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MIRA INFORM REPORT
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Report No. : |
484327 |
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Report Date : |
18.01.2018 |
IDENTIFICATION DETAILS
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Name : |
HATWAR SERVICES |
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Registered
Office : |
At PO Radhakrushnan Ward, Ramtek, Nagpur-441106, Maharashtra |
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Mobile No.: |
91-9767716263/ 8180986463 [Mr. Chetan U Hatwar] |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Year of
Establishment : |
2006 |
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Capital
Investment : |
Not Divulged |
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IEC No.: |
Not Applicable [As informed by the management that firm does
not have export and import] |
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TIN No.: |
Not Divulged |
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GST No.: |
Not Divulged |
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PAN No.: [Permanent Account No.] |
Not Divulged |
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Legal Form : |
Sole Proprietary Concern |
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Line of Business
: |
Providing Financial Services. [Confirmed by Management] |
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No. of Employees
: |
06 [Approximately] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Maximum Credit Limit : |
USD 1429 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was established in the year 2006 as a proprietorship firm and it is having moderate track. It is engaged in providing finance services. Mr. Chetan Hatwar (Proprietor) has provided general information and revenue figure for the (FY 2015-16 as INR 5 million, FY 2016-17 as INR 5 million and expected in FY 2017-18 as INR 6 million). However financials could not be verified from any sources. Rating is constrained on account of modest scale of revenue profile. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The firm can be considered for business dealings with some caution. NOTE: Site visit was conducted the address of “At Po Radhrakrushnan Ward Ramtek, Nagpur 441106”. Our executive has found “Hatwar Engineering Works” on the given address. At the premises our executive met to Mr. Chandrashekhar Hatwar (Owner of Hatwar Engineering Works) and confirmed that it is sister concern as well as claimed that given address is the registered address of “Hatwar Services”. As per our executive observation, location of the firm is easy to find. Landmark was near Tehsil Office. It is 2 storey building and firm situated on ground floor. Locality appears to be commercial. Area seems to be neutral. Area of the premises was 500 (SQ.FT.) and 01 employee was sighted into premises. Name board of the firm was not sighted at the given address, instead of that name board of sister concern i.e. “Hatwar Engineering Works” was found. Further, another site visit was conducted at the head office address of the firm i.e. New St Stand to Bypass Kits College Road, Near Gurukul Nagar, Care of Hatwar Automobile, Ramtek, Nagpur-441106 where our executive has successfully traced the firm. At the premises our executive met to Mr. Chetan Hatwar (Proprietor) of the firm and he provided contact details i.e. (9767716263/ 818098463) and email id along with confirmed that operational activity done from head office address. As per our executive observation, location of the firm is easy to find. Landmark was near Hotel Food Point. It is a shop type premises. Locality appears to be commercial. Area seems to be neutral. Area of the premises was 1500 (SQ.FT.) and 04 employees were sighted into premises. Again Name board of the firm was not sighted at the head office address, instead of that name board of sister concern i.e. “Hatwar Automobile” was sighted. Our executive inquired from local people and neighbours and they were also aware about the “Hatwar Services”. Further, on the both registered and head office address our executive found existence of “Hatwar Services” but name board of the same was not sighted. |
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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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
31-03-2016.
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 18.01.2018
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 PARTED BY
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Name : |
Mr. Chetan Umashankar Hatwar |
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Designation : |
Proprietor |
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Contact No.: |
91-9767716263/ 8180986463 |
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Date : |
17.01.2018 |
LOCATIONS
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Registered Office : |
At PO Radhakrushnan Ward, Ramtek, Nagpur-441106, Maharashtra, India |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9767716263/ 8180986463 [Mr. Chetan U Hatwar] |
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Fax No.: |
Not Available |
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E-Mail : |
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Area: |
500 [Sq. Ft.] [As per Site Visit] |
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Locality: |
Commercial [As per Site Visit] |
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Head Office : |
New ST Stand to By Pass Kits College Road, Near Gurukul Nagar, Care of
Hatwar Automobile, Ramtek, Nagpur-441106, Maharashtra, India |
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Area: |
1500 [Sq. Ft.] [As per Site Visit] |
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Locality: |
Commercial [As per Site Visit] |
SOLE PROPRIETOR
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Name : |
Mr. Chetan Umashankar Hatwar |
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Designation : |
Proprietor |
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Date of Birth/ Age: |
31 Years |
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Aadhar No.: |
620244845742 |
BUSINESS DETAILS
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Line of Business : |
Providing Financial Services. [Confirmed by Management] |
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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 : |
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Selling : |
Advance Payment, Cheque and Others [RTGS] |
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Purchasing : |
Advance Payment, Cheque and Others [RTGS] |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
06 [Approximately] |
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Bankers : |
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Auditors : |
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Name : |
Mr. Kishor Varma Chartered Accountant |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Sister Concerns : |
·
Hatwar Engineering Work Address: At PO Radhakrushnan Ward, Ramtek,
Nagpur-441106, Maharashtra, India ·
Hatwar Automobiles Address: New ST Stand to
By Pass Kits College Road, Near Gurukul Nagar, Care of Hatwar Automobile,
Ramtek, Nagpur-441106, Maharashtra, India |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
Not Divulged |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
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PARTICULARS |
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31.03.2017 |
31.03.2016 |
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Sales Turnover (Approximately) |
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5.000 |
5.000 |
