MIRA INFORM REPORT
|
Report Date : |
05.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
AJY TECH INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Shop No. 323, Shree Krishna Market, Near Kinnary Cinema, Ring Road,
Surat-395002, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
08.06.2011 |
|
|
|
|
Com. Reg. No.: |
04-065788 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.710 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17120GJ2011PTC065788 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
To carry on Business purchase, sale, import, Export, manufacture, trading or otherwise deal in technology of developing textile machines, textile accessories, embroidery, smok and embossing machines, development of designs for fashion fabrics, art work technology, printing technology, spinning, weaving, dyeing, finishing, processing, spinning, ginning, embroidering, sizing, texturising. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 30000 |
|
|
|
|
Status : |
Yet to commence business activity |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Eventhough the company was incorporated during June 6, 2011, it has
not yet commenced its business activity, as per the dated 31st
March, 2012. The networth of the company appears to be fair. Payment terms are
unknown. The company can be considered for business dealings with some 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 |
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 : |
Shop No. 323, Shree Krishna Market, Near Kinnary Cinema, Ring Road,
Surat-395002, Gujarat, India |
|
Tel. No. : |
Not Available |
|
Fax No. : |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot No. 6A, 6B, 7A, 7B, Block No.167, Village Jolva, Taluka Palsana, Surat-395002,
Gujarat, India |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Rajendra Kumar Gaurishankar Mundhra |
|
Designation : |
Director |
|
Address : |
18/20, Old Hanuman, 1st X
Lane, 1st Floor, Mumbai-400002, Maharashtra, India |
|
Date of Birth/Age : |
16.12.1976 |
|
Date of Appointment : |
08.06.2011 |
|
DIN No. : |
03528622 |
|
|
|
|
Name : |
Mr. Nandkishor Kamalkishore Mundhra |
|
Designation : |
Director |
|
Address : |
At-C-109 Venkatesh Plaza CNS Limited, Balaji Nagar Station Road Bhy, Thane, Mumbai-400002, Maharashtra, India |
|
Date of Birth/Age : |
16.04.1983 |
|
Date of Appointment : |
08.06.2011 |
|
DIN No. : |
03529913 |
|
|
|
|
Name : |
Mr. Manojkumar Jhoomarmal Mundhar |
|
Designation : |
Director |
|
Address : |
Bhanwarlal, 18/20, Old Hanuman Lane, 1st
X Lane, Mumbai-400002, Maharashtra, India |
|
Date of Birth/Age : |
01.09.1967 |
|
Date of Appointment : |
08.06.2011 |
|
DIN No. : |
03528621 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Rajendra Kumar Mundhra |
|
40000 |
|
Manojkumar Mundhra |
|
40000 |
|
Nandkishor Mundhra |
|
40000 |
|
Kamalkishore Mundhra |
|
5000 |
|
Shantidevi Mundhra |
|
5000 |
|
Sohanidevi Mundhra |
|
5000 |
|
Shantidevi Mundhra |
|
5000 |
|
Sarswatidevi Mundhra |
|
1000 |
|
Sunitadevi Mundhra |
|
1000 |
|
Veenadevi Mundhra |
|
1000 |
|
Manjudevi Mundhra |
|
1000 |
|
Krishnadevi Mundhra |
|
1000 |
|
Sarojdevi Mundhra |
|
1000 |
|
Jugalkishore Mundhra |
|
5000 |
|
Ramniwas Mundhra |
|
5000 |
|
Overall Vincom Private Limited, India |
|
5000 |
|
K.R. Overseas Private Limited, India |
|
2500 |
|
Jatadhari Marketing Private Limited, India |
|
2500 |
|
Megacity Food Suppliers Private Limited, India |
|
2500 |
|
Quest Financial Servics Limited, India |
|
2500 |
|
Total |
|
171000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
5.85 |
|
Directors or relatives of Directors |
94.15 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To carry on Business purchase, sale, import, Export, manufacture, trading or otherwise deal in technology of developing textile machines, textile accessories, embroidery, smok and embossing machines, development of designs for fashion fabrics, art work technology, printing technology, spinning, weaving, dyeing, finishing, processing, spinning, ginning, embroidering, sizing, texturising. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Tamilnad Mercantile Bank Limited, Rock Ford Business Centre, F.P. No. 167, Suman Desai Wadi, Udhna Darwaja, Ring Road, Surat - 395002, Gujarat, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. N. Kothari and Associates Chartered Accountants |
