|
Report Date : |
03.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
J K SALES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-121-B, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on)
: |
31.03.2008 |
|
|
|
|
Date of
Incorporation : |
02.02.2001 |
|
|
|
|
Com. Reg. No.: |
55-109479 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4.837 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL2001PTC109479 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Plywood’s. |
|
|
|
|
No. of Employees
: |
8 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Closed Operations |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Mr. Gurdeep Singh Sira, Director confirmed that due to health problem
he had stopped all operations of the subject company from the year 2008.
Payments are unknown. Initially, 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Gurdeep Singh Sira |
|
Designation : |
Director |
|
Contact No.: |
91-9811140975 |
|
Date : |
28.03.2012 |
LOCATIONS
|
Registered Office : |
B-121-B, |
|
Tel. No.: |
91-11-41420191/41420192/41420193/41420194 |
|
Mobile No.: |
91-9811140975(Mr. Gurdeep Singh Sira) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
180 Sq. Yard |
|
Location : |
Owned |
|
|
|
|
Warehouse : |
87/99, Village Mundka, |
DIRECTORS
As on 30.09.2008
|
Name : |
Mr. Gurdeep S Sira |
|
Designation : |
Director |
|
Address : |
B-121-B, |
|
Date of Birth/Age : |
13.07.1960 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
02.02.2001 |
|
|
|
|
Name : |
Mrs. Jasbir Kaur |
|
Designation : |
Director |
|
Address : |
B-121-B, |
|
Date of Birth/Age : |
06.10.1965 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
02.02.2001 |
KEY EXECUTIVES
|
Name : |
Mr. V S Tomar |
|
Designation : |
Accountant |
|
|
|
|
Name : |
Mr. Nityanand Singh |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2008
|
Names of Shareholders |
|
No. of Shares |
|
Gurdeep Singh Sira |
|
285403 |
|
Jasbir Kaur |
|
180773 |
|
Karta Gurdeep Singh Singh and Sons |
|
17500 |
|
Mahendra Kumar (Proprietor of Shivam Enterprises) |
|
10 |
|
Narendra Kumar (Proprietor of Satyam Enterprises) |
|
10 |
|
Purshottam Anand (Partner Vikas Enterprises) |
|
10 |
|
Jasbir Sing |
|
10 |
|
Dannder Kaur |
|
5 |
|
Maninder Singh |
|
5 |
|
Mahavir Tyaggi (Asian Sales India) |
|
5 |
|
Rakesh Aggarwal (Bhuvnesh Enterprises) |
|
5 |
|
Bharat Bhushan Suri (Jai Shree Trading) |
|
5 |
|
Sweta Aggarwal (Sweta Enterprises) |
|
5 |
|
Total |
|
483746 |
|
|
|
|
|
List Of
Allottees (As On 31.12.2008) |
|
|
|
|
|
|
|
Gurdeep Singh |
|
142000 |
|
Triyambakam Traders Private Limited |
|
357000 |
As on 30.09.2008
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
96.37 |
|
Other
top fifty shareholders |
|
3.63 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Plywood’s. |
|
|
|
|
Products : |
v
MDF And Particle Boards v
Sun Mica v
Timber v
Fabric |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
8 [Approximately] |
|
|
|
|
Bankers : |
v
Punjab And Sindh Bank, Kirti Nagar Branch, New
Delhi-110015, India v
State Bank of Bikaner and Jaipur, N-103, Kirti Nagar
Branch, New Delhi-110015, India v
ING Vysya Bank Limited, Kirti Nagar Branch, New
Delhi-110015, India v
Kotak Mahindra Bank, Mansarover Branch |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
S P Nagrath And Company Chartered Accountant |
|
Address : |
A-380, Defence Colony, New Delhi-110024, |
CAPITAL STRUCTURE
As on 31.03.2008
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
483746 |
Equity Shares |
Rs.10/- each |
Rs.4.837 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.837 |
4.837 |
4.837 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
8.707 |
5.748 |
4.009 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
13.546 |
10.585 |
8.846 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
87.515 |
84.359 |
40.057 |
|
|
2] Unsecured Loans |
66.518 |
5.847 |
7.892 |
|
|
TOTAL BORROWING |
154.033 |
90.206 |
47.949 |
|
|
DEFERRED TAX LIABILITIES |
0.007 |
0.030 |
0.038 |
|
|
|
|
|
|
|
|
TOTAL |
167.586 |
100.821 |
56.833 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.796 |
0.973 |
0.500 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
41.972
|
30.975 |
17.925 |
|
|
Sundry Debtors |
3.266
|
2.622 |
49.115 |
|
|
Cash & Bank Balances |
164.704
|
71.077 |
2.429 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
31.471
|
8.325 |
8.506 |
|
Total
Current Assets |
241.413
|
112.999 |
77.975 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
73.217
|
13.102 |
21.604 |
|
|
Provisions |
1.406
|
0.046 |
