1. Summary Information
|
|
|
Country |
|
|
Company Name |
FAIRMATE CHEMICALS
PRIVATE LIMITED |
Principal Name 1 |
Mr. Rakeshbhai Baldevbhai Shah |
|
Status |
Moderate |
Principal Name 2 |
Mr. Bhaveshbhai Baldevbhai Shah |
|
|
|
Registration # |
04-026528 |
|
Street Address |
1514, Ranchhod Bhavan, Moti Vasan Sheri, Saraspur, Ahmedabad – 380008,
Gujarat |
||
|
Established Date |
27.06.1995 |
SIC Code |
-- |
|
Telephone# |
91-79-22160847 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-79-22122545 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Concrete admixtures |
|
|
# of employees |
100
(Approximately) |
Product Name 2 |
Waterproofing systems |
|
Paid up capital |
Rs. 2,000,000/- |
Product Name 3 |
Engineering grouts |
|
Shareholders |
Directors
or relatives of directors 100.00% |
Banking |
Punjab National
Bank |
|
Public Limited Corp. |
No |
Business Period |
19 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (26) |
|
Related
Company |
|||
|
Relation
-- |
Country
-- |
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
97,211,000 |
Current Liabilities |
80,757,000 |
|
Inventories |
36,755,000 |
Long-term Liabilities |
55,138,000 |
|
Fixed Assets |
16,685,000 |
Other Liabilities |
7,946,000 |
|
Deferred Assets |
51,000 |
Total Liabilities |
143,841,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
4,861,000 |
|
|
|
Net Worth |
6,861,000 |
|
Total Assets |
150,702,000 |
Total Liab. & Equity |
150,702,000 |
|
Total Assets (Previous Year) |
144,478,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
248,319,000 |
Net Profit |
1,052,000 |
|
Sales (Previous yr) |
239,791,000 |
Net Profit(Prev.yr) |
1,116,000 |
MIRA
INFORM REPORT
|
Report Date : |
06.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
FAIRMATE CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1514, Ranchhod Bhavan, Moti Vasan Sheri, Saraspur, Ahmedabad – 380008,
Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
27.06.1995 |
|
|
|
|
Com. Reg. No.: |
04–026528 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65910GJ1995PTC026528 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMF00074E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF1778M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Construction Chemicals. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 27000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There appears huge external borrowings taken by the company, which
acts as threatening to the liquidity position of the company. Profitability
of the company seems to be low. However, trade relations are fair. Business is active. Payment terms
are slow. 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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
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
India’s current account
deficit narrowed in the quarter ended September as government measures to curb
imports, especially gold, kicked in. The current account deficit, the
excess of a country’s imports of goods and services over exports, narrowed to $
5.2 billion from $ 21 billion in the year ago period, according to provisional
Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for
the year will be less than $ 60 billion or 3 per cent of GDP and the latest
data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third quarter,
according to a study by RSA. India ranks fourth in the list of nations hit by
phishing attacks. The US remained at the top of the charts. Phishing is the
process of acquiring information such as user names, passwords and credit card
details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
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
|
Name : |
Ms. Deepali |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-265-2331193 |
|
Date : |
02.01.2014 |
LOCATIONS
|
Registered/ Head Office : |
1514, Ranchhod Bhavan, Moti Vasan Sheri, Saraspur, Ahmedabad – 380008,
Gujarat, India |
|
Tel. No.: |
91-79-22160847/ 26465577/ 22923131 |
|
Fax No.: |
91-79-22122545/ 22923434 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Sai Sudha, 8/1 Arunoday Society, Alkapuri, Vadodara – 390007, Gujarat,
India |
|
Tel. No.: |
91-265-2358173-74/ 2331193 |
|
Fax No.: |
91-265-2338733 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Near Padra, Baroda, Gujarat, India |
|
|
|
|
Branch Offices : |
Located at: · Anand Ahmedabad Agra Bhopal Bhubaneswar Bengaluru Chennai Cochin Pune/Lavasa Delhi Gandhidham Jalandhar Junagadh Kanpur Lucknow Mumbai Panipat Kolkata Rajkot Surat Valsad |
|
|
|
|
international Offices : |
Located at: UAE OFFICE Hamriyah Free Zone, P.O. Box No. : 42023, Sharjah, UAE +9716 5261052 +9716 5261053 NEPAL OFFICE GPO Box No. 1344, Pako, New Road, Kathmandu, Nepal +9771 5553349 +9771 5553349 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Bhaveshbhai Baldevbhai Shah |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
