MIRA
INFORM REPORT
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Report Date : |
12.07.2011 |
IDENTIFICATION DETAILS
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Name : |
HARRISON COOLING TOWERS PRIVATE LIMITED |
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Registered
Office : |
Plot No. 43, Street No. 7, Saidham Road, Malwani, Malad (West), Mumbai
– 400 095, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2000 |
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Date of
Incorporation : |
21.05.1993 |
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Com. Reg. No.: |
11-72103 |
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Capital
Investment / Paid-up Capital : |
Rs.0.002 Million |
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CIN No.: [Company Identification
No.] |
U74999MH1993PTC072103 |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer of |
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No. of Employees
: |
13 (Approximately) (In Office 8 and In Factory 5) |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Closed Operation |
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Payment Behaviour : |
Unknown |
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Litigation : |
-- |
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Comments : |
As confirmed by the director Mr. Simon Harris Plavartala that the company closed operations and started
a Proprietory Concern in the name of The company can be considered for business
dealings on a secured Trade terms and conditions. Note: The details of |
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. Simon Plavartala |
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Designation : |
Proprietor |
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Contact No.: |
91-986966891 |
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Date : |
06.07.2011 |
LOCATIONS
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Registered Office : |
Plot No. 43, Street No. 7, Saidham Road, Malwani, Malad (West), Mumbai – 400 095, Maharashtra, India |
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Tel. No.: |
91-22-28812795 / 28819818 / 28885256 / 64405777 / 64406888 |
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Fax No.: |
91-22-28810339 |
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E-Mail : |
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Website : |
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Area : |
2000 Sq. ft. |
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Location : |
Owned |
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Factory : |
Gala No. 14, Buddh Sagar Industrial Estate, Chinch Pada, Vasai Vaive
Road, Vasai (East), Thane, Maharashtra, India |
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Area : |
1600 Sq. ft. |
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Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Simon Harris Plavartala |
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Designation : |
Managing Director |
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Address : |
4/5, Shivshakti C.H.S. Limited, Kurar, Malad (E), Mumbai – 400 047, |
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Date of Birth/Age : |
20.07.1956 |
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Qualification : |
Mechanical Engineer |
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Date of Appointment : |
21.05.1993 |
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Name : |
Mrs. Sincy Simon Plavartala |
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Designation : |
Director |
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Address : |
4/5, Shivshakti C.H.S. Limited, Kurar, Malad (E), Mumbai – 400 047, |
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Date of Birth/Age : |
46 Years |
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Qualification : |
M.B.A. Marketing |
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Date of Appointment : |
21.05.1993 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 19.08.2000)
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Names of Shareholders |
No. of Shares |
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Simon Harris Plavartala |
100 |
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Sincy Simon Plavartala |
100 |
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Total |
200 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Timber Cooling Tower, Timber water Cooling
Tower and Timber induced draught Cooling Tower. Also manufactures wooden |
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Products : |
·
FRP
Round Cooling Towers ·
FRP
Square Cooling Towers ·
FRP
Rectangular Cooling Towers ·
FRP
Timber Induced Draft Cooling Towers.
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Exports : |
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Products : |
· Timber water Cooling ·
Timber Cooling Tower |
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Countries : |
·
African Countries ·
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Credit (30 days / 60 days) |
GENERAL INFORMATION
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Suppliers : |
· Ahura Engineers · Comfort
Engineering Services · E-mark · Gulf Advance
Lighting · · Praj Industries
Limited · Tata SSL Limited · |
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Customers : |
End Users and Traders ·
Albright and Wilson Chemicals India Limited ·
Asian Chemicals Works ( ·
Allied Instruments Private Limited ·
Alok Industries Limited ·
Asian Oil Company ·
Bharat Fertilisers Industries Limited ·
Camlin Limited ·
Coromandel Cements Limited ·
Cresent Alloyes Private Limited ·
E.I.D. Parry Limited ·
Five Star Galvanisors ·
Greaves Limited ·
·
J.M.Enterpriprises ·
Kamani Oil Industries Limited ·
Leesa Flora Products Private Limited ·
National Plastics Inds. Limited ·
Praj Industries Limited ·
Puma Stationery Private Limited ·
Veelakhs International Limited |
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No. of Employees : |
13 (Approximately) (In Office 8 and In Factory 5) |
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Bankers : |
·
Mogaveera Co-operative Bank Limited, Andheri (East), Mumbai, Maharashtra, India · State Bank of Hyderabad, S V Road, Malad (West), Mumbai, Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M. G. Gurav and Company Chartered Accountants |
CAPITAL STRUCTURE
AS ON 31.03.2000
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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200 |
Equity Shares |
Rs.10/- each |
Rs.0.002 million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
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SOURCES OF FUNDS |
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31.03.2000 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.002 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.002 |
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LOAN FUNDS |
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1] Secured Loans |
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0.191 |
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2] Unsecured Loans |
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0.091 |
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TOTAL BORROWING |
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0.282 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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0.284 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.395 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.111 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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Sundry Debtors |
