MIRA INFORM REPORT

 

 

Report Date :

18.03.2013

 

IDENTIFICATION DETAILS

 

Name :

IBC IMPEX PRIVATE LIMITED

 

 

Registered Office :

2nd Floor, Adv. Padheye House, M.G. House, Civil Lines, Nagpur – 440 001, Maharashtra

 

 

Country :

India

 

 

Date of Incorporation :

18.05.2010

 

 

Com. Reg. No.:

11-203351

 

 

Capital Investment / Paid-up Capital :

Rs.0.100 million

 

 

CIN No.:

[Company Identification No.]

U74900MH2010PTC203351

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader and Importer of Coal.

 

 

No. of Employees :

100 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (26)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject was established as a proprietory concern during 2008 by the name ‘AAI Sales Corporation’ and during 2010 it got reconstituted as a private limited by the name ‘IBC Impex Private Limited’.

 

The management of the company has not filed its financials with the Government Department since its incorporation.

 

Mr. Rahul, from the Accounts Department has provided all information to us but the financials are not verified.

 

However, trade relations are reported as fair. Business is active. Payment terms are slow.

 

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 – June 30, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

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

 

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

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.

 

 

INFORMATION PARTED BY 

 

Name :

Mr. Rahul

Designation :

Accounts Department

Contact No.:

91-712-6648339

Date :

28.01.2013

 

 

LOCATIONS

 

Registered Office/ Head Office :

2nd Floor, Adv. Padheye House, M.G. House, Civil Lines, Nagpur – 440 001, Maharashtra, India

Tel. No.:

91-712-6648339

Fax No.:

91-712-3013101

E-Mail :

ibc@ibcgroup.in

nkd@ibcgroup.in

alihatimh@gmail.com

Website :

http://www.ibcgroup.in

Location :

Owned

 

 

Regional Office :

4th Floor, Gursukh Tower, Katora Talab, Raipur – 492 001, Chhattisgarh, India

 

 

Branch Office :

Located at:

 

v      Delhi

v      Bangalore

v      Mangalore

v      Ahmedabad

v      Indore

v      Hyderabad

v      Chandrapur

v      Bilaspur

v      Sambalpur

v      Badbil

v      Jharsuguda

v      Vizag

v      Bhubhneshwar

 

 

DIRECTORS

 

Name :

Mr. Nandkishor Gopichand Dandare

Designation :

Director

Address :

T/4/56, Shakthinagar, Devasuguru (Shaktinagar), Raichur – 584 170, Karnataka, India 

Date of Birth/Age :

23.04.1983

DIN No.:

02980054

Voter ID No.:

YFO0402818

 

 

Name :

Ms. Sweta Nandakishore Dandare

Designation :

Director

Address :

28/3, A-3, Forest Society, Seminary Hills, Civil Lines, Nagpur – 440 001, Maharashtra, India 

Date of Birth/Age :

22.08.1982

Date of Appointment :

28.11.2012

DIN No.:

02980774

 

 

KEY EXECUTIVES

 

Name :

Mr. Rahul

Designation :

Accounts Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 24.04.2010

 

Names of Shareholders

 

No. of Shares

 

Nandkishor Gopichand Dandare

 

7000

Sweta Nandakishore Dandare

 

3000

Total

 

10000

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Importer of Coal.

 

 

Imports :

 

Products :

Coal

Countries :

v      South Africa

v      Indonesia

 

 

Terms :

 

Selling :

Cash and Credit (30/ 60 days)

 

 

Purchasing :

L/C, Cash and Credit (30/ 60 days) 

 

 

GENERAL INFORMATION

 

Customers :

Manufacturer and Industries

 

v      VHM Industries

v      Gharda Chemicals

 

 

No. of Employees :

100 (Approximately)

 

 

Bankers :

v      Allahabad Bank, Manewada Branch, Cement Road, Nagpur - 440 024, Maharashtra, India (Contact No.: 91-712-2052088)

v      Axis Bank Limited, Nagpur Branch, Maharashtra, India (Contact No.: 91-712-6621800)

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Tarun Sawal

Chartered Accountant

Address :

165, Nikunj,Cement Road, New Shukrawari Mahal, Nagpur – 440 032, Maharashtra, India

E-Mail :

tarunsawal@yahoo.com

Income-tax PAN of auditor or auditor's firm :

AKNPS9562J

 

 

Group Companies:

v      IBC Infoline
v      IBC Agro Limited
v      Gursukh Energy Private Limited
v      MAA Tarani Energy Private Limited

 

 

CAPITAL STRUCTURE

 

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

10000

Equity Shares

Rs.10/- each

Rs.0.100 million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

Particulars

 

 

31.03.2012

31.03.2011

Sales Turnover (Approximately)

 

142.500

80.000

 

 

 

 

 

The above information has been parted by Mr. Rahul (Accounts Department).

 

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

Yes

9) Name of person contacted

Yes

10) Designation of contact person

Yes

11) Turnover of firm for last two years

Yes

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

Yes

17) Major suppliers

No

18) Major customers

Yes

19) Payments terms

Yes

20) Export / Import details (if applicable)

Yes

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

No

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

Yes

32) PAN of Proprietor/Partner/Director, if available

No

33) Voter ID No of Proprietor/Partner/Director, if available

Yes

34) External Agency Rating, if available

No

 

 


Note:

The registered office of the company has been shifted from 3-C, 3rd Floor, JB Wing (NMC) Manglwari Complex, Sadar, Nagpur – 440 001, Maharashtra to the present address w.e.f. 15.04.2011.

 

Bankers Charges Report as per Registry

 

Corporate identity number of the company

U74900MH2010PTC203351

Name of the company

IBC IMPEX PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

2nd Floor, Adv. Padheye House, M.G. House, Civil Lines, Nagpur – 440 001, Maharashtra, India 

E-Mail: ibc@ibcgroup.in

This form is for

Creation of charge

Type of charge

Book Debts

Movable Property (not being pledge)

Others (Stocks)

Particular of charge holder

Allahabad Bank, Manewada Branch, Cement Road, Nagpur - 440 024, Maharashtra, India

E-Mail: emailroc@rediffmail.com

Nature of description of the instrument creating or modifying the charge

General Letter of Hypothecation applicable in the case of limited liability companies

Date of instrument Creating the charge

28.09.2011

Amount secured by the charge

Rs.20.000 millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest:

Interest @ 4% over base rate i.e. 14.75 % p.a.

 

Terms of Repayment:

As per the Agreement.

 

Margin:

Margin @ 25% on Stocks and Book debts upto 90 days

 

Extent and Operation of the charge:

At the request of the borrower company, the bank has sanctioned Cash Credit limit of Rs.20.000 millions against Hypothecation of Stocks, book debts and other movable and current assets of the borrower company.

Short particulars of the property charged

Hypothecation of Stocks, book debts and other movable and current assets of the borrower company.

 

TRADE REFERENCES:

 

v      VHM Industries

v      Gharda Chemicals


 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.54.16

UK Pound

1

Rs.81.74

Euro

1

Rs.70.50 

 

 

INFORMATION DETAILS

 

Information Gathered by :

PLK

 

 

Report Prepared by :

SMN

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

2

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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

26

 

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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.