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MIRA
INFORM REPORT
|
Report Date : |
17.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
MAHAVIRA TENTS (INDIA) PRIVATE LIMITED |
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Registered
Office : |
206, Surya Niketan, Delhi 110092 |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
08.10.2003 |
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Com. Reg. No.: |
122542 |
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Capital
Investment / Paid-up Capital : |
Rs.0.900 million |
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CIN No.: [Company Identification
No.] |
U74899DL2003PTC122542 |
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|
Legal Form : |
Private Limited Liability Company
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Line of Business
: |
Manufacturer and Exporter of Tents and Tents House Items |
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No. of Employees
: |
15 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 9560 |
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|
Status : |
Small Company |
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|
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. Its scale of activities are
limited. 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
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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
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 |
INFORMATION PARTED BY
|
Name : |
Mr. Nitin |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9910456659 |
|
Date : |
14.09.2011 |
LOCATIONS
|
Registered Office : |
206, Surya Niketan, Delhi 110092, India |
|
Mobile No.: |
91-9910456659 (Mr. Nitin) |
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E-Mail : |
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Website : |
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Corporate Office / Factory : |
15/14 Site -4, Sahibabad Industrial Area, Ghaziabad 201001, Uttar
Pradesh, India |
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Tel. No.: |
91-120-2778567 / 2778566 |
|
Area : |
940 sq.mtr |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Mohit Jain |
|
Designation : |
Director |
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Date of Birth/Age : |
03.05.1983 |
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Qualification : |
B.Com |
|
Date of Appointment : |
16.08.2006 |
|
DIN No.: |
01548358 |
|
Name : |
Mr. Pradeep Jain |
|
Designation : |
Director |
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Date of Birth/Age : |
01.01.1959 |
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Qualification : |
SSC |
|
Date of Appointment : |
08.10.2003 |
|
DIN No.: |
00100702 |
|
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 |
U74899DL2003PTC122542
|
Mahavira Tents
(India) Private Limited |
Director |
08/10/2003 |
08/10/2003 |
- |
Active |
NO |
|
2 |
U70101DL2004PTC128087
|
Shubham Projects
Private Limited |
Director |
04/08/2004 |
04/08/2004 |
- |
Active |
NO |
|
3 |
U52341DL2004PTC130291
|
Veetrag Constructions
Private Limited |
Director |
18/04/2005 |
18/04/2005 |
- |
Active |
|
|
4 |
U67200RJ2003PTC018693
|
Ajay Finetech
Developers Private Limited |
Director |
24/06/2005 |
24/06/2005 |
03/09/2007 |
Active |
NO |
|
5 |
U74899DL1995PTC065762
|
Varuna Finance
Private Limited |
Director |
04/04/2006 |
04/04/2006 |
04/06/2008 |
Active |
|
|
6 |
U70101DL2006PTC148841
|
Sanjeevani
Buildwell Private Limited. |
Director |
26/05/2006 |
26/05/2006 |
- |
Active |
|
|
7 |
U74140DL1999PTC102543
|
Pjs Projects
Private Limited |
Director |
25/08/2006 |
25/08/2006 |
- |
Active |
|
|
8 |
U72200DL2006PTC150536
|
Achates Infocom
Private Limited |
Director |
10/10/2006 |
10/10/2006 |
- |
Active |
|
|
9 |
U70109DL2006PTC155639
|
Shweta Buildwell
Private Limited |
Director |
17/11/2006 |
17/11/2006 |
- |
Active |
|
|
10 |
U74900DL2008PTC181163
|
Radical Corporate
Offices Private Limited |
Additional director
|
01/11/2008 |
01/11/2008 |
- |
Active |
|
Name : |
Mr. Yogesh Jain |
|
Designation : |
Director |
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Date of Birth/Age : |
08.06.1956 |
|
Qualification : |
Graduate |
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Date of Appointment : |
08.10.2003 |
|
DIN No.: |
01545130 |
|
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 |
U74899DL1992PTC050583
|
Shri Mahavira Tyre
Agencies Private Limited |
Director |
12/12/1992 |
12/12/1992 |
- |
Active |
NO |
|
2 |
U74899DL2003PTC122542
|
Mahavira Tents
(India) Private Limited |
Director |
08/10/2003 |
08/10/2003 |
- |
Active |
NO |
|
3 |
U70109DL2006PTC155639
|
Shweta Buildwell
Private Limited |
Director |
17/11/2006 |
