MIRA INFORM REPORT

 

 

Report No. :

320324

Report Date :

02.05.2015

 

IDENTIFICATION DETAILS

 

Name :

PAARICHEM RESOURCES LLP

 

 

Formerly Known As :

PAARICHEM RESOURCES PRIVATE LIMITED

 

 

Registered Office :

No. 711, 7th Floor, Reena Complex Premises, Ramde Nagar, Opposite Vidyavihar Bus Depot, Vidyavihar [West], Mumbai - 400086, Maharashtra

Tel. No.:

91-22-66717450

 

 

Country :

India

 

 

Financials (as on) :

--

 

 

Date of Incorporation :

27.08.2014

 

 

Total Obligation of Contribution :

Rs. 0.100 Million

 

 

LLPIN :

AAC-6369

 

 

IEC No.:

0309010713

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMP32617E

 

 

PAN No.:

[Permanent Account No.]

 

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Trader and Importer of Pharmaceutical Solvents and Other Chemicals.

 

 

No. of Employees :

20 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (11)

 

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 :

Subject was established as a proprietorship concern during 2010, but later it got converted to private limited company on 21.08.2013. Again on 27.08.2014 subject got converted to limited liability partnership concern.

 

Mr. Parimal K. Doshi (Partner) claimed that the erstwhile concern and private limited company has achieved a turnover of Rs. 154 Crore for FY2013 and FY2014 respectively. He further claimed that the limited liability partnership concern has achieved sales turnover of Rs. 125 for FY2015, but none of the said figures are verified.

 

However, business is active as per status shown in the Registrar of Companies. Payment terms are unknown.

 

In the view of aforesaid, subject can be considered for business dealings on safe and secured trade terms and conditions.  

 

NOTES :

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

 

 

ECGC Country Risk Classification List – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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 31-03-2014.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Parimal Kantilal Doshi

Designation :

Designated Partner

Contact No.:

91-9820034229

Date :

30.04.2015

 

 

LOCATIONS

 

Registered Office :

No. 711, 7th Floor, Reena Complex Premises, Ramde Nagar, Opposite Vidyavihar Bus Depot, Vidyavihar [West], Mumbai - 400086, Maharashtra, India

Tel. No.:

91-22-66717450/ 25156969

Mobile No.:

91-9820034229 (Mr. Parimal Kantilal Doshi)

Fax No.:

91-22-66717454

E-Mail :

paarichem@gmail.com

Website :

http://www.paarichemresources.net

Location :

Owned

 

 

Administrative Office :

714-715 Reena Complex Premises Cooperative Society Limited, Kirol, Ramdev Nagar, Vidyavihar [West], Mumbai – 400086, Maharashtra, India

 

 

Corporate Office :

M1, Faize Qutbi, 375, Narshi Natha Street, Masjid Bunder, Mumbai - 400009, Maharashtra, India

Tel. No.:

91-22-66717450

Fax No.:

91-22-66717454

 

 

DIRECTORS

 

AS ON 08.07.2014

 

Name :

Mr. Parimal Kantilal Doshi

Designation :

Designated Partner

Address :

503/504, Kaveri Building, Neelkanth Valley, Rajawadi, 7th Road, Ghatkopar (East), Mumbai - 400077, Maharashtra, India

Date of Birth/Age :

23.03.1962

Date of Appointment :

27.08.2014

DPIN No.:

00571951

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U51900MH1985PTC036467

AREN ORGANICS PRIVATE LIMITED

Director

06-07-2004

06-07-2004

Active

NO

2

U51101MH2013PTC247309

PAARICHEM RESOURCES PRIVATE LIMITED

Director

21-08-2013

21-08-2013

Converted to LLP and dissolved

NO

3

AAC-6369

PAARICHEM RESOURCES LLP

Designated Partner

27-08-2014

27-08-2014

Active

NO

 

 

Name :

Penil Parimal Doshi

Designation :

Designated Partner

Address :

503/504, Kaveri Building, Neelkanth Valley, Rajawadi, 7th Road, Ghatkopar (East), Mumbai - 400077, Maharashtra, India

Date of Birth/Age :

07.01.1991

Date of Appointment :

27.08.2014

DPIN No.:

06625636

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U51101MH2013PTC247309

PAARICHEM RESOURCES PRIVATE LIMITED

Director

21-08-2013

21-08-2013

Converted to LLP and dissolved

NO

2

AAB-9601

SPARK WATER CHEM LLP

Designated Partner

26-12-2013

26-12-2013

Active

NO

3

AAC-6369

PAARICHEM RESOURCES LLP

Designated Partner

27-08-2014

27-08-2014

Active

NO

 

