|
Report Date : |
18.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHREE JAGANNATH LIME AND CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
190, G. T. Road (North), S. L. Apartment, Flat No.5-D, 5th
Floor, Salkia – 711106, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
26.07.2011 |
|
|
|
|
Com. Reg. No.: |
21-165414 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.210 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999WB2011PTC165414 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Quick Lime, Burn Lime, Hydrated Lime and Other
Products. |
|
|
|
|
No. of Employees
: |
10 (Approximately) |
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 22000 |
|
|
|
|
Status : |
Recently commenced its commercial activity. |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the company was incorporated as on July 26, 2011, it has
recently commenced its commercial activity. Mr. Modi, the director provided complete information and confirmed that
the company has started its commercial activity as on July 10, 2013. The networth of the company appears to be decent. Trade relations are
improving. 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) |
|
|
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.
INFORMATION PARTED BY
|
Name : |
Mr. S. S. Modi |
|
Designation : |
Director |
|
Contact No.: |
91-9413033939 |
|
Date : |
09.07.2013 |
LOCATIONS
|
Registered Office : |
190, G. T. Road (North), S. L. Apartment, Flat No.5-D, 5th
Floor, Salkia – 711106, West Bengal, India |
|
Tel. No.: |
91-1585-262117 |
|
Mobile No.: |
91-9413033939 (Mr. S. S. Modi) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Village-Tadawas, Tehsil-Shivsar, Nagaur – 341025 Rajasthan, India |
|
Tel. No.: |
91-1585-262117 (R) |
DIRECTORS
(AS ON 10.10.2012)
|
Name : |
Mr. Jairam Agrawalla |
|
Designation : |
Director |
|
Address : |
Laxmi Niwas, R C Pur Bazar, Jatni, Khurda – 752052 Orissa, India |
|
Date of Birth/Age : |
15.11.1956 |
|
Date of Appointment : |
26.07.2011 |
|
PAN No.: |
AAOPA5369A |
|
DIN No.: |
00660286 |
|
|
|
|
Name : |
Mrs. Rupa Narayan Agarwalla |
|
Designation : |
Director |
|
Address : |
AR/P.O. R C Pur Bazar, Jatni, Khurda – 752052 Orissa, India |
|
Date of Birth/Age : |
06.06.1966 |
|
Date of Appointment : |
26.07.2011 |
|
PAN No.: |
AAOPA5368B |
|
DIN No.: |
00661395 |
|
|
|
|
Name : |
Mr. Shyam Sundar Modi |
|
Designation : |
Director |
|
Address : |
190, G T Road (North), Salkia, Howrah – 711106, West Bengal, India |
|
Date of Birth/Age : |
20.01.1954 |
|
Date of Appointment : |
26.07.2011 |
|
Pan No.: |
AEVPM4538C |
|
DIN No.: |
03305239 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 10.10.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Rupa Narayan Agarwalla |
|
8000 |
|
Shyam Sundar Modi |
|
5000 |
|
Jairam Agrawalla |
|
8000 |
|
|
|
|
|
Total |
|
21000 |
(AS ON 10.10.2012)
|
Names of Allottess |
|
No. of Shares
Allotted |
|
|
|
|
|
Jairam Agrawalla |
|
385000 |
|
Rupa Narayan Agarwalla |
|
235000 |
|
Shyam Sundar Modi |
|
153000 |
|
Gaurav Modi |
|
150000 |
|
Sunmart Exim Private Limited, India |
|
20000 |
|
|
|
|
|
Total |
|
943000 |
(AS ON 31.12.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Quick Lime, Burn Lime, Hydrated Lime and Other
Products. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
|
|
|
|
No. of Employees : |
10 (Approximately) |
|
|
|
|
Bankers : |
· Axis Bank Archbiships House, Satya nagar, Bhubaneswar – 751007, Orissa, India · UCO Bank Khinwsar – 341025, Rajasthan, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Adak and Associates Chartered Accountants |
|
Address : |
15, Gangadhar Babu Lane, Kolkata – 700012, West Bengal, India |
|
PAN No.: |
AFHPA1423K |
CAPITAL STRUCTURE
(AS ON 10.10.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
964000 |
Equity Shares |
Rs.10/- each |
Rs.9.640
Millions |
|
|
|
|
|
(AS ON 31.03.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
210000 |
Equity Shares |
Rs.10/- each |
Rs.0.210
Million |
|
|
|
|
|
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 |
|
|
0.210 |
|
(b) Reserves & Surplus |
|
|
0.000 |
|
(c) Money received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
|
5.204 |
|
Total Shareholders’
Funds (1)+(2) |
|
|
5.414 |
|
|
|
|
|
|
(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 |
|
|
3.300 |
|
(b)
Trade payables |
|
|
0.000 |
|
(c)
Other current liabilities |
|
|
0.008 |
|
(d) Short-term
provisions |
|
|
0.000 |
|
Total Current
Liabilities (4) |
|
|
3.308 |
|
|
|
|
|
|
TOTAL |
|
|
8.722 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible
assets |
|
|
1.126 |
|
(ii)
Intangible Assets |
|
|
0.000 |
|
(iii)
Capital work-in-progress |
|
|
0.896 |
|
(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 |
|
|
0.159 |
|
(e) Other
Non-current assets |
|
|
0.000 |
|
Total Non-Current
Assets |
|
|
2.181 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
0.000 |
