|
Report Date : |
20.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
API INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-3, Rameshwar Complex, Ghogha Circle, Bhavnagar-364002, Gujarat |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
12.08.2010 |
|
|
|
|
Com. Reg. No.: |
04-061975 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24139GJ2010PTC061975 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMA10115A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICA7479A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Trader of Plastic Materials |
|
|
|
|
No. of Employees
: |
Information not given by the management |
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 49000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a successor of Associated Plastic Industries a partnership
concern started in the year 1982. 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. 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.
INFORMATION DENIED BY
|
Name : |
Mr. Harshad |
|
Designation : |
Manager |
|
Contact No.: |
91-9825190197 |
|
Date : |
18.02.2012 |
LOCATIONS
|
Registered Office : |
A-3, Rameshwar Complex, Ghogha Circle, Bhavnagar-364002, Gujarat,
India |
|
Tel. No.: |
91-278-2560357 |
|
Mobile No.: |
91-9825190197 (Mr. Harshad) |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Pankajbhai Harilal Valia |
|
Designation : |
Director |
|
Address : |
55, Vrindavan, 2nd Floor, 9th Road, Nutan Laxmi
Society, Juhu Scheme, Vile Parle (West), Mumbai-400049, Maharashtra, India |
|
Date of Appointment : |
12.08.2010 |
|
DIN No.: |
02047350 |
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 |
U01110MH1995PTC084746 |
SILVER
TOP AGRO (INDIA) PRIVATE LIMITED |
Director |
19-01-95 |
19-01-95 |
- |
Active |
NO |
|
2 |
U72900MH2000PTC126638 |
HARDIK
COM PRIVATE LIMITED |
Director |
19-05-00 |
19-05-00 |
- |
Under
Process of Striking off |
NO |
|
3 |
L26954MH1978PLC194917 |
VHCL
INDUSTRIES LIMITED |
Managing
director |
09-02-08 |
09-02-08 |
- |
Active |
NO |
|
4 |
L99999MH1994PLC082810 |
UNITECH
INTERNATIONAL LIMITED |
Director |
01-04-09 |
01-04-09 |
- |
Active |
NO |
|
5 |
U24130GJ2010PTC061775 |
HARDIK
INDUSTRIAL CORPORATION PRIVATE LIMITED |
Director |
29-07-10 |
29-07-10 |
01-01-11 |
Active |
NO |
|
6 |
U24139GJ2010PTC061975 |
API
INDUSTRIES PRIVATE LIMITED |
Director |
12-08-10 |
12-08-10 |
- |
Active |
NO |
|
7 |
U24110GJ2010PTC061974 |
UIC CORPORATION
PRIVATE LIMITED |
Director |
12-08-10 |
12-08-10 |
- |
Active |
NO |
|
8 |
L27200MH1991PLC062568 |
JHAVERI
WELDFLUX LIMITED |
Director |
17-11-11 |
17-11-11 |
- |
Active |
NO |
|
Name : |
Mr. Hardik Bharat Valia |
|
Designation : |
Additional Director |
|
Address : |
Vakharia House, 1st Floor, 9th Road, J.V.P.D.,
Vile Parle (West), Mumbai-400049, Maharashtra, India |
|
Date of Appointment : |
17.08.2010 |
|
DIN No.: |
03068026 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U24139GJ2010PTC061975 |
API
INDUSTRIES PRIVATE LIMITED |
Additional
director |
17-08-10 |
17-08-10 |
Active |
NO |
|
2 |
U24110GJ2010PTC061974 |
UIC
CORPORATION PRIVATE LIMITED |
Additional
director |
17-08-10 |
17-08-10 |
Active |
NO |
|
3 |
U51900MH2000PTC128903 |
PMS
EXPORTS PRIVATE LIMITED |
Additional
director |
20-10-10 |
20-10-10 |
Active |
NO |
|
4 |
U25203MH2010PTC210442 |
PLAST
LINK POLYMERS INDIA PRIVATE LIMITED |
Director |
30-11-10 |
30-11-10 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Harshad |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Bharat Valia |
300000 |
|
Pankaj Valia |
300000 |
|
Hardik Bharat Valia |
100000 |
|
Rachna Valia |
20000 |
|
Ila Bharat Valia |
80000 |
|
Bhushan Valia |
100000 |
|
Daksha Pankaj Valia |
100000 |
|
Total |
1000000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Plastic Materials |
GENERAL INFORMATION
|
No. of Employees : |
Information not given by the management |
||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||
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Bankers : |
