MIRA INFORM REPORT

 

 

Report Date :

22.03.2012

 

IDENTIFICATION DETAILS

 

Name :

GOLDENDAYS PLASTECH PRIVATE LIMITED (w.e.f. 04.05.2010)

 

 

Formerly Known As :

AMARDEEP MERCHANTILES PRIVATE LIMITED

 

 

Registered Office :

43A, Dilshad Garden Industrial Area, Near Laxmi Narayan, Mandir, Delhi – 110095

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

01.05.2007

 

 

Com. Reg. No.:

55-227499

 

 

Capital Investment / Paid-up Capital :

Rs.2.446 Millions

 

 

CIN No.:

[Company Identification No.]

U51909DL2007PTC227499

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELG12727B

 

 

PAN No.:

[Permanent Account No.]

AAGCA4863N

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Import and Purchase of Machinery

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (27)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 94000

 

 

Status :

Small company

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a small company in its field. Its scale of activities are limited. 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.

 

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 :

43A, Dilshad Garden Industrial Area, Near Laxmi Narayan, Mandir, Delhi – 110095, India

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

hirawatprakash@gmail.com

 

 

DIRECTORS

 

As on 30.09.2011

 

Name :

Mr. Shailendra Surana

Designation :

Director

Address :

B-206, Yojana Vihar, New Delhi – 110092, India

Date of Birth/Age :

04.07.1966

Date of Appointment :

30.09.2009

DIN No.:

00641248

Other Directorship

S.No.

CIN

Name of the Company

Current designation of the director

Date of appointment at current designation

Original date of appointment

Date of cessation

Company Status

Defaulting status

1

U74899DL1994PTC058227

GOLDENDAYS CREATIONS PRIVATE LIMITED

Director

4/4/1994

4/4/1994

-

Active

NO

2

U51109DL1997PTC087701

GOLDENDAYS PRODUCTS PRIVATE LIMITED

Director

4/6/1997

4/6/1997

-

Active

NO

3

U51909DL2007PTC227499

GOLDENDAYS PLASTECH PRIVATE LIMITED

Director

30/09/2009

30/09/2009

-

Active

NO

 

 

Name :

Mr. Kanak Surana

Designation :

Director

Address :

B-206, Yojana Vihar, New Delhi – 110092, India

Date of Birth/Age :

14.02.1968

Date of Appointment :

30.09.2009

DIN No.:

00641302

Other Directorship

S.No.

CIN

Name of the Company

Current designation of the director

Date of appointment at current designation

Original date of appointment

Date of cessation

Company Status

Defaulting status

1

U74899DL1994PTC058227

GOLDENDAYS CREATIONS PRIVATE LIMITED

Director

4/4/1994

4/4/1994

-

Active

NO

2

U51109DL1997PTC087701

GOLDENDAYS PRODUCTS PRIVATE LIMITED

Director

4/6/1997

4/6/1997

-

Active

NO

3

U51909DL2007PTC227499

GOLDENDAYS PLASTECH PRIVATE LIMITED

Director

30/09/2009

30/09/2009

-

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2011

 

Names of Shareholders

 

No. of Shares

Shailendra Surana

 

108000

Kanak Surana

 

96600

Ashish Surana

 

40000

Total

 

244600

 

As on 30.09.2011

 

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 :

Import and Purchase of Machinery

 

 

GENERAL INFORMATION

 

No. of Employees :

Not Available

 

 

Bankers :

State Bank of Mysore, Plot No.2 and 3, Local Shopping Complex, Block – F, 1st Floor , Opposite. National Market,  Paschim Vihar, New Delhi – 110087, India

 

 

Facilities :

(Rs. In Millions)

Secured Loan

As on

31.03.2011

As on

31.03.2010

Cash Credit from State Bank of Mysore

2.703

0.000

Term Loan from State Bank of Mysore

25.071

0.000

Total

27.774

0.000

 

 

 

Unsecured Loan

As on

31.03.2011

As on

31.03.2010

From Directors

0.200

0.000

From Others

0.900

0.000

Total

1.100

0.000

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Hirawat and Associates

Chartered Accountant

Address :

618 F / 2A / 2 E, Shankar Gali, Vishwas Nagar, Shahdara, Delhi – 110032, India

Tel. No.:

91-9891253533 / 9313120705

E-Mail :

hirawatprakash@gmail.com

PAN.:

ABHPH3243C

 

 

CAPITAL STRUCTURE

 

As on 31.03.2011

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

245000

Equity Shares

Rs.10/- each

Rs.2.450 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

244600

Equity Shares

Rs.10/- each

Rs.2.446 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

2.446

2.446

2.446

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

21.253

21.163

21.117

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

23.699

23.609

23.563

LOAN FUNDS

 

 

 

