|
Report Date : |
24.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
FOUR SEASONS
AUTOMOBILES PRIVATE LIMITED (w.e.f. 28.02.2002) |
|
|
|
|
Formerly Known
As : |
FOUR SEASONS CAR AIR-CON PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
24, Jaywant
Industrial Estate, Opposite Film Center, Tardeo Road, Mumbai – 400 034,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
05.05.1995 |
|
|
|
|
Com. Reg. No.: |
11-088094 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.450
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29192MH1995PTC088094 |
|
|
|
|
Legal Form : |
Private Limited Liability
Company |
|
|
|
|
Line of Business
: |
Trader and service provider of Automobiles. |
|
|
|
|
No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (16) |
|
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 : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a company having a moderate track record. The profit and loss statement of the company for the year 2012 is not
available. As per available financials, the financial strength of the company
appears to be weak and vulnerable due to accumulated losses and huge external
borrowings recorded by the company. It has incurred loss from its operations during 2012. However, business is active. Payment terms are slow. The company can be considered for business dealings on a safe and
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.
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 : |
Mr. Lalit Bhanwarlal Jogani |
|
Designation : |
Director |
|
Contact No.: |
91-9820289737 91-22-23514680 |
|
Date : |
23.04.2013 |
LOCATIONS
|
Registered Office : |
24, Jaywant
Industrial Estate, Opposite Film Center, Tardeo Road, Mumbai – 400 034,
Maharashtra, India |
|
Tel. No.: |
91-22-23514680/ 22625588/ 24940444/ 24971680 |
|
Mobile No.: |
91-9820289737 (Mr. Lalit Bhanwarlal Jogani) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Palm Beach Road, Karave Village, Nerul (West), Sea Homes, Plot # 3, Sector
36, Navi Mumbai – 400 706, Maharashtra, India |
DIRECTORS
As on 25.09.2012
|
Name : |
Mr. Bhanwarlal Durgaji Jogani |
|
Designation : |
Director |
|
Address : |
Flat No.1/C, 1st
Floor, Abhilasha, A K. Marg, Mumbai – 400 036, Maharashtra, India |
|
Date of Appointment : |
28.11.2001 |
|
DIN No.: |
00053085 |
|
|
|
|
Name : |
Mr. Lalit Bhanwarlal Jogani |
|
Designation : |
Director |
|
Address : |
61/A, Gold Coin,
Tardeo Road, Mumbai – 400 034, Maharashtra, India |
|
Date of Appointment : |
07.01.2002 |
|
DIN No.: |
01234766 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Bhanwarlal Durgaji Jogani |
|
5000 |
|
Bidamidevi Bhanwarlal Jogani |
|
15000 |
|
Lalit Bhanwarlal Jogani |
|
15000 |
|
Seema Lalit Jogani |
|
10000 |
|
Total |
|
45000 |
As on 25.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and service provider of Automobiles. |
|
|
|
|
Products/ Services : |
·
Performance Tuning ·
Performance Air Filters ·
Tyres ·
Alloy Wheels ·
Body Styling Kits ·
Die Cast Models ·
Giant Cycles ·
Cycle Carriers |
|
|
|
|
Imports : |
|
|
Products : |
·
Automobile Parts |
|
Countries : |
·
UK ·
USA ·
Germany |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
Information declined by the Management |
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|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
·
Syndicate Bank Limited, Mumbai, Maharashtra,
India ·
Axis
Bank Limited ·
The Saraswat
Co-operative Bank Limited ·
Bank of India ·
ICICI Bank
Limited · The Hongkong and Shanghai Banking Corporation Limited |
|||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institutions : |
· Reliance Capital Limited · Magma Fincorp Limited · Tata Capital Financial Services Limited |
|
|
|
|
Auditors : |
|
|
Name : |
Vijay Jogani and Company Chartered Accountants |
|
Address : |
8/10, Khatau Building, Office No.15, A.D. Modi Marg, Off Mumbai
Samachar Marg, Fort, Mumbai – 400 023, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABPJ0378F |
CAPITAL STRUCTURE
As on 25.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
45000 |
Equity Shares |
Rs.10/- each |
Rs.0.450 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 |
0.450 |
0.450 |
0.450 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.025 |
|
|
4] (Accumulated Losses) |
(2.145) |
(1.440) |
0.000 |
|
|
NETWORTH |
(1.695) |
(0.990) |
0.475 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
10.082 |
0.291 |
0.013 |
|
|
2] Unsecured Loans |
11.775 |
8.707 |
10.404 |
|
|
TOTAL BORROWING |
21.857 |
8.998 |
10.417 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
20.162 |
8.008 |
10.892 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
17.743 |
3.585 |
2.745 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2.928
|
3.044 |
5.155 |
|
|
Sundry Debtors |
5.697
|
3.208 |
2.500 |
|
|
Cash & Bank Balances |
0.799
|
1.551 |
1.173 |
|
|
Other Current Assets |
0.877
|
0.520 |
0.000 |
|
|
Loans & Advances |
2.399
|
2.754 |
3.539 |
|
Total
Current Assets |
12.700
|
11.077 |
12.367 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
7.315
|
5.435 |
6.385 |
|
|
Other Current Liabilities |
2.424
|
1.132 |
0.944 |
|
|
Provisions |
0.542
|
0.087 |
0.060 |
|
Total
Current Liabilities |
10.281
|
6.654 |
7.389 |
|
|
Net Current Assets |
2.419
|
4.423 |
4.978 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
3.169 |
|
|
|
|
|
|
|
|
TOTAL |
20.162 |
8.008 |
10.892 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
NA |
23.821 |
|
|
|
Other Income |
NA |
NA |
5.088 |
|
|
|
TOTAL |
NA |
NA |
28.909 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) FOR THE YEAR |
NA |
1.563 |
(0.787) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
(12.89)
|
(9.09) |
21.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24
|
1.66 |
1.67 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
- Others |
7.315
|
5.435 |
6.385 |
|
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 |
No |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for one year |
Yes |
|
12) Profitability for two years |
Yes |
|
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 |
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)
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
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 |
|
Unsecured Loans |
31.03.2012 (Rs. in Millions) |
31.03.2011 (Rs. in Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Others |
|
|
|
Bhanwarlal Durgaji Jogani |
4.110 |
3.139 |
|
B.D. Jogani and
Company |
3.435 |
3.470 |
|
D.K. Rao |
0.174 |
0.174 |
|
Dinesh Jogani |
0.100 |
0.100 |
|
Lalit Jogani |
2.490 |
0.587 |
|
Rishabh D. Jogani |
0.175 |
0.175 |
|
Seema L. Jogani |
0.391 |
0.162 |
|
Suresh Jogani |
0.900 |
0.900 |
|
Total |
11.775 |
8.707 |
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computers
·
Air Conditioner
·
Container
·
Electrical Instruments
·
Telephone Equipment
Intangible Assets
·
Computer Software
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.54.30 |
|
|
1 |
Rs.82.88 |
|
Euro |
1 |
Rs.70.80 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
16 |
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.