|
|
|
MIRA
INFORM REPORT
|
Report No. : |
493261 |
|
Report Date : |
22.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
PROTHOM INDUSTRIES INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Dynamic Logistics and Trade Park, Survey No. 78/1, Dighi, Talera
Nagar, Bhosari-Alandi Road, Pune – 411015, Maharashtra |
|
Mobile No.: |
91-9823012303 (Mrs. Soniya Arun Chandrachud) 91-9822354121 (Mr. Samarjit Bose) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
23.10.2013 |
|
|
|
|
Com. Reg. No.: |
11-149247 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 13.465 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900PN2013PTC149247 |
|
|
|
|
IEC No.: |
3113023637 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCP4147M |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAHCP4147M1ZZ |
|
|
|
|
TIN No.: |
27871040328 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture of games and toys. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject was incorporated in the year 2013. It is a manufacture of games and toys. Management has failed to file its financials with the Registrar of Companies for the FY 2017. As per the financial record of 2016, there has been massive growth in its revenue by 778.89% as compared to the previous year along with an average profit margin of 1.34%. The sound financial risk profile of the company is marked by improving net worth position due to equity infusion by its promoters along with strong debt coverage metrics due to comfortable debt coverage indicators. However, as per the press release of August 2017, Hundreds of employees from Prothom Industries India Private Limited reached work on Friday (11th August 2017) morning, only to find their factory gate at Bhosari-Alandi Road locked. Shocked at the shutdown and not knowing what to do next, they trooped to the head office of their company’s only client, Hasbro, a toy and board game company with its headquarters in California. They sat outside the World Trade Centre in Kharadi from about nine in the morning to three in the afternoon, but in vain. As around 100 employees of Prothom — a company that manufactures and assembles the toys that Hasbro deals in as claimed by its employees — waited outside the World Trade Centre hoping for justice. Further updates regarding the above press release are not available from any sources. Business is active. Payments seems to be slow. In view of aforesaid, dealings are recommended on safe and secured terms. |
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 22.02.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
|
Name : |
Mrs. Soniya Arun Chandrachud |
|
Designation : |
Director |
|
Contact No.: |
91-9823012303 |
|
|
|
|
Name : |
Mr. Samarjit Bose |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9822354121 |
|
Date : |
20.02.2018 |
Tel No.:91-20-66141300 (Not
Working)
LOCATIONS
|
Registered Office : |
Dynamic Logistics and Trade Park, Survey No. 78/1, Dighi, Talera
Nagar, Bhosari-Alandi Road, Pune – 411015, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9823012303 (Mrs. Soniya Arun Chandrachud) 91-9822354121 (Mr. Samarjit Bose) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Arun Madhusudan Chandrachud |
||||||||
|
Designation : |
Managing Director |
||||||||
|
Address : |
40 A, Vascon Paradise, S. No. 2/10, 3/10, Baner Road, Pune-411045, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
03.11.1963 |
||||||||
|
Date of Appointment : |
10.02.2014 |
||||||||
|
DIN No.: |
00118600 |
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Other Directorship:
|
|||||||||
|
|
|
||||||||
|
Name : |
Mrs. Soniya Arun Chandrachud |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
B-1102, Tiara, Ivory Estate, Baner Road, Pune-411007, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
02.02.1965 |
||||||||
|
Date of Appointment : |
10.02.2014 |
||||||||
|
DIN No.: |
05191248 |
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|
Other Directorship:
|
|||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.07.2016
|
Names of Shareholders |
No. of Shares |
|
Somitra Bose |
446138 |
|
Arun Madhusudan Chandrachud |
446000 |
|
Soniya Arun Chandrachud |
4000 |
|
Rup Chand Jain |
95964 |
|
Shirish Jain |
7382 |
|
Oliphans Capital |
80336 |
|
Haresh Chawla |
98153 |
|
Synthetic Fiberes Trading Company |
29527 |
|
Haresh Jhaveri |
26575 |
|
Sunil Diwakar |
21750 |
|
Dalal and Broacha Stock Broking Private Limited |
14764 |
|
Emkay Fincap Limited |
14764 |
|
Pranav Shah |
14764 |
|
Vikas Khemani |
11812 |
|
Sameer Palod |
9000 |
|
Ranganathan Ramachandran |
7382 |
|
Dhanpal Jhaveri |
5905 |
|
Kiran Maiar |
4429 |
|
Vivek Gupta |
2953 |
|
Abhay Aima |
2953 |
|
Ajit Shah |
2000 |
|
Total |
1346551 |
Equity Share Break up (Percentage of Total Equity)
