|
Report Date : |
27.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
AMRIT POLYCHEM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
404, Gurukrupa, 133 Kazi Sayed Street, Masjid, Mumbai-400003, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Date of
Incorporation : |
28.03.2012 |
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|
|
|
Com. Reg. No.: |
11-228844 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 35.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24233MH2012PTC228844 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of Chemicals |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
- |
NB |
New Business |
- |
|
Status : |
New Business |
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|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
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Comments : |
Subject is a new company incorporated as on March 28, 2012 and
establishing itself gradually. Management was non co-operative and denied to disclose any information
to us. However, trade relations are improving. Business is active. Payment
terms are unknown. 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.
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.
INFORMATION DECLINED BY
Management non co-operative [91-22-28389973]
LOCATIONS
|
Registered Office : |
404, Gurukrupa, 133 Kazi Sayed Street, Masjid, Mumbai-400003,
Maharashtra, India |
|
Tel. No.: |
91-22-66312476 / 66312876 / 23435233 |
|
Fax No.: |
91-22-23424347 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Sales Office : |
6, Laxmi Bhuvan, 3rd Golibar Road, T P S III, Santacruz
(East), Mumbai-400055, Maharashtra, India |
|
Tel. No.: |
91-22-28389973 / 26178662 / 26195967 |
|
Fax No.: |
91-22-26160374 |
|
|
|
|
Branch Office : |
Located At ·
Chennai ·
Ahmedabad ·
Daman |
DIRECTORS
|
Name : |
Mr. Mukesh Amritlala Bakhai |
|
Designation : |
Director |
|
Address : |
303, Regal Apartment, Near Khira Nagar, S V Road, Santacruz,
Mumbai-400054, Maharashtra, India |
|
|
|
|
Name : |
Ms. Leena Mukesh Bkhai |
|
Designation : |
Director |
|
Address : |
303, Regal Apartment, Near Khira Nagar, S V Road, Santacruz, Mumbai-400054,
Maharashtra, India |
|
|
|
|
Name : |
Mr. Ambrish Mukesh Bakhai |
|
Designation : |
Director |
|
Address : |
303, Regal Apartment, Near Khira Nagar, S V Road, Santacruz,
Mumbai-400054, Maharashtra, India |
|
|
|
|
Name : |
Mr. Akshar Mukesh Bakhai |
|
Designation : |
Director |
|
Address : |
303, Regal Apartment, Near Khira Nagar, S V Road, Santacruz,
Mumbai-400054, Maharashtra, India |
|
|
|
|
Name : |
Mr. Ramesh Amritalal Bakhai |
|
Designation : |
Director |
|
Address : |
R10 401, Krishna Apartment, St. Andrews R O, Santacruz (West),
Mumbai-400054, Maharashtra, India |
|
|
|
|
Name : |
Ms. Nirmala Amritlal Bakhai |
|
Designation : |
Director |
|
Address : |
303, Regal Apartment, Near Khira Nagar, S V Road, Santacruz, Mumbai-400054,
Maharashtra, India |
|
|
|
|
Name : |
Ms. Hemal Raiklal Parekh |
|
Designation : |
Director |
|
Address : |
B/8, Kesav Bhuvan, Main Dada Road, Gandhi Nagar, Domivli (East),
District Thane, Mumbai-421201, Maharashtra, India |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 14.02.2012
|
Names of Shareholders |
No. of Shares |
|
Mukesh Amritlala Bakhai |
2800000 |
|
Leena Mukesh Bkhai |
525000 |
|
Ambrish Mukesh Bakhai |
82250 |
|
Akshar Mukesh Bakhai |
82250 |
|
Ramesh Amritalal Bakhai |
3500 |
|
Nirmala Amritlal Bakhai |
3500 |
|
Hemal Raiklal Parekh |
3500 |
|
TOTAL
|
3500000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Chemicals |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
·
Indian
Overseas Bank, 111/115, Gulabi House, Kazi Sayed Street, Mandvi,
Mumbai-400003, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Available |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs. 35.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW COMPANY
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 |
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 |
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 |
No |
|
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 |
No |
|
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 |
FORM 8
|
Corporate
identity number of the company |
U24233MH2012PTC228844 |
|
Name of the
company |
AMRIT POLYCHEM
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
404, Gurukrupa, 133 Kazi Sayed Street, Masjid, Mumbai-400003, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
Indian Overseas
Bank, 111/115, Gulabi House, Kazi Sayed Street, Mandvi, Mumbai-400003,
Maharashtra, India |
|
Nature of
instrument creating charge |
Letter of
hypothecation (for securing machineries, vehicles, good, book debts) |
|
Date of instrument
Creating the charge |
19.10.2012 |
|
Amount secured by
the charge |
Rs. 204.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Base Rate Plus 4%
equal to 14.50% Terms of repayment Payment on demand
cash credit against hypothecation of stocks and book debts and good covered
by letter of credit and letter of comfort. Margin Stocks / Goods
25% Book Debts 50% Letter of Credit
10% Letter of Comfort
10% Letter of Guarantee
– Performance 10% Letter of
Guarantee – financial 25% Extent and operation of the charge Security of
stocks of raw material, work in process, finished goods, books debts,
existing and future plant and machineries, goods covered by letter of credit
/ letter of comfort. |
|
Short particulars
of the property charged (Including location of the property) |
Bhiwandi |
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. 64.23 |
|
|
1 |
Rs. 100.00 |
|
Euro |
1 |
Rs. 85.93 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLV |
|
|
|
|
Report Prepared
by : |
DPT |
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.