MIRA
INFORM REPORT
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Report Date : |
04.06.2011 |
IDENTIFICATION DETAILS
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Name : |
BF INFRASTRUCTURE LIMITED |
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Registered
Office : |
Pune Cantonment, Mundhwa, Pune-411036, |
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Country : |
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Date of Incorporation
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05.07.2010 |
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Com. Reg. No.: |
136755 |
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Capital
Investment / Paid-up Capital : |
Rs.10.000
Millions |
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CIN No.: [Company Identification
No.] |
U45203PN2010PLC0136755 |
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Legal Form : |
A closely held Public Limited Liability Company. |
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Line of Business
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Construction of Power Plant. |
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No. of Employees
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60 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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- |
NB |
New Business |
- |
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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 complete its one full year of
operation. Business is active. Payments terms are unknown. Initially, the company can be considered for business dealings on a
safe and secured trade terms and conditions. |
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. Rohit |
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Designation : |
Finance Manager |
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Contact No.: |
91-120-4638000 |
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Date : |
01.06.2011 |
LOCATIONS
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Registered Office : |
Pune Cantonment, Mundhwa, Pune-411036, |
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Tel. No.: |
91-20-26702777 |
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Fax No.: |
91-20-26822387 |
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E-Mail : |
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Website : |
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Corporate Office: |
Bharat Forge – Alstom Joint Venture at Mundra Advisor Power Sector, Bharat Forge Capital Goods Division, Noida, |
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Tel. No.: |
91-120-4638000 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Babasaheb Neelkhanth Kalyani |
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Designation : |
Director |
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Address : |
Amit, 221/A, Kalyani Nagar, Yerawada, Pune-411006, |
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Date of Birth/Age : |
07.01.1949 |
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Name : |
Mr. Amit Babasaheb Kalyani |
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Designation : |
Director |
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Address : |
Amit, 221/A, Kalyani Nagar, Yerawada, Pune-411006, |
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Date of Birth/Age : |
26.07.1975 |
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Name : |
Mr. Sunil Kumar Chaturvedi |
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Designation : |
Director |
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Address : |
D-16, Sector -39, Noida-201301, |
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Name : |
Mr. Bhava Kalyani |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. Rohit |
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Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Bharat Forge Limited, |
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999994 |
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Babasaheb Neelkhanth Kalyani |
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1 |
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Amit Babasaheb Kalyani |
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1 |
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Gopal Krishan Agarwal |
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1 |
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Sunil Kumar Chaturvedi |
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1 |
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Praveen Kumar Maheshwari |
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1 |
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Shrinivas Balvant Kanade |
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1 |
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Total |
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1000000 |
BUSINESS DETAILS
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Line of Business : |
Construction of Power Plant. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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No. of Employees : |
60 (Approximately) |
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Bankers : |
Axis Bank Limited, Ground Floor, Office No. 1, Tower A, Lobe-05, Plot
No. A-41, The Corenthum, Sector-62, Noida-201301, |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
RMA Associates Chartered Accountant |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
New Company
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
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This form is for |
Creation of
charge |
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Corporate identity
number of the company |
U45203PN2010PLC136755 |
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Name of the
company |
BF INFRASTRUCTURE
LIMITED |
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Address of the
registered office or of the principal place of business in |
Pune Cantonment, Mundhwa, Pune-411036, |
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Type of charge |
Book Debts Movable Property
(not being pledge) Floating Charge Others |
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Particular of
charge holder |
Axis Bank Limited, Ground Floor, Office No. 1, Tower A, Lobe-05, Plot No.
A-41, The Corenthum, Sector-62, Noida-201301, |
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Email |
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Nature of
description of the instrument creating or modifying the charge |
Composite Hypothecation
Deed dated January 12, 2011 for the fund and non fund based facilities
totaling Rs.2500.000 Millions. |
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Date of
instrument Creating the charge |
12.01.2011 |
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Amount secured by
the charge |
Rs.2500.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit:-
Base Rate+2.75% (i.e. 10.75% at present); Bank Guarantee:-
Commission rate @ 0.5% quarterly. Terms of
Repayment On demand. Margin Cash Credit:-
Finished goods- 25%, Store and Spares- 25%, Book Debts (upto 180 days)- 25%; Bank Guarantee:-
Nil, 100% cash margin in case of disputed liabilities. Extent and
Operation of the charge The charge shall
operate for credit facilities amounting to Rupees 2500.000 millions together
with interests, commissions, legal and other course charges, payments etc.,
relating to and incidental to security charged. |
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Short particulars
of the property charged |
"Current
Assets" and "Movable Properties'" of Composite Hypothecation
Deed dated 12.01.2011 |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.85 |
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1 |
Rs.73.29 |
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Euro |
1 |
Rs.64.89 |
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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.