MIRA
INFORM REPORT
|
Report Date : |
12.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
KEDAR NATH AND SONS INDIA PRIVATE LIMITED |
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Registered Office : |
26, |
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Country : |
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Financial as on : |
31.03.2011 |
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Date of
Incorporation : |
11.12.2009 |
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Com. Reg. No.: |
21-140133 |
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Capital
Investment / Paid-up Capital : |
Rs.8.286 Millions |
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CIN No.: [Company Identification
No.] |
U52390WB2009PTC140133 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader of Plastic and Pharmaceutical Raw Material. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
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 97000 |
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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. Profitability
of the company appears to be low. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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) |
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|
A1 |
A1 |
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Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office/ Factory : |
26, Strand Road, 2nd Floor, Kolkata, West Bengal – 700091, |
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Mobile No.: |
91-9811225222 (Mr. Sandeep Taneja) |
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E-Mail : |
stanejal@gmail.com / bkb@merfinconsultants.com
/ chanderp2003@yahoo.co.in |
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Area : |
Rented |
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Corporate Office
: |
E-4, Devnagar Rohtak, |
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Tel No.: |
91-11-45668354 |
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Fax No.: |
91-11-45668353 |
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Branch Office : |
406, 4th Floor, Safron, Panchvati, Ahmedabad, |
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Email : |
DIRECTORS
As on 21.09.2011
|
Name : |
Mr. SandeepTaneja |
|
Designation : |
Director |
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Address : |
12/14, East Punjabi Bagh, |
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Date of Birth/Age : |
10.12.1978 |
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Date of Appointment : |
11.12.2009 |
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DIN No.: |
00156522 |
Other Directorships
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U67190WB1996PTC077995 |
Thunder
Merchandise Private Limited |
Director |
01-07-03 |
01-07-03 |
22-03-08 |
Active |
NO |
|
2 |
U51109WB2006PTC110689 |
Goodfaith
Dealers Private Limited |
Director |
23-10-09 |
23-10-09 |
01-04-10 |
Active |
NO |
|
3 |
U52390WB2009PTC140133 |
Kedar
Nath and Sons India Private Limited |
Director |
11-12-09 |
11-12-09 |
- |
Active |
NO |
|
4 |
U25199DL2010PTC207363 |
Clarion
Polymers Private Limited |
Director |
24-08-10 |
24-08-10 |
16-08-11 |
Active |
NO |
|
5 |
U24232DL2011PTC213177 |
Clarion
Lifesciences Private Limited |
Director |
31-01-11 |
31-01-11 |
- |
Active |
NO |
|
Name : |
Mr. Rajinder Kumar Taneja |
|
Designation : |
Director |
|
Address : |
12/14, East Punjabi Bagh, |
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Date of Birth/Age : |
25.02.1954 |
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Date of Appointment : |
11.12.2009 |
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DIN No.: |
00156431 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U67190WB1996PTC077995 |
Thunder
Merchandise Private Limited |
Director |
05-06-03 |
05-06-03 |
22-03-08 |
Active |
NO |
|
2 |
U74900DL2009PTC188425 |
Abaris
Healthcare Private Limited |
Director |
16-03-09 |
16-03-09 |
22-02-10 |
Active |
NO |
|
3 |
U51109WB2006PTC110689 |
Goodfaith
Dealers Private Limited |
Director |
05-05-09 |
05-05-09 |
01-04-10 |
Active |
NO |
|
4 |
U52390WB2009PTC140133 |
Kedar
Nath and Sons India Private Limited |
Director |
11-12-09 |
11-12-09 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 21.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Rajinder Kumar Taneja |
|
305000 |
|
Sandeep Taneja |
|
255000 |
|
Anjali Arora |
|
71600 |
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Suresh Kapoor |
|
144000 |
|
Suresh Kapoor (HUF) |
|
22000 |
|
Sunita Kapoor |
|
31000 |
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Total |
|
828600 |
As on 21.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Plastic and Pharmaceutical Raw Material. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Chandra Prakash and Company Chartered Accountant |
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Address : |
207, |
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Tel No.: |
91-11-25731059/25731060/41539570 |
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Fax no.: |
91-11-25741070 |
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PAN No.: |
AAHPP1487F |
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Memberships : |
Peeragarh Manufacturer’s Association |
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Associates/Subsidiaries : |
Abaris Healthcare Private Limited, Ahmedabad Line of
Business: Manufacturer of Pharmaceutical Products. |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
828600 |
Equity Shares |
Rs.10/- each |
Rs..8.286
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
8.286 |
0.100 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
16.036 |
0.000 |
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4] (Accumulated Losses) |
|
(0.015) |
(0.015) |
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NETWORTH |
|
24.307 |
0.085 |
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LOAN FUNDS |
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1] Secured Loans |
|
45.642 |
0.000 |
