MIRA
INFORM REPORT
|
Report Date : |
10.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
SUMMIT INDIA INFRASTRUCTURE PRIVATE LIMITED (w.e.f. 02.12.2010) |
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Formerly Known
As : |
KING EXPORTS PRIVATE LIMITED |
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Registered
Office : |
A-272, New Friends Colony, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
06.08.2001 |
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Com. Reg. No.: |
55-111925 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U51311DL2001PTC111925 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELK04135F |
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PAN No.: [Permanent Account No.] |
AABCK8851F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Real Estate Business |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 37000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct. The company can be considered normal for business dealings at usual
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
A-272, New Friends Colony, |
|
Tel. No.: |
Not Available |
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E-Mail : |
hkcdelhi@yahoo.co.in / subhashgoyal@summitindia.org /
rohit@summitindia.org |
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Corporate Office : |
C-72, Sector-58, |
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Tel. No.: |
91-120-6451537 |
DIRECTORS
As on 30.09.2010
|
Name : |
Ms. Rachna Sawhney |
|
Designation : |
Director |
|
Address : |
A-272, New Friends Colony, |
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Date of Appointment : |
08.03.2002 |
|
DIN No.: |
01093413 |
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 |
U70101DL1997PTC089297 |
SAWHNEY TEXTILELS
PRIVATE LIMITED |
Director |
27-08-97 |
27-08-97 |
- |
Active |
NO |
|
2 |
U51505DL1997PTC089335 |
ARCHER
ELECTRONICS PRIVATE LIMITED |
Director |
05-11-99 |
05-11-99 |
- |
Active |
NO |
|
3 |
U51311DL2001PTC111925 |
SUMMIT INDIA INFRASTRUCTURE
PRIVATE LIMITED |
Director |
08-03-02 |
08-03-02 |
- |
Active |
NO |
|
4 |
U51397DL2001PTC111791 |
PNG MARKETING
AND MANAGEMENT PVT. LTD |
Director |
06-05-03 |
06-05-03 |
- |
Active |
NO |
|
Name : |
Mr. Rohit Sawhney |
|
Designation : |
Director |
|
Address : |
A-272, New Friends Colony, |
|
Date of Appointment : |
08.03.2002 |
|
DIN No.: |
01101277 |
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 |
|
1 |
U70101DL1997PTC089297 |
SAWHNEY
TEXTILELS PRIVATE LIMITED |
Director |
27-08-97 |
27-08-97 |
- |
Active |
|
2 |
U51505DL1997PTC089335 |
ARCHER
ELECTRONICS PRIVATE LIMITED |
Director |
05-11-99 |
05-11-99 |
- |
Active |
|
3 |
U51311DL2001PTC111925 |
SUMMIT INDIA
INFRASTRUCTURE PRIVATE LIMITED |
Director |
08-03-02 |
08-03-02 |
- |
Active |
|
4 |
U51397DL2001PTC111791 |
PNG MARKETING AND
MANAGEMENT PVT. LTD |
Director |
06-05-03 |
06-05-03 |
- |
Active |
|
Name : |
Mr. Sheel Sawhney |
|
Designation : |
Director |
|
Address : |
A-272, New Friends Colony, |
|
Date of Appointment : |
08.03.2002 |
|
DIN No.: |
01101300 |
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 |
U70101DL1997PTC089297 |
SAWHNEY
TEXTILELS PRIVATE LIMITED |
Director |
27-08-97 |
27-08-97 |
- |
Active |
NO |
|
2 |
U51505DL1997PTC089335 |
ARCHER
ELECTRONICS PRIVATE LIMITED |
Director |
05-11-99 |
05-11-99 |
- |
Active |
NO |
|
3 |
U51311DL2001PTC111925 |
SUMMIT INDIA
INFRASTRUCTURE PRIVATE LIMITED |
Director |
08-03-02 |
08-03-02 |
- |
Active |
NO |
|
4 |
U51397DL2001PTC111791 |
PNG MARKETING
AND MANAGEMENT PVT. LTD |
Director |
06-05-03 |
06-05-03 |
- |
Active |
NO |
|
Name : |
Mr. |
|
Designation : |
Director |
|
Address : |
A-272, New Friends Colony, |
|
Date of Appointment : |
08.03.2002 |
|
DIN No.: |
01184406 |
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 |
U70101DL1997PTC089297 |
SAWHNEY
TEXTILELS PRIVATE LIMITED |
Director |
27-08-97 |
27-08-97 |
- |
Active |
NO |
|
2 |
U51505DL1997PTC089335 |
ARCHER
ELECTRONICS PRIVATE LIMITED |
Director |
05-11-99 |
05-11-99 |
- |
Active |
NO |
|
3 |
U51311DL2001PTC111925 |
SUMMIT INDIA
INFRASTRUCTURE PRIVATE LIMITED |
