MIRA
INFORM REPORT
|
Report Date : |
24.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
SANTOSHI BARRIER FILM INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. D-51, Butibori Industrial Area, Village Gangapur, Taluka
Hingna, Nagpur-441122, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
07.08.2009 |
|
|
|
|
Com. Reg. No.: |
11-214185 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25203MH2009PTC214185 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPS10647A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AANCS3213P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Plastic Films. |
|
|
|
|
No. of Employees
: |
20 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Yet to commenced business |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Though the company was incorporated in the year 2009, the company is to
yet to commenced its commercial operations. Payments are unknown. The company can be considered for business dealings on a secured trade
terms and conditions. Profit and loss of the company is not available. |
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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Madan Keshwrao Atkare |
|
Designation : |
Director |
|
Contact No.: |
91-9765596000 |
|
Date : |
18.08.2011 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. D-51, Butibori Industrial Area, Village Gangapur, Taluka Hingna,
Nagpur-441122, |
|
Tel. No.: |
91-712-3224255 |
|
Mobile No.: |
91-9765596000 (Mr. Madan Keshwrao Atkare) |
|
E-Mail : |
|
|
Area : |
Rented |
|
|
|
|
Corporate Office : |
403, |
|
Tel. No.: |
91-22-29671024 |
DIRECTORS
As on 13.12.2010
|
Name : |
Mr. Dinesh Keshwrao Atkare |
|
Designation : |
Director |
|
Address : |
C/O. Santoshi Polymers, Hingraj Industrial Estate, Dabhel, Nani
Daman-396210, Daman and |
|
Date of Birth/Age : |
10.07.1970 |
|
Date of Appointment : |
07.08.2009 |
|
Din No.: |
02106970 |
|
|
|
|
Name : |
Mr. Madan Keshwrao Atkare |
|
Designation : |
Director |
|
Address : |
Muranba, Post Kinkhed, Taluka Murtijapur, District Akola-444107, |
|
Date of Birth/Age : |
06.07.1968 |
|
Date of Appointment : |
07.08.2009 |
|
Din No.: |
02125106 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 13.12.2010
|
Names of Shareholders |
|
No. of Shares |
|
Dinesh Keshwrao Atkare |
|
5500 |
|
Madan Keshwrao Atkare |
|
4500 |
|
|
|
|
|
Total |
|
10000 |
List of Allottee:
As on 04.04.2011
|
Particular |
|
No. of Shares |
|
Dinesh Keshwrao Atkare |
|
792263 |
|
Madan Keshwrao Atkare |
|
342832 |
|
|
|
|
|
Total |
|
1135095 |
As on 13.12.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Plastic Films. |
|
|
|
|
Products : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
|
|
|
|
No. of Employees : |
20 [Approximately] |
|
|
|
|
Bankers : |
State Bank of |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dinesh Kumar Mundra Chartered Accountant |
|
Address : |
169, |
|
Mobile No.: |
91-8141529092 |
|
E-Mail : |
|
|
|
|
|
Associates/Subsidiaries : |
Laxmi Engineering Private Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
As on 13.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1145095 |
Equity Shares |
Rs.10/- each |
Rs.11.450
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
2.478 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2.578 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2.578 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
|
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
0.000 |
|
|
Other Current Assets |
|
|
2.530 |
|
|
Loans & Advances |
|
|
0.000 |
|
Total
Current Assets |
|
|
2.530 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.010 |
|
Total
Current Liabilities |
|
|
0.010 |
|
|
Net Current Assets |
|
|
2.520 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.058 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2.578 |
|
The above information has been parted by Mr. Madan Keshwrao Atkare.
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2010 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
253.00 |
LOCAL AGENCY FURTHER INFORMATION
NOTE: The registered
office of the company has been shifted from to Plot No. D-51, Butibori
Industrial Area, Village Gangapur, Taluka Hingna, Nagpur-441104,
OPERATIONS:
The company after its incorporation under the companies act, 1956 on
31.03.2010. The company has yet not carried out any business since its
incorporation. The directors hope to start the business in the current
financial year.
FUTURE OUTLOOK:
The company has been purchase industrial land
at Butibori Indu area at district
The company change the registered office from
Vapi (Gujarat) to
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U25203MH2009PTC214185 |
|
Name of the
company |
SANTOSHI BARRIER
FILM INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. D-51, Butibori Industrial Area, Village Gangapur, Taluka
Hingna, Nagpur-441122, |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Floating Charge Immovable
Property |
|
Particular of charge
holder |
State Bank of |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
1. Agreement of Loan Cum Hypothecation 2. Memorandum For
Recording Extension of Mortgage By Deposit OGF Title Deeds Covering Enhanced
Limit and / or Creation of Equitable Mortgage on Additional Properties For
Existing Limit and Enhanced Limits And Additional Facilites. |
|
Date of
instrument Creating the charge |
31.03.2011 |
|
Amount secured by
the charge |
Rs.101.400
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC: 4.5% above base
rate. present effective rate 12.75% TL: 4.5% above
base rate. present effective rate 12.75% Terms of
Repayment Cash Credit :
Repayable On Demand Term Loan: 60
Monthly Installments of Rs. 1.167 millions Each. Margin Raw Material :
25% Semi-Finished
Goods : 30% Finished Goods:
30% Receivables : 50% Letter of Credit
: 25% Extent and
Operation of the charge The charge
operate as security on the movables and immovable properties of the company |
|
Short particulars
of the property charged |
I) Hypothecation
of Entire Present and Future Current Assets of The Company. Hypothecation of
Plant and Machinery Purchased Out-of Bank Finance and Building To Be
Constructed Out of Bank Finance Ii) Equitable |
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.45.69 |
|
|
1 |
Rs.75.29 |
|
Euro |
1 |
Rs.65.77 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
- |
|
--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 |
|
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 |
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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.