·
State Bank of India, Sir P. M. Road Branch,
Gresham House, Fort, Mumbai-400001, Maharashtra, India |
||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S S M and Company Chartered Accountant |
|
Address : |
211-212, Centre Point, 2nd Floor, Rupani Road, Ghogha
Circle, Bhavnagar-364002, Gujarat, India |
|
Pan No.: |
ABNFS5972M |
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 |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
10.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
2.453 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
12.453 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
37.792 |
|
|
2] Unsecured Loans |
|
|
61.641 |
|
|
TOTAL BORROWING |
|
|
99.433 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
111.886 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
3.070 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
26.440 |
|
|
DEFERREX TAX ASSETS |
|
|
0.023 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1.947 |
|
|
Sundry Debtors |
|
|
270.821 |
|
|
Cash & Bank Balances |
|
|
64.562 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
52.281 |
|
Total
Current Assets |
|
|
389.611 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
301.326 |
|
|
Other Current Liabilities |
|
|
1.260 |
|
|
Provisions |
|
|
4.866 |
|
Total
Current Liabilities |
|
|
307.452 |
|
|
Net Current Assets |
|
|
82.159 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.194 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
111.886 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2011 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
32.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.27 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
|
|
31.03.2011 |
|
Sundry Creditors |
|
|
301.326 |
|
|
|
|
|
FORM 8
|
Corporate
identity number of the company |
U24139GJ2010PTC061975 |
|
Name of the
company |
API INDUSTRIES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-3, Rameshwar Complex, Ghogha Circle, Bhavnagar-364002, Gujarat, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
State Bank of India, Sir P. M. Road Branch, Gresham House, Fort, Mumbai-400001, Maharashtra, India |
|
Nature of
instrument creating charge |
Agreement of
Hypothecation of Goods And Assets Letter Regarding The
Grant of Individual Limits Within The Overall Limit Both The
Agreements Constitute A Single Charge |
|
Date of
instrument Creating the charge |
29.12.2010 |
|
Amount secured by
the charge |
Rs. 380.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest FBWC - Limit
Rs.20.000 Millions - Rate of Interest @ 2.50% above SBAR Terms of repayment Not Applicable Margin Particulars of
the item margin 1) Raw
Materials
25% 2)
Stocks-in-Process
25% 3) Finished
Goods 25% 4) Letter of
Credit/ Bank Guarantee 10% 5) Book
Debts/Receivables 25% Extent and operation of the charge Nature Of
Facility
Limit 1) FBWC Rs. 20.000
Millions 2) NFBWC Rs.360.000
Millions ---------------------- Total
Rs.380.000 Millions Other Not Applicable |
|
Short particulars
of the property charged (Including location of the property) |
The Borrower Hereby
Agrees and Declares That The Said Goods and Assets Hypothecated and Charged
In Favour of The Bank by Way of First Charge for The Due Repayment on Demand
on The Bank of All Monies Including The Principal Sums, Interest, Cost,
Charges, Expenses and Other Monies Payable By The Borrower From Time to Time
and For The Time Being to The Bank. The Aforesaid Credit Facilities
Hypothecated In Favour of The Bank All Present and Future Goods Book-Debts
and Other Movable Assets of The Borrower. |
FIXED ASSETS
·
Building
·
Furniture and Fixtures
·
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 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. 49.21 |
|
|
1 |
Rs. 77.75 |
|
Euro |
1 |
Rs. 64.58 |
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 |
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 |
|
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.