MIRA
INFORM REPORT
|
Report Date : |
24.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
BRIJLAXMI PAPER PRODUCTS PRIVATE LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
27.09.2012 |
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Com. Reg. No.: |
21-201254 (New) 55-242860 (Old) |
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Capital
Investment / Paid-up Capital : |
Rs.10.000 Millions |
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CIN No.: [Company Identification No.] |
U21098WB2012PTC201254 (New) U21098DL2012PLC242860 (Old) |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Paper Products |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 40000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Even though the company was incorporated on 27th September
2012, it has commenced its business operations from February 2013. It is having
track record. Mr. Sushil, Accounts executive has provided general information to us
and claimed that company has achieved sales turnover of Rs. 400.00 Millions
for the year 2013-14 which is not verified. However, trade relations are improving. Business is active. Payments
terms are unknown. The company can be considering 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 – 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 |
|
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.
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
|
Name : |
Mr. Sushil |
|
Designation : |
Accountant Department/Executive |
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Contact No.: |
91-129-2577700 |
|
Date : |
18.09.2014 |
LOCATIONS
|
Registered/Head Office : |
Shrachi Tower, 686, Anandapur, E.M. Bypass, R B Connector Junction,
Kolkata-700107, West Bengal, India |
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Tel. No.: |
91-129-2577700 91-33-39843984 |
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Fax No.: |
91-129-2577739 |
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E-Mail : |
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Admin Office : |
303 DLF Commercial Centre, 3rd Floor,
Savitri Cinema Complex, Greater Kailash Part II, New Delhi – 110048, India |
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Tel. No.: |
91-11-41011582 |
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Factory : |
14/3, Mathura Road, Faridabad - 121003, India |
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Branches : |
Located At: - ·
Faridabad ·
Delhi ·
Gujarat ·
Haryana ·
Punjab ·
Himachal Pradesh ·
Rajasthan ·
Mumbai ·
Chhattisgarh |
DIRECTORS
As on: 10.10.2013
|
Name : |
Mr. Rahul Todi |
|
Designation : |
Director |
|
Address : |
2, 2B, Saraf Bose Road, Kolkata-700020, West Bwngal, India |
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Date of Birth/Age : |
12.09.1976 |
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Date of Appointment : |
27/09/2012 |
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DIN No.: |
00080441 |
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Name : |
Mr. Gautam Tiwari |
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Designation : |
Director |
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Address : |
Shrachi, Greewood Sonata, H1, G11, New Townraha Rhat, Kolkata-700157,
West Bengal,India |
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Date of Birth/Age : |
20.01.1968 |
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Date of Appointment : |
27/09/2012 |
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DIN No.: |
02417641 |
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Name : |
Mr. Shashank Agarwal |
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Designation : |
Director |
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Address : |
CK 276, Sector II, Salt Lake City, Kolkata – 700091, Kolkata, India |
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Date of Birth/Age : |
31.10.1990 |
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Date of Appointment : |
15/12/2012 |
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DIN No.: |
02797032 |
KEY EXECUTIVES
|
Name : |
Mr. Sushil |
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Designation : |
Accountant Department |
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Name : |
P. Sarawagi and Associates |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 10.10.2013
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Rahul Todi |
175,000 |
17.50 |
|
Mrs. Sunita Todi |
170,000 |
17.00 |
|
Continental Packagings Limited, India |
170,000 |
17.00 |
|
Nadia Pupl and Board Limited, India |
160,000 |
16.00 |
|
Rahul Todi (HUF) |
20,000 |
2.00 |
|
Mrs. Sujata Todi |
100,000 |
10.00 |
|
Bengal Tools Limited, India |
105,000 |
10.50 |
|
Mrs. Chitralekha Todi |
100,000 |
10.00 |
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|
|
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Total |
1,000,000 |
100.00 |
As on: 31.03.2014
List of Allotters:
|
Names of Shareholders |
No. of Shares |
|
|
|
|
Mr. Shrawan Kumar Todi (Industrialist) |
605,000 |
|
Mr. Shrawan Kumar Todi, Karta of Shrawan Kumar Ravi Todi (HUF)
(Industrialist) |
1,100,000 |
|
Mr. Ravi Todi, Karta of Ravi Todi (HUF)-(Industrialist) |
700,000 |
|
GNB Logistics L.L.P |
1,400,000 |
|
Nadia Pulp and Board Limited, India (Public Limited Company) |
195,000 |
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|
|
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Total |
4,000,000 |
Equity Share Break up (Percentage of Total Equity)
As on: 31.12.2013
|
Category |
|
Percentage |
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Bodies corporate |
|
43.50 |
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Directors or relatives of directors |
|
39.50 |
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Other top fifty shareholders |
|
17.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Paper Products |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Europe |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
Cash, Advance Payments, L/C and Credit |
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Purchasing : |
Cash, Advance Payments, L/C and Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
·
Bank of Baroda, Brabourne Road Branch, 4,
Brabourne Road, Kolkata – 700001, West Bengal, India ·
ICICI Bank, Kolkata , India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Manoj Prakash Associates Chartered Accountants |
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Address : |
A-48, LGF, Dayanand Colony, Lajoat Nagar – IV, Delhi – 110024, India |
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Tel No : |
91-11-26432756 |
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Mob. No : |
9810346940 |
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Email : |
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PAN : |
AABFM1844R |
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Related Parties : |
·
Bengal Tools Limited, India ·
Juhi Investment Private Limited, India ·
Nandia Pulp and Board Limited, India ·
Ajanta Offset and Packaging Limited, India |
CAPITAL STRUCTURE
As on: 31.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
|
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
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|
10.000 |
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(b) Reserves & Surplus |
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|
0.000 |
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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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|
10.000 |
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(3) Non-Current
Liabilities |
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(a) long-term
borrowings |
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30.040 |
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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 |
|
|
0.125 |
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Total Non-current
Liabilities (3) |
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30.165 |
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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 |
|
|
27.313 |
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(c)
Other current liabilities |
|
|
20.025 |
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(d) Short-term
provisions |
|
|
1.289 |
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Total Current
Liabilities (4) |
|
|
48.627 |
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|
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TOTAL |
|
|
88.792 |
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II.
