|
Report Date : |
03.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
GIC INSUFLEX CONDUCTORS PRIVATE LIMITED |
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|
|
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Registered
Office : |
Unit No.G2, N.J.
Industrial Estate, Survey No.265/A, Chinchpada, Gokhivare Village, Vasai Road
(East), Thane – 401 208, Maharashtra |
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Country : |
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Date of
Incorporation : |
20.02.2012 |
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Com. Reg. No.: |
11-227205 |
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|
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Capital Investment
/ Paid-up Capital : |
Rs.1.000
million |
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|
|
|
CIN No.: [Company Identification
No.] |
U74120MH2012PTC227205 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Copper Wire and Electrical Products. |
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No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Mr. Manohar, the contacted person confirmed that the subject was
established as a partnership concern in the year 1972 with the name, ‘Gupta
Industrial Corporation’ and recently in February 2012 it got converted into a
private limited company. 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 caution.
|
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Manohar |
|
Designation : |
Assistant Marketing Manager |
|
Contact No.: |
91-250-6452477 |
|
Date : |
25.09.2012 |
LOCATIONS
|
Registered Office/ Factory : |
Unit No.G2, N.J.
Industrial Estate, Survey No.265/A, Chinchpada, Gokhivare Village, Vasai Road
(East), Thane – 401 208, Maharashtra, India |
|
Tel. No.: |
91-250-2453546/ 47/ 2454887/ 6452477 |
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Mobile No.: |
91-9820386798 (Mr. Pravin – Manager) |
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Fax No.: |
91-250-2456886 |
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E-Mail : |
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Website : |
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Area : |
1000 sq. ft. |
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Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Amit Bhupendra Shah |
|
Designation : |
Director |
|
Address : |
A-101, Kamla Nagar, |
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Date of Birth/Age : |
22.02.1969 |
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Qualification : |
Diploma In Electrical Engineering |
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Date of Appointment : |
20.02.2012 |
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DIN No.: |
03405971 |
|
|
|
|
Name : |
Mr. Bhupendra Rasiklal Shah |
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Designation : |
Director |
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Address : |
A-101, Kamla Nagar, |
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Date of Birth/Age : |
23.10.1944 |
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Qualification : |
B.Com |
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Date of Appointment : |
20.02.2012 |
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DIN No.: |
03406007 |
KEY EXECUTIVES
|
Name : |
Mr. Manohar |
|
Designation : |
Assistant Marketing Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.01.2012
|
Names of Shareholders |
|
No. of Shares |
|
Bhupendra Rasiklal Shah |
|
20000 |
|
Amit Bhupendra Shah |
|
36000 |
|
Hitendra Rasiklal Shah |
|
15000 |
|
Paresha Bharat Shah |
|
15000 |
|
Hinaxi Bhupendra Shah |
|
5000 |
|
Rupal Amit Shah |
|
5000 |
|
Amit Shah (HUF) |
|
4000 |
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Total |
|
100000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Copper Wire and Electrical Products. |
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
35 (Approximately) |
|
|
|
|
Bankers : |
Bank of Baroda,
Mount Poinsur Branch, I.C. Colony, Church Compound, Borivali (West), Mumbai –
400 103, Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
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Associates/Subsidiaries : |
BB Elctro
Technia Line of Business: Manufacturer
of Electric Goods. Address: Unit No.G-2,
Survey No.265/A, N.J. Industrial Estate, Chinch Pada, Gokhivire Village,
Vasai Road, Thane – 401 208, Maharashtra, India Infotech
Corporation Line of Business: Manufacturer
of Electric Goods. Address: Unit No.G-2,
Survey No.265/A, N.J. Industrial Estate, Chinch Pada, Gokhivire Village,
Vasai Road, Thane – 401 208, Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
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|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
NOT AVAILABLE
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 |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter’s background |
Yes |
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8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
No |
|
12) Profitability for last three years |
No |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
Yes |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
No |
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20) Export / Import details (if
applicable) |
No |
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21) Market information |
-- |
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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 |
-- |
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27) Financials, if provided |
No |
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28) Incorporation details, if applicable |
Yes |
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29) Last accounts filed at ROC |
No |
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30) Major Shareholders, if available |
Yes |
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31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32)
PAN of Proprietor/Partner/Director, if available |
No |
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33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
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34)
External Agency Rating, if available |
No |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U74120MH2012PTC227205 |
|
Name of the
company |
GIC INSUFLEX CONDUCTORS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Unit No.G2, N.J.
