|
Report Date : |
08.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
VIRAAT TEX FAB PRIVATE LIMITED |
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Registered
Office : |
At Post Khede, Mukkam - Sutrepada, Taluka Dhule – 424 302, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
14.06.2005 |
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Com. Reg. No.: |
11-153968 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U17120MH2005PTC153968 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Textile and Textile Articles. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
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 : |
Yet to commence business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Though the company incorporated in the year 2005, it is yet to commence
with its business activity. As confirmed by Mr. Vijay (Export Manager) the
company will commence it’s commercial operation by the ending of January
2013. Payments are unknown. The company can be considered for business dealings on a 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
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.
LOCATIONS
|
Registered Office/ Factory : |
At Post Khede, Mukkam - Sutrepada, Taluka Dhule – 424 302, |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
As on 30.08.2012
|
Name : |
Mrs. Ruchi Vinay Patil |
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Designation : |
Director |
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Address : |
302, |
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Date of Birth/Age : |
16.08.1971 |
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Date of Appointment : |
29.06.2007 |
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DIN No.: |
00522834 |
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Name : |
Mr. Jagdishchandra Dattatray Bhosle |
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Designation : |
Additional Director |
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Address : |
8/1, Kamgar Nagar No.1, New |
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Date of Birth/Age : |
05.07.1978 |
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Date of Appointment : |
01.11.2011 |
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DIN No.: |
00534399 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Suresh Balkrishna Shelar |
|
5000 |
|
Amit Bhagwant Puranik |
|
5000 |
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Ruchi Vinay Patil |
|
120000 |
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Jagdishchandra Dattatray Bhosle |
|
120000 |
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Total
|
|
250000 |
As on 30.08.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
96.00 |
|
Other
top fifty shareholders |
|
4.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Textile and Textile Articles. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
v
Axis Bank Limited, Andheri Branch, Royal Accord
IV, Lokhandwala Complex, Andheri (West), Mumbai – 400 053, Maharashtra, India
v
State Bank of India, SME Branch, Shivsagar
Estate, Dr. Annie Besant Road, Worli (South), Mumbai – 400 018, Maharashtra,
India |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
N. Ambawat and Associates Chartered Accountants |
|
Address : |
132-C, Bhagatwadi, Bhuleshwar, Office No.30, 2nd Floor,
Mumbai - 400 002, |
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Tel. No.: |
91-22-65791224/ 66154195 |
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Mobile No.: |
91-9324725156/ 9323450396 |
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Income-tax
PAN of auditor or auditor's firm : |
AABPA9113F |
CAPITAL STRUCTURE
As on 30.08.2012
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 |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
|
|
|
|
Reconciliation of
the number of equity shares and share capital:
|
Particulars |
Nos. |
Amount (Rs. in
millions) |
|
Issued, subscribed & fully paid up equity shares: |
|
|
|
Outstanding at beginning of the year |
10000 |
0.100 |
|
Issued during the year |
-- |
-- |
|
Outstanding at the end of the year |
10000 |
0.100 |
Shareholders holding
more than 5% of equity shares as at the end of the year:
|
Particulars |
Nos. |
% |
|
Suresh Balkrishna Shelar |
5000 |
50.00% |
|
Amit Bhagwat Puranik |
5000 |
50.00% |
Terms/rights
attached to equity shares:
The Company has only
one class of share capital, i.e. equity shares having face value of Rs.10/- per
share. Each holder of equity share is entitled to one vote per share.
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 |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.206 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
0.100 |
0.306 |
0.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.365 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.365 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
0.465 |
0.306 |
0.100 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
0.091 |
0.076 |
0.076 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000
|
|
|
Sundry Debtors |
0.000
|
0.000
|
0.000
|
|
|
Cash & Bank Balances |
0.121
|
0.114
|
0.054
|
|
|
Other Current Assets |
0.139
|
0.000
|
0.000
|
|
|
Loans, Advances & Deposits |
0.123
|
0.000
|
0.000
|
|
Total
Current Assets |
0.383
|
0.114
|
0.054
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000
|
0.131
|
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000
|
|
|
Provisions |
0.009
|
0.008
|
0.008
|
|
Total
Current Liabilities |
0.009
|
0.008
|
0.139
|
|
|
Net Current Assets |
0.374
|
0.106
|
(0.085)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.124 |
0.109 |
|
|
|
|
|
|
|
|
TOTAL |
0.465 |
0.306 |
0.100 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.00 |
0.00 |
0.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.74 |
0.03 |
1.39
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
42.56 |
14.25 |
0.39
|
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Note:
The registered office of the company has been shifted from
H-43, Dr. Babasaheb Ambedkar Nagar, Parel Village, Mumbai – 400 012, Maharashtra
to the present address w.e.f. 01.12.2008.
BUSINESS ACTIVITY:
The company has
not carried on any commercial activities during the year. The management is
hopeful to commence commercial activities very soon and waiting for future
opportunities.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U17120MH2005PTC153968 |
|
Name of the
company |
VIRAAT TEX FAB PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
At Post Khede, Mukkam - Sutrepada, Taluka Dhule – 424 302, E-Mail: cs@samruddha.net |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property (not
being pledge) |
|
Particular of
charge holder |
State Bank of E-Mail: kamalax_saraf@hotmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement of
Loan-cum-Hypothecation (SME-2) |
|
Date of
instrument Creating the charge |
10.05.2012 |
|
Amount secured by
the charge |
Rs.7.500 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Term Loan: 3.25%
Above base rate +1.00% (term premium) which is presently 10.00% p.a. rising
or falling there with, on daily products with monthly rests, present effect
rate 14.25% p.a. Margin: Term Loan/DPG:
25% Extent and
Operation of the charge: Term Loan:
Rs.7.500 millions |
|
Short particulars
of the property charged |
Hypothecation of looms,
compressor and other movable assets acquired out of Bank Finance. |
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.54.97 |
|
|
1 |
Rs.88.10 |
|
Euro |
1 |
Rs.71.67 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
- |
|
--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 |
|
TOTAL |
|
11 |
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.