MIRA INFORM REPORT

 

 

Report No. :

307099

Report Date :

09.02.2015

 

IDENTIFICATION DETAILS

 

Name :

CRENOVA PLATING PRIVATE LIMITED

 

 

Registered Office :

Gat No. 87, Navlakh Umbare, Taluka Maval, Talegaon, Pune - 410507, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

03.04.2012

 

 

Com. Reg. No.:

11-142887

 

 

Capital Investment / Paid-up Capital :

Rs. 20.000 Millions

 

 

CIN No.:

[Company Identification No.]

U74900PN2012PTC142887

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

PNEC09224F

 

 

PAN No.:

[Permanent Account No.]

AAECC8207A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Auto Components.

 

 

No. of Employees :

39 (Approximately)

 

 

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

 

 

Comments :

Subject is an establishing company with limited operation history as it has been incorporated in year 2012.

 

As per our information the management has failed to file financials with government.

 

As per Mr. Adnan Inwala (Legal Advisor) the turnover for the year 2013-14 was around Rs. 45.200 Millions. The company expects a turnover of 250.000 Millions for the year 2014-15.

 

However, trade relations seem to be fair. Business is active. Payments terms are reported to be unknown.

 

The company can be considered for business dealings with caution.

 

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 31-03-2014.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Adnan Inwala

Designation :

Legal Advisor

Contact No.:

91-20-40014927

Date :

07.02.2015

 

 

LOCATIONS

 

Registered Office/ Factory :

Gat No. 87, Navlakh Umbare, Taluka Maval, Talegaon, Pune - 410507, Maharashtra, India

Tel. No. :

91-20-40014927

Mobile No. :

91-9673994252 (Mr. Adnan Inwala)

Fax No. :

91-211-4662800

E-Mail :

adnanginwala@gmail.com

anuj.vaidya@crenovaplating.com

Area :

10000 Sq. Ft.

Location :

Rented

 

 

DIRECTORS

 

Name :

Shanti Bhushan Rakheja

Designation :

Director

Address :

K-1/150, C.R. Park, New Delhi - 110019, India

Date of Birth/Age :

15.09.1960

Date of Appointment :

26.11.2012

DIN No. :

01149418

 

 

Name :

Mr. Rajan Rakheja

Designation :

Director

Address :

M-37, Kalkaji, New Delhi - 110019, India

Date of Birth/Age :

18.07.1962

Date of Appointment :

26.11.2012

DIN No. :

01149508

 

 

Name :

Mr. Byungjun Sangsu An

Designation :

Director

Address :

113-1403, Haein Rosevil, 22/5, 471, Chung An Jinhae, Kyung Nam, Na, Korea, Republic Of

Date of Birth/Age :

27.12.1969

Date of Appointment :

03.04.2012

DIN No. :

05236111

 

 

Name :

Jung Rea Cho

Designation :

Director

Address :

B1-204, Uni World City-Sector 30, Gurgaon IN, Sector 30, Gurgaon - 122001, Haryana, India

Date of Birth/Age :

4.12.1976

Date of Appointment :

03.04.2012

DIN No. :

03182249

 

 

KEY EXECUTIVES

 

Name :

Mr. Adnan Inwala

Designation :

Legal Advisor

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.03.2012

 

Names of Shareholders

 

No. of Shares

Percentage of Holding

Jung Rea Cho

9999

99.99

Sunil Gajanan Nanal

1

0.01

Total

10000

100.00

 

 

 

Allottees as on 19.11.2012

 

Names of Allottees

 

No. of Shares

Jung Rea Cho

446450

Byung Jun An

48550

Total

495000

 

 

Allottees as on 09.01.2013

 

Names of Allottees

 

No. of Shares

Shanti Bhushan Raheja

252500

Rajan Rakheja

252500

Total

505000

 

 

Allottees as on 09.02.2013

 

Names of Allottees

 

No. of Shares

Jung Rea Cho

43550

Byung Jun An

151450

Shanti Bhushan Rakheja

247500

Rajan Rakheja

247500

Gold Industry Company Limited, South Korea

162272

Total

852272

 

 

Allottee as on 25.05.2013

 

Names of Allottee

 

No. of Shares

Gold Industry Company Limited, South Korea

137728

Total

137728

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Auto Components.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

--

 

 

Imports :

 

Products :

Auto Components

Countries :

Korea

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (with Designation):

Not Divulged

Contact Number:

Not Divulged

Since How Long Known:

Not Divulged

Maximum Limit Dealt:

Not Divulged

Experience :

Not Divulged

Remarks :

Not Divulged

 

 

Customers :

Reference:

Not Divulged

Name of the Person (with Designation):

Not Divulged

Contact Number:

Not Divulged

Since How Long Known:

Not Divulged

Maximum Limit Dealt:

Not Divulged

Experience :

Not Divulged

Remarks :

Not Divulged

 

 

No. of Employees :

39 (Approximately)

 

 

Bankers :

·         Kotak Mahindra Bank Limited, 7th Floor, Ambadeep Building, 14, K. G. Marg, Connaught Place, New Delhi - 110001, India

 

·         Axis Bank Limited, Pune Branch, Maharashtra, India

 

 

Facilities :

Non Fund Based Limit: Rs. 15.000 Millions (From Kotak Mahindra Bank Limited)

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Kirti Jain and Associates

Chartered Accountants

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

--

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2000000

Equity Shares

Rs.10/- each

Rs. 20.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2000000

Equity Shares

Rs.10/- each

Rs. 20.000 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

NOT AVAILABLE

 

 

Particulars

 

31.03.2014

 

 

Sales Turnover (Approximately)

45.200

 

 

 

Expected Sales (2014-2015): Rs. 250.000 Millions

 

The above information has been parted by Mr. Adnan Inwala (Legal Advisor).

 

 

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 three years

No

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

No

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

-----

27]

Financials, if provided

Yes

28]

Incorporation details, if applicable

Yes

29]

Last accounts filed at ROC

No

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

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10403410

08/02/2013

17,000,000.00

KOTAK MAHINDRA BANK LIMITED

7TH FLOOR, AMBADEEP BUILDING, 14, K. G. MARG, CON
NAUGHT PLACE, NEW DELHI - 110001, INDIA

B68284538

 

 

CHANGE OF ADDRESS

 

The registered office of the company has been shifted from A3-603, Nandan Prospera, Near D-Mart, Baner Road,

Pune – 411045, Maharashtra, India to the present address w.e.f. 29.06.2013.


 

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.62.14

UK Pound

1

Rs.94.79

Euro

1

Rs.70.38

 

 

INFORMATION DETAILS

 

Information Gathered by :

HNA

 

 

Analysis Done by :

SUC

 

 

Report Prepared by :

MRI

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

NO

--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

 

--

 

 

 

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.