MIRA
INFORM REPORT
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Report Date : |
03.08.2011 |
IDENTIFICATION DETAILS
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Name : |
BERKELEY RETAILS LIMITED (w.e.f. 25.06.2010) |
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Formerly Known
as: |
BERKELEY RETAILS PRIVATE LIMITED (w.e.f. 18.06.2010) VAISHNO AUTOMOTIVE PRIVATE LIMITED |
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Registered
Office : |
Plot No.24, Industrial Area, Phase – 1, Chandigarh – 160002, Union
Territory |
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Country : |
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Financials (as on)
: |
31.03.2010 |
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Date of
Incorporation : |
21.08.2007 |
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Com. Reg. No.: |
030912 |
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Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
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CIN No.: [Company Identification
No.] |
U35990CH2007PLC030912 |
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Legal Form : |
A Closely held Public Limited Liability Company |
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Line of Business
: |
Manufacturer, Trader, Dealers of All types of Automobiles Parts. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (12) |
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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 : |
Recently Commenced Business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Though the company was incorporated in the year 2007, the company has started
its commercial business activities recently in July, 2010, Business is
active. Payment terms are not known. The company can be considered for business dealings at usual trade
term an conditions, initially. |
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 DENIED BY
|
Name : |
Mr. Ashok |
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Designation : |
Accounts Manager |
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Date : |
01.08.2011 |
LOCATIONS
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Registered Office/Factory : |
Plot No.24, Industrial Area, Phase – 1, Chandigarh – 160002, Union
Territory, India |
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Tel. No.: |
91-172-991422960
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E-Mail : |
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Corporate Office: |
Plot No. 5, Industrial Are 1, Chandigarh, India |
DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Ranjeev Dahuja |
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Designation : |
Director |
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Address : |
H No.76, Sector-7, Panchkula – 134109, Haryana, India |
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Date of Birth/Age : |
02.08.1965 |
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Date of Appointment : |
21.08.2007 |
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Name : |
Mr. Sanjay Dahuja |
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Designation : |
Director |
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Address : |
H No.76, Sector-7, Panchkula – 134109, Haryana, India |
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Date of Birth/Age : |
31.03.1968 |
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Date of Appointment : |
21.08.2007 |
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Name : |
Mr. Ashu Dahuja |
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Designation : |
Director |
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Address : |
H No.76, Sector-7, Panchkula – 134109, Haryana, India |
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Date of Birth/Age : |
13.05.1972 |
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Date of Appointment : |
21.08.2007 |
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Name : |
Mr. Anil Verma |
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Designation : |
Director |
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Address : |
H No.1383, Sector-33C, Chandigarh – 160034, Union Territory, India |
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Date of Birth/Age : |
05.01.1956 |
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Date of Appointment : |
01.09.2008 |
KEY EXECUTIVES
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Name : |
Mr. Ashok |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Ranjeev Dahuja |
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13300 |
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Ashu Dahuja |
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13300 |
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Roma Dahuja |
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2500 |
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Rakhi Dahuja |
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2500 |
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Sanjay Dahuja |
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13400 |
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Anu Dahuja |
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2500 |
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Chaman Lal Dahuja |
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2500 |
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Total |
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50000 |
AS ON 30.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Trader, Dealers of All types of Automobiles Parts. |
GENERAL INFORMATION
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No. of Employees : |
Not Divulged |
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Bankers : |
Tata Capital Limited, One Forbes, Dr. V B Gandhi Marg, Fort, Mumbai -
400001, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Rampaul and Associates Chartered Accountant |
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Address : |
H No.1495, Sector – 40B, Chandigarh - 160036, Union Territory, India |
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Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
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]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.100 |
0.100 |
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LOAN FUNDS |
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1] Secured Loans |
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15.627 |
9.695 |
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2] Unsecured Loans |
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7.282 |
15.382 |
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TOTAL BORROWING |
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22.909 |
25.077 |
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DEFERRED TAX LIABILITIES |
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0.00 |
0.000 |
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TOTAL |
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23.009 |
25.177 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
0.000 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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22.966 |
25.135 |
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DEFERREX TAX ASSETS |
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0.000 |
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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0.000 |
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Sundry Debtors |
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0.000
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0.000 |
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Cash & Bank Balances |
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0.028
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0.027 |
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Other Current Assets |
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0.000
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0.000 |
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Loans & Advances |
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0.028
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0.027 |
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Total
Current Assets |
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0.028
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0.027 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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0.000
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0.000 |
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0.000 |
Other Current Liabilities |
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0.000
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0.000 |
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Provisions |
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0.000
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0.000 |
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Total
Current Liabilities |
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0.000
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0.000 |
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Net Current Assets |
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0.028
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0.027 |
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MISCELLANEOUS EXPENSES |
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0.015 |
0.015 |
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TOTAL |
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23.009 |
25.177 |
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KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
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PAT / Total Income |
(%) |
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NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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NA |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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NA |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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229.09 |
250.77 |
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Current Ratio (Current Asset/Current Liability) |
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NA |
NA |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The registered office address of the company has
been shifted from SCO 42, Sector 26, Madhya Marg, Chandigarh – 160026,
Chandigarh, India to present w.e.f. 01.01.2011
FORM 8:
|
Corporate identity number of the company |
U35990CH2007PLC030912 |
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Name of the company |
BERKELEY RETAILS LIMITED |
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Address of the registered office or of the
principal place of business in |
SCO 42, Sector 26, Madhya Marg, Chandigarh – 160026, Chandigarh, India |
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This form is for |
Creation of charge |
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Type of charge |
Book Debts Others |
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Particular of charge holder |
Tata Capital Limited |
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Nature of instrument creating charge |
Deed Of Hypothecation Dated 30.08.2010. |
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Date of instrument Creating the charge |
30/08/2010 |
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Amount secured by the charge |
Rs.50.000 Millions |
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Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest Short Term Lending Rate (STLR) @ 13.50 %
p.a. Rate of Interest @ 3.75 % p.a below STLR. Terms of Repayment Principal amount to be repaid in 60
months. Extent and Operation of the charge The Charge extends to the due repayment of
the principal amount of Rupees 5 Crores including Interest, Additional
Interest, Charges, Costs, Expenses and all other monies payable under the
Channel Finance Agreement dated 30.08.2010 In case of default in payment of interest,
principal or monies payable under the Loan Agreement from the due date additional interest @ 6% p.a. will be
levied as penal interest. |
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Short particulars of the property charged |
First And Exculsive Charge Over Inventory
/ Stock 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 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. |
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|
1 |
Rs. |
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Euro |
1 |
Rs. |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
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PAID-UP CAPITAL |
1~10 |
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OPERATING SCALE |
1~10 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
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--PROFITABILIRY |
1~10 |
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--LIQUIDITY |
1~10 |
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--LEVERAGE |
1~10 |
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--RESERVES |
1~10 |
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--CREDIT LINES |
1~10 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
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--LITIGATION |
YES/NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
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--EXPORT ACTIVITIES |
YES/NO |
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--AFFILIATION |
YES/NO |
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--LISTED |
YES/NO |
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--OTHER MERIT FACTORS |
YES/NO |
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TOTAL |
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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 |
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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 |
|
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 |
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 |
|
- |
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.