|
Report Date : |
30.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
XCEED TOOLINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
105, Ashoka Apartment, 10th Floor, Runghta Lane, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
17.08.2009 |
|
|
|
|
Com. Reg. No.: |
194971 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH2009PTC194971 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMX00482G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Supplier of Cutting Tools |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1292 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The latest
financial of the company are missing with the Government Department. Also the
management denied to disclose any information of the company. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
|
Name : |
Mr. Mikilesh Shah |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-66366676 |
|
Date : |
29.05.2012 |
LOCATIONS
|
Registered Office : |
105, Ashoka Apartment, 10th Floor, Runghta Lane, Nepeansea
Road, Mumbai – 400006, Maharashtra, India |
|
E-Mail : |
|
|
|
|
|
Warehouse: |
3015-16 Kaalamboli Dist, Raigad – 410206, Maharashtra, India |
|
|
|
|
Head Office: |
11, Narayan Dhuru Cross Lane, 1st Floor, Daga
Chamber, Mumbai - 400003, Maharashtra, India |
|
Tel No.: |
91-22-66366676 |
|
Fax No.: |
91-22-23432458 |
DIRECTORS
|
Name : |
Mr. Bhupendra Sanalal Shah |
|
Designation : |
Director |
|
Address : |
Ashoka Apartments Co-Op Hsg Society Limited, 68 Nepeansea Road,Mumbai
– 400006, Maharashtra, India |
|
Date of Birth/Age : |
27.07.1950 |
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 |
U74999MH2009PTC194971 |
XCEED TOOLINGS PRIVATE
LIMITED |
Director |
17/08/2009 |
17/08/2009 |
- |
Active |
NO |
|
Name : |
Mr. Viral Bhupendra Shah |
|
Designation : |
Director |
|
Address : |
105, Ashoka Apartments, Rungtha Lane, Nepeansea Road, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
30.10.1977 |
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 |
U74999MH2009PTC194971 |
XCEED TOOLINGS PRIVATE
LIMITED |
Director |
17/08/2009 |
17/08/2009 |
- |
Active |
NO |
|
Name : |
Mr. Pratik Bhupendra Shah |
|
Designation : |
Director |
|
Address : |
Kumud Mansion, Room No 201, Forjett Hill, Mumbai – 400036,
Maharashtra, India |
|
Date of Birth/Age : |
05.02.1981 |
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 |
U74999MH2009PTC194971 |
XCEED TOOLINGS PRIVATE
LIMITED |
Director |
17/08/2009 |
17/08/2009 |
- |
Active |
NO |
|
Name : |
Mr. Vipul Sanalal Shah |
|
Designation : |
Director |
|
Address : |
79/81 Augustkranti Marg, 4/41 Warden Court, Mumbai – 400036,
Maharashtra India |
|
Date of Birth/Age : |
20.12.1962 |
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 |
U74999MH2009PTC194971 |
XCEED TOOLINGS PRIVATE
LIMITED |
Director |
17/08/2009 |
17/08/2009 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Mikilesh Shah |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
NOT AVAILABLE
BUSINESS DETAILS
|
Line of Business : |
Supplier of Cutting Tools |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda -
390015, Gujarat, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vipul Jitendra and Associates Chartered Accountant |
|
Address : |
14, Al-Karam Manzil, 3rd Floor, 15, Palton Road, Mumbai –
400001, Maharashtra, India |
|
|
|
|
Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.223 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
0.323 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
8.193 |
|
|
TOTAL BORROWING |
|
|
8.193 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8.516 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.486 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
7.713 |
|
|
Sundry Debtors |
|
|
0.791 |
|
|
Cash & Bank Balances |
|
|
0.439 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
1.400 |
|
Total
Current Assets |
|
|
10.343 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
2.008 |
|
|
Other Current Liabilities |
|
|
0.305 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
2.313 |
|
|
Net Current Assets |
|
|
8.030 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8.516 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
|
|
6.668 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
|
6.335 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
0.333 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.110 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
0.223 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2010 |
|
PAT / Total Income |
(%) |
|
|
3.34 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
3.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
1.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
32.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
4.47 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
Particulars |
|
|
31.03.2010 |
|
Sundry Creditors |
|
|
2.008 |
|
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 |
Yes |
|
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 |
Yes |
|
10)
Designation of contact person |
Yes |
|
11)
Turnover of firm for one years |
Yes |
|
12)
Profitability for one years |
Yes |
|
13)
Reasons for variation <> 20% |
-- |
|
14)
Estimation for coming financial year |
No |
|
15)
Capital in the business |
No |
|
16)
Details of sister concerns |
No |
|
17)
Major suppliers |
No |
|
18)
Major customers |
No |
|
19)
Payments terms |
No |
|
20)
Export / Import details (if applicable) |
-- |
|
21)
Market information |
-- |
|
22)
Litigations that the firm / promoter involved in |
-- |
|
23)
Banking Details |
Yes |
|
24)
Banking facility details |
Yes |
|
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 |
-- |
|
30)
Major Shareholders, if available |
-- |
OPERATIONS AND FUTURE
OUTLOOK:
During the financial year, the Company’s total income was Rs. 6.668 Millions. After meeting all the expenses, the company had profit of Rs.0.223 Million for the year. The Directors would explore the possibilities of expanding and diversifying its activities.
FORM 8:
|
Corporate identity number of the company |
U74999MH2009PTC194971 |
|
Name of the company |
XCEED TOOLINGS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
105, Ashoka Apartment, 10th Floor. Runghta
Lane, Nepeansea Road, Mumbai – 400006, Maharashtra, India |
|
This form is for |
Creation of charge Modification of charge |
|
Type of charge |
Book Debts |
|
Particular of charge holder |
ICICI BANK LIMITED |
|
Nature of instrument creating charge |
Exclusive charge on current assets both
present and future. |
|
Date of instrument Creating the charge |
15.02.2011 |
|
Amount secured by the charge |
Rs.20.000 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest For Cash Credit : 12.25 percent p.a. For Letter of Credit : 1.25 percent p.a. For Buyers Credit : As per IBG rates. Terms of Repayment 12 months Margin For Cash Credit : Inventory - Uniform
margin of 25 percent against all components of inventory Book Debts -
Cover Period 90 days, Margin of 25 percent For Letter of Credit : 15 percent For Buyer's Credit : 15 percent Extent and Operation of the charge Exclusive charge on current assets,
financial guarantee of Vipul Tools Centre and exclusive charge on liquid
security. |
|
Short particulars of the property charged |
Lien on liquid security in the name of
Xceed Toolings Pvt Ltd and financial guarantee of Vipul Tools Centre. |
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.55.28 |
|
|
1 |
Rs.87.14 |
|
Euro |
1 |
Rs.69.73 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
SDA |
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 |
3 |
|
--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 |
|
26 |
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.