|
Report Date : |
28.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
NITRAA FURNITURES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 315, |
|
|
|
|
Country : |
|
|
|
|
|
Date of
Incorporation : |
22.03.2011 |
|
|
|
|
Com. Reg. No.: |
079784 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36103TN2011PTC079784 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Furniture |
|
|
|
|
No. of Employees
: |
290 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Company |
|
|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new company and yet to established itself gradually. The
company has started it’s business activities from March 2012. It expects a good
turnover in it’s first year operations. Business is active. Payments 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
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. Arumugam Ramu |
|
Designation : |
Director |
|
Contact No.: |
91-9840877712 |
|
Date : |
27.04.2012 |
LOCATIONS
|
Registered Office / Factory : |
No. 315, G.S.T Road, Chrompet, Chennai-600004, Tamilnadu, India |
|
Tel. No.: |
91-44-42935150 |
|
Mobile No.: |
91-9840877712 (Mr. Arumugan) |
|
Fax No.: |
91-44-22252373 |
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E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
C-4, Phase 3, Industrial Estate, Ekkattuthangal, Chennai-600032,
Tamilnadu, India |
DIRECTORS
AS ON 18.03.2011
|
Name : |
Mr. Arumugam Ramu |
|
Designation : |
Director |
|
Address : |
Old No.97, New No.30, Deffence Officers, 1st Avenue,
Ekkatuthangal, Chennai-600097, Tamilnadu, India |
|
Date of Birth/Age : |
25.05.1971 |
|
Date of Appointment : |
22.03.2011 |
|
DIN No.: |
02170976 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U36101TN2002PTC049746 |
TRUTEK
PRODUCTS PRIVATE LIMITED |
Director |
17-10-02 |
17-10-02 |
Active |
NO |
|
2 |
U74900TN2010PTC077359 |
BUYERS
MEDIA COMMUNICATIONS PRIVATE LIMITED |
Director |
16-09-10 |
16-09-10 |
Active |
NO |
|
3 |
U36103TN2011PTC079784 |
NITRAA
FURNITURES PRIVATE LIMITED |
Director |
22-03-11 |
22-03-11 |
Active |
NO |
|
4 |
U45400TN2011PTC080038 |
NITRAA
BUILDERS PRIVATE LIMITED |
Director |
06-04-11 |
06-04-11 |
Active |
NO |
|
5 |
U36102TN2011PTC080554 |
WOODTHRUSH
CHENNAI PRIVATE LIMITED |
Director |
09-05-11 |
09-05-11 |
Active |
NO |
|
6 |
U36101TN2011PTC080911 |
WOODLIFE
FURNITURES PRIVATE LIMITED |
Director |
02-06-11 |
02-06-11 |
Active |
NO |
|
Name : |
Mrs. Janani Arumugam |
|
Designation : |
Director |
|
Address : |
118, Defense Officers Colony, Ekkattuthangal, Chennai-600097,
Tamilnadu, India |
|
Date of Birth/Age : |
06.04.2011 |
|
Date of Appointment : |
11.03.1980 |
|
DIN No.: |
01764181 |
Other Directorship:
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U29299TN2007PTC064835 |
YUVANA SOLUTIONS
PRIVATE LIMITED |
Director |
21-09-07 |
21-09-07 |
Active |
|
|
2 |
U36103TN2011PTC079784 |
NITRAA
FURNITURES PRIVATE LIMITED |
Director |
22-03-11 |
22-03-11 |
Active |
NO |
|
3 |
U45400TN2011PTC080038 |
NITRAA BUILDERS
PRIVATE LIMITED |
Director |
06-04-11 |
06-04-11 |
Active |
NO |
|
4 |
U36102TN2011PTC080554 |
WOODTHRUSH
CHENNAI PRIVATE LIMITED |
Director |
09-05-11 |
09-05-11 |
Active |
NO |
|
5 |
U36101TN2011PTC080911 |
WOODLIFE FURNITURES
PRIVATE LIMITED |
Director |
02-06-11 |
02-06-11 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 18.03.2011
|
Names of Shareholders |
No. of Shares |
|
Arumugam Ramu |
6000 |
|
|
4000 |
|
Total |
10000 |
AS ON 18.03.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Furniture |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
|
|
|
|
No. of Employees : |
290 (Approximately) |
|
|
|
|
Bankers : |
Punjab National Bank, 7 C L C Work Road, Sri Balaji College Hospital Campus
Chropet, Chennai-600044, Tamilnadu, India |
|
|
|
|
Facilities : |
Over Draft Limit Rs. 5.000 Millions Term Loan Limit Rs. 1.500 Millions |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mutraa and Associates Chartered Accountant |
|
Address : |
Chennai, Tamilnadu, India |
|
|
|
|
Sister Concern : |
·
Shiv Shakti Wood Work ·
Trutek Products Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
They started their
activities from March, 2012.
Expected Sales (2012-2013) : Rs. 280.000 Millions.
The above information has been parted by Mr. Arumugam Ramu.
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions 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 |
No |
|
12. Profitability for last three years |
No |
|
13. Reasons for variation <> 20% |
------- |
|
14. Estimation for coming financial year |
Yes |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
Yes |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
No |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
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 |
------- |
|
30. Major Shareholders, if available |
Yes |
FORM 8
|
Corporate
identity number of the company |
U36103TN2011PTC079784 |
|
Name of the company
|
NITRAA FURNITURES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
No. 315, G.S.T Road, Chroopet, Chennai-600004, Tamilnadu, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
Punjab National Bank, 7 C L C Work Road, Sri Balaji College Hospital
Campus Chropet, Chennai-600044, Tamilnadu, India |
|
Nature of instrument
creating charge |
1.Hypothecation
of Goods and Book Debts to Secure Cash Credit Facility 2.Letter of
Undertaking to Secure The CC Limit 3.Master
Undertaking From Cash Credit Borrowers 4.Hypothecation
of Assets to Secure Term Loans 5.Priority Sector
Term Loan Agreement |
|
Date of
instrument Creating the charge |
25.04.2011 |
|
Amount secured by
the charge |
RS. 7.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Term loan - 14.5 % p.a. Payable with monthly rest Cash credit
- 14.5 % p.a. Payable with monthly
rest Terms of repayment The cash credit
of Rs.6.300 Millions, sanctioned for the period of one year on renewal basis. The term loan of Rs.1.200
Millions to be repaid in 60 equal monthly installments, commencing august
2011. Margin Term loan -
25 % Cash credit
- 25 % for stocks and 50 % for book
debts Extent and operation of the charge The Charge
Operates As Security For The Due Repayment of Loan With Interest and Other
Charges, If any Stipulated By The Bank |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
Present and Future Stocks, Raw Materials, WIP, Finished Goods, Consumables,
Stores and Spares Brought In and/ or
Stored at Chennai Hypothecation of
Present and Future Book Debts, Outstanding Decrees, Money Receivables,
Claims, Securities, Government Subsidies, Investments, Rights And Other
Movables Assets Excluding Bills Purchased/Discounted
By The Bank and The Bills Against Which Advances Have Been Made All Assets And
Movable Properties of Any Kind Belonging to The Company |
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] 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. 52.68 |
|
|
1 |
Rs. 85.12 |
|
Euro |
1 |
Rs. 69.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
DPT |
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.