%20PRIVATE%20LIMITED%20-%20154426%2017-Sep-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
17.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
WOOD STAR (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
201, 202, 203 Pavan Plaza, Near Sardar Patel Stadium, Ahmedabad –
380051, Gujarat |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2010 |
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|
Date of
Incorporation : |
01.05.2001 |
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|
|
|
Com. Reg. No.: |
04-039485 |
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Paid-up Capital
: |
Rs. 17.000 Millions |
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|
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CIN No.: [Company Identification
No.] |
U20101GJ2001PTC039485 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of wooden flooring and importer of wood |
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|
|
|
No. of Employees
: |
80 (approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 130000 |
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|
|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for business dealings with some caution.
|
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
|
Name : |
Mr. M. J. Modh |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-8980007302 |
|
Date : |
16.09.2011 |
LOCATIONS
|
Registered Office : |
201, 202, 203 Pavan Plaza, Near Sardar Patel Stadium, Ahmedabad –
380051, Gujarat, India |
|
Tel. No.: |
91-79-27682720/27682718 |
|
Mobile No.: |
91-8980007302 (Mr. M. J. Modh) |
|
Fax No.: |
91-79-66622270 |
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E-Mail : |
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|
Website : |
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|
Area : |
2500 sq.ft (approximately) |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Survey 258, Vasodara, Taluka Sanand, District Ahmedabad – 382120, Gujarat,
India |
|
Area : |
90000 sq.yard |
|
Location : |
Owned |
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|
|
|
Factory 2 : |
Plot No. 102, G.I.D.C. Phase II, Limbdi, District Surendranagar –
363421, Gujarat, India |
|
Tel. No.: |
91-2753-260793 |
DIRECTORS
As On 30.09.2010
|
Name : |
Mr. Rohit B. Patel |
|
Designation : |
Director |
|
Address : |
6, Achalayatan Society, Near Memnagar Fire Station, Navrangpura,
Ahmedabad – 380009, Gujarat, India |
|
Date of Birth/Age : |
02.03.1964 |
|
Date of Appointment : |
01.05.2001 |
|
DIN No.: |
00245569 |
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 |
U20101GJ2001PTC039485 |
Wood
Star (India) Private Limited |
Director |
1.05.2001 |
1.05.2001 |
Active |
NO |
|
Name : |
Mrs. Dipti Rohit Patel |
|
Designation : |
Director |
|
Address : |
6, Achalayatan Society, Near Memnagar Fire Station, Navrangpura, Ahmedabad
– 380009, Gujarat, India |
|
Date of Birth/Age : |
13.12.1964 |
|
Date of Appointment : |
01.05.2001 |
|
DIN No.: |
02406328 |
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 |
U20101GJ2001PTC039485 |
Wood
Star (India) Private Limited |
Director |
1.05.2001 |
1.05.2001 |
Active |
NO |
|
Name : |
Mr. Bhupesh Babubhai Patel |
|
Designation : |
Director |
|
Address : |
1, Everbela Co-operative Housing Society, Near Ankur Bus Stop,
Naranpura, Ahmedabad – 380013, Gujarat, India |
|
Date of Birth/Age : |
03.12.1964 |
|
Date of Appointment : |
05.07.2006 |
|
DIN No.: |
00451572 |
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 |
U20101GJ2001PTC039485 |
Wood
Star (India) Private Limited |
Director |
5.07.2006 |
5.07.2006 |
Active |
NO |
|
Name : |
Mr. Sanjay Babubhai Patel |
|
Designation : |
Director |
|
Address : |
A-8, Sagar Cooperative Society, Sur Sagar Tower, Ghatlodia, Ahmedabad
– 380061, Gujarat, India |
|
Date of Birth/Age : |
12.09.1966 |
|
Date of Appointment : |
05.07.2006 |
|
DIN No.: |
00451726 |
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 |
U20101GJ2001PTC039485 |
Wood
Star (India) Private Limited |
Director |
5.07.2006 |
5.07.2006 |
Active |
NO |
|
Name : |
Mr. Bhupesh Babulal Patel |
|
Designation : |
Director |
|
Address : |
1 Eurbela Cooperative Housing Society Limited, Near Ankur Bus Stop,
Narnapura, Ahmedabad – 380013, Gujarat, India |
|
Date of Birth/Age : |
03.12.1964 |
|
Date of Appointment : |
05.07.2006 |
|
DIN No.: |
00451572 |
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 |
U20101GJ2001PTC039485 |
Wood
Star (India) Private Limited |
Director |
5.07.2006 |
5.07.2006 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. M. J. Modh |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Patel B. Rohit |
|
889000 |
|
Patel R. Dipti |
|
340200 |
|
Sarnar Tech Inc. |
|
470800 |
|
Total |
|
1700000 |
As On 30.09.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
27.69 |
|
Directors or relatives of Directors |
72.31 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of wooden flooring and importer of wood |
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Products : |
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Exports : |
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Products : |
·
Wooden Flooring |
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Countries : |
·
Israel ·
UK ·
Belgium ·
USA |
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Imports : |
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Products : |
·
Woods |
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Countries : |
·
Tanzania ·
Congo ·
Burma |
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Terms : |
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Selling : |