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Cash & Bank Balances |
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Other Current Assets |
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Loans & Advances |
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(2.373) |
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Total
Current Assets |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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Provisions |
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Total
Current Liabilities |
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Net Current Assets |
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(2.373) |
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MISCELLANEOUS EXPENSES |
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0.002 |
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Profit and Loss |
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1.149 |
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TOTAL |
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0.284 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2000 |
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Sales Turnover |
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4.460 |
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Other Income |
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0.000 |
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Total Income |
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4.460 |
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Profit/(Loss) Before Tax |
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(0.348) |
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Provision for Taxation |
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0.000 |
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Profit/(Loss) After Tax |
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(0.348) |
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Total Expenditure |
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4.808 |
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Earnings Per Share (Rs.) |
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(1740.00) |
KEY RATIOS
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PARTICULARS |
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31.03.2000 |
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PAT / Total Income |
(%) |
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(7.80) |
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Net Profit Margin (PBT/Sales) |
(%) |
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(7.80) |
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Return on Investment (ROI) (PBT/Networth) |
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(174.00) |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Harrison Cooling Tower Private Limited is now a proprietory concern as
Harrison Cooling Tower in the year 2002 and it is no more a private limited
company.
TRADE REFERENCES
·
Asian Chemical Works
·
Asian Oil Company
FIXED ASSETS
·
Furniture and Fixture
·
Machinery
·
Motor Car
·
Factory Wall
·
Fax Machine
·
Computer
· Office Equipment
FORM NO. 8
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Name of the
company |
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Presented By |
Mr. Simon Plavartala |
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1) Date and description of instrument creating the change |
Loan Agreement
and Pronote dated 02.11.1995 |
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2) Amount secured by the charge/amount owing on the securities of charge |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Plot No. B/2, Audumber Co-Operative housing Society Limited, Liberty Garden,
Regd. No. 3, Malad (West), Mumbai – 400 064, |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Lien on the above |
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5) Name and Address and description of the person entitled to the charge. |
Mogaveera Co-operative Bank Limited Andheri (East), Mumbai |
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DETAILS OF THE HARRISON
COOLING TOWERS
|
Name : |
HARRISON COOLING TOWERS |
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Registered
Office : |
B/2, |
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Mobile No.: |
91-9869668691 (Mr. Simon Plavartala) |
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Email : |
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Website : |
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Area: |
1500 sq. ft |
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Location: |
Owned |
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Factory: |
Gala No. 14, Budh Sagar Industrial Estate, Chinch Pada, Vasai Road,
Vasai (East), Thane, Maharashtra, India |
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Area: |
1600 sq. ft |
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Location: |
Owned |
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Corporate
Office: |
Plot No. 43, Street No. 7, Lagoon Road, Malwani,
Malad (West), Mumbai 400095, Maharashtra, India |
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Tel. No.: |
91-22-28885256 |
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Fax No.: |
91-22-28810339 |
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Area: |
3000sq. ft |
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Location: |
Owned |
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Date of
Incorporation: |
2002 |
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Legal Form : |
Proprietory Concern |
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Proprietor: |
Mr. Simon H Plavartala Age: 54 Years Qualification: Post Graduate |
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Line of Business
: |
Manufacturer of Timber Induced Draught
Cooling Tower, Timber Water Cooling Tower, Industrial Cooling Tower etc. |
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Terms : |
Selling : Cash and Credit Purchasing : Cash and Credit |
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Type of
Customers: |
Retailers and End Users |
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No. of
Employees: |
20 (Approximately) |
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Bankers : |
State Bank of Hyderabad Address: S V Road, Malad (West), Mumbai, Maharashtra,
India |
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Auditor: |
M G Gurav and Company Chartered Accountant |
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Associates/
Subsidiary : |
· Harrison International B/2, |
CAPITAL STRUCTURE:
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
Not Available |
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Total : |
Not Available |
FINANCIAL DATA
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sales Turnover (Approximately) |
30.000 |
23.000 |
25.000 |
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(Due to
Recession) |
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Expected Sales
(2011-12): Rs.40.000 Millions
TRADE REFERENCE:
· Western Railway
· Crompton Greaves Limited, Mumbai
· Hindustan Petroleum Limited, 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.37 |
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|
1 |
Rs.70.84 |
|
Euro |
1 |
Rs.62.96 |
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.