MIRA INFORM REPORT
|
Report Date : |
08.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
GEE ELEVATORS PRIVATE LIMITED |
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Registered
Office : |
77/4 Bose Para Kamdaharigaria, Kolkata – 700084, West Bengal |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
26.09.2003 |
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Com. Reg. No.: |
21-097038 |
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Capital
Investment / Paid-up Capital : |
Rs. 1.000 Million |
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CIN No.: [Company Identification
No.] |
U29150WB2003PTC097038 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Elevators. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 33000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The company has recorded modest scale of business operation. There
appears dip in its profitability during 2012. The profit margin seems to be low. However, trade relations are reported to be fair. Business is active.
Payments are slow but correct. The company can be considered for business dealings with some caution.
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 : |
77/4 Bose Para Kamdaharigaria, Kolkata – 700084, West Bengal, India |
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Tel. No.: |
91-33-24107568 |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory: |
890, N.S Road, Narendrapur, Kolkata - 700103, West Bengal, India |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Babulal Hazra |
|
Designation : |
Director |
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Address : |
77/4, Solar Factory, Compound, Kamdhari, Kolkata – 700084, West
Bengal, India |
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Date of Birth/Age : |
05.07.1952 |
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Date of Appointment : |
26.09.2003 |
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DIN No.: |
02053824 |
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Name : |
Bulbul Hazra |
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Designation : |
Director |
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Address : |
77/4, Solar Factory, Compound, Kamdhari, Kolkata – 700084, West
Bengal, India |
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Date of Birth/Age : |
12.03.1955 |
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Date of Appointment : |
26.09.2003 |
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DIN No.: |
02053825 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
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Names of Shareholders |
|
No. of Shares |
|
Babulal Hazra |
|
58000 |
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Bulbul Hazra |
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38500 |
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Indraneel Hazra |
|
3500 |
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Total |
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100000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Elevators. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Punjab National Bank, Keyatala Road, 123 Southern Avenue, Kolkata –
700029, West Bengal, India |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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Name : |
Nirmal and Associates Chartered Accountants |
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Address : |
Nepali Kothi, Opposite Gasoline Petrol Pump, Boring Road, Patna –
800001, Bihar, India |
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PAN No.: |
AADFN3883F |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
2.215 |
2.215 |
0.735 |
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3] Reserves & Surplus |
4.919 |
4.297 |
3.737 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
8.134 |
7.512 |
5.472 |
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LOAN FUNDS |
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1] Secured Loans |
4.988 |
4.723 |
4.884 |
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2] Unsecured Loans |
0.000 |
0.031 |
0.000 |
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TOTAL BORROWING |
4.988 |
4.754 |
4.884 |
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DEFERRED TAX LIABILITIES |
0.040 |
0.000 |
0.000 |
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TOTAL |
13.162 |
12.266 |
10.356 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.601 |
2.609 |
1.719 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
11.980
|
10.889 |
14.516 |
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Sundry Debtors |
5.047
|
1.344 |
0.000 |
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Cash & Bank Balances |
0.277
|
0.437 |
0.201 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
0.115
|
0.075 |
0.049 |
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Total
Current Assets |
17.419
|
12.745 |
14.766 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
3.562
|
2.025 |
3.926 |
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Other Current Liabilities |
0.000
|
0.000 |
2.203 |
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Provisions |
3.296
|
1.063 |
0.000 |
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Total
Current Liabilities |
6.858
|
3.088 |
6.129 |
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Net Current Assets |
10.561
|
9.657 |
8.637 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
13.162 |
12.266 |
10.356 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.61
|
0.63 |
0.89 |
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Current Ratio (Current Asset/Current Liability) |
|
2.54
|
4.13 |
2.41 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
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2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
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4] |
Premises details |
No |
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5] |
Type of Business |
Yes |
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6] |
Line of Business |
Yes |
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7] |
Promoter's background |
Yes |
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8] |
No. of employees |
No |
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9] |
Name of person contacted |
No |
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10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
No |
|
12] |
Profitability for last
two 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 |
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18] |
Major customers |
No |
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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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Sri Amar Rai |
0.000 |
0.019 |
|
Sri Bhaskar Banerjee |
0.000 |
0.012 |
|
|
|
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Total |
0.000 |
0.031 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity
number of the company |
U29150WB2003PTC097038 |
|
Name of the
company |
GEE ELEVATORS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
77/4 Bose Para Kamdaharigaria, Kolkata – 700084, West Bengal, India Email: ca_firm@rediffmail.com
|
|
This form is for |
Modification of charge |
|
Charge identification
(ID) number of the charge to be modified |
10162919 |
|
Type of charge |
·
Immovable
property ·
Book debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
(CIN: U29150WB2003PTC097038) Punjab National Bank, Keyatala Road, 123 Southern Avenue, Kolkata –
700029, West Bengal, India Email: bo1667@pnb.co.in |
|
Nature of
instrument creating charge |
Hypothecation
agreement dated 15.03.2013 to secure Cash Credit Facility of Rs 9.000
Millions |
|
Date of
instrument Creating the charge |
15.03.2013 |
|
Amount secured by
the charge |
Rs 9.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 5% above bank
rate presently 15.25% p.a with monthly rests Terms of
Repayment on demand Margin 25% on stock and
25% on book debts Extent and
Operation of the charge Hypothecation of
entire stocks of machinery, spare parts, control panels, cables, fabricated
structures etc and book debts Others 2ONE |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Entire stocks of machinery,
spare parts, control panels, cables, fabricated structures etc and book debts |
|
Date of
instrument modifying the charge |
20.06.2009 |
|
Particulars of
the present modification |
Enhancement of CC
Limit from Rs 5.000 Millions to Rs 9.000 Millions |
FIXED ASSETS
- Tool and
Implements
- Factory Shed
- Scorpio Car
- Mobile
- Furniture and
Furniture
- Air
Conditioner
- Computer
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.56.74 |
|
|
1 |
Rs.88.53 |
|
Euro |
1 |
Rs.75.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
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 |
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 |
|
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 |
|
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.