MIRA
INFORM REPORT
|
Report Date : |
28.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
HUNTSMAN PERFORMANCE PRODUCTS (INDIA) PRIVATE LIMITED (w.e.f.
04.08.2011) |
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|
|
|
Formerly Known
As : |
LAFFANS FINE CHEMICALS PRIVATE LIMITED
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Registered
Office : |
Plot No.321, G.I.D.C., Panoli, Ankleshwar – 394 116, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
18.08.2010 |
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Com. Reg. No.: |
04-062014 |
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Capital
Investment / Paid-up Capital : |
Rs.24.600
Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U24100GJ2010PTC062014 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDL00551F |
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PAN No.: [Permanent Account No.] |
AABCL9521H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Petrochemicals. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Yet to commence business activity |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Though the company was incorporated in the year 2010. But the company
has not started with their business activity. Payment terms are unknown. The company can be considered for business dealings 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.
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
Management non-cooperative
LOCATIONS
|
Registered Office : |
Plot No.321, G.I.D.C., Panoli, Ankleshwar – 394 116, |
|
Tel. No.: |
91-2646-272009 / 272437 |
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Fax No.: |
91-2646-272429 |
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E-Mail : |
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Head Office : |
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Tel. No.: |
91-22-40506565 |
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Fax No.: |
91-22-40506300 |
DIRECTORS
As on 26.09.2011
|
Name : |
Mr. Patrick Albert Peter Verraes
|
|
Designation : |
Director |
|
Address : |
Annegijsboslaan, Overijse-3090 |
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Date of Birth/Age : |
20.09.1972 |
|
Date of Appointment : |
02.04.2011 |
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DIN No.: |
03155820 |
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|
|
|
Name : |
Mr. Deep Halendra Dholakia |
|
Designation : |
Director |
|
Address : |
503, Silver
Palm, |
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Date of Birth/Age : |
24.01.1969 |
|
Date of Appointment : |
29.03.2011 |
|
DIN No.: |
03466012 |
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|
|
|
Name : |
Mr. Stephen James Stilliard |
|
Designation : |
Director |
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Address : |
10, Prinsep
Link, #12-18, Singapore-187948 |
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Date of Birth/Age : |
18.03.1952 |
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Date of Appointment : |
29.03.2011 |
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DIN No.: |
03475786 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Huntsman International ( |
|
2459999 |
|
Deep Halendra Dholakia |
|
1 |
|
Total |
|
2460000 |
As on 29.09.2011
|
Names of Allottee |
|
No. of Shares |
|
Huntsman Investments ( |
|
500000 |
|
Total |
|
500000 |
As on 26.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Petrochemicals. |
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|
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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|
|
|
Bankers : |
Axis Bank Limited, Corporate Banking Branch, Axis House, Ground Floor,
Bombay Dyeing Mills Compound, P.B. Marg, Worli, Mumbai – 400 025, Maharashtra,
India |
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|
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Attar and Associates Chartered Accountants |
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Address : |
216, Sai Vihar, |
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Income-tax PAN of
auditor or auditor's firm : |
AACFA2329N |
CAPITAL STRUCTURE
After 26.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2960000 |
Equity Shares |
Rs.10/- each |
Rs.29.600
Millions |
|
|
|
|
|
As on 26.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2460000 |
Equity Shares |
Rs.10/- each |
Rs.24.600
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2460000 |
Equity Shares |
Rs.10/- each |
Rs.24.600 Millions
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
24.600 |
|
|
2] Share Application Money Pending Allotment |
|
|
350.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
374.600 |
|
|
LOAN FUNDS |
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|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
374.600 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
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DEFERRED TAX ASSETS |
|
|
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
348.425 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
24.500 |
|
Total
Current Assets |
|
|
372.925 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.001 |
|
|
Other Current Liabilities |
|
|
0.022 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.023 |
|
|
Net Current Assets |
|
|
372.902 |
|
|
|
|
|
|
|
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MISCELLANEOUS EXPENSES |
|
|
1.698 |
|
|
|
|
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|
|
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TOTAL |
|
|
374.600 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
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|
|
|
|
|
|
Income |
|
|
0.000 |
|
|
|
Other Income |
|
|
0.000 |
|
|
|
TOTAL |
|
|
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
|
|
0.000 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
0.000 |
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|
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|
|
|
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Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.000 |
|
|
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|
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|
|
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|
PROFIT BEFORE
TAX |
|
|
0.000 |
|
|
|
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|
|
|
|
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Less |
TAX |
|
|
0.000 |
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PROFIT AFTER TAX
|
|
|
0.000 |
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Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
|
|
0.000 |
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|
|
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BALANCE CARRIED
TO THE B/S |
|
|
0.000 |
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|
Earnings Per
Share (Rs.) |
|
|
0.00 |
|
%20PRIVATE%20LIMITED%20-%20188732%2028-Jul-2012_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
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|
31.03.2011 |
|
PAT / Total Income |
(%) |
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|
0.00 |
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Net Profit Margin (PBT/Sales) |
(%) |
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|
0.00 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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|
0.00 |
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Return on Investment (ROI) (PBT/Networth) |
|
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|
0.00 |
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Debt Equity Ratio (Total Liability/Networth) |
|
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|
0.00 |
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Current Ratio (Current Asset/Current Liability) |
|
|
|
16214.13 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2011 (Rs.
