MIRA
INFORM REPORT
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Report Date : |
21.02.2014 |
IDENTIFICATION DETAILS
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Name : |
ARCHROMA INDIA
PRIVATE LIMITED |
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Registered
Office : |
A/3, Prasanna Jeevan
CHS Limited, |
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Country : |
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Date of
Incorporation : |
26.04.2013 |
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Com. Reg. No.: |
11-242571 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.100
million |
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CIN No.: [Company Identification
No.] |
U24246MH2013FTC242571 |
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Legal Form : |
Private Limited Liability Company |
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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. |
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No. of Employees
: |
Information declined by the Management. |
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 Company |
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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 26.04.2013 and it is
establishing itself gradually. Management has denied to disclose any information about the company. 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry retained
its status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
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
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Registered Office : |
A/3, Prasanna
Jeevan CHS Limited, Eksar Road, Near Rajdhani Hotel, Borivali (West), Mumbai
– 400 092, Maharashtra, India |
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Tel. No.: |
91-22-25315255/ 25315190 |
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Fax No.: |
91-22-25315190 |
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E-Mail : |
DIRECTORS
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Name : |
Rajasekaran Padmanaban |
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Designation : |
Additional Director |
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Address : |
No.798, 29th Street, TNHB Korattur, Chennai – 600 080,
Tamilnadu, India |
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Date of Birth/Age : |
09.07.1966 |
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Date of Appointment : |
24.08.2013 |
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DIN No.: |
06667769 |
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Name : |
Mr. Michel Zumstein Pierre |
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Designation : |
Additional Director |
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Address : |
72, Farrer Road, Unit 04-02, Singapore 265851 |
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Date of Birth/Age : |
02.08.1967 |
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Date of Appointment : |
25.11.2013 |
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DIN No.: |
06740291 |
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E-Mail : |
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Name : |
Mr. Thomas Winkler |
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Designation : |
Additional Director |
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Address : |
43, Jalan, Kampong Chantek, Singapore 588619 |
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Date of Birth/Age : |
01.01.1961 |
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Date of Appointment : |
25.11.2013 |
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DIN No.: |
06740261 |
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E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 19.04.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
holding |
|
Archroma Textiles SARL, Luxembourg |
99000 |
99.00 |
|
Archroma Paper SARL, Luxembourg |
1000 |
1.00 |
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Total
|
100000 |
100.00 |
BUSINESS DETAILS
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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
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No. of Employees : |
Information declined by the Management. |
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Bankers : |
Not Divulged |
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Banking
Relations : |
-- |
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Auditors : |
Not Divulged |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Re.1/- each |
Rs.0.500 million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Re.1/- each |
Rs.0.100
million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW COMPANY
LOCAL AGENCY FURTHER INFORMATION
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Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
No |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter’s background |
Yes |
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8) No. of employees |
No |
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9) Name of person contacted |
No |
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10) Designation of contact person |
No |
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11) Turnover of firm for last three years |
No |
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12) Profitability for last three years |
No |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
No |
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20) Export / Import details (if
applicable) |
No |
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21) Market information |
-- |
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22) Litigations that the firm / promoter
involved in |
-- |
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23) Banking Details |
No |
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24) Banking facility details |
No |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
No |
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28) Incorporation details, if applicable |
Yes |
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29) Last accounts filed at ROC |
No |
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30) Major Shareholders, if available |
Yes |
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31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
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32)
PAN of Proprietor/Partner/Director, if available |
No |
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33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
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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.62.28 |
|
|
1 |
Rs.103.84 |
|
Euro |
1 |
Rs.85.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
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|
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.