MIRA
INFORM REPORT
|
Report Date : |
12.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
ZAK TRADE FAIRS AND EXHIBITIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Zak Towers, Old No.27, New No.49, Veerabadran Street, Nungambakkam,
Chennai-600034, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
24.10.2002 |
|
|
|
|
Com. Reg. No.: |
18-049787 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92490TN2002PTC049787 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trade Show and Exhibition Organizers |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
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 : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a established company having moderate track. Management
have failed to file the financial details with the investment department for
the year 2010-2011. And in the previous year there appear huge accumulated
losses recorded by the company. However, trade relations are reported to be
fair. Business is active. Payments are unknown. The company can be considered for business dealings on a safe and
secured trade terms and condition. |
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 |
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 / Head Office : |
Zak Towers, Old No.27, New No.49, Veerabadran Street, Nungambakkam,
Chennai-600034, Tamilnadu, India |
|
Tel. No.: |
91-44-42959595 |
|
Fax No.: |
91-44-28202728 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Located At ·
New Delhi ·
Mumbai |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Syed Zakir Ahmed |
|
Designation : |
Managing Director |
|
Address : |
Chennai-600034, Tamilnadu, India |
|
Date of Birth/Age : |
15.06.1954 |
|
Date of Appointment : |
26.10.2002 |
|
DIN No.: |
01098295 |
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 |
U92490TN2002PTC049787 |
ZAK
TRADE FAIRS AND EXHIBITIONS PRIVATE LIMITED |
Managing
director |
26/10/2002 |
26/10/2002 |
Active |
NO |
|
2 |
U45204TN2007PTC064407 |
PEACE
PROMOTERS AND DEVELOPERS PRIVATE LIMITED |
Managing
director |
07/08/2007 |
07/08/2007 |
Strike
off |
NO |
|
Name : |
Mr. Nasreen Zakir Ahmed |
|
Designation : |
Director |
|
Address : |
Chennai-600034, Tamilnadu, India |
|
Date of Birth/Age : |
30.07.1962 |
|
Date of Appointment : |
26.10.2002 |
|
DIN No.: |
01969765 |
|
|
|
|
Name : |
Mr. Syed Ahad Ahmed |
|
Designation : |
Director |
|
Address : |
Chennai-600034, Tamilnadu, India |
|
Date of Birth/Age : |
17.07.1987 |
|
Date of Appointment : |
01.04.2007 |
|
DIN No.: |
02156360 |
|
|
|
|
Name : |
Mr. Aafreen Ahmed |
|
Designation : |
Director |
|
Address : |
Chennai-600034, Tamilnadu, India |
|
Date of Birth/Age : |
20.10.1989 |
|
Date of Appointment : |
01.11.2007 |
|
DIN No.: |
02156318 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Syed Zakir Ahmed |
27500 |
|
Nasreen Zakir Ahmed |
10000 |
|
Syed Ahad Ahmed |
7500 |
|
Aafreen Ahmed |
5000 |
|
TOTAL
|
50000 |
AS ON 30.09.2010
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trade Show and Exhibition Organizers |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Riffai and Company Chartered Accountant |
|
Address : |
Safar, 14 (Old No36), Jagannathapuram, 3rd Street, Chetpet,
Cehnnai-600031, Tamilnadu, India |
|
PAN No.: |
AAFPA6891E |
|
|
|
|
Related Parties (As On 31.03.2009) |
·
AHAD Trading Company ·
ZAK Media and Publication ·
ZAK Digital Studio ·
ZAK Exhibitions (Bangladesh) LLC ·
ZAK Exhibitions (Singapore) Pte. Limited ·
ZAK Exhibitions Dubai ·
ZAK Exhibitions (USA) LLC |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.500 |
0.500 |
0.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(16.453) |
(15.550) |
(14.579) |
|
|
NETWORTH |
(15.953) |
(15.050) |
(14.079) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.130 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.309 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.439 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
(15.953) |
(15.050) |
(13.640) |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7.359 |
8.381 |
9.842 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
3.746 |
3.746 |
3.096 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.612
|
0.077 |
2.670 |
|
|
Cash & Bank Balances |
0.067
|
0.606 |
0.403 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
5.771
|
7.249 |
12.474 |
|
Total
Current Assets |
6.450
|
7.932 |
15.547 |
|
|
|
|
|
|
|
|
|
Sundry Creditors |
33.508
|
20.656 |
25.340 |
|
|
Other Current Liabilities |
|
12.255 |
15.327 |
|
|
Provisions |
0.000
|
2.198 |
1.458 |
|
Total
Current Liabilities |
33.508
|
35.109 |
42.125 |
|
|
Net Current Assets |
(27.058)
|
(27.177) |
(26.578) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
(15.953) |
(15.050) |
(13.640) |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
63.777 |
|
|
|
|
|
Other Income |
NA |
|
|
|
|
|
TOTAL |
NA |
80.698 |
99.787 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
62.579 |
80.069 |
99.686 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
62.579 |
80.069 |
99.686 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.192 |
0.629 |
0.101 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.086 |
1.427 |
1.611 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.106 |
(0.798) |
(1.510) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.219 |
0.827 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.106 |
(1.017) |
(2.337) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.12 |
(20.33) |
(46.74) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
(1.26) |
(2.34) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.17
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.60
|
(3.98) |
(5.30) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01)
|
0.05 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(2.10)
|
(2.33) |
(3.02) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.19
|
0.23 |
0.37 |
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
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 |
No |
PERFORMANCE
During the year,
the Company organized --- Exhibitions. The overall performance of each exhibitions
was well appreciated and accepted by all participants. Despite of manpower
shortages and global economic crisis in the business world, the turnover of the
company has shown a decline but they have been able to curtail certain expenses
and proved their promise in the last year Directors Report into action by
earning profit for the year.
FIXED ASSETS
·
Land
·
Building
·
Computer Equipments
·
Electrical Equipments
·
Office Equipments
·
Furniture and Fixtures
·
Miscellaneous Assets
·
Vehicles
WEBSITE DETAILS
GROUP PROFILE
Subject is a
professionally managed company, with trained manpower and offices in Chennai,
New Delhi, Bangalore and Mumbai in India and in Singapore, Bangladesh and USA
overseas. No event is impossible for their dynamic organization with the
"Can-Do" spirit.
Since the first
event in 1994 they have made steady progress which has accelerated in the past
few years crossing over 260 exhibitions to their credit. The rise of ZAK Group
coincided with the blossoming of the trade fairs as an industry in the country
aided by the trade liberalization and globalization of the business.
The core strength
of Subject is acting as a bridge between the buyer and the seller. Every event
has been a resounding success and in line with their objective of maintaining
international standards in organizing high quality professionally-managed and
value-added exhibitions.
Subject commitment
in this arena has propelled them to the forefront making us one of the top
exhibition and event managers in Asia. They will continue to identify sectors
which has potential and create platforms for the business and trade to blossom
and expand.
With India
emerging as the most promising market globally, ZAK Group is committed to be in
the forefront in the area of tradeshows and exhibitions by delivering world
class shows.
ZAK Group firmly
believes in the dictum "There Are Limitless Opportunities In Every
Industry, Where There Is An Open Mind There Will Always Be A Frontier".
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. 55.52 |
|
|
1 |
Rs. 88.84 |
|
Euro |
1 |
Rs. 70.85 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
1 |
|
--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 |
NO |
|
--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 |
|
12 |
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.