MIRA INFORM REPORT
|
Report No. : |
313747.2 |
|
Report Date : |
02.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
LINEN ART PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Tex Centre Premises Society, Gala 202, H Wing, 26/A Chandivali Road,
Opposite Saki Vihar Ro Sakinaka, Mumbai-400072, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
27.12.2013 |
|
|
|
|
Com. Reg. No.: |
11-251465 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74120MH2013PTC251465 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of manufacturing, finishing and in
any manner processing, complete or in parts, all kinds of garments, made ups,
all kind of wearing, apparel made from cotton, wool, rayon, polyster, blended
polyster, silk or any types of fabric or textile, including all types of
hosiery goods, Handicraft and articraft. |
|
|
|
|
No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the company was incorporated during the year 2003 the
company will commence its commercial operation from June 2015. It is an
established company having moderate track record. Mr. Shitanshu Vora Director provided information As per the available financial of 2014, the company has recorded huge
pre-operative expenses which has resulted into accumulated losses As per Registrar of Companies the status of the company is shown as
active. Payment terms are unknown. The company can be considered for business dealings on a 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 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
Not Available
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. Shitanshu Vora |
|
Designation : |
Director |
|
Contact No.: |
91-9821156244 |
|
Date : |
24.03.2015 |
LOCATIONS
|
Registered Office : |
Tex Centre Premises Society, Gala 202, H Wing, 26/A Chandivali Road,
Opposite Saki Vihar Ro Sakinaka, Mumbai-400072, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9821156244 (Mr. Shitanshu Vora) 91-9930460374 (Mr. Vimal Goneka) 91-7506030951 (Mr. Shreshth Toteja) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Shitanshu Bipin Vora |
|
Designation : |
Director |
|
Address : |
602 A, Shiv Sadan,1st
Floor, Dr. B A Road, Matunga, Mumbai, 400019, Maharashtra, India |
|
Date of Birth/Age : |
20.09.1975 |
|
Date of Appointment : |
31.01.2014 |
|
DIN No.: |
00054986 |
|
|
|
|
Name : |
Mr. Nimish Sanghavi |
|
Designation : |
Director |
|
Address : |
7/192-C, Swaroop Nagar(Near Gastro Lever Hospital), Kanpur, Kanpur, 208002, Uttar Pradesh, India |
|
Date of Birth/Age : |
04.11.1967 |
|
Date of Appointment : |
31.01.2014 |
|
DIN No.: |
06661142 |
|
|
|
|
Name : |
Mr. Shreshth Toteja |
|
Designation : |
Director |
|
Address : |
29 B, Sunder Apartment,
Pachim Vihar,, Delhi, 110087, Delhi, India |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
07007538 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Shitanshu Bipin Vora |
5000 |
50.00 |
|
Nimish Sanghavi |
5000 |
50.00 |
|
Total |
10000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing, finishing and in
any manner processing, complete or in parts, all kinds of garments, made ups,
all kind of wearing, apparel made from cotton, wool, rayon, polyster, blended
polyster, silk or any types of fabric or textile, including all types of
hosiery goods, Handicraft and articraft. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
|
|
Products : |
Fabrics |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30/60/90 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30/60/90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
15 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Ashar and Company Chartered Accountants |
|
Address : |
209/210, Damji Shamji Trade Centre,Kirol Road, Vidyavihar(West)
Mumbai-400086, Maharashtra, India |
|
Tel. No.: |
91-22-25020996/25090996 |
|
E-Mail : |
|
|
PAN No.: |
AAPFA2573H |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
0.100 |
|
(b) Reserves & Surplus |
|
|
(0.215) |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
|
(0.115) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term
provisions |
|
|
0.000 |
|
Total Non-current
Liabilities (3) |
|
|
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
55.500 |
|
(b) Trade
payables |
|
|
0.000 |
|
(c) Other
current liabilities |
|
|
4.276 |
|
(d) Short-term
provisions |
|
|
0.000 |
|
Total Current
Liabilities (4) |
|
|
59.776 |
|
|
|
|
|
|
TOTAL |
|
|
59.661 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
|
|
0.110 |
|
(ii)
Intangible Assets |
|
|
0.000 |
|
(iii)
Capital work-in-progress |
|
|
4.724 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.096 |
|
(d) Long-term Loan and Advances |
|
|
0.000 |
|
(e) Other
Non-current assets |
|
|
0.020 |
|
Total Non-Current
Assets |
|
|
4.950 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
0.000 |
|
(c) Trade
receivables |
|
|
0.000 |
|
(d) Cash
and cash equivalents |
|
|
0.355 |
|
(e)
Short-term loans and advances |
|
|
54.356 |
|
(f) Other
current assets |
|
|
0.000 |
|
Total
Current Assets |
|
|
54.711 |
|
|
|
|
|
|
TOTAL |
|
|
59.661 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2014 |
|
|
|
|
|
|
|
|
SALES |
|
|
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
NA |
|
|
|
|
|
|
|
|
PROFIT /(LOSS)
BEFORE TAX |
|
|
(0.312) |
|
|
|
|
|
|
|
Less |
TAX |
|
|
(0.096) |
|
|
|
|
|
|
|
|
PROFIT /(LOSS)
AFTER TAX |
|
|
(0.216) |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
(21.59) |
Expected Sales (2014-15) : Rs.50.000 million
The above information has been parted by Mr. Shitanshu Vora (Director)
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2014 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(0.57) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
2.71 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
|
(482.61) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
0.92 |
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 year |
Yes |
|
12] |
Profitability for last One year |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
Yes |
|
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 |
Yes |
|
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 |
Observation Details
|
Name Board |
Not Sighted |
|
Landmark |
Saki Naka Road |
|
Location |
Difficult |
|
Total floors of
the building |
3 |
|
Subject Situated
on |
1st
Floor |
|
Locality |
Residential |
|
Area of Premises |
650 Sq. Ft. |
|
Area |
Downmarket |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
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.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
|
11 |
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.