MIRA INFORM REPORT
|
Report Date : |
12.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
MARSHALLS ENTERPRISE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
108, Kakad Udyog Bhavan, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.01.2007 |
|
|
|
|
Com. Reg. No.: |
11-167188 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51101MH2007PTC167188 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM33276F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM2370K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Elite Furnishing and Importer of Wallpaper |
|
|
|
|
No. of Employees
: |
200 (Approximately) (In Office + In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 83000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
Trade relations are reported to be fair. Business is active. Payments are reported
to be usually correct and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. Note: Profit and Loss
account of the company for the year 2012 is not available. |
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. Dubey |
|
Designation : |
Import Department |
|
Contact No.: |
91-22-40702121 |
|
Date : |
08.04.2013 |
LOCATIONS
|
Registered Office / Corporate Office : |
108, Kakad Udyog Bhavan, |
|
Tel. No.: |
91-22-40702131 / 40702121 |
|
Fax No.: |
91-22-40702161 |
|
E-Mail : |
|
|
Area : |
2500 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
Gratex House, A-73, MIDC Hairne, |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Baldev Krishan Sharma |
|
Designation : |
Director |
|
Address : |
8/B, |
|
Date of Birth/Age : |
21.04.1947 |
|
Date of Appointment : |
27.01.2007 |
|
PAN No.: |
AAFPS4577F |
|
DIN No.: |
00117161 |
|
|
|
|
Name : |
Mr. Karan Baldev Sharma |
|
Designation : |
Director |
|
Address : |
8/B, |
|
Date of Birth/Age : |
04.07.1979 |
|
Date of Appointment : |
27.01.2007 |
|
DIN No.: |
00117188 |
|
|
|
|
Name : |
Mrs. Promila Baldev Sharma |
|
Designation : |
Director |
|
Address : |
8/B, |
|
Date of Birth/Age : |
02.03.1949 |
|
Date of Appointment : |
27.01.2007 |
|
PAN No.: |
AMMPS3004N |
|
DIN No.: |
00118066 |
|
|
|
|
Name : |
Ms. Mona Pratap Menon |
|
Designation : |
Director |
|
Address : |
103, Rahul Apartment No.2, Baburao Parulekar Marg, Dadar (West),
Mumbai – 400028, |
|
Date of Birth/Age : |
26.04.1975 |
|
Date of Appointment : |
27.01.2007 |
|
PAN No.: |
AECPS3825D |
|
DIN No.: |
00117025 |
KEY EXECUTIVES
|
Name : |
Mr. Dubey |
|
Designation : |
Import Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Baldevkrishan Sharma |
60000 |
|
Karan Baldev Sharma |
10000 |
|
Promila Baldev Sharma |
20000 |
|
Mona Pratap Menon |
10000 |
|
Total |
100000 |
AS ON 22.02.2013
LIST OF ALLOTTEES
|
Names of Allottees |
No. of Shares
Allotted |
|
Baldevkrishan Sharma |
30000 |
|
Karan Baldev Sharma |
5000 |
|
Promila Baldev Sharma |
10000 |
|
Mona Pratap Menon |
5000 |
|
Total |
50000 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Elite Furnishing and Importer of Wallpaper |
|
|
|
|
Imports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash, Credit (30 Days / 60 Days) |
|
|
|
|
Purchasing : |
L/C, Cash, Credit (30 Days / 60 Days) |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||
|
|
|
||||||||||||
|
Customers : |
Wholesalers, Retailers and End Users
|
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
200 (Approximately) (In Office + In Factory) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Tel
No.: 91-22-24453206
|
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B H Patel and Company Chartered Accountants |
|
Address : |
22, Popatwadi, |
|
Tel. No.: |
91-22-25929742 |
|
Fax No.: |
91-22-25919742 |
|
PAN No.: |
AABPD1714H |
CAPITAL STRUCTURE
AFTER 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 Millions |
|
|
|
|
|
AS ON 31.03.2012
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 |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.000 |
0.500 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
19.813 |
8.550 |
0.640 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
20.813 |
9.050 |
0.740 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
13.510 |
15.491 |
0.000 |
|
|
2] Unsecured Loans |
13.080 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
26.590 |
15.491 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
47.403 |
24.541 |
0.740 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
56.076 |
57.055 |
40.167 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
10.467
|
8.526
|
0.000
|
|
|
Sundry Debtors |
0.000
|
0.000
|
0.584
|
|
|
Cash & Bank Balances |
4.568
|
0.407
|
3.117
|
|
|
Other Current Assets |
12.865
|
8.647
|
0.000
|
|
|
Loans & Advances |
24.107
|
4.763
|
0.398
|
|
Total
Current Assets |
52.007
|
22.343
|
4.099 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
4.188
|
10.172
|
13.336 |
|
|
Other Current Liabilities |
52.458
|
44.685
|
30.190
|
|
|
Provisions |
4.034
|
0.000
|
0.000
|
|
Total
Current Liabilities |
60.680
|
54.857
|
43.526 |
|
|
Net Current Assets |
(8.673)
|
(32.514)
|
(39.427)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
47.403 |
24.541 |
0.740 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.28
|
1.71
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.86
|
0.41
|
0.09 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Trade Payables |
|
|
|
|
Micro, Small and Medium Enterprises |
0.000 |
0.000 |
|
|
Others |
4.188 |
10.172 |
|
|
TOTAL |
4.188 |
10.172 |
13.336 |
SUNDRY CREDITORS
(PARTIAL DETAILS)
(Rs.
