MIRA
INFORM REPORT
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Report Date : |
26.09.2011 |
IDENTIFICATION DETAILS
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Name : |
NARIMAN ELECTRONICS PRIVATE LIMITED |
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Registered
Office : |
8th Floor, |
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Country : |
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Financials (as
on) : |
31.03.2008 |
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Date of
Incorporation : |
21.12.2000 |
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Com. Reg. No.: |
11-130154 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100
million |
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CIN No.: [Company Identification
No.] |
U32101MH2000PTC130154 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AGRN10336E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Electronic and Electrical Parts. |
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No. of Employees
: |
Not Available |
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 : |
No Business Activity |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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Comments : |
As claim by the management, there is no business activity in the
company since 2008. Payments are unknown. Initially, the company can be considered for business dealings on a
fully safe and 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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Sanap |
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Designation : |
Account Department |
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Date : |
24.09.2011 |
LOCATIONS
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Registered Office : |
8th Floor, |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory : |
Plot No.51, Sagar Industries, Anand Lerushiji Marg, Ahmednagar, |
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Tel. No.: |
91-241-2451785 |
DIRECTORS
As on 27.09.2010
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Name : |
Kuppuswami Sunderrajan Jahanmohan |
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Designation : |
Director |
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Address : |
Plot No. B-304, Videocon Complex, Station
Road, Near Dharmik Pariksha Board, Gangapur Gin Compound, Ahmednagar – 414
001, Maharashtra, India |
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Date of Birth/Age : |
04.05.1959 |
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Date of Appointment : |
21.12.2000 |
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DIN No.: |
02695174 |
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Name : |
Mr. Mukund Murlidhar Rajhans
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Designation : |
Director |
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Address : |
B. No. 14, Ajinkys Nagar, Savedi, Ahmednagar
– 414 001, |
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Date of Birth/Age : |
01.04.1960 |
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Date of Appointment : |
30.04.2003 |
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02492642 |
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Other Directorship :
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Name : |
Mr. Ajit Govindrao Shelke
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Designation : |
Director |
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Address : |
Plot No.3, Govind Niwas, Kedgaon Devi Road,
Ekata Colony, Near Modern Foundry, Ahmednagar – 414 001, Maharashtra, India |
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Date of Birth/Age : |
12.07.1962 |
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Date of Appointment : |
30.04.2003 |
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DIN No.: |
02686021 |
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KEY EXECUTIVES
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Name : |
Mr. Sanap |
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Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2010
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Names of Shareholders |
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No. of Shares |
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Kuppuswami Sunderrajan Jahanmohan |
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4000 |
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Rajhans Murlidhar Mukund |
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3000 |
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Shelke Govindrao Ajit |
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3000 |
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Total |
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10000 |
As on 27.09.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Electronic and Electrical Parts. |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
ICICI Bank
Limited, ICICI Bank Towers, Bandra Kurla Complex, Bandra (East), Mumbai – 400
051, Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
C.K. Patil and Company Chartered Accountants |
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Address : |
Plot No.18A, 1st Floor, Opposite Bhakti Bhavan, Sindhi
Society, Chembur, Mumbai – 400 071, |
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Income-tax
PAN of auditor or auditor's firm : |
AAAPP8109K |
CAPITAL STRUCTURE
As on 27.09.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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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
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SOURCES OF FUNDS |
|
31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money Pending Allotment |
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0.000 |
10.001 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
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(0.480) |
(0.447) |
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NETWORTH |
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(0.380) |
9.654 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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(0.380) |
9.654 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
0.000 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.006 |
0.006 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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0.000 |
10.735 |
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Cash & Bank Balances |
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1.014 |
0.032 |
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Other Current Assets |
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0.002 |
0.000 |
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Loans & Advances |
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0.000 |
10.100 |
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Total
Current Assets |
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1.016 |
20.867 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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0.000 |
0.000 |
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Other Current Liabilities |
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1.402 |
11.215 |
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Provisions |
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0.000 |
0.004 |
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Total
Current Liabilities |
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1.402 |
11.219 |
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Net Current Assets |
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(0.386) |
9.648 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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(0.380) |
9.654 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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INCOME |
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0.000 |
4.683 |
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PROFIT/ (LOSS) |
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(0.033) |
0.055 |
KEY RATIOS
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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Debt Equity Ratio (Total Liability/Networth) |
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(3.69) |
1.16 |
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Current Ratio (Current Asset/Current Liability) |
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0.72 |
1.86 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE:
During the year, the
Company earned Nil Income as against an Income of Rs.4.683 millions for the
previous year. The Loss for the current year amounted to Rs.0.033 million as
against a Profit of Rs.0.055 million for the previous year.
FORM 8:
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Name of the company |
NARIMAN ELECTRONICS PRIVATE LIMITED |
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Presented By |
K. Jahanmohan- Director |
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1) Date and description of instrument creating the change |
Loan Agreement
dated 26th Speptember, 2002 between the Company and ICICI Bank Limited
pursuant to the Resolution passed by the Company on the 25th day
of September, 2002 |
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2) Amount secured by the charge/amount owing on the securities of charge |
For RL Rupee Term Loan
of Rs.50.000 millions (hereinafter referred to as “the Facility”) |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
To be as per the
documentation |
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4) Gist of the terms and conditions and extent and operation of the charge. |
To be as per the
terms of the Loan Agreement. In consideration of ICICI Bank having agreed to
lend and advance to the Company the Facility, agreement and declaration by
the Company, inter alia, as follows: 1. Covenant by
the Company to repay the Facility and pay interest and all other monies in
the manner set out in the Facility Agreement dated 26.09.2002. Between the
Company and ICICI Bank and to comply with the terms and conditions of the
said Facility Agreement. 2 The said
(hereinafter referred to as “the said Facility Agreement”) Goods were thereby
hypothecated to ICICI Bank, as and by way of first charge as security for and
be charged with the repayment of the Facility with all interest, *(including
any increase as a result of devaluation/revaluation/ fluctuation in the rates
of exchange of the foreign currencies involved) liquidated damages,
commitment charge, premia on prepayment or on redemption, costs, charges and
expenses and all other monies payable by the Company to ICICI Bank in respect
thereof Provided that the charge of ICICI Sank on the said Goods will be
subject to the charge or charges created and/or to be created by the Company– i) in favour of
its bankers on its stocks of raw materials, semi-finished and finished goods,
consumable stores and book debts and such other moveables as may be agreed to
by ICICI Bank for securing the borrowings for working capital requirements in
the ordinary course of business; ii) on specific
items of machinery as permitted by ICICI Bank purchased and/or to be
purchased by the Company under the deferred payment facilities granted to the
Company by to the extent of Rs.50.000 millions. 3 The Company to
keep the said Goods in marketable and good condition and also insured as provided
therein. 4 Power of entry,
power to take charge and/or possession, of, seize, recover, receive, appoint
receivers of and remove and/or sale by public auction or private contract,
despatch for realisation or otherwise dispose off or deaf with all or any
part of the said Goods, etc. as provided therein. |
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5) Name and Address and description of the person entitled to the charge. |
ICICI Bank
Limited, ICICI Bank Towers, Bandra Kurla Complex, Bandra (East), Mumbai – 400
051, Maharashtra, India |
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6) Date and brief description of instrument modifying the charge |
NIL |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NIL |
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.49.67 |
|
|
1 |
Rs.76.50 |
|
Euro |
1 |
Rs.66.98 |
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.