MIRA
INFORM REPORT
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Report Date : |
27.04.2011 |
IDENTIFICATION DETAILS
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Name : |
FAB TRADE PRIVATE LIMITED |
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Registered
Office : |
801-A, Harbour View, Sector 19A, Nerul, Navi Mumbai – 400 706, |
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Country : |
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Date of
Incorporation : |
09.06.2007 |
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Com. Reg. No.: |
171492 |
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CIN No.: [Company Identification
No.] |
U52300MH2007PTC171492 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF05994C |
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PAN No.: [Permanent Account No.] |
AABCF1786A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Chemicals. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (19) |
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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 : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a company having moderate track. The management has not
filed the financials of the company with the government departments since its
inception. However trade relations are reported as fair. Business is active.
Payment terms are not known. The company can be considered for business dealings with some caution.
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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 [General Details]
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Name : |
Mrs. Felie Bavisi |
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Designation : |
Director |
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Date : |
25.04.2011 |
LOCATIONS
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Registered Office : |
801-A, Harbour View, Sector 19A, Nerul, Navi Mumbai – 400 706, |
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Tel. No.: |
91-22-27653776 |
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Fax No.: |
91-22-27653777 |
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E-Mail : |
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Warehouse : |
Located at Bhiwandi and Ahmedabad |
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Head Office : |
610, |
DIRECTORS
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Name : |
Mr. Amit Bavisi |
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Designation : |
Director |
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Address : |
801-A, Harbour View, Sector 19A, Nerul, Navi Mumbai – 400 706, |
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Date of Birth/Age : |
06.10.1960 |
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Qualification : |
Chemicals Engineer |
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DIN No. : |
01388909 |
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Name : |
Mrs. Felie Bavisi |
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Designation : |
Director |
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Address : |
801-A, Harbour View, Sector 19A, Nerul, Navi Mumbai – 400 706, |
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Date of Birth/Age : |
28.09.1957 |
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Qualification : |
B Com |
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DIN No. : |
01388965 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Amit Bavisi |
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5500 |
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Felie Bavisi |
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4500 |
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Total |
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10000 |
BUSINESS DETAILS
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Line of Business : |
Trader and Importer of Chemicals. |
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Imports : |
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Products : |
Chemicals |
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Countries : |
·
China ·
Europe |
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Terms : |
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Selling : |
Depend |
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Purchasing : |
Depend |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
9 |
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Bankers : |
State Bank of |
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Facilities : |
CC : Rs. 70.000 Millions LC Rs. 15.000 Millions |
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Banking
Relations : |
-- |
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Auditors : |
Rajput and Company Chartered Accountants |
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Associates/Subsidiaries : |
P.R. Drugs Private Limited, Line of Business: Manufacturing of Drug Intermediates. |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 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
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Particulars |
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31.03.2011 |
31.03.2010 |
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Sales Turnover (Approximately) |
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27.000 |
26.000 |
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LOCAL AGENCY FURTHER INFORMATION
Trade Reference
·
Sintex Limited
·
Leo Chemicals
Note:
The company incorporated in June 2007 but it has started its business
from 2009.
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Corporate
identity number of the company |
U52300MH2007PTC171492 |
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Name of the
company |
FAB TRADE PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in |
801-A, Harbour View, Sector 19A, Nerul, Navi Mumbai – 400 706, E-Mail: fabtrade@sify.com |
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This form is for |
Creation of charge |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
State Bank of E-Mail: lamalazx_saraf@hotmail.com |
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Nature of
description of the instrument creating or modifying the charge |
Agreement of
Loan-cum-Hypothecation. SME – 2 |
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Date of
instrument Creating the charge |
15.10.2009 |
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Amount secured by
the charge |
Rs.50.000
millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Demand Cash Credit
– Rs.40.000 millions 2% above SBAR minimum 13.75% p.a. payable monthly Letter of Credit
– Rs.10.000 millions Terms of
Repayment: As per the
sanction terms Margin: As per the
sanction terms Extent and
Operation of the charge: As per the sanction
terms |
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Short particulars
of the property charged |
Stocks of
industrial chemicals stored in the godowns of the company or elsewhere, trade
receivables and entire current assets of the company. |
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 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.44.59 |
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1 |
Rs.73.43 |
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Euro |
1 |
Rs.64.81 |
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 |
2 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
1 |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
2 |
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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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19 |
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.