MIRA INFORM REPORT
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Report No. : |
319542 |
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Report Date : |
25.04.2015 |
IDENTIFICATION DETAILS
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Name : |
SHAH COTTONS PRIVATE LIMITED |
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Registered
Office : |
13/14, 2nd Floor, 268/270,
Chandresh Bhavan, Shahid Bhagat Singh Road, Fort, Mumbai – 400001,
Maharashtra |
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Tel. No.: |
91-22-23525262/ 22644387 |
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Country : |
India |
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Financials (as
on) : |
Not Available |
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Date of
Incorporation : |
14.03.2014 |
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Com. Reg. No.: |
11-254313 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
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CIN No.: [Company Identification
No.] |
U17296MH2014PTC254313 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS79862G |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of all kinds of Fibers, Yarn and Fabrics. |
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No. of Employees
: |
2 (Approximately) |
RATING & COMMENTS
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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 incorporated during 14.03.2014, and it is
establishing itself gradually. Mr. Ankit, Accountant has provided general information to us and
claimed that company has started its commercial operation from May 2014. However, trade relations are improving. Business is active. Payments
are reported to be unknown. The company can be considered for business dealings 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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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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 |
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
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Name : |
Mr. Ankit |
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Designation : |
Accountant |
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Contact No.: |
91-22-22644387 |
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Date : |
24.04.2015 |
LOCATIONS
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Registered Office : |
13/14, 2nd Floor, 268/270,
Chandresh Bhavan, Shahid Bhagat Singh Road, Fort, Mumbai – 400001,
Maharashtra, India |
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Tel. No.: |
91-22-23525262/ 22644387 |
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Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
AS ON 21.02.2014
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Name : |
Mrs. Swatiben Devangbhai Shah |
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Designation : |
Director |
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Address : |
3A, Dev Ashish, Peddar Road, Mumbai – 400026, Maharashtra, India |
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Date of Birth/Age : |
30.03.1956 |
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Date of Appointment : |
14.03.2014 |
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DIN No.: |
02811613 |
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Other Directorship :
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Name : |
Mr. Manish Mahendrabhai Shah |
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Designation : |
Additional Director |
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Address : |
33, 3rd Floor, Sumit, Behind Fun Republic, Opposite Amarplash Bunglow,
Satellite, Ahmedabad – 380015, Gujarat, India
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Date of Birth/Age : |
07.03.1966 |
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Date of Appointment : |
16.06.2014 |
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DIN No.: |
00183446 |
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Other Directorship :
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KEY EXECUTIVES
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Name : |
Mr. Ankit |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.02.2014
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Swatiben Devangbhai Shah |
5000 |
50.00 |
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Karan Devang Shah |
5000 |
50.00 |
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Total |
10000 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of all kinds of Fibers, Yarn and Fabrics. |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer
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No. of Employees : |
2 (Approximately) |
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Bankers : |
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Auditors : |
Not Available |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW BUSINESS
LOCAL AGENCY FURTHER INFORMATION
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Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
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1] |
Year of Establishment |
Yes |
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2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
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4] |
Premises details |
No |
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5] |
Type of Business |
Yes |
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6] |
Line of Business |
Yes |
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7] |
Promoter's background |
Yes |
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8] |
No. of employees |
Yes |
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9] |
Name of person contacted |
Yes |
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10] |
Designation of contact person |
Yes |
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11] |
Turnover of firm for last three years |
No |
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12] |
Profitability for last three years |
No |
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13] |
Reasons for variation <> 20% |
-- |
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14] |
Estimation for coming financial year |
No |
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15] |
Capital in the business |
Yes |
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16] |
Details of sister concerns |
No |
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17] |
Major suppliers |
No |
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18] |
Major customers |
No |
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19] |
Payments terms |
Yes |
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20] |
Export / Import details (if applicable) |
No |
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21] |
Market information |
-- |
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22] |
Litigations that the firm / promoter involved in |
-- |
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23] |
Banking Details |
Yes |
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24] |
Banking facility details |
No |
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25] |
Conduct of the banking account |
-- |
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26] |
Buyer visit details |
-- |
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27] |
Financials, if provided |
No |
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28] |
Incorporation details, if applicable |
Yes |
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29] |
Last accounts filed at ROC |
No |
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30] |
Major Shareholders, if available |
Yes |
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31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
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32] |
PAN of Proprietor/Partner/Director, if available |
No |
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33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
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34] |
External Agency Rating, if available |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR 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 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 63.40 |
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|
1 |
Rs. 95.42 |
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Euro |
1 |
Rs. 68.49 |
INFORMATION DETAILS
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Information
Gathered by : |
DIP |
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
MTN |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome
financial difficulties seems comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit
not recommended |
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-- |
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.