1. Summary Information
|
|
|
Country |
|
|
Company Name |
JSSI HYDRAULICS
PRIVATE LIMITED |
Principal Name 1 |
Mr. Joginder Jagtar Singh |
|
Status |
Yet to commence
business |
Principal Name 2 |
Mr. Sukhwant Jagtar Singh |
|
|
|
Registration # |
55-165420 |
|
Street Address |
C-1/B,
Mansarover Garden, New Delhi – 110015, Delhi |
||
|
Established Date |
02.07.2007 |
SIC Code |
-- |
|
Telephone# |
91-11-25458355/8404/41421779 |
Business Style 1 |
Manufacturer and Exporter of Hydraulic Cylinder |
|
Fax # |
91-11-25469094 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.
4,850,000 |
Product Name 3 |
-- |
|
Shareholders |
Directors or
relatives of Directors (89.69%) |
Banking |
State Bank of
India |
|
Public Limited Corp. |
-- |
Business Period |
5 years |
|
IPO |
--- |
International Ins. |
- |
|
Public |
--- |
Rating |
Ca
(11) |
|
Related
Company |
|||
|
Relation
- Associates/Subsidiaries |
Country
|
Company
Name |
Jagtar Singh and Sons Hydrautic
Private Limited |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
4,613,000 |
Current Liabilities |
4,026,000 |
|
Inventories |
000 |
Long-term Liabilities |
59,697,000 |
|
Fixed Assets |
81,225,000 |
Other Liabilities |
000 |
|
Deferred Assets |
000 |
Total Liabilities |
63,723,000 |
|
Invest& other Assets |
8,485,000 |
Retained Earnings |
25,750,000 |
|
|
|
Net Worth |
30,600,000 |
|
Total Assets |
94,323,000 |
Total Liab. & Equity |
94,323,000 |
|
Total Assets (Previous Year) |
20,684,000 |
|
|
|
P/L Statement as of |
-- |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
-- |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
MIRA
INFORM REPORT
|
Report Date : |
30.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
JSSI HYDRAULICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-1/B, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
02.07.2007 |
|
|
|
|
Com. Reg. No.: |
55-165420 |
|
|
|
|
Paid-up Capital
: |
Rs. 4.850 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140DL2007PTC165420 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Hydraulic Cylinder |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Yet to commence business |
|
|
|
|
Payment Behaviour : |
--- |
|
|
|
|
Litigation : |
--- |
|
|
|
|
Comments : |
Even though the company was incorporated in the year 2007, the company
has not yet started its business activities. Mr. Jayant, the accountant has confirmed
that the subject company will start its business activities from the year
2014. The net worth of the company appears to be sound. Initially, 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
|
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/Head Office : |
C-1/B, |
|
Tel. No.: |
91-11-25458355/8404/41421779 |
|
Fax No.: |
91-11-25469094 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plant No1 – 46 Plant No2 - 84, Nangali Sakrawati Extn., Nagafgarh, New
Delhi-110 043, |
|
Tel. No.: |
91-11-25321558/25321472 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Selaqui Plot No. E-1 Industrial Area Selaqui, Dehradun, Uttra khand, |
|
|
|
|
Factory 3 : |
Plot No. 39, Sector 4B, HSIDC, Bahadurgarh, |
|
|
|
|
Sales Office : |
Plot No-12/1A, South Phase, Ambattur
Industrial Estate, Near Bus Depot Chennai-600058, |
|
Tel. No.: |
44-42180123,32475687 |
|
Fax No.: |
44-42180080 |
|
E-Mail : |
|
|
|
|
|
Ludhiana Sales Office : |
Daba Lohara Road, Opp. Police Chowki,
Village Daba, Ludhiana, Punjab, India |
|
|
|
|
Sales and Marketing Office: |
India Corporation Building No. 142/6,
Gundavli Village, Taluka Bhiwandi, Dist. Thane, Maharashtra, India |
DIRECTORS
As On 30.09.2011
|
Name : |
Mr. Joginder Jagtar Singh |
|
Designation : |
Director |
|
Address : |
Plot No. 46, Phase-1, Nangali Sakravati Extension, Najafgarh Road, New
Delhi – 110059, Delhi, India |
|
Date of Birth/Age : |
17.08.1968 |
|
Date of Appointment : |
02.07.2007 |
