MIRA
INFORM REPORT
|
Report Date : |
07.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
CREATIVE POLY PACKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
7, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
06.06.2003 |
|
|
|
|
Com. Reg. No.: |
21-096341 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.55.348 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24139WB2003PTC096341 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALC03850A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCC3222D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Bio-Degradable Polythene Bags, T- Shirt Bags, Garbage
Bags etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 580000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
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 : |
7, Pollock Street, 3rd Floor, Suite No.12, Kolkata – 700001, Wet
Bengal, India |
|
Tel. No.: |
91-33-22133045 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 27.07.2011
|
Name : |
Mr. Bimal Kumar Kandoi |
|
Designation : |
Director |
|
Address : |
CL-135, Salt Lake City, Sector – II, Kolkata – 700091, West Bengal,
India |
|
Date of Birth/Age : |
30.07.1968 |
|
Date of Appointment : |
06.06.2003 |
|
DIN No.: |
00589321 |
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 |
U51909WB1994PTC065619 |
SANYAM
TIE-UP PIVATE LIMITED |
Director |
18-01-96 |
18-01-96 |
11-03-08 |
Active |
NO |
|
2 |
U24139WB2003PTC096341 |
CREATIVE
POLY PACKS PRIVATE LIMITED |
Director |
06-06-03 |
06-06-03 |
- |
Active |
NO |
|
3 |
U01403WB2007PTC121274 |
CK
PLASTICS PRIVATE LIMITED |
Director |
27-11-09 |
27-11-09 |
- |
Active |
NO |
|
Name : |
Mr. Chandra Prakash Kandoi |
|
Designation : |
Director |
|
Address : |
CL-135, Salt Lake City, Sector – II, Kolkata – 700091, West Bengal,
India |
|
Date of Birth/Age : |
04.02.1970 |
|
Date of Appointment : |
06.06.2003 |
|
DIN No.: |
00597873 |
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 |
U51909WB1994PTC065619 |
SANYAM
TIE-UP PIVATE LIMITED |
Director |
18-01-96 |
18-01-96 |
11-03-08 |
Active |
NO |
|
2 |
U24139WB2003PTC096341 |
CREATIVE
POLY PACKS PRIVATE LIMITED |
Director |
06-06-03 |
06-06-03 |
- |
Active |
NO |
|
Name : |
Mr. Vikash Kandoi |
|
Designation : |
Director |
|
Address : |
BE-379, Salt Lake City, Kolkata – 700064, West Bengal, India |
|
Date of Birth/Age : |
01.02.1976 |
|
Date of Appointment : |
06.06.2003 |
|
DIN No.: |
01207050 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.07.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Chandra Prakash Kandoi |
|
203000 |
|
Bimal Kumar Kandoi |
|
217500 |
|
Vikash Kandoi |
|
215038 |
|
C. K. Plastics Private Limited, India |
|
1140000 |
|
Sanyam Tie-up Private Limited, India |
|
1870000 |
|
Taramani Devi Kandoi |
|
125000 |
|
Anju Kandoi |
|
125000 |
|
Vineeta Kandoi |
|
240384 |
|
Vineeta Kandoi |
|
240384 |
|
Rekha Kandoi |
|
120000 |
|
Kokila Exports Private Limited, India |
|
96153 |
|
Anupama Vinitrade Private Limited, India |
|
153846 |
|
Ekdant Vintrade Private Limited, India |
|
76923 |
|
Madsan Agencies Private Limited, India |
|
96153 |
|
Sunfast Vinitrade Private Limited, India |
|
96153 |
|
Banbhumi Tie-Up Private Limited, India |
|
76923 |
|
Midnight Agencies Private Limited, India |
|
76923 |
|
Instyle Agencies Private Limited, India |
|
96153 |
|
Artline Vinimay Private Limited, India |
|
153846 |
|
Sujala Trading and Holding Limited, India |
|
76923 |
|
Nilkanth Commercial Private Limited, India |
|
38461 |
|
Total |
|
5534763 |
As on 27.07.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
73.15 |
|
Directors or relatives of Directors |
26.85 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Bio-Degradable Polythene Bags, T- Shirt Bags, Garbage
Bags etc. |
||||
|
|
|
||||
|
Products : |
·
Bio-degradable Polythene Bags ·
Falxibal Pakasing Garbage Bags ·
Laminate Packing Manf ·
Laminated Hdpe Bag ·
Poly Garment Bags ·
Printed Vinyl Bags ·
T-shirt Bags
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Corporation Bank,
Armenian Street Branch, 17, Brabourne Road Branch, Kolkata - 700001, West
Bengal, India |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P.C. Soni and Company Chartered Accountants |
|
Address : |
844, Marshall House, 33/1, N.S. Road, Kolkata – 700001, West Bengal,
India |
|
PAN.: |
ALBPS5801P |
|
|
|
|
Related Parties : |
·
Sanyam Tie-Up Private Limited ·
Essar Sales ·
C. K. Plastics Private Limited |
CAPITAL STRUCTURE
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 |
|
|
|
|
|
|
5534763 |
Equity Shares |
Rs.10/- each |
Rs.55.348
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 |
55.348 |
40.540 |
39.740 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
89.143 |
64.085 |
59.895 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
144.491 |
104.625 |
99.635 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.461 |
0.091 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
144.952 |
104.716 |
99.635 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
44.025 |
35.304 |
31.567 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
31.325 |
0.000 |
