MIRA
INFORM REPORT
|
Report Date : |
30.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
GUJARAT PEANUT PRODUTS PRIVATE LIMITED |
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Registered
Office : |
3, Padmanabh Chambers, Danapith, Rajkot-360001, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
14.10.2005 |
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Com. Reg. No.: |
04-046918 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Millions |
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CIN No.: [Company Identification
No.] |
U15490GJ2005PTC046918 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Company is engaged in the business of trading and exporting of
commodity products. |
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 : |
Unknown |
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Litigation : |
Clear |
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Comments : |
As per available details the company has no business activity in the
year 2009-10 due to ban on exporting of peanut by the government. Payments
are not known. The Company can be considered for business dealings on a 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 |
LOCATIONS
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Registered /Head Office : |
Sagar International, 3, Padmanabh Chambers, Danapith, Rajkot-360 001,
Gujarat, India |
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Tel. No.: |
91-281-2228262/2228013 |
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Fax No.: |
91-281-2223672 |
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Email .: |
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Factory : |
Gujarat Peanut Products Private Limited, Survey No. 155/1, Jamnagar
Road, Targhadi Village, Ta. Padadhari, Rajkot, Gujarat, India. |
DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Arun Natwarlal Chag |
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Designation : |
Director |
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Address : |
Vruj Bhumi, 2/25 Jankalyan Society, Rajkot-360005, Gujarat, India. |
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Date of Birth/Age : |
20.03.1954 |
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Date of Appointment : |
14.10.2005 |
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DIN No.: |
02190698 |
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 |
|
1 |
U15490GJ2005PTC046918 |
Gujarat
Peanut Products Private Limited |
Director |
14/10/2005 |
14/10/2005 |
- |
Active |
NO |
|
2 |
U15203RJ2011PTC036484 |
Aravally
Processed Agrotech Private Limited |
Director |
14/09/2011 |
14/09/2011 |
- |
Active |
NO |
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Name : |
Mr. Sagarkumar Arunbhai Chag |
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Designation : |
Director |
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Address : |
Vruj Bhumi, 2/25 Jankalyan Society, Rajkot-360005, Gujarat, India. |
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Date of Birth/Age : |
09.06.1977 |
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Date of Appointment : |
18.06.2008 |
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DIN No.: |
02192020 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Names of Shareholders |
No. of Shares |
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Arun Natwarlal Chag |
5000 |
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Sagarkumar Arunbhai Chag |
5000 |
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Total |
10000 |
Equity Share Breakup
AS ON 30.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Company is engaged in the business of trading and exporting of
commodity products. |
GENERAL INFORMATION
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Bankers : |
·
Bank of Baroda, 3rd Floor, BOB
Building, M. G. Road, Rajkot-360001, Gujarat, India |
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Facilities : |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Bhavesh M. Pabari Chartered Accountant |
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Address : |
303, Race Course Ring Road, Rajkot-360001, Gujarat, India |
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PAN. No.: |
AJCPP9506F |
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Mobile No.: |
91-9825033970 |
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E-Mail : |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 Millions |
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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
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.004 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.100 |
0.104 |
0.100 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
1.245 |
0.300 |
0.300 |
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TOTAL BORROWING |
1.245 |
0.300 |
0.300 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1.345 |
0.404 |
0.400 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.653 |
0.330 |
0.330 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
0.000
|
0.000 |
0.000 |
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Cash & Bank Balances |
0.149
|
0.031 |
0.024 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
0.000
|
0.411 |
0.000 |
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Total
Current Assets |
0.149
|
0.442 |
0.024 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.539
|
0.397 |
0.000 |
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Other Current Liabilities |
0.000
|
0.000 |
0.000 |
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Provisions |
0.007
|
0.007 |
0.000 |
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Total
Current Liabilities |
0.546
|
0.404 |
0.000 |
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Net Current Assets |
(0.397)
|
0.038 |
0.024 |
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MISCELLANEOUS EXPENSES |
0.089 |
0.036 |
0.046 |
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TOTAL |
1.345 |
0.404 |
0.400 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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0.000 |
0.442 |
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Other Income |
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0.000 |
NA |
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TOTAL |
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0.000 |
NA |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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0.004 |
NA |
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Depreciation |
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Financial Expenses |
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TOTAL |
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0.004 |
NA |
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PROFIT BEFORE
TAX (E-F) |
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(0.004) |
0.006 |
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Less |
TAX |
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0.004 |
0.002 |
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PROFIT AFTER TAX
(G-I) |
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0.000 |
0.004 |
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PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(0.004) |
0.004 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
1.36 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(0.22)
|
0.78 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
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(4.00)
|
5.77 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
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1791.00
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676.92 |
300.00 |
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Current Ratio (Current Asset/Current Liability) |
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27.29
|
109.40 |
0.00 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Registered office of the company has been shifted from 828, Star Chambers,
Harihar Chowk, Rajkot-30001, Gujarat, India to present address w. e. f.
