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Report Date : |
20.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
ICONIC CASTINGS PRIVATE LIMITED |
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Registered
Office : |
11E Block No.30, Ruikar Colony, |
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Country : |
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Date of
Incorporation : |
23.11.2010 |
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Com. Reg. No.: |
11-137811 |
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Capital
Investment/ Paid-up Capital: |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U27101PN2010PTC137811 |
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IEC No.: |
3111006972 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
KLPI00706G |
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PAN No.: [Permanent Account No.] |
AACC16143H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of C.I. Castings |
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No. of
Employees: |
25 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (14) |
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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 |
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Status : |
Recently started activity |
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Payment Behaviour : |
Unknown |
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Litigation : |
-- |
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Comments : |
Though the company was incorporated in the year 2010. But the company
started their commercial activity form May 2012. Business is active. Payments
term are unknown. Initially the company can be considered for business dealing on a
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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Sharad Patil |
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Designation : |
Purchase Department |
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Contact No.: |
91-8805021919 |
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Date : |
19.07.2012 |
LOCATIONS
|
Registered Office : |
11E Block No.30, Ruikar Colony, Kolhapur - 416004, Maharashtra, India |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-8805021745 (Mr. Kamlesh) |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory : |
149, Kallappanna, Awade Co-operative Industrial Estate, Tardal,
Hatkanangle, Kolhapur - 416121, Maharashtra, India |
DIRECTORS
As on: 16.11.2010
|
Name : |
Mr. Abhijeet Chandrakant Deshpande |
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Designation : |
Additional Director |
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Address : |
1004/6 A Ward Suvarn Kamal, Shivaji Peth, Kolhapur – 416012, Maharashtra, India |
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Date of Birth/Age : |
10.07.1977 |
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Date of Appointment : |
18.08.2011 |
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DIN No.: |
03519363 |
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Name : |
Mr. Sushama Rajesh Rao |
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Designation : |
Additional Director |
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Address : |
159,Priyadarshini, MLA Layout, RT Nagar Main Road, Bangalore – 560032, Karnataka, India |
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Date of Birth/Age : |
23.06.1975 |
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Date of Appointment : |
18.08.2011 |
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DIN No.: |
03543673 |
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Name : |
Mr. Tushar Suresh Kulkarni |
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Designation : |
Additional Director |
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Address : |
Vyankatesh, Plot No.16/1558, Mahesh Nagar, Ichalkaranji - 416115, Maharashtra, India |
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Date of Birth/Age : |
11.11.1978 |
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Date of Appointment : |
18.08.2011 |
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DIN No.: |
00190795 |
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Name : |
Mr. Nilesh Suresh Kulkarni |
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Designation : |
Additional Director |
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Address : |
Vyankatesh, Ward No.10, Ichalkaranji – 416115, Maharashtra, India |
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Date of Birth/Age : |
15.04.1977 |
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Date of Appointment : |
18.08.2011 |
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DIN No.: |
00783639 |
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Name : |
Mr. Sachin Sudhakar Pore |
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Designation : |
Director |
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Address : |
11E Block No. 30, Ruikar Colony, Kolhapur – 416004, Maharashtra, India |
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Date of Birth/Age : |
17.05.1971 |
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DIN No.: |
00303159 |
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Name : |
Mr. Sandeep Sudhakar Pore |
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Designation : |
Director |
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Address : |
11E Block No. 30, Ruikar Colony, Kolhapur – 416004, Maharashtra, India |
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Date of Birth/Age : |
28.11.1968 |
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DIN No.: |
00303081 |
KEY EXECUTIVES
|
Name : |
Mr. Sharad Patil |
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Designation : |
Purchase Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 16.11.2010
|
Names of Shareholders |
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No. of Shares |
|
Sachin Sudhakar Pore |
|
500 |
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Sandeep Sudhakar Pore |
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500 |
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Total |
|
1000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of C.I. Castings |
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Imports : |
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Products : |
·
Machinery |
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Countries : |
·
Denmark ·
Germany |
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Terms : |
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Selling : |
Depends |
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Purchasing : |
Depends |
GENERAL INFORMATION
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Customers : |
Wholesalers, Dealer and Manufacturer |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
Bank of Baroda, Akiwate Udyamnagar, Jaysingpur (Udgaon) Branch,
Kolhapur - 416144, Maharashtra, India |
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Facilities : |
Cash Credit Rs.10.000 Millions (From Bank of Baroda) TC Rs.150.000 Millions (From Bank of Baroda) |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
U. S. Shah Chartered Accountant |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1000 |
Equity Shares |
Rs.100/- each |
Rs0.100
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
NOT AVAILABLE
(Activity started from May 2012)
LOCAL AGENCY FURTHER INFORMATION
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Available
in Report [Yes/No] |
|
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Year
of Establishment |
Yes |
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Locality
of the Firm |
Yes |
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Constitution
of the firm |
Yes |
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Premises
details |
No |
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Type
of Business |
Yes |
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Line
of Business |
Yes |
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Promoters
background |
Yes |
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No.
