|
Report Date : |
15.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
GLAIR INFRASTRUCTURE LIMITED |
|
|
|
|
Registered
Office : |
9/123, Subhash Gali, Vishwas Nagar, Shahdara, Delhi – 110032 |
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Country : |
India |
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|
Date of
Incorporation : |
08.02.2011 |
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Com. Reg. No.: |
213528 |
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Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U45400DL2011PLC213528 |
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|
|
Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stok Exchange. |
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|
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Line of Business
: |
The subject engaged in Civil and Road Construction and Manufacturing of Pre Engineered Buildings, Pre Fabricated Labour Hutment, Pre Fabricated Structures, Porta Cabins, Bunk Houses, Color Coated Galvanized Sheets, PUF, PUF Pipe Section, EPS and Rockwool Sandwich Panels and Puf Blocks, etc. |
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|
|
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No. of Employees
: |
200 (Approximately) (In Office + In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company and establishing itself gradually.
The management has not filed its financials with the government department
since its incorporation. Ms. Geeta from the Export Department has provided general information
but denied to disclose any financial details to us. However, business is
active. Payment terms are unknown. The company can be considered for business dealings with great
caution. |
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 (GENERAL DETAILS)
|
Name : |
Ms. Geeta |
|
Designation : |
Export Department |
|
Contact No.: |
91-9311004111 |
|
Date : |
06.04.2013 |
LOCATIONS
|
Registered Office : |
9/123, Subhash Gali, Vishwas Nagar, Shahdara, Delhi –
110032, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9311004111 (Ms. Geeta) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
|
|
|
|
|
|
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Corporate Office : |
UM- CSA -109, Ist Floor, Ansal Plaza Mall Vaishali,
Ghaziabad – 201010, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4248637 |
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E-Mail : |
|
|
|
|
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Factory : |
Khasra No.402, Village Kandola Kalan, Tehsil Phillaur, District Jalandhar, Punjab |
DIRECTORS
|
Name : |
Mr. Rajiv Kapoor |
|
Designation : |
Director |
|
Address : |
A-211, Brij Bihar-4, Ghaziabad - 201011, Uttar Pradesh, India |
|
Date of Birth/Age : |
19.10.1971 |
|
Date of Appointment : |
08.02.2011 |
|
DIN No.: |
00893143 |
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|
|
|
Name : |
Mr. Vipin Kapoor |
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Designation : |
Director |
|
Address : |
A-211, Brij Bihar-4, Ghaziabad - 201011, Uttar Pradesh, India |
|
Date of Birth/Age : |
09.04.1977 |
|
Date of Appointment : |
08.02.2011 |
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DIN No.: |
00893151 |
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|
|
|
Name : |
Mrs. Archana Kapoor |
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Designation : |
Director |
|
Address : |
A-211, Brij Bihar-4, Ghaziabad - 201011, Uttar Pradesh, India |
|
Date of Birth/Age : |
17.12.1972 |
|
Date of Appointment : |
08.02.2011 |
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DIN No.: |
03147338 |
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|
|
|
Name : |
Mrs. Vandana Kapoor |
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Designation : |
Director |
|
Address : |
A-211, Brij Bihar-4, Ghaziabad - 201011, Uttar Pradesh, India |
|
Date of Birth/Age : |
05.09.1979 |
|
Date of Appointment : |
08.02.2011 |
|
DIN No.: |
03147605 |
KEY EXECUTIVES
|
Name : |
Ms. Geeta |
|
Designation : |
Export Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 19.01.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Rajiv Kapoor |
|
12495 |
|
Vipin Kapoor |
|
12495 |
|
Archana Kapoor |
|
12495 |
|
Vandana Kapoor |
|
12495 |
|
Anshul Sharma |
|
10 |
|
Arun Kumar Jha |
|
5 |
|
Sudesh Kumar |
|
5 |
|
Total
|
|
50000 |
BUSINESS DETAILS
|
Line of Business : |
The subject engaged in Civil and Road Construction and
Manufacturing of Pre Engineered Buildings, Pre Fabricated Labour Hutment, Pre
Fabricated Structures, Porta Cabins, Bunk Houses, Color Coated Galvanized
Sheets, PUF, PUF Pipe Section, EPS and Rockwool Sandwich Panels and Puf
Blocks, etc. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
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|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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|
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No. of Employees : |
200 (Approximately) (In Office + In Factory) |
|
|
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Bankers : |
Corporation Bank, Ghaziabad, Uttar Pradesh, India |
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|
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Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
SREI Equipment Finance Private Limited, 'Vishwakarma',
86C, Topsia Road, Kolkata - 700046, West Bengal, India |
|
|
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Auditors : |
|
|
Name : |
P. S. Gupta and Associates Chartered Accountants |
|
Address : |
Ghaziabad, Uttar Pradesh, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500
Million |
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|
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|
|
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 |
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 |
No |
|
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) |
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 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U45400DL2011PLC213528 |
|
Name of the company |
GLAIR INFRASTRUCTURE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
9/123, Subhash Gali, Vishwas Nagar, Shahdara, Delhi – 110032, India E-mail id : gupta_ps@yahoo.co.in |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of charge holder |
SREI Equipment Finance Private Limited, 'Vishwakarma', 86C, Topsia Road, Kolkata - 700046, West Bengal, India E-mail Id : sanjay_chaurasia@srei.com |
|
Nature of instrument creating charge |
Deed of Hypothecation (LCB655). |
|
Date of instrument Creating the charge |
22.12.2012 |
|
Amount secured by the charge |
Rs.1.600 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 9.72% per annum. Terms of Repayment Amount repayable in 35 monthly installments. Installment no. 1 of Rs.0.005 Million and Installments no. 2 to 35 of Rs.0.054 Million each. Margin Rs.0.403 Million Extent and Operation of the charge As per Deed of Hypothecation. |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
1 no. JCB 3DX Backhoe Loader.(Within India) |
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.54.44 |
|
|
1 |
Rs.83.78 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
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 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.