MIRA
INFORM REPORT
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Report Date : |
25.03.2011 |
IDENTIFICATION DETAILS
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Name : |
MANN INTERNATIONAL INDIA PRIVATE LIMITED |
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Registered Office : |
606, Sector 14, Gurgaon-122001, Haryana |
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Country : |
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Financials (as on) : |
31.03.2009 |
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Date of Incorporation : |
13.01.1988 |
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Com. Reg. No.: |
05-30183 |
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CIN No.: [Company
Identification No.] |
U74999HR1988PTC030183 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Importer and Exporter of Industrial Projects, Machines,
Games and Jewellery. |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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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 63740 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Trader
relations are reported as fair. Business is active. Payments are reported to be
slow but correct. The company can be considered for business dealings with some
cautions. |
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 : |
Ms. S S Mann |
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Designation : |
Director |
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Contact No.: |
91-9810899936 |
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Date : |
22.03.2011 |
LOCATIONS
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Registered Office / Projects Office : |
606, Sector 14, Gurgaon-122001, |
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Tel. No.: |
91-124-4082511 / 2325146 / 4082511 |
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Mobile No.: |
91-9810899936 (Mr. S. S. Mann) |
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Fax No.: |
91-124-2325146 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Branch 1 : |
No. 157, Pocket-3, Sector-12, Dawarka, |
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Branch 2 : |
24, hours permanent site No-2318/G/3, Mann Avenue Rajeev Nagar,
Gurgaon, |
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E-Mail : |
DIRECTORS
AS ON 26.09.2009
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Name : |
Mr. Satvir Singh Mann |
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Designation : |
Director |
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Address : |
606, Sector-14, Urben Estate, Gurgaon-122001, |
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Date of Birth/Age : |
29.02.1948 |
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Qualification : |
B. Ds |
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Date of Appointment : |
13.01.1988 |
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Name : |
Mr. Miki Mann |
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Designation : |
Director |
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Address : |
606, Sector-14, Urben Estate, Gurgaon-122001, |
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Date of Birth/Age : |
10.12.1974 |
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Qualification : |
MBA |
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Date of Appointment : |
01.02.2008 |
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Name : |
Ms. Kunjumol John |
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Designation : |
Director |
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Address : |
957, Sector-14, Urben Estate, Gurgaon-122001, |
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Date of Birth/Age : |
15.07.1965 |
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Qualification : |
BBA |
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Date of Appointment : |
23.12.1998 |
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Name : |
Mr. Surender Kaur Mann |
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Designation : |
Director |
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Address : |
606, Sector-14, Urben Estate, Gurgaon-122001, |
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Date of Birth/Age : |
07.09.1950 |
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Qualification : |
BA |
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Date of Appointment : |
13.01.1988 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2009
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Names of Shareholders |
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No. of Shares |
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Satvir Singh Mann |
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17300 |
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Surender Kaur Mann |
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2460 |
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Kunjumol John |
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1010 |
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Miki Mann |
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3750 |
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Total |
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24520 |
AS ON 26.09.2009
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Category |
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Percentage |
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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, Importer and Exporter of Industrial Projects, Machines,
Games and Jewellery. |
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Exports : |
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Products : |
Industrial Goods |
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Countries : |
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Imports : |
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Products : |
Stones of Gems |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
L/C, Cash, Credit |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
05 |
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Bankers : |
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Facilities : |
Cash Credit: Rs. 15.000 millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Grover and Grover Associates Chartered Accountant |
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Address : |
B-42, Old Colony, Gurgaon-122001, |
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Tel. No.: |
91-124-2321321 |
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Associates/Subsidiaries : |
Judimann International Limited, |
CAPITAL STRUCTURE
AS ON 30.09.2008
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Share |
Rs.100/- Each |
Rs. 10.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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5714 |
Equity Share |
Rs.100/- Each |
Rs. 0.571
million |
