. Summary Information
|
|
|
Country |
India |
|
Company Name |
NEWAGE FIRE PROTECTION ENGINEERS PRIVATE LIMITED |
Principal Name 1 |
Mr. Mitul Bharat Shah |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Milind Ashok Shah |
|
|
|
Registration # |
11-187858 |
|
Street Address |
101-102,
Champaklal Udyog Bhavan, Sion (East), Mumbai – 400022, Maharashtra |
||
|
Established Date |
31.10.2008 |
SIC Code |
-- |
|
Telephone# |
91-22-24077421 |
Business Style 1 |
Trader |
|
Fax # |
91-22-24074229 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Fire Fighting Equipments and Systems |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.5,350,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or
relatives of Directors - 95.33% Other top fifty shareholders -
4.67% |
Banking |
Bank of Baroda |
|
Public Limited Corp. |
NO |
Business Period |
4 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(43) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates |
India |
Newage Fire Protection Industries Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
65,961,000 |
Current Liabilities |
32,533,000 |
|
Inventories |
9,938,000 |
Long-term Liabilities |
26,207,000 |
|
Fixed Assets |
1,364,000 |
Other Liabilities |
2,864,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
61,604,000 |
|
Invest& other Assets |
160,000 |
Retained Earnings |
10,469,000 |
|
|
|
Net Worth |
15,819,000 |
|
Total Assets |
77,423,000 |
Total Liab. & Equity |
77,423,000 |
|
Total Assets (Previous Year) |
3,116,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Total Income |
193,492,000 |
Net Profit |
5,560,000 |
|
Sales(Previous yr) |
4,429,000 |
Net Profit(Prev.yr) |
159,000 |
MIRA
INFORM REPORT
|
Report Date : |
09.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
NEWAGE FIRE PROTECTION ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
101-102, Champaklal Udyog Bhavan, Sion (East), Mumbai –
400022, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
31.10.2008 |
|
|
|
|
Com. Reg. No.: |
11-187858 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.350 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900MH2008PTC187858 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN166608E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCN9026C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Fire Fighting Equipments and Systems. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 63000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade relations
are reported to be fair. Business is active. Payments are reported to be
usually correct and as per commitments. The Company can be considered 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
LONG TERM RATING : CARE BB- |
|
Rating Explanation |
Considered to have moderate risk of default regarding timely servicing
of financial obligation. |
|
Date |
March, 2012 |
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.
LOCATIONS
|
Registered Office : |
101-102, Champaklal Udyog
Bhavan, Sion (East), Mumbai – 400022, Maharashtra, India |
|
Tel. No.: |
91-22-24077421 |
|
Fax No.: |
91-22-24074229 |
|
E-Mail : |
|
|
Website: |
|
|
|
|
|
Head Office : |
7, Champaklal Industrial Estate, Sion (East), Mumbai – 400022, Maharashtra, India |
|
Tel. No.: |
91-22-24077421 / 43511500 |
|
Fax No.: |
91-22-24074229 / 24071320 |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Mitul Bharat Shah |
|
Designation : |
Whole-time director |
|
Address : |
471-Bhanukunj, Adenwala Road, Matunga, Mumbai – 400019, Maharashtra,
India |
|
Date of Birth/Age : |
13.11.1979 |
|
Date of Appointment : |
31.10.2008 |
|
DIN No.: |
01344606 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29193MH1986PTC040422 |
FITECH
EQUIPMENTS(INDIA) PRIVATE LIMITED |
Director |
01/10/1998 |
01/10/1998 |
Active |
NO |
|
2 |
U65990MH1981PTC024409 |
TIVOLI
INVESTMENT AND TRADING COMPANY PRIVATE LIMITED |
Director |
03/08/2004 |
03/08/2004 |
Active |
NO |
|
3 |
U25209MH1989PTC054677 |
ARMTEX
RUBBER PRIVATE LIMITED |
Director |
24/08/2004 |
24/08/2004 |
Active |
NO |
|
4 |
U25100MH1990PTC055283 |
BLINDEX
RUBBER PRIVATE LIMITED |
Director |
13/09/2006 |
13/09/2006 |
Active |
NO |
|
5 |
U74900MH2008PTC187858 |
NEWAGE
FIRE PROTECTION ENGINEERS PRIVATE LIMITED |
Whole-time
director |
31/10/2008 |
31/10/2008 |
Active |
NO |
|
6 |
U65990MH1982PTC027469 |
SANGHAVI
HOLDINGS AND TRADING COMPANY PRIVATE LIMITED |
Director |
14/04/2009 |
14/04/2009 |
Active |
NO |
|
7 |
U29253MH2010PTC206683 |
NEWAGE
FIRE PROTECTION INDUSTRIES PRIVATE LIMITED |
Director |
17/08/2010 |
17/08/2010 |
Active |
NO |
|
8 |
U29253MH2010PTC208807 |
NEWAGE
INDUSTRIES FIRE PROTECTION ENGINEERS PRIVATE LIMITED |
Director |
08/10/2010 |
08/10/2010 |
Active |
NO |
|
9 |
