1. Summary Information
|
|
|
Country |
|
|
Company Name |
Himalayan Times Private Limited |
Principal Name 1 |
Mr. Nawal Kumar Sawarthia |
|
Status |
Moderate |
Principal Name 2 |
Mrs. Sheetal Nawalkumar Sawarthia |
|
|
|
Registration # |
08-176754 |
|
Street Address |
412 -A, 4th Floor, |
||
|
Established Date |
10.07.2002 |
SIC Code |
-- |
|
Telephone# |
91-11-41639744/ 41001647/ 48/ 49 |
Business Style 1 |
Distributors |
|
Fax # |
91-11-41436036 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Wristwatches |
|
|
# of employees |
Not Available |
Product Name 2 |
Cameras IT |
|
Paid up capital |
Rs.37,877,900/- |
Product Name 3 |
Lifestyles |
|
Shareholders |
Directors or relatives of Directors – 100% |
Banking |
ICICI Bank |
|
Public Limited Corp. |
No |
Business Period |
10 years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (32) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
- |
- |
- |
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
138,040,000 |
Current Liabilities |
25,589,000 |
|
Inventories |
78,649,000 |
Long-term Liabilities |
31,881,000 |
|
Fixed Assets |
7,245,000 |
Other Liabilities |
156,000 |
|
Deferred Assets |
4,785,000 |
Total Liabilities |
57,626,000 |
|
Invest& other Assets |
66,000 |
Retained Earnings |
142,965,000 |
|
|
|
Net Worth |
171,159,000 |
|
Total Assets |
228,785,000 |
Total Liab. & Equity |
228,785,000 |
|
Total Assets (Previous Year) |
222,174,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
Not Available |
Net Profit |
Not Available |
|
Sales(Previous yr) |
Not Available |
Net Profit(Prev.yr) |
Not Available |
MIRA
INFORM REPORT
|
Report Date : |
06.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
HIMALAYAN TIMES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
412 -A, 4th Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
10.07.2002 |
|
|
|
|
Com. Reg. No.: |
55-176754 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.37.878 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51394DL2002PTC176754 |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business : |
Distributors of various items like Wristwatches, Cameras IT, and
Lifestyles. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 680000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow but
correct. The company can be considered for business dealings with some
cautions. Profit and Loss Account of the company is not available. |
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) |
|
|
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 : |
412 -A, 4th Floor, |
|
Tel. No.: |
91-11-43211234/41639744/ 41001647/ 48/ 49 |
|
Fax No.: |
91-11-41436036 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office: |
Located at: ·
·
Chennai (Tamilnadu) ·
Secundrabad (Andhra Pradesh) ·
Mumbai ( ·
Kolkata (West Bangal) ·
·
Faridabaad (Haryana) ·
·
·
Jaipur (Rajasthan) ·
·
·
·
Guwahati ( ·
Ahemedabad ( ·
|
DIRECTORS
AS ON 31.03.2011
|
Name : |
Mr. Nawal Kumar Sawarthia |
|
Designation : |
Director |
|
Address : |
E-342, II Floor, Greater Kailash II, |
|
Date of Birth/Age : |
03.09.1972 |
|
Date of Appointment : |
10.07.2002 |
|
DIN No.: |
00905721 |
|
|
|
|
Name : |
Mrs. Sheetal Nawalkumar Sawarthia |
|
Designation : |
Director |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.; |
03151335 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2009
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Jagdish Kumar Sawarthia |
|
460000 |
|
Nawal Kumar Sawarthia |
|
962000 |
|
Pushpa Sawasthia |
|
1000 |
|
Arun Kumar |
|
500 |
|
Deepak Kumar Sawarthia |
|
2174000 |
|
Draupati Devi |
|
500 |
|
Jyothi Sawarthia |
|
1000 |
|
Kiran Agarwal |
|
500 |
|
Laxmi Devi |
|
74800 |
|
Marmata Sanghvi |
|
200 |
|
Naresh Kumar |
|
200 |
|
Neha Agarwal |
|
200 |
|
Sanjay Bajaj |
|
500 |
|
Saritha More |
|
200 |
|
Sarwan Agarwal |
|
200 |
|
Shyam Bajaj |
|
500 |
|
Sulochana Devi More |
|
25240 |
|
Sunita Devi Sawarthia |
|
51500 |
|
Sheeta Sawasrthia |
|
34750 |
|
|
|
|
|
Total |
|
3787790 |
AS ON 31.03.2009
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributors of various items like Wristwatches, Cameras IT, and
Lifestyles. |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
Bankers : |
·
HDFC Bank Greater Kailash 2, ·
ICICI Bank |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Parm and Smrn Chartered Accountants |
|
Address : |
20, Gopala Chamber, 76-A, Rani Zhansi Road, New Delhi-110 005, India |
|
PAN No.: |
AAJFP2311C |
CAPITAL STRUCTURE
As on 29.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs.80.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3787790 |
Equity Shares |
Rs.10/- each |
Rs.37.878 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 |
37.878 |
37.878 |
37.878 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
142.965 |
142.965 |
142.965 |
|
|
4] (Accumulated Losses) |
(9.684) |
(14.788) |
(18.485) |
|
|
NETWORTH |
171.159 |
166.055 |
162.358 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
18.961 |
0.543 |
0.985 |
|
|
2] Unsecured Loans |
12.920 |
13.636 |
15.726 |
|
|
TOTAL BORROWING |
31.881 |
14.179 |
16.711 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
203.040 |
180.234 |
179.069 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7.245 |
8.623 |
10.325 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.066 |
0.066 |
0.000 |
|
|
DEFERREX TAX ASSETS |
4.785 |
8.633 |
10.861 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
78.649
|
71.826
|
77.834
|
|
|
Sundry Debtors |
130.411
|
113.759
|
81.367
|
|
|
Cash & Bank Balances |
1.335
|
4.571
|
5.968
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
6.294
|
14.696
|
27.370
|
|
Total
Current Assets |
216.689
|
204.852
|
192.539
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
25.589
|
41.803
|
31.704
|
|
|
Provisions |
0.156
|
0.137
|
2.952
|
|
Total
Current Liabilities |
25.745
|
41.940
|
34.656
|
|
|
Net Current Assets |
190.944
|
162.912
|
157.883
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
203.040 |
180.234 |
179.069 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.34
|
0.34
|
0.32
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.42
|
4.88
|
5.56
|
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The registered office of the company has been shifted from No.101,
Prestige Court, # 201, 2nd Floor, K.H. Road, Bangalore – 560 027,
Karnataka to the present address w.e.f. 27.08.2007.