Director |
08-03-02 |
08-03-02 |
- |
Active |
NO |
|
4 |
U51397DL2001PTC111791 |
PNG MARKETING
AND MANAGEMENT PVT. LTD |
Director |
06-05-03 |
06-05-03 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Rohit Sawhney |
5000 |
50% |
|
Prakash Om Sawhney |
5000 |
50% |
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|
|
|
|
Total |
10000 |
100% |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Real Estate Business |
GENERAL INFORMATION
|
Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
H. K. Chaudhary and Company Chartered Accountant |
|
Address : |
101, Nirmal Tower 26, barakhambha Road, |
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Tel. No.: |
91-11-41514981 |
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Mobile No.: |
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Fax No.: |
91-11-23321101 |
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E-Mail : |
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PAN.: |
AAAFH1917K |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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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 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
9.178 |
6.454 |
4.732 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
9.278 |
6.554 |
4.832 |
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|
LOAN FUNDS |
|
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|
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|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
63.742 |
1.843 |
1.843 |
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TOTAL BORROWING |
63.742 |
1.843 |
1.843 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
73.020 |
8.397 |
6.675 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.676 |
5.680 |
5.684 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
35.452 |
3.501 |
1.400 |
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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 |
13.391
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
17.390
|
0.449 |
0.887 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
4.458
|
2.163 |
1.353 |
|
Total
Current Assets |
35.239
|
2.612 |
2.240 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors and Other Current Liabilities |
2.617
|
1.616 |
1.613 |
|
|
Provisions |
0.730
|
1.780 |
1.050 |
|
Total
Current Liabilities |
3.347
|
3.396 |
2.663 |
|
|
Net Current Assets |
31.892
|
(0.784) |
(0.423) |
|
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|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.014 |
|
|
|
|
|
|
|
|
TOTAL |
73.020 |
8.397 |
6.675 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.457 |
2.455 |
2.846 |
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.003 |
0.003 |
0.004 |
|
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|
PROFIT BEFORE
TAX |
3.454 |
2.451 |
2.842 |
|
|
|
|
|
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|
Less |
TAX |
0.730 |
0.730 |
0.690 |
|
|
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|
PROFIT AFTER TAX
|
2.724 |
1.721 |
2.152 |
|
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|
Earnings Per
Share (Rs.) |
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.44
|
29.56 |
35.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.37 |
0.58 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
7.23
|
0.80 |
0.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
10.53
|
0.77 |
0.84 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW OF
OPERATION AND FUTURE OUTLOOK
During the financial year the company had earned a profit of Rs.2.724 Millions
under review against Rsa.1.721 Millions. The Directors are putting in their
best efforts to improve the overall performance of the Company.
NOTE :
Registered office of the company has been shifted from “-48, Okhla Industrial
Area, Phase – II, New Delhi – 110020, Delhi, India” to “A-272, New Friends
Colony, New Delhi – 110025, Delhi, India” w.e.f. 26.05.2011
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.46.38 |
|
|
1 |
Rs.74.01 |
|
Euro |
1 |
Rs.64.48 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.