U65990MH1981PTC024408 |
MIGHTY
INVESTMENT AND TRADING COMPANY PRIVATE LIMITED |
Additional
director |
01/09/2012 |
01/09/2012 |
Active |
NO |
|
Name : |
Mr. Milind Ashok Shah |
|
Designation : |
Whole-time director |
|
Address : |
3rd Floor, Ganga Niwas, 521-C, Adenwala Road, Matunga,
Mumbai – 400019, Maharashtra, India |
|
Date of Birth/Age : |
01.09.1978 |
|
Date of Appointment : |
31.10.2008 |
|
DIN No.: |
01565881 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29193MH1986PTC040422 |
FITECH
EQUIPMENTS(INDIA) PRIVATE LIMITED |
Director |
01/10/1998 |
01/10/1998 |
Active |
NO |
|
2 |
U25209MH1989PTC054677 |
ARMTEX
RUBBER PRIVATE LIMITED |
Director |
01/02/1999 |
01/02/1999 |
Active |
NO |
|
3 |
U65990MH1981PTC024409 |
TIVOLI
INVESTMENT AND TRADING COMPANY PRIVATE LIMITED |
Director |
01/02/2001 |
01/02/2001 |
Active |
NO |
|
4 |
U67120GJ1974PTC002507 |
L M S
FOUNDRIES PRIVATE LIMITED |
Director |
12/08/2002 |
12/08/2002 |
Active |
NO |
|
5 |
U72200MH2007PTC175875 |
WISH
I.T. SERVICES PRIVATE LIMITED |
Director |
13/11/2007 |
13/11/2007 |
Active |
NO |
|
6 |
U74900MH2008PTC187858 |
NEWAGE
FIRE PROTECTION ENGINEERS PRIVATE LIMITED |
Whole-time
director |
31/10/2008 |
31/10/2008 |
Active |
NO |
|
7 |
U65990MH1982PTC027469 |
SANGHAVI
HOLDINGS AND TRADING COMPANY PRIVATE LIMITED |
Director |
14/04/2009 |
14/04/2009 |
Active |
NO |
|
8 |
U29253MH2010PTC206683 |
NEWAGE
FIRE PROTECTION INDUSTRIES PRIVATE LIMITED |
Director |
17/08/2010 |
17/08/2010 |
Active |
NO |
|
9 |
U29253MH2010PTC208807 |
NEWAGE
INDUSTRIES FIRE PROTECTION ENGINEERS PRIVATE LIMITED |
Director |
08/10/2010 |
08/10/2010 |
Active |
NO |
|
10 |
U72300MH2012PTC230813 |
WISHTEL
PRIVATE LIMITED |
Director |
09/05/2012 |
09/05/2012 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Mitul Bharat Shah |
|
165000 |
|
Milind Ashok Shah |
|
162500 |
|
Ashok Jayantilal Shah |
|
2500 |
|
Leena B. Shah |
|
45000 |
|
Bharat J. Shah HUF |
|
45000 |
|
Daksha A. Shah |
|
45000 |
|
Ashok J Shah HUF |
|
45000 |
|
Prraneta Industries Limited, India |
|
10000 |
|
Shri Ganesh Spinners Limited, India |
|
7500 |
|
Emporis Projects Limited, India |
|
7500 |
|
Total |
|
535000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
95.33 |
|
Other top fifty shareholders |
4.67 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Fire Fighting Equipments and Systems. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
Bank of Baroda, Sion West Branch, 36, Sion House, Sion Kurla Road,
Sion West, Mumbai – 400022, Maharashtra, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K. P. Shah and Company Chartered Accountants |
|
Address : |
11-B, 1st Floor, Khatau Building, A D Mody marg, Fort,
Mumbai – 400023, Maharashtra, India |
|
Tel. No.: |
91-22-22664559 / 60 |
|
Fax No.: |
91-21-22665195 |
|
PAN No.: |
AAJPS3098P |
|
|
|
|
Associates : |
·
Tivoli Invest and Trading Company Private Limited ·
Newage Fire Protection Industries Private Limited ·
Universal Fire Equipments Corporation ·
Blindex Rubber Private Limited ·
New Age Industries ·
Fitech Equipments India Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
Rs.10/- each |
Rs.6.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
535000 |
Equity Shares |
Rs.10/- each |
Rs.5.350
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 |
5.350 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
10.469 |
0.159 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
15.819 |
0.259 |
0.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
19.101 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
7.106 |
0.106 |
0.031 |
|
|
TOTAL BORROWING |
26.207 |
0.106 |
0.031 |
|
|
DEFERRED TAX LIABILITIES |
0.024 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
42.050 |
0.365 |
0.131 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.364 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
9.938
|
0.306 |
0.000 |
|
|
Sundry Debtors |
56.401
|
0.943 |
0.000 |
|
|
Cash & Bank Balances |
6.137
|
0.428 |
0.048 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
3.423
|
1.362 |
0.028 |
|
Total
Current Assets |
75.899
|
3.039 |
0.076 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
26.064
|
2.661 |
0.033 |
|
|
Other Current Liabilities |
6.469
|
0.000 |
0.000 |
|
|
Provisions |
2.840
|
0.090 |
0.000 |
|
Total
Current Liabilities |
35.373
|
2.751 |
0.033 |
|
|
Net Current Assets |
40.526
|
0.288 |
0.043 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.160 |
0.077 |
0.088 |
|
|
|
|
|
|
|
|
TOTAL |
42.050 |
0.365 |
0.131 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
193.492 |
4.429 |
|
|
|
Other Income |
|
|
0.004 |
|
|
|
TOTAL (A) |
|
193.492 |
4.433 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
|
|
3.725 |
|
|
