MIRA INFORM REPORT

 

 

Report Date :

16.08.2011

 

IDENTIFICATION DETAILS

 

Name :

SHREE HARI YARNS PRIVATE LIMITED

 

 

Registered Office :

House No. 5975, Gat No A1-1-a3, Laxmi Process Road, Behind MSEB office, Ichalkaranji – 416115, Maharashtra

 

 

Country :

India

 

 

Date of Incorporation :

31.05.2010

 

 

Capital Investment / Paid-up Capital :

Rs 4.710 Millions

 

 

CIN No.:

[Company Identification No.]

U17120PN2010PTC136433

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader and Dealer of Yarn

 

 

No. of Employees :

06 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (30)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is a successor of Shree Hari Textile Mills, a proprietory concern started in the year 2002. Trade relation are reported as fair. Business is active. Payments are unknown.

 

The company can be considered for business dealings with some caution

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Sunil Parikh

Designation :

Account Manager

Date :

12.08.2011

 

Name :

Mr. Ravi Shankar

Designation :

Director

Date :

12.08.2011

Mobile No:

91-9860611111

 

 

LOCATIONS

 

Registered Office :

House No. 5975, Gat No A1-1-a3, Laxmi Process Road, Behind MSEB office, Ichalkaranji – 416115, Maharashtra, India

Tel. No.:

91-230-2438430

Mobile No.:

91-9860611111 (Mr Ravi Shankar)

Fax No.:

91-230-2438432

E-Mail :

amrutparakh@rediffmail.com

ravi@sryarn.com

Location :

Owned

 

 

DIRECTORS

 

Name :

Mr. Ravi Shankar Panchloria

Designation :

Director

Address :

H.No. 5975, Gat No A1 – a 3, Laxmi Process Road, Behind MSEB office, Ichalkaranji – 416115, Maharashtra, Indi

Date of Birth/Age :

01.07.1977

DIN No.:

03034718

 

 

Name :

Mr. Hari Shankar Panchloria

Designation :

Director

Address :

H.No. 5975, Gat No A1 – a 3, Laxmi Process Road, Behind MSEB office, Ichalkaranji – 416115, Maharashtra, India

Date of Birth/Age :

05.06.1955

DIN No.:

00241981

 

 

Name :

Mr. Ashish Sonthalia

Designation :

Director

Address :

Durga Nivas, 17, Sailo Kumar Mukharjee Road, Howrah – 711101, West Bengal, India

Date of Birth/Age :

30.06.1985

DIN No.:

00316020

 

 

Name :

Mr. Ankit Sonthalia

Designation :

Director

Address :

House No. 5975, Gat No A1 – a 3, Laxmi Process Road, Behind MSEB office, Ichalkaranji – 416115, Maharashtra, India

Date of Birth/Age :

25.02.1987

DIN No.:

03034729

 

 

KEY EXECUTIVES

 

Name :

Mr. Sunil Parikh

Designation :

Account Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2011

 

Names of Shareholders

 

No. of Shares

Hari Shankar Panchloria

 

250

Ravi Shankar Panchloria

 

250

Ashish Sonthalia

 

250

Ankit Sonthalia

 

250

Total

 

1000

 

List of Allottees

As on 09.02.2011

 Names of Shareholders

 

No. of Shares

Chandan harishankar Panchloria

 

100

Sarla Gupta

 

100

Sonali Ravishankar Panchloria

 

5000

Sumitradevi H Panchloria

 

5000

Ravi Shankar Panchloria

 

5000

Hari Shankar Panchloria HUF

 

15000

Saurav Suresh Sonthalia

 

5000

Sureshkumar Sonthalia

 

5000

Sureshkumar Sonthalia HUF

 

5000

Total

 

45200

 

 

List of Allottees

As on 13.10.2010

 Names of Shareholders

 

No. of Shares

Harishankar Panchloriya HUF

 

100

Ravi Shankar Panchloria HUF

 

100

Sonali Ravishankar Panchloria

 

100

Sumitradevi H Panchloria

 

100

Subashkumar Sonthalia

 

100

Subashkumar Sonthalia HUF

 

100

Sushila Subash  Sonthalia

 

100

Sureshkumar Sonthalia

 

100

Sureshkumar Sonthalia HUF

 

100

Total

 

900

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Dealer of Yarn

 

 

Agencies Held :

Abhishek Industries - Ludhiana

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

Customers :

Manufacturer

 

 

No. of Employees :

06 (Approximately)

 

 

Bankers :
  • State Bank of India, Ichalkaranji
  • IDBI Bank, Ichalkaranji

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Rander and Association

Chartered Accountant

 

 

Associates/Subsidiaries :
  • Shri Hari Yarn Agencies
  • Panna Textiles Mills
  • S R Distributor 

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1,000,00

Equity Shares

Rs.100/- each

Rs 10.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

471,00

Equity Shares

Rs.100/- each

Rs 4.710 Millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

 

31.03.2011

Sales Turnover (Approximately)

 

 

180.000

 

The above information has been parted by Mr. Ravi Shankar

 

 

LOCAL AGENCY FURTHER INFORMATION

 

TRADE REFERENCE:

 

  • Nagrika Exports Limited – Mumbai
  • Abhishek Industries – Ludhiana  

 

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]         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.45.37

UK Pound

1

Rs.73.53

Euro

1

Rs.64.37

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

30

 

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

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

-

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.