MIRA
INFORM REPORT
|
Report Date : |
16.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
ARROW AEROSPACE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1, Lal Bahadur Shastri, 1st Lane, 1251 Purbachal Main Road,
P.O.-Haltu, Kolkata – 700078, West
Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
31.05.2010 |
|
|
|
|
Com. Reg. No.: |
21-150064 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74120WB2010PTC150064 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALA14236F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICA5667L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of BLDC Motor, Lighting Products and Components. |
|
|
|
|
No. of Employees
: |
9 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively new company having moderate track. Even
though, the company was incorporated in the year 2010, it commenced its activities
from the year 2011. As per records, the company did not achieve any sales
turnover. Its has incurred loss during the year 2011. Payments are reported to be slow. Initially, the company can be considered for business dealings only on
a safe and secured trade terms and conditions. |
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. Sudip Sarkar |
|
Designation : |
Director |
|
Contact No.: |
91-9038217098 |
|
Date : |
11.07.2012 |
LOCATIONS
|
Registered Office : |
1, Lal Bahadur Shastri, 1st Lane, 1251 Purbachal Main Road,
P.O.-Haltu, Kolkata – 700078, West
Bengal, India |
|
Tel. No.: |
91-33-24849116 |
|
Mobile No.: |
91-9038217098 (Mr. Sudip) |
|
Fax No.: |
91-33-24848855 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
(AS ON 24.10.2011)
|
Name : |
Mr. Sudip Sarkar |
|
Designation : |
Director |
|
Address : |
53, |
|
Date of Birth/Age : |
16.11.1972 |
|
Qualification : |
Diploma Engineering Mechanic |
|
Date of Appointment : |
31.05.2010 |
|
DIN No.: |
02321069 |
|
|
|
|
Name : |
Mr. Chiranjib Rudra |
|
Designation : |
Director |
|
Address : |
Flat – B1, BL-II, 117A |
|
Date of Birth/Age : |
09.04.1948 |
|
Qualification : |
M. Tech. |
|
Date of Appointment : |
07.06.2010 |
|
DIN No.: |
00396633 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 24.10.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Sudip Sarkar |
|
5000 |
|
Mrinmoy Nandi |
|
5000 |
|
|
|
|
|
Total |
|
10000 |
(AS ON 02.03.2012)
|
Names of Allottees |
|
No. of Shares
Allotted |
|
|
|
|
|
Sandip Paul |
|
500 |
|
|
|
|
|
Total |
|
500 |
(AS ON 31.10.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
50.00 |
|
Other top fifty shareholders |
|
50.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of BLDC Motor, Lighting Products and Components. |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
· US ·
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, T.T. |
|
|
|
|
Purchasing : |
L/C, T.T. |
GENERAL INFORMATION
|
Suppliers : |
· Electron ·
Seri Con Technologies, |
||||||||||
|
|
|
||||||||||
|
Customers : |
Importer and Dealer · D.R.D.O. |
||||||||||
|
|
|
||||||||||
|
No. of Employees : |
9 (Approximately) |
||||||||||
|
|
|
||||||||||
|
Bankers : |
·
United Bank of 293/1, · ICICI Bank Limited, Kasba Branch |
||||||||||
|
|
|
||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. Dhar and Associates Chartered Accountant |
|
Address : |
9/7, |
|
Tel No.: |
91-33-24404834 |
|
PAN No.: |
ADUPD2514M |
|
Email : |
CAPITAL STRUCTURE
(AS ON 24.10.2011)
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 |
|
|
|
|
|
|
35500 |
Equity Shares |
Rs.10/- each |
Rs.0.355
Million |
|
|
|
|
|
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 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 |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(0.062) |
|
|
NETWORTH |
|
|
0.038 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.060 |
|
|
TOTAL BORROWING |
|
|
0.060 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.098 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.011 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.015 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
0.006 |
|
|
Other Current Assets |
|
|
0.051 |
|
|
Loans & Advances |
|
|
0.000 |
|
Total
Current Assets |
|
|
0.072 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
0.035 |
|
|
Other Current Liabilities |
|
|
0.005 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.040 |
|
|
Net Current Assets |
|
|
0.032 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.055 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.098 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL (A) |
|
|
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
|
|
0.060 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
(0.060) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.002 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
(0.062) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
|
(0.062) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
(0.062) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
(6.20) |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
5.200 |
|
|
|
|
|
Expected Sales (2012-13): Rs.15.000 Millions
The above information has been parted by Mr. Sudip.
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(74.70) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
(1.63) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
2.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.80 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
No |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last one years |
Yes |
|
Profitability for last one years |
Yes |
|
Reasons for variation <> 20% |
----- |
|
Estimation for coming financial year |
Yes |
|
Capital in the business |
Yes |
|
Details of sister concerns |
No |
|
Major Suppliers |
Yes |
|
Major Customers |
Yes |
|
Payments Terms |
Yes |
|
Export/ Imports Details (If applicable) |
Yes |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
----- |
|
Buyer visit details |
----- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
NOTE:
The Registered office of the company has been
shifted from, 53,
WORKING RESULTS:
Company was incorporated on 30th
May 2010 and this is the 1st year of its operations.
During the period their net sales were Rs. Nil
and net loss after meeting all expenses and depreciation were Rs.0.062 Million
(Previous year Rs. Nil) only before tax.
TRADE REFERENCE:
· D.R.D.O.
· Electron
·
Seri Con Technologies,
FORM 8:
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U74120WB2010PTC150064 |
|
Name of the
company |
ARROW AEROSPACE
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1, Lal Bahadur
Shastri, 1st Lane, 1251 Purbachal Main Road, P.O.-Haltu, Kolkata – 700078,
West Bengal, India |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
United Bank of |
|
Nature of
description of the instrument creating or modifying the charge |
hypothecation of
stock, book debts and plant and machinery and cgtmse coverage |
|
Date of
instrument Creating the charge |
31/05/2012 |
|
Amount secured by
the charge |
Rs.1.900 Millions
|
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest BR + 3%
(floating) at present 13.45% Terms of
Repayment Subject to annual
review and renewal Margin 25% on eligible
stock, 40% on eligible receivable Extent and
Operation of the charge United Bank of |
|
Short particulars
of the property charged |
Stock of
electronic goods and component consisting of
wip, raw materials, finished goods,
At 1, Lal Bahadur Sastri 1st Lane, 1251 Purbachal Main Road, P.O.-
Haltu, Kolkata - 700078 up
country book debts plant and
machinery at 1, Lal Bahadur Sastri 1st Lane, 1251 Purbachal Main Road, P.O.-
Haltu, Kolkata - 700078 |
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.55.66 |
|
|
1 |
Rs.85.89 |
|
Euro |
1 |
Rs.67.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
-- |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
11 |
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.