|
Report Date : |
18.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
GLASS WALL SYSTEMS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
718/719, Corporate Centre, Nirmal Lifestyle, L.B.S. Marg, Mulund (West),
Mumbai – 400080, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Date of
Incorporation : |
27.08.2010 |
|
|
|
|
Com. Reg. No.: |
207187 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.127.258 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH2010PTC207187 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG14952A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCG9248G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Providing Construction Services. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a relatively new company having moderate track records.
Even though the company was incorporated in the year August, 2010, the
management failed to file its financials with the government department. No financial details are made available. Business is known to be
active. Payment terms are unknown. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities – A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
April 25, 2012 |
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank Facilities – BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
April 25, 2012 |
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.
INFORMATION DECLINED BY
|
Name : |
Mr. Satish |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-25690021 |
|
Date : |
17.08.2012 |
LOCATIONS
|
Registered Office : |
718/719, Corporate Centre, Nirmal Lifestyle, L.B.S. Marg, Mulund
(West), Mumbai – 400080, Maharashtra, India |
|
Tel. No.: |
91-22-25690021-24 |
|
Fax No.: |
91-22-25690023 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
|
Name : |
Mr. Jawahar Hariram Hemrajani |
|
Designation : |
Director |
|
Address : |
Flat No.1003, Jimmy Tower, Sector – 4, Vashi, Navi Mumbai – 400703,
Maharashtra, India |
|
Date of Birth/Age : |
15.08.1963 |
|
DIN No.: |
00740482 |
|
|
|
|
Name : |
Mr. Kamlesh Arun Choudhari |
|
Designation : |
Director |
|
Address : |
1002/1003, Kalinga Building, Nirmal Nagar, Mulund (West), Mumbai –
400080, Maharashtra, India |
|
Date of Birth/Age : |
13.06.1974 |
|
DIN No.: |
00740645 |
KEY EXECUTIVES
|
Name : |
Mr. Satish |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 24.10.2010)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Jawahar H. Hemrajani |
|
4000 |
|
Kamlesh Choudhary |
|
4000 |
|
Vinne J. Hemrajani |
|
400 |
|
Sunita K. Choudhary |
|
1000 |
|
Eshan J, Hemrajani |
|
200 |
|
Duru J. Hemrajani |
|
200 |
|
Hariram H. Hemrajani |
|
200 |
|
|
|
|
|
Total |
|
10000 |
(AS ON 24.10.2010)
|
Names of Allottees |
|
No. of Shares
Allotted |
|
|
|
|
|
Jawahar H. Hemrajani |
|
6228954 |
|
Kamlesh Choudhary |
|
6228954 |
|
Eshan J, Hemrajani |
|
25789 |
|
Hariram H. Hemrajani |
|
25789 |
|
Duru J. Hemrajani |
|
25789 |
|
Sunita K. Choudhary |
|
128945 |
|
Vine J. Hemrajani |
|
51578 |
|
|
|
|
|
Total |
|
12715798 |
BUSINESS DETAILS
|
Line of Business : |
Providing Construction Services. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
· Bank of India Mumbai Mid Corporate Branch, 70-80, M. G. Road, Mumbai – 400001,
Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shaha and Seth Company Chartered Accountants |
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|
|
|
Associates/Subsidiaries : |
· JWS Fabricators Private Limited Mulund (West), Mumbai, Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- Each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12725798 |
Equity Shares |
Rs.10/- Each |
Rs.127.258
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
NOT DIVULGED
The above information has been declined by Mr. Satish.
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 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
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 |
No |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
No |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
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 |
Yes |
FORM 8:
|
Corporate identity number of the company |
U74999MH2010PTC207187 |
|
Name of the company |
GLASS WALL SYSTEMS (INDIA) PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
718/719, Corporate Centre, Nirmal
Lifestyle, L. B. S. Marg, Mulund West, Mumbai – 400080, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of charge holder |
· Bank of India Mumbai Mid
Corporate Branch, 70-80, M. G. Road, Mumbai – 400001, Maharashtra, India |
|
Nature of instrument creating charge |
Joint Deed of Hypothecation. |
|
Date of instrument Creating the charge |
22/11/2010 |
|
Amount secured by the charge |
Rs.570.00 Millions |
|
Brief of the principal terms and conditions
and extent and operation of the charge |
Rate of Interest Interest as may be stipulated 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 charge created by the Borrower to and
in favour of the following Banks jointly and to each of them severally shall
be a continuing security for the balance from time to time due to the Banks
and each of them under the credit facilities granted by the Banks to the
Borrower, together with interest, additional interest, costs, charges,
expenses and other monies due and payable under the following facilities by
the borrower to the said banks. Others The charge created herein shall rank pari
passu inter se the Banks for all purposes and to all intents without any
preference of one over the other or others |
|
Short particulars of the property charged |
Hypothecation of First charge on the whole
of the Current Assets of the Borrower namely,
Stocks of Raw Materials, Stocks
in Process, Semi-Finished and Finished Goods stores and spares not relating
to Plant and Machinery (Consumable Stores and Spares), Bills Receivable and
Book Debts and all other movables. |
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.55.70 |
|
|
1 |
Rs.87.55 |
|
Euro |
1 |
Rs.68.85 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
-- |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
11 |
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.