MIRA
INFORM REPORT
|
Report Date : |
19.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
BERKMANN WINE CELLARS INDIA PRIVATE LIMITED |
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Registered
Office : |
Office No.102, Hirani Villam |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
17.10.2007 |
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Com. Reg. No.: |
11-175127 |
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Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
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CIN No.: [Company Identification
No.] |
U52208MH2007PTC175127 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB17866C |
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PAN No.: [Permanent Account No.] |
AADCB2660B |
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Legal Form : |
Private Limited Liability Company
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Line of Business
: |
Importer of Wines |
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No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 12000 |
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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. The company
has been successful in wiping off the accumulated losses of the previous
year. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for small business dealings at usual
trade terms and condition. |
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. Shailesh |
|
Designation : |
Director |
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Contact No.: |
91-22-26186967 |
|
Date : |
18.04.2012 |
LOCATIONS
|
Registered Office : |
Office No.102, Hirani Villam |
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Tel. No.: |
91-22-28382555/ 28260376 |
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Fax No.: |
91-22-28260377 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Branches : |
Located at ·
·
·
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International Office: |
South West of
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DIRECTORS
(AS ON 22.09.2011)
|
Name : |
Mr. Dineshrai Kantilal Changela |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
09.04.1965 |
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Date of Appointment : |
28.11.2007 |
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DIN No.: |
01501231 |
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Name : |
Mr. Shailesh Kumar Balkrishnan |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
01.08.1954 |
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Date of Appointment : |
17.10.2007 |
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DIN No.: |
01284685 |
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|
|
Name : |
Mr. Farhad J. Bhabha |
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Designation : |
Director |
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Address : |
Flat No. 3, 3rd Floor, |
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Date of Birth/Age : |
14.12.1974 |
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Date of Appointment : |
12.07.2008 |
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DIN No.: |
02246630 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 22.09.2011)
|
Names of Shareholders |
|
No. of Shares |
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Dineshrai Kantilal Changela |
|
49990 |
|
Shailesh Kumar Balkrishnan |
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10 |
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Total |
|
50000 |
(AS ON 30.09.2011)
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Equity Share Breakup |
|
Percentage of Holding |
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Category |
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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 : |
Importer of Wines |
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Imports : |
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Products : |
Wines |
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Countries : |
·
·
·
·
·
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Berkmann Wine Cellars ·
·
· Pagenlam Pratt Wine Cellars · Metro Cargo Movers · Tejbh Andas Manoharlal · Tulsi Global Logistic Private Limited |
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Customers : |
End Users ·
Sagar Wines and Marketers ·
Vintage Wines Private Limited ·
Havinder and Company ·
Hyatt Regency, ·
My Own Space ·
S V Distributors Private Limited ·
Alfa Spice ·
Diva Restaurant ·
Hyatt Regency |
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No. of Employees : |
15 (Approximately) |
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Bankers : |
·
ICICI Bank, Santacruz, Mumbai, ·
Oriental Bank of Commerce Santacruz (West) Branch, Ajay Apartments, · IDBI Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
R D Medane and Associates Chartered Accountant |
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Address : |
A 403, Bhaveshwar Arcade, L. B. S. Marg, Ghatkopar, Mumbai-400086, |
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Tel. No.: |
91-22-25004839/ 25006410 |
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Income-tax
PAN of auditor or auditor's firm : |
AAFFR4331N |
CAPITAL STRUCTURE
(AS ON 22.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
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FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
0.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.402 |
2.000 |
0.504 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.902 |
2.500 |
1.004 |
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LOAN FUNDS |
|
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|
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1] Secured Loans |
0.473 |
0.776 |
1.043 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.435 |
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TOTAL BORROWING |
0.473 |
0.776 |
1.478 |
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DEFERRED TAX LIABILITIES |
0.064 |
0.086 |
0.086 |
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TOTAL |
3.439 |
3.362 |
2.568 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.808 |
3.170 |
3.706 |
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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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DEFERRED TAX ASSETS |
0.771 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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Inventories |
12.499
|
9.362 |
14.278 |
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Sundry Debtors |
25.901
|
14.802 |
8.804 |
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Cash & Bank Balances |
1.558
|
1.068 |
0.101 |
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Other Current Assets |
4.126
|
2.479 |
3.715 |
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Loans & Advances |
0.193
|
0.932 |
2.533 |
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Total
