MIRA
INFORM REPORT
|
Report Date : |
24.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
AGETI TEXTILES PRIVATE LIMITED |
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Registered
Office : |
Basement No. 17, Vikas Centre, B Wing, 106, |
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Country : |
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Date of
Incorporation : |
21.08.2013 |
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Com. Reg. No.: |
11-247314 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U17291MH2013PTC247314 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Textiles. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
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 and establishing itself gradually. Mr. C.A. Kutty (Finance Department) has confirmed that the company
will start its business activities from November, 2015. Business is active as per the status shown in the registrar of
companies. Payment terms are unknown. The company can be considered for business dealing on 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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
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 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a second
straight year of sub-5 % growth – the worst slowdown in more than a quarter of
a century. The data was below an official estimate of 4.9 % annual growth and
compared with 4.5 % in the last fiscal year. However, the current account
deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product,
in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A
sharp fall in gold imports due to restrictions on overseas purchases and muted
import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
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 (PARTIAL DETAILS)
|
Name : |
Mr. C A Kutty |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-42766666 |
|
Date : |
16.07.2014 |
LOCATIONS
|
Registered Office / Branch Office : |
Basement No. 17, Vikas Centre, B Wing, 106, S. V. Road,
Santacruz (West), Mumbai – 400054, Maharashtra, India |
|
Tel. No.: |
91-22-26616400 / 42766666 |
|
Fax No.: |
Not Available |
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E-Mail : |
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Location: |
Owned |
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Factory : |
Shirpur, Maharashtra, India |
DIRECTORS
|
Name : |
Mr. Satish Kumar Bansal |
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Designation : |
Director |
|
Address : |
45, Govind Mohalla, Ward No 13, Kaman, TH. Kaman, District Bharatpur,
Kaman - 321022 Rajasthan, India |
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Date of Birth/Age : |
24.09.1973 |
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Date of Appointment : |
25.08.2013 |
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DIN No.: |
06637687 |
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Name : |
Mr. Chintan Amrish Patel |
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Designation : |
Director |
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Address : |
Kushal Bungalow, Pallavi Beach Agnel Society, Ruia Park, Juhu, Mumbai
– 400049, Maharashtra, India |
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Date of Birth/Age : |
21.02.1977 |
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Date of Appointment : |
21.08.2013 |
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DIN No.: |
00482043 |
KEY EXECUTIVES
|
Name : |
Mr. C A Kutty |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS
AS ON 20.07.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Chintan Amrish Patel |
5000 |
50.00 |
|
Tapan Mukesh Patel |
5000 |
50.00 |
|
Total |
10000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Textiles. |
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Imports : |
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Products : |
Machinery |
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Countries : |
·
China ·
Japan ·
Germany |
GENERAL INFORMATION
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No. of Employees : |
Information denied by management |
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Bankers : |
Bank of Baroda, 10/12 Samachar Marg, Fort Mumbai, Mumbai - 400001,
Maharashtra, India |
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Banking Relations
: |
-- |
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Auditors : |
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|
Name : |
Shrikesh V. Rathi and Company Chartered Accountants |
|
Address : |
Shirpur, Maharashtra, India |
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Associates/Subsidiaries [Confirmed by Management] : |
·
Deesan Cotex Private Limited ·
Param Tex Fab Private Limited ·
Laxmi Textiles Private Limited ·
Mahacot Textiles Private Limited ·
Krushna Cotex Private Limited ·
Dweta Garments Private Limited ·
Priyadarshini Sahakari Soot Girani Limited ·
Deesan Texfab Private Limited ·
Kashyap Weaves Private Limited ·
Atri Textiles Private Limited ·
Jamadagni Textiles Private Limited ·
Parsu Textiles Private Limited ·
Amethyst Cotex Private Limited ·
Valmiki Textiles Private Limited ·
Maandu Textiles Private Limited ·
Narad Textiles Private Limited ·
Krish Knitting Private Limited ·
Marichi Textiles Private Limited ·
Kutsa Cotex Private Limited ·
Saubhagya Cotex Private Limited ·
Pulastya Textiles Private Limited ·
Gautama Cotex Private Limited ·
Durvasa Textiles Private Limited ·
Angiras Textiles Private Limited ·
Pulaha Textiles Private Limited ·
Vikas Cotex Private Limited ·
Surabhi Cotex Private Limited ·
Kanchan Cotex Private Limited ·
Varah Texfab Private Limited ·
Arogya Textiles Private Limited ·
Vamdev Textiles Private Limited |
CAPITAL STRUCTURE
AS ON 20.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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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]
NEW BUSINESS
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 |
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3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
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5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
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9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
Yes |
|
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 |
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 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10497111 |
02/04/2014 * |
39,236,000.00 |
BANK OF BARODA |
10/12 SAMACHAR MARG,
FORT MUMBAI, MUMBAI - 400001, MAHARASHTRA, INDIA |
C09501321 |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.60.18 |
|
|
1 |
Rs.102.68 |
|
Euro |
1 |
Rs.81.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
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.