MIRA INFORM REPORT

 

 

Report No. :

337759

Report Date :

20.08.2015

 

IDENTIFICATION DETAILS

 

Name :

AASMAN MANAGEMENT SERVICES PRIVATE LIMITED

 

 

Registered Office :

“The International”, 5th Floor, 16, New Marine Lines Cross Road No.1, Churchgate, Mumbai – 400020, Maharashtra

Tel. No.:

91-22-22033992

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

29.08.2006

 

 

Com. Reg. No.:

11-164144

 

 

Capital Investment / Paid-up Capital :

Rs.0.300 Million

 

 

CIN No.:

[Company Identification No.]

U93090MH2006PTC164144

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMA32806E

 

 

PAN No.:

[Permanent Account No.]

AAFCA9873M

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

To provide and supply management services, facilities, conveniences, bureaus such as personnel and industrial relations / human resources management / development services, financial consultancy services, housing property development related services.

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (12)

 

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 incorporated during the year 2006 the company is yet to commence with its commercial operation. It is having a moderate track record.

 

The company has incurred some pre-operative expenses which has resulted into accumulated losses during FY 2014.

 

Management remain non-co-operative.

 

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 condition.

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

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 31-03-2013.

 

 

INFORMATION DENIED

 

Management Non Co-operative (91-22-22033992)

 

 

LOCATIONS

 

Registered Office :

“The International”, 5th Floor, 16, New Marine Lines Cross Road No.1, Churchgate, Mumbai – 400020, Maharashtra, India

Tel. No.:

91-22-22033992

Fax No.:

91-22-22083984

E-Mail :

rkraje@jumbo.net.in

 

 

DIRECTORS

 

AS ON 29.09.2014

 

Name :

Mr. Vidya Manohar Chhabria

Designation :

Director

Address :

Villa No.19, 342/55a-53a, Alwasl Road, Jumeirah, P O Box 3426, Dubai, Na, United Arab Emirates

Date of Birth/Age :

21.10.1948

Date of Appointment :

10.10.2007

DIN No.:

00116233

 

 

Name :

Mr. Komal Chhabria Wazir

Designation :

Director

Address :

P O Box 3426, Dubai, Na, United Arab Emirates

Date of Birth/Age :

11.08.1972

Date of Appointment :

10.10.2007

DIN No.:

00138111

 

 

Name :

Mr. Ravindra Keshav Raje

Designation :

Director

Address :

6, Ashirwad, B W Pathare Marg, Shivaji Park, Dadar, Mumbai - 400028, Maharashtra, India

Date of Birth/Age :

30.06.1955

Date of Appointment :

21.07.2008

DIN No.:

00112003

 

 

Name :

Mr. Sanjeev Jain

Designation :

Director

Address :

Sh. Ahmed Bin Saeed Aal Maktoum Flat - 2208, (E&W-Sub Meter) 335/Trade Center First Po Box 2548, Dubai, Na, United Arab Emirates

Date of Birth/Age :

05.12.1961

Date of Appointment :

30.01.2014

DIN No.:

00119762

 

 

Name :

Mr. Ashok Kumar Kapur

Designation :

Director

Address :

144, Adarsh Nagar, Narmada Road, Jabalpur - 482001, Madhya Pradesh, India

Date of Birth/Age :

04.11.1947

Date of Appointment :

30.01.2014

DIN No.:

00126807

 

 

MAJOR SHAREHOLDERS

 

AS ON 29.09.2014

 

Names of Shareholders

 

No. of Shares

% of Holding

Vidya Manohar Chhabria

20000

66.67

Komal C Wazir

10000

33.33

 

 

 

Total

30000

100.00

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 29.09.2014

 

Category

 

Percentage

Directors or relatives of Directors

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

To provide and supply management services, facilities, conveniences, bureaus such as personnel and industrial relations / human resources management / development services, financial consultancy services, housing property development related services.

