MIRA
INFORM REPORT
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Report Date : |
10.11.2011 |
IDENTIFICATION DETAILS
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Name : |
SOMNATH METALS PRIVATE LIMITED |
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Registered
Office : |
203, Neelkanth Plaza, Opposite Madhupura Market, Shahibaug,
Ahmedabad-380004, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
24.03.2010 |
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Com. Reg. No.: |
04-059979 |
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Capital
Investment / Paid-up Capital : |
Rs.0.150
Million |
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CIN No.: [Company Identification
No.] |
U28113GJ2010PTC059979 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMS21011E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Metal Scrap. |
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No. of Employees
: |
30 [Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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- |
NB |
New Business |
- |
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Maximum Credit Limit : |
USD 600 |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and yet to commence its commercial business activities.
As claimed by Mr. Jaimin, Accounts Executive that the company will start its
commercial business activities in next six months. Payments are unknown. The company can be considered for business dealings on a 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.
INFORMATION PARTED BY
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Name : |
Mr. Jaimin |
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Designation : |
Accounts Executive |
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Contact No.: |
91-79-25620062 |
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Date : |
09.11.2011 |
LOCATIONS
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Registered Office : |
203, Neelkanth Plaza, Opposite Madhupura Market, Shahibaug,
Ahmedabad-380004, Gujarat, India |
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Tel. No.: |
91-79-25620062 |
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Fax No.: |
91-79-25620064 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
As on 23.09.2011
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Name : |
Mr. Sanjay Mulchand Shah |
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Designation : |
Director |
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Address : |
3, Jayeshwar Society, Near Railway Crossing, Shahibaug,
Ahmedabad-380004, Gujarat, India |
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Date of Birth/Age : |
08.01.1979 |
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Date of Appointment : |
24.03.2010 |
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Din No.: |
02170624 |
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Other Directorship:
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Name : |
Mr. Mathuralal Jankilal Shah |
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Designation : |
Director |
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Address : |
104, Setukrupa Apatments, Near Maheshwari Seva Samiti, Shahibaug,
Ahmedabd-380004, Gujarat, India |
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Date of Birth/Age : |
04.07.1953 |
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Date of Appointment : |
24.03.2010 |
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Din No.: |
02170634 |
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Other Directorship:
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Name : |
Mr. Sandipkumar Mulchand Shah |
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Designation : |
Director |
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Address : |
3, Jayeshwar Society, Near Railway Crossing, Shahibaug,
Ahmedabad-380004, Gujarat, India |
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Date of Birth/Age : |
07.11.1980 |
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Date of Appointment : |
24.03.2010 |
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Din No.: |
02170652 |
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Other Directorship:
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Name : |
Mr. Mulchand Jankilal Shah |
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Designation : |
Director |
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Address : |
3, Jayeshwar Society, Near Railway Crossing, Shahibaug,
Ahmedabad-380004, Gujarat, India |
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Date of Birth/Age : |
26.01.1950 |
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Date of Appointment : |
09.08.2011 |
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Din No.: |
03595003 |
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Other Directorship:
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KEY EXECUTIVES
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Name : |
Mr. Jaimin |
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Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.09.2011
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Names of Shareholders |
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No. of Shares |
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Sanjay Mulchand Shah |
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5000 |
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Sandipkumar Mulchand Shah |
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5000 |
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Mathuralal Jankilal Shah |
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5000 |
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Total |
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15000 |
As on 23.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader and Importer of Metal Scrap. |
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Exports : |
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Products : |
Metal Scrap |
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Countries : |
·
Japan ·
Vietnam ·
China |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
L/C / Cash and Credit (30 days) |
GENERAL INFORMATION
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Customers : |
OEM’s and Industries |
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No. of Employees : |
30 [Approximately] |
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Bankers : |
Axis Bank Limited, 3rd Floor, Trishul, Opposite
Samartheshwar Temple, Law Garden, Ellisbridge, Ahmedabad-380006, Gujarat,
India |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
Mahesh and Akhilesh Deopura Chartered Accountants |
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Address : |
306, M.V. House, Opposite Hathisingh Wadi, Shahibaug,
Ahmedabad-380004, Gujarat, India |
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Tel. No.: |
91-79-25632306 |
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E-Mail : |
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Pan No: |
ADSPD5302K |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
15000 |
Equity Shares |
Rs.10/- each |
Rs.0.150
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2011 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.150 |
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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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0.150 |
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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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0.150 |
