|
Report Date : |
16.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
AAR AAR ARTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Hanuman Silk Mills Compound, Opposite Huma-Heena Talkies, Kanjurmarg (West),
Mumbai – 400078, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
17.05.1996 |
|
|
|
|
Com. Reg. No.: |
11-099629 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22120MH1996PTC099629 |
|
|
|
|
IEC No.: |
0396013830 |
|
|
|
|
TIN No.: |
27640002118 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA75RST001 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader in Paper, Ink, Calendars, Books, News-papers,
Journals, Magazines, Periodicals, Pamphlets, Diaries, Advertising Materials
and Printed Covers. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 132000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The company
has moderate business risk. The liquidity position is huge. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow. 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years respectively.
By 2020, emerging Asia will become the world’s largest consuming block,
overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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.
LOCATIONS
|
Registered Office : |
Hanuman Silk Mills Compound, Opposite Huma-Heena Talkies, Kanjurmarg
(West), Mumbai – 400078, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
8/9 Anjani Industrial Estate, Subhash Nagar, Nahur (West) Mumbai –
400078, Maharashtra, India |
DIRECTORS
As on: 28.06.2013
|
Name : |
Mr. Rajesh Rasiklal Shah |
|
Designation : |
Managing Director |
|
Address : |
2301, Vision
Crest, F.P. No. : 746, T.P.S IV, Mahim Division, D.S. Babrekar Marg, Dadar
(West), Mumbai - 400028, Maharashtra, India |
|
Date of Birth/Age : |
22.10.1960 |
|
Date of Appointment : |
17.05.1996 |
|
DIN No. : |
00711692 |
|
|
|
|
Name : |
Mr. Hitesh Rasiklal Shah |
|
Designation : |
Director |
|
Address : |
604/605, 6th Floor,
Kalindi, Neelkanth Valley, 7th Road, Rajawadi, Ghatkopar (East), Mumbai –
400077, Maharashtra, India |
|
Date of Birth/Age : |
08.06.1970 |
|
Date of Appointment : |
17.05.1996 |
|
DIN No. : |
00345198 |
|
|
|
|
Name : |
Mrs. Beena Rajesh Shah |
|
Designation : |
Director |
|
Address : |
2301, Vision
Crest, F.P. No. : 746, T.P.S IV, Mahim Division, D.S. Babrekar Marg, Dadar
(West), Mumbai - 400028, Maharashtra, India |
|
Date of Birth/Age : |
15.05.1961 |
|
Date of Appointment : |
01.01.1998 |
|
DIN No. : |
00711713 |
|
|
|
|
Name : |
Mrs. Nilima Hitesh Shah |
|
Designation : |
Director |
|
Address : |
604/605, 6th
Floor, Kalindi, Neelkanth Valley, 7th Road, Rajawadi, Ghatkopar (East),
Mumbai – 400077, Maharashtra, India |
|
Date of Birth/Age : |
29.08.1971 |
|
Date of Appointment : |
01.01.1998 |
|
DIN No. : |
00345221 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.06.2013
|
Names of Shareholders |
No. of Shares |
|
Rajesh Rasiklal Shah |
14750 |
|
Hitesh Rasiklal Shah |
11350 |
|
Beena Rajesh Shah |
8600 |
|
Nilima Hitesh Shah |
9650 |
|
Rajesh R Shah HUF |
1650 |
|
Hitesh R Shah HUF |
4000 |
|
|
|
|
Total |
50000 |
As on: 28.06.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader in Paper, Ink, Calendars, Books, News-papers,
Journals, Magazines, Periodicals, Pamphlets, Diaries, Advertising Materials
and Printed Covers. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
·
Abhyudaya Co-op. Bank Limited, Administrative
Office, K.K. Tower, Abhyudaya Bank, Lane, Off G.D. Ambekar Marg, Parel
Village, Mumbai – 400012, Maharashtra, India ·
Citi Bank ·
ICICI Bank ·
Vijaya Bank |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jayesh Sanghrajka And Company Chartered Accountants |
|
Address : |
405 – 408, hind Rajasthan Centre, 95, D.S. Phalke Road, Dadar (East),
Mumbai – 400014, Maharashtra, India |
|
Tel. No.: |
91-22-40774600 (16 Lines) / 40774606 |
|