|
Administrative Expenses |
|
|
0.292 |
|
|
|
Preliminary Expenses Written off |
|
|
0.019 |
|
|
|
Auditor Remuneration |
|
|
0.017 |
|
|
|
Sales tax paid |
|
|
0.114 |
|
|
|
TOTAL (B) |
|
185.158 (Including
Financial Expenses and Depreciation) |
4.167 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
0.266 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.017 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
0.249 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
8.334 |
0.249 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
2.774 |
0.090 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
5.560 |
0.159 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
0.159 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
|
5.719 |
0.159 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
28.714 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
10.39 |
15.90 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.87
|
3.59 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
5.62 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.79
|
8.19 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.53
|
0.96 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.89
|
11.03 |
0.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.15
|
1.10 |
2.30 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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
three 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 |
Yes |
|
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 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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE:
The registered office address of the company has been shifted from “7,
Champaklal Udyog Bhavan, Sion (East), Mumbai – 400022, Maharashtra, India” to
the present address w.e.f. 01.06.2010.
FINANCIAL RESULTS:
During the year the company has earned net
profit of Rs.8.334 Millions before making provision for taxation of Rs.2.750
Millions on total sales of Rs.193.500 Millions
CONTINGENT LIABILITIES:
(Rs. In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
Bank Guarantees |
5.720 |
0.385 |
|
Remaining
Outstanding -
Margin given against
Bank Guarantee |
3.383 |
0.385 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U74900MH2008PTC187858 |
|
Name of the company |
NEWAGE FIRE PROTECTION ENGINEERS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
101-102, Champaklal Udyog Bhavan, Sion (East), Mumbai – 400022, Maharashtra, India E-mail Id : manish@newagefireprotection.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of charge holder |
Bank of Baroda, Sion West Branch, 36, Sion House, Sion Kurla Road, Sion West, Mumbai – 400022, Maharashtra, India E-mail Id : shirishshetye@gmail.com |
|
Nature of instrument creating charge |
Composite Hypothecation Agreement. |
|
Date of instrument Creating the charge |
16/03/2011 |
|
Amount secured by the charge |
Rs.117.500 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 3% above base rate of the Bank p.a. with monthly rests. Terms of Repayment On Demand. Margin 25% on stocks. 40% on book debts. 20% cash margin in respect of Inland/Import LCs and Inland/Foreign BG. Extent and Operation of the charge The charge is created to secure the Cash Credit (Hypothecation of Stocks/Book Debts) - Rs.60.000 Millions, Inland/Import LCs (DP/DA usance 90 days) - Rs.27.500 Millions and Inland/Foreign Bank Guarantees (Performance) - Rs.30.000 Millions, aggregating to Rs.117.500 Millions, together with interest, interest tax, further interest, additinal interest, penal interest, commission fees, cost, charges and expenses incurred or to be incurred by the Bank till date of payment. |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
Stocks, both present and future and all stocks of RMs, WIP, SFGs, FGs such as Fire Fighting Equipments, packing materials and stores, etc. All the present and future book-debts, outstanding, monies receivable, claims, bills, contracts, engagements and securities, etc.. All the tangible movable machinery and plant and cranes, boats and crafts and the vehicles together with spares, tools and accessories and other movables, both present and future and the furniture, fixtures and fitting and office equipment whether installed or not and whether lying loose or in cases at Sion Mumbai and other places. |
FIXED ASSETS:
·
Computers
·
Plant and Machinery
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 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.52.21 |
|
|
1 |
Rs.84.00 |
|
Euro |
1 |
Rs.67.75 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
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 |
|
43 |
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.