MIRA
INFORM REPORT
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Report Date : |
30.06.2011 |
IDENTIFICATION DETAILS
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Name : |
DATSONS ENGINEERING WORKS PRIVATE LIMITED |
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Registered Office
: |
Plot No. W 13, S Block, MIDC, Bhosari, Pune 411026, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
15.01.2009 |
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Com. Reg. No.: |
133374 |
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Capital Investment/
Paid-up Capital: |
Rs.0.400 million |
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CIN No.: [Company Identification
No.] |
U29299PN2009PTC133374 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNED07319E |
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PAN No.: [Permanent Account No.] |
AADCD1015G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Auto Components, Press Components, Bonnet
Bumper, Air Cleaner and Lighting |
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No. of
Employees: |
25 Approximately |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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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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Maximum Credit Limit : |
USD 1600 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a successor of Datsons Engineering Works, a proprietory concern
started in the year 1983. Now transferred in Private Limited in the March
2010. Trade relations are reported as fair. Business is active. Payments are
reported to be slow. The company can be considered for business dealings with some caution.
Profit and Loss Account is not Available. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
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Name : |
Mr. Sachin |
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Designation : |
Accountant |
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Date : |
29.06.2011 |
LOCATIONS
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Registered Office/Factory : |
Plot No. W 13, S Block, MIDC, Bhosari, Pune 411026, |
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Tel. No.: |
91-20-27127414 / 27120909 |
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Fax No.: |
91-20-27120909 / 27121144 |
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E-Mail : |
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Website : |
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Area : |
5000 sq.ft |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Rajendra Wedhikar |
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Designation : |
Director |
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Date of Birth/Age : |
17.08.1955 |
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Date of Appointment : |
15.01.2009 |
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Name : |
Mrs. Varsha Wedhikar |
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Designation : |
Director |
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Date of Birth/Age : |
04.08.1960 |
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Date of Appointment : |
15.01.2009 |
KEY EXECUTIVES
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Name : |
Mr. Sachin |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 14.07.2010
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Names of Shareholders |
No. of Shares |
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Rajendra Wedhikar |
36000 |
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Varsha Wedhikar |
4000 |
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Total |
40000 |
Equity Share
Breakup (Percentage of Total Equity)
AS ON 14.07.2010
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Category |
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Percentage of
Holding |
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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 and Exporter of Auto Components, Press Components, Bonnet
Bumper, Air Cleaner and Lighting |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
25 Approximately |
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Bankers : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mujumdar and Dixit Chartered Accountant |
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Address : |
C 1/201, Swamipuram, 2160/B, Sadashiv Peth, Pune 411030, |
CAPITAL STRUCTURE
After 14.07.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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600000 |
Equity Shares |
Rs. 10 each |
Rs. 6.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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600000 |
Equity Shares |
Rs. 10 each |
Rs. 6.000 Millions |
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AS ON 14.07.2010
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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40000 |
Equity Shares |
Rs. 10 each |
Rs.0.400 million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.400 |
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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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0.400 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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0.400 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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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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0.227 |
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Other Current Assets |
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Loans & Advances |
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Total
Current Assets |
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0.227 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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Other Current Liabilities |
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0.006 |
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Provisions |
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Total
Current Liabilities |
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0.006 |
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Net Current Assets |
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0.221 |
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MISCELLANEOUS EXPENSES |
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0.179 |
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TOTAL |
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0.400 |
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KEY RATIOS
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PARTICULARS |
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31.03.2010 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.02 |
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Current Ratio (Current Asset/Current Liability) |
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37.83 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL
HIGHLIGHTS:
This is the first year of the company and the directors are taking
efforts to start operations of the company. Hence there is no income during the
year under report. Pursuant to main object clause of Memorandum of Association
of the company, the company took over the running business of Datsons
Engineering Works, a proprietary concern with all its assets, liabilities,
rights, goodwill, entitlements, licenses, registrations, privileges, secrets,
obligations, assignments, bookings, contracts, commitments, goods, articles and
things w.e.f. 1st April, 2010.
FORM 8
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Corporate
identity number of the company |
U29299PN2009PTC133374 |
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Name of the
company |
DATSONS ENGINEERING WORKS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
Plot No. W 13, S Block, MIDC, Bhosari, Pune 411026, |
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This form is for |
Creation of
charge |
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Type of charge |
Immovable
property Any Interest in
immovable property Movable property
(not being pledge) |
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Particular of
charge holder |
Small Industries Development Bank of Email: rnyadav@sidbi.in |
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Nature of
instrument creating charge |
Agreement for
term loan limit-cum-hypothecation dtd. 23/02/2011 Declaration and
Undertaking dtd. 23/02/2011 Both documents are
executed to create a single charge |
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Date of
instrument Creating the charge |
23.02.2011 |
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Amount secured by
the charge |
Rs. 6.300
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 0.5%above SIDBI
PLR rising or falling therewith, with monthly rests. Current SIDBI PLR being
11%p.a. current effective rate of interest being 11.50%p.a. Terms of repayment The loan shall be
repaid in 54 monthly installments comprising the first 50 installments of
Rs.0.116 million followed by last four monthly installment of Rs. 0.125
million commencing after six months from the date of first disbursement. Extent and operation of the charge To secure by
first charge the due repayment and discharge to sidbi of its term loan
of Rs 6.300 millions and payment of other moneys including interest,
further interest, additional interest penal interest, costs, charges and expenses and all other monies due to sidbi
under the loan agreement and/or these presents Other The Security
Shall Be A Continuing Security |
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Short particulars
of the property charged (Including location of the property) |
First charge by
way of hypothecation to be created by Datsons Engineering Works Private
Limited in favour of SIDBI on all the movables including movable machinery,
machinery spares, tools, accessories etc aquired / to be acquired with the
term loan of Rs 6.300 millions in a form and manner satisfactory to SIDBI Extension of first
charge by way of equitable mortgage, to be created by Datsons Engineering
Works Private Limited in favour of SIDBI of Plot No W-14, S Block, MIDC
Bhosari, Pune together with the building[s] constructed / that may be
constructed thereon Extension of first
charge by way of hypothecation to be created by Datsons Engineering Works
Private Limited in favour of SIDBI on all the movables including movable
machinery, machinery spares, tools accessories etc acquired by Datsons
Engineering Works under the projects assisted by earlier SIDBI term loans |
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.44.94 |
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|
1 |
Rs.71.91 |
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Euro |
1 |
Rs.64.60 |
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 |
3 |
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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 |
2 |
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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 |
NO |
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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 |
YES |
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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 |
|
26 |
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
|
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.