|
Report Date : |
24.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
SUNLAND RECYCLING INDUSTRIES LIMITED |
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|
|
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Registered
Office : |
A-501/507, Ramji House, 5th Floor, 30, Jambulwadi, |
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Country : |
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Date of
Incorporation : |
12.07.2011 |
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Com. Reg. No.: |
11-219683 |
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Capital
Investment / Paid-up Capital : |
Rs.180.027 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27101MH2011PLC219683 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS72175F |
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PAN No.: [Permanent Account No.] |
AAQCS2722J |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Non-Ferrous Metal and Ingots. |
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No. of Employees
: |
125 (Approximately) (In Office + In Factory) |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
- |
NB |
New Business |
- |
|
Status : |
New business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company establishing itself gradually. Company
started their business activity from October 2011. Company have successful
completed first eight months of business operation. Company has achieved
sizeable turnover in the first year of business operation. Trade relations
are reported to be fair. Business is active. Payments are unknown. 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Agency Name |
Rating |
|
CRISIL |
SME2 (HIGH) |
INFORMATION PARTED BY
|
Name : |
Mr. Mukesh Chaturvedi |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-22-40901600 |
|
Date : |
20.07.2012 |
LOCATIONS
|
Registered Office : |
A-501/507, Ramji House, 5th Floor, 30, Jambulwadi,
Kalbadevi Road, Mumbai – 400002, Maharashtra, India |
|
Tel. No.: |
91-22-40901600 |
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Fax No.: |
91-22-40901619 |
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E-Mail : |
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|
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|
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Factory : |
Survey No. 8/9/1/2, Village Karajgam, Silvassa – 396230, Dadra and Nagar Haveli, India |
|
Tel. No.: |
91-260-3298230 |
DIRECTORS
As on 01.06.2011
|
Name : |
Mr. Sushil Kumar Suraj Prakash Aggarwal |
|
Designation : |
Director |
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Address : |
17/33,Shakti Nagar, Delhi – 110007, India |
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Date of Birth/Age : |
28.08.1957 |
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DIN No.: |
01287783 |
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Name : |
Mr. Sanjiv Kumar Suraj Prakash Aggarwal |
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Designation : |
Director |
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Address : |
17/33,Shakti Nagar, Delhi – 110007, India |
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Date of Birth/Age : |
03.11.1965 |
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DIN No.: |
01287748 |
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Name : |
Mr. Surendra Kumar Prathaviraj Kachhara |
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Designation : |
Director |
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Address : |
8-B, Abhilasha Building, 46,August Kranti Marg, Gwaliya Tank, Mumbai –
400036, Maharashtra, India |
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Date of Birth/Age : |
20.03.1955 |
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DIN No.: |
01287721 |
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Name : |
Mr. Mahendrakumar Prithviraj Kachhara |
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Designation : |
Director |
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Address : |
9-D, Abhilasha Building, August Kranti Marg, Gwaliya Tank, Mumbai – 400036, Maharashtra, India |
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Date of Birth/Age : |
11.02.1962 |
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DIN No.: |
02283218 |
KEY EXECUTIVES
|
Name : |
Mr. Mukesh Chaturvedi |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 01.06.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Sushil Kumar Suraj Prakash Aggarwal |
|
4050000 |
|
Sanjiv Kumar Suraj Prakash Aggarwal |
|
450000 |
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Surendra Kumar Prathaviraj Kachhara |
|
2250000 |
|
Mahendrakumar Prithviraj Kachhara |
|
2250000 |
|
Narayan |
|
900 |
|
Lalit Mangilal Kumbhar |
|
900 |
|
Mahendra Kumar |
|
900 |
|
|
|
9002700 |
List of Allottees
As on 01.03.2012
|
Names of Allottees |
|
No. of Shares
Allotted |
|
|
|
|
|
Surendra P.Kachhara |
|
2250000 |
|
Mahendra P.Kachhara |
|
2250000 |
|
Sushil Kumar Agarwal |
|
4050000 |
|
Sanjeev Kumar Agarwal |
|
450000 |
|
B. R. Sonkar |
|
1 |
|
Foliage Properties, India |
|
1 |
|
Jayesh R.Shah |
|
1 |
|
Jolly S. Sonkar |
|
