1. Summary Information
|
|
|
Country |
|
|
Company Name |
HI TECH LEATHER GARMENTS BANGALORE PRIVATE LIMITED |
Principal Name 1 |
Mr. Lngappaiah Nagendra |
|
Status |
Moderate |
Principal Name 2 |
Mrs. Janhavi Nagendra |
|
|
|
Registration # |
050072 |
|
Street Address |
No. 18, Srinavas Industrial Estate, Kanakapura Road, Konakakunte Post,
Bangalore – 560062, Karnataka |
||
|
Established Date |
08.06.2009 |
SIC Code |
-- |
|
Telephone# |
91-80-26860268 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-80-26860289 |
Business Style 2 |
Exporter |
|
Homepage |
-- |
Product Name 1 |
Leather Garments |
|
# of employees |
500 Approximately |
Product Name 2 |
-- |
|
Paid up capital |
Rs.200000/- |
Product Name 3 |
-- |
|
Shareholders |
-- |
Banking |
State Bank of
Travancore, M M Hills Vartha Bhavan, Tippu Sultan Palace Road, Chamrajpet,
Bangalore – 560018, Karnataka, India |
|
Public Limited Corp. |
NO |
Business Period |
6 months |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associate
: |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
|
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
-- |
Current Liabilities |
-- |
|
Inventories |
-- |
Long-term Liabilities |
-- |
|
Fixed Assets |
-- |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
-- |
|
Invest& other Assets |
-- |
Retained Earnings |
-- |
|
|
|
Net Worth |
-- |
|
Total Assets |
-- |
Total Liab. & Equity |
-- |
|
Total Assets (Previous Year) |
-- |
|
|
|
P/L Statement as of |
|
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
-- |
|
Sales(Previous yr) |
--- |
Net Profit(Prev.yr) |
-- |
MIRA
INFORM REPORT
|
Report Date : |
18.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
HI TECH LEATHER GARMENTS BANGALORE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 18, Srinavas Industrial Estate, Kanakapura Road, Konakakunte Post,
Bangalore – 560062, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Date of
Incorporation : |
08.06.2009 |
|
|
|
|
Com. Reg. No.: |
050072 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U19110KA2009PTC050072 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Leather Garments |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
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 the Hitech Leather Garments a partnership
concern started in the year 2008. It is a company having moderate track. Trade relations are reported as
fair. The Director Mr. Gopinath provided to us a few general information but
denied to disclose any financials details. Payment terms are not known. 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
|
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. Gopinath |
|
Designation : |
Director |
|
Contact No.: |
91-9845043627 |
|
Date : |
18.01.2011 |
LOCATIONS
|
Registered / Factory Office : |
No. 18, Srinavas Industrial Estate, Kanakapura Road, Konakakunte Post,
Bangalore – 560062, Karnataka, India |
|
Tel. No.: |
91-80-26860268 |
|
Mobile No.: |
91-9845043627 (Mr. Gopinath) |
|
Fax No.: |
91-80-26860289 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Lngappaiah Nagendra |
|
Designation : |
Director |
|
Address : |
No.113, 29th Cross, 12th Main Banashankari 2nd
Stage, |
|
Date of Birth/Age : |
16.12.1957 |
|
|
|
|
Name : |
Mrs. Janhavi Nagendra |
|
Designation : |
Director |
|
Address : |
No.113, 29th Cross, 12th Main Banashankari 2nd
Stage, |
|
Date of Birth/Age : |
10.06.1960 |
|
|
|
|
Name : |
Mr. Gopinath Nagendra |
|
Designation : |
Director |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Leather Garments |
|
|
|
|
Exports : |
|
|
Products : |
Leather Garments |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit and L/C |
|
|
|
|
Purchasing : |
Cash, Credit and L/C |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
|
|
|
|
No. of Employees : |
500 Approximately |
|
|
|
|
Bankers : |
|
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deshpande and Company Chartered Accountant |
CAPITAL STRUCTURE
Authorised Capital : Rs.10.000 millions
Issued, Subscribed & Paid-up Capital : Rs.0.200 million
FINANCIAL DATA
[all figures are
in Rupees Millions]
NOT DIVUGED
LOCAL AGENCY FURTHER INFORMATION
FORM 8
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10171219 |
|
Corporate
identity number of the company |
U19110KA2009PTC050072 |
|
Name of the
company |
Hi Tech Leather
Garments |
|
Address of the
registered office or of the principal place of business in |
No. 18, Srinavas Industrial Estate, Kanakapura Road, Konakakunte Post,
Bangalore – 560062, Karnataka, India |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
State Bank of Travancore, M M Hills Vartha Bhavan, Tippu Sultan Palace
Road, Chamrajpet, Bangalore – 560018, Karnataka, India |
|
Nature of
description of the instrument creating or modifying the charge |
Deed Of Hypothecation
For Term Loan; Supplemetal Agreement Of Loan For Increase In The Overall
Working Capital Limit And Supplemetal Agreement Of Hypothecation Of Goods And
Assets For Increase In The Overall Working Capital Limit (All Pertain To The
Same Charge) |
|
Date of
instrument Creating the charge |
27.03.2010 |
|
Amount secured by
the charge |
Rs.110.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 1) Cc - At Sbtplr,
Eff Rate 12.25% P.A. At Monthly Rests. 2) Tl - At 0.50%
Above Sbtplr, Eff Rate 12.75% P.A. At Monthly Rests. 3) Epc - At 2.50%
Below Sbtplr, Eff Rate 9.75% P.A. At Monthly Rests. Terms of
Repayment Cash Credit / Epc
- Repayable On Demand. Term Loan : In 60
Monthly Instalments, First 59 Monthly Instalments Of Rs 84,000/- Each, Last Monthly
Instalment Of Rs 44,000 With Effect From 27.09.2010. Margin RM/SIP/FG : 25% RECEIVABLES : 50% LC : 10% TERM LOAN : 50% Extent and
Operation of the charge Exclusive First
Charge On The Assets Of The Company And To The Full Extent. Others Cash Credit Rs.
5.000 Millions, Epc Rs 25.000 Millions, Fdbp / Fbep (Non Lc) Rs 15.000
Millions, Fdbp / Fbep Rs
30.000 Millions, Term Loan Rs 5.000 Millions, Foreign/Inland Lc Rs 30.000
Millions, Total Rs 110.000 Millions. |
|
Short particulars
of the property charged |
|
|
Particulars of
the present modification |
The amount
secured by the charge stands increased to Rs. 110.000 millions. The
securities described and detailed in col no 15 herein above continue for the enhanced
limit. All other terms and conditions remain unchanged. |
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.59 |
|
|
1 |
Rs.72.31 |
|
Euro |
1 |
Rs.60.73 |
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.