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|
MIRA INFORM REPORT
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Report No. : |
494266 |
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Report Date : |
24.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
CAPRICORN LOGISTICS PRIVATE LIMITED |
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Registered
Office : |
13 and 13A, Keytuo Industrial Estate, 220 Kondivita Road, Andheri (East), Mumbai - 400059, Maharashtra |
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Mobile No.: |
91-9656002505 (Mr. Jayaprakash K) 91-9656002502 (Mr. Rajesh Kumar) |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
17.10.2001 |
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Com. Reg. No.: |
11-133716 |
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Capital
Investment / Paid-up Capital : |
INR 50.000 Million |
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CIN No.: [Company Identification
No.] |
U63090MH2001PTC133716 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCC6364M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company provides integrated solutions to supply chain
management globally. It also provides services of freight forwarding and
custom clearances. (Registered
Activity) |
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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 : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Maximum Credit Limit : |
USD 1200000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2001. It provides integrated solutions to supply chain management globally. It also provides services of freight forwarding and custom clearances. As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to the financial for the year 31.03.2016 and 31.03.2017 are not available from any sources. As per the available financial of 2015, the company has achieved a fair growth in its revenue as compared to previous year and has reported a low net profit margin. The company possesses healthy financial profile marked by above average networth base, fair cash position and low debt balance sheet profile. Rating is constrained is on account of absence of latest financial records of the company. The High Court has refused to revoke the temporary cancellation of license of a customs brokerage house whose high-ranking official is suspected of helping shell companies claim fake exports. The company claimed relief on grounds that it had not been given an opportunity to present its case and it was being punished for the wrongs of its employee. It sought permission to carry on its business while the case was pending. The HC however said that leniency in such a case was not warranted. The Commissioner of Customs, Bengaluru, on November 13, suspended the operations of the Capricorn Logistics Private Ltd with immediate effect. The Commissioner based the order on investigations that showed that several persons including Mohamed Zubril, Ravindranath Tagore, Subramaina Bharathi, Amritha Priya Rammohan and others had floated fictitious firms which claimed to have exported goods. They later claimed post export benefits from the government. Prabhu M, a senior executive in Capricorn Logistics was “actively involved in getting the customs clearance of the exports of the above said fraudulent exporters. He also appears to be aware of the nature of the cargo and failed to report the same to the customs” the department claimed and also suspected he was in it for monetary consideration. Based on this investigative information, Capricorn Logistics was suspended from its business. The company challenged this in the HC on the grounds that no notice was issued to it to explain its case before the Customs Department passed its order. The HC said that it would not comment on the facts. “This Court would not like to comment upon the facts of the present case, as the matter appears to be still pending under investigation.” The court said the manner in which the shell companies or the paper companies are created to ‘show’ the export or goods on the fake documents, which leads up to the claim of the duty drawbacks, which empties the treasury of the Government, by draining out the public money does not require any of its sympathy. Dismissing the petition, the HC said, “The ban in such cases on the Customs Brokers, who are the real identified persons before the Customs authorities and whose activities leads to such tax evasion in the name of such shell companies may be the real persons who were doing all this in the name of such companies.” Business is active. Payment seems to be slow. In view of aforesaid, 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.