1514, Moti Vasan Sheri, Saraspur, Ahmedabad – 380018, Gujarat, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
13.11.1969 |
||||||||||||||||||||||||
|
Date of Appointment : |
01.04.1999 |
||||||||||||||||||||||||
|
DIN No.: |
00500036 |
||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Rakeshbhai Baldevbhai Shah |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
1474, Nani Vasan Sheri, Saraspur, Ahmedabad – 380018, Gujarat, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
08.08.1962 |
||||||||||||||||||||||||
|
Date of Appointment : |
01.04.1997 |
||||||||||||||||||||||||
|
DIN No.: |
00500196 |
||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Ms. Deepali |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Baldevbhai Shah |
|
10 |
|
Rakesh Shah |
|
80000 |
|
Umesh Shah |
|
27420 |
|
Baldevbhai N. Shah Joint holder Rakesh B. Shah |
|
1000 |
|
Rakesh B. Shah Joint holder Jaimini R. Shah |
|
1000 |
|
Umesh B. Shah Joint holder Falguni U. Shah |
|
1000 |
|
Bhavesh B. Shah Joint holder Swati B. Shah |
|
1000 |
|
Jaimini R. Shah Joint holder Rakesh B. Shah |
|
1000 |
|
Joint holder Umesh B. Shah |
|
1000 |
|
Swati B. Shah Joint holder Bhavesh B. Shah |
|
1000 |
|
Baldevbhai N. Shah Joint holder Rakesh B. Shah Joint holder Bhavesh B. Shah |
|
1000 |
|
Ranchodbhai N. Shah Joint holder Umesh B. Shah |
|
1000 |
|
Ishwarbhai J. Patel Joint holder Rajesh I. Patel Joint holder Ratnaben I. Patel |
|
10 |
|
Abhesang P. Patel Joint holder Ramesh A. Patel Joint holder Chandu A. Patel |
|
10 |
|
Prabhuben D. Patel Joint holder Laxmiben R. Patel Joint holder Gitaben V. Patel |
|
10 |
|
Amarsang J. Patel Joint holder Laxmiben R. Patel Joint holder Ramilaben A. Patel |
|
10 |
|
Dhanjibhai B. Patel Joint holder Vasant J. Patel Joint holder Rayajibhai B. Patel |
|
10 |
|
Joint holder Manjulaben I. Patel Joint holder Chandrakant I. Khalas |
|
10 |
|
Shravanbhai J. Patel |
|
10 |
|
Bhavesh B. Shah |
|
80000 |
|
Ranchodbhai N. Shah |
|
3500 |
|
|
|
|
|
Total |
|
200000 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Construction Chemicals. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
· Middle East Far
East African
Countries |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
100 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· Kotak Mahindra Bank Limited 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai - 400021, Maharashtra, India · HDFC Bank Limited Bank
of Baroda The
Saraspur Nashik Cooperative Bank Limited Punjab
National Bank |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
· Gujarat State Financial Corporation Block No. 10-11 ; Udyog Bhavan, Gujarat, India |
|
|
|
|
Auditors : |
|
|
Name : |
J. P. Patel and Company Chartered Accountants |
|
Address : |
B/35,Third Floor, Ajanta Commercial Center, Ashram Road, Ahmedabad –
380014, Gujarat, India |
|
Tel. No.: |
91-79-27544689 |
|
Income-tax
PAN of auditor or auditor's firm : |
ABDPP5182C |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
2.000 |
2.000 |
|
(b) Reserves & Surplus |
|
4.861 |
3.809 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
6.861 |
5.809 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
24.915 |
29.795 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
24.915 |
29.795 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
30.223 |
41.374 |
|
(b)
Trade payables |
|
78.321 |
59.627 |
|
(c)
Other current liabilities |
|
2.436 |
1.845 |
|
(d) Short-term
provisions |
|
7.946 |
6.028 |
|
Total Current Liabilities
(4) |
|
118.926 |
108.874 |
|
|
|
|
|
|
TOTAL |
|
150.702 |
144.478 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
16.685 |
18.469 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.051 |
0.071 |
|
(d) Long-term Loan and Advances |
|
0.689 |
0.291 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
17.425 |
18.831 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
36.755 |
39.446 |
|
(c)
Trade receivables |
|
81.140 |
69.595 |
|
(d) Cash
and cash equivalents |
|
8.966 |
6.787 |
|
(e)
Short-term loans and advances |
|
6.416 |
9.819 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
133.277 |
125.647 |
|
|
|
|
|
|
TOTAL |
|
150.702 |
144.478 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
2.693 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
4.693 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
5.054 |
|
|
2] Unsecured Loans |
|
|
16.440 |
|
|
TOTAL BORROWING |
|
|
21.494 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
26.187 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
16.086 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.090 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
26.020
|
|
|
Sundry Debtors |
|
|
45.115
|
|
|
Cash & Bank Balances |
|
|
12.365
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
8.981
|
|
Total
Current Assets |
|
|
92.481