Credit: 180 Days |
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Purchasing : |
L/C, Credit |
GENERAL INFORMATION
|
Suppliers : |
Main Suppliers ·
SS Exports, Burma ·
Goushi Kaisha Shivah Sawa Shoji, Japan |
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Customers : |
·
Wholesalers ·
Dealer Main Customers ·
Sirnar Builders, Ahmedabad ·
Adani Exports |
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No. of Employees : |
80 (approximately) |
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Bankers : |
·
Bank of Baroda – Bhadra Branch, Opposite Dinbai
Tower, Lal Darwaja, Ahmedabad - 380001, Gujarat, India ·
Dena Bank – Ambawadi (Nehru Nagar) Branch, Arbuda
Apartment, Nehru Nagar Circle, Ahmedabad – 380015, Gujarat, India |
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Facilities : |
Total Facility: Rs. 420.000 Millions
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Dharmesh Parikh and Company Chartered Accountant |
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Address : |
303/304, Milestone, Near Drive-In, Cinema, Opposite T.V. Tower,
Thaltej, Ahmedabad – 380054, Gujarat, India |
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Tel. No.: |
91-79-27474466 |
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Fax No.: |
91-79-27479955 |
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Pan No.: |
AAGFD1279G |
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Associates : |
·
Timsy Traders ·
Star Enterprise and Industries |
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 Millions |
|
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1700000 |
Equity Shares |
Rs. 10/- each |
Rs. 17.000
Millions |
|
|
|
|
|
After 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2320000 |
Equity Shares |
Rs. 10/- each |
Rs. 23.200 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2157500 |
Equity Shares |
Rs. 10/- each |
Rs. 21.575
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 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
17.000 |
15.000 |
15.000 |
|
|
2] Share Application Money |
0.297 |
0.056 |
0.000 |
|
|
3] Reserves & Surplus |
17.399 |
1.627 |
0.321 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
34.696 |
16.683 |
15.321 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
74.991 |
52.276 |
35.277 |
|
|
2] Unsecured Loans |
9.155 |
20.550 |
9.779 |
|
|
TOTAL BORROWING |
84.146 |
72.826 |
45.056 |
|
|
DEFERRED TAX LIABILITIES |
0.037 |
0.025 |
0.022 |
|
|
|
|
|
|
|
|
TOTAL |
118.879 |
89.534 |
60.399 |
|
|
|
|
|
|
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|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
35.056 |
0.841 |
0.869 |
|
|
Capital work-in-progress |
6.212 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.988 |
0.988 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
96.325
|
77.110 |
55.974 |
|
|
Sundry Debtors |
18.112
|
42.852 |
52.043 |
|
|
Cash & Bank Balances |
0.799
|
0.632 |
1.861 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.435
|
0.665 |
0.533 |
|
Total
Current Assets |
116.671
|
121.259 |
110.411 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
36.355 |
32.164 |
50.712 |
|
|
Other Current Liabilities |
0.894
|
0.183 |
0.611 |
|
|
Provisions |
1.811
|
1.207 |
0.496 |
|
Total
Current Liabilities |
39.060
|
33.554 |
51.869 |
|
|
Net Current Assets |
77.611
|
87.705 |
58.542 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
118.879 |
89.534 |
60.399 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
184.644 |
110.794 |
94.666 |
|
|
|
Other Income |
0.071 |
0.530 |
0.902 |
|
|
|
TOTAL (A) |
184.715 |
111.324 |
95.568 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials |
170.281 |
97.911 |
89.015 |
|
|
|
Personnel Expenses |
0.875 |
0.366 |
0.297 |
|
|
|
Administrative, Selling and other Expenses |
1.716 |
2.208 |
1.842 |
|
|
|
Preliminary Expenses Written Off |
0.000 |
0.000 |
0.050 |
|
|
|
TOTAL (B) |
172.872 |
100.485 |
91.204 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
11.843 |
10.839 |
4.364 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.945 |
8.680 |
3.823 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.898 |
2.159 |
0.541 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.136 |
0.139 |
0.151 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.762 |
2.020 |
0.390 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.990 |
0.714 |
0.195 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
1.772 |
1.306 |
0.195 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.627 |
0.321 |
0.526 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
3.399 |
1.627 |
0.721 |
|
|
|
|
|
|
|
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IMPORTS |
|
|
|
|
|
|
|
Purchase of Goods |
0.000 |
9.821 |
21.617 |
|
|
TOTAL IMPORTS |
0.000 |
9.821 |
21.617 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
1.18 |
0.87 |
0.14 |
|
|
|
- Diluted |
1.18 |
0.87 |
0.14 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (approximately) |
|
|
360.000 |
|
|
|
|
|
Expected Sales (2011-12) : Rs. 600.000 Millions
The above information has been parted by Mr. M. J. Modh (Chief
Executive Officer)
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.96
|
1.17 |
0.20 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.50
|
1.82 |
0.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.82
|
1.65 |
0.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.12 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.55
|
6.38 |
6.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.99
|
3.61 |
2.13 |
LOCAL AGENCY FURTHER INFORMATION
The Details of
Sundry Creditors:
Rs.
