|
Report Date : |
10.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
G. T. FRUITECH PRIVATE LIMITED (w.e.f. 24.07.2009) |
|
|
|
|
Formerly Known
As : |
PIONEER WEBTECH PRIVATE LIMITED (w.e.f. 09.01.2009) CARAMEL FOODS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D-1A, Mahendru Enclave, G. T. Karnal Road, Delhi – 110033 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
29.11.2007 |
|
|
|
|
Com. Reg. No.: |
55-170895 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.501 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140DL2007PTC170895 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
DELG12529G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCC2846A |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Importing and Distributing of Fresh Fruits. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 5600 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Profitability
of the company appears to be low. However, trade relations are reported to be
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealing with some caution. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
D-1A, Mahendru Enclave, G. T. Karnal Road, Delhi – 110033, India |
|
Tel. No.: |
91-11-27416167 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office
: |
B-153, New Fruit Market, Azadpur, New Delhi – 110033, India |
|
Tel No.: |
91-11-27677222/ 333/ 444 |
|
Email : |
|
|
|
|
|
Branch Office : |
J403, APMC Fruit Market, Vashi, Navi Mumbai – 400703, Maharashtra,
India |
DIRECTORS
(AS ON 27.09.2011)
|
Name : |
Mr. Hari Chand Gidwani |
|
Designation : |
Director |
|
Address : |
BW-37B, Shalimar Bagh, Delhi – 110088, India |
|
Date of Birth/Age : |
09.06.1952 |
|
Date of Appointment : |
29.11.2007 |
|
DIN No.: |
01887944 |
|
|
|
|
Name : |
Mr. Dharam Das |
|
Designation : |
Director |
|
Address : |
D-1/A, Mahendry Enclave, GTK Road, Delhi – 110033, India |
|
Date of Birth/Age : |
20.04.1957 |
|
Date of Appointment : |
29.11.2007 |
|
DIN No.: |
01892895 |
|
|
|
|
Name : |
Mr. Shri Chand Gidwani |
|
Designation : |
Director |
|
Address : |
D-1/A, Mahendry Enclave, GTK Road, Delhi – 110033, India |
|
Date of Birth/Age : |
28.01.1955 |
|
Date of Appointment : |
29.11.2007 |
|
DIN No.: |
01887953 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 27.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Hari Chand Gidwani |
|
5000 |
|
Shri Chand Gidwani |
|
5000 |
|
Dharam Das |
|
5000 |
|
Heman Gidwani |
|
5000 |
|
Harichnd Gidwani HUF |
|
2500 |
|
Shrichand Gidwani HUF |
|
2500 |
|
Dharamdas Gidwani HUF |
|
3000 |
|
Hemant Kumar HUF |
|
2000 |
|
Amit Gidwani |
|
5000 |
|
Sumit Gidwani |
|
5000 |
|
Prashant Gidwani |
|
5000 |
|
Bhavesh Gidwani |
|
5000 |
(AS ON 31.01.2012)
|
Names of Allotteess |
|
No. of Shares
Allotted |
|
|
|
|
|
Harichnd Gidwani HUF |
|
2300 |
|
Shrichand Gidwani HUF |
|
900 |
|
Dharamdas Gidwani HUF |
|
1400 |
|
Hemant Kumar HUF |
|
400 |
|
Ritesh Gidwani |
|
4900 |
|
|
|
|
|
Total |
|
9900 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importing and Distributing of Fresh Fruits. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
· HDFC Bank Limited HDFC Bank
Housesenapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jain and Anand Chartered Accountant |
|
Address : |
310, Kumar Tower, 15 Community Centre, Wazirpur Industrial Area, Delhi
– 110052, India |
|
Tel No.: |
91-11-27373075/ 27376700 |
|
Fax No.: |
91-11-27477097/ 27470089 |
|
PAN No.: |
AADFJ0065F |
|
Email : |
CAPITAL STRUCTURE
(AS ON 27.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000 |
Equity Shares |
Rs.10/- each |
Rs.0.600
Million |
|
|
|
|
|
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50100 |
Equity Shares |
Rs.10/- each |
Rs.0.501
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.501 |
0.500 |
0.105 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.897 |
0.090 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(0.045) |
|
|
NETWORTH |
1.398 |
0.590 |
0.060 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
46.031 |
15.217 |
0.015 |
|
|
TOTAL BORROWING |
46.031 |
15.217 |
0.015 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
47.429 |
15.807 |
0.075 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.720 |
0.056 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.052 |
