |
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Lease Rent to CSIDC |
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|
9.059 |
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Audit Fee |
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|
5.618 |
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Legal and Professional Expenses |
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|
2.500 |
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Printing and Stationery Expenses |
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|
0.514 |
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Miscellaneous Expenses |
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|
84.229 |
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Total Expenditure |
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101.920 |
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Note :
The SC was incorporated on December 29, 2006 and the subject has not
commenced its business activities during the period 29-Dec-06 to 31-Mar-07. Hence,
there is no P and L for the said period.
KEY RATIOS
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PARTICULARS |
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|
31.03.2007 |
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Debt Equity Ratio (Total Liability/Networth) |
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|
0.04 |
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Current Ratio (Current Asset/Current Liability) |
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|
2.17 |
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
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Corporate
identity number of the company |
U29219CT2006PTC020152 |
|
Name of the
company |
RAJAT EQUIPMENTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Plot No.3-4-A, Ring Road No. 2, Village – Sarora, Urla Industrial
Area, Raipur – 493 221, Chattisgarh, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Book debts ·
Movable
property (not being pledge) ·
Others |
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Particular of
charge holder |
Bank of Baroda Raipur Main Branch, Mahavir Caushala Complex, K K Road, Raipur – 492
001, Chattisgarh, India |
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Nature of
instrument creating charge |
1.
Instrument
of Hypothecation of Goods 2.
Hypothecation
of Book-Debts |
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Date of
instrument Creating the charge |
12.11.2007 |
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Amount secured by
the charge |
Rs.5.000 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
interest @ BPLR i.e. 13.25% p.a. ·
Terms of repayment Repayable on demand ·
Margin 25% ·
Extent and
operation of the charge The charge operate as first charge on the assets of the Company, more
particularly described at point no. 14, to secure due repayment of Cash Credit
(Hyp. of Stocks and Book Debts) Limit of Rs.5.000 millions sanctioned to the
Company by Bank of Baroda, Main Branch, Raipur. ·
Others Other terms and conditions as per agreements, and bank’s sanction
letter dated 12.11.2007 |
|
Particulars of
the property charged |
1.
Stocks
including all stocks of raw materials, work-in-process, semi finished goods
and finished goods, packing materials, store etc. 2.
All
book-debts, outstanding moneys, receivables etc. |
Web Details
A
dealership established in the year 1979 under the leadership of Mr. Mahaveer Golechha.
They
offer a comprehensive range of technically superior and Reliable
products. Over the years we have become a multi-products and multi-segment firm
The firm is situated of Escorts, Elgi,
Universal, Sandvik, BOSCH, GEM Equipments, BKT Tyres, Edicon and are constantly
looking for diversification.
They provide sales and
servicing of a range of products though a well-trained team of Engineers and
marketing personnel.
THey have a large customer base extending over and across Chhattisgarh.
Objectives
·
To conduct the business in an open and honest manner by providing
quality products.
·
To provide training to the customer's technicians and machine operators to
run the equipments
·
To exceed customer expectations through quality after-sales services.
·
To hire Great People and provide them with an environment to learn and
grow
·
To encourage creative solutions to achieve the best results
·
To provide feedback and reward great performance
·
To work together to WIN
Products
Balkrishna Tyres (BKT)
Balkrishna Tyres (BKT) is one of the world’s premier manufacturer of pneumatic tyres for special applications such as Agricultural, Industrial and Construction, ATV, Lawn and Garden and Earth Moving Equipments.
· Earth Mover Tyres
· Industrial and Construction Tyres
Elgi is today, the market leader and Asia's largest manufacturer of air
compressors and automobile service station equipment.
Sandvik Mining and Construction
Sandvik
business concept is based on a unique competence in materials technology. They
deal in Machinery equipment and tools for rock- excavation/Mining
Escorts Construction
Equipment Limited
is
a fully owned subsidiary of Escorts Limited, and belongs to one of the India's
largest multiproduct Engineering groups, with group sales turnover exceeding US
$ 900 Million. ECEL is the
largest Pick 'n' Carry manufacturer in the world.
UNIVERSAL is the largest selling Construction Equipment company
Universal has always
envisioned itself, built its foundations and focused its energies and working
towards growing beyond just another sound manufacturing company from India.
They, at Universal have always brought ourselves to reach International
standards, raise global benchmarks in technological breakthrough and set even
more respectable quality bars in competitive success stories. Universal, an ISO
certified company, is engaged in selling wide range of world class construction
equipments backed by excellent after sales service. It is situated in Pune, one
of the top industrial towns of India and considered to be the “Oxford of East”
and just around 150 Kms from Mumbai, the commercial capital of India.
Gem Equipment
World Class Compressed Air
and Accessories
EDICON
Quality Air Tools, Accessories and Parts
Form
a Small beginning Back in 1978, they are now a Leading manufacturers of air
tools for the Construction, industrial and marine markets. EDICON is today
recognized for Quality air tools. They have growing markets in 17 countries
worldwide. The Product line in Manufacturing at tow Modern Manufacturing
Facilities in Mumbai, India. They at EDICON strive Continuously to be a quality
Driven manufacturing of industrial Standard Tools.
Reliability,
efficiency, elegancy and compactness are standard features for all ROTODEL
rotary pumps.
3M India
Limited
For more than 100 years, people the world over have looked
to 3M for thousands of products and ideas that solve problems and make their
lives easier and better. With more than 2,000 products marketed in India,
40-plus core technologies and leadership in major markets, 3M continues to
develop ingenious solutions to meet the varying needs.
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.45.77 |
|
UK Pound |
1 |
Rs.80.67 |
|
Euro |
1 |
Rs.64.20 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
- |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
- |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
11 |
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 |
|