|
Report Date : |
29.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
MANMEET FABRIC PRIVATE LIMITED |
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Registered
Office : |
At Post Khede, Mukkam – Suttrepada, Taluka Dhule – 424302, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
17.08.2005 |
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Com. Reg. No.: |
11-155400 |
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Capital Investment
/ Paid-up Capital : |
R.0.100 Million |
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CIN No.: [Company Identification
No.] |
U17120MH2005PTC155400 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NSKM08017C |
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PAN No.: [Permanent Account No.] |
AAECM4205G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Dealer in all kinds of Yarns, Textile and Readymade Garments. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
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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 : |
-- |
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Comments : |
Though the company was incorporated in the year 2005. The company have
not started their business activity. As conformed with Mr. Vijay (Export Manager)
the company will start their business activity from October, 2012. Payments
are unknown. Then company can be considered for business dealing on a secure 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) |
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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 – Suttrepada, Taluka Dhule – 424302,
Maharashtra, India |
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Tel. No.: |
91-22-66619000 |
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Fax No.: |
91-22-66619090 |
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E-Mail : |
DIRECTORS
(AS ON 18.08.2011)
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Name : |
Mrs. Ruchi Vinay Patil |
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Designation : |
Director |
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Address : |
302, Purna Sir Pochkhanwala Road, Worli, Mumbai – 400025, Maharashtra,
India |
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Date of Birth/Age : |
16.08.1971 |
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Date of Appointment : |
29.06.2007 |
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DIN No.: |
00522834 |
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Name : |
Mr. Dilip Sonar |
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Designation : |
Director |
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Address : |
Jai Malhar Colony, Sakri Road, Dhule – 424001, Maharashtra, India |
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Date of Birth/Age : |
01.06.1973 |
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Date of Appointment : |
17.08.2005 |
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DIN No.: |
01423485 |
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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Atul Vasantrao Shinde |
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5000 |
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Dilip Sonar |
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5000 |
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Total |
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10000 |
(AS ON 16.05.2012)
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Names of Shareholders |
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No. of Shares |
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Ruchi Patil |
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110000 |
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Dilip Sonar |
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100000 |
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Total |
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210000 |
(AS ON 30.09.2011)
Equity Shares Break – up
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Category |
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Percentage |
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Directors or relatives of directors |
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50.00 |
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Other top fifty shareholders |
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50.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealer in all kinds of Yarns, Textile and Readymade Garments. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Divulged |
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Bankers : |
· Axis Bank Limited Royal Accordd IV, Lokhandwala Complex, Andheri (West), Mumbai –
400053, 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, Bhulehwar,
Mumbai – 400002, Maharashtra, India |
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Tel No.: |
91-22-65791224/ 66154195 |
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Mobile No.: |
91-9324725156/ 9323450396 |
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PAN No.: |
AABPA9113F |
CAPITAL STRUCTURE
(AS ON 18.08.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
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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 :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
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
|
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 |
0.525 |
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 |
0.625 |
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 |
0.019 |
0.001 |
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TOTAL BORROWING |
0.000 |
0.019 |
0.001 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.00 |
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TOTAL |
0.625 |
0.119 |
0.101 |
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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 |
0.075 |
0.075 |
0.075 |
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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 |
0.000 |
0.000 |
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Sundry Debtors |
0.000 |
0.000 |
0.000 |
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Cash & Bank Balances |
0.088
|
0.000 |
0.001 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
0.323
|
0.125 |
0.125 |
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Total
Current Assets |
0.411
|
0.125 |
0.126 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
0.000
|
0.180 |
0.175 |
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Other Current Liabilities |
0.000
|
0.000 |
0.000 |
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Provisions |
0.008
|
0.008 |
0.005 |
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Total
Current Liabilities |
0.008
|
0.188 |
0.180 |
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Net Current Assets |
0.403
|
(0.063) |
(0.054) |
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MISCELLANEOUS EXPENSES |
0.147 |
0.107 |
0.080 |
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TOTAL |
0.625 |
0.119 |
0.101 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.01
|
2.07 |
1.81 |
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Current Ratio (Current Asset/Current Liability) |
|
51.38
|
0.66 |
0.70 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info
Agents |
Available in Report (Yes/ No) |
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Year of Establishment |
Yes |
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Locality of the Firm |
Yes |
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Constitution of the Firm |
Yes |
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Premises details |
No |
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Type of Business |
Yes |
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Line of Business |
Yes |
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Promoter’s Background |
Yes |
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No. of Employees |
No |
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Name of Person Contacted |
No |
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Designation of Contact person |
No |
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Turnover of Firm for last three years |
No |
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Profitability for last three years |
No |
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Reasons for variation <> 20% |
----- |
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Estimation for coming financial year |
No |
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Capital in the business |
Yes |
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Details of sister concerns |
No |
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Major Suppliers |
No |
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Major Customers |
No |
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Payments Terms |
No |
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Export/ Imports Details (If applicable) |
No |
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Market Information |
----- |
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Litigations that the firm/ Promoters Involved in |
----- |
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Banking details |
Yes |
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Banking Facility Details |
No |
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Conduct of the Banking Account |
----- |
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Buyer visit details |
----- |
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Financials, if provided |
Yes |
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Incorporation details is applicable |
Yes |
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Last Accounts filed at ROC |
Yes |
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Major Shareholders, if available |
Yes |
NOTE:
The Registered office of the company has been
shifted from Vidyavardhini College, Plot No.23, Jai Malhar Colony, Sakhari Road,
Dhule, Maharashtra, India, to the present address w.e.f. 10.11.2008.
BUSINESS
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.
FORM 8:
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U17120MH2005PTC155400 |
|
Name of the
company |
MANMEET FABRIC
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
At Post Khede,
Mukkam – Sutrepada, Taluka Dhule – 424302, Maharashtra, India |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
State Bank of
India SME Branch,
Shivsagar Estate, Worli (South), Dr. A. B. Road, Mumbai – 400018, Maharashtra, India |
|
Nature of description
of the instrument creating or modifying the charge |
Agreement of Loan
- Cum - Hypothecation |
|
Date of
instrument Creating the charge |
17/05/2012 |
|
Amount secured by
the charge |
Rs.6.700 Millions
|
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest 3.25% Above base
rate + 1.00% (term premium) which is presently 10.00% p.a. Raising or falling
therewith, on daily products with monthly rests. Present effective rate =
14.25% p.a. Terms of
Repayment To be repaid
within 92 months including moratorium period of 11 months. The repayment at
quarterly interval starting from April 2013. Margin Term Loan/
DPG : 25% Extent and
Operation of the charge Term Loan :
Rs.6.700 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.56.92 |
|
|
1 |
Rs.88.91 |
|
Euro |
1 |
Rs.71.25 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
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.