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Company Name :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark :

Not Divulged

 

 

Customers :

Company Name :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark :

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Banker Name :

Not Divulged

Branch :

Not Divulged

Person Name (With Designation) :

Not Divulged

Contact Number :

Not Divulged

Name of Account Holder :

Not Divulged

Account Number :

Not Divulged

Account Since (Date/Year of Account Opening) :

Not Divulged

Average Balance Maintained :

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan) :

Not Divulged

Account Operation :

Not Divulged

Remark :

Not Divulged

 

 

Auditors :

 

Name :

G S Nayak and Company

Chartered Accountants

Address :

4/2 Chandraudaya Co-Operative Housing Society, Opposite Swastika Park, C.S.T Road, Chembur, Mumbai – 400071, Maharashtra, India

Tel. No.:

91-22-25295181

PAN No.:

AAEFG0306M

 

 

Memberships :

Not Divulged

 

 

Collaborators :

Not Divulged

 

 

Other Related Parties and Associates with whom the Company has entered into transactions during the year :

·         Jumbo Electronics Corporation Private Limited

·         Harshit Finlease and Investments Private Limited

·         Dandvati Investments and Trading Company Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 29.09.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

50000

Equity Shares

Rs.10/- each

Rs.0.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

30000

Equity Shares

Rs.10/- each

Rs.0.300 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

0.300

0.300

0.300

(b) Reserves & Surplus

(0.111)

(0.101)

(0.089)

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

0.189

0.199

0.211

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

750.000

500.000

500.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

750.000

500.000

500.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

172.700

135.500

80.500

(b) Trade payables

0.000

0.000

0.000

(c) Other current liabilities

0.008

0.008

0.005

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

172.708

135.508

80.505

 

 

 

 

TOTAL

922.897

635.707

580.716

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

0.000

0.000

0.000

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

500.100

500.100

500.100

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

500.100

500.100

500.100

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

0.000

0.000

(c) Trade receivables

0.000

0.000

0.000

(d) Cash and cash equivalents

0.084

0.101

0.106

(e) Short-term loans and advances

422.700

135.500

80.500

(f) Other current assets

0.013

0.006

0.010

Total Current Assets

422.797

135.607

80.616

 

 

 

 

TOTAL

922.897

635.707

580.716

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

0.000

0.000

 

 

 

Other Income

0.007

0.007

 

 

 

TOTAL                                    

0.007

0.007

0.005

 

 

 

 

 

Less

EXPENSES

0.017

0.018

0.029

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX

(0.010)

(0.011)

(0.024)

 

 

 

 

 

Less

TAX                                                                 

0.000

0.000

0.000

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX

(0.010)

(0.011)

(0.024)

 

 

 

 

 

 

Earnings Per Share (Rs.)

(0.34)

(0.37)

(0.79)

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flow from (used in) operations

NA

NA

NA

 

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets)

(%)

0.00

(0.01)

(0.03)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.05)

(0.06)

(0.11)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

4882.01

3193.47

2751.18

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.45

1.00

1.00

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Share Capital

0.300

0.300

0.300

Reserves & Surplus

(0.089)

(0.101)

(0.111)

Net worth

0.211

0.199

0.189

 

 

 

 

long-term borrowings

500.000

500.000

750.000

Short term borrowings

80.500

135.500

172.700

Total borrowings

580.500

635.500

922.700

Debt/Equity ratio

2751.185

3193.467

4882.011

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Total Income

0.005

0.007

0.007

 

 

40.000

0.000

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Total Income

0.005

0.007

0.007

Profit

(0.024)

(0.011)

(0.010)

 

(480.00%)

(157.14%)

(142.86%)

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

No

21

Banking facility details

No

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

UNSECURED LOANS:

 

Particulars

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

Long Term Borrowings

 

 

4,50,00,000 (P.Y.4,50,00,000) 0% Unsecured Optionally Convertible Debentures of Rs.10/‐ each

450.000

450.000

5,00,000 (P.Y. 5,00,000) 0% Unsecured Optionally Convertible Debentures of Rs.100/‐ each

50.000

50.000

5,00,000 (P.Y. NIL) 0% Unsecured Optionally Convertible Debentures of Rs.100/‐ each Series III, Rs.50/- Paid Up

250.000

0.000

 

 

 

Short Term Borrowings

 

 

Harshit Finlease and Investments Private Limited

0.000

135.500

Dandvati Investments and Trading Company Private Limited

172.700

0.000

 

 

 

Total

922.700

635.500

 

 

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, India Prisons Service, Interpol, etc.

 

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.65.25

UK Pound

1

Rs.102.25

Euro

1

Rs.72.20

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NKT

 

 

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

--PROFITABILITY

1~10

--

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

 

 

 

TOTAL

 

12

 

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

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.