MIRA INFORM REPORT
|
Report No. : |
333326 |
|
Report Date : |
24.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
ULTIMATE CHEM (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A – 33, Marol Nand Dham Udyog CHS Limited, 2nd Floor, |
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Tel. No.: |
91-22-29201582 |
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Country : |
India |
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|
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
22.02.1999 |
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|
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Com. Reg. No.: |
118446 |
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Capital
Investment / Paid-up Capital : |
Rs.3.747 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1999PTC118446 |
|
|
|
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IEC No.: |
0300034351 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMU03661A |
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|
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PAN No.: [Permanent Account No.] |
AAACU3398Q |
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|
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Dealer of Lab Equipments, reactions handled and other
Equipments. |
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|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. For the financial year ended 2014, sales turnover of the company has
declined which has resulted into dip in profit of the company during a year
under a review. Rating further constrained on account of company’s moderate financial risk
profile marked by modest networth and leverage balance sheet profile of the
company. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some 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
|
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Umesh Kanakia |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9820059939 |
|
Date : |
23.07.2015 |
LOCATIONS
|
Registered/ Corporate Office / Head Office: |
A – 33, Marol Nand Dham Udyog CHS Limited, 2nd Floor, |
|
Tel. No.: |
91-22-29201582 / 2978 / 65093918 / 3820 /
29202978 / 23735601 |
|
Mobile No.: |
91-9820059939 (Mr. Umesh Kanakia) |
|
Fax No.: |
91-22-29258797 / 67021506 |
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E-Mail : |
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|
Website : |
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|
Area : |
1800 sq. ft. |
|
Location : |
Owned |
|
|
|
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Branch Office : |
C-202, Sukirti Garden, Opposite Amrakadam
Bunglow, Ramdev Nagar, Satellite Road, Ahmedabad – 380015, Maharashtra, India |
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Tel. No.: |
91-79-26921302 |
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E-Mail : |
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|
Location : |
Owned |
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|
|
|
Godown : |
Located at: ·
Bhiwandi ·
Ahmedabad |
DIRECTORS
As on 30.09.2014
|
Name : |
Sonal Balkrishna Kanakia |
|
Designation : |
Director |
|
Address : |
A/2/604, Yogi Palace, Yogi Nagar, Eksar Road, Borivali (West), Mumbai
– 400091, Maharashtra, India |
|
Date of Birth/Age : |
02.10.1968 |
|
Date of Appointment : |
22.02.1999 |
|
DIN No.: |
00986459 |
|
|
|
|
Name : |
Balkrishna Jashwantrai Kanakia |
|
Designation : |
Director |
|
Address : |
A/2/604, Yogi Palace, Yogi Nagar, Eksar Road, Borivali (West), Mumbai
– 400091, Maharashtra, India |
|
Date of Birth/Age : |
14.08.1963 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
22.02.1999 |
|
DIN No.: |
01568621 |
KEY EXECUTIVE
|
Name : |
Mr. Umesh Kanakia |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Balkrishna J. Kanakia |
|
120100 |
|
Sonal B. Kanakia |
|
74600 |
|
Balkrishna J. Kanakia (HUF) |
|
60010 |
|
Muktaben Jayantilal Goradia |
|
70010 |
|
Dhaval Balkrishna Kanakia |
|
50018 |
|
|
|
|
|
Total |
|
374738 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20333326_MIRA%2024-Jul-2015_files/image016.gif)
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Dealer of Lab Equipments, reactions handled and other
Equipments. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Bulk Drugs and Intermediates |
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Countries : |
European Countries Middle East USA |
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Imports : |
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Products : |
Agro and Dye Intermediates |
|
Countries : |
China |
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Terms : |
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Selling : |
Cash and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Cash and Credit (30 days / 60 days / 90 days) |
PRODUCTION STATUS :NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
Note : Long-term
Borrowings Term loans of Rs.4.655 Million from Standard Chartered Bank by a first
pari passu charge created on immovable property of company, repayable in 120
equal installments bearing interest rate 11% for current maturity of long
term borrowings. Short-term borrowings Working capital borrowings and buyers’ credit from banks are secured
by way of hypothecation of company’s stock and book debts both present and
future and by way of equitable mortgage of company’s immovable of property
situated at office address. |
|
Auditors : |
|
|
Name : |
Pratik Shah and Company Chartered Accountants |
|
Address : |
84/86, Saliyawala Building, 2nd Floor, Masjid Bunder Road, Mumbai –
400003, Maharashtra, India |
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Tel. No.: |
91-22-28937600 |
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Email : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AADPS7151B |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500,000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
