|
Report Date : |
25.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
BANSAL FOREST PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
MCK No. 603/15, Timber Market, Jind Road, Kaithal-136027, Haryana |
|
|
|
|
Country : |
|
|
|
|
|
Date of
Incorporation : |
17.03.2011 |
|
|
|
|
Com. Reg. No.: |
05-042448 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.8.900
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U20296HR2011PTC042448 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKB04475C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECB4663P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of Timber. |
|
|
|
|
No. of Employees
: |
50 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 35000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a successor of “Bansal Timber Store” a partnership concern established
in year 1982. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Deepak Bandlish |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-9992023774 |
|
Date : |
21.09.2012 |
LOCATIONS
|
Registered Office : |
MCK No. 603/15, Timber Market, Jind Road, Kaithal-136027, Haryana,
India |
|
Tel. No.: |
91-1746-223217 |
|
Mobile No.: |
91-9992023774 [Mr. Deepak Bandlish] |
|
Fax No.: |
91-1746-229173 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office 1 : |
258, Mithi Road, Gandhi Dham, Kutch, Gujarat, India |
|
Tel. No.: |
91-2836-238180 |
|
Fax No.: |
91-2836-238865 |
|
|
|
|
Branch Office 2 / Warehouse: |
Ambala Road, N.H. 62, Kaithal, Haryana, India |
DIRECTORS
|
Name : |
Mr. Saurabh Rameshchand Bansal |
|
Designation : |
Director |
|
Address : |
5, Navaratna Society, Medhapar (Borichi), Taluka Anjar, District
Kutch, Meghpar-370110, Gujarat, India |
|
Date of Birth/Age : |
10.10.1981 |
|
Date of Appointment : |
18.03.2011 |
|
Din No.: |
03452770 |
|
|
|
|
Name : |
Mr. Kailashchand Bansal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ramesh Bansal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sushil Bansal |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Deepak Bandlish |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 11.03.2011
|
Names of Shareholders |
No. of Shares |
|
Kailashchand Bansal |
2500 |
|
Sushil Bansal |
3400 |
|
Anju Bansal |
100 |
|
Lalit Mittal |
100 |
|
Ramesh Bansal |
1900 |
|
Saurabh Rameshchand Bansal |
1900 |
|
Shveta Bansal |
100 |
|
TOTAL
|
10000 |
AS ON 30.04.2011
|
Names of Allottees |
No. of Shares |
|
Kailashchand Bansal |
20000 |
|
Sushil Bansal |
27200 |
|
Anju Bansal |
800 |
|
Lalit Mittal |
800 |
|
Ramesh Bansal |
15200 |
|
Saurabh Rameshchand Bansal |
15200 |
|
Shveta Bansal |
800 |
|
TOTAL
|
80000 |
AS ON 23.03.2012
|
Names of Allottees |
No. of Shares |
|
Kailashchand Bansal |
50000 |
|
Aaina |
75000 |
|
Anju Bansal |
55000 |
|
Lalit Mittal HUF |
70000 |
|
Ramesh Bansal |
50000 |
|
Saurabh Rameshchand Bansal and Sons HUF |
70000 |
|
Saurabh Rameshchand Bansal |
60000 |
|
Kailashchand Bansal HUF |
40000 |
|
Ramesh Bansal HUF |
35000 |
|
Sushil Bansal |
50000 |
|
Sushil Bansal HUF |
60000 |
|
Om Vati |
25000 |
|
Rajni Rani |
65000 |
|
Uma Rani |
20000 |
|
Nikita |
75000 |
|
TOTAL
|
800000 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Timber. |
|
|
|
|
Imports : |
|
|
Products : |
Timber |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C / Credit [120 to 180 Days] |
|
|
|
|
Purchasing : |
L/C / Credit [120 to 180 Days] |
GENERAL INFORMATION
|
Customers : |
Wholesalers |
|
|
|
|
No. of Employees : |
50 [Approximately] |
|
|
|
|
Bankers : |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West),
Mumbai-400013, Maharashtra, India |
|
|
|
|
Facilities : |
Cash Credit Rs.56.000 Millions Term Loan Rs. 1.000 Million |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dipakan Gupta and Company Chartered Accountants |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
890000 |
Equity Shares |
Rs.10/- each
|
Rs.8.900
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover [Approximately] |
|
960.000 |
690.000 |
Expected Sales (2012-13) : Rs.1500.000 Millions. [Market Demands]
The above information has been parted by Mr. Deepak Bandlish.
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 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10304365 |
|
Corporate
identity number of the company |
U20296HR2011PTC042448 |
|
Name of the
company |
BANSAL FOREST PRODUCTS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
MCK No. 603/15, Timber Market, Jind Road, Kaithal-136027, Haryana,
India |
|
Type of charge |
Book Debts Movable Property
[not being pledge] Floating Charge |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel
(West), Mumbai-400013, Maharashtra, India |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum
recording past transactions of creation of Mortgage by Delivery of Title
Deeds. |
|
Date of
instrument Creating the charge |
29.05.2012 |
|
Amount secured by
the charge |
Rs.475.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be communicated by the Bank from time to time. Terms of Repayment On Demand. Margin As may be
stipulated by the Bank from time to time. Extent and Operation of the charge The Company
accorded and gave oral consent to Bank to continue to hold and retain the
title deeds (by way of Constructive delivery) in respect of its immovable
properties as stated under Item No.15 below, as security for repayment of
Rs.475.000 Millions by the Company, together with principal, interest,
liquidated damages, costs, charges and expenses. |
|
Short particulars
of the property charged |
Immovable property
being Commercial Property Situated at MCK No 861/13, Patti Godor, Kanwal
Colony, Kaithal ( Haryana ) measuring
approx.121 sq.yds. Immovable
property being Commercial Property measuring approx.159 sq.yds situated at
MCK No.860/13, Patti Godor Kanwal Colony, Kaithal (Haryana). Immovable
property being Six godowns Situated at MCK No.603/15, Timber Market, Jind
Road Kaithal (Haryana) Pin-136 027. |
|
Particulars of
the present modification |
The charge shall
now stand increased from Rs. 373.000 Millions to Rs. 475.000 Millions, in
favour the Bank against the equitable mortgage of immovable Kaithal
(Haryana). |
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 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.53.29 |
|
|
1 |
Rs.86.44 |
|
Euro |
1 |
Rs.68.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
28 |
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.