MIRA
INFORM REPORT
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Report Date : |
23.06.2011 |
IDENTIFICATION DETAILS
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Name : |
FAB-TECH WORKS AND CONSTRUCTIONS PRIVATE LIMITED |
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Registered
Office : |
611-616, Swastik Disa Business Park, 6th Floor, LBS Marg,
Opposite Shreyas Cinema, Ghatkopar, Mumbai-400086, Maharashtra |
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Country : |
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Date of
Incorporation : |
19.08.2009 |
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Com. Reg. No.: |
195032 |
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Capital
Investment/ Paid-up Capital: |
Rs. 9.500 Millions |
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CIN No.: [Company Identification
No.] |
U29268MH2009PTC195032 |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
They are into Service Industry of providing labours and materials to
company. |
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No. of
Employees: |
Approximately 15 (in Office) |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 was established in the year 1991 as a proprietory concern under
the name of “Fab-Tech Engineers’. Then name of the concern was changed to
Fab-Tech works and constructions in the year 1998 and later it converted into
private limited in the year 2009. It is a company having moderate track. The financials of the company
are still awaited. However, trade relations are reported as fair. Business is
active. Payment terms are unknown. The company can be considered for business dealings with some caution.
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NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
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Name : |
Mr. S.M Baag |
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Designation : |
Deputy General Manager in Finance |
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Contact No.: |
91-9004607221 |
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Date : |
22.06.2011 |
LOCATIONS
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Registered Office : |
611-616, Swastik Disa Business Park, 6th Floor, LBS Marg,
Opposite Shreyas Cinema, Ghatkopar, Mumbai-400086, Maharashtra, India |
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Tel. No.: |
91-22-25001951/ 52/ 53 |
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Mobile No.: |
91-9004607221 (Mr. S M Baag) |
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Fax No.: |
91-22-25007553 |
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E-Mail : |
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Website : |
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Area : |
1000 sq.ft. (Owned) |
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Workshop : |
Plot No. H-44/43/42/36, M.I.D.C., Additional Murbad Village- Kuda
Murbad-421401, Thane, (They manufacturer pressure vessels, dishends etc as per client
orders) |
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Tel. No.: |
91-2524-222637/ 223384 |
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Fax No.: |
91-2524-222638 |
DIRECTORS
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Name : |
Mr. Jayprakash Narsingdas Lakhani |
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Designation : |
Managing Director |
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Address : |
Block-A 975/1950, Kailash Colony, |
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Date of Birth/Age : |
10.10.1956 |
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Date of Appointment : |
19.08.2009 |
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DIN No.: |
02439745 |
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Name : |
Mrs. Kusum Jayprakash Lakhani |
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Designation : |
Director |
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Address : |
Block-A 975/1950, Kailash Colony, |
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Date of Birth/Age : |
07.12.1957 |
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DIN No.: |
02404501 |
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Name : |
Mr. Aashish Jayprakash Lakhani |
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Designation : |
Director |
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Address : |
Block-A 975/1950, Kailash Colony, |
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Date of Birth/Age : |
08.01.1985 |
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DIN No.: |
02379702 |
KEY EXECUTIVES
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Name : |
Mr. S.M Baag |
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Designation : |
Deputy General Manager in Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Jayprakash N Lakhani |
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21600 |
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K J Lakhani |
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9200 |
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Aashish J Lakhani |
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9200 |
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Total |
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40000 |
BUSINESS DETAILS
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Line of Business : |
They are into Service Industry of providing labours and materials to
company. |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cheque |
GENERAL INFORMATION
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Customers : |
Companies |
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No. of Employees : |
Approximately 15 (in Office) (Labours are on contract basis) |
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Bankers : |
Canara Bank, Nariandas Chambers, Dudh Naka, Near Old Bus Stop, Ulhasnagar
(Head Office Banglore) Ulhasnagar-421005, Maharashtra, India |
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Facilities : |
OCC Rs. 50.000 Millions |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Hari Dudani and Company Chartered Accountant |
CAPITAL STRUCTURE
Authorised Capital : Rs. 9.500 Millions
Paid-up Capital : Rs. 9.500 Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2011 |
31.03.2010 |
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Sales Turnover (Approximately) |
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400.000 |
90.000 |
The above information has been parted by Mr. S M Baag (Deputy General Manager in Finance)
LOCAL AGENCY FURTHER INFORMATION
Trade References:
·
Larsen and Tubro
·
Thermax Limited
·
SHV Private Limited
Bankers Charges
Report as per Registry
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Corporate identity
number of the company |
U29268MH2009PTC195032 |
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Name of the
company |
FAB-TECH WORKS AND CONSTRUCTIONS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
611-616, Swastik Disa Business Park, 6th Floor, LBS Marg,
Opposite Shreyas Cinema, Ghatkopar, Mumbai-400086, Maharashtra, India |
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This form is for |
Creation of
Charge |
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Type of charge |
Immovable Property |
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Particular of
charge holder |
Canara Bank, Nariandas Chambers, Dudh Naka, Near Old Bus Stop,
Ulhasnagar (Head Office Banglore) Ulhasnagar-421005, Maharashtra, India |
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Nature of
instrument creating charge |
Deed of Mortgage
Dated 25.04.2011 |
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Date of
instrument Creating the charge |
25.04.2011 |
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Amount secured by
the charge |
Rs. 205.400
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Earlier Term Loan
of Rs. 6.400 Millions, Disbursed on 01.06.2010 15.00% p.a. Compounded Monthly Floating Fresh Term of Loan of Rs.
9.000 Millions, 14.25% p.a. compounded monthly floating OCC for Rs. 50.000
Millions 13.75% p.a. Float. Terms of
Repayment 1. Earlier Term
Loan of Rs 6.400 Millions - 47 installments of Rs. 133333/- plus interest as
and when due and last installments of Rs. 133349 + interest as and when due. 2. Fresh Term
Loan 50 Installments of Rs 180000 plus interest as and when due. Margin 1. Earlier Term
Loan of 6.400 Millions, Margin 32.95 % 2. Fresh Term Loan
of Rs. 9.000 Millions Margin 34.16 % 3. OCC Margin 40
% on Book Debts and 25 % on Stock. 4. ILC/FLC 25 % 5. Bank Guarantee
25 % Extent and
Operation of the charge Bank has
sanctioned total limit of Rs. 205.400 Millions, including the earlier term loan
sanction of Rs. 6.400 Millions, hence hypothecation agreement for the total
limits is obtained from the party from borrower and Deed of mortgage for Rs.
205.400 Millions is executed. Details are as follows. 1. Earlier Term
loan 6.400 Millions 2. Fresh Term
Loan 9.000 Millions 3. OCC 50.000
Millions 4. ILC / FLC
20.000 Millions 5. Bank Guarantee
120.000 Millions Others Sub limit of
Advance payment Guarantee (APG) of Rs. 40.000 Millions is sanctioned out of
the total Bank guarantee limit of Rs. 120.000 Millions |
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Short particulars
of the property charged |
1. Plot H 44 MIDC, Additional Murbad, Village
Kudavali, Murbad 421401 Dist Thane. 2. Plot H 43 MIDC, Additional Murbad, Village
Kudavali, Murbad 421401 Dist Thane. 3. Plot H 42 MIDC, Additional Murbad, Village
Kudavali, Murbad 421401 Dist Thane. 4. Plot H 36 MIDC, Additional Murbad, Village
Kudavali, Murbad 421401 Dist Thane. |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.82 |
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1 |
Rs.72.84 |
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Euro |
1 |
Rs.64.58 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
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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28 |
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.