Current Assets |
44.277
|
28.643 |
29.431 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
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Sundry Creditors |
39.231
|
31.186 |
22.373 |
|
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Other Current Liabilities |
0.000
|
0.056 |
4.343 |
|
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Provisions |
5.200
|
3.151 |
3.894 |
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Total
Current Liabilities |
44.431
|
34.393 |
30.610 |
|
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Net Current Assets |
(0.154)
|
(5.749) |
(1.179) |
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MISCELLANEOUS EXPENSES |
0.014 |
5.941 |
0.041 |
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TOTAL |
3.439 |
3.362 |
2.568 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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|
|
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Income |
78.863 |
53.591 |
45.349 |
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Other Income |
1.376 |
1.296 |
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|
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TOTAL (A) |
80.239 |
54.887 |
45.349 |
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|
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|
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Less |
EXPENSES |
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|
|
|
|
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Cost of Goods Sold |
54.067 |
38.507 |
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Office Administrative Expenses |
18.508 |
19.226 |
|
|
|
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TOTAL (B) |
72.575 |
57.733 |
46.156 |
|
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|
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|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
7.664 |
(2.846) |
(0.807) |
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Less |
FINANCIAL
EXPENSES (D) |
0.547 |
0.560 |
0.356 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.117 |
(3.406) |
(1.163) |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.712 |
0.905 |
0.774 |
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PROFIT BEFORE
TAX (E-F) (G) |
6.405 |
(4.311) |
(1.937) |
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Less |
TAX (H) |
0.930 |
0.000 |
0.230 |
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PROFIT AFTER TAX
(G-H) (I) |
5.475 |
(4.311) |
(2.167) |
|
|
|
|
|
|
|
|
|
Less |
INCOME TAX W/F/
Deffered TAX |
(0.841) |
0.107 |
0.113 |
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(5.914) |
(1.496) |
0.784 |
|
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|
|
|
|
|
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BALANCE CARRIED
TO THE B/S |
0.402 |
(5.914) |
(1.496) |
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|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
109.50 |
-- |
-- |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
100.000 |
|
|
|
|
|
Expected Sales (2012-13): Rs.120.000 Millions
The above information has been parted by Mr. Shailesh.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.82
|
(7.85) |
(4.78) |
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Net Profit Margin (PBT/Sales) |
(%) |
8.12
|
(8.04) |
NA |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.60
|
(13.55) |
(5.85) |
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|
Return on Investment (ROI) (PBT/Networth) |
|
2.21
|
(1.72) |
(1.93) |
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|
|
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|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
15.47
|
14.07 |
31.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00
|
0.83 |
0.96 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
|
Particulars |
31.03.2011 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors |
39.231
|
31.186 |
22.373 |
|
|
|
|
|
|
Total |
39.231
|
31.186 |
22.373 |
Sundry Creditor (Partial Details)
|
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Berkmann Wine Cellars |
0.604 |
|
7.529 |
|
|
0.000 |
|
0.008 |
|
|
0.864 |
|
2.872 |
|
Pagenlam Pratt Wine Cellars |
0.00 |
|
8.343 |
|
Metro Cargo Movers |
0.556 |
Not Available |
0.263 |
|
Tejbh Andas Manoharlal |
0.000 |
|
0.107 |
|
Tulsi Global Logistic Private Limited |
0.188 |
|
1.258 |
|
Veritas Logistics Private Limited |
1.440 |
|
0.000 |
|
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 |
No |
|
5) Type of
Business |
Yes |
|
6) Line of
Business |
Yes |
|
7) Promoter’s
background |
Yes |
|
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% |
------ |
|
14) Estimation
for coming financial year |
Yes |
|
15) Capital in
the business |
Yes |
|
16) Details of
sister concerns |
No |
|
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 |
Yes |
|
29) Last accounts
filed at ROC |
Yes |
|
30) Major
Shareholders, if available |
Yes |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U52208MH2007PTC175127 |
|
Name of the
company |
BERKMANN WINE
CELLARS INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Office No. 102,
Hirani Villa, 45, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
·
Oriental Bank of Commerce Santacruz (West) Branch, Ajay Apartments, |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement of Term
Loan |
|
Date of
instrument Creating the charge |
20.08.2011 |
|
Amount secured by
the charge |
Rs.0.500 Million |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Int. @ 2.75% p.a
over base with a min. of 13.50% or such other rate as agreed between the
borrower and the bank from time to time. Penal int. @2% p.a over and above
the normal int. rate in case of default Terms of
Repayment Amount of
Installment - Rs.16,968 / - Due date of
Payment of 1st Installment - Next month from disbursement. Number and
Periodicity of Installments – 36 Margin Margin @ 15% or such
other rate as agreed between the borrower company and the bank from time to
time. Extent and
Operation of the charge At the request of
the borrower company, the bank has sanctioned Term Loan (Vehicle Loan) of
Rs.0.500 Million against Hypothecation of Vehicle i. e Mahindra Genio SC-2WD BS IV. |
|
Short particulars
of the property charged |
Hypothecation of
Vehicle i. e Mahindra Genio SC-2WD BS IV. |
TRADE REFERENCE:
·
Berkmann Wine Cellars
·
·
· Pagenlam Pratt Wine Cellars
· Metro Cargo Movers
·
Tejbh Andas Manoharlal
·
Tulsi Global Logistic
Private Limited
·
Sagar Wines and Marketers
·
Vintage Wines Private Limited
·
Havinder and Company
·
Hyatt Regency,
·
My Own Space
·
S V Distributors Private Limited
·
Alfa Spice
·
Diva Restaurant
·
Hyatt Regency
FIXED ASSETS
·
Computer and Printer
·
Fax Machine
·
Furniture and Fixture
·
Air Conditioner
·
Refrigerator
·
Motor Car
·
Office Equipment
·
Wine Display Rack
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.51.50 |
|
|
1 |
Rs.81.99 |
|
Euro |
1 |
Rs.67.54 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.