1. Summary Information
|
|
|
Country |
|
|
Company Name |
QUANTUM CLOTHING INDIA PRIVATE LIMITED |
Principal Name 1 |
Richard John Woods |
|
Status |
Yet to Commence Business |
Principal Name 2 |
Carl Pate |
|
|
|
Registration # |
01-056537 |
|
Street Address |
Plot No 12, |
||
|
Established Date |
05.12.2007 |
SIC Code |
-- |
|
Telephone# |
91-8924-660453 |
Business Style 1 |
Exporter |
|
Fax # |
91-8924-237005 |
Business Style 2 |
Manufacturer |
|
Homepage |
http://www.quantumclothing.com
|
Product Name 1 |
Quantum Hosieries |
|
# of employees |
Not Available |
Product Name 2 |
Quantum Lingerie |
|
Paid up capital |
Rs.50,675,510/- |
Product Name 3 |
Quantum Shirts |
|
Shareholders |
Directors Relatives –
100% |
Banking |
The Hong Kong Shanghai
Banking Corporation Limited |
|
Public Limited Corp. |
No |
Business Period |
5 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ca |
|
Related Company |
|||
|
Relation |
Country |
Company Name |
CEO |
|
Holding Company |
-- |
Quantum Clothing Group Limited |
-- |
|
Note |
- |
||
2. Summary Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
4,438,000 |
Current Liabilities |
3,034,000 |
|
Inventories |
0,000 |
Long-term Liabilities |
0,000 |
|
Fixed Assets |
23,070,000 |
Other Liabilities |
0,000 |
|
Deferred Assets |
000 |
Total Liabilities |
3,034,000 |
|
Invest& other Assets |
46,040,000 |
Retained Earnings |
0,000 |
|
|
|
Net Worth |
70,514,000 |
|
Total Assets |
73,548,000 |
Total Liab. & Equity |
73,548,000 |
|
Total
Assets (Previous Year) |
23,617,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
274,000 |
Net Profit |
(2,979,000) |
|
Sales(Previous yr) |
0,000 |
Net Profit(Prev.yr) |
(2,229,000) |
MIRA
INFORM REPORT
REVISED REPORT
|
Report Date : |
12.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
QUANTUM CLOTHING INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No 12, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
05.12.2007 |
|
|
|
|
Com. Reg. No.: |
01-056537 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.50.676 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17120AP2007FTC056537 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
VPNQ00018E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACQ1640H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Exporter, Manufacturer, Distributor and Supplier of Quantum
Lingerie’s, Quantum Shirts, Quantum Hosieries. |
|
|
|
|
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 : |
Yet to Commence Business |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of Quantum Clothing Group
Limited, The company 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) |
|
|
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/ Factory : |
Plot No 12, |
|
Tel. No.: |
91-8924-660453 |
|
Mobile No.: |
91-8934202197 (Mr. Richard) |
|
Fax No.: |
91-8924-237005 |
|
E-Mail : |
cv2quantum@india.com
|
|
Website : |
http://www.quantumclothing.com
|
|
|
|
|
Head Office : |
|
|
Tel. No.: |
+44 (0) 1623 447200 |
|
Fax No.: |
+44 (0) 1623 447201 |
|
|
|
|
Branches : |
Located at
|
DIRECTORS
As on30.09.2011
|
Name : |
Richard John Woods |
|
Designation : |
Director |
|
Address : |
3 All Saints Close Asfordby, Melton Mowbray,
Leicestershire, LE143TF, |
|
Date of Birth/Age : |
06.07.1959 |
|
Date of Appointment : |
05.12.2007 |
|
DIN No.: |
01774747 |
|
|
|
|
Name : |
Carl Pate |
|
Designation : |
Director |
|
Address : |
Christmas Cottage, Birch Cross, Marchington, Uttoxeter,
ST148NX, |
|
Date of Birth/Age : |
28.05.1968 |
|
Date of Appointment : |
05.12.2001 |
|
DIN No.: |
01774775 |
|
|
|
|
Name : |
Michael David Shotton |
|
Designation : |
Director |
|
Address : |
Broad Close, |
|
Date of Birth/Age : |
09.03.1956 |
|
Date of Appointment : |
05.12.2007 |
|
DIN No.: |
01774822 |
|
|
|
|
Name : |
David James Taylor |
|
Designation : |
Whole-time director |
|
Address : |
24, |
|
Date of Birth/Age : |
24.11.1952 |
|
Date of Appointment : |
15.10.2010 |
|
DIN No.: |
03274800 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Quantum Clothing Group Limited, |
|
13,409,331 |
|
Carl Pate (Nominee of Quantum Clothing Group Private Limited) |
|
1 |
|
Bramhope Group Holdings Limited, |
|
1 |
|
TOTAL |
|
13,409,333 |
As on 31.01.2012
|
Names of Shareholders |
|
No. of Shares |
|
Quantum Clothing Group Limited, |
|
5,818,356 |
|
TOTAL |
|
5,818,356 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter, Manufacturer, Distributor and Supplier of Quantum
Lingerie’s, Quantum Shirts, Quantum Hosieries. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
The Hong Kong Shanghai Banking Corporation Limited, No 7, Mahatma
Gandhi Road, Bangalore – 560001, Karnataka, India |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Suresh Surana and Associates Chartered Accountant |
|
Address : |
13th Floor, Bakhtawar 299, Nariman Points, Mumbai – 400021,
|
|
Tel. No.: |
91-22-66515570 |
|
Fax No.: |
91-22-22875771 |
|
E-Mail : |
|
|
PAN.: |
AAQFS7647M |
|
|
|
|
Holding Company : |
Quantum Clothing Group Limited |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25250000 |
Equity Shares |
Rs.10/- each |
Rs.252.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
19227689 |
Equity Shares |
Rs.10/- each |
Rs.192.277
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5067551 |
