MIRA INFORM REPORT
|
Report No. : |
354198 |
|
Report Date : |
11.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
MW CORP PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
MH HOLDINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
S. Kumars House, Plot No.60, Street 14, MIDC, Phase II, Street 14,
Andheri (East), Mumbai 400093, Maharashtra |
|
Tel. No.: |
91-22-22818432 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.12.2006 |
|
|
|
|
Com. Reg. No.: |
11-166424 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.50.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65993MH2006PTC166424 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM34566A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM1365G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Investment and Finance Company |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
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|
|
Comments : |
Subject is an established company having moderate track. Management has not filed its financial with the government department
for the year 2014 and 2015. And same has not been made available from any
source. Rating is constrained as management remain no-cooperative and denied
to part any information about the company. However, as per our old record and database we are able to find that
even though the company got incorporated during the year 2006, but it has not
commenced its business activity till 2013. Further, the company commencement
of its business activities or not is unknown as management unwilling to
disclose the information. As per financial of 2013, net worth of the company is good along with
moderate financial profile and comfortable debt protection metrics. As per registrar the status of the company is shown as active. Payment
terms are unknown. The company can be considered for business dealings with some
cautions. |
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
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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 DENIED BY
|
Name : |
Mr. Punit Jain |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-22818432 |
|
Date : |
08.12.2015 |
LOCATIONS
|
Registered Office : |
S. Kumars House, Plot No.60, Street 14, MIDC, Phase II, Street 14,
Andheri (East), Mumbai 400093, Maharashtra, India |
|
Tel. No.: |
91-22-66044343/ 22818432/ 8694/ 66044320 |
|
Fax No.: |
91-22-22818619/ 66044390 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
99, Niranjan, Marine Drive, Mumbai - 400022, Maharashtra, India |
|
Tel No.: |
91-22-22818432/ 22818694 |
|
Fax No.: |
91-22-22818619 |
DIRECTORS
(AS ON 28.09.2013)
|
Name : |
Mr. Warij Abhaykumar Kasliwal |
|
Designation : |
Director |
|
Address : |
Padam 1, Flat 02, 4 B. G. Deshmukh Marg, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
02.07.1954 |
|
Date of Appointment : |
22.12.2006 |
|
DIN No.: |
00012576 |
|
|
|
|
Name : |
Mr. Mukul Shambhukumarji Kasliwal |
|
Designation : |
Director |
|
Address : |
Padam 4 GB, G. D. Marg, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
20.10.1964 |
|
Date of Appointment : |
22.12.2006 |
|
PAN No.: |
AAQPK8417K |
|
DIN No.: |
00058577 |
|
|
|
|
Name : |
Mr. Bharatkumar Somchand Vindhara |
|
Designation : |
Additional Director |
|
Address : |
204, Hiral Apartments, Achole Road, Nallasopara (East), District Thane
– 401209, Maharashtra, India |
|
Date of Birth/Age : |
10.05.1945 |
|
Date of Appointment : |
05.12.2007 |
|
DIN No.: |
00700293 |
|
|
|
|
Name : |
Mrs. Uravi Mukul Kasliwal |
|
Designation : |
Additional Director |
|
Address : |
Padam 1, Flat 02, 4 B. G. Deshmukh Marg, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
18.08.1963 |
|
Date of Appointment : |
27.09.2007 |
|
DIN No.: |
01598765 |
|
|
|
|
Name : |
Mrs. Pratibha Warij Kasliwal |
|
Designation : |
Additional Director |
|
Address : |
Padam 1, Flat 02, 4 B. G. Deshmukh Marg, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
20.02.1959 |
|
Date of Appointment : |
27.09.2007 |
|
DIN No.: |
01791538 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 28.09.2013)
|
Name of
Shareholders |
|
No of
Shares |
|
|
|
|
|
Raj Infin Private Limited, India jointly with Mr. Mukul S. Kasliwal |
|
10 |
|
Girija Holdings Private Limited, India jointly with Warji A. Kasliwal |
|
10 |
|
Raj Infin Private Limited, India |
|
2499990 |
|
Girija Holdings Private Limited, India |
|
2499990 |
|
|
|
|
|
Total
|
|
5000000 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Investment and Finance Company |