0.500 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12.292
|
9.983 |
5.980 |
|
|
Sundry Debtors |
18.526
|
12.755 |
9.910 |
|
|
Cash & Bank Balances |
(3.263)
|
4.952 |
2.506 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
43.240
|
45.990 |
56.112 |
|
Total
Current Assets |
70.795
|
73.680 |
74.508 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.025
|
4.026 |
6.424 |
|
|
Other Current Liabilities |
0.143
|
0.217 |
0.439 |
|
|
Provisions |
0.025
|
0.025 |
0.077 |
|
Total
Current Liabilities |
1.193
|
4.268 |
6.940 |
|
|
Net Current Assets |
69.602
|
69.412 |
67.568 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
144.952 |
104.716 |
99.635 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
NA |
|
63.398 |
|
|
|
Other Income |
NA |
|
NA |
|
|
|
TOTAL |
NA |
86.945 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
85.759 |
65.617 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.976 |
1.186 |
1.778 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.610 |
0.197 |
0.065 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.366 |
0.989 |
1.713 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.175 |
(0.814) |
(2.527) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1.541 |
0.175 |
(0.814) |
|
|
|
|
|
|
|
|
|
|
TOTAL EARNINGS |
0.047 |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.25 |
0.24 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
1.14 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.72
|
1.09 |
1.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.01 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.01
|
0.04 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
59.34
|
17.26 |
10.74 |
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 two years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
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 |
COMPANY'S PERFORMANCE:
During the year the
company has been engaged in the business of financing, and manufacturing of
polythene goods. After meeting all expenses profit of Rs. 1.976 Millions has
remained. The provision for current year Income Tax (MAT) is Rs. 0.366 Million.
The Company is expecting a bright future.
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U24139WB2003PTC096341 |
|
Name of the company |
CREATIVE POLY PACKS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
7, Pollock Street, 3rd Floor, Suite No.12, Kolkata – 700001, Wet
Bengal, India E-mail : chorariaca_clients@yahoo.co.in
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
90256349 |
|
Type of charge |
·
Immovable property ·
Book debts ·
Movable property (not being pledge) ·
Others (FD) |
|
Particular of charge holder |
Corporation Bank, Armenian Street Branch, 17, Brabourne Road Branch,
Kolkata - 700001, West Bengal, India E-mail : cb052@corpbank.co.in
|
|
Nature of instrument creating charge |
1.Demand Promissory Note dated 27.07.2010 2.Take Delivery letter to D.P.N dated 27.07.2010 3.Guarantee Agreement dated 27.07.2010 4.Common Deed of Hypothecation of Movables/Assets/Debts dated
27.07.2010 |
|
Date of instrument Creating the charge |
27.07.2010 |
|
Amount secured by the charge |
Rs.42.500 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest COBAR-1.25% Terms of Repayment CC- running account repayable on demand subject to annual renewal Margin 1.CC- a).Inventories-25.00% b).Book Debts-40.00% 2.Import/Inland LC cum BG Cash Margin-10% in the form of FD/KCC under lien to the bank Extent and Operation of the charge CC-4.000 Millions Hypothecation / 1st charge on inventory cum book debts/current assets LC/BG-38.500 Millions 1). Extension of Charge on the current assets 2). Exclusive charge on the materials to be procured under LC |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Personal Guarantees of Mr. Bimal Kumar Kandoi(NW-Rs.2.029 Millions),
Mr. chandra Prakash Kandoi(NW-Rs.1.971 Millions), Mr. Vikash Kumar
Kandoi(NW-Rs.2.726 Millions), Mr. Nirmal Kumar Kandoi(NW-Rs.2.555
Millions) aggregating to Rs.9.281
Millions 1st charge on land measuring 320, 77 decimals in RS Dag no.2553,
2341,2552,2800, 2819, 2816, 2797, 2799, 2345, 2847, 2818 under mouza
Raghudevpur police station, Uluberia, District-Howrah in the name of Company
valuing Rs.69.500 Millions as per the valuation dated 20.04.2009 Hypothecation/1st Charge on P and M and other moveable assets valuing
Rs.7.214 Millions as per the valuation dated 31.03.2009 Fixed Deposit of Rs.3.850 Millions. |
|
Date of instrument modifying the charge |
04.05.2010 |
|
Particulars of the present modification |
By this modification, Fund based limit (CC limit) has been enhanced
from Rs.2.500 Millions to Rs.4.000 Millions and Non-fund based limit has been
enhanced from Rs.15.000 Millions to Rs.38.500 Millions. |
FIXED ASSETS:
·
Factory Land
·
Factory Shed and Building
·
Computer and Peripherals
·
Furniture and Fixtures
·
Telecom Equipments
·
Motor Car
·
Plant and Machinery
·
Refrigerator
·
Weighing Scale
·
Air Conditioner
·
Motor Cycle
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.53.72 |
|
|
1 |
Rs.86.98 |
|
Euro |
1 |
Rs.70.65 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.