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Report Date : |
06.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
GRIP TIGHT SHRINK FILMS PRIVATE LIMITED |
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Registered
Office : |
Plot No. F - 9/19(2), M.I.D.C., Industrial Area, Hingna, |
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Country : |
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Date of
Incorporation : |
02.05.2011 |
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Com. Reg. No.: |
55-216914 |
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Capital
Investment / Paid-up Capital : |
Rs.2.000 Millions |
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CIN No.: [Company Identification
No.] |
U25209MH2011PTC216914 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of PVC Shrink, Flexible Packaging |
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No. of Employees
: |
80 (Approximately) (In Office + In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a successor of S. b. Industries, a proprietory concern started
in the year 1999. 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 (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
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Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Ritesh Amidwar |
|
Designation : |
Director |
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Contact No.: |
91-9822566792 |
|
Date : |
04.06.2012 |
LOCATIONS
|
Registered Office / Factory : |
Plot No. F - 9/19(2), M.I.D.C., Industrial Area, Hingna,
Nagpur – 440016, Maharashtra, India |
|
Tel. No.: |
91-7104-238081 / 645066 |
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Mobile No.: |
91-9822566792 (Mr. Ritesh Amidwar) |
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Fax No.: |
91-7104-238081 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
As on 29.04.2011
|
Name : |
Mr. Arun Baburao Amidwar |
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Designation : |
Director |
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Address : |
162, Ramnagar, Nagpur – 440010, Maharashtra, India |
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Date of Birth/Age : |
10.11.1952 |
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Date of Appointment : |
02.05.2011 |
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DIN No.: |
00798908 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U25200MH1990PTC058203 |
GRIP
TIGHT PACKAGING (INDIA) PRIVATE LIMITED |
Director |
15-09-11 |
24-02-94 |
26-09-11 |
Active |
NO |
|
2 |
U25209MH2011PTC216914 |
GRIP
TIGHT SHRINK FILMS PRIVATE LIMITED |
Director |
02-05-11 |
02-05-11 |
- |
Active |
NO |
|
3 |
U55101MH2006PTC166304 |
VRG
HEALTHCARE PRIVATE LIMITED |
Director |
02-04-12 |
02-04-12 |
- |
Active |
NO |
|
Name : |
Mr. Ritesh Arun Amidwar |
|
Designation : |
Director |
|
Address : |
162, Ramnagar, Nagpur – 440010, Maharashtra, India |
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Date of Birth/Age : |
23.07.1978 |
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Date of Appointment : |
02.05.2011 |
|
DIN No.: |
00798978 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U25200MH2005PTC152894 |
POLYPET
FLEXIBLE PACKAGING PRIVATE LIMITED |
Director |
29-05-05 |
29-05-05 |
- |
Active |
NO |
|
2 |
U25209MH2011PTC216914 |
GRIP
TIGHT SHRINK FILMS PRIVATE LIMITED |
Director |
02-05-11 |
02-05-11 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.04.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Arun Baburao Amidwar |
|
500 |
|
Ritesh Arun Amidwar |
|
500 |
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|
|
1000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of PVC Shrink, Flexible Packaging |
|
|
|
|
Products : |
PVC
Plain/Printed Labels and Shrink Films ·
PVC Labels For HDPE Container ·
PVC Labels For Plastic Containers ·
PVC Labels For Packaging ·
PVC Labels For HDPE Jar ·
PVC Labels For Pet Plastic Bottles ·
PVC Shrink Films Laminated Films
and Pouches ·
Grocery Pouch ·
Confectionery Pouch ·
Packaging Film ·
Confectionery Packaging Film ·
Packaging Films |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Henkel |
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Customers : |
Wholesalers and Retailers ·
Jyothi
Laboratories Limited |
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No. of Employees : |
80 (Approximately) (In Office + In Factory) |
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Bankers : |
·
Axis Bank, Trishul, 3rd Floor,
Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad – 380006,
Gujarat, India. ·
Axis Bank, Hingna Branch, Nagpur – 440016,
Maharashtra, India |
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Facilities : |
Cash Credit : Rs.8.500 Millions
(From Axis Bank) |
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Banking
Relations : |
-- |
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Auditors : |
|
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Name : |
S V Ramanna and Company Chartered Accountants |
|
Address : |
Nagpur, Maharashtra, India |
CAPITAL STRUCTURE
As on 04.07.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.100/- each |
Rs.2.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.100/-
each |
Rs.2.000
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
|
65.000 |
15.000 |
Expected Sales (2012-2013) : Rs.130.000 Millions
The above information has been parted by Mr. Ritesh Amidwar.
LOCAL AGENCY FURTHER INFORMATION
Trade References:
· Henkel
· Jyothi Laboratories Limited
·
Vicco Vajradanti
Bankers Charges Report
as per Registry
|
Corporate
identity number of the company |
U25209MH2011PTC216914 |
|
Name of the
company |
GRIP TIGHT SHRINK
FILMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. F - 9/19(2), M.I.D.C., Industrial Area, Hingna, Nagpur – 440016, Maharashtra, India E-mail : nbplnagpur@hotmail.com
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|
This form is for |
Creation of charge |
|
Charge
identification (ID) number of the charge to be modified |
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Type of charge |
Movable property (not being pledge) |
|
Particular of
charge holder |
Axis Bank, Trishul, 3rd Floor, Opposite Samartheshwar
Temple, Law Garden Ellisbridge, Ahmedabad – 380006, Gujarat, India E-mail : K.Chengappa@axisbank.com
|
|
Nature of
instrument creating charge |
Hypothecation
deed dated 6.03.2012 |
|
Date of
instrument Creating the charge |
06.03.2012 |
|
Amount secured by
the charge |
Rs.7.500 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 4.00% Above base
rate i. e. 14.00% p. a. present base rate is 10.00% p. a. Terms of
Repayment As per the terms
and conditions of vide composite deed of hypothecation dated 04/02/2012 Margin 25% Extent and
Operation of the charge First and
Exclusive charge over all the stock in Trade both present and future
consisting stock including raw material, stock in process, finished goods,
cash and other current assets, more specifically described in vide composite
deed of hypothecation dated 06/03/2012 |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All tangible
movable machinery, plant machinery, fixtures, fittings other installation,
cranes, furniture, computers and other accessories vehicles together with
spares tools and accessories and all other article lying on the premises or
in the godowns of the borrowers or in the custody of nay person who are
mercantile agents of the borrowers or in the course of transit which may
hereinafter be brought stored or be lying or upon the said premises of the
borrowers in Schedule II to vide composite deed of hypothecation dated 06.03.2012 |
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.55.56 |
|
|
1 |
Rs.85.52 |
|
Euro |
1 |
Rs.69.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--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 |
|
27 |
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.