1] Secured Loans

27.774

0.000

0.000

2] Unsecured Loans

1.100

0.000

0.000

TOTAL BORROWING

28.874

0.000

0.000

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

52.573

23.609

23.563

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

36.121

0.000

0.000

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.500

14.400

21.925

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
3.760

0.000

0.000

 

Sundry Debtors
0.192

0.000

0.000

 

Cash & Bank Balances
0.191

0.215

0.032

 

Other Current Assets
0.000

0.000

1.032

 

Loans & Advances
14.714

8.991

2.287

Total Current Assets
18.857

9.206

3.351

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
2.590

0.000

1.750

 

Other Current Liabilities
0.308

0.003

0.002

 

Provisions
0.020

0.021

0.000

Total Current Liabilities
2.918

0.023

1.752

Net Current Assets
15.939

9.183

1.599

 

 

 

 

MISCELLANEOUS EXPENSES

0.013

0.026

0.039

 

 

 

 

TOTAL

52.573

23.609

23.563

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2011

31.03.2010

31.03.2009

 

SALES

 

 

 

 

Income

0.308

0.246

0.136

 

 

Other Income

0.787

0.352

 

 

 

TOTAL                                     (A)

1.095

0.598

0.136

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Increase / Decrease in stock

(3.760)

0.000

 

 

Purchase

3.301

0.229

 

 

 

Manufacturing & Direct Expenses

0.251

0.000

 

 

 

Administrative & Other Expenses

0.290

0.092

 

 

 

Establishment Expenses

0.188

0.210

 

 

 

TOTAL                                     (B)

0.270

0.531

0.133

(Including Financial Expenses and Depreciation)

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

0.825

0.067

 

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

0.311

0.000

 

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

0.514

0.067

 

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

0.405

0.000

 

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

0.109

0.067

0.003

 

 

 

 

 

Less

TAX                                                                  (I)

0.020

0.021

0.001

 

 

 

 

 

 

PROFIT AFTER TAX (G-I)                                  (J)

0.089

0.046

0.002

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

0.049

0.003

0.001

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

0.138

0.049

0.003

 

 

 

 

 

 

Earnings Per Share (Rs.)

0.36

0189

0075

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.2009

PAT / Total Income

(%)
8.13

7.70

1.47

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
35.39

27.24

NA

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
0.20

0.73

0.09

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.00

0.00

0.00

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
1.34

0.10

7.44

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
6.46

400.26

1.91

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Note:

The registered office of the company has been shifted from Vidyasagar AC Market Station Road, Sodepur, Kolkata – 700110, West Bengal, India to present address w.e.f.04.11.2011

 

BANKERS CHARGES REPORT AS PER REGISTRY

 

Corporate identity number of the company

U51909WB2007PTC115437

Name of the company

GOLDENDAYS PLASTECH PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

Vidyasagar AC Market Station Road, Sodepur, Kolkata – 700110, West Bengal, India

hirawatprakash@gmail.com

This form is for

Creation of charge

Type of charge

·         Immovable property

·         Book debts

·         Movable property (not being pledge)

Particular of charge holder

State Bank of Mysore, Plot No.2 and 3, Local Shopping Complex, Block – F, 1st Floor , Opposite. National Market,  Paschim Vihar, New Delhi – 110087, India

paschimenclave@sbm.co.in

Nature of instrument creating charge

Agreement Of Loan Cum Hypothecation

Date of instrument Creating the charge

14.12.2010

Amount secured by the charge

Rs.5.000 Millions

Brief of the principal terms an conditions and extent and operation of the charge

Rate of Interest

9.00% (fixed) for the one year, thereafter interest rate will be directly linked to the credit risk assessment of the borrower.

 

Terms of Repayment

Within 12 months or on demand

 

Margin

RM,SIP And FG     :25%                

Receivables          :40%(Cover Period 90 Days)

 

Extent And Operation Of The Charge

First charge on the entire current assets of the company.  eqm over industrial land and building bearing No.42 -A/10-11,Situated at Dilshad Garden  Industrial Area, Near Laxmi Narayan Mandir , New Delhi 110095, India. second on all fixed assets of the company both present and future

Short particulars of the property or asset(s) charged (including complete address and location of the property)

1. First charge on the entire current assets of the company eqm over industrial land and building bearing No 42-A/10-11, Situated at Dilshad Garden Indl Area, Near Laxmi Narayan Mandir New Delhi 10095, India.

 

2. Second charge on all fixed assets of the company both present and future

 

 

Fixed Assets

 

  • D.G. Set
  • Plant and Machinery
  • Fire Extinguisher
  • Office Equipment

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.50.59

UK Pound

1

Rs.80.34

Euro

1

Rs.67.14

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

4

--CREDIT LINES

1~10

2

--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

 

27

 

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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.