MIRA INFORM REPORT
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Report Date : |
08.04.2011 |
IDENTIFICATION DETAILS
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Name : |
FUTURE MINING TOOLS PRIVATE LIMITED |
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Registered
Office : |
C – 28/2, A/P Supa MIDC, Tal Parner Supa, Mumbai – 414301, |
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Country : |
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Date of
Incorporation : |
12.03.2010 |
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Com. Reg. No.: |
11-135763 |
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CIN No.: [Company Identification
No.] |
U29240PN2010PTC135763 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business
: |
Manufacturers, Trader and Exporters of Hydraulic Breakers and Crawlers
Drill. |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
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 relatively new company and yet to establish itself
gradually. Trade relations are fair. Business is active. Payments are
reported to be slow. The company can be considered for business dealings on a secured trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Sanjay Mutha |
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Designation : |
Director |
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Contact No.: |
91-9371621477 |
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Date : |
06.04.2011 |
LOCATIONS
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Registered Office : |
C – 28/2, A/P Supa MIDC, Tal Parner Supa, Mumbai – 414301, |
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Tel. No.: |
91-20-30482858/30482860 |
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Mobile No.: |
91-9371621477 (Mr. Sanjay Mutha) |
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Fax No.: |
91-20-30482860 |
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Location : |
Owned |
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Corporate Office : |
H-6, Riturang Society, |
DIRECTORS
AS ON 12.03.2010
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Name : |
Mr. Sanjay K. Mutha |
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Designation : |
Director |
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Address : |
C/105 Kumar Puram, Mukund Nagar, Pune – 411037, |
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Date of Birth/Age : |
26.04.1972 |
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Name : |
Mr. Sanjyoti Sanjay Mutha |
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Designation : |
Director |
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Address : |
C/105 Kumar Puram, Mukund Nagar, Pune – 411037, |
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Date of Birth/Age : |
22.04.1975 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 12.03.2010
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Names of Shareholders |
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No. of Shares |
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Mr. Sanjyoti Sanjay Mutha |
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500 |
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Mr. Sanjay K. Mutha |
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500 |
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Total |
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1000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Trader and Exporters of Hydraulic Breakers and Crawlers
Drill. |
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Products : |
Hydraulic
Breakers
Crawler Drills
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Terms : |
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Selling : |
Cash, Credit (30 days) |
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Purchasing : |
Cash, Credit (30 days) |
GENERAL INFORMATION
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Customers : |
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Bankers : |
Bank of India, Koregaon Park Branch, Plot No. 285, Tarabaug Building,
Koregaon Road, Pune – 411001, Maharashtra, India |
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Facilities : |
--- |
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Banking
Relations : |
--- |
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Auditors : |
Not Available |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
AS ON 12.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
New Company
LOCAL AGENCY FURTHER INFORMATION
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Corporate
identity number of the company |
U29240PN2010PTC135763 |
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Name of the
company |
FUTURE MINING
TOOLS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
C-28/2, A/P SUPA
MIDC TAL PARNER SUPA 414301 |
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This form is for |
Creation of
charge |
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Type of charge |
Book Debts Movable Property Floating Charge |
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Particular of charge
holder |
Bank of |
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Nature of instrument
creating charge |
Hypothecation Cum
Loan Agreement (Plant and Machinery, Stocks and Book Debts) |
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Date of
instrument Creating the charge |
21.09.2010 |
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Amount secured by
the charge |
9.500 Millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest: Rate of Interest : 2.75% Over Bank Rate,
minimum 10.75% p.a. or the rate as prescribed by the Bank from time to time. Terms of Repayment: As per the Agreement with the Bank Margin: Raw Material, Finished Goods - 25%, Stores - 25%, Goods in Process -
25%, Book-Debts outstanding of 2 or 3 months - 25%, Book-Debts outstanding
for more than 3 months to less than 6 months - 25% Extent and Operation of the charge: Type of Credit Facility: Cash Credit. First Charge. The
Charge on hypothecated assets continuous till full repayment of loan. Others: The other Terms & Conditions are as per Agreement. |
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Short particulars
of the property charged |
1) Hypothecation
of Welding machines, Cutting machines, Gas welding, cutting, drill machines. 2) Also
hypothecation of Driller, Steel,Iron, Gear Box, Compressor, Wheel, All tangible movable assets of Co.
including in particular, all stock of raw material as above and finished goods, 3) stock in
process,movable machinery, stores, spares, chemicals, furniture
etc.wheresoever situate and/or in transit. 4) Movables of
the Company - All the present and future book-debts, outstandings, money
receivables, claims, bills which are now due and owing to the Borrower in the
course of his business by any person, 5) firm, company
or body corporate or by the Central Government or any Government Department
or office or any municipal or local or public or semi-governmental body or
authority or any body corporate... 6) or undertaking
or project whatsoever. |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.44.22 |
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1 |
Rs.71.97 |
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Euro |
1 |
Rs.63.23 |
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 |
3 |
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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 |
2 |
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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 |
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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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 |
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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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.