in Millions)
|
Particulars |
|
31.03.2010 |
|
Arun V. Munj |
|
10.000 |
|
Karthik |
|
0.000 |
|
Nadkarni Uday |
|
0.000 |
|
R P Shah and Company |
|
0.000 |
|
Walls and Floors Enterprises India Private
Limited |
|
0.113 |
|
Devaa Textiles |
|
0.045 |
|
Fabera Furnishing |
|
0.044 |
|
Cachet Pharmaceuticals Private Limited |
|
0.040 |
|
Ashar Jayant |
|
0.023 |
|
Kamdar Tejal |
|
0.024 |
|
Kantilal and Company |
|
0.034 |
|
Jhanvi Agencies |
|
0.024 |
|
DHL Express India Private Limited |
|
0.000 |
|
Garndeco Wallfashion |
|
0.000 |
|
Khroma International |
|
0.000 |
|
Wallpaper World |
|
0.000 |
|
Royal Enterprises |
|
0.000 |
|
R C Perfection |
|
0.000 |
|
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 |
No |
|
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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
Passport No 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 |
DETAILS OF
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
REPAYABLE ON
DEMAND |
|
|
|
From Directors / related parties
|
13.080 |
0.000 |
|
TOTAL |
13.080 |
0.000 |
FORM 8
|
Corporate identity
number of the company |
U51101MH2007PTC167188 |
|
Name of the
company |
MARSHALLS
ENTERPRISE INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
108, Kakad Udyog Bhavan, L J Road, Mahim, Mumbai – 400016,
Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property Any interest in
immovable property |
|
Particular of
charge holder |
Bank of Baroda, Shivaji Park Branch, Sweet Home, L. J. Road, Mahim Mumbai-400016, Maharashtra, India |
|
Nature of
instrument creating charge |
Memorandum of
Entry |
|
Date of
instrument Creating the charge |
08.06.2012 |
|
Amount secured by
the charge |
Rs. 20.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Base Rate + 4%
i.e. 14.25% at present Terms of repayment Tenor 12 months. Margin 40% of the value
of mortgaged property. Extent and operation of the charge Charge of
equitable mortgage by deposit of title deeds of the Immovable Properties as described in column 15 to secure 'Baroda
Traders Loan' of Rs. 20.000 Millions including interest, cost, charges,
expenses and other moneys payable thereon Other Apart from the
security created on Company’s immovable property as hereinabove referred, the
guarantor Mrs. Promila Baldevkrishan Sharma has also redeposited her personal
property to secure the loan |
|
Short particulars
of the property charged (Including location of the property) |
Gala / unit no.
27 admeasuring about carpet area 380 sq. ft. situated at unit no.27, ground
floor, Kakad Udyog Bhavan, L. J. Road, Mahim, Mumbai 400016, situated on C.S.
no.633(part) on final plot no. 233 TPS III, Lady Jamshedji Road, Mahim 400016
within the Local limits of Mumbai Municipal Corporation Greater Mumbai City. |
TRADE REFERENCES:
- Kanchi
Designs Private Limited
- Wallcoverage
Company Limited
- Arihant Traders
FIXED ASSETS
- Furniture and
Fixtures
- Land
- Building
- Plant and
Equipments
- Furniture and
Fixtures
- Vehicles
- Office
Equipment
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.54.53 |
|
|
1 |
Rs.83.60 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
44 |
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.