MIRA INFORM REPORT

 

 

Report Date :

02.03.2011

 

Note: The correct name of the company is JAYANTI OVERSEAS PRIVATE LIMITED

 

IDENTIFICATION DETAILS

 

Name :

JAYANTI OVERSEAS PRIVATE LIMITED

 

 

Registered Office :

72, Buranpur Road, Opposite Court Road Club, Asansol, PS Asannosl, District Budwan-713304, West Bengal

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

21.07.1994

 

 

Com. Reg. No.:

064060

 

 

CIN No.:

[Company Identification No.]

U51392WB1994PTC064060

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CALJ03352G

 

 

PAN No.:

[Permanent Account No.]

AABCJ1323K

 

 

Legal Form :

Private Limited Liability Company.

 

 

Line of Business :

Exporter of Agro Products and Vegetables.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (13)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Recently Recommenced

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject was established in the year 1994 and was into Handloom business but due to unfavourable market conditions the company had stopped this activity. In between there was no activity in the company. Later the company started business of distribution of DISH TV but again had to be stopped due to hard competition. A few months back i.e. 5-6 months back the company again changed its activity and at present it is into business of exporting of Agro Products.

 

Keeping in view the aforesaid it would be advisable to enter into business dealing on 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

 

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

INFORMATION PARTED BY

 

Name :

Mr. Dhiraj Sain

Designation :

Director

Contact No.:

91-8145500616

Date :

21.02.2010

 

 

LOCATIONS

 

Registered Office :

72, Buranpur Road, Opposite Court Road Club, Asansol, PS Asannosl, District Budwan-713304, West Bengal, India

Tel. No.:

91-341-2256743/ 3413291365

Mobile No.:

91-8145500616 (Mr. Dhiraj Sain)

Fax No.:

91-341-2253743

E-Mail :

jayantioverseas@gmail.com

sbose2002@gmail.com

jayanti_overseas@yahoo.com

Website :

http://www.jayantioverseas.com

Area :

3000 sq.ft. (Owned)

 

 

DIRECTORS

 

As on 29.09.2007

 

Name :

Mr. Dhiraj Sain

Designation :

Director

Date of Birth/Age :

55 Years

Qualification :

LLB

Date of Appointment :

21.07.1994

DIN No.:

00920261

 

 

Name :

Mr. Tapati Sain

Designation :

Director

Date of Birth/Age :

50 Years

Qualification :

HSC

Date of Appointment :

21.07.1994

DIN No.:

00920303

 

 

Name :

Mr. Joyraj Sain

Designation :

Director

Date of Birth/Age :

45 Years

Qualification :

Graduate

Date of Appointment :

21.07.1994

DIN No.:

00920363

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 29.09.2007

 

 

Names of Shareholders

 

No. of Shares

Dhiraj Sain

 

7000

Bhabani Sain

 

6000

Joyraj Sain

 

9000

Somnath Roy

 

500

Suryasunder Mitra

 

500

Kamakhya KLumar Sain

 

5000

Malati Sain

 

4500

Tapati Sain

 

7000

Rinku Sain`

 

4500

Priyaraj Sain

 

5000

Pompi Sain

 

2500

Subhraj Sain

 

4000

Sandhya Jash

 

2000

Swaraj Sain

 

10000

Total

 

67500

 

Equity Share Breakup (Percentage of Total Equity)

As on 30.09.2010

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Exporter of Agro Products and Vegetables.

 

 

Exports :

 

Countries :
  • Australia
  • UK
  • Dubai

 

GENERAL INFORMATION

 

Customers :

Wholesalers

 

 

No. of Employees :

Approximately 20 (In office)

 

 

Bankers :

State Bank of India, Main Branch, Asansol

Axis Bank, G T Road Branch, Burdwan, India

 

 

Facilities :

 

 

 

 

Banking Relations :

 

 

 

Auditors :

 

Name :

 P K Ghatak and Company

Chartered Accountant

Address :

Upper Chelidanga, Asansol-713304, West Bengal, India

Tel. No.:

91-33-2282501

 

 

Associates/Subsidiaries :

Jayanti Housing And Construction Private Limited, Asansol, Burdwan, India

 

 

CAPITAL STRUCTURE

 

As on 31.03.2010

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

200000

Equity Shares

Rs. 10/- each

Rs. 2.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

67500

Equity Shares

Rs. 10/- each

Rs. 0.675 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2010

31.03.2009

31.03.2008

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

0.675

0.675

0.675

2] Share Application Money

0.700

0.700

0.700

3] Reserves & Surplus

0.000

0.000

0.000

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

1.375

1.375

1.375

LOAN FUNDS

 

