MIRA INFORM REPORT

 

 

Report Date :

21.05.2012

 

IDENTIFICATION DETAILS

 

Name :

BALADEWA  LTD.

 

 

Registered Office :

C/o Multi-Chain Ltd.

Room 301, 3/F., Kam On Building, 176A Queen’s Road Central

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

14.11. 2001

 

 

Com. Reg. No.:

33345819

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of Hardware, kitchen ware, plastic ware, toys, etc.

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company

Payment Behaviour :

No Complaints

Litigation :

Clear

 

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Hong Kong

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

BALADEWA  LTD.

 

 

ADDRESS:       c/o Multi-Chain Ltd.

Room 301, 3/F., Kam On Building, 176A Queen’s Road Central, Hong Kong.

 

PHONE:            2543 0585

 

FAX:                 2544 5373

 

 

MANAGEMENT

 

Managing Director:  Mr. Sushil Jaikishin Rajwani

 

 

SUMMARY

 

Incorporated on:             14th November, 2001.

 

Organization:                 Private Limited Company.

 

Capital:                         Nominal:           HK$5,000,000.00

Issued:              HK$5,000,000.00

 

Business Category:        Importer, Exporter and Wholesaler.

 

Employees:                   Nil.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:            Satisfactory.

ADDRESS

 

Registered Head Office:-

c/o Multi-Chain Ltd.

Room 301, 3/F., Kam On Building, 176A Queen’s Road Central, Hong Kong.

 

Associated Company:-

Guangzhou Baladewa Ltd.

Room 1903, 19/F., Pacific Insurance Building, 559 Tianhe Bei Road, 510635 Guangzhou City, Guangdong Province, China.

[Tel:      86 20 3847-9068

Fax:      86 20 3847-9949

E-mail:  baladewa@baladewa.com.cn

 

 

BUSINESS REGISTRATION NUMBER

 

33345819

 

 

COMPANY FILE NUMBER

 

0775964

 

 

MANAGEMENT

 

Managing Director:  Mr. Sushil Jaikishin Rajwani

 

 

CAPITAL

 

Nominal Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$5,000,000.00

 

 

SHAREHOLDERS

(As per registry dated 14-11-2011)

 

Name

 

No. of shares

Sushil Jaikishin RAJWANI

 

1,666,666

Jaiprakash Vensimal BHOJWANI

 

1,666,667

Hiroo Kishinchand MELWANI

 

1,666,667

 

 

––––––––

 

Total:

5,000,000

=======

 

 

DIRECTORS

(As per registry dated 14-11-2011)

 

Name

(Nationality)

 

Address

Jaiprakash Vensimal BHOJWANI

Room 2006, 20/F., Block D, Regal Court, 388 Long Kou Xi Road, Tian He Area, Guangzhou, China.

 

Hiroo Kishinchand MELWANI

Flat H, 18/F., Block A, Regal Court, Long Kou Shi Road, Tian He Area, Guangzhou, China.

 

Sushil Jaikishin RAJWANI

2/F., 3-1, Lane 754, Section 6, Chung Shan North Road, Taipei, Taiwan.

 

 

SECRETARY

(As per registry dated 14-11-2011)

 

Name

Address

Co. No.

Multi-Chain Ltd.

Room301, 3/F., Kam On Building, 176A Queen’s Road Central, Hong Kong.

0209214

 

 

HISTORY

 

The subject was incorporated on 14th November, 2001 as a private limited liability company under the Hong Kong Companies Ordinance.

Originally the subject was registered under the name of Prosper Fortune Ltd., name changed to the present style on 19th February, 2003.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           Hardware, kitchen ware, plastic ware, toys, etc.

 

Employees:                   Nil.

 

Commodities Imported:   China, India, Indonesia, etc.

 

Markets:                       India, Taiwan, other Asian countries, South Africa, South America, etc.

 

Terms/Sales:                 L/C or as per contracted.

 

Terms/Buying:               L/C, D/P, etc.

 

 

FINANCIAL INFORMATION

 

Nominal Share Capital:   HK$5,000,000.00 (Divided into 5,000,000 shares of HK$1.00 each)

 

Issued Share Capital:     HK$5,000,000.00

 

Mortgage or Charge(since 2011):  (See attachment)

 

Profit or Loss:                Keeping a balance account in Hong Kong.

 

Condition:                      Business is not active in Hong Kong.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:     Satisfactory.

 

Bankers:-

The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Bank of India, Hong Kong Branch.