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U51394DL2002PTC176754 |
|
Name of the company |
HIMALAYAN TIMES PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
412 -A, 4th Floor, Chiranjeev Tower No.43, Nehru Place, New
Delhi – 110019, India E-mail : parmassociates@yahoo.co.in
|
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property Book debts Others (Stocks) |
|
Particular of charge holder |
State Bank of India, 233, Okhla Industrial Estate, New Delhi – 110020,
India |
|
Nature of instrument creating charge |
(i) Agreement of Loan Cum Hypothecation (ii) Letter of Arrangement |
|
Date of instrument Creating the charge |
09.02.2011 |
|
Amount secured by the charge |
Rs.40.400 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest Rate of interest 4.50% margin above Base Rate (Present Base Rate
-8.00%p.a.) resent effective rate 12.50% p.a. with monthly rests. Terms of Repayment NA Margin Cash Credit (on stocks of finished goods and Spares) -25%,
Receivables(Cover Period 180 days)-40% and Letter of Credit -25% Extent and Operation of the charge 100% Others The above is to secure the Credit Facilities of Rs 40.400 Millions
i.e. Cash Credit (Hypothecation) of Rs 20.000 Millions, Letter of Credit of
Rs 20.000 Millions and Forward Contract Limit of Rs 20.000 Millions (National
value @ 2.00%) Rs 0.400 Millions, granted by the Bank to the company. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Primary Security: Exclusive First Charge on entire current assets and
fixed assets (present and future) and Book Debts of the company. Collateral security: Equitable Mortgage of Freehold Second Floor of
property bearing no. E-342, Greater Kailash -II(with roof rights), New
Delhi in the of Smt. Jyothi Sawarthia
adm 250 sq.yards |
FIXED ASSETS:
·
Furniture and Fixtures
·
Computers
·
Office Equipment
·
AC and AC Equipment
·
Mobile Phone
·
Motor Car and Vehicle
WEBSITE DETAILS:
The Company, subject was incorporated in the year 2002, by a group of dedicated
and visionary entrepreneurs at
From a very humble beginning of Importing world famous branded watches
and analog cameras to
Owing to its excellent product quality, innovative product designs and
competitive pricing the brand name Navtech has gained quick popularity.
WORKING FOR
SUCCESS
Nav-Tech is acknowledged by the industry a mark of quality and
satisfaction. Their goal is to provide the most advanced reliable and
affordable IT products to their valued customers with superior product quality.
Navtech believes that selling the product is not the end; in fact it is
just the beginning of a long and gratifying relationship with the consumers.
Navtech teams are committed to this philosophy that the sky is unlimited and
waiting for exploration.
They continuously provide their customers with the best quality goods
and services at most reasonable prices. They make sure that only the best
quality products are offered to the customers. They stride forward for better
tomorrow with the best technology and innovative products for their customers.
Taking the operation thought 'Developing with the time and creating by
technology' and the work core 'To create value for their customer' Navtech is
dedicated to provide excellent and competitive IT product
CROSSING
THRESHOLDS
Taking into consideration years of experience of their motivated,
capable staff and with an in depth knowledge of their business, complimented
with a healthy management of the company, they are sure that Navtech fulfills
any present and future requirements in technology
MAJOR BUSINESS
ACTIVITIES OF THE COMPANY:
1. IT
2. Optical Storage Media (O.S.M)
3. Digital Storage Media (D.S.M)
4. Electrical and Power (E and P)
5. FMCG
6. Time-Pieces
DISTRIBUTION:
NAV-TECH: Group owned brand for the distribution of IT/OSM/DSM/E and P.
TRISA: Renowned Oral Hygienic Brand from
ROMASON: Exclusive Swiss made timepiece from
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 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.49.80 |
|
|
1 |
Rs.78.79 |
|
Euro |
1 |
Rs.65.74 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
32 |
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.