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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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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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0.132 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.000 |
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Total
Current Assets |
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0.132 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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0.000 |
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Other Current Liabilities |
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0.000 |
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Provisions |
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0.001 |
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Total
Current Liabilities |
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0.001 |
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Net Current Assets |
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0.131 |
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MISCELLANEOUS EXPENSES |
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0.019 |
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TOTAL |
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0.150 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2011 |
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SALES |
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Income |
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0.000 |
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Other Income |
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0.000 |
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TOTAL |
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0.000 |
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Less |
EXPENSES |
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Office Expenses |
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0.000 |
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Administrative Expenses |
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0.000 |
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Advertising Expenses |
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0.000 |
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TOTAL |
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0.000 |
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PROFIT BEFORE
TAX |
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0.000 |
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Less |
TAX |
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0.000 |
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PROFIT AFTER TAX
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0.000 |
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Earnings Per
Share (Rs.) |
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0.00 |
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KEY RATIOS
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PARTICULARS |
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31.03.2011 |
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PAT / Total Income |
(%) |
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0.00 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.00 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.00 |
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Return on Investment (ROI) (PBT/Networth) |
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0.00 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.01 |
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Current Ratio (Current Asset/Current Liability) |
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132.00 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
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Sundry Creditors |
0.000 |
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Check List by
Info Agents |
Available in Report
(Yes / No) |
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1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter’s background |
-- |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
-- |
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12) Profitability for last three years |
-- |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
No |
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16) Details of sister concerns |
-- |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
Yes |
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21) Market information |
-- |
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22) Litigations that the firm / promoter involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
-- |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
No |
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28) Incorporation details, if applicable |
-- |
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29) Last accounts filed at ROC |
-- |
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30) Major Shareholders, if available |
-- |
FINANCIAL RESULTS
The Company has not
start business Activity and the process of the finding out the sufficient space
where the plant can be set up. The directors expected that the production
activity would be started in short time.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of charge |
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Corporate identity number of the company |
U28113GJ2010PTC059979 |
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Name of the company |
SOMNATH METALS PRIVATE LIMITED |
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Address of the registered office or of the
principal place of business in |
203, Neelkanth Plaza, Opposite Madhupura Market, Shahibaug,
Ahmedabad-380004, Gujarat, India |
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Type of charge |
Book Debts Movable Property (not being pledge) |
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Particular of charge holder |
Axis Bank Limited, 3rd Floor, Trishul, Opposite Samartheshwar
Temple, Law Garden, Ellisbridge, Ahmedabad-380006, Gujarat, India |
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Email |
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Nature of description of the instrument
creating or modifying the charge |
Deed of Hypothecation of Current Assets
(Stock And Book Debts) |
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Date of instrument Creating the charge |
07.09.2011 |
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Amount secured by the charge |
Rs.90.000 Millions |
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Brief particulars of the principal terms an
conditions and extent and operation of the charge |
Rate of Interest Cash Credit - BR+3.60% i.e. 13.60 p.a.
with monthly rests (presently BR is @ 10.00 p.a.) Buyers Credit - As per RBI guidelines Terms of Repayment On demand Margin Cash Credit: Stock-25% (excluding obsolete/non-moving
items) Book Debts-30% Buyers Credit: 20% cash margin in form of FDR Extent and Operation of the charge As per Deed of Hypothecation of Current
Assets (Stock And Book Debts) dated 07.09.2011 |
|
Short particulars of the property charged |
First exclusive charge by way of
Hypothecation of entire current assets of the Company (both present and
future) |
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.49.78 |
|
|
1 |
Rs.80.10 |
|
Euro |
1 |
Rs.68.82 |
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.