|
Report Date : |
04.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHREYA POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
202, 2nd Floor, Sri Ganesh Business Centre, E – 35, |
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Country : |
India |
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|
|
|
Date of
Incorporation : |
20.01.2011 |
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|
|
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Com. Reg. No.: |
55-212897 |
|
|
|
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Capital Investment
/ Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25191DL2011PTC212897 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of International Standard FRP Products. |
|
|
|
|
No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (13) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Very small company |
|
|
|
|
Payment Behaviour : |
Slow |
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|
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Litigation : |
Clear |
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Comments : |
Subject is a successor of ‘Shreya Polymers’ a proprietory concern
started in the year 2006. It has achieved minimal sales during 2012. However, trade relations are
reported as improving. Business is active. Payments are reported to be slow. The company must be considered for business dealings on a safe and
secured 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 |
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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 |
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 PARTED BY
|
Name : |
Mr. Sunil Kumar |
|
Designation : |
Director |
|
Contact No.: |
91-9873169262 |
|
Date : |
31.08.2012 |
LOCATIONS
|
Registered Office : |
202, 2nd Floor, Sri Ganesh Business Centre, E – 35, |
|
Tel. No.: |
91-120-4348771/ 6581895 |
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Mobile No.: |
91-9873169262 (Mr. Sunil Kumar) |
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Fax No.: |
91-120-4348771 |
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E-Mail : |
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Website : |
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Area : |
600 Sq ft |
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Location : |
Owned |
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|
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Factory : |
Plot No.S-24, Site 4, Industrial Area, Sahibabad, Ghaziabad – 201010,
Uttar Pradesh, India |
|
Area : |
25000 Sq ft |
|
Location : |
Rented |
DIRECTORS
|
Name : |
Mr. Sunil Kumar |
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|
Designation : |
Managing Director |
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Address : |
C-569 A, Brij Vihar, Post Chander Nagar, |
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Date of Birth/Age : |
20.07.1973 |
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Qualification : |
LLB, BA, MBA |
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Date of Appointment : |
20.01.2011 |
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DIN : |
02901411 |
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Other Directorship :
|
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Name : |
Mrs. Geeta Singh |
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Designation : |
Director |
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Address : |
C-569 A, Brij Vihar, Post Chander Nagar, |
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Date of Birth/Age : |
12.07.1974 |
|||||||||||||||||||||||||||
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Qualification : |
Graduate |
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Date of Appointment : |
20.01.2011 |
|||||||||||||||||||||||||||
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DIN : |
03319095 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 21.12.2010
|
Names of Shareholders |
|
No. of Shares |
|
Sunil Kumar |
|
2000 |
|
Geeta Singh |
|
8000 |
|
|
|
|
|
Total |
|
10000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of International Standard FRP Products. |
|
|
|
|
Products : |
·
FRP Tanks ·
Fume Extraction System ·
Scrubber System ·
FRP Grating ·
Pickling Plant ·
FRP Vessels ·
Fibre Glass Fume Exhaust Systems ·
FRP Cooling Towers ·
FRP Pipe and Fittings ·
Storage Tank ·
Architectural Expansion Joints ·
FRV Tanks ·
GRP Tanks ·
Blower ·
FRP Airator |
|
|
|
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Exports : |
|
|
Products : |
FRP Products |
|
Countries : |
Asian Country |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Polymer Industries Limited |
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|
|
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Customers : |
End Users
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No. of Employees : |
35 (Approximately) |
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|
|
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Bankers : |
|
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|
|
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Facilities : |
Cash Credit Rs.1.200 Millions (Form Corporation Bank) |
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|
|
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Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sbansal and Company Chartered Accountants |
|
Address : |
Delhi, India |
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|
|
|
Sister Concern : |
Name: AS Engineering
and Fabrication Address: 202, 2nd
Floor, Sri Ganesh Business Centre, E – 35, Line of
Business: Manufacturer and Exporter of International Standard FRP Products. |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/-each |
Rs.0.100 million |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/-each |
Rs.0.100 million |
|
|
|
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
2011-2012 |
2010-2011 |
|
Sales Turnover (Approximately) |
|
22.500 |
1.100 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.30.000 Millions
The above information has been parted by Mr. Sunil Kumar
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 |
Yes |
|
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 two years |
Yes |
|
12] |
Profitability for last three years |
No |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
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 |
Trade References:
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U25191DL2011PTC212897 |
|
Name of the
company |
SHREYA POLYMERS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
202, 2nd Floor, Sri Ganesh Business Centre, E – 35, Jawahar
Park, Laxmi Nagar, Delhi – 110092, India E-mail: sunil2003delhi@yahoo.com
|
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Others
(Hypothecation of stocks and other current assets) |
|
Particular of
charge holder |
Corporation Bank, Deep Memorial Public School, A Block Ramaprastha,
Chander Nagar, Ghaziabad - 201011, Uttar Pradesh, India E-mail: sunil.singhal.ca@gmail.com
|
|
Nature of
instrument creating charge |
Common deed of
hypothecation of movables / Assets / Debts |
|
Date of
instrument Creating the charge |
14.12.2011 |
|
Amount secured by
the charge |
Rs. 1.200 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Base rate + 1.10%
i.e. 11.75% p.a. Subject to revision by Bank from time to time Terms of
Repayment CC - Repayable on
demand Margin Stocks - 30% Book debts upto
90 days - 40% Extent and
Operation of the charge 100% |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of Stocks
and Book Debts Hypothecation of
al Fixed Assets and Current Assets both present and future |
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.55.45 |
|
|
1 |
Rs.87.98 |
|
Euro |
1 |
Rs.69.70 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
13 |
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.