|
DIN No.: |
01076320 |
|
|
|
|
Name : |
Mr. Sukhwant Jagtar Singh |
|
Designation : |
Director |
|
Address : |
C-1/B, |
|
Date of Birth/Age : |
10.08.1968 |
|
Date of Appointment : |
02.07.2007 |
|
DIN No.: |
01076290 |
|
Name : |
Mr. Hardeep Jagtar Singh |
|
Designation : |
Director |
|
Address : |
C-1/B, |
|
Date of Birth/Age : |
12.04.1966 |
|
Date of Appointment : |
02.07.2007 |
|
DIN No.: |
01076306 |
Other Directorship
|
|
Name : |
Mr. Jagtar Bhagat Singh |
|
Designation : |
Director |
|
Address : |
C-1/B, |
|
Date of Birth/Age : |
16.04.1938 |
|
Date of Appointment : |
02.07.2007 |
|
DIN No.: |
01076329 |
Other Directorship
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
S. Hardeep Singh |
|
77500 |
|
S. Jagtar Singh |
|
77500 |
|
S. Joginder Singh |
|
77500 |
|
S. Sukhwant Singh |
|
77500 |
|
Upkar Kaur |
|
45000 |
|
Ranjit Kaur |
|
40000 |
|
Rajwant Kaur |
|
40000 |
|
Elegant Trexim Private Limited, Kolkata |
|
25000 |
|
Blooming Commodities Private Limited, Kolkata |
|
25000 |
|
Total |
|
485000 |
As On 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
89.69 |
|
Bodies corporate |
10.31 |
|
Total |
100.00 |
List of Allottee as on 30.03.2012
|
Names of Allottee |
|
No. of Shares |
|
Kesri Industrial Lab Private Limited, Delhi |
|
4000 |
|
Lancer Construction Private Limited, Delhi |
|
16000 |
|
Natraj Capital and Credit Private Limited,
Delhi |
|
50000 |
|
Beeta Telecom Private Limited, Delhi |
|
19000 |
|
Total |
|
89000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Hydraulic Cylinder |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
|
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K K Kohli and Company Chartered Accountant |
|
Address : |
16 RDC Advocates Chambers, Raj Nagar, |
|
Pan No.: |
AAGFK4316H |
|
|
|
|
Associates/Subsidiaries : |
Address:
Address: Chennai, |
CAPITAL STRUCTURE
As On 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
485,000 |
Equity Shares |
Rs. 10/- each |
Rs. 4.850
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 |
4.850 |
4.350 |
4.350 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
25.750 |
16.250 |
16.250 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
30.600 |
20.600 |
20.600 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
46.280 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
13.417 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
59.697 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
90.297 |
20.600 |
20.600 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
81.225 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
6.871 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000 |
0.000 |
0.000 |
|
|
Cash & Bank Balances |
1.752
|
0.086
|
0.092 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
2.861
|
19.849 |
19.849 |
|
Total
Current Assets |
4.613
|
19.935 |
19.941 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
4.026
|
0.084 |
0.069 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
4.026
|
0.084 |
0.069 |
|
|
Net Current Assets |
0.587
|
19.851 |
19.872 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
1.614 |
0.749 |
0.728 |
|
|
|
|
|
|
|
|
TOTAL |
90.297 |
20.600 |
20.600 |
|
DEVELOPMENT
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
Bank Charges |
0.001 |
0.003 |
0.003 |
|
|
Printing, Stationery and Postage |
0.000 |
0.001 |
0.001 |
|
|
Traveling and Conveyance (Directors) |
0.000 |
0.001 |
0.001 |
|
|
Development Expenses |
0.000 |
0.000 |
0.560 |
|
|
Advertisement |
0.000 |
0.003 |
0.000 |
|
|
Telephone Charges |
0.001 |
0.001 |
0.001 |
|
|
Fees and Subscription |
0.003 |
0.004 |
0.000 |
|
|
Auditors Remuneration |
0.015 |
0.015 |
0.015 |
|
|
Miscellaneous Expenses |
0.001 |
0.001 |
0.001 |
|
|
Brought Forward pre-operative expenses |
0.028 |
0.000 |
0.000 |
|
|
Pre-operative expenses pending capitalisation carried to balance sheet