ASSETS |
|
|
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|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible
assets |
|
|
0.000 |
|
(ii)
Intangible Assets |
|
|
0.000 |
|
(iii)
Capital work-in-progress |
|
|
49.348 |
|
(iv) Intangible assets under development |
|
|
0.000 |
|
(b) Non-current
Investments |
|
|
0.000 |
|
(c) Deferred tax
assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
3.105 |
|
(e) Other
Non-current assets |
|
|
1.422 |
|
Total Non-Current
Assets |
|
|
53.875 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
26.254 |
|
(c)
Trade receivables |
|
|
0.000 |
|
(d) Cash
and cash equivalents |
|
|
2.536 |
|
(e)
Short-term loans and advances |
|
|
6.127 |
|
(f)
Other current assets |
|
|
0.000 |
|
Total
Current Assets |
|
|
34.917 |
|
|
|
|
|
|
TOTAL |
|
|
88.792 |
PROFIT & LOSS
ACCOUNT
|
Particulars |
|
31.03.2014 |
31.03.2013 |
|
Sales Turnover (Approximately) |
|
400.000 |
Not Available |
|
|
|
|
|
The above information has been parted by Mr. Sushil (Accounts
Department)
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2013 |
|
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Debt Equity Ratio (Total Debt/Networth) |
|
|
|
3.00 |
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Current Ratio (Current Asset/Current Liability) |
|
|
|
0.72 |
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 one years |
Yes |
|
12] |
Profitability for last one 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 |
Yes |
|
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 |
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 |
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 |
Note:-Registered Office of the company has been shifted from “A-48, LGF, Dayanand Colony, Lajpat Nagar-IV, New Delhi-110024, Delhi, India” to the present address w.e.f. 28.02.2014.
GENERAL PROFILE OF
COMPANY: -
The company has been established on 27th September 2012. The Company is small and medium sized company as defined in the general instructions in respect of accounting standards notified under companies Act 1956. Accounting the company has complied with accounting standards as applicable to a Small & Medium Sized Company.
FINANCIAL RESULTS:-
Company has not started the commercial production during the year. All the expenses incurred by the company before the start of production have been capitalized as capital Work on Progress and Pre-operative expenditure. Your Director are hopeful for better business in coming year.
UNSECURED
LOAN
(Rs. In Millions)
|
|
|
As on 31.03.2013 |
|
Long Term
Borrowing |
|
|
|
Loan and
Advances from related parties |
|
|
|
Nadia Pulp and Board Limited |
|
7.450 |
|
Shrawan Kumar Todi |
|
0.850 |
|
Juhi Investment Private Limited |
|
1.600 |
|
|
|
|
|
Other loan and
advances |
|
|
|
Kalpp Vyapaar Private Limited |
|
3.000 |
|
|
|
|
|
Total |
|
12.900 |
INDEX OF CHARGES:-
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10519626 |
09/08/2014 |
1,083,855.00 |
MAGMA FINCORP LIMITED |
MAGMA HOUSE, 24 PARK STREET, KOLKATA, West Bengal |
C20343430 |
|
2 |
10510176 |
08/07/2014 |
9,849,000.00 |
MAGMA FINCORP LIMITED |
MAGMA HOUSE, 24 PARK STREET, KOLKATA, West Bengal |
C12123485 |
|
3 |
10457220 |
07/09/2013 |
4,738,750.00 |
MAGMA FINCORP LIMITED |
MAGMA HOUSE, 24 PARK STREET, KOLKATA, West Bengal |
B88380167 |
|
4 |
10438275 |
03/07/2013 |
2,631,250.00 |
MAGMA FINCORP LIMITED |
MAGMA HOUSE, 24 PARK STREET, KOLKATA, West Bengal |
B80223167 |
|
5 |
10438272 |
08/06/2013 |
12,630,000.00 |
MAGMA FINCORP LIMITED |
MAGMA HOUSE, 24 PARK STREET, KOLKATA, West Bengal |
B80222433 |
|
6 |
10408502 |
02/07/2014 * |
188,400,000.00 |
BANK OF BARODA |
BRABOURNE ROAD BRANCH, 4, BRABOURNE ROAD, KOLKATA |
C14099352 |
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.61.05 |
|
|
1 |
Rs.99.55 |
|
Euro |
1 |
Rs.78.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
MTN |
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 |
YES |
|
--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.