1 |
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Mahavir Ranka HUF |
|
1 |
|
Meenakshi Exports, India |
|
1 |
|
Neelam Sharma |
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1 |
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Pragnya V. Shah |
|
1 |
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Rasiklal M. Shah |
|
1 |
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Suresh B. Sonkar |
|
1 |
|
Susheel Jain |
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1 |
|
Vinod R. Shah |
|
1 |
|
Total |
|
9000012 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Non-Ferrous Metal and Ingots. |
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Imports : |
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Products : |
Scrap |
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Countries : |
Europe |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL INFORMATION
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Customers : |
Manufacturer |
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No. of Employees : |
125 (Approximately) (In Office + In Factory) |
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Bankers : |
State Bank of India, Mumbai, Maharashtra, India |
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Facilities : |
Cash Credit : Rs.500.000
Millions (From State Bank of India) |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
B. V. Gokhru and Company Chartered Accountants |
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Sister Concern : |
Sunland Alloys |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18002712 |
Equity Shares |
Rs.10/- each |
Rs.180.027 Millions
|
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FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW COMPANY
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
2250.000 |
Expected Sales (2012-2013) : Rs.4500.000 Millions
The above information has been parted by Mr. Mukesh Chaturvedi.
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
No |
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5) Type of Business |
Yes |
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6) Line of Business• |
Yes |
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7) Promoter’s background |
Yes |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last one years |
Yes |
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12) Profitability for last three years |
No |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
Yes |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
Yes |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
Yes |
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21) Market information |
-- |
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22) Litigations that the firm / promoter |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if applicable |
Yes |
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29) Last accounts filed at ROC |
No |
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30) Major Shareholders, if available |
Yes |
|
31) PAN of Proprietor/Partner/Director, if available |
No |
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32) Passport No of Proprietor/Partner/Director, if available |
No |
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33) Voter ID No of Proprietor/Partner/Director, if available |
No |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U27101MH2011PLC219683 |
|
Name of the company |
SUNLAND RECYCLING INDUSTRIES LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
A-501/507, Ramji House, 5th Floor, 30, Jambulwadi,
Kalbadevi Road, Mumbai – 400002, Maharashtra, India E-Mail id : lkchhajed@hotmail.com
|
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property |
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Particular of charge holder |
State Bank of India, Industrial Finance Branch, The Arcade, 2nd Floor,
World Trade Centre, Cuffe Parade, Mumbai – 400005, Maharashtra, India E-Mail id : sangita.p@sbi.co.in |
|
Nature of instrument creating charge |
Memorandum of Extension of Equitable Mortgage |
|
Date of instrument Creating the charge |
09.04.2012 |
|
Amount secured by the charge |
Rs.408.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest -- Terms of Repayment -- Margin -- Extent and Operation of the charge Equitable mortgage created by deposit of title deeds with State Bank
of India, State Bank of India acting for itself and as agents of Canara Bank
and ICICI Bank Limited as collateral to secure the credit limits aggregating
to Rs.408.000 Millions [State Bank of India: Rs.158.800 Millions, Canara Bank
Rs.50.000 Millions and ICICI Rs.200.000 Millions] on first charge basis
ranking pari passu amongst all the banks. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Barren land, partly Jirayat and Sada-pad land, bearing Gut/Survey No.
53 in Village Gajirewadi, Taluka Kavathe, District Sangli, Maharashtra, India |
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.55.76 |
|
|
1 |
Rs.86.80 |
|
Euro |
1 |
Rs.67.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
BSN |
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.