0.038 |
|
Total
Current Liabilities |
74.623
|
13.148 |
21.642 |
|
|
Net Current Assets |
166.790
|
99.848 |
56.333 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
167.586 |
100.821 |
56.833 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
411.403 |
285.166 |
220.183 |
|
|
Other Income |
0.083 |
1.025 |
0.352 |
|
|
Total Income |
411.486 |
286.191 |
220.535 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
4.345 |
2.812 |
4.682 |
|
|
Provision for Taxation |
1.384 |
1.073 |
1.623 |
|
|
Profit/(Loss) After Tax |
2.961 |
1.739 |
3.059 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Administrative Expenses |
7.883 |
7.587 |
4.556 |
|
|
Purchases made for re-sale |
397.479 |
281.126 |
217.574 |
|
|
Increase/(Decrease) in Finished Goods |
(10.997) |
(13.050) |
(10.622) |
|
|
Interest |
12.512 |
7.545 |
4.187 |
|
|
Depreciation & Amortization |
0.258 |
0.170 |
0.151 |
|
|
|
|
|
|
|
Earnings Per Share (Rs.) |
6.12 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
0.72
|
0.60 |
1.38 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.05
|
0.98 |
2.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.79
|
2.46 |
5.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.26 |
0.53 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
16.88
|
9.76 |
7.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.23
|
8.59 |
3.60 |
LOCAL AGENCY FURTHER INFORMATION
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Name of the
company |
J K Sales Private Limited |
|
Presented By |
ING Vysya Bank Limited and J K Sales
Private Limited |
|
1) Date and description of instrument creating the change |
Agreement for
hypothecation of stock in trade machinery book debts bills and all other
movable date 29.11.2003 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.11.000
Millions |
|
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 |
Hypothecation of stock
of wooden items timber products etc stored at registered office address from
time to time. Hypothecation of book debts of the company from time to time |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
First charge on above
assets is to secure the cash credit limit of Rs.11.000 millions sanctioned to
the company. Margin on stock 25% and book debts 40% other rates as may be
fixed by the bank from time to time. Within the cash credit limit of
Rs.11.000 millions company against book debts. |
|
5) Name and Address and description of the person entitled to the charge. |
ING Vysya Bank
Limited Kirti Nagar
Branch, |
|
This form is for |
Creation of
charge |
|
Charge
identification number of the modified |
-- |
|
Corporate
identity number of the company |
U74899DL2001PTC109479 |
|
Name of the
company |
J K Sales Private
Limited |
|
Address of the
registered office or of the principal place of business in |
B-121-B, |
|
Type of charge |
Book Debts Movable Property Current assets
and Movable Fixed Assets |
|
Particular of
charge holder |
Kotak Mahindra
Bank Limited 36-38A, Nariman
Bhavan, 227D, Nariman Point, Mumbai-400021, E-mail : john.ferndes@kotak.com |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
28.03.2009 |
|
Amount secured by
the charge |
Rs.90.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest Rate is
floating over the tenure of the facility. It is linked to kotak Mahindra
Bank’s Benchmark Prime Lending Rates. Terms of
Repayment Working capital
term loan : 1) Loan shall be repaid by way of 48EMIs starting from month
following the month of first disbursement of Term Loan 2) EMIs shall be
recovered by way of debts to current accountant of the borrower with the
bank or EMI’s shall be recovered by
banking PDCs on respectives due dates. Margin NIL Extent and
Operation of the charge First and
exclusive charge by way of hypothecation on the whole of the borrowers
current assets and movable fixed assets, both present and future in favour of
Kotak Mahindra Bank to secure the facilities granted by the bank to the
borrower Others NIL |
|
Short particulars
of the property charged |
The whole of borrower’s
current assets and movable fixed assets both present and future as described
in schedule to the deed of hypothecation |
FIXED ASSETS:
v Plant and Machinery
v Telefax Machinery
v Inverter
v Cellular Phone
v Coffee Machine
v Office Equipment
v EPBAX System
v Air Conditioners
v Computers
v Furniture And Fixture
v Vehicles
v Scooters
v Cars
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.51.15 |
|
|
1 |
Rs.81.80 |
|
Euro |
1 |
Rs.68.34 |
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.