1. Summary Information
|
|
|
Country |
|
|
Company Name |
J PARSAD AND
COMPANY PRIVATE LIMITED |
Principal Name 1 |
Mr. Amit Chawla |
|
Status |
Moderate |
Principal Name 2 |
Mr. Avinash Chawla |
|
|
|
Registration # |
55-097577 |
|
Street Address |
29/1, Shakti
Nagar, |
||
|
Established Date |
21.12.1998 |
SIC Code |
-- |
|
Telephone# |
Not Available |
Business Style 1 |
Seller |
|
Fax # |
Not Available |
Business Style 2 |
-- |
|
Homepage |
Not Available |
Product Name 1 |
Dish TV connections |
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.2,301,000/-
Millions |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives
of Directors – 100% |
Banking |
HDFC
Bank Limited |
|
Public Limited Corp. |
NO |
Business Period |
13 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 |
37,929,000 |
Current Liabilities |
578,000 |
|
Inventories |
43,505,000 |
Long-term Liabilities |
76,960,000 |
|
Fixed Assets |
1,636,000 |
Other Liabilities |
0,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
77,538,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
3,231,000 |
|
|
|
Net Worth |
5,532,000 |
|
Total Assets |
83,070,000 |
Total Liab. & Equity |
83,070,000 |
|
Total Assets (Previous Year) |
50,271,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
-- |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
|
Report Date : |
07.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
J PARSAD AND COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
29/1, Shakti Nagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
21.12.1998 |
|
|
|
|
Com. Reg. No.: |
55-097577 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.2.301 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909DL1998PTC097577 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in selling of Dish TV connections.
|
|
|
|
|
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 20000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. 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 caution.
Profit and Loss A/c 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 |
INFORMATION DECLINED BY
|
Name : |
Mr. Amit Chawla |
|
Designation : |
Director |
|
Contact No.: |
91-9810111179 |
|
Date : |
30.04.2012 |
LOCATIONS
|
Registered Office : |
29/1, Shakti Nagar, |
|
Tel. No.: |
Not Available |
|
|
91-9810111179 (Mr. Amit Chawla) |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on: 30.09.2011
|
Name : |
Mr. Amit Chawla |
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|
Designation : |
Director |
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Address : |
AE-34, Shalimar Bagh, |
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Date of Birth/Age : |
11.10.1968 |
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Date of Appointment : |
21.12.1998 |
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DIN No.: |
01217720 |
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Other Directorships :
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Name : |
Mr. Avinash Chawla |
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Designation : |
Director |
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Address : |
AE-34, Shalimar Bagh, |
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Date of Birth/Age : |
20.07.1942 |
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Date of Appointment : |
21.12.1998 |
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DIN No.: |
03030434 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Amit Chawla |
|
115110 |
|
Avinash Chawla |
|
115010 |
|
|
|
|
|
Total |
|
230120 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in selling of Dish TV
connections. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
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Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Arun Sehgal Chartered Accountant |
|
Address : |
BN-14, East Shalimar Bagh, |
|
PAN.: |
AISPS1215G |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
230120 |
Equity Shares |
Rs.10/- each |
Rs.2.301
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 |
2.301 |
2.301 |
2.301 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3.231 |
1.699 |
1.699 |
|
|
4] (Accumulated Losses) |
0.000 |
0.838 |
0.000 |
|
|
NETWORTH |
5.532 |
4.838 |
4.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
61.017 |
38.043 |
34.088 |
|
|
2] Unsecured Loans |
15.943 |
7.345 |
2.628 |
|
|
TOTAL BORROWING |
76.960 |
45.388 |
36.716 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
82.492 |
50.226 |
40.716 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.636 |
1.958 |
2.374 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
43.505
|
41.590 |
34.360 |
|
|
Sundry Debtors |
33.743
|
17.046 |
6.194 |
|
|
Cash & Bank Balances |
2.482
|
1.122 |
0.375 |
|
|
Other Current Assets |
1.077
|
0.643 |
0.000 |
|
|
Loans & Advances |
0.627
|
0.943 |
1.875 |
|
Total
Current Assets |
81.434
|
61.344 |
42.804 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.578
|
13.031 |
4.462 |
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
0.000
|
0.045 |
0.000 |
|
Total
Current Liabilities |
0.578
|
13.076 |
4.462 |
|
|
Net Current Assets |
80.856
|
48.268 |
38.342 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
82.492 |
50.226 |
40.716 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
14.01
|
12.08 |
10.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
140.89
|
4.69 |
9.59 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Construction
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
No |
|
Profitability
for last three years |
No |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
FINANCIAL RESULT/ OPERATION:
Company has diversified in Selling Dish TV connections
in previous year and achieved a good growth during the year in this product and
the profit of the company has increased.
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration number
of the company |
U51909DL1998PTC097577 |
|
Name of the
company |
J PARSAD AND
COMPANY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
29/1, Shakti Nagar, E-mail: jpcpl@rediffmail.com
|
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10016721 |
|
Type of charge |
|
|
Particular of
charge holder |
CIN No: L65920MH1994PLC080618 HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg,
Lower Parel (West), Mumbai - 400013, E-mail: RBBform8@hdfcbank.com |
|
Nature of
instrument creating charge |
a) Supplementary
Letter of Hypothecation. b) Memorandum
recording past transactions of creation of Mortgage by Delivery of Title
Deeds. (Collectively constitute
a single charge for Rs.70.000 Millions) |
|
Date of
instrument Creating the charge |
20.03.2012 |
|
Amount secured by
the charge |
Rs.70.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest at the
rate as may be communicated by the Bank from time to time. Terms of
repayment On demand Margin As may be
stipulated by the Bank from time to time. Extend and
operation of the charge (a) Hypothecation
by way of First Charge on Company's Stocks, Book Debts, etc, as a continuing
security (b) The Company
accorded and gave oral consent to Bank to continue to hold and retain the
title deeds (by way of Constructive delivery) in respect of its immovable
properties as security for repayment of Rs.70.000 Millions, together with
principal, interest, liquidated damages, costs, charges and expenses. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Stock in Trade,
consisting of raw materials, goods in process of manufacturing finished
goods, and other merchandise whatsoever being movable properties All the debts,
that is, all the book debts, outstandings, monies receivables, claims, bills, invoice documents, contracts,
guarantees, and rights Shop No. 3, 29/3,
Shakti Nagar, Part of Property
No. 29/1, Shakti Nagar, |
|
Date of
instrument modifying the charge |
31.10.2011 |
|
Particulars of
the present modification |
The Charge shall
now stand increased from Rs.65.000 Millions to Rs.70.000 Millions against the
security of Stocks, Book Debts, immovable properties of the Company. |
FIXED ASSETS:
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
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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.