|
Report Date : |
22.09.2012 |
|
|
|
Country |
|
|
Company Name |
Chisel Sports Private Limited |
Principal Name 1 |
Mr. Dinesh Kumar Goel |
|
Status |
Moderate |
Principal Name 2 |
Mr. Vivek Kumar Goel |
|
|
|
Registration # |
11-203831 |
|
Street Address |
G-73, Eternity Mall, Teen Haath Naka, Thane – 400 604, |
||
|
Established Date |
08.06.2010 |
SIC Code |
-- |
|
Telephone# |
91-22-25828820 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-25828820 / 40244244 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Garments |
|
|
# of employees |
20 Approximately |
Product Name 2 |
-- |
|
Paid up capital |
Rs.3,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or
relatives of Directors – 100% |
Banking |
Bank of |
|
Public Limited Corp. |
NO |
Business Period |
2 Year |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
Ca
(12) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Parent Company |
|
ASP Exports Limited |
-- |
|
Note |
- |
||
|
Balance Sheet as of |
-- |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
-- |
Current Liabilities |
-- |
|
Inventories |
-- |
Long-term Liabilities |
-- |
|
Fixed Assets |
-- |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
-- |
|
Invest& other Assets |
-- |
Retained Earnings |
-- |
|
|
|
Net Worth |
-- |
|
Total Assets |
-- |
Total Liab. & Equity |
-- |
|
Total Assets (Previous Year) |
-- |
|
|
|
P/L Statement as of |
-- |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
-- |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
IDENTIFICATION DETAILS
|
Name : |
CHISEL SPORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
G-73, Eternity Mall, Teen Haath Naka, Thane – 400 604, |
|
|
|
|
Country : |
|
|
|
|
|
Date of
Incorporation : |
08.06.2010 |
|
|
|
|
Com. Reg. No.: |
11-203831 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18109MH2010PTC203831 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEC08358A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Garments. |
|
|
|
|
No. of Employees : |
20 Approximately |
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 relatively new company having moderate track. The latest
financial of the company are missing from the government department. Also
management remain non co-operative denied to part any information of the
company. Payments are unknown. The company can be considered for business dealings on a 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 |
|
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.
|
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. Dinesh Kumar Goel |
|
Designation : |
Director |
|
Contact No.: |
91-9820082370 |
|
Date : |
18.09.2012 |
LOCATIONS
|
Registered Office : |
G-73, Eternity Mall, Teen Haath Naka, Thane – 400 604, |
|
Tel. No.: |
91-22-25828820 |
|
Mobile No.: |
91-9820082370 (Mr. Dinesh Kumar Goel) |
|
Fax No.: |
91-22-25828820 / 40244244 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
101-105, A-18, Harihar Complex, Dapode Bhiwandi, Thane – 421 302, |
|
Tel. No.: |
91-22-25828820 |
|
Area : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Dinesh Kumar Goel |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
72, Sea Lord ‘B’, Cuffe Parade, Mumbai – 400 005, |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
16.11.1959 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
08.06.2010 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
|||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Vivek Kumar Goel |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
502, A Wing, Dheeraj Gaurav Heights II, New |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
29.01.1969 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
08.06.2010 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00307149 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Dinesh Kumar Goel |
|
209000 |
|
Adeesh Dinesh Goel |
|
90000 |
|
Vivek Kumar Goel |
|
1000 |
|
Total |
|
300000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Garments. |
GENERAL INFORMATION
|
No. of Employees : |
20 Approximately |
|
|
|
|
Bankers : |
·
Bank of |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A. Hussain and Company Chartered Accountants |
|
|
|
|
Parent Company : |
ASP Exports Limited, Thane Line of
Business: Manufacturer of Fabrics. |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
450000 |
Equity Shares |
Rs.10/- each |
Rs.4.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
NOT AVAILABLE
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
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 |
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 |
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 |
FORM 8
|
Corporate identity number of the company |
U18109MH2010PTC203831 |
|
Name of the company |
CHISEL SPORTS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
G-73, Eternity Mall, Teen Haath Naka, Thane – 400 604, E-mail Id : |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of
the charge to be modified |
10269570 |
|
Type of charge |
·
Immovable property ·
Book debts ·
Movable property (not being pledge) ·
Others (Inventories and Current
Assets) |
|
Particular of charge holder |
Bank of India, Eros Theatre Building, J. Tata Road, Mumbai – 400 020, E-mail Id : churchgate.mumbaisouth@bankofindia.co.in |
|
Nature of instrument creating charge |
Hypothecation Cum Loan Agreement Sanction Letter, Revised limits of Foreign Bill Purchase {FBP} Rs.6.000 Millions and
Packing credit of Rs.6.000 Millions with a combination of them of Rs.6.000
Millions only. |
|
Date of instrument Creating the charge |
02.02.2012 |
|
Amount secured by the charge |
Rs.13.281 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest Term Loan-4% over Base Rate plus 0.50% Tenor premium Presently 15.25%
p.a with monthly rest. Cash credit-4% over Base Rate Presently 14.75% p.a.
with monthly rest. Packing Credit -12.25%. FBP -12.25%. Terms of Repayment The original sanction limit of Rs.7.000 Million is repayable in 60
monthly installments of Rs.0.117 Million each commencing from 6 months after
first disbursement. Door to door tenor is 66 months. Interest to be serviced
separately each month. Repayment of Term Loan has since commenced from June,
2011. The installments/Interest has been recovered upto November, 2011. At
present the account is out of order by Rs.0.149 Million due to
installments/interest due for the month of December, 2011. Margin Term Loan - 33.33% WC C/C -
Stocks - 25% Packing Credit - 25% Extent and Operation of the charge Hypothecation of Plant and Machineries, Current Assets, Inventories
and Debtors. 1. 5 Godowns nos - 118 to 122 at A-17 situated at Harihar Corporation
Complex, at Village Mouje Dapode, Taluka-Bhiwandi, District -Thane. 2. 5 Godowns nos - 101 to 105 at A-18 situated at Harihar Corpor |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Hypothecation of Plant and Machineries, Current Assets, Inventories
and Debtors. 1. 5 Godowns nos - 118 to 122 at A-17 situated at Harihar Corporation
Complex, at Village Mouje Dapode, Taluka-Bhiwandi, District -Thane. 2. 5 Godowns nos - 101 to 105 at A-18 situated at Harihar Corporation
Complex, at Village Mouje Dapode, Taluka-Bhiwandi, District -Thane. |
|
Particulars of the present
modification |
Revised limits of Foreign Bill Purchase {FBP} Rs.6.000 Millions and
Packing credit of Rs.6.000 Millions with a combination of them of Rs.6.000
Millions only. |
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.53.91 |
|
|
1 |
Rs.87.60 |
|
Euro |
1 |
Rs.70.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
NO |
|
--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.