|
Report Date : |
13.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
SIEWERT AND DHOLAKIA OVERSEAS PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
No. 24/178, ‘Dholakia House’, K P K Menon road, Willingdon Island,
Cochin – 682 003, Kerala |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
26.06.2002 |
|
|
|
|
Com. Reg. No.: |
09-019822 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.600 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51226KL2002PTC019822 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHNS04081A |
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is a commission agent dealing in agricultural raw material. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 160000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is well established and reputed company having fine track.
Directors are reported as experienced and respectable businessman. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. Profit and Loss Account of the company is not available. |
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
No. 24/178, ‘Dholakia House’, K P K Menon road, Willingdon Island,
Cochin – 682 003, Kerala, India |
|
Tel. No.: |
91-484-3012004 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
Dholakia House, |
|
Tel. No.: |
91-484-2669144 |
|
Fax No.: |
91-484-2667260 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Vikram Amritlal Dholakia |
|
Designation : |
Managing director |
|
Address : |
13/1100, Star Bright, |
|
Date of Birth/Age : |
20.06.1949 |
|
Date of Appointment : |
26.06.2002 |
|
DIN No.: |
00361741 |
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 |
U51226WB1948PTC016943 |
Siewert and
Dholakia Private Limited |
Director |
01-06-60 |
01-06-60 |
10-08-07 |
Active |
NO |
|
2 |
U65992UP1977PTC004497 |
Camellia
Industries Private Limited |
Director |
24-09-87 |
24-09-87 |
10-08-10 |
Active |
NO |
|
3 |
U51226KL2002PTC019822 |
Siewert and
Dholakia Overseas Private Limited |
Managing
director |
10-08-07 |
26-06-02 |
- |
Active |
NO |
|
Name : |
Mr. Sachin Vikram Dholakia |
|
Designation : |
Additional director |
|
Address : |
13/1100, Star Bright, |
|
Date of Birth/Age : |
13.04.1977 |
|
Date of Appointment : |
06.08.2007 |
|
DIN No.: |
00201441 |
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 |
U01122KL1995PTC009099 |
Star Orchids
Private Limited |
Director |
28-09-02 |
28-09-02 |
- |
Active |
|
|
2 |
U63040KL2003PTC016738 |
Emerald Star
Tourism Private Limited |
Managing
director |
31-12-03 |
31-12-03 |
- |
Active |
NO |
|
3 |
U51226KL2002PTC019822 |
Siewert and
Dholakia Overseas Private Limited |
Additional
director |
06-08-07 |
06-08-07 |
- |
Active |
NO |
|
Name : |
Mr. Rajeev Vikram Dholakia |
|
Designation : |
Additional director |
|
Address : |
13/1100, Star Bright, |
|
Date of Birth/Age : |
25.10.1972 |
|
Date of Appointment : |
06.08.2007 |
|
DIN No.: |
00201452 |
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 |
U01122KL1995PTC009099 |
Star Orchids
Private Limited |
Director |
31-05-95 |
31-05-95 |
- |
Active |
|
|
2 |
U63040KL2003PTC016738 |
Emerald Star
Tourism Private Limited |
Director |
31-12-03 |
31-12-03 |
- |
Active |
NO |
|
3 |
U51226KL2002PTC019822 |
Siewert and
Dholakia Overseas Private Limited |
Additional
director |
06-08-07 |
06-08-07 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Vikram Dholakia |
|
26605 |
|
Lata Vikram Dholakia |
|
12830 |
|
Rajeev Vikram Dholakia |
|
11610 |
|
Sachin Dholakia |
|
7575 |
|
V A Dholakia HUF |
|
1380 |
|
Total
|
|
60000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
2.30 |
|
Directors or relatives of Directors |
97.70 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is a commission agent dealing in agricultural raw material. |
GENERAL INFORMATION
|
Suppliers : |
·
Glenrock Estate Private Limited ·
Craigmore Plantations (India) Private Limited ·
Arun Shree Sakthi Engineering ·
Sony Centre ·
K Venkatachalam Aiyer and Company ·
S.P.C. Enterprises ·
ECG Corporation |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
·
L.A.B. International Kenya Limited ·
Haji Zada Sahar Limited, Afghanistan ·
Hikmat Limited ·
El Takadom Advanced Company ·
Ormi Traders, Russia |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
State
Bank of India, Overseas Branch, Willingdon Island, Indira Gandhi Road, Cochin
– 682 003, Kerala, India ·
United
Bank of India, Kolkata, India ·
HDFC
Bank ·
Fedralk
Bank ·
Indian
Overseas Bank ·
Canara
Bank ·
Indian
Bank |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K.Venkatachalam Aiyer and Company Chartered Accountant |
|
Address : |
Bldg. No 41/3647B, First Floor, Blue Bird Towers, Providence Road,
Kochi – 682018, Kerala, India |
|
PAN.: |
AAEFK0880A |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000 |
