MIRA INFORM REPORT

 

 

Report No. :

346528

Report Date :

01.12.2015

 

IDENTIFICATION DETAILS

 

Name :

BHARAT SPRAYS PRIVATE LIMITED

 

 

Registered Office :

S. No.54/2, Vinayak Nagar, New Sangavi, Pune-411061, Maharashtra

Mob No.:

91-9503360007 (Mr. Ashish Pitalwar)

 

 

Country :

India

 

 

Financials (as on) :

--

 

 

Date of Incorporation :

16.07.2014

 

 

Com. Reg. No.:

11-151831

 

 

Capital Investment / Paid-up Capital :

Rs. 0.100 Million

 

 

CIN No.:

[Company Identification No.]

U24100PN2014PTC151831

 

 

IEC No.:

Not Divulged

 

 

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 :

Manufacturer of Brake and Contact Cleaner, AC Disinfectant, Rust Fighter, EGR Cleaner, etc.

 

 

No. of Employees :

15 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

NB

New Business

 

Status :

New Business

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is a new company established on July 16th, 2014. It is engaged in the business of manufacturing of Brake and contact cleaner, AC Disinfectant, Rust Fighter and EGR cleaner.

 

Mr. Ashish Pitalwar, Director has provided all the details and informed that the company has started its business activities from August 2014 and achieved sales turnover of Rs. 2 million in the FY-15, which could not be verified.

 

Payments are unknown.

 

The company can be considered for business dealings on fully safe and secure 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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 31-03-2015.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Ashish Pitalwar

Designation :

Director

Contact No.:

91-9503360007

Date :

27.11.2015

 

 

LOCATIONS

 

Registered Office :

S. No.54/2, Vinayak Nagar, New Sangavi, Pune-411061, Maharashtra, India

Tel. No.:

Not Available

Mobile No.:

91-9503360007 (Mr. Ashish Pitalwar)

Fax No.:

Not Available

E-Mail :

sales@bharatsprays.com

office@corpaidcs.com

Website :

http://www.bharatsprays.in

Area :

400 Sq. Ft

Location :

Owned

Locality :

Residential

 

 

Factory :

Sr. No.30/8, 30/9, Saraswati Estate, Block No.15, Near Prabhat Press, Narhe, Pune - 411041, Maharashtra, India

Area :

1200 Sq. Ft

Location :

Rented

 

 

DIRECTORS

 

AS ON 04.07.2014

 

Name :

Mr. Sagar Krishna Pitalwar

Designation :

Director

Address :

54/1, 74/1, Vinayannagar, Gurukrupa, Lane No 2, Pimple Gurav, New Sangvi,, Pune-411061, Maharashtra, India

Date of Birth/Age :

22.09.1979

Date of Appointment :

16.07.2014

PAN No.:

AGQPP0935M

DIN No.:

06899687

 

 

Name :

Mr. Ashish Krishna Pitalwar

Designation :

Director

Address :

Mokate Chal, Shastri Nagar, Kothrud, Pune-411029, Maharashtra, India

Date of Birth/Age :

16.07.1981

Date of Appointment :

16.07.2014

PAN No.:

ALFPP6087Q

DIN No.:

06900874

 

 

Name :

Mrs. Asha Krushna Pitalwar

Designation :

Director

Address :

Sr No 54/1, 74/1, Gurukrupa, Vinayak Nagar,, Pimple Gurav, New Sanghavi, Pune-411027, Maharashtra, India

Date of Birth/Age :

30.11.1953

Date of Appointment :

16.07.2014

PAN No.:

AOVPP5841H

DIN No.:

06899696

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 04.07.2014

 

Names of Shareholders

No. of Shares

 

Percentage of Holding

Sagar Krishna Pitalwar

3300

33.00

Ashish Krishna Pitalwar

3300

33.00

Asha Krushna Pitalwar

3400

34.00

Total

10000

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Brake and Contact Cleaner, AC Disinfectant, Rust Fighter, EGR Cleaner, etc.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

--

Countries :

--

 

 

Imports :

 

Products :

--

Countries :

--

 

 

Terms :

 

Selling :

Cash, L/C and Credit

 

 

Purchasing :

Cash, L/C and Credit

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Company Name:

Reliable Chemicals, Pune

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Others (Dealers)

 

Company Name:

Balaji Enterprises, Pune

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

15 (Approximately)

 

 

Bankers :

Bank Name:

HDFC Bank Limited

Branch:

New Sangari, Pune-411061, Maharashtra, India

Person Name (with Designation):

Not Divulged

Contact Number:

91-20-27287134 (Ringing)

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

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

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         Vidya Sahakari Bank

Kothrud, Pune, Maharashtra, India

 

 

Facilities :

--

 

Banking Relations :

--

 

 

Auditors :

Not Divulged

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 04.07.2014

 

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]

 

NEW BUSINESS

 

PARTICULARS

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

2.000

 

 

 

 

 

Expected Sales (2015-2016): Rs. 5.000 Million

 

The above information has been parted by Mr. Ashish Pitalwar (Director)

 

 

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

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

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

Yes

17

Details of sister concerns

No

18

Major suppliers

Yes

19

Major customers

Yes

20

Banking Details

Yes

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 one year

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

29

Profitability for last three years

No

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

Yes

35

Negative Reporting by Auditors in the Annual Report

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, 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. 66.81

UK Pound

1

 Rs. 100.37

Euro

1

Rs. 70.68

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

IND

 

 

 

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.