|
Report Date : |
30.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
AMARSAI SHRINK PACK PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Plot No. F-35, Behind Hotel Annapurna, MIDC, Satpur, Nashik-422007,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Date of
Incorporation : |
07.04.2010 |
|
|
|
|
Com. Reg. No.: |
11-201814 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 28.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36993MH2010PTC201814 |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business : |
Manufacturer and Suppliers of Packaging and Labeling Materials such as
PVC Shrink Films, Reverse Printed a Shrink Labels Packing Sleeves etc. |
|
|
|
|
No. of Employees : |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a successor of Amarsai Shrink Pack a partnership concern
started in the year 2007 and got converted into “Private Limited” company
during 2010. The management has not filed its financial details since its
inception. Mr. Arun Vaishnav from Accounts Department has provided general
information but denied to disclose its financial detail. However, Trade
relations are reported as fair. Business is active. Payments 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 – 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
B (Term Loans and Cash Credit) |
|
Rating Explanation |
High Risk of Default. |
|
Date |
September 2012 |
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 (GENERAL INFORMATION)
|
Name : |
Mr. Arun Vaishnav |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-253-6614353 |
|
Date : |
19.03.2013 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. F-35, Behind Hotel Annapurna, MIDC, Satpur, Nashik-422007,
Maharashtra, India |
|
Tel. No.: |
91-253-6614353 |
|
Fax No.: |
91-253-350463 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
9500 sq. ft. |
|
Location: |
Owned |
DIRECTORS
|
Name : |
Mr. Machindra Motiram Shewale |
|
Designation : |
Managing Director |
|
Address : |
05A, Raviraj Park-A, Opposite Mahesh Bhavan, Ganesh Chowk, Near Ambad
Police Station, CIDCO, Nashik-422009, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1969 |
|
Qualification : |
B.E |
|
Date of Appointment : |
07.04.2010 |
|
DIN No.: |
02978735 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U36993MH2010PTC201814 |
AMARSAI
SHRINK PACK PRIVATE LIMITED |
Managing
director |
07/04/2010 |
07/04/2010 |
Active |
NO |
|
2 |
U45202MH2013PTC239755 |
NEWGEN
BUILDERS AND DEVELOPERS PRIVATE LIMITED |
Director |
17/01/2013 |
17/01/2013 |
Active |
NO |
|
Name : |
Mrs. Sunita Machindra Shewale |
|
Designation : |
Director |
|
Address : |
B-3, Adarsh CIDCO, Ganesh Chowk, Nashik-422009, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1979 |
|
Qualification : |
HSC |
|
Date of Appointment : |
07.04.2010 |
|
DIN No.: |
02978701 |
|
|
|
|
Name : |
Mr. Popat Daga Gangurde |
|
Designation : |
Director |
|
Address : |
VF2/16/10, Patil Nagar, Shivanandan Chowk, Trimurti Chowk, CIDCO,
Nashik-422009, Maharashtra, India |
|
Date of Birth/Age : |
30.04.1969 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
07.04.2010 |
|
DIN No.: |
02978745 |
KEY EXECUTIVES
|
Name : |
Mr. Arun Vaishnav |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 15.03.2010
|
Names of Shareholders |
No. of Shares |
|
Machindra Shewale |
900 |
|
Sunita Machindra Shewale |
50 |
|
Popat Daga Gangurde |
50 |
|
TOTAL
|
1000 |
AS ON 08.07.2012
|
Names of Allottees |
No. of Shares |
|
Machindra Shewale |
9000 |
|
Sunita Machindra Shewale |
500 |
|
Popat Daga Gangurde |
500 |
|
TOTAL
|
10000 |
AS ON 23.04.2011
|
Names of Allottees |
No. of Shares |
|
Machindra Shewale |
85500 |
|
Sunita Machindra Shewale |
4750 |
|
Popat Daga Gangurde |
4750 |
|
TOTAL |
95000 |
AS ON 18.07.2011
|
Names of Allottees |
No. of Shares |
|
Machindra Shewale |
27000 |
|
Sunita Machindra Shewale |
1500 |
|
Popat Daga Gangurde |
1500 |
|
TOTAL |
30000 |
AS ON 04.02.2011
|
Names of Allottees |
No. of Shares |
|
Machindra Shewale |
129600 |
|
Sunita Machindra Shewale |
7200 |
|
Popat Daga Gangurde |
7200 |
|
TOTAL |
144000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Suppliers of Packaging and Labeling Materials such as
PVC Shrink Films, Reverse Printed a Shrink Labels Packing Sleeves etc. |
|
|
|
|
Products : |
·
PVC Shrink Films ·
Reverse Printed Shrink Labels ·
General Packing Sleeves ·
Reverse Printed Sleeves or Labels ·
Cap Seals ·
Dry Cell ·
Electrolytic Capacitor Sleeves ·
Bus Bar and Capacitors |
|
|
|
|
Terms : |
|
|
Selling : |
Credit, Cheque (60 Days) |
|
|
|
|
Purchasing : |
