MIRA INFORM REPORT
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Report Date : |
02.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
AARON ISPAT PRIVATE LIMITED |
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Registered
Office : |
103, 1st Floor Prince Tower, L.B.S. Marg, Near Telephone
Exchange, Ghatkopar West , Mumbai – 400086, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
03.03.2014 |
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Com. Reg. No.: |
11-253748 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U51502MH2014PTC253748 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Trader of Iron Steel and TMT bar. |
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No. of Employees
: |
4 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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- |
NB |
New Business |
- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company incorporated on 03.03.2014, and it is
establishing itself gradually. Mr. Narendra Shah, Director has provided general information and also
informed that business activity is started from 17th November 2014
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
Not Available
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
31-03-2014.
INFORMATION PARTED BY (GENERAL INFORMATION)
|
Name : |
Mr. Narendra Shah |
|
Designation : |
Director |
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Contact No.: |
91-9321222523 |
|
Date : |
29.11.2014 |
LOCATIONS
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Registered Office / Warehouse : |
103, 1st Floor Prince Tower, L.B.S. Marg, Near Telephone
Exchange, Ghatkopar West , Mumbai – 400086, Maharashtra, India |
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Tel. No.: |
91-22-21023243 |
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Mobile No.: |
91-9321222523 (Mr. Narendra) |
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Fax No.: |
Not Available |
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E-Mail : |
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Area : |
2000 Sq. Ft. |
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Location : |
Owned |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Narendra Shantilal Shah |
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Designation : |
Director |
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Address : |
1, Savita C.H.S., Plot No. 86, Tilak Road, Opposite Balaji Mandir,
Ghatkopar (E), Mumbai – 400077, Maharashtra, India |
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Date of Appointment : |
03.03.2014 |
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DIN No.: |
06754957 |
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Name : |
Sanjay Shantilal Shah |
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Designation : |
Director |
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Address : |
7, Sudeep Building, 1st Floor, Tilak Road, V.B.X. Lane,
Ghatkopar (E), Mumbai – 400077, Maharashtra, India |
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Date of Appointment : |
03.03.2014 |
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DIN No.: |
06754965 |
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Name : |
Ankit Devendra Doshi |
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Designation : |
Director |
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Address : |
3, Jayesh Bhuvan, Zaver Road, Mulund (W), Mumbai – 400080,
Maharashtra, India |
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Date of Appointment : |
03.03.2014 |
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DIN No.: |
06758358 |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Narendra Shantilal Shah |
2500 |
25.00 |
|
Sanjay Shantilal Shah |
2500 |
25.00 |
|
Ankit Devendra Doshi |
5000 |
50.00 |
|
Total |
10,000 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Iron Steel and TMT bar. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
4 (Approximately) |
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Bankers : |
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Facilities : |
Not Divulged |
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Auditors : |
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Name : |
Chirag Varaiya and Associates Chartered Accountant |
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Address : |
Office 9, J.D. Shopping Centre, J. D. Road, Mulud West, Mumbai -
400080, Mahrashtra, India |
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PAN No.: |
AAIFC8298C |
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Memberships : |
--- |
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Collaborators : |
--- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
10000 |
Equity Shares |
Rs.10/-each |
Rs.0.100 Million |
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]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
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|
31.03.2014 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
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0.100 |
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(b) Reserves &
Surplus |
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(0.035) |
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(c) Money received
against share warrants |
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0.000 |
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(2) Share Application
money pending allotment |
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0.000 |
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Total Shareholders’ Funds
(1) + (2) |
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0.065 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
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0.000 |
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(b) Deferred tax
liabilities (Net) |
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0.000 |
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(c) Other long term
liabilities |
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0.000 |
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(d) long-term provisions |
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0.000 |
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Total Non-current
Liabilities (3) |
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0.000 |
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(4) Current Liabilities |
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(a) Short term borrowings |
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0.000 |
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(b) Trade payables |
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|
0.000 |
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(c) Other current
liabilities |
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|
0.041 |
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(d) Short-term provisions |
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0.000 |
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Total Current Liabilities
(4) |
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0.041 |
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TOTAL |
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0.106 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
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0.000 |
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(ii) Intangible Assets |
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0.000 |
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(iii) Capital
work-in-progress |
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0.000 |
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(iv) Intangible assets under
development |
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0.000 |
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(b) Non-current
Investments |
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0.000 |
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(c) Deferred tax assets
(net) |
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|
0.006 |
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(d) Long-term Loan and Advances |
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0.000 |
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(e) Other Non-current
assets |
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0.000 |
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Total Non-Current Assets |
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0.006 |
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(2) Current assets |
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(a) Current investments |
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0.000 |
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(b) Inventories |
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0.000 |
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(c) Trade receivables |
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0.000 |
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(d) Cash and cash
equivalents |
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0.100 |
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(e) Short-term loans and
advances |
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0.000 |
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(f) Other current assets |
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0.000 |
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Total Current Assets |
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0.100 |
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TOTAL |
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0.106 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
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|
31.03.2014 |
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GROSS TURNOVER |
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0.000 |
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Less |
EXPENSES |
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0.041 |
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PROFIT/ (LOSS) BEFORE TAX |
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(0.041) |
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Less |
TAX |
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(0.006) |
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PROFIT/ (LOSS) AFTER TAX |
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(0.035) |
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Earnings / (Loss) Per
Share (Rs.) |
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(3.50) |
KEY RATIOS
|
PARTICULARS |
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31.03.2014 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
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(41.00) |
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Return on Investment (ROI) (PBT/Networth) |
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(0.63) |
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Debt Equity Ratio (Total Liability/Networth) |
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|
0.00 |
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Current Ratio (Current Asset/Current Liability) |
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|
|
2.44 |
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
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 |
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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 |
INDEX OF CHARGES
No Charges Exist for
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 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 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] 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.61.13 |
|
|
1 |
Rs.97.05 |
|
Euro |
1 |
Rs.77.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
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Analysis Done by
: |
SUM |
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|
Report Prepared
by : |
PNM |
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.