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MIRA
INFORM REPORT
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Report Date : |
21.09.2011 |
IDENTIFICATION DETAILS
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Name : |
SOURCE EXIM ( |
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Registered
Office : |
303, 3RD Floor, Veena Vihar, |
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Country : |
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Date of
Incorporation : |
28.01.2010 |
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Com. Reg. No.: |
199430 |
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Capital
Investment/ Paid-up Capital: |
Rs. 9.000 Millions |
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CIN No.: [Company Identification
No.] |
U74900MH2010PTC199430 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Exporter of Textile Machinery, Textile Machinery parts like Steel Ring,
Bobbin Hanger, Spindle Tape, Blower Tape, Timming Belts, etc. |
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No. of Employees
: |
Not Divulged by the Management |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject has been takenover the running business of source Enterprises,
erstwhile a proprietory concern. It is a company having moderate track. The
Director Mr. Nandkumar denied to disclose any information about the company.
Payment terms 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.
INFORMATION DECLINED BY
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Name : |
Mr. Nandkumar Kallampad Melarcode |
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Designation : |
Director |
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Contact No.: |
91-9820212428 |
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Date : |
20.09.2011 |
LOCATIONS
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Registered Office : |
303, 3RD Floor, Veena Vihar, |
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Tel No: |
Not Available |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Nandkumar Kallampad Melarcode |
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Designation : |
Managing Director |
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Address : |
303, 3RD Floor, Veena Vihar, |
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Date of Birth/Age : |
25.11.1956 |
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DIN No: |
02585421 |
Other Directorship:
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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 |
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1 |
U74900MH2010PTC199430 |
SOURCE EXIM ( |
Managing director |
28-01-10 |
28-01-10 |
- |
Active |
NO |
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2 |
U74990MH2009PTC194307 |
LeadingEdgeValue Services Private Limited |
Director |
05-02-10 |
05-02-10 |
- |
Active |
NO |
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3 |
U74900MH2010PTC208325 |
SUN OUTDOOR MEDIA PRIVATE LIMITED |
Director |
27-09-10 |
27-09-10 |
- |
Active |
NO |
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Name : |
Mr. Kiran Nandkumar Varma |
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Designation : |
Director |
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Address : |
303, 3RD Floor, Veena Vihar, |
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Date of Birth/Age : |
10.08.1990 |
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DIN No: |
02566473 |
Other Directorship:
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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 |
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1 |
U74900MH2010PTC199430 |
SOURCE EXIM ( |
Director |
28-01-10 |
28-01-10 |
- |
Active |
NO |
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2 |
U74900MH2010PTC208325 |
SUN OUTDOOR MEDIA PRIVATE LIMITED |
Director |
27-09-10 |
27-09-10 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Nandkumar Kallampad Melarcode |
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800000 |
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Kiran Nandkumar Varma |
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100000 |
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Total |
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900000 |
BUSINESS DETAILS
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Line of Business : |
Exporter of Textile Machinery, Textile Machinery parts like Steel
Ring, Bobbin Hanger, Spindle Tape, Blower Tape, Timming Belts, etc. |
GENERAL INFORMATION
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No. of Employees : |
Not Divulged by the Management |
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Bankers : |
State Bank of |
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Banking
Relations : |
-- |
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Auditor: |
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Name: |
Not Divulged |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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900000 |
Equity Shares |
Rs. 10/-
each |
Rs. 9.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Divulged
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The Registered Office of the company has been shifted To 303, 3RD
Floor, Veena Vihar, 17 A Flank Road, Sion (East), Mumbai – 400022, Maharashtra,
India From Old address.
FORM 8:
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Corporate
identity number of the company |
U74900MH2010PTC199430 |
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Name of the
company |
SOURCE EXIM ( |
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Address of the
registered office or of the principal place of business in |
303, 3RD Floor, Veena Vihar, Email: mknand@rediffmail.com |
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This form is for |
Creation of Charge |
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Charge
identification number of the modified |
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Type of charge |
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Particular of
charge holder |
State Bank of Email: info@ca-adlalwani.com |
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Nature of
instrument creating charge |
(All the above
Agreement constitute a single charge) |
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Date of instrument
Creating the charge |
20.03.2010 |
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Amount secured by
the charge |
Rs.115.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: As stipulated by
bank from time to time Terms of Repayment: As stipulated by
bank from time to time Margin: As stipulated by
bank from time to time Extent and
operation of the charge: First Charge
(present and future on all securities) Total limit Rs. 115.000 Million (EPC/EBP/EBN(DA/DP)
Rs. 65.000 Million W.C.T.L Rs 45.000 Million) L.C/ B.G Rs. 05.000 Million) Others: As stipulated by
bank from time to time and as per agreement attached and as per sanction
letter of the bank. |
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Short Particulars
of the property or assets charged |
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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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.79 |
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|
1 |
Rs.75.05 |
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Euro |
1 |
Rs.65.35 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.