MIRA
INFORM REPORT
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Report Date : |
22.06.2011 |
IDENTIFICATION DETAILS
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Name : |
EXCEL INNOVATIONS PRIVATE LIMITED |
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Registered
Office : |
B 2/5 Ganga Residency, Hadapsar, Pune 411028, Maharashtra |
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Country : |
India |
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Date of
Incorporation : |
06.11.2000 |
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Com. Reg. No.: |
015501 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 million |
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CIN No.: [Company Identification
No.] |
U40108PN2000PTC015501 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Solar Water Heating Systems |
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No. of Employees
: |
5 Approximately |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (11) |
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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 : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The latest
financial of the company have not been filed with the Government Department.
Business is active. Payments are unknown. The company can be considered for business dealings on a 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. D B Sarkar |
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Designation : |
Director |
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Contact No.: |
91-9371019941 |
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Date : |
17.06.2011 |
LOCATIONS
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Registered Office : |
B 2/5 Ganga Residency, Hadapsar, Pune 411028, Maharashtra |
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Tel. No.: |
91-20-30426528 |
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Mobile No.: |
91-9371019941 (Mr. D B Sarkar) |
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E-Mail : |
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Location : |
Owned |
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Corporate Office : |
L-108, |
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Area : |
300 Sq. ft. |
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Location : |
Leased |
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Factory : |
Peenya Estate, 4th Cross, Bangalore-500601, |
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Area : |
2 Acres |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2008
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Name : |
Ms. Rajalaxmi D Sarkar |
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Designation : |
Director |
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Address : |
B-42, |
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Date of Birth/Age : |
03.06.1964 |
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Qualification : |
Graduate |
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Date of Appointment : |
06.11.2000 |
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Name : |
Mr. Debashis B Sarkar |
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Designation : |
Director |
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Address : |
B-42, |
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Date of Birth/Age : |
05.12.1963 |
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Qualification : |
Mechanical Engineer |
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Date of Appointment : |
06.11.2000 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2008
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Names of Shareholders |
No. of Shares |
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Mr. Debashis B Sarkar |
5000 |
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Ms. Rajalaxmi D Sarkar |
5000 |
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Total |
10000 |
AS ON 30.09.2008
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Solar Water Heating Systems |
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Products : |
GENERAL INFORMATION
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Customers : |
End Users, Retailers, Wholesaler v TATA Motors Limited, Pune , Uttaranchal v Reliance Infocom, Mumbai v K. Raheja Corp., Mumbai v Jain Hostel, (Vadala) Mumbai v
Sahara v Hotel Mittal Residancy, Lonawala v Hotel Vallerina, Lonawala v
Kumar Builders, Pune |
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No. of Employees : |
5 Approximately |
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Bankers : |
v
Union Bank Of v
Vijaya Bank, Shop No. 54-55, Graphicon Arcade,
Opposite Ruiby Hall Clinic, BHole Patil Road, Pune 411001, Maharashtra, India
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. B G and Company Chartered Accountant |
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Sister Concern: |
Kotak Urga Private Limited Address :Peenya Estate, 4th Cross, Bangalore-500601, Line of Business : Turnkey Projects |
CAPITAL STRUCTURE
AS ON 30.09.2008
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10 each |
Rs. 0.100 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10 each |
Rs. 0.100 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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Sales Turnover (Approximately) |
20.000 |
15.000 |
10.000 |
The above information has been parted by Mr. D B Sarkar
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCE:
v Tata Motors
FORM 8 :
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This form is for |
Creation of
charge |
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Corporate identity
number of the company |
U40108PN2000PTC015501 |
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Name of the
company |
Excel Innovations
Private Limited |
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Address of the
registered office or of the principal place of business in |
B-2/5, Ganga
Residency, HAdapsar, Pune-411028, |
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Type of charge |
Book Debts All Tangible
Movable Assets |
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Particular of
charge holder |
Vijaya Bank
Limited, Shop No. 54-55,
Graphicon Arcade, Opposite Ruby Hall Cliniv, E-mail : amd_cs@rediffmail.com |
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Nature of
description of the instrument creating or modifying the charge |
Overdraft
Agreement dated 06.10.2008 Hypothecation
Agreement dated 06.10.2008 Both these
charges creates single charge |
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Date of
instrument Creating the charge |
06.10.2008 |
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Amount secured by
the charge |
Rs.1.900 Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest PLR+1% Floting
i.e 15% Floting Terms of
Repayment Facility for 36
months with review after 18 months Margin As per Agreement Extent and
Operation of the charge Limit : Overdraft
Limit Others All other terms
and conditions as per agreements |
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Short particulars
of the property charged |
Hypothecation of
movable properties like stock debtors machinery plant accessories tools and
all tangible movable assets. |
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
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Indian Rupees |
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US Dollar |
1 |
Rs.44.91 |
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1 |
Rs.72.89 |
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Euro |
1 |
Rs.64.48 |
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 |
1 |
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--RESERVES |
1~10 |
-- |
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--CREDIT LINES |
1~10 |
-- |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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 |
YES |
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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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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
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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.