|
(c)
Trade receivables |
|
|
0.000 |
|
(d) Cash
and cash equivalents |
|
|
3.533 |
|
(e)
Short-term loans and advances |
|
|
2.550 |
|
(f)
Other current assets |
|
|
0.458 |
|
Total
Current Assets |
|
|
6.541 |
|
|
|
|
|
|
TOTAL |
|
|
8.722 |
PRE-OPERATIVE
EXPENSES
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Travelling and Conveyance |
|
|
0.042 |
|
|
|
Telephone Expenses |
|
|
0.015 |
|
|
|
Vehicles Maintenance Charges |
|
|
0.003 |
|
|
|
Salary to Employees |
|
|
0.091 |
|
|
|
Road making Expenses |
|
|
0.011 |
|
|
|
Pollution Fees |
|
|
0.032 |
|
|
|
Professional Fees |
|
|
0.006 |
|
|
|
General Expenses |
|
|
0.013 |
|
|
|
Office Expenses |
|
|
0.003 |
|
|
|
Audit Fees |
|
|
0.007 |
|
|
|
TOTAL |
|
|
0.223 |
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2012 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
0.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.98 |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
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 |
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 |
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 |
UNSECURED LOANS
|
Particulars |
31.03.2012 (Rs. In Millions) |
|
|
|
|
Sunmari Exim Private Limited |
3.300 |
|
|
|
|
Total |
3.300 |
FINANCIAL RESULTS
Commissioning of plant is in progress, hence
no business commenced during the year. Therefore no Profit and Account was
prepared for the year and all expenses relating to this financial year were
capitalized under the head pre-operative account.
FORM 8
|
This form is for |
Creation of
charge Modification of
charge |
|
Charge
identification number of the modified |
|
|
Corporate
identity number of the company |
U74999WB2011PTC165414 |
|
Name of the
company |
SHREE JAGANNATH
LIME & CHEMICALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
190, G. T. Road
(North), S. L. Apartment, Flat No-5D, 5th Floor, Salkia – 711106, West
Bengal, India |
|
Type of charge |
Immovable property Book Debts Movable Property Other: Stocks |
|
Particular of
charge holder |
Axis Bank Limited Archbiships
House, Satya Nagar, Bhubaneswar – 751007, Orissa, India |
|
Nature of
description of the instrument creating or modifying the charge |
1) Axis Bank
sanctioned Letter No. AXIB/SME-MEG/BBSR/375/2012-13 dated 28.09.2012. 2) Axis Bank
Letter No. AXIB/SME-MEG/BBSR/378,2012-13 Datged 03.10.2012. 3) Board
Resolution Dated 03.10.2012. 4) Composite
Hypothecation Agreement (Current Assets, Movable, Plant and Machinery) Dated
03.10.2012. |
|
Date of
instrument Creating the charge |
03/10/2012 |
|
Amount secured by
the charge |
Rs.58.600
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest CC: BASE
Rate+2.50% i.e. presently at 12.50% per annum payable at monthly rest. TL: BASE Rate +
2.75% i.e. 12.75% per annum presently. Terms of
Repayment CC: On Demand.
Tenor: 12 months from the date of sanction. TL: 22 quarterly
installments in following manner: 4 quarterly installments starting from
30.06.2013 to 31.03.2014: Rs.0.800 Millions each. 4 Quarterly installments
starting from 30.06.2014 to 31.03.2015: Rs.1.300 Millions each, 13 quarterly
installments starting from 30.06.2015 to 31.03.2018: Rs.1.900 Millions each,
Last quarterly installment on 30.09.2018: Rs.1.500 Millions. Tenor: 6 years,
One month including moratorium. Margin CC: DP will be
calculated as per margin. Stock, finished goods and work in progress: 25%.
Book debts (upto 60 days): 30%. TL: D/E Ratio of
project - 1.21: 1. Margin 45.19%. Extent and Operation
of the charge Full Others Bank has
sanctioned cc of Rs.24.000 Millions for working capital and Rs.34.600
Millions for part finance the project set up at Tadawas, Nagaur, Rajasthan at
an estimated cost of Rs.63.128 Millions. Project implementation. Other terms and
conditions as per sanctioned letter. |
|
Short particulars
of the property charged |
PRIMARY: Cash Credit: exclusive
hypothecation charge on stocks, book debts and other current assets of the
company both existing and future. Term Loan: Equitable
mortgage of factory land (Non-Agricultural and building thereon located at
Khasra No.426,427 and 422/624, Mouza-Tadawas, Tehsil-Khimsar, District
Nagaur, Rajasthan having area of 69768 sq.mts. (approx.) Owned by Maa
Uttarayani Roller Mills Private Limited (Group Company of m/s Shree Jagannath
Lime abd Chemicals Private Limited). Exclusive hypothecation charge on
existing and future movable fixed assets of the company. Collateral: Cash Credit: Extension of charge on primary security against
term loan facility. Term Loan: extension of charge on primary security
against cash credit facility. |
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.59.36 |
|
|
1 |
Rs.89.69 |
|
Euro |
1 |
Rs.77.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
NO |
|
--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 |
|
- |
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.