MIRA
INFORM REPORT
|
Report Date : |
04.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
A K GANDHI MARKETING PRIVATE LIMITED (w.e.f. 18.02.2002) |
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Formerly Known
As : |
A K GANDHI MARKETING LIMITED |
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Registered
Office : |
Shop No. 16/33/38/43, Yashwant Stadium, Behind Gorakshan Mandir, Dhantoli,
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
23.03.1990 |
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Com. Reg. No.: |
11-055942 |
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Capital
Investment / Paid-up Capital : |
Rs. 20.000 Milllons |
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CIN No.: [Company Identification
No.] |
U51900MH1990PTC055942 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NGPA00025E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Dealer for Carrier Air Conditioners and Several Brands. |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
-- |
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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 an established company having moderate track. There appears
some accumulated losses recorded by the company. However, 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 of the company 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.
ECGC Country Risk Classification List – April 1, 2010
|
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 (GENERAL DETAILS)
|
Name : |
Mr. Thakre |
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Designation : |
Account Executive |
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Contact No.: |
91-712-6619850 |
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Date : |
01.10.2011 |
LOCATIONS
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Registered Office : |
Shop No. 16/33/38/43, Yashwant Stadium, Behind Gorakshan Mandir,
Dhantoli, |
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Tel. No.: |
91-712-2526883 / 6619821 / 6619815 / 6619848 / 2558281 / 2530890 |
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Mobile No.: |
91-9890100000 (A. K. Gandhi) |
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Fax No.: |
91-712-2548477 |
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E-Mail : |
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Website : |
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Area : |
500 Sq. ft. |
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Location : |
Rented |
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Head Office : |
Behind Kalilash Petrol Pump Wadi, |
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Area : |
1000 Sq. ft. |
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Location : |
Rented |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Ashok
Ratanlal Gandhi |
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Designation : |
Director |
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Address : |
Plot No. 4,
Chetna Flats, Ramdaspeth, |
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Date of Birth/Age : |
06.03.1949 |
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Qualification : |
B.E. |
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Date of Appointment : |
23.03.1990 |
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DIN : |
00199289 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U51900MH1990PTC055942 |
A K
Gandhi Marketing Private Limited |
Director |
23-03-90 |
23-03-90 |
- |
Active |
NO |
|
2 |
U26950MH1996PTC104604 |
Manish
Cement Products Private Limited |
Director |
18-12-96 |
18-12-96 |
- |
Active |
NO |
|
3 |
U50100MH2004PTC144944 |
Akg
Cars Private Limited |
Director |
10-03-04 |
10-03-04 |
- |
Active |
NO |
|
4 |
U28991MH2003PLC143112 |
Coventry
Springs Limited |
Director |
04-09-04 |
04-09-04 |
15-01-10 |
Active |
NO |
|
5 |
U31900MH2007PTC177142 |
A.K.
Gandhi Cellulars Private Limited |
Director |
27-12-07 |
27-12-07 |
- |
Active |
NO |
|
Name : |
Mrs. Sunita Ashok
Gandhi |
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Designation : |
Director |
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Address : |
Plot No. 4,
Chetna Flats, Ramdaspeth, |
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Date of Birth/Age : |
20.10.1957 |
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Qualification : |
B.A. |
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Date of Appointment : |
23.03.1990 |
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DIN : |
00199243 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U51900MH1990PTC055942 |
A K
Gandhi Marketing Private Limited |
Director |
23-03-90 |
23-03-90 |
Active |
NO |
|
2 |
U26950MH1996PTC104604 |
Manish
Cement Products Private Limited |
Director |
18-12-96 |
18-12-96 |
Active |
NO |
|
3 |
U50100MH2004PTC144944 |
Akg
Cars Private Limited |
Director |
10-03-04 |
10-03-04 |
Active |
NO |
|
4 |
U31900MH2007PTC177142 |
A.K.
