|
Report Date : |
24.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
ARTEK EXPORTS LLP |
|
|
|
|
Formerly Known
As : |
ARTEK EXPORT PRIVATE LIMITED (U24110MH1991PTC063138) |
|
|
|
|
Registered
Office : |
Marol Bhavan, Block No. 301,3rd Floor, Marol Coop. Indust.
Es, Tate Limited, Marol Cooperative Industrial Estate Limited, Andheri East, Mumbai -
400059, |
|
|
|
|
Country : |
|
|
|
|
|
Financial (as
on) : |
31.03.2013 (ARTEK EXPORT PRIVATE LIMITED ) |
|
|
|
|
Date of
Incorporation : |
24.10.2011 |
|
|
|
|
LLPIN: |
AAA-6653 |
|
|
|
|
Total Obligation
of Contribution : |
Rs. 5.500 Millions |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC1123A [ Artek Exports Private Limited ] |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business
: |
Exporter, Importer And Dealer of all types Chemicals Including
Chemicals, Organic Chemicals, Inorganic Chemicals, Heavy Chemicals, Rubber Chemicals
Organic, Inorganic. |
|
|
|
|
No. of Employees
: |
Management Non-Cooperative |
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject saw established during the year 2006 as a private limited with
the name “Artek Exports Private Limited and later during 2011 it got
converted into limited liability partnership concern. It is an established limited liability partnership concern having
moderate track record. Management remain non-co-operative denied to disclose information. Financials are not available. However, trade relations ae reported as fair. Business is active.
Payment terms are unknown. The limited liability partnership concern 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 – 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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 DENIED BY
MANAGEMENT NON-COOPERATIVE
91-22-40320000
LOCATIONS
|
Registered Office : |
Marol Bhavan, Block No. 301,3rd Flr, Marol Coop. Indust.
Es, Tate Limited, Marol Cooperative Industrial Estate Limited, Andheri East, Mumbai -
400059, Maharashtra, India |
|
Tel. No.: |
91-22-40320000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
PARTNERS
|
Name : |
Mr. Anish Rajendra Goenka |
|
Designation : |
Designated Partner |
|
Address : |
20th Vianayak Kunj, 12th Raod, J. V. P. D. Scheme,
Vile Parle (West), Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
04.06.1977 |
|
Date of Appointment : |
24.10.2011 |
|
DPIN No.: |
5008335 |
|
PAN No.: |
AABPG5555H |
|
Passport No.: |
Z1786316 |
|
|
|
|
Name : |
Ms. Anuj Sushil Goenka |
|
Designation : |
Partner |
|
Address : |
20th Vianayak Kunj, 12th Raod, J. V. P. D.
Scheme, Vile Parle (West), Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
03.12.1976 |
|
Date of Appointment : |
24.10.2011 |
|
DPIN No.: |
5009199 |
|
PAN No.: |
AABPG5554G |
|
Passport No.: |
F8658491 |
|
|
|
|
Name : |
Mr. Amit Rajendra Goenka |
|
Designation : |
Partner |
|
Address : |
20th Vianayak Kunj, 12th Raod, S. M. Road, J. V.
P. D. Scheme, Vile Parle (West), Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
06.12.1974 |
|
Date of Appointment : |
24.10.2011 |
|
PAN No.: |
AACPG6939L |
|
|
|
|
Name : |
Mrs. Anjana Sunil Goenka |
|
Designation : |
Partner |
|
Address : |
20th Vianayak Kunj, 12th Raod, S. M. Road, J. V.
P. D. Scheme, Vile Parle (West), Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
10.08.1969 |
|
Date of Appointment : |
24.10.2011 |
|
PAN No.: |
AACPG8582F |
|
|
|
|
Name : |
Mrs. Asha Rajendra Goenka |
|
Designation : |
Partner |
|
Address : |
20th Vianayak Kunj, 12th Raod, S. M. Road, J. V.
P. D. Scheme, Vile Parle (West), Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
21.02.1954 |
|
Date of Appointment : |
24.10.2011 |
|
PAN No.: |
AACPG691N |
|
|
|
|
Name : |
Mrs. Payal Amit Goenka |
|
Designation : |
Partner |
|
Address : |
20th Vianayak Kunj, 12th Raod, S. M. Road, J. V.
P. D. Scheme, Vile Parle (West), Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
01.02.1977 |
|
Date of Appointment : |
24.10.2011 |
|
PAN No.: |
AABPA6141R |
|
|
|
|
Name : |
Mr. Sejal Vishal Goenka |
|
Designation : |
Partner |
|
Address : |
20th Vianayak Kunj, 12th Raod, S. M. Road, J. V.
