MIRA
INFORM REPORT
|
Report Date : |
23.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
SPEED AUTOTECH PRIVATE LIMITED (w.e.f 20.03.2010) |
|
|
|
|
Formerly Known
As : |
SPEED PROPERTIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Ozone Mall, Raghunathpur, Kazi NAzrul Islam Sarani, Vip Road, P O
Deshbandhu Nagar, Kolkata 700059, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
10.06.2008 |
|
|
|
|
Com. Reg. No.: |
126454 |
|
|
|
|
CIN No.: [Company Identification No.] |
U50102WB2008PTC126454 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALS24681G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAMCS0534N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Dealer of Automobile, Cars |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
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 : |
Yet to Commence Business |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
As per last available financials the company has not started its
commercial activities. Payment terms are not known. Initially, 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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
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 (General Details)
|
Name : |
Mr. Vijay |
|
Designation : |
Senior Accountants |
|
Contact No.: |
91-33-40150800 |
|
Date : |
21.03.2011 |
LOCATIONS
|
Registered Office / Showroom : |
Ozone Mall, Raghunathpur, Kazi NAzrul Islam Sarani, Vip Road, P O
Deshbandhu Nagar, Kolkata 700059, West Bengal, India |
|
Tel. No.: |
91-33-40150800 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Showroom 2: |
241 / 2B |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Suresh Tulshan |
|
Designation : |
Director |
|
Date of Birth/Age : |
20.03.1950 |
|
Date of Appointment : |
10.06.2008 |
|
Date of Cessation: |
24.03.2010 |
|
|
|
|
Name : |
Mr. Atul Makharia |
|
Designation : |
Director |
|
Date of Birth/Age : |
16.10.1974 |
|
Date of Appointment : |
01.02.2010 |
|
|
|
|
Name : |
Ms. Rina Makharia |
|
Designation : |
Director |
|
Date of Birth/Age : |
30.07.1981 |
|
Date of Appointment : |
10.06.2008 |
|
Date of Cessation: |
24.03.2010 |
|
|
|
|
Name : |
Mr. Adarsh Tulshan |
|
Designation : |
Director |
|
Date of Birth/Age : |
05.06.1979 |
|
Date of Appointment : |
01.02.2010 |
|
|
|
|
Name : |
Mr. Abhishek Khanna |
|
Designation : |
Director |
|
Date of Birth/Age : |
09.03.1979 |
|
Date of Appointment : |
02.07.2010 |
KEY EXECUTIVES
|
Name : |
Mr. Vijay |
|
Designation : |
Senior Accountants |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Equity Shareholders |
No. of Shares |
|
Mr. Suresh Tulshan |
5000 |
|
Mr. Atul Makharia |
37500 |
|
Ms. Rina Makharia |
5000 |
|
Mr. Adarsh Tulshan |
37500 |
|
JIA Properties Private Limited, Kolkata, |
25000 |
|
Total
|
110000 |
|
|
|
|
Names of Preference Shareholders |
No. of Shares |
|
Ms. Vandana Dalmia |
120000 |
|
Total
|
120000 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Dealer of Automobile, Cars |
GENERAL INFORMATION
|
No. of Employees : |
50 Approximately |
|
|
|
|
Bankers : |
HDFC Bank, HDFC Bank Hose Senapati Bapat Marg, Lower Parel (West),
Mumbai 400013, |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Nawalgaria Sandeep and Company Chartered Accountant |
|
Address : |
3A, |
|
Tel. No.: |
91-33-22281957 |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs. 10 each |
Rs.2.000 millions |
|
|
|
|
|
|
150000 |
Preference Shares |
Rs. 10. each |
Rs. 1.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
110000 |
Equity Shares |
Rs. 10 each |
Rs.1.100 millions |
|
|
|
|
|
|
120000 |
Preference Shares |
Rs. 10. each |
Rs. 1.200 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.100 |
0.100 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
20.900 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(0.060) |
(0.007) |
|
|
NETWORTH |
|
20.940 |
0.093 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
20.940 |
0.093 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.000 |
0.000 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
|
20.366
|
0.077 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.625
|
0.000 |
|
Total
Current Assets |
|
20.991 |
0.077
|
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
|
0.113
|
0.002 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
0.113 |
0.002 |
|
|
Net Current Assets |