As on 30.07.2016
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family-Indian) |
66.55 |
|
Public/Other than promoters (Individual/Hindu Undivided Family-Indian) |
23.10 |
|
Public/Other than promoters (Body corporate) |
10.35 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of games and toys. (Registered Activity) |
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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 : |
Not Divulged |
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|
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Imports : |
Not Divulged |
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|
|
||||||||
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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||||||||||||||||||||||||
|
Bankers : |
·
Axis Bank Limited, Branch At 214/215, City
Mall, 2nd Floor, Plot No.1, S.No.132, Ganesh Khind Road, Pune-411007, Maharashtra,
India |
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|
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Khandelkar and Associates Chartered Accountants |
|
Address : |
Saraswati Bhuvan, Sashkar Road, Tejpal Scheme Road No 5 Vile Parle, Pune-
411001, Maharashtra,
India |
|
Tel No.: |
91-22-26825327/ 26837756 |
|
Email : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAJPJ4328F |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
After 30.07.2016
Authorised Capital : INR 30.000 Million
Issued, Subscribed & Paid-up Capital : INR 13.478
Million
As on 30.07.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
INR 10/- each |
INR 30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1346551 |
Equity Shares |
INR 10/- each |
INR 13.465 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
13.465 |
0.317 |
0.100 |
|
(b) Reserves & Surplus |
58.644 |
(57.625) |
(9.879) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
22.300 |
22.300 |
15.640 |
|
Total
Shareholders’ Funds (1) + (2) |
94.409 |
(35.008) |
5.861 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
28.092 |
38.301 |
12.570 |
|
(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) |
28.092 |
38.301 |
12.570 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
105.775 |
110.239 |
0.000 |
|
(b) Trade
payables |
211.141 |
100.833 |
5.706 |
|
(c) Other
current liabilities |
23.320 |
14.826 |
0.291 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.771 |
|
Total Current
Liabilities (4) |
340.236 |
225.898 |
6.768 |
|
|
|
|
|
|
TOTAL |
462.737 |
229.191 |
25.199 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
160.938 |
146.300 |
13.270 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(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 |
160.938 |
146.300 |
13.270 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
83.187 |
25.767 |
0.000 |
|
(c) Trade
receivables |
73.080 |
16.771 |
0.000 |
|
(d) Cash
and cash equivalents |
25.859 |
0.823 |
0.824 |
|
(e)
Short-term loans and advances |
16.681 |
15.795 |
5.634 |
|
(f) Other
current assets |
102.992 |
23.735 |
5.471 |
|
Total
Current Assets |
301.799 |
82.891 |
11.929 |
|
|
|
|
|
|
TOTAL |
462.737 |
229.191 |
25.199 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
701.897 |
79.861 |
0.000 |
|
|
|
Other Income |
1.085 |
0.302 |
0.000 |
|
|
|
TOTAL
|
702.982 |
80.163 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials (Including
Packaging Material) Consumed |
299.970 |
36.758 |
0.209 |
|
|
|
Employees benefits expense |
58.208 |
24.08 |
3.829 |
|
|
|
Other expenses |
45.668 |
18.952 |
5.810 |
|
|
|
Direct Expenses |
238.920 |
39.710 |
0.000 |
|
|
|
TOTAL |
642.766 |
119.500 |
9.848 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
60.216 |
(39.337) |
(9.848) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
27.660 |
9.152 |
0.031 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION |
32.556 |
(48.489) |
(9.879) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
23.146 |
11.419 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
9.410 |
(59.908) |
(9.879) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
9.410 |
(59.908) |
(9.879) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
595.400 |
75.190 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Raw Materials |
43.500 |
4.529 |
NA |
|
|
|
TOTAL |
43.500 |
4.529 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (INR) |
6.99 |
(5991.00) |
(988.00) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
(14.854) |
(5.744) |
NA |
|
Net cash flows from (used in) operation |
(14.854) |
(5.744) |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
38.00 |
76.65 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
9.60 |
4.76 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
256.91 |
1001.25 |