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 |
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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 24.02.2018
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 / PARTIAL DETAILS BY
|
Name : |
Mr. Jayaprakash K |
|
Designation : |
Not Divulged |
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Contact No.: |
91-9656002505 |
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|
Name : |
Mr. Rajesh Kumar |
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Designation : |
Not Divulged |
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Contact No.: |
91-9656002502 |
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Date : |
24.02.2018 |
LOCATIONS
|
Registered Office : |
13 and 13A, Keytuo Industrial Estate, 220 Kondivita Road, Andheri (East), Mumbai -400059, Maharashtra |
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Tel. No.: |
91-22-40706000 |
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Mobile No.: |
91-9656002505 (Mr. Jayaprakash K) 91-9656002502 (Mr. Rajesh Kumar) |
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Fax No.: |
91-22-40706199 |
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E-Mail : |
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Website: |
DIRECTORS
AS ON 31.03.2017
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Name : |
Sheetal Sadanand Shetty |
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Designation : |
Managing Director |
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Address : |
502, Corner Stone, Filmcity Road, Dindoshi, Malad East, Mumbai - 400062 , Maharashtra, India |
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Date of Birth/Age : |
01.01.1969 |
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Date of Appointment : |
17.10.2001 |
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DIN No.: |
01682503 |
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Other directorship:
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Name : |
Mr. Sadanand Narayan Shetty |
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Designation : |
Director |
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Address : |
Flat No. 502, Corner Stone, Filmcity Road, Next To Dhindoshi Bus Depot, Malad East, Mumbai -400067, Maharashtra, India |
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Date of Birth/Age : |
16.03.1936 |
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Date of Appointment : |
17.10.2001 |
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DIN No.: |
01752063 |
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Other directorship:
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Name : |
Mr. Thomas Alvares |
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Designation : |
Director |
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Address : |
Flat No. B/104, 1st Floor, Udyan No. 1, B Wing, Village Taluka Kurla, Off Military Road, Andheri-East, Mumbai - 400072, Maharashtra, India |
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Date of Birth/Age : |
26.02.1971 |
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Date of Appointment : |
17.10.2001 |
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DIN No.: |
01752926 |
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Other directorship:
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KEY EXECUTIVE
|
Name : |
Ajay Arvind Vaishampayan |
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Designation : |
Company Secretary |
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Address : |
B - 10, 2nd Floor, Swachhand Society, Ghodekhot Ali, Tilak Chowk, Kalyan West, Thane - 421301, Maharashtra, India |
|
Date of Appointment : |
02.08.2016 |
|
PAN No.: |
AJDPV4812F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Sadanand Narayan Shetty |
1625000 |
32.50 |
|
Sheetal Sadanand Shetty |
1750000 |
35.00 |
|
Thomas Francis Alvares |
1202500 |
24.05 |
|
Kalyan Nawpute |
422500 |
8.45 |
|
Total |
5000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters –
Individual/Hindu Undivided Family – Indian |
91.55 |
|
Public-Other than
promoters - Individual/Hindu Undivided Family – Indian |
8.45 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company provides integrated solutions to supply chain management
globally. It also provides services of freight forwarding and custom
clearances. (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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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
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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Facilities : |
(INR
In Million)
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Auditors : |
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|
Name : |
Vora Jayesh Suryakant Chartered Accountants |
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Address : |
E/1002, 10th Floor, Marathon Cosmos, LBS Marg, Mulund West, Mumbai – 400080, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAEPV7742C |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary company
(AS ON 31.03.2015): |
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Others (AS ON
31.03.2015): |
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CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
INR 10/- each |
INR 80.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000
Million |
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|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
50.000 |
50.000 |
50.000 |
