|
Report Date : |
10.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
IEW CRANES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gat No.52, |
|
|
|
|
Country : |
|
|
|
|
|
Date of
Incorporation : |
21.03.2011 |
|
|
|
|
Com. Reg. No.: |
11-138949 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.300
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29100PN2011PTC138949 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of EOT Cranes, Gantry/Goliath Cranes, Wall Traveling Cranes, JIB Cranes, Semi Goliath Cranes, Single Grinder Cranes, Double Grinder Cranes, etc. |
|
|
|
|
No. of Employees
: |
10 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established as a partnership concern with the name of “Invotech
Engineering Works”, in the year 2004 and later it got converted into a
private company with the name of “IEW Cranes Private Limited”, during the
year 2011. The company has achieved satisfactory turnover in its first year i.e.
2011. 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 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 (30.09.2011) |
Current Rating (31.12.2011) |
|
|
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. Nilesh |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-9922993515 |
|
Date : |
30.06.2012 |
LOCATIONS
|
Registered Office/ Factory : |
Gat No.52, |
|
Tel. No.: |
91-9960922722 |
|
Mobile No.: |
91-9922993515 (Mr. Nilesh) |
|
Fax No.: |
91-9552526516 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
12000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Mohanlal Meghji Patel |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Natraj Sow Mill, A/P Songir, Dhule – 424 309, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.03.1950 |
|||||||||||||||||||||||||||
|
Qualification : |
Graduate |
|||||||||||||||||||||||||||
|
Date of Appointment : |
21.03.2011 |
|||||||||||||||||||||||||||
|
DIN No. : |
02917769 |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Mahesh Meghaji Patel |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Flat No.49, Floor - 6, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
05.08.1968 |
|||||||||||||||||||||||||||
|
Qualification : |
Engineer |
|||||||||||||||||||||||||||
|
Date of Appointment : |
21.03.2011 |
|||||||||||||||||||||||||||
|
DIN No. : |
02923931 |
|||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Kishor Mohan Patel |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Natraj Saw Mill Compound, A/P Songir, Dhule – 424 309, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
10.10.1982 |
|||||||||||||||||||||||||||
|
Qualification : |
Engineer |
|||||||||||||||||||||||||||
|
Date of Appointment : |
21.03.2011 |
|||||||||||||||||||||||||||
|
DIN No. : |
02917774 |
|||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Nilesh |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.03.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mohanlal Meghji Patel |
|
10000 |
|
Mahesh Meghaji Patel |
|
10000 |
|
Kishor Mohan Patel |
|
10000 |
|
Total
|
|
30000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of EOT Cranes, Gantry/Goliath Cranes, Wall Traveling Cranes, JIB Cranes, Semi Goliath Cranes, Single Grinder Cranes, Double Grinder Cranes, etc. |
|
|
|
|
Products : |
v
EOT Cranes v
Gantry/Goliath
Cranes v
Wall Travelling
Cranes v
JIB Cranes v
Semi Goliath
Cranes v
Single Grinder
Cranes v
Double Grinder
Cranes v
Semi Gantry Cranes v
Jib Cranes v
Under Slung Cranes v
Wire Rope Hoists v
Crabs v
Single Girder Wire
Rope Hoist |
|
|
|
|
Services Offered : |
v
In-house
Production v
Installations v
Erection v
Commissioning v
AMC (Annual
Maintenance Contract) v
Partial service
visit to different regions |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
|
|
|
|
No. of Employees : |
10 (Approximately) |
|
|
|
|
Bankers : |
v Abhyudaya Co-Operative Bank Limited, Pimpri
Branch, Pune, v Abhyudaya Co-Operative Bank Limited,
Administrative Office, K.K. Tower, Abhyudaya Bank, Lane, Off G.D. Ambekar Marg, Parel Village, Mumbai – 400 012,
Maharashtra, India v
IDBI Bank Limited, Pimpri, Pune, |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
By Consultancy Private Limited |
CAPITAL STRUCTURE
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 |
|
30000 |
Equity Shares |
Rs.10/- each
|
Rs.0.300
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
2011-12 |
|
Sales Turnover (Approximately) |
|
|
35.000 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.50.000 millions
The above information has been parted by Mr. Nilesh (Accounts
Executive).
INVOTECH
ENGINEERING WORKS
(PARTNERSHIP
CONCERN)
|
Particulars |
|
|
2010-11 |
|
Sales Turnover (Approximately) |
|
|
5.500 |
|
|
|
|
|
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
8) No. of
employees |
Yes |
|
9) Name of person
contacted |
Yes |
|
10) Designation
of contact person |
Yes |
|
11) Turnover of
firm for last two years |
Yes |
|
12) Profitability
for last two years |
No |
|
13) Reasons for
variation <> 20% |
-- |
|
14) Estimation
for coming financial year |
Yes |
|
15) Capital in
the business |
Yes |
|
16) Details of
sister concerns |
No |
|
17) Major
suppliers |
No |
|
18) Major
customers |
No |
|
19) Payments
terms |
Yes |
|
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 |
Yes |
|
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 |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U29100PN2011PTC138949 |
|
Name of the
company |
IEW CRANES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Gat No.52, E-Mail: andante@pn2.vsnl.net.in |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property
(not being pledge) |
|
Particular of
charge holder |
Abhyudaya Co-Operative
Bank Limited, Administrative Office, K.K. Tower, Abhyudaya Bank, Lane, Off G.D. Ambekar Marg, Parel Village,
Mumbai – 400 012, Maharashtra, India E-Mail: loans@abhyudayabank.net |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement for
Hypothecation of Plant and Machineries/Goods |
|
Date of
instrument Creating the charge |
07.10.2011 |
|
Amount secured by
the charge |
Rs.0.643 million |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Rate of Interest:
@ 14.5% p.a. (Floating) with monthly rests or at such other rate, as may be
decided by the bank, from time to time. Terms of
Repayment: Repayment of Term
Loan by way of 60 EMIs of Rs.0.015 million each, the first of which to commence from 15th
November, 2011. Margin: As may be
decided, from time to time, by the bank. Extent and
Operation of the charge: To secure the due
repayment of Term Loan, together with interest, costs, charges, expenses etc.
thereon, granted by the Bank to the Company. |
|
Short particulars
of the property charged |
Machineries such
as Growel Make CNC Gas Cutting Machine, Rapower Gen DG Set, etc. |
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.56.02 |
|
|
1 |
Rs.86.77 |
|
Euro |
1 |
Rs.68.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.