|
Report Date : |
15.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
KIWI ENTERPRISES PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
KIWI ENTERPRISES |
|
|
|
|
Registered
Office : |
RZ – A/4, Dwarka Puri, Vijay Enclave, New Delhi – 110045 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
25.11.2002 |
|
|
|
|
Com. Reg. No.: |
55-117783 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U19201DL2002PTC117783 |
|
|
|
|
IEC No.: |
0595048153 |
|
|
|
|
TIN No.: |
06871924199 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCK5336L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Trader of Footwear. |
|
|
|
|
No. of Employees
: |
400 (Approximately) |
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 |
|
Maximum Credit Limit : |
USD 700 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject has been taken over the running business of Kiwi Enterprises,
a proprietory concern started in the year 1996 w.e.f November 2011. Trade relations
are reported as fair. Business is active. The company can be considered for business dealings 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 – 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 |
INFORMATION PARTED BY
|
Name : |
Mr. Harsh Khanna |
|
Designation : |
Director |
|
Contact No.: |
91-124-4121700 |
|
Date : |
10.02.2012 |
LOCATIONS
|
Registered Office : |
RZ – A/4, Dwarka Puri, Vijay Enclave, New Delhi – 110045, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
423, Pace City – 2, Sector – 37, Udyog Vihar, Phase – 6, Gurgaon –
122001, Haryana, India |
|
Tel. No.: |
91-124-4121700/4030763/4030764/4030765 |
|
Fax No.: |
91-124-4030762 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Plot No. 410, Sector – 37, Pace City – I, Gurgaon – 122001, Haryana,
India |
DIRECTORS
As on 31.03.2010
|
Name : |
Mr. Harsh Khanna |
|
Designation : |
Director |
|
Address : |
24 Shakuntala Farms, |
|
Date of Birth/Age : |
46 Years |
|
Qualification : |
Graduate |
|
Experience : |
25 Years |
|
|
|
|
Name : |
Mrs. Sangeeta Khanna |
|
Designation : |
Director |
|
Address : |
24 Shakuntala Farms, Sultanpur M.G. Road, New
Delhi, 110030, Delhi, India |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
NOT AVAILABLE
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Trader of Footwear. |
|
|
|
|
Exports : |
|
|
Products : |
Footwear |
|
Countries : |
Europe |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
Cash/ Credit (30 days) |
|
|
|
|
Purchasing : |
Cash/ Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers ·
Others |
|
|
|
|
No. of Employees : |
400 (Approximately) |
|
|
|
|
Bankers : |
Syndicate Bank, IB Branch, F-40, Connaught Place, New Delhi, Delhi -
110001, India |
|
|
|
|
Facilities : |
Credit Limit : Rs.150.000 Millions |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ajay Sabharwal and Associates Chartered Accountants |
|
Address : |
903, Chiranjiv Tower, 43, Nehru Place, New Delhi – 110019, India |
|
Tel. No.: |
91-11-26483458/26217866/26216127 |
|
PAN.: |
AAZPS3858B |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 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]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.200 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(0.105) |
(0.086) |
(0.073) |
|
|
NETWORTH |
0.195 |
0.014 |
0.026 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
0.195 |
0.014 |
0.027 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.201
|
0.100 |
0.100 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
0.201
|
0.100 |
0.100 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
0.014
|
0.098 |
0.089 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
0.014
|
0.098 |
0.089 |
|
|
Net Current Assets |
0.187
|
0.002 |
0.011 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.008 |
0.012 |
0.016 |
|
|
|
|
|
|
|
|
TOTAL |
0.195 |
0.014 |
0.027 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Audit Fees |
0.013 |
0.008 |
0.008 |
|
|
|
Preliminary Expenses w/off |
0.004 |
0.004 |
0.004 |
|
|
|
TOTAL |
0.017 |
0.012 |
0.012 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(0.017) |
(0.012) |
(0.012) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.002 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
NET LOSS |
(0.019) |
(0.012) |
(0.012) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.90 |
-- |
-- |
|
|
Particulars |
|
|
01-04-2011 to Nov 2011 |
|
Sales Turnover (KIWI ENTERPRISES) |
|
|
280.000 |
|
|
|
|
|
Expected Sales (2011-2012): Rs.600.000 Millions (KIWI ENTERPRISES
PRIVATE LIMITED)
The above information has been parted by Mr. Harsh Khanna.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.45)
|
(12.00) |
(12.00) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.86 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.07
|
7.00 |
3.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
14.36
|
1.02 |
1.12 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS
AND WORKING
The operations of the company could not be started during the year. The year
has resulted into a nominal Loss. The Directors are exploring the possibility
to start business in near future.
|
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 |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
-- |
|
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 |
Yes |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
No |
|
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) |
Yes |
|
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 |
Yes |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
FORM 8
|
Corporate
identity number of the company |
U19201DL2002PTC117783 |
|
Name of the company
|
KIWI ENTERPRISES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
RZ – A/4, Dwarka Puri, Vijay Enclave, New Delhi – 110045, India Email Id : info@kiwiindia.com |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10263396 |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
Syndicate Bank, IB Branch, F-40, Connaught Place, New Delhi, Delhi -
110001, India Email Id : agm9042@yahoo.com |
|
Nature of
instrument creating charge |
Composite
Hypothecation Agreement, Comprehensive Pre-Shipment and Post- shipment
Agreement and Charge and Hypothecation of debts Agreement |
|
Date of
instrument Creating the charge |
16.12.2011 |
|
Amount secured by
the charge |
Rs.150.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest ROI shall be
charged at Syndicate Bank Base Rate +1.25% or at such other rates as may be
specified by the bank from time to time Terms of
repayment PCL to be repaid/
closed within a Max period of 90 days. For post shipment credit 17C of
Comprehensive Pre-Shipment and Post-shipment Agreement Margin FDBp/FUB/PLC –
Nil PCL/LC – 25% Extent and
operation of the charge Hypothecation of stocks
and book debts of the company is to secure following credit facilities
granted by Syndicate Bank to the company. 1. FDBC/FUBN/LC
limit of Rs.83.000 Millions 2. PCL/LC of
Rs.67.000 Millions. Aggregate limit of Rs.150.000 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
stocks, raw material, semi-finished goods and finished goods like leather
footwear etc. to be stored at borrower premise at 410 Pace City – 2 Sector 37
Gurgaon, Haryana, India, 549 C- Pace City, – 2 Sector-37, Gurgaon, Haryana,
India, 423, Pace City-2, Sector-37, Gurgaon, Haryana, India Hypothecation of
book-debts/receivables of the company both present and future |
|
Particulars of
the present modification |
By present
sanction FDBP/FUBP/LC limit stands enhanced from Rs.60.000 Millions to
Rs.83.000 Millions and PCL/LC limit stands enhanced from Rs.40.000 Millions
to Rs.67.000 Millions (interchangeability between post-shipment to
pre-shipment up to Rs.20.000 Millions) and ad-hoc sanction of Foreign
documentary demand/usance bills with LC limit of Rs.50.000 Millions stands
cancelled. Aggregate limit remains the same at Rs.150.000 Millions. Charge on
current assets of the company to be continued |
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.49.33 |
|
|
1 |
Rs.77.41 |
|
Euro |
1 |
Rs.64.84 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
3 |
|
--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 |
YES |
|
--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 |
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.