|
(b) Reserves & Surplus |
357.361 |
337.247 |
313.938 |
|
(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) |
407.361 |
387.247 |
363.938 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
114.220 |
96.407 |
54.975 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.038 |
|
(c) Other long term
liabilities |
8.615 |
7.721 |
5.845 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
122.835 |
104.128 |
60.858 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
121.733 |
246.085 |
284.879 |
|
(b) Trade payables |
697.596 |
716.851 |
687.862 |
|
(c) Other current liabilities |
287.416 |
278.006 |
194.668 |
|
(d) Short-term provisions |
46.740 |
33.336 |
25.942 |
|
Total
Current Liabilities (4) |
1153.485 |
1274.278 |
1193.351 |
|
|
|
|
|
|
TOTAL |
1683.681 |
1765.653 |
1618.147 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
135.131 |
243.822 |
249.365 |
|
(ii) Intangible Assets |
1.653 |
6.753 |
9.541 |
|
(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 |
89.204 |
88.612 |
82.467 |
|
(c) Deferred tax assets (net) |
8.476 |
0.786 |
0.000 |
|
(d) Long-term Loan and Advances |
10.844 |
10.179 |
16.470 |
|
(e) Other Non-current assets |
15.510 |
10.177 |
6.603 |
|
Total
Non-Current Assets |
260.818 |
360.329 |
364.446 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
81.479 |
85.587 |
17.030 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
1091.849 |
1073.909 |
976.365 |
|
(d) Cash and cash equivalents |
14.704 |
16.589 |
23.272 |
|
(e) Short-term loans and
advances |
227.275 |
223.595 |
235.420 |
|
(f) Other current assets |
7.556 |
5.644 |
1.614 |
|
Total
Current Assets |
1422.863 |
1405.324 |
1253.701 |
|
|
|
|
|
|
TOTAL |
1683.681 |
1765.653 |
1618.147 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
3791.757 |
3421.217 |
|
|
|
Other Income |
15.037 |
7.125 |
|
|
|
TOTAL
|
3806.794 |
3428.342 |
3619.275 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits expense |
276.045 |
238.957 |
236.579 |
|
|
Other expenses |
3382.905 |
3038.144 |
3228.149 |
|
|
TOTAL
|
3658.950 |
3277.101 |
3464.728 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
147.844 |
151.241 |
154.547 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
64.704 |
87.191 |
68.289 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
83.140 |
64.050 |
86.258 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
33.994 |
28.978 |
32.365 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
49.146 |
35.072 |
53.893 |
|
|
|
|
|
|
|
Less |
TAX |
15.472 |
11.763 |
15.606 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
33.674 |
23.309 |
38.287 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
6.73 |
4.66 |
NA |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
43.167 |
65.252 |
55.508 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
184.965 |
180.538 |
184.460 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
105.10 |
114.57 |
NA |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.47 |
3.19 |
NA |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.08 |
0.60 |
0.60 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.78 |
0.81 |
0.81 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.69 |
1.05 |
1.09 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.83 |
3.29 |
3.28 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.34 |
0.65 |
0.71 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.28 |
1.73 |
2.26 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.89 |
0.68 |
1.06 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.00 |
1.32 |
2.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
8.27 |
6.02 |
10.52 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.23 |
1.10 |
1.05 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.23 |
1.10 |
1.05 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.24 |
0.22 |
0.22 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
5.58 |
8.15 |
7.91 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.23 |
1.10 |
1.05 |
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 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
50.000 |
50.000 |
50.000 |
|
Reserves & Surplus |
313.938 |
337.247 |
357.361 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
363.938 |
387.247 |
407.361 |
|
|
|
|
|
|
long-term borrowings |
54.975 |
96.407 |
114.220 |
|
Short term borrowings |
284.879 |
246.085 |
121.733 |
|
Current maturities of
long-term debts |
55.508 |
65.252 |
43.167 |
|
Total
borrowings |
395.362 |
407.744 |
279.120 |
|
Debt/Equity
ratio |
1.086 |
1.053 |
0.685 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Total Income |
3619.275 |
3428.342 |
3806.794 |
|
|
|
(5.275) |
11.039 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Total Income |
3619.275 |
3428.342 |
3806.794 |
|
Profit |
38.287 |
23.309 |
33.674 |
|
|
1.06% |
0.68% |
0.88% |
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 |
No |
|
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 |
Yes |
|
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 |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS AND BUSINESS
PERFORMANCE (AS ON 31.03.2015)
The Company has achieved a turnover of INR 3806.794 Million Profit before tax is INR 49.146 Million whereas Profit after tax is INR 33.674 Million. The earnings per share is INR 6.73/- during the year.
CORPORATE INFORMATION
(AS ON 31.03.2015)
Subject is a private limited company incorporated in 2001. The Company provides integrated solutions to supply chain management globally. It also provides services of freight forwarding and custom clearances. It has the branches across the country and outside India.