Equity Shares |
Rs.10/- each |
Rs.0.600 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000 |
Equity Shares |
Rs.10/- each |
Rs.0.600
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 |
0.600 |
0.600 |
0.600 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
40.491 |
34.915 |
30.722 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
41.091 |
35.515 |
31.322 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
36.521 |
30.299 |
2.998 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
36.521 |
30.299 |
2.998 |
|
|
DEFERRED TAX LIABILITIES |
0.068 |
0.119 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
77.680 |
65.933 |
34.320 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.516 |
3.316 |
3.414 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.513 |
1.624 |
1.069 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.099 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
29.307
|
16.480 |
11.193 |
|
|
Sundry Debtors |
24.743
|
22.830 |
0.566 |
|
|
Cash & Bank Balances |
3.807
|
2.960 |
1.254 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
20.476
|
21.037 |
19.777 |
|
Total
Current Assets |
78.333
|
63.307 |
32.790 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.269
|
0.114 |
0.937 |
|
|
Other Current Liabilities |
5.135
|
1.150 |
1.143 |
|
|
Provisions |
0.278
|
1.050 |
0.972 |
|
Total
Current Liabilities |
6.682
|
2.314 |
3.052 |
|
|
Net Current Assets |
71.651
|
60.993 |
29.738 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
77.680 |
65.933 |
34.320 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.05
|
0.92 |
1.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
11.72
|
27.36 |
10.74 |
LOCAL AGENCY FURTHER INFORMATION
Operation:
During the year the company has a profit of Rs.5.576 Millions. The
directors are hopeful that the business of the company will be profitable and
fruitful in the coming years too.
Form 8 :
|
Corporate identity number of the company |
U51226KL2002PTC019822 |
|
Name of the company |
SIEWERT AND DHOLAKIA OVERSEAS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
No. 24/178, ‘Dholakia House’, K P K Menon road, Willingdon Island,
Cochin – 682 003, Kerala, India E-mail : siewert@satyam.net.in
|
|
This form is for |
Modification of Charge |
|
Charge identification (ID) number of the charge to be modified |
10058453 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) |
|
Particular of charge holder |
State Bank Of India, Overseas Branch, Indira Gandhi Road, Willingdon
Island, Kochi – 682003, Kerala, India E-mail : sbi.00967@sbi.co.in |
|
Nature of instrument creating charge |
1) 2 Letters dated 18.03.2010 evidencing extension of equitable
mortgage by deposit of title deeds on 17.03.2010 2) Supplemental agreement of loan-cum hypothecation |
|
Date of instrument Creating the charge |
17.03.2010 |
|
Amount secured by the charge |
Rs.57.500 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest As stipulated by the Bank from time to time Terms of Repayment As stipulated by the Bank from time to time Margin A. FUND BASED LIMIT: a) Raw Material:
Indigenous - Nil b) Finished Goods - 25% c) Receivables (Cover 90
days) - 25% B) NON-FUND BASED LIMITS: a) Bank Guarantee - 10% Extent and Operation of the charge This is a charge on 9.5 cents of land in Sy.No.1069/8 at Chullikal,
Mattancherry Village, Kochi, and on 6 cents of land in Sy.No.1069/8 at
Chullikal, Mattancherry Village, Kochi, and also on all present and future
stocks, goods, raw materials, book debts, movable plant and machineries and
other movable assets. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
EM over 6.00 cents of land in Sy no. 1069/8 at Chullikal, Mattancherry
Village, Kochi, Kerala, India EM over 9.5 cents of land in Sy no. 1069/8 at Chullikal, Mattancherry
Village, Kochi, Kerala, India All the present and future stocks, goods, raw materials, book-debts,
movable plant and machineries and other movable assets |
|
Particulars of the present modification |
1)The Limits have been enhanced to Rs.57.500 Millions 2) The existing charge on 9.5 cents of land in Sy.No.1069/8 at
Chullikal, Mattancherry Village, Kochi, and on 6 cents of land in Sy.No.1069/8
at Chullikal, Mattancherry Village, Kochi, and also on all present and future
stocks, goods, raw materials, book debts, movable plant and machineries and
other movable assets have been extended to the enhanced limits |
Fixed Assets:
·
Land
·
Building
·
Furniture and Fitting
·
Office Equipments
·
Vehicles
·
Plant and Machinery
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.49.64 |
|
|
1 |
Rs.78.35 |
|
Euro |
1 |
Rs.65.80 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
53 |
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.