|
Report Date : |
26.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
CARDIO FITNESS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-23, Okhla Industrial Area, Phase II, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
07.04.1995 |
|
|
|
|
Com. Reg. No.: |
067255 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.200 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995PTC067255 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Provides Cutting edge fitness and spa products. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRAs Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 365812 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can be considered normal 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
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
B-23, Okhla Industrial Area, Phase II, New Delhi 110020, Delhi,
India |
|
Tel. No.: |
91-11-43274327 |
|
|
|
|
Bangalore : |
No.18, 80 Feet Road, IVth Block, Koramangala - 560034, Bangaluru,
India |
|
Tel. No.: |
91-80-25522122/3/4/5 |
|
|
|
|
Mumbai : |
1st Floor,
Sai Krupa Building, Samir Chandavarkar road, Dhanukar Wadi, Off M.G. Road,
Kandivali (West), Mumbai 400 067, Maharashtra, India |
|
Tel. No.: |
91-22-28021090 |
|
|
|
|
Chennai: |
II Floor, New Decor Towers, # 71, Dr. Radha Krishnan Salai, Mylapore, Chennai - 600 004, Tamil Nadu, India |
|
Tel. No.: |
91-44-28116161/2 |
|
|
|
|
Hyderabad: |
H.no. 6-3-1105/1/E,
Beside Jayagardens, Raj Bhavan Road, Somajiguda, |
|
Tel. No.: |
91-40-23412121 |
|
|
|
|
Kochi: |
CC 39/2109 A, Wisdom
Centre Building, CGround Floor, Chittoor Road |
|
Tel. No.: |
91-484-2376762 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Deepak Dewan |
|
Designation : |
Director |
|
Address : |
S-298, Grater Kailash - II, New Delhi 110048, Delhi, India |
|
Date of Birth/Age : |
26.10.1955 |
|
Date of Appointment : |
07.04.1995 |
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 |
U74899DL1975PTC007850 |
OKHLA POLYMERS PRIVATE LIMITED
|
Director |
17/02/1986 |
17/02/1986 |
- |
Active |
NO |
|
2 |
U74899DL1988PTC034411 |
PAPYRUS PRIVATE LIMITED |
Director |
27/12/1988 |
27/12/1988 |
- |
Active |
NO |
|
3 |
U74899DL1995PTC067255 |
CARDIO FITNESS (INDIA) PRIVATE
LIMITED |
Managing director |
07/04/1995 |
07/04/1995 |
- |
Active |
NO |
|
4 |
U93090DL2007PTC160057 |
CFI Hospitality Private
Limited |
Director |
02/03/2007 |
02/03/2007 |
- |
Active |
NO |
|
Name : |
Ms. Rekha Dewan |
|
Designation : |
Director |
|
Address : |
S-298, Grater Kailash - II, New Delhi 110048, Delhi, India |
|
Date of Birth/Age : |
05.01.1960 |
|
Date of Appointment : |
07.04.1995 |
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 |
U74899DL1975PTC007850 |
OKHLA POLYMERS PRIVATE LIMITED
|
Director |
17/02/1986 |
17/02/1986 |
- |
Active |
NO |
|
2 |
U74899DL1988PTC034411 |
PAPYRUS PRIVATE LIMITED |
Director |
27/12/1988 |
27/12/1988 |
- |
Active |
NO |
|
3 |
U74899DL1995PTC067255 |
CARDIO FITNESS (INDIA) PRIVATE
LIMITED |
Director |
07/04/1995 |
07/04/1995 |
- |
Active |
NO |
|
4 |
U93090DL2007PTC160057 |
CFI Hospitality Private
Limited |
Director |
02/03/2007 |
02/03/2007 |
- |
Active |
NO |
|
5 |
U74999DL2003PTC121272 |
BUZZ FITNESS PRIVATE
LIMITED |
Director |
03/03/2011 |
03/03/2011 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Deepak Dewan |
|
29980 |
|
Rekha Dewan |
|
45020 |
|
Papyrus Private Limited, Delhi |
|
159000 |
|
Rekha Dewan J/W Deepak Dewan |
|
86000 |
|
Total |
|
320000 |
LIST OF ALLOTTEES
AS ON 17.02.2012
|
Names of Shareholders |
|
No. of Shares |
|
Deepak Dewan |
|
59960 |
|
Rekha Dewan |
|
90040 |
|
Papyrus Private Limited, Delhi |
|
318000 |
|
Rekha Dewan J/W Deepak Dewan |
|
172000 |
|
Total |
|
640000 |
AS ON 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
49.68 |
|
Directors or relatives of Directors |
50.32 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provides Cutting edge fitness and spa products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
Corporation Bank, M-3 and 4, Greater Kailash Part-II, New Delhi -
110048, Delhi, India |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vohra and Sehgal Chartered Accountant |
|
Address : |
B-222, 2nd Floor, Greater Kailash Part-II, New Delhi -
110048, Delhi, India |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
320000 |
Equity Shares |
Rs.10/- each |
Rs.3.200
Millions |
|
|
|
|
|
(Out of the above
100000 equity shares have been issued as fully paid bonus shares by
capitalization of profit)
AFTER AS ON
30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
960000 |
Equity Shares |
Rs.10/- each |
Rs.9.600
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.200 |
3.200 |
3.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
88.253 |
76.146 |
65.713 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
91.453 |
79.346 |
68.913 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
68.500 |
53.762 |
57.515 |
|
|
2] Unsecured Loans |
2.600 |
3.600 |
7.650 |
|
|
TOTAL BORROWING |
71.100 |
57.362 |
65.165 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
162.553 |
136.708 |
134.078 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
