MIRA
INFORM REPORT
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Report Date : |
24.08.2011 |
IDENTIFICATION DETAILS
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Name : |
COLDSTAR LOGISTICS PRIVATE LIMITED |
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Registered
Office : |
11, Silver Arch, |
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Country : |
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Date of
Incorporation : |
06.11.2009 |
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Com. Reg. No.: |
196921 |
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Capital
Investment/ Paid-up Capital: |
Rs. 20.000 Millions |
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CIN No.: [Company Identification
No.] |
U74990MH2009PTC196921 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC17134F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing Logistic s, Warehousing, Transportation etc. services. |
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No. of
Employees: |
Approximately 24 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (15) |
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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 : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and yet to establish itself gradually. The company
has started its commercial business activities recently in January, 2011.
Business is active. Payment terms 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.
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. Vyal |
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Designation : |
Office Executive |
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Date : |
23.08.2011 |
LOCATIONS
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Registered Office : |
11, Silver Arch, |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Corporate Office : |
501-E, Poonam Chambers, A Wing, |
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Tel. No.: |
91-22-40895151 |
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Fax No.: |
91-22-40895152 |
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Branches : |
Located at:
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DIRECTORS
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Name : |
Mrs. Shagun Kapur |
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Designation : |
Director |
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Address : |
11, Silver Arch, |
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Date of Birth/Age : |
23.03.1975 |
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DIN No.: |
01714304 |
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Name : |
Mr. Anand Aaromoni |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. Shaukat Ali Farooqi |
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Designation : |
Vice President- Operations |
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Name : |
Mr. Sameer Varma |
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Designation : |
Business Development |
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Name : |
Mr. Vyal |
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Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Tuscan Ventures Private Limited, Mumbai, |
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9900 |
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Shagun Kapur |
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100 |
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Total |
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10000 |
As on 16.12.2010
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List of Allottees |
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No. of Shares Allotted |
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Tuscan Ventures Private Limited, Mumbai, |
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1990000 |
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Total |
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1990000 |
BUSINESS DETAILS
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Line of Business : |
Providing Logistic s, Warehousing, Transportation etc. services. |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
Approximately 24 |
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Bankers : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
D M Damble and Company Chartered Accountant |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
The Subject company has started their commercial activity from 1st
January 2011
New Company
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
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Corporate
identity number of the company |
U74990MH2009PTC196921 |
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Name of the
company |
COLDSTAR LOGISTICS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
11, Silver Arch, |
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This form is for |
Creation of
Charge |
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Type of charge |
Movable Property (not being pledge) |
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Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel
West, Mumbai-400013, Maharashtra, India |
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Nature of
instrument creating charge |
Agreement for
Loan and Guarantee (Contracts No.
3358281/ 283/284/ 285/ 286/ 287/ 288) (Rs. 1.479
Millions X 7 Conts) = Rs. 10.350 Millions |
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Date of
instrument Creating the charge |
25.02.2011 |
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Amount secured by
the charge |
Rs. 10.350
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 11.01%
p.a. Terms of
Repayment The Loan is
repayable in 46 EMIs of Rs. 0.279 Million (Rs. 0.040 Million X 7 Conts)
starting form 15th April, 2011 ending 15th January,
2015. Margin As may be stipulated
by bank from time to time Extent and
Operation of the charge The company
hypothecates to and charges in favour of the Bank by way of first and
exclusive charge of the Vehicle / equipment as security for the repayment/
payment by the company of the loan granted or to be granted to the company by
the bank together with all fess, interest, costs and expenses incurred/ to be
incurred by the Bank and all other monies payable or to become payable by the
company to the bank. Others The Bank shall be
absolutely entitled and have full power and authority to sell, assign or
transfer in any manner, in whole or in part, and in such manner and on such
terms as the Bank may decide, including reserving a right to the Bank to
retain its power to proceed against the company on behalf of the purchaser,
assignee or transferee, any or all outstanding dues of the company, to any
third party of the Bank’s choice without reference to or without written
intimation to the company. |
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Short particulars
of the property charged |
Hypothecation 7
Nos. Vehicles namely: CLA 25, 180 (Year of Manufacture: 2011) |
AS PER WEBSITE
Company Overview:
ColdStar Logistics delivers customized solutions for cold storage and
refrigerated transportation across
ColdStar Logistics is promoted by Tuscan Ventures, one of the few
logistics–focused investment firms in
ColdStar’s clients consist of some of the biggest global MNCs and
indigenous businesses. The aim is to partner with the clients to deliver
refrigerated storage and trucking solutions that deliver tangible, sustained
benefits and help drive bottom line efficiencies.
The customized solutions for fresh and frozen commodities aim to assist
in conserving food through reduced wastage during storage and transportation.
The "Freshness Delivered" promise and strict quality controls are set
to make sure all commodities are delivered fresh, on time and meet the
expectations.
Executive Team Management:
Shagun Gogia – Director
Prior to Tuscan, Shagun was a Vice-President at ICICI Ventures,
Shagun gained several years of experience in private equity placements
in
Shagun is a Cum Laude Double Major in Economics and Biology,
Shaukat Ali Farooqi - Vice President – Operations
Mr. Farooqi spearheads operations and drives the development,
implementation and expansion of ColdStar’s logistics infrastructure.
With a keen process orientation, Mr. Farooqi’s focus at ColdStar, is to
set up end-to-end logistics solutions for temperature-controlled food products
through a nationwide cold-chain.
With 22 years of cross-functional experience in logistics, warehousing,
distribution and sales and marketing, Mr. Farooqi brings expertise and
knowledge of industry best practices and unmatched local expertise honed by
years of working in the Indian logistics environment.
Prior to this, Mr. Farooqi worked with Allanasons Limited (2006-2010) as
Head of Inland Logistics. In his previous position, he worked with Reliance
Industries Limited as a member of the core supply chain team for a few months.
He has had a long tenure with Snowman Frozen Foods Limited in various positions
during 1998-2005, responsible for cold warehouse operations at
Mr. Farooqi is a post graduate in Commerce from
Varma - Business Development
Sameer has 6 years of experience in the shipping, logistics and
transportation infrastructure space spread across
Prior to his role as General Manager of India Container Services, he
worked at the Indian Head Office of Maersk Line - the world's largest container
shipping company - in Mumbai, responsible for the trade between
During 2005 - 2007, he was the Asset flow and Procurement manager for
the Maersk Line's activities in the
Sameer started his career as a part of A. P. Moller - Maersk's elite
Management Training Program, prior to which he had worked with Alcan Labs and Grameen
Bank. Sameer holds a Bachelor's degree in Physics from St. Xavier's College in
Mumbai.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.69 |
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|
1 |
Rs.75.29 |
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Euro |
1 |
Rs. 65.77 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
-- |
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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 |
NO |
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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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15 |
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 |
|
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 |
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<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.