1. Summary Information
|
Country |
India |
||
|
Company Name |
IDOL PLASTO
PRIVATE LIMITED |
Principal Name 1 |
Mr. Hareshbhai Savdasbhai Kothiya |
|
Status |
Recently
commenced its business activity |
Principal Name 2 |
Mr. Mahendrabhai Khodabhai Limbasia |
|
Registration # |
04-064571 |
||
|
Street Address |
Rajkot –
Ahmedabad National High Way No. 8-B, Kavadava Chowkdi, Survey No. 552/1P1,
Kuvadava, Rajkot – 360023, Gujarat |
||
|
Established Date |
23.03.2011 |
SIC Code |
-- |
|
Telephone# |
Not Available |
Business Style 1 |
Manufacturer |
|
Fax # |
Not Available |
Business Style 2 |
Supplier |
|
Homepage |
Not Available |
Product Name 1 |
Pipes and Fittings |
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 5,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or
relatives of Directors – 100.00% |
Banking |
Central Bank of
India |
|
Public Limited Corp. |
No |
Business Period |
2 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
6,782,000 |
Current Liabilities |
18,000 |
|
Inventories |
3,977,000 |
Long-term Liabilities |
34,211,000 |
|
Fixed Assets |
28,470,000 |
Other Liabilities |
0,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
34,229,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
0,000 |
|
|
|
Net Worth |
5,000,000 |
|
Total Assets |
39,229,000 |
Total Liab. & Equity |
39,229,000 |
|
Total Assets (Previous Year) |
5,325,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
-- |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
MIRA INFORM REPORT
|
Report Date : |
27.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
IDOL PLASTO PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Rajkot – Ahmedabad National High Way No. 8-B, Kavadava Chowkdi, Survey
No. 552/1P1, Kuvadava, Rajkot – 360023, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
23.03.2011 |
|
|
|
|
Com. Reg. No.: |
04-064571 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200GJ2011PTC064571 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of a remarkable range of pipes and fittings. |
|
|
|
|
No. of Employees
: |
Not Available |
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 |
|
Maximum Credit Limit : |
USD 20000 |
|
|
|
|
Status : |
Recently commenced its business activity |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the company was incorporated during March 23, 2011 it has recently
commenced its business activity during 2012 (Year 2012-2013). Mr. Haresh, the director has confirmed that the business activity has
been commenced and the company has achieved a sizeable turnover of Rs. 30.000
Millions. However, he is expecting an increase during year 2013-2014 amounting
to Rs.100.000 Millions Trade relations are improving. Business is active. Payments are
recorded as 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 |
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 : |
Rajkot – Ahmedabad National High Way No. 8-B, Kavadava Chowkdi, Survey
No. 552/1P1, Kuvadava, Rajkot – 360023, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 30.09.2012
|
Name : |
Mr. Hareshbhai Savdasbhai Kothiya |
|
Designation : |
Director |
|
Address : |
"Meera",
Poonam Society Street No. 1, Sardar Nagar Main Road, Mavdi Plot, Patel
Boarding Corner, Rajkot, Gujarat, India |
|
Date of Birth/Age : |
12.05.1980 |
|
Date of Appointment : |
23.03.2011 |
|
DIN No.: |
00559140 |
|
|
|
|
Name : |
Mr. Mahendrabhai Khodabhai Limbasia |
|
Designation : |
Director |
|
Address : |
"Maa",
Tanti Park Street No. 2, Plot No. 41, Astron Society Main Road, Rajkot,
Gujarat, India |
|
Date of Birth/Age : |
01.06.1970 |
|
Date of Appointment : |
23.03.2011 |
|
DIN No.: |
03468092 |
|
|
|
|
Name : |
Mr. Chetan Kumar Rajabhai Limbasiya |
|
Designation : |
Director |
|
Address : |
Panchavati Nagar,
Near Panchavati Society, Near Sorathiya Wadi, Nana Mava Main Raod, Rajkot –
360001, Gujarat, India |
|
Date of Birth/Age : |
10.09.1981 |
|
Date of Appointment : |
24.03.2011 |
|
DIN No.: |
03474320 |
|
|
|
|
Name : |
Mr. Gopal N Vadodariya |
|
Designation : |
Director |
|
Address : |
"Jagdish",
Tanti Park Street No. 3, Plot No. 23/24, Astron Society Main Road, Rajkot,
Gujarat, India |
|
Date of Birth/Age : |
01.04.1971 |
|
Date of Appointment : |
24.03.2011 |
|
DIN No.: |
03474314 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Hareshbhai Savdasbhai Kothiya |
|
50000 |
|
Mahendrabhai Khodabhai Limbasia |
|
75000 |
|
Cheran Kumar Rajabhai Limbasiya |
|
50000 |
|
Gopal N Vadodariya |
|
37000 |
|
Shaileshbhai Rajabha Limbasiya |
|
25000 |
|
Hiteshbhai Govindbha Limbasiya |
|
75000 |
|
Nathabhai Karmanbh Vadodariya |
|
30000 |
|
Bhartiben Gopalbha Vadodariya |
|
19250 |
|
Heenaben Kantibhai Vadodariya |
|
26250 |
|
Bhanuben Jentibhai Vadodariya |
|
56250 |
|
Madhuben Chhaganb Vadodariya |
|
56250 |
|
|
|
|
|
Total |
|
500000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of a remarkable range of pipes and fittings. |
PRODUCTION STATUS (As on 31.03.2011)
|
PARTICULARS |
|
|
|
|
|
Annual Installed capacity |
3500 M.T. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Central Bank of India, Metoda Branch, District Rajkot – 360021,
Gujarat, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H. H. Atkotiya and Associates Chartered Accountants |
