|
Report Date : |
10.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SRI SHAKTI GOURMET SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
402, Falcon Castle, Opposite One Indiabulls Centre,
Senapati Bapat Marg, Elphinstone Road, Lower Parel, Mumbai – 400013,
Maharashtra |
|
|
|
|
Country : |
India |
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|
|
|
Date of
Incorporation : |
16.04.2012 |
|
|
|
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Com. Reg. No.: |
11-229698 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15549MH2012PTC229698 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of all ready to use products like Snacks, Wheat, Grain etc |
|
|
|
|
No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
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 : |
Recently commenced commercial operation |
|
|
|
|
Payment Behaviour : |
Unknown |
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|
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|
Litigation : |
Clear |
|
|
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|
Comments : |
Even though the company was incorporated in the year 2012, the company
has to recently commenced its commercial operation from last one month. Trade
relations are reported to be improving. Business is active. Payments terms
are unknown. The company can be considered 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.
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. Maheshkumar Ramanlal Patel |
|
Designation : |
Director |
|
Contact No.: |
91-9819812236 |
|
Date : |
09.04.2013 |
LOCATIONS
|
Registered Office : |
402, Falcon Castle, Opposite One Indiabulls Centre, Senapati
Bapat Marg, Elphinstone Road, Lower Parel, Mumbai – 400013, Maharashtra,
India |
|
Tel. No.: |
91-22-22438266 |
|
Mobile No.: |
91-9819812236 (Mr. Maheshkumar Ramanlal Patel) |
|
Fax No.: |
91-22-22438266 |
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E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Manubhai Jethabhai Patel |
|
Designation : |
Director |
|
Address : |
201 Shalimar Apartments August Kranti Marg, Mumbai – 400036,
Maharashtra, India |
|
Date of Birth/Age : |
15.11.1930 |
|
Date of Appointment : |
16.04.2012 |
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DIN No.: |
01802589 |
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|
|
|
Name : |
Mr. Maheshkumar Ramanlal Patel |
|
Designation : |
Director |
|
Address : |
Kirit Kutir, R.C. Patel Estate, Akota, Vadodara – 390020, Gujarat,
India |
|
Date of Birth/Age : |
15.01.1952 |
|
Date of Appointment : |
16.04.2012 |
|
DIN No.: |
01500210 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Manubhai Jethabhai Patel |
|
500 |
|
Maheshkumar Ramanlal Patel |
|
500 |
|
Total
|
|
1000 |
BUSINESS DETAILS
|
Line of Business : |
Trader of all ready to use products like Snacks, Wheat, Grain etc |
|
|
|
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Exports : |
|
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit (30 Days) |
|
|
|
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Purchasing : |
L/C, Cash and Credit (30 Days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
|
|
|
|
No. of Employees : |
25 (Approximately) |
|
|
|
|
Bankers : |
Bank of Maharashtra, Nariman Point Overseas Branch,
A-Wing, Mittal Court, Nariman Point, Mumbai - 400021, Maharashtra, India |
|
|
|
|
Facilities : |
PRE-SHIPMENT
EXPORT CREDIT IN FOREIGN CURRENCY (PCFC) : Rs.150.000 Millions (From Bank
of Maharashtra) |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M N Bhatt Chartered Accountant |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000 |
Equity Shares |
Rs.100/- each |
Rs.0.100
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW COMPANY
Expected Sales (2012-2013): Rs.650.000 Millions
The above information has been parted by Mr. Maheshkumar Ramanlal Patel
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 three years |
No |
|
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 |
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 |
SRI SHAKTI GOURMET SOLUTIONS PRIVATE LIMITED |
|
Name of the company |
U15549MH2012PTC229698 |
|
Address of the registered office or of the principal place of business in India of the company |
402, Falcon Castle, Opposite One Indiabulls Centre, Senapati Bapat Marg, Elphinstone Road, Lower Parel, Mumbai – 400013, Maharashtra, India E-Mail Id : pooja@srivastavandco.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of charge holder |
Bank of Maharashtra, Nariman Point Overseas Branch, A-Wing, Mittal Court, Nariman Point, Mumbai - 400021, Maharashtra, India E-Mail Id : bom1006@mahabank.co.in |
|
Nature of instrument creating charge |
Composite deed of hypothecation for all facilities |
|
Date of instrument Creating the charge |
30.01.2013 |
|
Amount secured by the charge |
Rs.150.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest For PC Base rate + 1.25 up to 180 days and Base rate + 1.50 for 180 days to 270 days. For FOBN Base rate + 1.25 up to 90 days and Base rate + 1.50 for 180 days. Terms of Repayment The Borrower shall on demand pay the whole amount due to the Bank with interest and cost. Margin Margin - Pre-shipment/Post-shipment - 10% in Bank's favour for PC and nil for post shipment credit. LC - 10% in Bank's favour in the form of deposits. Extent and Operation of the charge Security to cover principal amount together with interest, costs, charges and expenses etc. Others Pre-shipment/Post-shipment credit facility - Packing Credit, BP/BD, FOBN - Rs.150.000 Millions. Import Inland LC (Sub Limit) - (Rs.50.000 Millions) |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
First and exclusive charge and security by way of hypothecation charge in favour of the Bank over the Borrower's present and future movable plants, machineries, goods Stocks of Raw Materials, inventories, stocks in process, semi finished and finished goods, stores and spares (Consumable Stores and Spares), stock in trade, goods in process, movables in transit and present and futures tangible and intangible assets, vehicles, goodwill, trademarks, copyrights, patent and all the right title interest and benefit of the borrower in upon or over all contracts and agreements and amounts and right to collect receive and recover the same together with all movables, situated or located at any place and now lying, being, affixed or installed at any place at any time and all outstanding monies, Claims, bills, receivables, Book Debts due or to become due to the Borrower/s at any time or from time to time, and all of the borrower's rights, titles or interest therein. and Hypothecation of stocks for Packing Credit. |
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.54.46 |
|
|
1 |
Rs.83.13 |
|
Euro |
1 |
Rs.70.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
BSN |
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 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
- |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
11 |
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.