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
65.672 |
|
|
Other Current Liabilities |
|
|
14.931
|
|
|
Provisions |
|
|
1.877
|
|
Total
Current Liabilities |
|
|
82.480
|
|
|
Net Current Assets |
|
|
10.001
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.010 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
26.187 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
248.319 |
239.791 |
202.252 |
|
|
|
Other Income |
4.892 |
4.382 |
3.698 |
|
|
|
TOTAL (A) |
253.211 |
244.173 |
205.950 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
246.910 |
|
201.293 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
6.301 |
5.547 |
(Including
Financial Expenses) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.779 |
1.153 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.522 |
4.394 |
4.657 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.921 |
2.818 |
3.023 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
1.601 |
1.576 |
1.634 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.549 |
0.460 |
0.512 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.052 |
1.116 |
1.122 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
3.416 |
1.818 |
1.263 |
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
43.208 |
27.216 |
17.006 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.26 |
5.58 |
5.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.42
|
0.46 |
0.54 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.64
|
0.66 |
0.81 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.06
|
1.09 |
1.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.27 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
8.04
|
12.25 |
4.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12
|
1.15 |
1.12 |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
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) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
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 |
LITIGATION DETAILS
|
HIGH COURT OF
GUJARAT COMPANY PETITION No. 304 of
2013 |
||||||||||||||||||||||||||||||||||||||||||||||
|
Status:
PENDING ( Converted from : O/ST/3171/2013
) CCIN No: 001058201300304 Next Listing Date: 16/04/2014 Coram: - HONOURABLE
MR.JUSTICE R.M.CHHAYA |
||||||||||||||||||||||||||||||||||||||||||||||
|
S.NO. |
Name of the
Petitioner |
Advocate On
Record |
||||||||||||||||||||||||||||||||||||||||||||
|
1 |
VIRAVA CHEMICALS |
MR PAVAN S GODIAWALA for: Petitioner(s) |
||||||||||||||||||||||||||||||||||||||||||||
|
S.NO. |
Name of the
Respondant |
Advocate On
Record |
||||||||||||||||||||||||||||||||||||||||||||
|
1 |
FAIRMATE CHEMICALS PRIVATE LIMITED |
NOTICE SERVED BY DS for :Respondent(s) |
||||||||||||||||||||||||||||||||||||||||||||
|
Presented On : 28/11/2013
Registered
On : 10/12/2013 Bench Category : -- District : AHMEDABAD Case Originated From: THROUGH ADVOCATE Listed : 1 times Stage Name : NOTICE
RETURNABLE MATTERS
Office Details |
||||||||||||||||||||||||||||||||||||||||||||||
|
S. No |
Filing Date |
Document Name |
Advocate Name |
Court Fee on
Document |
Document Details |
|||||||||||||||||||||||||||||||||||||||||
|
1 |
28/11/2013 |
VP FILED IN MAIN MATTER |
MR PAVAN S GODIAWALA ADVOCATE |
0 |
MR PAVAN S
GODIAWALA(2936) for P:1 |
|||||||||||||||||||||||||||||||||||||||||
|
2 |
28/11/2013 |
VAKALATNAMA |
MR MANISH J SHAH ADVOCATE |
5 |
MR MANISH J
SHAH(1320) for P:1 |
|||||||||||||||||||||||||||||||||||||||||
|
3 |
28/11/2013 |
MEMO OF APPEAL/PETITION/SUIT |
MR MANISH J SHAH ADVOCATE |
50 |
MR MANISH J SHAH(1320),
for P:1 |
|||||||||||||||||||||||||||||||||||||||||
|
4 |
28/11/2013 |
MEMO OF APPEAL/PETITION/SUIT |
MR PAVAN S GODIAWALA ADVOCATE |
100 |
MR PAVAN S
GODIAWALA(2936), for P:1 |
|||||||||||||||||||||||||||||||||||||||||
|
5 |
27/12/2013 |
AFFIDAVIT OF DS |
MR PAVAN S GODIAWALA ADVOCATE |
0 |
MR PAVAN S
GODIAWALA(2936) for P:1 |
|||||||||||||||||||||||||||||||||||||||||
|
Court
Proceedings
Available Orders
|
||||||||||||||||||||||||||||||||||||||||||||||
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10278126 |
08/03/2011 |
770,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
B09526617 |
|
2 |
10311757 |
12/03/2012 * |
25,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
B36436921 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
22.420 |
24.632 |
|
SHORT TERM BORROWINGS |
|
|
|
Kotak Mahindra Bank – Overdrawn |
21.462 |
36.759 |
|
Kotak Mahindra Bank – Cash Credit |
8.761 |
3.672 |
|
HDFC Bank Limited |
0.000 |
0.943 |
|
|
|
|
|
Total |
52.643 |
66.006 |
FIXED ASSETS:
· Computer and Printer
Furniture
and Fixture
Machinery
Lab
Equipment
Vehicles
Telephone
Instrument
Electrical
Installation
Factory
Building
Multimedia
Projector
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. 62.41 |
|
|
1 |
Rs. 102.54 |
|
Euro |
1 |
Rs. 85.20 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.