Industrial Estate, Survey No.265/A, Chinchpada, Gokhivare Village, Vasai Road
(East), Thane – 401 208, Maharashtra, India E-Mail: bhvinca@gmail.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10370457 |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Others (Goods, Moveable
Machinery and Vehicles) |
|
Particular of
charge holder |
Bank of Baroda,
Mount Poinsur Branch, I.C. Colony, Church Compound, Borivali (West), Mumbai –
400 103, Maharashtra, India E-Mail: poinsu@bankofbaroda.com |
|
Nature of
description of the instrument creating or modifying the charge |
1) Supplemental
Composite Agreement of Hypothecation Goods, Book Debts, Moveable Machinery
and Vehicles 2) Further
Supplemental Memorandum of Deposit of Title Deeds (Both constitute
a single charge for Rs.251.717 millions Dated 05.09.2012 |
|
Date of
instrument Creating the charge |
05.09.2012 |
|
Amount secured by
the charge |
Rs.251.717
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Term Loan-Base
Rate+4.25% i.e. 14.75% p.a. with monthly rests, Cash Credit-Base Rate+4.75%
i.e. 15.25% p.a. with monthly rests, PC/PCFC-Base Rate+1% i.e. 11.50% p.a.
with monthly rests, all subject to change Terms of
Repayment: Term Loan -
Repayable in 36 monthly installments of Rs.0.216 million each, Term Loan (Fresh)
- Repayable in 39 monthly installments of Rs.0.555 million each, Cash Credit and
PC/PCFC - On Demand Margin: Term Loan - 40%,
Term Loan (Fresh) - New Machinery 25%, Second hand Machinery 44.04%, Overall
Margin 38.46%, Cash Credit -
25%, PC/PCFC - 25%, LC - 30%, Bank
Guarantee - 20% cash Margin Extent and
Operation of the charge: Hypothecation by
way of First Charge in respect of Borrowers Stocks, Book Debts and Fixed
Assets and Extension of Equitable Mortgage by deposit of Title Deeds in
respect of Borrower's immovable properties
for enhanced Credit facilities
: 1)Term Loan - Rs.6.717 millions, 2) Term Loan (Fresh) - Rs.20.000 millions,
3) Cash Credit - Rs.44.500 millions, 4) PC/PCFC cum FBP/UFBP/PSCFC -
Rs.45.000 millions, 5) Forward Contract - Rs.10.000 millions, 6) Bank
Guarantee - Rs.0.500 millions, 7) Inland/Import LC - Rs.125.000 millions
aggregating Rs.251.717 millions Others: Gupta Industrial
Corporation, a Partnership Firm converted into Joint Stock company under Part
IX of the Companies Act, 1956 in the name and style of GIC INSUFLEX
CONDUCTORS PRIVATE LIMITED with all its assets both movable and immovable and
liabilities as going concern. All the Asset and Liabilities of the Said
partnership Firm M/s Gupta Industrial Corporation now belongs to GIC INSUFLEX
CONDUCTORS PRIVATE LIMITED. Limits sanctioned to Gupta Industrial Corporation,
continued by the Company |
|
Short particulars
of the property charged |
Hypothecation by
way of First Charge in respect of Borrowers Stocks, Book Debts and Fixed
Assets and Extension of Equitable Mortgage by Deposit of Title Deeds in
respect of Borrower's Immovable Property being Unit No.43, Madhuban
Industrial Estate, Mahakali Vaves Road, Andheri (East), Mumbai together with
Furniture, Fixtures and Fittings lying therein for enhanced Credit facilities : 1) Term Loan - Rs.6.717
millions, 2) Term Loan (Fresh) - Rs.20.000 millions, 3) Cash Credit -
Rs.44.500 millions, 4) PC/PCFC cum FBP/UFBP/PSCFC - Rs.45.000 millions,
5)Forward Contract - Rs.10.000 millions, 6) Bank Guarantee - Rs.0.500
million, 7) Inland/Import LC - Rs.125.000 millions aggregating Rs.251.717
millions |
|
Particulars of
the present modification |
By present
modification Dated 05.09.2012 the Bank has enhanced the credit facilities
upto Rs.251.717 millions and Borrower has extended the existing mortgage by
deposit of title deeds in respect of immovable property for the total
enhanced Credit Facility of Rs.251.717 millions. Thus by Present Modification
the total Limit stands at Rs.251.717 millions |
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 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 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.52.78 |
|
|
1 |
Rs.85.16 |
|
Euro |
1 |
Rs.67.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.