|
|
|
|
Products : |
Not Divulged |
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|
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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 : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
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Bankers : |
|
||||||||||||||||||||||
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Auditors : |
|
|
Name : |
Shyam
Malpani and Associates Chartered Accountants |
|
Address : |
307 Chartered House 2 9 7
- 2 9 9 Dr Cawasji Hormasji Street Near Marine Lines Church, Mumbai - 400002,
Maharashtra, India |
|
PAN No.: |
AADPM2684D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
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Collaborators : |
Not Available |
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|
Subsidiaries Companies |
·
MW Infra Developers Private Limited ·
S. Kumars Life Assurance Corporation Limited ·
MW Unitexx S.A. ·
S. Kumars Limited ·
Entegra Limited ·
MW Advisers Limited ( UK) ·
Dasna Developers Private Limited ·
Ennertech Biofuels Private Limited ·
Hindon River Mills Limited ·
Rajasthan Solar Power Company Private ·
Shree Maheshwar Hydel Power Corp Limited ·
Manmade Fabrics Sales Services Private Limited ·
Manor Textiles Limited ·
Klopman Holdings S.a.r.l ·
Klopman Int. srl. ·
Klopman Espana S.A. ·
Klopman GmbH ·
Klopman AG. ·
Klopman Textiles Private Limited ·
Intex S.A. ·
Klopman India Private Limited |
|
|
|
|
Associates : |
·
MW Unitex Limtied |
CAPITAL STRUCTURE
(AS ON 28.09.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
50.000 |
50.000 |
50.000 |
|
(b) Reserves & Surplus |
1309.258 |
1309.189 |
1308.374 |
|
(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) |
1359.258 |
1359.189 |
1358.374 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
26.800 |
87.415 |
70.869 |
|
(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) |
26.800 |
87.415 |
70.869 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
688.340 |
687.924 |
688.473 |
|
(c) Other
current liabilities |
2.815 |
2.349 |
26.096 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
691.155 |
690.273 |
714.569 |
|
|
|
|
|
|
TOTAL |
2077.213 |
2136.877 |
2143.812 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4.405 |
6.302 |
7.583 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
146.274 |
143.456 |
131.582 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1310.221 |
1310.221 |
1310.221 |
|
(c) Deferred tax assets (net) |
0.962 |
0.237 |
0.184 |
|
(d) Long-term Loan and Advances |
548.884 |
609.194 |
647.023 |
|
(e) Other
Non-current assets |
2.766 |
2.766 |
5.310 |
|
Total Non-Current
Assets |
2013.512 |
2072.176 |
2101.903 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
43.328 |
37.834 |
6.039 |
|
(d) Cash
and cash equivalents |
4.784 |
13.475 |
27.580 |
|
(e)
Short-term loans and advances |
15.589 |
12.342 |
8.290 |
|
(f) Other
current assets |
0.000 |
1.050 |
0.000 |
|
Total
Current Assets |
63.701 |
64.701 |
41.909 |
|
|
|
|
|
|
TOTAL |
2077.213 |
2136.877 |
2143.812 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.02 |
0.06 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.09 |
0.09 |
0.06 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
50.000 |
50.000 |
50.000 |
|
Reserves & Surplus |
1308.374 |
1309.189 |
1309.258 |
|
Net worth |
1358.374 |
1359.189 |
1359.258 |
|
|
|
|
|
|
long-term borrowings |
70.869 |
87.415 |
26.800 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
70.869 |
87.415 |
26.800 |
|
Debt/Equity ratio |
0.052 |
0.064 |
0.020 |
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 |
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
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 |
No |
|
26 |
Turnover of firm for last three years |
No |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Million) |
|
|
Long Term
Borrowings |
|
|
|
Inter-corporate Borrowings |
26.800 |
87.415 |
|
|
|
|
|
Total |
26.800 |
87.415 |
FINANCIAL HIGHLIGHTS
During
the period no business activities were undertaken.
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
FIXED ASSETS:
·
Building
·
Furniture and Fixtures
·
Office Equipment
·
Computer
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 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. 66.79 |
|
UK Pound |
1 |
Rs. 101.37 |
|
Euro |
1 |
Rs. 73.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
27 |
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.