32.173 |
31.475 |
28.002 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
17.692 |
18.375 |
18.375 |
|
|
DEFERREX TAX ASSETS |
1.040 |
0.845 |
1.092 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
70.881
|
61.462 |
80.110 |
|
|
Sundry Debtors |
36.575
|
23.951 |
33.568 |
|
|
Cash & Bank Balances |
19.172
|
13.997 |
10.994 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
37.099
|
28.753 |
37.236 |
|
Total
Current Assets |
163.727
|
128.163 |
161.908 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
18.201
|
21.757 |
40.333 |
|
|
Other Current Liabilities |
12.078
|
6.693 |
9.803 |
|
|
Provisions |
21.800
|
13.700 |
25.163 |
|
Total
Current Liabilities |
52.079
|
42.150 |
75.299 |
|
|
Net Current Assets |
111.648
|
86.013 |
86.609 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
162.553 |
136.708 |
134.078 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
20.012 |
17.839 |
19.221 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
8.100 |
6.500 |
7.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
11.912 |
11.339 |
12.021 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
19.013 |
24.914 |
NA |
|
|
TOTAL EARNINGS |
19.013 |
24.914 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
124.361 |
77.450 |
NA |
|
|
TOTAL IMPORTS |
124.361 |
77.450 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.22
|
11.12 |
10.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.22 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.35
|
1.25 |
2.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.15
|
3.04 |
2.15 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
|
5)
Type of Business |
Yes |
|
6)
Line of Business |
Yes |
|
7)
Promoter's background |
Yes |
|
8)
No. of employees |
No |
|
9)
Name of person contacted |
No |
|
10)
Designation of contact person |
No |
|
11)
Turnover of firm for last three years |
No |
|
12)
Profitability for last three years |
Yes |
|
13)
Reasons for variation <> 20% |
-- |
|
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) |
-- |
|
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 |
-- |
FINANCIAL
RESULTS:-
The working of the company
for the current year has resulted in a profit of Rs. 17.839 Millions (Rs.
19.221 Millions) before provision for tax of Rs.6.500 Millions (Rs. 7.200
Millions).
NOTE:
The registered office address of the company
has been shifted from E-218 G K-II, Grater Kailash, New Delhi 110048, Delhi,
India to present address
FORM 8:
|
Corporate identity number of the company |
U74899DL1995PTC067255 |
|
Name of the company |
CARDIO FITNESS (INDIA) PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
B-23, Okhla Industrial Area, Phase-II, New
Delhi Delhi 110020, India |
|
This form is for |
Creation of charge Modification of charge |
|
Type of charge |
Book Debts Movable Property Immovable Property Floating Charge |
|
Particular of charge holder |
Corporation Bank |
|
Nature of instrument creating charge |
Common Deed Of Hypothecation Of Movables/Assets/Debts Nature Of Facility Given By The Bank To
The Borrower Is As Follows:- 1) Cash Credit Rs. 60.000 Millions 2) Term Loan Review-I Rs.
1.300 Millions 3) DBC/ BDD Rs. 10.000 Millions 4) Import/Inland LC cum BG Rs. 60.000
Millions 5) Term Loan Sanction-III Rs.
3.000 Millions
Term Loan Sanction-IV
Rs. 3.000 Millions 6) C-MOBI Rs. 0.141 Million TOTAL Rs. 137.441 Millions |
|
Date of instrument Creating the charge |
31/12/2011 |
|
Amount secured by the charge |
Rs.137.441 Years |
|
Short particulars of the property charged |
Hypothecation of Stock and Book Debts, EMG of Flat Purchased, Hypothecation of all
Movables of Kolkatta and Mumbai show room which is financed by our Bank
Primary charge on all assets of the Company excluding those assets which are
purchased through loan from other bank EMG of Property No. S 298, Greater
Kailash, New Delhi standing in the name of Mrs. Rekha Dewan Hypothecation of
Plant and Machinery and other fixed assets of the Company excluding vehicles
First charge on commercial land and Building situated in Mouza Boinchtla J1
No. 4 KH No. 160 at Silver Arvade, Shop No. F-9 at 5, J B S Halden Avenue,
MPS Tiliala, Kolkata EMG of Property No. B23, Okhla Industrial Area,
Phase-II, New Delhi standing in the name of Okhla Polymers Private Limited Name of Guarantors:- 1) Mr.
Deepak Dewan 2) Mrs. Rekha Dewan 3) M/s Okhla Polymers Private Limited |
|
Date of instrument modifying the charge |
25/03/2008 |
|
Particulars of the present modification |
Limits is modified as under 1) Cash Credit Rs. 60.000 Millions 2) Term Loan Review-I Rs.
1.300 Millions 3) DBC/ BDD Rs. 10.000 Millions 4) Import/Inland LC cum BG Rs. 60.000
Millions 5) Term Loan Sanction-III Rs.
3.000 Millions
Term Loan Sanction-IV
Rs. 3.000 Millions 6) C-MOBI Rs. 0.141 Million TOTAL Rs. 137.441 Millions |
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 Intl
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 companys 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.56.53 |
|
|
1 |
Rs.88.09 |
|
Euro |
1 |
Rs.70.83 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SCs 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.