In Millions
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
36.355 |
32.164 |
50.712 |
|
Check List by
Info Agents |
Available in
Report (Yes/No) |
|
1)
Year of Establishment |
Yes |
|
2)
Locality of the firm |
Yes |
|
3)
Constitutions of the firm |
Yes |
|
4)
Premises Details |
Yes |
|
5)
Type of Business |
Yes |
|
6)
Line of Business |
Yes |
|
7)
Promoter’s Background |
No |
|
8)
No. of Employees |
Yes |
|
9)
Name of person contacted |
Yes |
|
10)
Designation of contact person |
Yes |
|
11)
Turnover of firm for last three years |
Yes |
|
12)
Profitability for last three years |
Yes |
|
13)
Reasons for variation <> 20% |
No |
|
14)
Estimation for coming financial year |
Yes |
|
15)
Capital in the business |
-- |
|
16)
Details of sister concerns |
Yes |
|
17)
Major suppliers |
Yes |
|
18)
Major customers |
Yes |
|
19)
Payments terms |
Yes |
|
20)
Export / Import details (if applicable) |
Yes |
|
21)
Market information |
-- |
|
22)
Litigations that the firm/promoter involved in |
-- |
|
23)
Banking details |
Yes |
|
24)
Banking facility details |
Yes |
|
25)
Conduct of the banking account |
-- |
|
26)
Buyer visit details |
-- |
|
27)
Financials, if provided |
Yes |
|
28)
Incorporation details, if applicable |
-- |
|
29)
Last accounts filed at ROC |
-- |
|
30)
Major shareholders, if available |
-- |
Form 8:
|
Corporate identity number of the company |
U20101GJ2001PTC039485 |
||||||
|
Name of the company |
WOOD STAR (INDIA) PRIVATE LIMITED |
||||||
|
Address of the registered office or of the
principal place of business in |
201 202 203 Pavan Plazanr Sardar
Patel Stadium, Ahmedabad - 380051, Gujarat, India |
||||||
|
This form is for |
Creation of charge |
||||||
|
Type of charge |
Immovable Property Hypothecon of moveable machinery |
||||||
|
Particular of charge holder |
|
||||||
|
Nature of instrument creating charge |
Instrument Of Hypothecation Of Moveable
Machinery Dated 29.04.2011 For Rs.125.000 Millions And Indenture Of Mortgage (Legal Mortgage Instrument) Dated
29.04.2011 To Secure Credit Facilities
Of Rs. 125.000 Millions. Granted By Bank Of Baroda To M/S Timsy Traders |
||||||
|
Date of instrument Creating the charge |
29.04.2011 |
||||||
|
Amount secured by the charge |
Rs. 125.000 Millions |
||||||
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest - As the Interest is
payable by M/S Timsy Traders, not applicable to Company. Terms of Repayment - As the Interest is payable
by M/S Timsy Traders, not applicable to Company. Extent and Operation of the charge -
Charge over machinery and immovable property extended to secure credit
facilities of Rs.125.000 millions availed by M/s Timsy Traders. |
||||||
|
Particulars of the property charged |
All Plant and Machinery of the company
present and future. Factory land Building of the company at
Survey No.258/2,260,261/paiki,279,258/1,259,261/paiki,263, at Mouje:
Vasodara, Taluka-Sanand Distt. Ahmedabad. More details as per Indenture of
mortgage attached |
Fixed Assets:
·
Plant and machinery
·
Computer
·
Forklift
·
Furniture and fittings
·
Office equipments
·
Telephone instruments
·
T.V
·
Land
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.47.47 |
|
|
1 |
Rs.74.96 |
|
Euro |
1 |
Rs.65.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
YES |
|
--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 |
|
29 |
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.