29.05.2008.
OPERATION:
The Directors of the company report that the
company is engaged in the business of trading and exporting of commodity
products. Due on ban on exporting of
penut by government during the year under report, company could not made any
penut exports. The directors of the Company have took note of the same and
assures you that they will take necessary steps to improve financial position
of the company. The directors are hopeful of better financial results in the
years to come.
FORM 8
|
Corporate
identity number of the company |
U15490GJ2005PTC046918 |
|
Name of the
company |
GUJARAT PEANUT
PRODUCTS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
3, Padmanabh
Chambers, Danapith, Rajkot-360001, Gujarat, India |
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This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Floating charge Others |
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Particular of
charge holder |
Nationalised Bank Bank of Baroda 3rd
Floor, BOB Building, M. G. Road, Rajkot-360001, Gujarat, India |
|
Nature of
instrument creating charge |
·
Hypothecation
of Agreement ·
Instrument
relating to Deposit of Title Deeds |
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Date of
instrument Creating the charge |
13.06.2011 |
|
Amount secured by
the charge |
Rs.74.800 Million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest ·
Term
Loan: 4.50% above Base Rate i.e. 14.50% p.a. at present at monthly rests. ·
Cash
credit cum Packing Crdit: 4.00% above Base Rate i.e. 14.00% p.a. at presents
at monthly rests. Terms of repayment Terms Loan is to
be repaid in 60 monthly installments after completion of moratorium period of
6 months from the date of first disbursement. The Term loan is
to be repaid as under: ·
First
6 monthly installments will be Rs.0.413 Millions each =2.478 Millions ·
Next
53 monthly installments will be Rs.0.506 Millions each = 26.818 Millions ·
Last
60th installment will be of Rs. 0.504 Millions Cash Credit is
repayable on demand Margin ·
Term
Loan (Fresh): 39.68% on factory building and 25% on machinery and equipments.
Overall margin 29.335 ·
Foreign
Letter of Credit (DA up to 360 Days): DA L/C.: 25% Cash Margin at the time of
establishing LIC. ·
Cash
Credit cum packing Credit: 25% for RM, SIP, FG, Stores and Packing Materials
40% for Book Debts up to 90 days Extent and operation of the charge The Charge being
Hypothecation of movable assets and mortgage of immovable properties as
stated in Para no.15 operates as security for the repayment of aggregates
credit facilities Rs.74.800 Millions, as under, together with the interest,
costs, commission, charges, etc. Term Loan:
Rs.29.800 Million (Import L/C as sub limit of Rs.6.000 Million) Cash Credit:
Rs.45.000 Million Other As per documents
executed in favour of Bank |
|
Short particulars
of the property charged (Including location of the property) |
·
Hypothecation
of entire machineries, equipments, electrical installations, furniture and
fixtures, office equipments and other movables fixed assets of the company,
wherever located ·
Hypothecation
of entire raw materials, Stock-in-process, Stores and Spares, Packing Material,
Finished goods and book debts of the company both present and future,
wherever located. ·
EMG
of land admeasuring 3824-24 sq. meters. of R. S. No. 155 paiki 1/1 paiki 1 of
village Tarasghari, Tal. Padadhari, Dist. Rajkot along with the construction
made or to be made thereon |
FIXED ASSETS:
·
Land
·
Factory Building
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.48.92 |
|
|
1 |
Rs.76.52 |
|
Euro |
1 |
Rs.66.64 |
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.