Indian Overseas Bank, Hong Kong Branch.

State Bank of India, Hong Kong.

Bank of Baroda, Hong Kong Branch.

 

Standing:                      Small.

 

 

GENERAL

 

Having issued 5 million ordinary shares of HK$1.00 each, Baladewa Ltd. is equally owned by three Indian, namely, Mr. Sushil Jaikishin Rajwani, Mr. Jaiprakash Vensimal Bhojwani and Mr. Hiroo Kishinchand Melwani.  The first is a Hong Kong ID holder while the second and third are India passport holders.  Currently the latter two are residing in Guangzhou City, Guangdong Province, China.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at “Room301, 3/F., Kam On Building, 176A Queen’s Road Central, Hong Kong” known as ‘Multi-Chain Ltd.’ which is handling its correspondences and documents.  This firm is also the corporate secretary of the subject.

The subject has no employees in Hong Kong.

To our knowledge, the subject’s associated company Guangzhou Baladewa Ltd. [Baladewa] is in Guangzhou City, China.  This firm is administered by Jaiprakash Vensimal Bhojwani and Hiroo Kishinchand Melwani.

Baladewa currently is trading in the following commodities: Hardware, Kitchen Ware, Plastic Ware, Toys, Floor Tiles, Sanitary Ware, Carpets, Wooden Flooring, Vinyl Flooring, Garments, Bathroom Accessories, Designer Furniture For Homes And Offices, Budget Furniture, Stationary, Outdoor Furniture(Patio And Garden), Electronics, Vehicle Parts, Sports Wheels (Mags), Tyres, Car Accessories, Electrical Equipment, Computer Parts, Catering Equipment, Shop Fittings, Bicycles, Motor Cycles, Generators, Electrical Parts, etc.

All the commodities are sourced from China.  Prime markets are the United Kingdom, South Africa, South America, and India.  Baladewa is also able to arrange imports from India and Indonesia apart from China.  Baladewa also offers clients with the following services:-

·         Consolidate shipments

·         Arranging travel, transportation and hotels, etc.

·         Able to cater for different religious groups

According to Baladewa, it is a ‘well known’ company of the world.  It serves both local and international organizations.  Overall business is satisfactory.

It is likely that Baladewa deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.  Baladewa also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.

The subject’s business in Hong Kong is not active.  History in Hong Kong is over ten years and six months.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on L/C basis.

 

 

MORTGAGE OR CHARGE

(Since 2011)

 

Date

Particulars

Amount

03-01-2011

Instrument:        Undertaking Relating to Deposits

Property:

Distinctive         Date of  Amount Rate of  Maturity
No. of Receipt    Receipt of Deposit          Interest             Date    

2010 FD 412 1 30-12-2010 US$ 163,500.00 0.71% 30-06-2011

Mortgagee:        Indian Overseas Bank, Hong Kong Branch.

All and any liabilities

18-04-2011

Instrument:        Letter of Set-Off and Appropriation

Property:

Deal No.            Date     Amount Due Date

168397  31-01-2011        US$299,851.40  03-05-2011

169776  12-04-2011        US$203,629.14  12-07-2011

Mortgagee:        Bank of India, Hong Kong Branch.

Advances and other banking facilities

30-08-2011

Instrument:        Memorandum

Property:

Distinctive
No. of Receipts  Date of Issue     Amount Due Date

91210300004611            08-06-2011        US$230,348.97  08-09-2011

91210300004704            30.06.2011        US$64,723.64    30-12-2011

91210300004726            07-07-2011        US$242,034.69  07-10-2011

91210300004727            07-07-2011        US$103,311.05  07-10-2011

91210300004728            07.07.2011        US$107,795.74  07-10-2011

91210300004737            12.07.2011        US$66,919.52    12-10-2011

91210300005087            30.08.2011        US$322,000.00  29-02-2012

Mortgagee:        Bank of Baroda, Hong Kong Branch.

Loan or credit or other facilities

24-04-2012

Instrument:        Undertaking Relating to Deposits

Property:

Distinctive         Date of  Amount Rate of  Maturity
No. of Receipt    Receipt of Deposit          Interest             Date    

2011 FD 440 1 24.02.2012 US$250,000.00 1.05% 26-06-2012

Mortgagee:        Indian Overseas Bank, Hong Kong Branch.

All and any liabilities

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.87

UK Pound

1

Rs.86.46

Euro

1

Rs.69.49

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

 

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 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%)

 

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.