MIRA
INFORM REPORT
|
Report Date : |
15.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
KITE SALES AND SERVICES PRIVATE LIMITED (w.e.f. 08.08.2011) |
|
|
|
|
Formerly Known
As : |
EARN SALES AND SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
F-5, Alanknanda Complex, Adalat Road, Near, Baba Petrol Pump,
Aurangabad-431005, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Date of
Incorporation : |
16.04.2010 |
|
|
|
|
Com. Reg. No.: |
11-202080 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Available |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52390MH2010PTC202080 |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer of washing powder, detergent soaps, liquid hand wash and
bath soap. |
|
|
|
|
No. of Employees
: |
29 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
Status : |
New Company |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively new company and yet to established itself
gradually. As claim by management, the company will start its business
activities from 20th September, 2011. Payments are unknown. The company can be considered for business dealings on a secured trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Vikas Oberoi |
|
Designation : |
Regional Business Manager |
|
Contact No.: |
91-9209677899 |
|
Date : |
13.09.2011 |
LOCATIONS
|
Registered Office : |
F-5, Alanknanda Complex, Adalat Road, Near, Baba Petrol Pump,
Aurangabad-431005, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9226713799 (Customer Care) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
600 sq, ft. |
|
Location : |
Rented |
|
|
|
|
Factory : |
C 49, Near Vaishnavdevi Mandir, Waluj, Aurangabad, Maharashtra, India |
|
Area : |
7000 sq. ft. |
|
Location : |
Leased |
DIRECTORS
|
Name : |
Mr. Niraj Vishnu Bendale |
|
Designation : |
Director |
|
Address : |
Ward No.34, Mohalla Kastanbh, Vikaskhand, Burhanpur, Tahsil Burhanpur,
District Burhanpur-450331, Madhya Pradesh, India |
|
Date of Birth/Age : |
28.09.1976 |
|
Date of Appointment : |
16.04.2010 |
|
DIN No.: |
02987885 |
|
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 |
|
U52390MH2010PTC202080 |
Kite
sales and services private limited |
Director |
16-04-10 |
16-04-10 |
- |
Active |
NO |
|
Name : |
Mr. Prashant Sudhakar Sapkale |
|
Designation : |
Director |
|
Address : |
996-16-3, Shivaji Nagar, Faizpur, Taluka Yawal, District Jalgaon,
Faizpur-425503, Maharashtra, India |
|
Date of Birth/Age : |
22.02.1981 |
|
Date of Appointment : |
16.04.2010 |
|
DIN No.: |
02978544 |
|
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
U52390MH2010PTC202080 |
Kite
Sales and Services Private Limited |
Director |
16-04-10 |
16-04-10 |
Active |
NO |
|
U51900MH2010PTC207679 |
Rajanigandha
Multitrading Private Limited |
Additional
director |
25-10-10 |
25-10-10 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Vikas Oberoi |
|
Designation : |
Regional Business Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
|
Niraj Vishnu Bendale |
5000 |
|
Prashant Sudhakar Sapkale |
5000 |
|
|
|
|
Total |
10000 |
|
Category |
Percentage |
|
|
|
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of washing powder, detergent soaps, liquid hand wash and
bath soap. |
|
|
|
|
Terms : |
|
|
Purchasing : |
Credit (60 days) |
GENERAL INFORMATION
|
No. of Employees : |
29 (Approximately) |
|
|
|
|
Bankers : |
·
Bank of Maharashtra, City Branch, Suresh Bhavan,
4-4-91, Chauraha Road, Kirana Chawdi, Aurangabad-431001, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Available |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
The company will start doing business from 20th September,
2011.
LOCAL AGENCY FURTHER INFORMATION
Note : Registered Office
of the company has been shifted from Sushila Vatika, N-12, CIDCO, Near Hanuman
Mandir, Aurangabad-431005, Maharashtra, India to the present address w.e.f.
11.01.2011
FORM 8
|
Corporate
identity number of the company |
U52390MH2010PTC202080 |
|
Name of the
company |
EARN SALES AND
SERVICES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
F-5, Alanknanda Complex, Adalat Road, Near, Baba Petrol Pump,
Aurangabad-431005, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
Bank of Maharashtra, City Branch, Suresh Bhavan, 4-4-91, Chauraha
Road, Kirana Chawdi, Aurangabad-431001, Maharashtra, India |
|
Nature of
instrument creating charge |
1. Composite deed
of hypothecation for all facilities. 2. Sanction
Letter. (Both constitute
a single charge) |
|
Date of
instrument Creating the charge |
15.06.2011 |
|
Amount secured by
the charge |
Rs. 3.600
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Rate of interest will
be Base Rate plus 2.00 i.e. at present 10.00 + 2.00 = 12.00% p.a. on monthly
rests. Penal interest 2% Terms of repayment For T.L. repaid
within 60 months with the moratorium of 2 months. As per the
loaning documents executed by the Company with the bank from time to time. Margin For CC (W.C.) :-
25% on Stock and 40% on Receivables up to 90 days. For TL :- 25% on
Machines. Extent and operation of the charge The Bank had
Sanctioned C.C. (W.C.) Limit Rs.2.500 millions and T.L. Limits of Rs. 1.100 millions.
Total Banking Limits of Rs. 3.600 millions against the hypothecation of
Inventory of Stock and Receivables and Hypothecation of the Machines to be
purchased. All present and future Machineries, plants, goods, stock in raw
material, items, inventories, stock in process and book debts. Charge to
secure the due repayment of the limits and for all costs, interest and other
charges thereon. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
Inventory of Stock and Receivables. Hypothecation of
present and future Machineries, plants goods, stock in raw material, items,
inventories, stock in process, semi finished and finished goods, stores and
spares (Consumables Stores and Spares) Stock in trade,
goods in process, movables in transit and present and future tangible and
intangible assets, vehicles, goodwill, trademark, copyright, patent and all
the rights title and benefit of borrower All movables,
situated at or located at any place and now lying, being, affixed or
installed at any place at any time and all outstanding monies, claims, bills,
receivables, Book Debts. Hypothecation of
the Machines to be purchased. |
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. 47.80 |
|
|
1 |
Rs. 75.16 |
|
Euro |
1 |
Rs. 65.11 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
11 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.