9965.02 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.72 |
(1.53) |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.37 |
(0.27) |
(0.74) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.80 |
1.15 |
0.77 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.42 |
(4.24) |
2.14 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
3.60 |
(6.45) |
1.15 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.70 |
(4.18) |
2.26 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.18 |
(4.30) |
(317.68) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.34 |
(75.02) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
2.03 |
(26.14) |
(39.20) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
9.97 |
171.13 |
(168.55) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.89 |
0.37 |
1.76 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.64 |
0.25 |
1.76 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.20 |
(0.15) |
0.23 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
9.94 |
468.58 |
125.70 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.89 |
0.37 |
1.76 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
0.100 |
0.317 |
13.465 |
|
Reserves & Surplus |
(9.879) |
(57.625) |
58.644 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
15.640 |
22.300 |
22.300 |
|
Net
worth |
5.861 |
(35.008) |
94.409 |
|
|
|
|
|
|
long-term borrowings |
12.570 |
38.301 |
28.092 |
|
Short term borrowings |
0.000 |
110.239 |
105.775 |
|
Total
borrowings |
12.570 |
148.540 |
133.867 |
|
Debt/Equity
ratio |
2.145 |
(4.243) |
1.418 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
|
|
Sales |
|
79.861 |
701.897 |
|
|
|
|
778.898 |
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2015 |
31.03.2016 |
|
|
|
INR
In Million |
INR
In Million |
|
Sales |
|
79.861 |
701.897 |
|
Profit/(Loss) |
|
(59.908) |
9.410 |
|
|
|
(75.02)% |
1.34% |
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 |
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 about 2 years
and 5 months |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last about 2 years and 5
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 |
INDEX OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G43274547 |
100098378 |
CATALYST TRUSTEESHIP LIMITED |
08/03/2017 |
- |
- |
60000000.0 |
GDA HOUSE, FIRST FLOOR, PLOT NO. 85S. NO. 94 & 95, BHUSARI COLONY (RIGHT), KOTHRUD, PUNE-411038, MAHARASHTRA, INDIA |
|
2 |
G38288445 |
100084478 |
RBL BANK LIMITED |
05/01/2017 |
- |
- |
50000000.0 |
SHAHUPURI, KOLHAPUR, KOLHAPUR MAHARASHTRA 416001 INDIA |
|
3 |
G36261444 |
100037140 |
RBL BANK LIMITED |
01/06/2016 |
05/01/2017 |
- |
260000000.0 |
SHAHUPURI, KOLHAPUR, KOLHAPUR MAHARASHTRA 416001 INDIA |
|
4 |
C20161832 |
10519432 |
PUNJAB NATIONAL BANK |
30/07/2014 |
- |
- |
50000000.0 |
95/A HARI SADAN VIJAY LAXMI APARTMENTS PRABHAT ROAD DECCAN GYMKHANA PUNE MAHARASHTRA 411004 INDIA |
|
5 |
G06529283 |
10611737 |
Axis Bank Limited |
23/12/2015 |
- |
16/06/2016 |
96000000.0 |
BRANCH AT 214/215,CITY MALL, 2ND FLOOR PLOT NO.1, S.NO.132, GANESH KHIND ROAD PUNE MAHARASHTRA 411007 INDIA |
FIXED ASSETS
- Building
- Furniture and
fixture
- Plant and
machinery
- Moulds
- Computer
- Electric
fitting
WEBSITE DETAILS
DATE: 12.08.2017
PRESS RELEASE / NEWS
TOY COMPANY LOCKS UP
FACTORY, LEAVES WORKERS IN A LIMBO
Employees say they weren’t paid for five months; suppliers approach cops, but they refuse to file complaint about owners
Hundreds of employees from Prothom Industries India Pvt. Ltd reached work on Friday morning, only to find their factory gate at Bhosari-Alandi Road locked. Shocked at the shutdown and not knowing what to do next, they trooped to the head office of their company’s only client, Hasbro, a toy and board game company with its headquarters in California. They sat outside the World Trade Centre in Kharadi from about nine in the morning to three in the afternoon, but in vain.
As around 100 employees of Prothom — a company that manufactures and assembles the toys that Hasbro deals in as claimed by its employees — waited outside the World Trade Centre hoping for justice, one of the employees told Mirror on condition of anonymity, “We have already not been paid for the last five months. Now, if the company shuts down, what are we supposed to do? We have families to look after, bills to pay and loans to clear. The management has not even been answering our phone calls. At least, we have the right to know what the issue is and why it has shut down. The management cannot just run away with our hard-earned money.”
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 records 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 |
INR 64.53 |
|
|
1 |
INR 79.86 |
|
Euro |
1 |
INR 90.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.