17/11/2006 |
02/11/2009 |
Active |
KEY EXECUTIVES
|
Name : |
Mr. Nitin |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Shubham Projects Private Limited, Muzaffar Nagar, Uttar Pradesh |
80000 |
|
Mr. Pradeep Jain |
5000 |
|
Mr. Yogesh Jain |
5000 |
|
Total |
90000 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
88.89 |
|
Directors or relatives of directors |
|
11.11 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Tents and Tents House Items |
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Products : |
·
Exhibition Tents ·
Resort Tents ·
Jungle Safari Tents ·
Luxury Swiss Cottages ·
Marquee ·
Pergola ·
Camp Tent ·
Mosquito Net ·
Army Tent ·
Maharaja Tent ·
Troop Tent ·
Resorts Tents ·
School Tents ·
Hospital Tents ·
Sleeping Bags |
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Exports : |
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Products : |
Tents and Tents House Items |
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Countries : |
UK, France, Kenya |
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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
|
Customers : |
·
Wholesaler ·
Retailers |
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No. of Employees : |
15 Approximately |
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Bankers : |
IDBI Bank, Delhi 110092, India |
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Facilities : |
Rs. In Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Dinesh Jain and Associates Chartered Accountant |
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Address : |
Ghaziabad, Uttar Pradesh |
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|
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|
Name : |
Shailendra K Jain and Associates Chartered Accountant |
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Address : |
108, PH Complex, 65 Vijay Block, Laxmi Nagar, Delhi 110092, India |
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Sister Concern : |
Shubham Projects |
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs. 10 each |
Rs. 1.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000 |
Equity Shares |
Rs. 10 each |
Rs.0.900 million |
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 |
0.900 |
0.900 |
0.900 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.490 |
1.462 |
1.408 |
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|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
2.390 |
2.362 |
2.308 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.592 |
0.592 |
1.092 |
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TOTAL BORROWING |
0.592 |
0.592 |
1.092 |
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DEFERRED TAX LIABILITIES |
0.009 |
0.012 |
0.005 |
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TOTAL |
2.991 |
2.966 |
3.405 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.927 |
3.156 |
2.997 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.210 |
0.210 |
0.210 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
1.421
|
0.340 |
0.098 |
|
|
Sundry Debtors |
0.395 |
0.327 |
0.033 |
|
|
Cash & Bank Balances |
0.410
|
0.886 |
0.793 |
|
|
Other Current Assets |
0.047
|
0.076 |
0.080 |
|
|
Loans & Advances |
1.375
|
0.075 |
0.079 |
|
Total
Current Assets |
3.648
|
1.704 |
1.083 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2.296
|
0.768 |
0.492 |
|
|
Other Current Liabilities |
1.482
|
1.308 |
0.385 |
|
|
Provisions |
0.016
|
0.028 |
0.037 |
|
Total
Current Liabilities |
3.794
|
2.104 |
0.914 |
|
|
Net Current Assets |
(0.146)
|
(0.400) |
0.169 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.029 |
|
|
|
|
|
|
|
|
TOTAL |
2.991 |
2.966 |
3.405 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
SALES |
6.725 |
10.190 |
6.026 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.042 |
0.088 |
0.085 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.83
|
1.14 |
0.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.96
|
0.80 |
1.18 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL HIGHLIGHTS :
During the period under review, the gross turnover of the company were
Rs. 6.725 millions and earned Net Profit before Tax Rs 0.042 million as against
gross receipt of Rs. 10.190 millions and Net Profit before Tax Rs. 0.088
million in the previous year ending on 31/03/2009.
TRADE REFERENCE:
·
Tripal Udyog
FIXED ASSETS:
·
Land
·
Factory Building
·
Vehicle
·
Computer
·
Office Equipment
·
Mobile Phone
·
Plant and Machinery
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.47.46 |
|
|
1 |
Rs.74.96 |
|
Euro |
1 |
Rs.65.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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 |
|
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.