Equity Shares |
Rs.10/- each |
Rs.50.676
Millions |
|
|
|
|
|
Notes: The above equity share are held by the
holding company Quantum Clothing Group Limited,
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
50.676 |
0.100 |
|
|
2] Share Application Money |
|
25.046 |
25.537 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(5.208) |
(2.229) |
|
|
NETWORTH |
|
70.514 |
23.408 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
70.514 |
23.408 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
23.070 |
23.070 |
|
|
Capital work-in-progress |
|
46.040 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
|
4.336 |
0.087 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.102 |
0.460 |
|
Total
Current Assets |
|
4.438 |
0.547 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
2.953 |
0.209 |
|
|
Other Current Liabilities |
|
0.081 |
0.000 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
3.034 |
0.209 |
|
|
Net Current Assets |
|
1.404 |
0.338 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
70.514 |
23.408 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
0.274 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
3.253 |
2.229 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
3.253 |
2.229 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
(2.979) |
(2.229) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
(2.979) |
(2.229) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
(10.84) |
(222.89) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
(1087.23) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
10.83 |
9.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.04 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.04 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.46 |
2.62 |
LOCAL AGENCY FURTHER INFORMATION
NATURE OF
OPERATION
Subject is a company incorporated under the companies Act, 1956 on 5th
December, 2007. The company is wholly owned subsidiary of Quantum clothing
group limited,
FINANCIAL AND
OPERATION
The Company is wholly owned subsidiary of Quantum Clothing
Group Limited,
The Company did not commence its commercial operations and has not earned any income during the period. The company has acquired lease hold land for its project in the said SEZ and carrying out building of the site. During the year the capital work in progress (including capital advances) amounted to Rs.46.040 millions.
During the year, the company earned foreign exchange gain of Rs.0.274 millions and total expenses amounted to Rs.3.253 millions resulting in loss of Rs.2.979 millions. The company is exploring all the possibilities of commencing its activities at the earliest.
There are no major changes after the closure of the financial year having impact on financial position of the company or otherwise.
FORM 8
|
Corporate
identity number of the company |
U17120AP2007FTC056537 |
|
Name of the
company |
QUANTUM CLOTHING
INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No 12, Email: Carl.PATE@quantumclothing.com |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
10254065 |
|
Type of charge |
|
|
Particular of
charge holder |
The Hong Kong Shanghai Banking Corporation Limited, No 7, Mahatma
Gandhi Road, Bangalore – 560001, Karnataka, India Email: janardhanbhat@hsbc.co.in |
|
Nature of
instrument creating charge |
1st supplemental
deed of hypothecation for stocks and receivables Dated 21.11.2011 for the working capital facilities for INR
80Millions |
|
Date of
instrument Creating the charge |
21.11.2011 |
|
Amount secured by
the charge |
Rs.80.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest shall be
payable by the company on the facilities as per banks tariff, subject however
that the bank shall have the right to change the rate of interest after
giving notice to the company. Terms of
Repayment In consideration
of banking facilities sanctioned/to be sanctioned by the bank to the company,
the company has hypothecated and charged to the bank on all present and
future Stocks and Receivables of the company to secure the repayments of the
advances by way of Credit facilities together with interest cost and all
other charges. Repayable as mutually agreed. Margin The Company shall
maintain such margin as may be specified by the bank from time to time. Extent and
Operation of the charge In Case The
Company Fails To Fulfill Obligation Under The Agreement, The Bank Shall Be
Entitled To Take Possession of The Hypothecated all the present and future
Stocks and Receivables of the company And Sell Them By Public Auction or
Private Contract And Utilise The Proceeds In Full or Part Settlement of Its
Claims. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Exclusive charge
on all tangible moveable assets including stocks and receivables both present
and future of the company via 1st supplemental deed of hypothecation for
stocks and receivables Dated 21-nov-2011 for INR 80 millions |
|
Particulars of
the present modification |
The working
capital limits are enhanced from Rs.55.000 millions to Rs.80.000 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 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.50.01 |
|
|
1 |
Rs.79.00 |
|
Euro |
1 |
Rs.66.17 |
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.