P. D. Scheme, Vile Parle (West), Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
22.10.1972 |
|
Date of Appointment : |
24.10.2011 |
|
PAN No.: |
ACBPG2329K |
|
|
|
|
Name : |
Mr. Suni Beniprasad Goenka |
|
Designation : |
Partner |
|
Address : |
20th Vianayak Kunj, 12th Raod, S. M. Road, J. V.
P. D. Scheme, Vile Parle (West), Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
19.06.1967 |
|
Date of Appointment : |
24.10.2011 |
|
PAN No.: |
AACPG7980R |
|
|
|
|
Name : |
Mrs. Smriti Anuj Goenka |
|
Designation : |
Partner |
|
Address : |
20th Vianayak Kunj, 12th Raod, S. M. Road, J. V.
P. D. Scheme, Vile Parle (West), Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
19.09.1976 |
|
Date of Appointment : |
24.10.2011 |
|
PAN No.: |
AAGPJ0385H |
|
|
|
|
Name : |
Mr. Sushil Beniprasad Goenka |
|
Designation : |
Partner |
|
Address : |
20th Vianayak Kunj, 12th Raod, S. M. Road, J. V.
P. D. Scheme, Vile Parle (West), Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1951 |
|
Date of Appointment : |
24.10.2011 |
|
PAN No.: |
AACPG6940P |
|
|
|
|
Name : |
Mrs. Akansha Sunil Gpenka |
|
Designation : |
Partner |
|
Address : |
20th Vianayak Kunj, 12th Raod, S. M. Road, J. V.
P. D. Scheme, Vile Parle (West), Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
24.10.2011 |
|
Date of Appointment : |
27.07.1991 |
|
PAN No.: |
AXUPG5148G |
OBLIGATION OF
CONTRIBUTION
|
Names of Shareholders |
No. of Shares |
|
Anish Rajendra Goenka |
5258 |
|
Anuj Sushil Goenka |
4400 |
|
Akansha Sunil Gpenka |
5490 |
|
Amit Rajendra Goenka |
5225 |
|
Anjana Sunil Goenka |
5472 |
|
Asha Rajendra Goenka |
4000 |
|
Payal Amit Goenka |
5258 |
|
Sejal Vishal Goenka |
4774 |
|
Suni Beniprasad Goenka |
5480 |
|
Smriti Anuj Goenka |
5258 |
|
Sushil Beniprasad Goenka |
4385 |
|
TOTAL |
55000 |
BUSINESS DETAILS
|
Line of Business : |
Exporter, Importer And Dealer of all types Chemicals Including Chemicals,
Organic Chemicals, Inorganic Chemicals, Heavy Chemicals, Rubber Chemicals
Organic, Inorganic. |
GENERAL INFORMATION
|
No. of Employees : |
Management Non-Cooperative |
|
|
|
|
Bankers : |
Citibank N. A., Trent House, 2nd Floor, G Block, Plot No. C60, Bandra
Kurla Complex, Bandra (E), Mumbai- 400051, Maharashtra, India |
|
|
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
Not Available |
CAPITAL STRUCTURE
Total Obligation of Contribution: Rs. 5.500 Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ARTEK EXPORTS PRIVATE LIMITED
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
5.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
201.457 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
206.957 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
1.758 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
208.715 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
29.304 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
21.581 |
|
|
Sundry Debtors |
|
|
52.155 |
|
|
Cash & Bank Balances |
|
|
6.876 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
99.783 |
|
Total
Current Assets |
|
|
180.395 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.374 |
|
|
Provisions |
|
|
0.610 |
|
Total
Current Liabilities |
|
|
0.984 |
|
|
Net Current Assets |
|
|
179.411 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
208.715 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL INCOME |
|
|
0.556 |
|
|
|
|
|
|
|
|
|
EXPENCES |
|
|
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
NA |
|
Note : Sole Proprietary and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last one years |
Yes |
|
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 |
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
Yes |
|
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 |
10386663 |
07/11/2012 |
30,000,000.00 |
Citibank N.A |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI-400051, MAHARASHTRA , INDIA |
L00377739 |
* Date of charge modification
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. 60.18 |
|
|
1 |
Rs. 102.68 |
|
Euro |
1 |
Rs. 81.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIV |
|
|
|
|
Analysis Done by
: |
PRT |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--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.