Credit, Cheque (60 Days) |
GENERAL INFORMATION
|
Suppliers : |
|
|
|
|
|
Customers : |
OEM’s and Traders
|
|
|
|
|
No. of Employees : |
50 (Approximately) |
|
|
|
|
Bankers : |
Tel No.:- 91-253-6451946 Note: - Banker reported that the company maintains
proper record and good relations with bank |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. B K Singh Chartered Accountant |
|
Address : |
Nashik, Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.100/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
280000 |
Equity Shares |
Rs.100/-
each |
Rs. 28.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Divulged
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 |
Yes |
|
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 |
No |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
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 |
No |
|
34] |
External Agency Rating,
if available |
Yes |
FORM 8
|
Corporate
identity number of the company |
U36993MH2010PTC201814 |
||||||||||||||||||
|
Name of the
company |
AMARSAI SHRINK
PACK PRIVATE LIMITED |
||||||||||||||||||
|
Address of the
registered office or of the principal place of business in |
Plot No. F-35, Behind Hotel Annapurna, MIDC, Satpur, Nashik-422007, Maharashtra,
India E-mail : suranaaj@yahoo.co.in
|
||||||||||||||||||
|
This form is for |
Modification of
charge |
||||||||||||||||||
|
Charge
identification number of the charge to be modified |
10232637 |
||||||||||||||||||
|
Type of charge |
|
||||||||||||||||||
|
Particular of
charge holder |
State Bank of Bikaner and Jaipur, 02, Rushiraj Heights, Mahatma Nagar,
Near Water Tank,, Nashik - 422007, Maharashtra, India E-mail : sbbj10943@sbbj.co.in
|
||||||||||||||||||
|
Nature of
instrument creating charge |
I. Supplemental
Agreement of Loan-Cum-Hypothecation Ii. Supplemental
Deeds of Guarantee For Increase In Overall Limit Iii. Memorandum
For Recording Extension of Mortgage By Deposit of Title Deeds |
||||||||||||||||||
|
Date of
instrument Creating the charge |
31.07.2012 |
||||||||||||||||||
|
Amount secured by
the charge |
Rs. 86.925
Millions |
||||||||||||||||||
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest CC -13% p.a at
monthly rests TL I to V-13.50%
p.a at monthly rests TL fresh- 11.75%
p.a (fixed) for first one year thereafter normal rate of interest as per
credit rating SLC - 14% p.a at
monthly rest Terms of repayment CC- Repayable on
demand TL I to V - As
per earlier agreement SLC- As per
earlier agreement Fresh term loan-
To be repaid from Feb 2013 in 78 installments, 1 to 77 installments of Rs.
0.192 Million and 78th installment of Rs. 0.193 Million Margin Raw
material:Indigenous-25% Semi-Finished
Goods-25% Finished
Goods-25% Domestic
Receivables-50% Extent and operation of the charge First Exclusive
Charge Modified In Favour of State Bank of Bikaner and Jaipur, Mahatma Nagar
Branch, Nashik |
||||||||||||||||||
|
Short particulars
of the property charged (Including location of the property) |
All the Present
and Future stocks, goods, raw materials, book debts, movable plant and
machineries and other movable assets situated in the Company Premises/
Elsewhere referred to in the said agreement. Residential Row
House no. 2 (ground floor and first floor) 123/A+2/2A+123/A+2/3/3, Plot
no.3/4/5 Nayantara Apartment, Shivaji Nagar in the name of Mrs. Sunita
Machindra Shewale Residential
Bungalow Nilesh Plot No.2/B, Survey No. 272/3/2, Kailash Nagar, Panchavati,
Nashik. 1st Charge on
Hypothecation of new Machinery (Proposed to be created by new Term Loan VI by
us and promoters margin) as per project. Factory Land and
building at Satpur. Residential House
at Patil Nagar in the name of Popat D. Gangurde. Residential House
at Kamatwade, in the name of Machindra M. Shewale and Smt. Sunita M. Shewale. |
||||||||||||||||||
|
Whether any of
the property or interest therein under reference is not registered in the
name of the company. |
Yes |
||||||||||||||||||
|
If yes, in whose
name it is registers |
Machindra M.
Shewale and Sunita M. Shewale and Popat D. Gangurde. |
||||||||||||||||||
|
Date of
instrument modifying the charge |
04.10.2011 |
||||||||||||||||||
|
Particulars of
the present modification |
By this
modification the loan amount has been enhanced from 619.25Lacs to 869.25 Lacs
which includes: (Rs. In Millions)
|
TRADE REFERENCES
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. 54.38 |
|
|
1 |
Rs. 82.32 |
|
Euro |
1 |
Rs. 69.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
|
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.