in millions) |
|
Sundry Creditors
|
|
|
- Creditors due small micro enterprises |
0.000 |
|
- Creditors due others |
0.001 |
|
Total |
0.001 |
|
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 |
No |
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5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
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7) Promoter’s background |
Yes |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
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10) Designation of contact person |
No |
|
11) Turnover of firm for last 7 months (Approximately) |
Yes |
|
12) Profitability for last 7 months (Approximately) |
Yes |
|
13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
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 |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
|
31) PAN of Proprietor/Partner/Director, if available |
No |
|
32) Passport No of Proprietor/Partner/Director, if available |
No |
|
33) Voter ID No of Proprietor/Partner/Director, if available |
No |
OPERATIONAL
REVIEW:
The Company has not
commenced the commercial operation during the period; However, Pursuant to the
approval of the scheme of demerger of the Ankleshwar unit of Laffans
Petrochemicals Limited with the appointed date of 2nd April, 2011,
the company took over the running business of their demerged undertaking on a
going concern basis.
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U24100GJ2010PTC062014 |
|
Name of the company |
LAFFANS FINE CHEMICALS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
Plot No. 321, G.I.D.C., Panoli, Ankleshwar – 394 116, E-Mail: pratik_shah@huntsman.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Others (Stock of Raw Materials, Work in Progress, Finished Goods,
Plant and Machinery etc) |
|
Particular of charge holder |
CIN No.: L65110GJ1993PLC020769 Axis Bank Limited, Corporate Banking Branch, Axis House, Ground Floor,
Bombay Dyeing Mills Compound, P.B. Marg, Worli, Mumbai – 400 025,
Maharashtra, India E-Mail : suyashri@vsnl.com |
|
Nature of instrument creating charge |
Composite Hypothecation Deed (Current Assets, Movables, Plant and
Machinery) {CHD} dated 02.04.2011. |
|
Date of instrument Creating the charge |
02.04.2011 |
|
Amount secured by the charge |
Rs.820.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest CC/WCDL/FCNR (B) and TL - Base rate + 2.50% p.a. EPC/PCFC/PSC/PSCFC (sub limit of CC) Upto 180 days @ Base rate + 1.25%
p.a. Other limit as per sanction letter or as stipulated by bank from time
to time. Terms of Repayment As per sanction letter or as stipulated by Bank from time to time. Margin CC/WCDL/FCNR(B)-Raw Material, Stock in Progress, Finished Goods, Book
Debts (cover period 90 days) -25% EPC/PCFC/PSC/PSCFC (sub limit of CC) -10%, LC, BG (sub limit of CC), Buyer credit -5%, Other limit as per sanction letter or as stipulated by bank from time
to time. Extent and Operation of the charge Bank granted Credit facilities aggregate to Rs.820.000 millions,
secured by 1. Exclusive charge for WC facilities and 2nd charge for TL
facility on present and future stock of RM, SIP, FG etc lying at Company's
premises or in transit and BDs, o/s monies, receivable, etc due and owing to
Company in course of its business, 2. 2nd charge for WC facilities and excl charge for TL
facility on movable. Plant and Machinery, Furniture and Fixture etc. lying at
Company's premises at Plot No.321, GIDC, Panoli, Ankleshwar or elsewhere. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Exclusive charge for WC facilities and 2nd charge for TL
facility present and future stock of RM, SIP, FG etc. lying at Company's
premises or elsewhere or in transit Exclusive charge for WC Credit facility and 2nd charge for
TL facility present and future Book-debt, o/s monies, receivable, claims etc
due and owing to Company in course of its business. 2nd charge for WC facilities and Exclusive charge for TL
facility present and future movable Plant and Machinery, Furniture and
Fixtures etc. lying at Company's premises at Plot No.321, GIDC, Panoli,
Ankleshwar or elsewhere. |
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.55.41 |
|
|
1 |
Rs.86.93 |
|
Euro |
1 |
Rs.68.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
SMN |
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.