374,738 |
Equity Shares |
Rs.10/- each |
Rs.3.747
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 |
3.747 |
3.747 |
3.747 |
|
(b) Reserves &
Surplus |
16.566 |
15.513 |
14.119 |
|
(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) |
20.313 |
19.260 |
17.866 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
10.480 |
7.003 |
7.384 |
|
(b) Deferred tax liabilities
(Net) |
0.181 |
0.151 |
0.142 |
|
(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) |
10.661 |
7.154 |
7.526 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
58.471 |
50.671 |
38.282 |
|
(b) Trade payables |
261.110 |
231.292 |
148.531 |
|
(c) Other current
liabilities |
2.541 |
2.273 |
1.894 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.222 |
|
Total Current Liabilities
(4) |
322.122 |
284.236 |
188.929 |
|
|
|
|
|
|
TOTAL |
353.096 |
310.650 |
214.321 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3.306 |
2.782 |
2.153 |
|
(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 |
9.385 |
9.385 |
9.385 |
|
(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 |
12.691 |
12.167 |
11.538 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
48.594 |
24.973 |
29.081 |
|
(c) Trade receivables |
283.787 |
266.782 |
166.635 |
|
(d) Cash and cash
equivalents |
7.334 |
6.367 |
6.876 |
|
(e) Short-term loans and
advances |
0.657 |
0.335 |
0.084 |
|
(f) Other current assets |
0.033 |
0.026 |
0.107 |
|
Total Current Assets |
340.405 |
298.483 |
202.783 |
|
|
|
|
|
|
TOTAL |
353.096 |
310.650 |
214.321 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL |
635.905 |
817.146 |
815.960 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
634.482 |
815.125 |
813.823 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1.423 |
2.021 |
2.137 |
|
|
|
|
|
|
|
Less |
TAX |
0.370 |
0.628 |
0.645 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1.053 |
1.393 |
1.492 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
2.81 |
3.72 |
3.98 |
%20PRIVATE%20LIMITED%20-%20333326_MIRA%2024-Jul-2015_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20333326_MIRA%2024-Jul-2015_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20333326_MIRA%2024-Jul-2015_files/image005.gif){kind=small}
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
700.000 |
Expected Sales (2015-2016) : Rs.800.000
The above information has been parted by Mr. Umesh Kanakia.
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
1.114 |
1.114 |
1.114 |
|
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 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.17 |
0.17 |
0.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.41 |
0.67 |
1.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.10 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.45 |
3.05 |
2.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
1.05 |
1.07 |
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 |
3.747 |
3.747 |
3.747 |
|
Reserves & Surplus |
14.119 |
15.513 |
16.566 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
17.866 |
19.260 |
20.313 |
|
|
|
|
|
|
long-term borrowings |
7.384 |
7.003 |
10.480 |
|
Short term borrowings |
38.282 |
50.671 |
58.471 |
|
Current Maturities of
Long Term Debt |
1.114 |
1.114 |
1.114 |
|
Total borrowings |
46.780 |
58.788 |
70.065 |
|
Debt/Equity ratio |
2.618 |
3.052 |
3.449 |
%20PRIVATE%20LIMITED%20-%20333326_MIRA%2024-Jul-2015_files/image018.gif)
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) |
|
Sales |
815.960 |
817.146 |
635.905 |
|
|
|
0.145 |
(22.180) |
%20PRIVATE%20LIMITED%20-%20333326_MIRA%2024-Jul-2015_files/image020.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
815.960 |
817.146 |
635.905 |
|
Profit |
1.492 |
1.393 |
1.053 |
|
|
0.18% |
0.17% |
0.17% |
%20PRIVATE%20LIMITED%20-%20333326_MIRA%2024-Jul-2015_files/image022.gif)
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 |
Yes |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
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 four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Term loans from Director |
4.029 |
0.339 |
|
Term loans from Shareholders |
1.104 |
1.701 |
|
Total |
5.133 |
2.040 |
NOTE:
The situation of the registered office of the company was
changed from 82/84,
CORPORATE INFORMATION
The company is formed on 22nd February 1999 as a dealer in chemical and solvents. Company has its head office at Bombay and branch office at Ahmadabad.
OPERATIONS AND OUTLOOK:
During the year the company earned an income by way of sales and other income of Rs.635.905 Million as against Rs.817.146 Million achieved during the corresponding period of previous year. After offsetting the expenses the company made during the year a profit of Rs.1.053 Million (Profit after tax) as against Rs.1.393 Million achieved during the corresponding period of previous year. The directors are optimistic about the future of the company.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10512888 |
07/07/2014 |
25,305,260.00 |
CORPORATION BANK |
MANDVI BRANCH,221/223 SAMUEL STREET, MASJID, MUMB |
C15002363 |
|
2 |
10343682 |
27/03/2012 |
4,300,000.00 |
STANDARD CHARTERED BANK |
STANDARD CHARTERED TOWER, 201, B/1, WESTERN EXPRE |
B35627553 |
|
3 |
10258941 |
18/12/2010 |
6,741,783.00 |
STANDARD CHARTERED BANK |
STANDARD CHARTERED TOWER, 201, B/1 WESTERN EXPRES |
B01979574 |
|
4 |
10052958 |
21/04/2015 * |
85,000,000.00 |
CORPORATION BANK |
221/223,SAMUEL STREET,, MASJID BUNDER, MANDVI,, M |
C53392767 |
* Date of charge modification
FIXED ASSETS:
·
Air Conditioner
·
Office Equipments
·
Computer
·
Motor Car
·
Furniture and Fixtures
·
Office Premises (Andheri)
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 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.63.71 |
|
|
1 |
Rs.99.57 |
|
Euro |
1 |
Rs.69.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.