 

CONTRIBUTION DETAILS 

 

 

Names of Partners

 

Rs. In Million

Parimal Kantilal Doshi

0.050

Penil Parimal Doshi

0.050

 

 

Total

 

0.100

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Importer of Pharmaceutical Solvents and Other Chemicals.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

--

Countries :

--

 

 

Imports :

 

Products :

Raw Material

Countries :

·         Japan

·         Taiwan

·         China

·         Korea

·         Iran

 

 

Terms :

 

Selling :

Cash and Cheque

 

 

Purchasing :

Cash, Cheque and DD

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

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 :

Reference:

Not Divulged

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 :

20 (Approximately)

 

 

Bankers :

Bank Name:

Bank of Baroda

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 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

 

 

Facilities :

--

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Bimal R. Mehta and Associates

Chartered Accountants

Address :

Mumbai, Maharashtra, India

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

 

Total Obligation of Contribution

 

Rs. 0.100 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

PAARICHEM RESOURCES LLP

 

PARTICULARS

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

1250.000

 

 

 

 

 

The above information has been parted by Mr. Parimal Kantilal Doshi (Partner)

 

 

PAARICHEM RESOURCES PRIVATE LIMITED

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.07.2014

[4 Months]

31.03.2014

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

0.100

0.100

(b) Reserves & Surplus

 

(0.040)

(0.020)

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.000

Total Shareholders’ Funds (1) + (2)

 

0.060

0.080

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

 

0.000

0.000

(b) Deferred tax liabilities (Net)

 

0.000

0.000

(c) Other long term liabilities

 

0.000

0.000

(d) long-term provisions

 

0.000

0.000

Total Non-current Liabilities (3)

 

0.000

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

0.000

0.000

(b) Trade payables

 

0.000

0.000

(c) Other current liabilities

 

0.034

0.017

(d) Short-term provisions

 

0.000

0.000

Total Current Liabilities (4)

 

0.034

0.017

 

 

 

 

TOTAL

 

0.094

0.097

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

0.000

0.000

(ii) Intangible Assets

 

0.000

0.000

(iii) Capital work-in-progress

 

0.000

0.000

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

0.000

0.000

(c) Deferred tax assets (net)

 

0.000

0.000

(d)  Long-term Loan and Advances

 

0.000

0.000

(e) Other Non-current assets

 

0.009

0.012

Total Non-Current Assets

 

0.009

0.012

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

0.000

0.000

(b) Inventories

 

0.000

0.000

(c) Trade receivables

 

0.000

0.000

(d) Cash and cash equivalents

 

0.085

0.085

(e) Short-term loans and advances

 

0.000

0.000

(f) Other current assets

 

0.000

0.000

Total Current Assets

 

0.085

0.085

 

 

 

 

TOTAL

 

0.094

0.097

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

 

31.07.2014

[4 Months]

31.03.2014

 

SALES

 

 

 

 

 

Income

 

0.000

0.000

 

 

Other Income

 

0.000

0.000

 

 

TOTAL                                    

 

0.000

0.000

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Other Expenses

 

0.020

0.020

 

 

TOTAL                                    

 

0.020

0.020

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX

 

(0.020)

(0.020)

 

 

 

 

 

Less

TAX                                                                 

 

0.000

0.000

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX

 

(0.020)

(0.020)

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

 

(1.98)

(1.99)

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.07.2014

[4 Months]

31.03.2014

Net Profit Margin

(PAT/Sales)

(%)
 

0.00

0.00

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

(21.28)

(20.62)

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

(0.33)

(0.25)

 

 
 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 
 

0.00

0.00

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

2.50

5.00

 

 

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 two years and four months

Yes

12]

Profitability for last one years and four months

Yes

13]

Reasons for variation <> 20%

--

14]

Estimation for coming financial year

No

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

No

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

Yes

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: 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. 63.58

UK Pound

1

Rs. 97.99

Euro

1

Rs. 70.53

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

SUM

 

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

1

OPERATING SCALE

1~10

1

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

1

--PROFITABILITY

1~10

1

--LIQUIDITY

1~10

1

--LEVERAGE

1~10

1

--RESERVES

1~10

1

--CREDIT LINES

1~10

1

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

11

 

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.