|
Report Date : |
23.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
BANCO GASKETS ( |
|
|
|
|
Registered
Office : |
Bil, Near
Bhaili Railway Station, |
|
|
|
|
Country : |
|
|
|
|
|
Date of
Incorporation : |
26.08.2011 |
|
|
|
|
Com. Reg. No.: |
04-066886 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.350.000
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25199GJ2011PLC066886 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDB02375C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECB6694C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Gaskets and Radiators. |
|
|
|
|
No. of Employees
: |
130 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
Recently commenced business activity |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively new company having moderate track. Even thought
the company was incorporated during August 2011, it has commenced its
business activities during March 2012. Networth of the company appears to be good. Payment terms are unknown. The company can be considered for business dealings with great caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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. Harihar |
|
Designation : |
Finance Department |
|
Contact No.: |
91-265-2680220 |
|
Date : |
22.10.2012 |
LOCATIONS
|
Registered Office : |
Bil, Near
Bhaili Railway Station, |
|
Tel. No.: |
91-265-2680220/ 21/ 22/ 23 |
|
Fax No.: |
91-265-2680433 |
|
E-Mail : |
|
|
|
|
|
Factory/ Godown : |
Anakhi, Taluk Jambusar, District Bharuch – 392 150, |
DIRECTORS
As on 03.08.2012
|
Name : |
Mr. Samir Kanubhai Patel |
|
Designation : |
Director |
|
Address : |
52, Urmi Society, |
|
Date of Birth/Age : |
25.03.1960 |
|
Date of Appointment : |
26.08.2011 |
|
DIN No.: |
00161448 |
|
|
|
|
Name : |
Mr. Vimal Kanubhai Patel |
|
Designation : |
Director |
|
Address : |
60, Alkapuri Society, Vadodara – 390 007, |
|
Date of Birth/Age : |
21.03.1953 |
|
Date of Appointment : |
26.08.2011 |
|
DIN No.: |
00161625 |
|
|
|
|
Name : |
Mr. Mehul Kanubhai Patel |
|
Designation : |
Director |
|
Address : |
58, Alkapuri Society, Alkapuri, Vadodara – 390 007, |
|
Date of Birth/Age : |
29.10.1964 |
|
Date of Appointment : |
26.08.2011 |
|
DIN No.: |
01772099 |
|
|
|
|
Name : |
Ms. Deepti Sharma |
|
Designation : |
Director |
|
Address : |
A-1/6, Shantidham Bunglows, |
|
Date of Birth/Age : |
13.10.1967 |
|
Date of Appointment : |
03.08.2012 |
|
DIN No.: |
03630613 |
|
|
|
|
Name : |
Mr. Yogeshkumar Jayantilal Shah |
|
Designation : |
Director |
|
Address : |
48-B, Dhanlaxmi Society No.1, Behind Arya Kanya Vidhyalay, Karelibaug,
Vadodara – 390 018, |
|
Date of Birth/Age : |
26.08.1955 |
|
Date of Appointment : |
03.08.2012 |
|
DIN No.: |
03630614 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Dilipkumar Talati |
|
Designation : |
Secretary |
|
Address : |
39/C, Mangal Jyot Society, Near |
|
Date of Birth/Age : |
15.07.1973 |
|
Date of Appointment : |
31.03.2012 |
|
PAN No.: |
ACFPT4560R |
|
|
|
|
Name : |
Mr. Harihar |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 03.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Banco Products ( |
|
34999500 |
|
Vimal Kanubhai Patel nominee of Banco Products ( |
|
10 |
|
Samir Kanubhai Patel nominee of Banco Products ( |
|
10 |
|
Mehul Kanubhai Patel nominee of Banco Products ( |
|
10 |
|
Shailesh Anantrai Thakker nominee of Banco Products ( |
|
10 |
|
Deepti Gaurav Sharma nominee of Banco Products ( |
|
10 |
|
Ratanlal Radhakishan Kedia nominee of Banco Products ( |
|
450 |
|
Total |
|
35000000 |
As on 03.08.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Gaskets and Radiators. |
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
130 (Approximately) |
|
|
|
|
Bankers : |
v Kotak Mahindra
Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai – 400
021, Maharashtra, India v State Bank of |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
v
Banco Products ( v
Banco Aluminum Limited, |
CAPITAL STRUCTURE
As on 03.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35000000 |
Equity Shares |
Rs.10/- each |
Rs.350.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35000000 |
Equity Shares |
Rs.10/- each |
Rs.350.000
millions |
|
|
|
|
|
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 |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
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 |
|
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 |
No |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
No |
|
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 |
No |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U25199GJ2011PLC066886 |
|
Name of the
company |
BANCO GASKETS ( |
|
Address of the
registered office or of the principal place of business in |
Bil, Near Bhaili
Railway Station, E-Mail: sec@bancoindia.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property
(not being pledge) |
|
Particular of
charge holder |
State Bank of E-Mail: pramodkumar1@sbi.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Joint Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
20.09.2012 |
|
Amount secured by
the charge |
Rs.250.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Extent and
Operation of the charge: The credit
facilities are secured by way of hypothecation of assets more particularly
described in the schedule to the Joint Deed of Hypothecation Others: Credit Facilities
- SBI - CC - Rs.100.000 millions + Import/Inland Letter of Credit - Rs.10.000
millions + Bank Guarantee – Rs.10.000 millions = Rs.120.000 millions, HDFC -
CC - Rs.30.000 millions, Kotak Mahindra Bank Limited - CC - Rs.100.000
millions = Aggregating to Rs.250.000 millions |
|
Short particulars
of the property charged |
The whole of the
Current Assets of the Borrower namely, Stocks of Raw Materials, Stocks in Process,
Semi-Finished and Finished Goods, Stores and Spares not relating to Plant and
Machinery (consumable stores and spares), Bills Receivables and Book Debts
and all other current assets both present and future whether now lying loose
or in cases or which are now lying or stored in or about or shall hereinafter
from time to time during the continuance of the security of these presents be
brought into or upon or be stored or be in or about of the Borrower's
factories, premises and godowns situated at Anakhi, District Bharuch, in the
state of Gujarat or wherever else the same may be or be held by any party to
the order or disposition of the Borrower or in the course of transit or on
high seas or on order or delivery, howsoever and wheresoever in the possession
of the Borrower and either by way of substitution or addition. |
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.53.67 |
|
|
1 |
Rs.86.05 |
|
Euro |
1 |
Rs.70.07 |
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 |
5 |
|
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 |
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 |
|
29 |
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.