0.003 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.827
|
0.459 |
0.000 |
|
|
Sundry Debtors |
23.262
|
9.777 |
0.000 |
|
|
Cash & Bank Balances |
5.566
|
6.769 |
0.031 |
|
|
Other Current Assets |
8.892
|
0.000 |
0.000 |
|
|
Loans & Advances |
3.874
|
1.292 |
0.000 |
|
Total
Current Assets |
49.421
|
18.297 |
0.031 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
4.330
|
2.230 |
0.000 |
|
|
Other Current Liabilities |
1.979
|
0.307 |
0.016 |
|
|
Provisions |
0.500
|
0.065 |
0.000 |
|
Total
Current Liabilities |
6.809
|
2.602 |
0.016 |
|
|
Net Current Assets |
42.612
|
15.695 |
0.015 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.045 |
0.053 |
0.060 |
|
|
|
|
|
|
|
|
TOTAL |
47.429 |
15.807 |
0.075 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
200.934 |
38.100 |
0.000 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.849 |
0.234 |
(0.027) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.586 |
0.037 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.263 |
0.197 |
(0.027) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.456 |
0.062 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.807 |
0.135 |
(0.027) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.10 |
2.70 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA |
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.63
|
0.52 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.33
|
1.07 |
(87.10) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.90
|
0.33 |
(0.45) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
37.80
|
30.20 |
0.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.26
|
7.03 |
1.94 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
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 |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
FINANCIAL RESULTS
The company has show a significant growth in
sales and profit and the director are putting in their bet effort to further increase
in sales and profit in the current year.
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10331345 |
|
Corporate
identity number of the company |
U74140DL2007PTC170895 |
|
Name of the company
|
G. T. FRUITECH
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
D-1A, Mahendru
Enclave, G.T. Karnal Road, Delhi – 110033, India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
HDFC Bank Limited HDFC Bank
Housesenapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra,
India |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum
recording past transactions of creation of Mortgage by Delivery of Title
Deeds. |
|
Date of
instrument Creating the charge |
21/05/2012 |
|
Amount secured by
the charge |
Rs.80.720
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be communicated by the Bank from time to time. Terms of Repayment
On Demand Margin As may be
stipulated by the Bank from time to time. Extent and
Operation of the charge The Company
accorded and gave oral consent to Bank to continue to hold and retain the
title deeds (by way of Constructive delivery) in respect of its immovable
properties as stated under Item No.15 below, as security for repayment of
Rs.80.720 Millions granted by bank to G.T. Fruitech Private Limited of
Rs.557.20 Lacs and Mr. Gangaram Tikam Das of Rs.25.000 Millions ("the
Borrower's), together with principal, interest, liquidated damages, costs,
charges & expenses. Others NIL. |
|
Short particulars
of the property charged |
Immovable
property being Basement and Ground Floor property shop bearing No. B-201, Block
B New Subzi Mandi, Azadpur, Delhi |
|
Particulars of
the present modification |
The equitable
mortgage/charge shall now stand increased from Rs.50.000 Millions to
Rs.80.720 Millions, in favour the Bank against the mortgage of immovable
property Basement and Ground Floor property shop bearing No. B-201, Block B
New Subzi Mandi, Azadpur, Delhi |
FIXED ASSETS:
· Shop
· Air Conditioner
· Car
· Cold Room
· Computer
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.55.17 |
|
|
1 |
Rs.86.43 |
|
Euro |
1 |
Rs.68.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
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 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
27 |
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.