Fax No.: |
91-22-40774606 |
|
E-Mail : |
|
|
PAN No. : |
AADFJ9072C |
CAPITAL STRUCTURE
As on: 28.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000 |
Equity Shares |
Rs.100/- each |
Rs.7.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
NOTE: FINANCIAL DETAILS FILE ATTCHED
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 |
No |
|
9] |
Name of
person contacted |
No |
|
10] |
Designation
of contact person |
No |
|
11] |
Turnover of
firm for last three years |
Yes |
|
12] |
Profitability
for last three 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 |
No |
|
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 |
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 |
OPERATIONS:
The company has achieved a Turnover of Rs 325.266 millions in the
financial year as against 235.701 millions in the previous year. The company has
generated profit of Rs 3.381 millions
INDEX CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10437943 |
10/07/2013 |
11,000,000.00 |
ABHYUDAYA CO -OPERATIVE BANK LTD |
Administrative Office K. K. Tower, Abhyudaya Bank, |
B80081987 |
|
2 |
10374755 |
25/08/2012 |
40,000,000.00 |
ABHYUDAYA CO-OP. BANK LTD. |
Administrative Office K. K. Tower, Abhyudaya Bank, |
B57388183 |
|
3 |
10317840 |
09/10/2011 |
8,300,000.00 |
ABHYUDAYA CO-OP. BANK LTD. |
Administrative Office K. K. Tower, Abhyudaya Bank, |
B25379827 |
|
4 |
10290270 |
01/06/2011 |
9,000,000.00 |
ABHYUDAYA CO-OP. BANK LTD. |
Administrative Office K. K. Tower, Abhyudaya Bank, |
B14294185 |
|
5 |
10290162 |
01/06/2011 |
45,000,000.00 |
ABHYUDAYA CO-OP. BANK LTD. |
Administrative Office K. K. Tower, Abhyudaya Bank, |
B14271159 |
|
6 |
10178283 |
09/09/2009 |
80,000,000.00 |
Abhyudaya Co-op. Bank Limited |
Administrative Office K. K. Tower, Abhyudaya Bank, |
A69954683 |
|
7 |
10101620 |
25/08/2012 * |
40,000,000.00 |
ABHYUDAYA CO-OP. BANK LTD. |
Administrative Office K. K. Tower, Abhyudaya Bank, |
B57390627 |
|
8 |
10067023 |
13/08/2007 |
6,800,000.00 |
ABHYUDAYA CO-OPERATIVE BANK LTD. |
Administrative Office K. K. Tower, Abhyudaya Bank, |
A22652176 |
|
9 |
10120779 |
26/09/2012 * |
85,000,000.00 |
ABHYUDAYA CO-OP. BANK LTD. |
Administrative Office K. K. Tower, Abhyudaya Bank, |
B59401729 |
|
10 |
10122497 |
20/12/2006 |
7,500,000.00 |
ABHYUDAYA CO-OP. BANK LTD. |
K. K. TOWER, ABHYUDAYA BANK LANE, OFF G. D. AMBEKAR MARG, PAREL
VILLAGE, MUMBAI, Maharashtra - 400012, INDIA |
A20073144 |
|
11 |
90159992 |
10/05/2001 * |
3,160,000.00 |
ADHYUDAYA CO-OP BANK LTD |
ADMIMISTRATIVE OFFCE PAREL, MUMBAI, Maharashtra - 400012, INDIA |
- |
|
12 |
90234733 |
10/05/2001 * |
3,160,000.00 |
ABHYUDAYA CO-OP. BANK LTD. |
ADMIMISTRATIVE OFFCE PAREL, MUMBAI, Maharashtra - 400012, INDIA |
- |
|
13 |
90158801 |
29/11/9999 * |
6,000,000.00 |
ADHYUDAYA CO-OP BANK LTD |
ADMIMISTRATIVE OFFCE PAREL, MUMBAI, Maharashtra - 400012, INDIA |
- |
|
14 |
90159624 |
30/03/2001 * |
6,000,000.00 |
ADHYUDAYA CO-OP BANK LTD |
ADMIMISTRATIVE OFFCE PAREL, MUMBAI, Maharashtra - 400012, INDIA |
- |
|
15 |
90234329 |
27/02/2003 * |
6,000,000.00 |
ABHYUDAYA CO-OP. BANK LTD. |
ADMIMISTRATIVE OFFCE PAREL, MUMBAI, Maharashtra - 400012, INDIA |
- |
|
16 |
90159566 |
18/10/1996 |
6,000,000.00 |
ADHYUDAYA CO-OP BANK LTD |
ADMIMISTRATIVE OFFCE PAREL, MUMBAI, Maharashtra - 400012, INDIA |
- |
|
17 |
90234271 |
18/10/1996 |
6,000,000.00 |
ABHYUDAYA CO-OP. BANK LTD. |
ADMIMISTRATIVE OFFCE PAREL, MUMBAI, Maharashtra - 400012, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
·
Plant and Machinery
·
Air Conditioner
·
Furniture and Fixture
·
Office Equipments
·
Computers
·
Vehicles
·
Civil Construction
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.61.52 |
|
|
1 |
Rs.94.99 |
|
Euro |
1 |
Rs.81.63 |
INFORMATION DETAILS
|
Report Prepared
by : |
ANK |
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 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.