 

 

1] Secured Loans

0.000

0.000

0.000

2] Unsecured Loans

0.000

0.000

0.000

TOTAL BORROWING

0.000

0.000

0.000

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

1.375

1.375

1.375

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

0.014

0.014

0.016

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
0.000

0.000

0.123

 

Sundry Debtors
0.000

0.000

0.007

 

Cash & Bank Balances
1.251

0.000

1.145

 

Other Current Assets
0.005

1.285

0.005

 

Loans & Advances
0.000

0.000

0.000

Total Current Assets
1.256

1.285

1.280

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
0.000

0.000

0.000

 

Other Current Liabilities
0.002

0.006

0.004

 

Provisions
0.000

0.000

0.000

Total Current Liabilities
0.002

0.006

0.004

Net Current Assets
1.254

1.279

1.276

 

 

 

 

MISCELLANEOUS EXPENSES

0.107

0.082

0.083

 

 

 

 

TOTAL

1.375

1.375

1.375

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2009

31.03.2008

 

SALES

 

 

 

 

 

Income (Turnover)

 

0.445

1.782

 

Expected Sales (2010-2011) : Rs. 1.000 Million

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

31.03.2008

Debt Equity Ratio

(Total Liability/Networth)

 
0.001

0.004

0.002

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
628.00

214.17

320.00

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Trade References:

 

·         NRB Sales- Kolkata

 

AS PER WEBSITE

 

History:

 

India is one of the few countries gifted by Nature with a variety of natural features. Agro climatic suitability coupled with abundance of natural resources endowment, equipped India with a unique comparative age in the cultivation of a variety of horticulture crops. She is in a unique position to grow in a large number of different varieties of flowers, including temperate flowers grown in high altitudes. Also in the Plains, the rich deposits of Alluvial soils on the banks of the several rivers flowing in the country under different agro climatic zones and conditions, help in the cultivation of a wide range of quality vegetables and fruits having high value of nutrients.
Horticulture today contributes for over 24.5% of the country's agriculture GDP


As such, India has emerged as the second largest producer of fruits and vegetables in the world. Also, is at the top position in the production of several horticultural crops like mango, potato, onion, garlic, chillies etc. For protection of soil fertility as well as the health of population, organic farming is adopted by recycling all organic wastes generated in farms; optimal use of underground water, soil conservation and biological control of pest and diseases.


Subject made its debut in the emerging Agriculture, Process food and Agro based Industries in the year 1994 and since then there is no looking back. They have grown steadily and consistently over the past few years and currently they are having an impressive presence in India. subject is registered with the Registrar of Companies, Govt. of India. They are striving hard to explore new opportunities and to expand the presence further. They have gained vast experience by trading and doing business in wholesale market as distributor of reputed Indian and MNC companies. They also import to meet the domestic requirements.


The network of Farms range from small to large and they are located in different climate zones in India. They procure fresh fruits and vegetables direct from the fields and flowers from different green houses and nurseries. They have an effective infrastructure and procurement chain in the village segments having fruitful tie up with the Farms. They also maintain cold chain for exporting flowers, vegetables and fruits in 2 to 4 degree centigrade or in temperature as per requirement.

 

Profile:

 

Subject has been involved in Agriculture, Process food and Agro based Industries in India since 1994. They are the registered member of Agricultural and Processed Food Products Export Development Authority (APEDA), under ministry of commerce, Govt. of India. At Jayanti Overseas Private Limited, they give utmost focus on quality and affordability and this is what has helped them to emerge as a leading distributor in the Indian market. The strength lies on the robust network and they have strengthened it further by bringing Farms of different sizes and different climate zones under this network.


To ensure the quality of the export products, they take delight in procuring fresh fruits and vegetables direct from the fields. They collect flowers mainly from reputed green houses and nurseries. It is the highly effective infrastructure and procurement chain that help them to keep the quality of the products intact.


Why will you choose us?

 

• The Vegetables, Fruits and Flowers are 100% inspected and sorted accordingly by the trained staffs.

• After harvesting, total process up to the customer’s destination is coordinated under proper refrigeration.

• They provide phyto certificate from the competent authority with each shipment.

• The flowers have minimum vase life of 7 to 15 days.

• Most competitive price and timely delivery.

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.45.37

UK Pound

1

Rs.73.25

Euro

1

Rs.62.68

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

2

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

2

--PROFITABILIRY

1~10

--

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

--

--CREDIT LINES

1~10

--

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

13

 

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

-

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.