|
0.048 |
0.028 |
0.581 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.08
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14
|
237.32 |
289.00 |
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 |
No |
|
13)
Reasons for variation <> 20% |
-- |
|
14)
Estimation for coming financial year |
No |
|
15)
Capital in the business |
Yes |
|
16)
Details of sister concerns |
Yes |
|
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 |
Yes
|
ACCOUNTS AND
PROGRESS:
The accounts of the company for the year show development expenditure amounting to Rs.0.865 million which has been carried to balance sheet and shall be capitalized when the company will commence commercial activities.
The company had acquired land in Bahadurgarh and construction of factory is commenced. Also, the directors are in the process of acquiring machines to set up the project of manufacturing hydraulic cylinders and are hopeful for starting the commercial activities during the coming year.
Form 8
|
Corporate identity number of the company |
U74140DL2007PTC165420 |
|
Name of the company |
JSSI HYDRAULICS
PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
C-1/B, Mansarover
Garden, New Delhi – 110015, Delhi, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Others (Corporate Guarantee) |
|
Particular of charge holder |
State Bank of India,
Commercial Branch, vardhman Trade center, DDA Building, Nehru Place, New
Delhi – 110019, India Email -
rajiv.raman@sbi.co.in |
|
Nature of instrument creating charge |
Deed of Guarantee for overall limit (C-4) |
|
Date of instrument Creating the charge |
28.07.2011 |
|
Amount secured by the charge |
Rs. 115.500 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest NA being a corporate guarantee Terms of Repayment on demand Margin NA being a corporate guarantee Extent and Operation of the charge 100% First exclusive charge Others Nil |
|
Short particulars of the property charged |
Credit facilities sanctioned to M/s JAGTAR
SINGH & SONS HYDRAULICS PRIVATE LIMITED further also secured by corporate
guarantee of the company . |
AS PER WEBSITE
DETAILS
PROFILE:
Jagtar Singh and Sons (
Headquartered in
Over 3 decades of experience coupled with deep engineering expertise, scalable manufacturing and consistent Quality make us a preferred source to OEMs the world over.
The cylinders run efficiently on Material and Cargo Handling Equipment such as pick and carry cranes, Construction and Earthmoving Equipment such as backhoes, Industrial equipment and Special applications.
Today, they are among the top five Hydraulic Cylinder
manufacturers in
Besides manufacturing hydraulic cylinders, Jagtar Singh and
Sons (
- Water Cooled Molds for casting copper billets
- Precision Tie-Rods upto 10 meters long for Heavy Duty Presses
History:
1987 Registered
with Small Scale Industries for turning and grinding job works.
1992 The
company started operations with design and manufacture of Water Cooled Moulds to
meet the demand of extruder and rolling mills for copper, cupro-nickel and
brass.
2000 Developed
wide range of hard chrome plated piston rods for various applications
2001 Imported
its first consignment for honed, skived and burnished cold drawn seamless tubes
from
2006 Launched
hydraulic cylinders for pick and carry cranes with supplies to major O. E. M.
in north
2007 Expanded
the machine shop with implementing CAD/CAM technology. Implemented ISO 9001
quality systems. Opened first sales cum branch office in
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.56.30 |
|
|
1 |
Rs.88.06 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NLM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
- |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
- |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
11 |
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.