MIRA INFORM REPORT
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Report No. : |
341892 |
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Report Date : |
22.09.2015 |
IDENTIFICATION DETAILS
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Name : |
FIRE MOUNT INDUSTRIES LIMITED |
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Registered
Office : |
Swetamber Niwas, 4th Floor, Bhatwadi, Ganesh Chowk, Kisan Nagar - 3, Thane (West), Thane – 400604, Maharashtra |
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Mobile No.: |
91-9320678781 (Mr. Santosh Dashrath Nikam) |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
14.11.2008 |
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Com. Reg. No.: |
11-188183 |
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Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
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CIN No.: [Company Identification
No.] |
U45200MH2008PLC188183 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Construction Activity |
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No. of Employees
: |
Information declined by the management. |
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2008 and it is a leading Engineering
Procurement Construction Commissioning company in the Indian industry. Management of the subject has failed to file its financials with
government department after the year 2010. According to the financial of the year 2010, the company has not
carried any business activities. As per the status shown in the Registrar of Companies, business is
active. Payments are reported to be unknown. In view of the aforesaid, the company 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 : 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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 DENIED BY
|
Name : |
Mr. Santosh Dashrath Nikam |
|
Designation : |
Director |
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Contact No.: |
91-9320678781 |
|
Date : |
21.09.2015 |
LOCATIONS
|
Registered Office : |
Swetamber Niwas, 4th Floor, Bhatwadi, Ganesh Chowk, Kisan Nagar - 3, Thane (West), Thane – 400604, Maharashtra, India |
|
Tel. No.: |
Not Available |
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Mobile No.: |
91-9320678781 (Mr. Santosh Dashrath Nikam) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office: |
Fire Mount House, Sector-17, Vashi, Navi Mumbai – 400703, Maharashtra, India |
DIRECTORS
AS ON 29.09.2010
|
Name : |
Mr. Santosh Dashrath Nikam |
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Designation : |
Director |
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Address : |
A-705, Panchavati Co-operative Housing Society Limited, Plot No. 92/96, Sector No. 5, Ghansoli, Navi Mumbai - 400701, Maharashtra, India |
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Date of Birth / Age
: |
19.05.1977 |
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Date of Appointment : |
14.11.2008 |
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DIN No.: |
01969494 |
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Other Directorship
:
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Name : |
Mr. Baban Bajajirao More |
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Designation : |
Director |
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Address : |
Soihambar Niwas, Kisan Nagar 3, Thane - 400604, Maharashtra, India |
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Date of Birth / Age
: |
15.03.1945 |
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Date of Appointment : |
14.11.2008 |
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DIN No.: |
01972702 |
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Other Directorship
:
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Name : |
Mr. Yogesh Baban More |
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Designation : |
Director |
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Address : |
Swetamba Niwas, 4th Floor Bhatwadi, Ganesh Chowk, Kisan Nagar No-3, Thane - 400081, Maharashtra, India |
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Date of Birth / Age
: |
14.08.1974 |
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Date of Appointment : |
08.01.2009 |
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DIN No.: |
02481602 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2010
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Suresh Babu K M |
20000 |
40.00 |
|
Snehalata Suresh Babu |
5000 |
10.00 |
|
Santosh Dashrath Nikam |
20000 |
40.00 |
|
Baban Bajajirao More |
1000 |
2.00 |
|
Yogita More |
1000 |
2.00 |
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Sulochana Nikam |
1500 |
3.00 |
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Vidya Patil |
1500 |
3.00 |
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Total |
50000 |
100.00 |
AS ON 29.09.2010
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Construction Activity |
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Products / Services: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
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 : |
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Name : |
Ahmedi and Associates Chartered Accountants |
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Address : |
Flat No. 1, Emadi Building, Amakin-Emohmadiya, Khambaplada, Bhoirwadi,
Dombivali (East), Thane – 421201, Maharashtra, India |
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Fax No.: |
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Income-tax PAN of auditor
or auditor's firm: |
ALMPM4272F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 29.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
50,000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
15.11.2008
To 31.03.2009 |
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1] Share Capital |
|
0.500 |
0.500 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
0.000 |
0.000 |
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4] (Accumulated Losses) |
|
(0.245) |
(0.230) |
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NETWORTH |
|
0.255 |
0.270 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL
BORROWING |
|
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
|
0.255 |
0.270 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
0.000 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
0.000 |
0.000 |
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Sundry Debtors |
|
0.000 |
0.000 |
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Cash & Bank Balances |
|
0.285 |
0.285 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
0.000 |
0.000 |
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Total Current Assets |
|
0.285 |
0.285 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Other Current Liabilities |
|
0.030 |
0.015 |
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Provisions |
|
0.000 |
0.000 |
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Total Current Liabilities |
|
0.030 |
0.015 |
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Net Current
Assets |
|
0.255 |
0.270 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
|
0.255 |
0.270 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
15.11.2008
To 31.03.2009 |
|
|
SALES |
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|
Income |
|
0.000 |
0.000 |
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Other Income |
|
0.000 |
0.000 |
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TOTAL |
|
0.000 |
0.000 |
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|
Less |
EXPENSES |
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|
Administrative Expenses |
|
0.015 |
0.230 |
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TOTAL |
|
0.015 |
0.230 |
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|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
(0.015) |
(0.230) |
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|
Less |
FINANCIAL EXPENSES |
|
0.000 |
0.000 |
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|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
(0.015) |
(0.230) |
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.000 |
0.000 |
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PROFIT/ (LOSS) BEFORE TAX
|
|
(0.015) |
(0.230) |
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Less |
TAX |
|
0.000 |
0.000 |
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PROFIT/ (LOSS) AFTER TAX
|
|
(0.015) |
(0.230) |
|
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Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
|
(0.230) |
0.000 |
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Balance Carried to the
B/S |
|
(0.245) |
(0.230) |
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EARNINGS IN FOREIGN
CURRENCY |
|
Nil |
Nil |
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|
Earnings / (Loss) Per
Share (Rs.) |
|
(0.30) |
(12.17) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2010 |
15.11.2008
To 31.03.2009 |
|
Current Maturities of Long term debt |
|
NA |
NA |
|
Cash generated from operations |
|
NA |
NA |
|
Net cash flow from (used in) operations |
|
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
15.11.2008
To 31.03.2009 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
0.00 |
0.00 |
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|
Operating Profit Margin (PBIDT/Sales) |
(%) |
|
0.00 |
0.00 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
(5.26) |
(80.70) |
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Return on Investment (ROI) (PBT/Networth) |
|
|
(0.06) |
(0.85) |
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Debt Equity Ratio (Total Debt /Networth) |
|
|
0.00 |
0.00 |
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Current Ratio (Current Asset/Current Liability) |
|
|
9.50 |
19.00 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2009 |
31.03.2010 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
0.500 |
0.500 |
|
Reserves & Surplus |
0.000 |
0.000 |
|
(Accumulated Losses) |
(0.230) |
(0.245) |
|
Net worth |
0.270 |
0.255 |
|
|
|
|
|
Secured Loans |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
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 |
Yes |
|
20 |
Banking Details |
No |
|
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 one year four
months |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last one year four
months |
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
FINANCIAL RESULT
During the period, the company did not carry
on any business activities.
SHIFTED NOTE
The registered office of the company has been
shifted from A-705, Panchavati Co-operative Housing Society Limited, Plot No.92/96, Sector No. 5, Ghansoli, Navi Mumbai – 400701,
Maharashtra, India to the present address w.e.f. 01.02.2013.
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,
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.65.75 |
|
|
1 |
Rs.102.16 |
|
Euro |
1 |
Rs.74.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.