MIRA INFORM REPORT

 

 

Report Date :

06.03.2012

 

IDENTIFICATION DETAILS

 

Name :

BJ SERVICES COMPANY MIDDLE EAST LIMITED

 

 

Registered Office :

A 401, Landmark Chakala Suren Road, Andheri (East), Mumbai-400093, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

30.09.2002

 

 

Date of Incorporation :

01.10.1998

 

 

Capital Investment / Paid-up Capital :

Rs. 2.336 Millions

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMBI2259C

 

 

PAN No.:

[Permanent Account No.]

AAACB8529N

 

 

Legal Form :

Foreign Company

 

 

Line of Business :

Providing oil-well cementing, equipment rental and stimulation services.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

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 :

Foreign Registered Company

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is a foreign company registered in United Kingdom. Inspite of several approaches the management remains non-cooperative. Ms. Juliet D. from accounts department denied to disclose any information about the subject company. Given address is a principal place of business is India. Payments are unknown.

 

Initially, subject can be considered for business dealings on a 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

 

 

INFORMATION DECLINED BY

 

Name :

Ms. Juliet D

Designation :

Accounts Department

Contact No.:

91-22-66484200

Date :

28.02.2012

 

 

LOCATIONS

 

Registered Office :

A 401, Landmark Chakala Suren Road, Andheri (East), Mumbai-400093, Maharashtra, India

Tel. No.:

91-22-66484200

Fax No.:

Not Available

E-Mail :

Info@nangia.com

 

 

DIRECTORS

 

Not Available

 

 

KEY EXECUTIVES

 

Name :

Ms. Juliet D

Designation :

Accounts Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

Not Available

 

 

BUSINESS DETAILS

 

Line of Business :

Providing oil-well cementing, equipment rental and stimulation services.

 

 

GENERAL INFORMATION

 

No. of Employees :

Not Available

 

 

Bankers :

Not Available

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

S. R. Batliboi and Associates

Chartered Accountant

Address :

6th Floor, Express Towers, Nariman Point, Mumbai-400021, Maharashtra, India

Tel. No.:

91-22-22876485 / 6

Fax No.:

91-22-22876401

 

 

Contracting Counter Party :

S NO CONTRACT

CONTRACTING COUNTER PARTY

BVP/SC/141

Oil India Limited

GGCL/C&P/SRT/MST/2002/105

Gujarat Gas Company Limited

CB3LC5006

Carin Energy India Pty Limited

GEPL/2002-2003/01

Geoenpro Petroleum Limited

CY-OS/2/027

Hardy Exploration and Production (India) limited

PY-3/135/Cement

Hardy Exploration and Production (India) limited

SU 2 CA 0011

Niko Resources Limited

2001-GENK-E1-DR-O-059-MA

Reliance Industries Limited 

2001-KGD6-E1-DR-S-151-MA

Reliance Industries Limited 

MRBC/OBG/MM/SCON/180/BJ/01-02/PB-10016

Oil and Natural Gas Corporation Limited

CB3CC000010A

Carin Energy India Pty Limited

2001-KGD6-E1-DR-S-162-MB

Reliance Industries Limited

MR/DB/MAT/CT/CMT-SER/697(100)/2002-03/OT-1018/DYZDF0222 (For Category I)

Oil and Natural Gas Corporation Limited

MR/DB/MAT/CT/CMT-SER/697(100)/2002-03/OT-1018/DYZDF0223 (For Category II)

Oil and Natural Gas Corporation Limited

 

 

CAPITAL STRUCTURE

 

 

HEAD OFFICE ACCOUNT

30.09.2002

30.09.2001

Funds, Beginning of year

4.590

17.891

Rupee, Receipts from Customer

2.366

0.376

Remittances from Head Office

267.046

173.190

Expenses for the year

(265.186)

(181.196)

Payments made on behalf of Head Office

(8.877)

(5.670)

Amount received on behalf of Head Office

2.397

0.000

 

 

 

Total

2.336

4.591

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

(INDIAN OFFICE)

 

SOURCES OF FUNDS

 

 

30.09.2002

30.09.2001

 

 

 

 

HEAD OFFICE ACCOUNT

 

2.336

4.591

 

 

 

 

FUNDS END OF YEAR

 

2.336

4.591

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

16.375

11.402

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Cash & Bank Balances
 

0.179

0.216

 

Loans & Advances
 

18.471

18.291

Total Current Assets
 

18.650

18.507

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Accounts Payable

 

(12.803)

(10.063)

 

Accrued Expenses

 

(16.946)

(13.320)

 

Provisions for Gratuity
 

(2.940)

(1.935)

Total Current Liabilities
 

32.689

25.318

 
 

 

 

Net Current Liabilities

 

(14.039)

(6.811)

 

 

 

 

FUNDS END OF YEAR

 

2.336

4.591

 

 

 

STATEMENT OF EXPENSES FOR THE YEAR ENDED SEPTEMBER 30, 2012

(INDIAN OFFICE)

 

 

 

PARTICULARS

 

30.09.2002

30.09.2001

 

 

 

 

 

 

Travel and Conveyance

 

30.958

17.266

 

Employee Costs (Net of tax refund of Rs. 3.372 Millions (2001 - Nil) and interest thereon Rs. 0.508 Million (2001- Nil))

 

74.442

50.829

 

Contract Supplies

 

41.110

28.347

 

Rent

 

23.097

21.783

 

Repairs and Maintenance

 

27.642

16.300

 

Freight and Mobilization (Net of custom duty refund of Rs. 1.558 Millions (2001 - Nil))

 

35.314

21.483

 

Communication Expenses