UNSECURED LOAN
(INR
In Million)
|
Particulars |
As
on 31.03.2015 |
As
on 31.03.2014 |
|
LONG TERM
BORROWING |
|
|
|
Other loans and advances |
6.818 |
0.000 |
|
Term loans from banks |
12.416 |
0.000 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from directors |
10.308 |
6.816 |
|
Loans and advances from others |
1.886 |
1.854 |
|
Other loans and advances, others |
0.000 |
9.682 |
|
Total |
31.428 |
18.352 |
INDEX
OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G00627711 |
100018564 |
HDFC BANK LIMITED |
03/12/2015 |
- |
- |
855000.0 |
HDFC BANK LIMITED,
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WESTMUMBAIMH400013IN |
|
2 |
C62507215 |
10588535 |
HDFC BANK LIMITED |
09/05/2015 |
- |
- |
3300000.0 |
HDFC BANK
HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
3 |
C33228925 |
10530618 |
AXIS BANK LIMITED |
21/10/2014 |
- |
- |
10000000.0 |
TRISHUL 3RD FLOOR
OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN |
|
4 |
A92990407 |
10250400 |
HDFC BANK LIMITED |
28/06/2010 |
- |
- |
328000.0 |
HDFC BANK HOUSESENAPATI
BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
5 |
G61458709 |
10169617 |
YES BANK LIMITED |
27/07/2009 |
04/09/2017 |
- |
300000000.0 |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMA400018IN |
|
6 |
Y10248940 |
90149170 |
GE CAPITAL TFS
LTD. |
24/11/2004 |
- |
- |
1308000.0 |
4; LINK
ROADJUNGPURA EXTN.NEW DELHIDL110014IN |
|
7 |
G06910830 |
10243073 |
KOTAK MAHINDRA
BANK LIMITED |
23/08/2010 |
19/11/2012 |
09/06/2016 |
470000000.0 |
36-38A, NARIMAN BHAVAN,
227,D,NARIMAN POINT,MUMBAIMH400021IN |
|
8 |
A94366655 |
10129482 |
IDBI BANK LIMITED |
06/10/2008 |
- |
09/09/2010 |
50000000.0 |
MARIGOLD HOUSE,
PLOT NO.A-34,CROSS ROAD NO.2, MAROL, MIDC, ANDHRI (E),MUMBAIMH400093IN |
|
9 |
A93697605 |
90148645 |
STATE BANK OF
INDIA |
24/03/2004 |
24/12/2008 |
23/08/2010 |
230000000.0 |
MID CORPORATE LOAN
ADMIN. UNIT, SHRI HARI BUILDINGRTO LANE, FOUR BUNGALOWS, ANDHERI
(WEST)MUMBAIMH400053IN |
|
10 |
Y10247707 |
90147937 |
BANK OF BARODA |
11/05/2002 |
21/05/2002 |
20/03/2004 |
7200000.0 |
MALAD WEST BRANCH;
SV ROADMALAD WESTMUMBAIMH400064IN |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Office equipment
- Vehicles
- Computer equipments
Intangible assets
- Computer software
WEBSITE DETAIL
PRESS RELEASES
NO SYMPATHY FOR ‘FAKE
EXPORTER’
HC refuses to revoke cancellation of licence of a customs
broker whose official helped shell companies claim fake exports
The High Court has refused to revoke the temporary cancellation of licence of a
customs brokerage house whose high-ranking official is suspected of helping
shell companies claim fake exports. The company claimed relief on grounds that
it had not been given an opportunity to present its case and it was being
punished for the wrongs of its employee.
It sought permission to carry on its business while the case was pending. The
HC however said that leniency in such a case was not warranted.
“A lenient and conveniently held out tool of ground of natural justice cannot
be used to protect those who have indulged in gross violation of Regulations
and Rules and which has resulted in evasion of tax and duties and has caused
revenue loss,” the court said. The court said there would be more damage to the
society if the company was shown leniency. “The protection, relief and quashing
of the impugned orders in such cases on a misplaced sympathy can cause more
damage to the society than even protecting the semblance of legal rights the
petitioners may have,” it said.
The Commissioner of Customs, Bengaluru, on November 13, suspended the
operations of the Capricorn Logistics Private Ltd with immediate effect. The
Commissioner based the order on investigations that showed that several persons
including Mohamed Zubril, Ravindranath Tagore, Subramaina Bharathi, Amritha
Priya Rammohan and others had floated fictitious firms which claimed to have
exported goods. They later claimed post export benefits from the government.
Read Also:
Prabhu M, a senior executive in Capricorn Logistics was “actively involved in
getting the customs clearance of the exports of the above said fraudulent
exporters. He also appears to be aware of the nature of the cargo and failed to
report the same to the customs” the department claimed and also suspected he
was in it for monetary consideration. Based on this investigative information,
Capricorn Logistics was suspended from its business.
The company challenged this in the HC on the grounds that no notice was issued
to it to explain its case before the Customs Department passed its order. The
HC said that it would not comment on the facts. “This Court would not like to
comment upon the facts of the present case, as the matter appears to be still
pending under investigation.” The court said the manner in which the shell
companies or the paper companies are created to ‘show’ the export or goods on
the fake documents, which leads up to the claim of the duty drawbacks, which
empties the treasury of the Government, by draining out the public money does
not require any of its sympathy.
Dismissing the petition, the HC said, “The ban in such cases on the Customs
Brokers, who are the real identified persons before the Customs authorities and
whose activities leads to such tax evasion in the name of such shell companies
may be the real persons who were doing all this in the name of such companies.”
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
|
INR |
|
US Dollar |
1 |
INR 64.82 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
YES |
|
--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.