|
20.878 |
0.075 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.062 |
0.018 |
|
|
|
|
|
|
|
|
TOTAL |
|
20.940 |
0.093 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
INCOME |
|
|
|
|
|
|
|
Dividend from Mutual Fund |
|
0.002 |
0.000 |
|
|
|
TOTAL (A) |
|
0.002 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Audit Fees |
|
0.008 |
0.002 |
|
|
|
Consultancy Charges |
|
0.013 |
0.000 |
|
|
|
Filing fees |
|
0.004 |
0.000 |
|
|
|
Miscellaneous Expenses |
|
0.014 |
0.000 |
|
|
|
Preliminary Expenses Written Off |
|
0.017 |
0.005 |
|
|
|
TOTAL (B) |
|
0.056 |
0.007 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(0.054) |
(0.007) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(0.054) |
(0.007) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
(0.054) |
(0.007) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
(0.054) |
(0.007) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(0.007) |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(0.061) |
(0.007) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total
Income |
(%) |
|
(2700.00) |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
(2700.00) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(0.26) |
(9.09) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.00) |
(0.07) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.01 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
185.76 |
38.50 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIALS:
The Company achieved a Gross Income of Rs. 0.002 million and a Net Loss of Rs.0.053 million during the year ended 31.03.2010
NOTE:
Registered office of the company has been shifted from 39,
FORM 8
|
Corporate
identity number of the company |
U50102WB2008PTC126454 |
|
Name of the
company |
SPEED AUTOTECH PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Ozone Mall, Raghunathpur, Kazi NAzrul Islam Sarani, Vip Road, P O
Deshbandhu Nagar, Kolkata 700059, West Bengal, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Floating charge |
|
Particular of
charge holder |
HDFC Bank, HDFC Bank Hose Senapati Bapat Marg, Lower Parel (West),
Mumbai 400013, Email: Manash.Purohit@hdfcbank.com
|
|
Nature of
instrument creating charge |
Letter of
Hypothecation of Stocks and Book Debts. |
|
Date of
instrument Creating the charge |
28.05.2010 |
|
Amount secured by
the charge |
Rs. 80.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest at the
rate as may be communicated by the Bank from time to time. Terms of repayment On Demand. Margin Company shall at
all times during the continuance of this security maintain the said debts of a sufficient amount to
provide the margin of security as may from time to time advised by the Bank. Extent and operation of the charge Hypothecation by
way of First Charge on Company's Stocks, Book Debts etc., as mentioned in
Column No.15 below to secure as a continuing security for the repayment of
Rs.80.000 millions, together with interest, costs, charges, expenses and
other moneys due and payable by the Company to the Bank. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation by way first charge on : i) All the stock in trade both present and future consisting of raw
materials, finished goods, goods in process of manufacturing and other
merchandise whatsoever being movable properties now or at any time hereafter
belonging to us or at our disposal and now or at any time and from time to
time hereafter stored or to be stored or brought into or upon or in course of
transit to our factory or premises or at any other place whatsoever and
wheresoever in our possession or occupation or at any other premises or place
; and ii) All book-debts, outstandings monies receivables, claims and bills
which are now due and owing or which may at any time hereafter during the
continuance of this security become due and owing to the Company in the
course of its business by any person, firm, company or body corporate or by
the Government Department or office or any Municipal or Local or Public or
Semi Government Body or authority or any body corporate or undertaking or
project whatever in the public sector. |
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.44.97 |
|
|
1 |
Rs.73.35 |
|
Euro |
1 |
Rs.63.98 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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.