Gandhi Cellulars Private Limited |
Director |
27-12-07 |
27-12-07 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Ashok Kumar
Gandhi |
|
80000 |
|
Mrs. Sunita
Gandhi |
|
25000 |
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Mr. Ratanlal
Gandhi |
|
300 |
|
Ms. Achal Gandhi |
|
25000 |
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Mr. Yash Gandhi |
|
25000 |
|
Mr. Govindas
Maloo |
|
900 |
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Mrs. Ashadevi
Maloo |
|
750 |
|
Mr. Pravin Rathi |
|
900 |
|
Ashok Kumar Gandhi
[HUF] |
|
42150 |
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Total |
200000 |
As on 30.09.2010
|
Category |
Percentage |
|
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealer for Carrier Air Conditioners and Several Brands. |
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Agencies Held : |
Carrier |
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Terms : |
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Selling : |
Cash, Credit (30 Days) |
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Purchasing : |
Cash, Credit (30 Days) |
GENERAL INFORMATION
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Customers : |
Retailer and End Users |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
CIN :
L65920MH1994PLC080618 HDFC Bank House Senapati
Bapat Marg, Lower Parel,
Mumbai – 400013, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shah Baheti
Chandak and Company Chartered
Accountant |
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Address : |
205, Ghatate
Chambers, Panchsheel Sqr. |
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PAN No.: |
AAEFS5204J |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
200,000 |
Equity Shares |
Rs. 100/- Each |
Rs.20.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000 |
Equity Shares |
Rs. 100/- Each |
Rs.20.000
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
20.000 |
20.000 |
20.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.629 |
15.648 |
14.760 |
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4] (Accumulated Losses) |
(25.505) |
0.000 |
0.000 |
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NETWORTH |
(4.876) |
35.648 |
34.760 |
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LOAN FUNDS |
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1] Secured Loans |
76.821 |
138.549 |
125.764 |
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2] Unsecured Loans |
36.200 |
38.700 |
60.500 |
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TOTAL BORROWING |
113.021 |
177.249 |
186.264 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
108.145 |
212.897 |
221.024 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
42.402 |
43.871 |
36.884 |
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Capital work-in-progress |
14.571 |
3.096 |
1.447 |
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INVESTMENT |
0.100 |
0.100 |
0.100 |
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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 |
162.734
|
153.434 |
181.804 |
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Sundry Debtors |
111.827
|
125.301 |
156.754 |
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Cash & Bank Balances |
5.694
|
7.153 |
10.573 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
11.305
|
27.643 |
41.850 |
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Total
Current Assets |
291.560
|
313.531 |
390.981 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
33.023
|
32.045 |
65.874 |
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Other Current Liabilities |
207.280
|
114.689 |
142.514 |
|
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Provisions |
0.185
|
0.967 |
0.000 |
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Total
Current Liabilities |
240.488
|
147.701 |
208.388 |
|
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Net Current Assets |
51.072
|
165.830 |
182.593 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
108.145 |
212.897 |
221.024 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
(72.50)
|
9.12 |
11.35 |
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|
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Current Ratio (Current Asset/Current Liability) |
|
1.21
|
2.12 |
1.88 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
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2. Locality of the firm |
Yes |
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3. Constructions 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 |
No |
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12. Profitability for last three years |
No |
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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 |
---- |
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21. Market information |
---- |
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22. Litigations that the firm / promoter involved |
---- |
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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 |
---- |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U51900MH1990PTC055942 |
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Name of the
company |
A. K. GANDHI
MARKETING PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
33, Yashwant
Stadium, Dhantoli, |
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This form is for |
Creation of
charge |
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Type of charge |
Immovable
Property |
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Particular of
charge holder |
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Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Entry recording mortgage by deposit of Title deeds dated 22.12.2009 |
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Date of
instrument Creating the charge |
22.12.2009 |
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Amount secured by
the charge |
Rs.77.500
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As may be agreed
between TATA Capital Limited and the borrower. Terms of
Repayment As may be agreed
between TATA Capital Limited and the borrower. Margin N.A. Extent and
Operation of the charge The charge
extends to the due repayment of the loan of Rs.77.500 million including the
interest, additional interest costs, charges, expenses and all other monies
payable under the Channel Finance Agreement dated 23.10.2009. In the event of
default in payment of interest or repayment of principle amount of the loan
the Borrower shall pay to the Lender, further interest @ 45 p.a. as penal
interest. |
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|
Short particulars
of the property charged |
All that piece or
parcel of property being Plot No.C-27, House No.- 32, situated at Mouza Wadi, Gram Panchayat,
Sonegaon (Nipani), MIDC Industrial Area, District and Tahsil Nagpur
admeasuring 2261 sq.mtr. |
FIXED ASSETS :
- Building
- Furniture and
Fixture
- Plant and Machinery
- Computer
- Vehicle
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 |
|
US Dollar |
1 |
Rs.49.42 |
|
|
1 |
Rs.76.72 |
|
Euro |
1 |
Rs.65.85 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
28 |
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.