|
Address : |
302, Cosmo Complex, Kalawad Raod, Mahila College Chowk, Opposite LIC Office,
Rajkot – 360001, Gujarat, India |
|
PAN No.: |
ACGPA5620C |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
5.000 |
0.200 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
5.000 |
0.200 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
19.469 |
0.000 |
|
|
2] Unsecured Loans |
|
14.742 |
5.125 |
|
|
TOTAL BORROWING |
|
34.211 |
5.125 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
39.211 |
5.325 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
28.470 |
3.911 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
3.977
|
0.000 |
|
|
Sundry Debtors |
|
0.000
|
0.000 |
|
|
Cash & Bank Balances |
|
1.350
|
1.280 |
|
|
Other Current Assets |
|
4.254
|
0.000 |
|
|
Loans & Advances |
|
1.178
|
0.134 |
|
Total
Current Assets |
|
10.759
|
1.414 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.001
|
0.000 |
|
|
Other Current Liabilities |
|
0.017
|
0.000 |
|
|
Provisions |
|
0.000
|
0.000 |
|
Total
Current Liabilities |
|
0.018
|
0.000 |
|
|
Net Current Assets |
|
10.741
|
1.414 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
39.211 |
5.325 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
6.84
|
25.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
597.72
|
0.00 |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
two 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 |
|
18] |
Major customers |
No |
|
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 |
NOTE: Registered office of the company has been
shifted from "Meera", Poonam Society Street No. 1, Sardar Nagar Main Road,
Mavdi Plot, Rajkot - 360004, Gujarat, India to
the present address w.e.f 17.08.2012
FINANCIAL RESULTS:
(2011-12)
The Company has not
commenced any business activities during the accounting period. Hence, the
directors regret their inability to report on financial profitability results
of the Company.
OPERATION AND
PROSPECTS
As the company has
not commenced business activity during the current year there is no profit. The
prospects of the Company’s business are very bright and positive.
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
From Directors |
7.571 |
4.645 |
|
From Shareholders and Directors Relatives |
7.171 |
0.480 |
|
Total |
14.742 |
5.125 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U25200GJ2011PTC064571
|
|
Name of the
company |
IDOL PLASTO
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Rajkot – Ahmedbad National High Way No. 8-B, Kavadava Chowkdi, Survey
No. 552/1P1, Kuvadava, Rajkot – 360023, Gujarat, India Email: hiteshha@yahoo.co.in |
|
This form is for |
Modification
of charges |
|
Charge
identification (ID) number of the charge to be modified |
10317630 |
|
Type of charge |
Book Debts Movable Property (Not
Being Pledge) Stock |
|
Particular of
charge holder |
(CIN: U99999MH1911PTC000337) Central Bank of India, Metoda Branch, District Rajkot – 360021,
Gujarat, India Email: bmrajk2499@centralbank.co.in |
|
Nature of
instrument creating charge |
- Supplemental
deed of hypothecation - Letter of
hypothecation-book debts-loans |
|
Date of
instrument Creating the charge |
22.03.2013 |
|
Amount secured by
the charge |
Rs.35.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest - Term loan :-
Base Rate 10.25% + 2.50% Tenor premium i.e. 12.75% at present - Working capital
:- Base Rate 10.25% + 1.75% Tenor Premium i.e. 12.00% at present - LC Limit :- As
per CO Guidelines Terms of
Repayment (A) Term Loan:
Total Term Loan of Rs. 15.000 Millions Repayments in 60 EMI each of Rs. 0.338 Millions with a moratorium period of
6 months from the date of first disbursement. Interest to be paid separately
as and when due. (B) Cash credit
and ODBD: Combined Limit of CC+ODBD of Rs. 10.000 Millions on demand subject
to annual review. (C) Letter of
Credit Limit : As per CO Guidelines Margin (A) Term Loan :
25% (B) Cash credit and
ODBD: All types of Stock:- 25%, Receivable not older than 90 days :- 25% (C) Letter of
Credit Limit : As per CO Guidelines Extent and
Operation of the charge The Charge Shall Remain in Operation till full
Repayment of all Outstanding dues to the Bank, with Interest, if any Others 2THS |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
- Hypothecation
of all kinds of Stock and Receivable (Covered
Period of Receivable 90 days), present and future - Hypothecation
of all kinds of Plant and Machineries and other movable assets which now
belong to and may hereafter, during continuance of the borrower's liability,
belong to the borrower. |
|
Particulars of
the present modification |
- Enhancement of
Charge from Rs. 20.000 Millions to Rs. 35.000 Millions due to increase in
cash credit limit from Rs. 5.000 Millions to Rs. 10.000 Millions and New
limit of Letter of Credit of Rs. 10.000 Millions |
FIXED ASSETS
- Factory Land
- Factory Construction Expenses
- Electric Fitting
- Laboratory Instruments
- Plant and Machinery
- Weigh Balance Machine
- Incidental Expenditure
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.55.60 |
|
|
1 |
Rs.83.98 |
|
Euro |
1 |
Rs.71.94 |
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.