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Expected Sales (2017-2018): INR 6.000 Million
The above information has been parted by Mr. Chetan U. Hatwar
[Proprietor]
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
FINANCIAL ANALYSIS
[all figures are
in INR Million]
YEAR-ON-YEAR GROWTH
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Year
on Year Growth |
31.03.2016 |
31.03.2017 |
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INR
In Million |
INR
In Million |
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Sales (Approximately) |
5.000 |
5.000 |
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0.000 |
LOCAL AGENCY FURTHER INFORMATION
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Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
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1 |
Year of establishment |
Yes |
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2 |
Constitution of the entity -Incorporation
details |
Yes |
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3 |
Locality of the entity |
Yes |
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4 |
Premises details |
Yes |
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5 |
Buyer visit details |
Yes |
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6 |
Contact numbers |
Yes |
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7 |
Name of the person contacted |
Yes |
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8 |
Designation of contact person |
Yes |
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9 |
Promoter’s background |
Yes |
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10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
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11 |
Pan Card No. of Proprietor / Partners |
Yes |
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12 |
Voter Id Card No. of Proprietor / Partners |
No |
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13 |
Type of business |
Yes |
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14 |
Line of Business |
Yes |
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15 |
Export/import details (if applicable) |
No |
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16 |
No. of employees |
Yes |
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17 |
Details of sister concerns |
Yes |
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18 |
Major suppliers |
No |
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19 |
Major customers |
No |
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20 |
Banking Details |
Yes |
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21 |
Banking facility details |
No |
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22 |
Conduct of the banking account |
-- |
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23 |
Financials, if provided |
No |
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24 |
Capital in the business |
No |
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25 |
Last accounts filed at ROC, if applicable |
No |
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26 |
Turnover of firm for last two years |
Yes |
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27 |
Reasons for variation <> 20% |
-- |
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28 |
Estimation for coming financial year |
Yes |
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29 |
Profitability for last three years |
No |
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30 |
Major shareholders, if available |
No |
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31 |
External Agency Rating, if available |
No |
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32 |
Litigations that the firm/promoter
involved in |
-- |
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33 |
Market information |
-- |
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34 |
Payments terms |
Yes |
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35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OBSERVATION POINTS
SITE VISIT 1
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Name of Company : |
HATWAR SERVICES |
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Address : |
At PO Radhakrushnan Ward, Ramtek, Nagpur-441106, Maharashtra,
India |
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Date of Visit : |
09.01.2018 |
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Person to whom we met: |
Mr. Chandrashekar Hatwar [Owner of Hatwar Engineering Works] |
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Name Board : |
Not Sighted [Sighted Name board of Sister Concern i.e. Hatwar Engineering Works] |
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Location: |
Easy |
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Landmark (If Any): |
Near Tehsil Office |
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Total Floors of the Building : |
Ground + 2 Floors |
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Subject situated on: |
Ground Floor |
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Locality: |
Commercial |
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Area of Premises : |
500 [Sq. Ft.] |
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Area : |
Neutral |
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No. of employees seen at premises: |
01 [Approximately] |
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Proof of visit: |
Photos |
SITE VISIT 2
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Name of Company : |
HATWAR SERVICES |
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Address : |
New ST Stand to By Pass Kits College Road, Near Gurukul Nagar, Care of
Hatwar Automobile, Ramtek, Nagpur-441106, Maharashtra, India |
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Contact No.: |
91-9767716263/ 8180986463 |
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Date of Visit : |
15.01.2018 |
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Person to whom we met: |
Mr. Chetan Hatwar [Proprietor] |
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Name Board : |
Not Sighted [Sighted Name board of Sister Concern i.e. Hatwar Automobile] |
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Location: |
Easy |
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Landmark (If Any): |
Hotel Food Point |
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Total Floors of the Building : |
Ground Floor [Shop Type Premises] |
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Subject situated on: |
Ground Floor [Shop Type Premises] |
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Locality: |
Commercial |
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Area of Premises : |
1500 [Sq. Ft.] |
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Area : |
Neutral |
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No. of employees seen at premises: |
04 [Approximately] |
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Visibility of Items: |
·
Air Conditioner ·
Office Equipment |
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Proof of visit: |
Photos |
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 63.98 |
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|
1 |
INR 88.13 |
|
Euro |
1 |
INR 78.35 |
INFORMATION DETAILS
|
Information Gathered
by : |
SAV |
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Analysis Done by
: |
PRS |
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Report Prepared
by : |
RUP |
SCORE FACTORS
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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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 |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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.
·