|
Report Date : |
19.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
ARCHROMA INDIA PRIVATE
LIMITED |
|
|
|
|
Registered
Office : |
A/3, Prasanna
Jeevan CHS Limited, |
|
|
|
|
Country : |
|
|
|
|
|
Date of
Incorporation : |
26.04.2013 |
|
|
|
|
Com. Reg. No.: |
11-242571 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24246MH2013FTC242571 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing,
processing, formulating, mixing, refining, treating and dealing in the
aforesaid specialty chemicals and in all kinds and varieties of specialty
chemicals of various specifications, purities, nature including organic and
inorganic chemicals, bio-chemicals, petro-chemicals, chemical compounds,
laboratory chemicals, scientific chemicals, industrial chemicals and all or
any of the byproduct. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
- |
NB |
New Business |
- |
|
Status : |
New Business |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new company incorporated on 26.04.2013 and it is
establishing itself gradually. Management has denied to provide any information to us. Trade relations are improving. Business is active. Payment terms are
unknown. The company can be considered for business dealing on a safe and
secured trade terms and conditions. |
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) |
|
|
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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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 DECLINED
Management non-cooperative
(Tel. No.: 91-22-25315255/ 25315190)
LOCATIONS
|
Registered Office : |
A/3, Prasanna
Jeevan CHS Limited, Eksar Road, Near Rajdhani Hotel, Borivali (West), Mumbai
– 400 092, Maharashtra, India |
|
Tel. No.: |
91-22-25315255/ 25315190 |
|
Fax No.: |
91-22-25315190 |
|
E-Mail : |
DIRECTORS
|
Name : |
Aaron Charles Davenport |
|||||||||||||||||||||||||||
|
Designation : |
Additional Director |
|||||||||||||||||||||||||||
|
Address : |
98, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.10.1971 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
27.05.2013 |
|||||||||||||||||||||||||||
|
DIN No.: |
06547894 |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Barry Bahram Siadat |
|||||||||||||||||||||||||||
|
Designation : |
Additional Director |
|||||||||||||||||||||||||||
|
Address : |
1455, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
10.01.1954 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
27.05.2013 |
|||||||||||||||||||||||||||
|
DIN No.: |
06487490 |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Rajasekaran Padmanaban |
|||||||||||||||||||||||||||
|
Designation : |
Additional Director |
|||||||||||||||||||||||||||
|
Address : |
No.798, 29th Street, TNHB Korattur, Chennai – 600 080,
Tamilnadu, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
09.07.1966 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
24.08.2013 |
|||||||||||||||||||||||||||
|
DIN No.: |
06667769 |
|||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 19.04.2013
|
Names of Shareholders |
|
No. of Shares |
|
Archroma Textiles SARL, Luxembourg |
|
99000 |
|
Archroma Paper SARL, Luxembourg |
|
1000 |
|
Total
|
|
100000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, processing,
formulating, mixing, refining, treating and dealing in the aforesaid
specialty chemicals and in all kinds and varieties of specialty chemicals of
various specifications, purities, nature including organic and inorganic
chemicals, bio-chemicals, petro-chemicals, chemical compounds, laboratory
chemicals, scientific chemicals, industrial chemicals and all or any of the
byproduct. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management. |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Divulged |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Re.1/- each |
Rs.0.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Re.1/- each |
Rs.0.100
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW COMPANY
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 |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
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 |
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 |
No |
|
24) Banking facility details |
No |
|
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 |
No |
|
34)
External Agency Rating, if available |
No |
Note:
No Charges Exist for Company.
WEBSITE DETAILS:
NEWS:
CLARIANT CHEMICALS TO
SELL 3 UNITS TO ARCHROMA INDIA FOR RS.2090.000 MILLIONS
September 20, 2013
Clariant Chemicals
has considered and approved the sale of textile chemicals, paper specialties
and emulsions to Archroma India Private Limited for a total consideration of Rs
2091.500 millions.
Clariant Chemicals (India) Limited has informed BSE
that pursuant to the approval granted by the shareholders of the Company u/s.
Section 293(1)(a) of the Companies Act, 1956 through postal ballot, the Board
of Directors of the Company at its meeting held September 19, 2013, has
considered and approved the sale of the undertaking comprising of business of
textile chemicals, paper specialties and emulsions along with employees,
assets, liabilities and including all licenses, land leases, permits, consents
and approvals thereto as a going concern by way of a slump sale on an "as
is where is basis" to Archroma India Private Limited, a company
incorporated in India under the Companies Act, 1956, being owned by S.K. Spice
Sarl, an affiliate of S.K. Capital Partners, a US based private Investment
Firm, for a total consideration of Rs.2091.500 millions and on the terms and
conditions as stated in the Business Transfer Agreement, as on September 30,
2013.The Board also approved relocation of the Masterbatches Plant of the
Company from Kolshet, Thane to Renaissance Industrial and Warehousing Complex
situate at Village Vashere, Taluka Bhiwandi, District Thane, Maharashtra, India
to be operational effective from December, 2013.
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.61.28 |
|
|
1 |
Rs.99.03 |
|
Euro |
1 |
Rs.83.80 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
SMN |
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.