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2] Unsecured Loans |
|
20.625 |
1.506 |
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TOTAL BORROWING |
|
66.267 |
1.506 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
|
90.574 |
1.591 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
7.526 |
0.000 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.076 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
53.120 |
0.000 |
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Sundry Debtors |
|
22.219 |
0.000 |
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Cash & Bank Balances |
|
19.505 |
0.100 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
44.943 |
1.464 |
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Total
Current Assets |
|
139.787 |
1.564 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
|
37.001 |
0.000 |
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Other Current Liabilities |
|
18.300 |
0.015 |
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Provisions |
|
1.548 |
0.000 |
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Total
Current Liabilities |
|
56.849 |
0.015 |
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Net Current Assets |
|
82.938 |
1.549 |
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MISCELLANEOUS EXPENSES |
|
0.034 |
0.042 |
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TOTAL |
|
90.574 |
1.591 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
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SALES |
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Income |
|
|
0.000 |
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Other Income |
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|
0.000 |
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TOTAL |
|
1146.808 |
0.000 |
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Less |
EXPENSES |
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TOTAL |
|
1142.045 |
0.015 |
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PROFIT BEFORE
TAX |
|
4.763 |
(0.015) |
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Less |
TAX |
|
1.472 |
0.000 |
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PROFIT AFTER TAX
|
|
3.291 |
(0.015) |
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IMPORTS |
|
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|
Traded Goods |
|
1051.560 |
0.000 |
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TOTAL IMPORTS |
|
1051.560 |
0.000 |
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|
Earnings Per
Share (Rs.) |
|
3.97 |
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|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
|
|
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|
PAT / Total Income |
(%) |
|
0.29 |
0.00 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
3.23 |
(0.96) |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.20 |
(0.18) |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
5.07 |
17.89 |
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Current Ratio (Current Asset/Current Liability) |
|
|
2.46 |
104.27 |
LOCAL AGENCY FURTHER INFORMATION
Note: The registered
office address of the company has been shifted from E-5, Udyog Nagar,
Form 8:
|
Corporate
identity number of the company |
U52390WB2009PTC140133 |
|
Name of the
company |
KEDAR NATH AND
SONS INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
E-mail : bkb@merfinconsultants.com |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
10225125 |
|
Type of charge |
Book debts Floating charge Others (Hypothecation on Stocks) |
|
Particular of
charge holder |
Ing Vysya Bank Limited, 55 Ground Floor, West Avenue Road, Punjabi Bagh, New Delhi - 110026, India E-mail : roc.charge@gmail.com
|
|
Nature of
instrument creating charge |
Supplemental deed
of hypothecation |
|
Date of
instrument Creating the charge |
19.05.2011 |
|
Amount secured by
the charge |
Rs.505.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest CC : IVBR + 4.75%
p.a., LC : Commission
1.00% p.a, LEF : As per
treasury rates, BG : Commission
1.00% p.a, Buyer's Credit :
No Change Terms of
Repayment CC : Payable on
demand LC, LEF : Document of title to goods purchased I
purchased under the LC till, acceptance of the bill. Accepted bills of
exchange till retirement of the bills, Hypothecation of goods purchased
imported under the LC. Buyer's Credit :
Usance period of 90 days Margin CC : 25% on Stock
& 25% on Book debts (not more than 90 days) LC : 10% LEF : 10% BG : 100% with
due noting of lien. LC (Import) :
100% Buyer's Credit :
10% Extent and
Operation of the charge LC other than
Capital goods limit - Rs. 380.000 Millions CC (sub-limit of
LC import / inland - Rs. 40.000 Millions) BC (sub-limit of
LC import / inland - Rs.380.000 Millions) LEF limit - Rs.
20.000 Millions BG limit - Rs. 5.000 Millions LC Import limit -
Rs.100.000 Millions Total exposure
Rs. 505.000 Millions Exclusive charge
on Hypothecation of Stocks and book debts both present and future. Others NIL |
|
Short particulars
of the property charged |
Exclusive charge
on Hypothecation of Stocks & book debts both present and future. |
|
Particulars of
the present modification |
LC other than
Capital goods limit - Rs. 380.000 Millions CC (sub-limit of
LC import / inland - Rs. 40.000 Millions) BC (sub-limit of
LC import / inland - Rs.380.000 Millions) LEF limit - Rs.
20.000 Millions BG limit - Rs. 5.000 Millions LC Import limit -
Rs.100.000 Millions Total exposure
Rs. 505.000 Millions |
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.48.96 |
|
|
1 |
Rs.77.47 |
|
Euro |
1 |
Rs.64.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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 |
>86 |
|
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 |
71-85 |
|
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 |
56-70 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
41-55 |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
26-40 |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
11-25 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
<10 |
|
- |
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.