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FINANCIAL DATA
[All figures are in
Rupees Millions]
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Particulars |
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31.03.2010 |
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Sales Turnover (Approximately) |
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20.000 |
Expected Sales (2010-2011) : Rs.50.000 Millions
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.471 |
0.571 |
0.571 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
13.464 |
15.354 |
15.338 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
15.935 |
15.925 |
15.909 |
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LOAN FUNDS |
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1] Secured Loans |
1.050 |
1.012 |
0.625 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
1.050 |
1.012 |
0.625 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
16.985 |
16.937 |
16.534 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.921 |
2.921 |
2.921 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1.686
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1.687 |
1.686 |
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Sundry Debtors |
5.186
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5.189 |
5.204 |
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Cash & Bank Balances |
0.067
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0.072 |
0.041 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
7.507
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7.450 |
7.230 |
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Total
Current Assets |
14.446
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14.398 |
14.161 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.000
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0.000 |
0.000 |
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Other Current Liabilities |
0.362
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0.367 |
0.328 |
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Provisions |
0.020
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0.015 |
0.220 |
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Total
Current Liabilities |
0.382
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0.382 |
0.548 |
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Net Current Assets |
14.064
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14.016 |
13.613 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
16.985 |
16.937 |
16.534 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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Sales Turnover |
0.635 |
0.677 |
0.718 |
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Profit/(Loss) After Tax |
0.009 |
0.016 |
0.010 |
KEY RATIOS
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PARTICULARS |
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31.03.2009 |
31.03.2008 |
31.03.2007 |
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PAT / Total Income |
(%) |
1.42
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2.36 |
1.39 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.08 |
0.09 |
0.07 |
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Current Ratio (Current Asset/Current Liability) |
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37.82 |
37.69 |
25.84 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
The sales of the year are Rs. 0.677 millions (pervious year Rs. 0.718 millions
including interest income of Rs. 0.007 and project and consultancy charges of
Rs. 0.601). The company has earned a net profit of Rs. 0.016 millions (pervious
year Rs. 0.010 millions) after providing Rs. 0.006 millions for income tax
(pervious year Rs. 0.005 millions) which has been transferred to reserve and
surplus A/C. that no dividend is declared in this year. The company hopes to
improve the sales turnover in the next year of Rs. 25.000 millions as company
has adequate orders in hands. That the profit and loss account and balance
sheet as on 31.03.2008 is submitted to the members and the directors of the
company for their board’s approval.
Note:
Registered Office
of the company has been shifted from 5/1, Udyog Vihar, Gurgaon,
Bankers Charges
Report as per Registry
FORM 8
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U74999HR1988PTC030183 |
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Name of the
company |
MANN INTERNATIONAL INDIA PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
606, Sector 14, Gurgaon-122001, |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
Bank of India, Parliament Street Branch, 4, PTI Building, Parliament
Street, New Delhi-110001, Delhi, India Email ID: gupta1010@hotmail.com
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Nature of
description of the instrument creating or modifying the charge |
Agreement of
hypothecation of plant and machinery, stocks and book debts |
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Date of
instrument Creating the charge |
11.04.2009 |
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Amount secured by
the charge |
Rs. 15.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 1. PLC: for up to
270 days 9.75% for beyond 270 days as per bank rules 2. FBP: 10.50% or
at any other rate at the sole discretion of the bank that may be revised from
time to time 3. LC (I/F)DP/DA
90 days: as per the bank rules 4. BG (I/F): as
per bank rules. Terms of
Repayment On demand Margin As prescribed by
the bank from time to time Extent and
Operation of the charge First charge on
all the movable properties of the company Others The charge is to
secure the following credit facilities granted by the bank to the company 1. PLC: Rs.
15.000 millions 2. FBP: Rs. 5.000
millions Maximum of 1+2
Above : Rs. 15.000 millions 3. LC (I/F)DP/DA
90 days: Rs. 10.000 millions 4. BG (I/F): Rs.
5.000 millions Maximum of
1+2+3+4 : Rs. 15.000 millions |
Fixed Assets
- Plant and Machinery
- Inverter
- Dies and Moulds
- Car
- Scooter
- Furniture and Fixture
- Computer
- Generator
- Pager /
- Building
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
|
Indian Rupees |
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US Dollar |
1 |
Rs.44.77 |
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|
1 |
Rs.72.66 |
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Euro |
1 |
Rs.63.06 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
2 |
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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 |
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 |
YES |
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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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27 |
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 |
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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 |
|
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.