MIRA
INFORM REPORT
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Report Date : |
21.06.2012 |
IDENTIFICATION DETAILS
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Name : |
SANGINI TEXFAB PRIVATE LIMITED |
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Registered
Office : |
At Post Khede, Mukkam-Sutrepada, Dhule – 424 302, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
05.08.2005 |
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Com. Reg. No.: |
11-155159 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 million |
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CIN No.: [Company Identification
No.] |
U17120MH2005PTC155159 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Textile Articles. |
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No. of Employees
: |
Not Available |
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 : |
Yet to commence business |
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Payment Behaviour : |
Unknown |
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Litigation : |
-- |
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Comments : |
Though the company was incorporated in 2005, it is yet to commence its
commercial business activities. Payment terms are not known. 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.
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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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 |
LOCATIONS
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Registered Office : |
At Post Khede, Mukkam-Sutrepada, Dhule – 424 302, Maharashtra, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
As on 18.08.2011
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Name : |
Mr. Ramesh R. Chougale |
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Designation : |
Director |
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Address : |
At Post Sonali, Taluka Kagal, |
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Date of Birth/Age : |
01.06.1978 |
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Date of Appointment : |
05.08.2005 |
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DIN No.: |
01212986 |
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Other
directorship:
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Name : |
Mrs. Ashwini Patil |
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Designation : |
Director |
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Address : |
302, Purna Worli Sagar Housing Society, |
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Date of Birth/Age : |
21.12.1975 |
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Date of Appointment : |
05.08.2005 |
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DIN No.: |
01482202 |
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Other
directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.08.2011
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Names of Shareholders |
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No. of Shares |
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Ramesh R. Chougale |
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5000 |
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Ashwini Patil |
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5000 |
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Total
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10000 |
List of Allottees (As on 16.05.2012)
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Names of Allottees |
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No. of Shares |
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Mr. Ramesh R. Chougale |
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120000 |
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Mrs. Ashwini Patil |
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120000 |
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Total |
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240000 |
As on 18.08.2011
Equity Share Break up (Percentage of Total Equity)
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Trader of Textile Articles. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
·
Axis Bank Limited, Royal Accord IV, Lokhandwala Circle, Andheri (West), Mumbai
– 400 053, Maharashtra, India · State Bank of India SME Branch, Shivsagar Estate, Dr. Annie Besant Road, Worli (South), Mumbai - 400018, Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
N. Ambawat and Associates Chartered Accountant |
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Address : |
Office No.30, 2nd Floor, 132-C, Bhagatwadi, Bhuleshwar,
Mumbai – 400 002, Maharashtra, India |
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Tel. No.: |
91-22-65791224/ 66154195 |
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Mobile No.: |
91-9324725156/ 9323450396 |
CAPITAL STRUCTURE
After As on
18.08.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 million |
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Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 million |
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As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 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]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.207 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.307 |
0.100 |
0.100 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.307 |
0.100 |
0.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
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Capital work-in-progress |
0.076 |
0.076 |
0.076 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
0.000
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0.000 |
0.000 |
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Cash & Bank Balances |
0.103
|
0.045 |
0.067 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.000
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0.000 |
0.000 |
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Total
Current Assets |
0.103
|
0.045 |
0.067 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.000
|
0.132
|
0.127 |
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Other Current Liabilities |
0.000
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0.000
|
0.000 |
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Provisions |
0.008
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0.008
|
0.004 |
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Total
Current Liabilities |
0.008
|
0.140 |
0.131 |
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Net Current Assets |
0.095
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(0.095)
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(0.064) |
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MISCELLANEOUS EXPENSES |
0.136 |
0.119 |
0.088 |
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TOTAL |
0.307 |
0.100 |
0.100 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Turnover/ Gross
Receipt |
Nil |
Nil |
Nil |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
Nil |
Nil |
Nil |
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PROFIT BEFORE
TAX |
Nil |
Nil |
Nil |
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Less |
TAX |
Nil |
Nil |
Nil |
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PROFIT AFTER TAX
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Nil |
Nil |
Nil |
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Earnings Per
Share (Rs.) |
Nil |
Nil |
Nil |
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KEY RATIOS
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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Debt Equity Ratio (Total Liability/Networth) |
0.03 |
1.40
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1.31 |
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Current Ratio (Current Asset/Current Liability) |
12.88 |
0.32
|
0.51 |
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 |
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 |
No |
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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 |
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 |
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) |
No |
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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 |
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 |
Yes |
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28) Incorporation details, if applicable |
Yes |
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29) Last accounts filed at ROC |
Yes |
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30) Major Shareholders, if available |
Yes |
BUSINESS ACTIVITY:
The company has not carried on any commercial activities during the
year. The management is hopeful to commence commercial activities very soon and
waiting for future opportunities.
NOTE:
The registered office of the company has been shifted from 302, Purna, Sir Pochkhanwala Road, Worli,
Mumbai – 400 025, Maharashtra to the present address w.e.f.
01.12.2008.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U17120MH2005PTC155159 |
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Name of the
company |
SANGINI TEXFAB
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
At Post Khede, Mukkam-Sutrepada, Dhule – 424 302, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
· Book debts · Movable property (not being pledge) |
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Particular of
charge holder |
State Bank of India Sme Branch, Shivsagar Estate, Dr. Annie Besant Road, Worli (South), Mumbai - 400018, Maharashtra, India |
|
Nature of
instrument creating charge |
Agreement of Loan-Cum-Hypothecation (Sme-2) |
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Date of instrument
Creating the charge |
14.05.2012 |
|
Amount secured by
the charge |
Rs.7.500 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 3.25% above Base
Rate + 1.00% (term premium) which is presently 10% p. a. rising or falling
therewith on daily products with
monthly rests. present effective rate 14.25% p. a. Terms of Repayment Term Loan Repayment As Per Annexure Margin Term Loan/DPG :
25% Extent and Operation of the charge Term Loan: RS.
7.500 millions |
|
Short particulars
of the property charged |
Hypothecation of
looms, compressor and other movable assets acquired out of bank finance. |
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.55.86 |
|
|
1 |
Rs.87.93 |
|
Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPK |
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.