of Employees |
Yes |
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Name
of Person Contacted |
Yes |
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Designation
of contact person |
Yes |
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Turnover
of firm for last three years |
No |
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Profitability
for last three years |
No |
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Reasons
for variation <> 20% |
- |
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Estimation
for coming financial year |
- |
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Capital
the business |
Yes |
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Details
of sister concerns |
No |
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Major
Suppliers |
No |
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Major
Customers |
No |
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Payment
Terms |
Yes |
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Export
/ Import Details [If Applicable] |
Yes |
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Market
Information |
- |
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Litigations
that the firm / promoter involved in |
- |
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Banking
Details |
Yes |
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Banking
Facility Details |
Yes |
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Conduct
of the banking account |
- |
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Buyer
visit details |
- |
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Financials,
if provided |
No |
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Incorporation
details, if applicable |
Yes |
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Last
accounts filed at ROC |
No |
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Major
Shareholders, if applicable |
Yes |
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U27101PN2010PTC137811 |
|
Name of the
company |
ICONIC CASTINGS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
11E Block No.30, Ruikar Colony, Kolhapur - 416004, Maharashtra, India E-mail: pgassociate@rediffmail.com
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|
This form is for |
Creation of
charge |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) |
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Particular of
charge holder |
Bank of Baroda, Akiwate Udyamnagar, Jaysingpur (Udgaon) Branch, Kolhapur - 416144, Maharashtra, India E-mail: pgassociate@rediffmail.com
|
|
Nature of
instrument creating charge |
Composite
hypothecation agreement date: 01/12/2011 Memorandum of
Entry date: 01/12/2011 (Both documents
create single charge) |
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Date of
instrument Creating the charge |
01.12.2011 |
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Amount secured by
the charge |
Rs.80.000
Millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest 5.50% p.a. above
base rate at present 10.75%
p.a with monthly rests. Terms of
Repayment As per the terms
and conditions in the agreement. Margin 25% Extent and Operation
of the charge 1. First charge
by way of Hypothecation of raw material,other foundry material, WIP, stores
and spares, finished goods of the
Company situated at Plot No.149, Kallappanna Awade Co-operative Industrial
Estate. Tardel and all kind of book debts. 2. Mortgage of
Land and Building situated at Plot No.149, Kallappanna Awade Co-operative
Industrial Estate, Tardel, Talula-Hatkangale, District-Kolhapur. Under Gat
no.1045, 1051, 1052,1053,1054,1055. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
raw material, other foundry material, WIP, stores and spares, finished goods
of the Company situated at Plot No.149, Kallappanna Awade Co-operative
Industrial Estate. Tardel and all kind of book debts. |
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.55.38 |
|
|
1 |
Rs.86.75 |
|
Euro |
1 |
Rs.68.06 |
INFORMATION DETAILS
|
Information Gathered
by : |
SBA |
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|
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|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
14 |
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.