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Report Date : |
13.06.2012 |
IDENTIFICATION DETAILS
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Name : |
MORVAL ENGINEERS ( |
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Registered
Office : |
Flat No.208, Suyash Teracekondwa, Pune – 411048, Maharashtra |
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Country : |
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Date of
Incorporation : |
15.05.1995 |
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Com. Reg. No.: |
088391 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U28939MH1995PTC088391 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
PNEM14496G |
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PAN No.: [Permanent Account No.] |
AADCM5868N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Precision Machinery |
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No. of Employees
: |
41 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Dormant |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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Comments : |
Subject was incorporated in the year 1995. As per government, the
company status is shown as dormant. No further information could be made available
as it was unable to contact. The company can be considered
for business dealings at usual 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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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India |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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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
Unable to Contact the company
LOCATIONS
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Registered Office : |
Flat No.208, Suyash Teracekondwa, Pune – 411048, Maharashtra, India |
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E-Mail : |
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Website : |
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Factory: |
Plot No.A-45, MIDC, Chincholi, Mohol, Solapur, Maharashtra, India |
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Tel. No.: |
91-217-413255/2357445/6524785 (Continuously Ringing) |
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Fax No.: |
91-217-2357446 |
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Area: |
12000sq.fts |
DIRECTORS
AS ON 25.09.2001
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Name : |
Mr. Nagesh Laxman Malage |
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Designation : |
Director |
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Address : |
Flat No.208, Suyash Terrise-Kondhawa, Pune – 411048, Maharashtra,
India |
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Date of Birth/Age : |
13.08.1954 |
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Date of Appointment : |
15.05.1995 |
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Name : |
Mrs. Kamal Laxman Malage |
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Designation : |
Director |
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Address : |
Flat No.208, Suyash Terrise-Kondhawa, Pune – 411048, Maharashtra,
India |
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Date of Birth/Age : |
09.05.1966 |
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Date of Appointment : |
15.05.1995 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2001
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Names of Shareholders |
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No. of Shares |
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Nagesh Laxman Malage |
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8000 |
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Kamal Laxman Malage |
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2000 |
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Total |
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10000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Precision Machinery |
GENERAL INFORMATION
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No. of Employees : |
41 (Approximately) |
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Bankers : |
Bank of Maharashtra, Camp Branch Solapur, Solapur -
413001, Maharashtra, India |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 25.09.2001
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
NOT AVAILABLE
LOCAL AGENCY FURTHER INFORMATION
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Check
List by Info Agents |
Available
in Report (Yes / No) |
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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 |
Yes |
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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 |
No |
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10)
Designation of contact person |
No |
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11)
Turnover of firm for last three years |
No |
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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 |
No |
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15)
Capital in the business |
Yes |
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16)
Details of sister concerns |
No |
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17)
Major suppliers |
No |
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18)
Major customers |
No |
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19)
Payments terms |
No |
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20)
Export / Import details (if applicable) |
-- |
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21)
Market information |
-- |
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22)
Litigations that the firm / promoter involved in |
-- |
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23)
Banking Details |
Yes |
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24)
Banking facility details |
No |
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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 |
No |
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28)
Incorporation details, if applicable |
-- |
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29)
Last accounts filed at ROC |
-- |
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30)
Major Shareholders, if available |
-- |
FORM 8:
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This form is for |
Creation of charge |
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Corporate identity number of the company |
U28939MH1995PTC088391 |
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Name of the company |
MORVAL ENGINEERS (INDIA) PRIVATE LIMITED |
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Address of the registered office or of the
principal place of business in |
Flat No 208 Suyash Terracekondwa, Pune-
411048, Maharashtra, India |
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Type of charge |
Book Debts Floating Charge Others |
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Particular of charge holder |
BANK OF MAHARASHTRA |
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Nature of description of the instrument
creating or modifying the charge |
Composite Deed of Hypothecation for all
facilities executed on 31/03/2008. Deed of hypothecation of supply bills
executed on 14/05/2008. |
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Date of instrument Creating the charge |
31.03.2008 |
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Amount secured by the charge |
Rs.26.000 Millions |
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Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest 1)On Cash Credit Facility @ BPLR+1(Presently
14.25%) with monthly rests. 2)On
Cash credit (Bills) Facility @ BPLR+1(Presently 14.25%) with monthly
rests. 3)On Term Loan Facility @ BPLR+1(Presently
14.25%) with monthly rests. Terms of Repayment 1) On Cash Credit: On Demand. 2) On Cash Credit (Bills): From
Realization of Bills / on demand. 3) On Term Loan : Loan is to be repaid in
72 monthly installments @ 2.57 lakhs per month + interest as and when
applied from Oct.,2008. moratorium period is for 6 months up to Sept.,2008.
Interest during moratorium is to be serviced as and when applied. Margin 1) On Cash Credit: 25% 2) On Cash Credit (Bills): 25% 3) On Term Loan : 25% Extent and Operation of the charge The following facilities are
provided, 1) Cash Credit to the extent of 4.500
Millions. 2) Cash Credit (Bills) to the extent of 3.000 Millions. 3) Term
Loan to the extent of 18.500 Millions.
Against hypothecation in favour of bank all tangible and intangible
assets. Hypothecation of all the movables assets( including Stocks, Book
Debts, Plant and Machinery & Factory Equipment situated at Plot No. A -
45 MIDC Chincholi, Dist: Solapur. |
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Short particulars of the property charged |
The charge is created on following
property: All
the tangible and intangible assets such as all the Patents, Copyrights,
Trademarks, Goodwill, Intellectual Property Rights and all other rights, both
present and future and Borrower`s Stock of Raw Materials, Semi Finished and Finished Goods , Consumable Stores and
Spares , Biils Receivable, Book Debts, Plant and Machinery & Factory
Equipments lying and situated at Plot
No. A - 45 MIDC Chincholi, Dist: Solapur. |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.56.05 |
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1 |
Rs.86.69 |
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Euro |
1 |
Rs.69.98 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
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Report Prepared
by : |
SDA |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.