|
Report Date : |
17.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
MADHUVAN IRON PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, Office No.
201, Devarshi Complex, Near Surdhara Circle, Thaltej, Ahmedabad
– 380054, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
02.01.2012 |
|
|
|
|
Com. Reg. No.: |
04-068452 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.48.460 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27310GJ2012PTC068452 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Dealer and Distributor of Iron and Steel. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 2300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively new company having moderate track record. As per the dated 31st March 2012, the company has not
commenced its business activity. Mr. Mahendra, Accounts Department has provided general information but
denied to disclose any financial details to us. He confirmed that the
business is active. The networth of the company appears to be strong. Payment terms are
unknown. The company can be considered for business dealings with great
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 DETAILS)
|
Name : |
Mr. Mahendra |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-9227211866 |
|
Date : |
17.05.2013 |
LOCATIONS
|
Registered Office : |
2nd Floor, Office No.
201, Devarshi Complex, Near Surdhara Circle,
Thaltej, Ahmedabad – 380054, Gujarat, India |
|
Tel. No.: |
91-79-26467155 |
|
Mobile No.: |
91-9227211866 (Mr. Mahendra) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Shah Pravinchandra Kasturchand Shah |
|
Designation : |
Director |
|
Address : |
32, Ellora Park, Near Naranpura Char Rasta, Ahmedabad – 380013,
Gujarat India |
|
Date of Birth/Age : |
20.09.1932 |
|
Date of Appointment : |
22.01.2012 |
|
DIN No.: |
00290810 |
|
|
|
|
Name : |
Mr. Jignesh Pravinchandra Shah |
|
Designation : |
Director |
|
Address : |
32, Ellora Park, Near Naranpura Char Rasta, Ahmedabad – 380013,
Gujarat India |
|
Date of Birth/Age : |
22.07.1967 |
|
Date of Appointment : |
22.01.2012 |
|
DIN No.: |
00282602 |
|
|
|
|
Name : |
Mr. Jayesh Pravinchandra Shah |
|
Designation : |
Additional Director |
|
Address : |
32, Ellora Park, Near Naranpura Char Rasta, Ahmedabad – 380013,
Gujarat India |
|
Date of Birth/Age : |
07.12.1964 |
|
Date of Appointment : |
04.04.2012 |
|
DIN No.: |
00282646 |
KEY EXECUTIVES
|
Name : |
Mr. Mahendra |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Pravinchandra Kasturchand Shah |
|
5000 |
|
Jignesh Pravinchandra Shah |
|
5000 |
|
Pravinchandra K. Shah |
|
1500 |
|
Pravinchandra K.Shah JT with Madhukantaben P. Shah |
|
1500 |
|
Madhukantaben P. Shah |
|
1500 |
|
Rajesh P. Shah |
|
1500 |
|
Rajesh P. Shah JT with Killoliben R. Shah |
|
1500 |
|
Killoliniben R. Shah |
|
1500 |
|
Jayesh P. Shah |
|
1500 |
|
Jayesh P. Shah JT with Pritiben J. Shah |
|
1500 |
|
Pritiben J. Shah |
|
1500 |
|
Jignesh P. Shah |
|
1500 |
|
Jignesh P. Shah JT with Kausha J. Shah |
|
1500 |
|
Kausha J. Shah |
|
1500 |
|
Niket J. Shah |
|
1500 |
|
Karan R. Shah |
|
1500 |
|
Darsh J. Shah |
|
1500 |
|
Dhruvi J. Shah |
|
1500 |
|
Deep J. Shah |
|
1500 |
|
Birva J. Shah |
|
1500 |
|
Jashvantlal K. Shah |
|
1500 |
|
Anilaben J. Shah |
|
1500 |
|
Chetan B. Shah |
|
1500 |
|
B. K. Shah |
|
1500 |
|
B. K. Shah (HUF) |
|
1500 |
|
Rasilaben B. Shah |
|
1500 |
|
Jayesh Steel Pro. Private Limited, India |
|
400000 |
|
Jayesh Steel Private Limited, India |
|
3920000 |
|
Raj Jay Investment Private limited, India |
|
480000 |
|
|
|
|
|
Total |
|
4846000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealer and Distributor of Iron and Steel. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Standard Chartered Bank, Ground Floor, Abhijeet-II, Mithakali Six Roads, Navrangpura, Ahmedabad - 380009, Gujarat, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bhadresh and Company Chartered Accountants |
|
Address : |
203, Nalanda Enclave, Opposite
Sudama Resort, Pritamnagar, Ahmedabad – 380006, Gujarat, India |
|
PAN No.: |
AAFFB0892A |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4846000 |
Equity Shares |
Rs.10/- each |
Rs.48.460
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
48.460 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
551.303 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
599.763 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
1.197 |
|
|
TOTAL BORROWING |
|
|
1.197 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
600.960 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
0.000
|
|
|
Cash & Bank Balances |
|
|
1.660
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
599.300
|
|
Total
Current Assets |
|
|
600.960
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000
|
|
|
Other Current Liabilities |
|
|
0.000
|
|
|
Provisions |
|
|
0.000
|
|
Total
Current Liabilities |
|
|
0.000
|
|
|
Net Current Assets |
|
|
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
600.960 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
0.000 |
|
|
|
Other Income |
|
|
0.000 |
|
|
|
TOTAL |
|
|
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Other Expenses |
|
|
0.697 |
|
|
|
TOTAL |
|
|
0.697 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
|
(0.697) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
|
(0.697) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (loss)
Per Share (Rs.) |
|
|
(0.14) |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2012 |
|
PAT / Total Income |
(%) |
|
|
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(0.12) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
0.00 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particular |
|
|
31.03.2012 |
|
Sundry Creditor |
|
|
0.000 |
|
Total
|
|
|
0.000 |
|
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last one year |
Yes |
|
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 |
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 |
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
(Rs.
In Millions)
|
Particular |
|
As on 31.03.2012 |
|
Loans and Advances
from |
|
|
|
Directors |
|
0.510 |
|
Shareholders |
|
0.687 |
|
|
|
|
|
Total |
|
1.197 |
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration number of the company |
U27310GJ2012PTC068452 |
|
Name of the
company |
MADHUVAN IRON
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
2nd Floor, Office No. 201, Devarshi Complex, Nr. Surdhara Circle, Thaltej, Ahmedabad – 380054, Gujarat, India Email-id:- brshah@brshahca.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of
charge holder |
Standard Chartered
Bank, Ground Floor, Abhijeet-II, Mithakali Six Roads, Navrangpura, Ahmedabad – 380009, Gujarat, India Email-id:- sme.form8@sc.com |
|
Nature of
instrument creating charge |
Deed of
Hypothecation dated 18.12.2012 |
|
Date of
instrument Creating the charge |
18.12.2012 |
|
Amount secured by
the charge |
Rs. 200.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As agreed by and with
the bank from time to time Terms of Repayment As agreed by and
with the bank from time to time Margin As per bank's
sanction Extent and Operation of the charge First exclusive
charge on securities for Rs. 200.000 millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
(i) Hypothecation
on (a) exclusive first charge on all the stock in trade both present and
future consisting of raw material, goods in process and finished goods of
manufacturing and other merchandize (ii) All the
present and future book debts, outstanding moneys receivables, claims and
bills (iii) Moveable
fixed assets of the company |
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.54.77 |
|
|
1 |
Rs.83.31 |
|
Euro |
1 |
Rs.70.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
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 |
4 |
|
--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 |
|
- |
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.