|
Address : |
A-409, India Textile Market, Ring Road, Surat-395002, Gujarat, India |
|
PAN No. : |
ACAPK1987G |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs. 2.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
171000 |
Equity Shares |
Rs.10/- each |
Rs. 1.710 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
1.710 |
|
(b) Reserves & Surplus |
|
|
5.822 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
|
7.532 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term
provisions |
|
|
0.000 |
|
Total Non-current
Liabilities (3) |
|
|
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
0.000 |
|
(b) Trade
payables |
|
|
0.000 |
|
(c) Other
current liabilities |
|
|
0.008 |
|
(d) Short-term
provisions |
|
|
0.000 |
|
Total Current
Liabilities (4) |
|
|
0.008 |
|
|
|
|
|
|
TOTAL |
|
|
7.540 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
|
3.868 |
|
(ii)
Intangible Assets |
|
|
0.000 |
|
(iii)
Capital work-in-progress |
|
|
0.000 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
0.000 |
|
(e) Other
Non-current assets |
|
|
0.000 |
|
Total Non-Current
Assets |
|
|
3.868 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
0.000 |
|
(c) Trade
receivables |
|
|
0.000 |
|
(d) Cash
and cash equivalents |
|
|
0.209 |
|
(e)
Short-term loans and advances |
|
|
3.374 |
|
(f) Other
current assets |
|
|
0.089 |
|
Total
Current Assets |
|
|
3.672 |
|
|
|
|
|
|
TOTAL |
|
|
7.540 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
|
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
|
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
|
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
|
(0.029) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
(0.17) |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2012 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
459.00 |
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
one year |
No |
|
12] |
Profitability for last
one year |
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 |
FINANCIAL RESULTS:
During the year, the Company not started business activity. Company has acquired land for its project and planning is in advance stages. The company has suffered loss of Rs. 0.029 million due to fixed overheads. The directors are taking appropriate steps to implement the project and start commercial production.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U17120GJ2011PTC065788 |
|
Name of the
company |
AJY TECH INDIA
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Shop No. 323, Shree Krishna Market, Near Kinnary Cinema, Ring Road,
Surat-395002, Gujarat, India E-mail: mcafiling@yahoo.co.in |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Tamilnad Mercantile Bank Limited, Rock Ford Business Centre, F.P. No. 167, Suman Desai Wadi, Udhna Darwaja, Ring Road, Surat - 395002, Gujarat, India E-mail: surat_ringroad@tnmbonline.com |
|
Nature of
instrument creating charge |
Articles of
Agreement |
|
Date of instrument
Creating the charge |
06.12.2012 |
|
Amount secured by
the charge |
Rs. 10.400
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest shall be
at the rate of 3.25% above the TMB Base rate with a minimum of 14.25% p.a. or
at such other rates, with monthly rests. Terms of Repayment Repayable at 84
equal monthly installments of cash of Rs. 123810/-. First installment is due on
06.01.2014 and last on 06.12.2020 as per Schedule - B of Article of Agreement Margin 25% Extent and Operation of the charge The Charge will
operate as first and exclusive charge and shall be continuing security
towards the credit facilities of Rs. 104.00 Lacs together with interest,
penal interest or any other charges thereof. Others Term Loan of Rs. 104.00 Lacs granted for the purpose of construction of Factory Building. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Factory Building
to be constructed at No. 6/A, 6/B, 7/A and 7/B of Umiya Ind Estate, bearing
R.S. NO. 123, Block No. 167,Surat Bardoli Road, Moje Jolva, Tal: Palsana, Sub
District: Palsana, District: Surat |
FIXED ASSETS
·
Land
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 records 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.60.09 |
|
|
1 |
Rs.91.58 |
|
Euro |
1 |
Rs.78.08 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
|
28 |
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.