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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

486708

Report Date :

18.01.2018

 

IDENTIFICATION DETAILS

 

Name :

TW SHIP MANAGEMENT PRIVATE LIMITED

 

 

Registered Office :

4th Floor Himalayas, Geetamala Complex, Near Shah Industrial Estate, Govandi (East), Mumbai – 400088, Maharashtra

Tel. No.:

91-22-42476200

 

 

Country :

India

 

 

Financials (as on) :

31.03.2016

 

 

Date of Incorporation :

17.12.2015

 

 

Com. Reg. No.:

11-271107

 

 

Capital Investment / Paid-up Capital :

INR 2.000 Million

 

 

CIN No.:

[Company Identification No.]

U74120MH2015PTC271107

 

 

IEC No.:

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAFCT5863L

 

 

GSTIN :

Not Divulged

 

 

Legal Form :

Private Limited Liability Company.

 

 

Line of Business :

Subject is engaged in the business of Ship Management i.e. Providing Technical Consultancy Services and Crew Management Services and Purchase Management Services to Ship Owners, Charterers, etc.

 

  • Technical Management Services ensures vessels are operational round the year with near off-hire time.
  • Crew Management Services includes recruitment of seafarers in accordance with international standards, STCW '95 and ISM Code.
  • Purchase management services encompass timely supply of quality stores and spares at competitive prices

 

(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 :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

Maximum Credit Limit :

USD 5500

 

 

Status :

Moderate 

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2015.

 

It is engaged in the business of ship management i.e. providing technical consultancy services and crew management services and purchase management services to ship owners, charters, etc.

 

Management has failed to file its financials with the Registrar of Companies for the FY 2017.

 

Mr. Samuel (Senior Manager of Accounts and Finance) denied to provide any information about the subject to us.

 

For the financial year 2016, the company has not earned any income from its operations.

 

The moderate financial risk profile of the company is marked by negative reserve base.

 

Rating takes into consideration the subject’s debt free balance sheet profile of the company.

 

Payments are reported to be unknown.

 

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

(30.06.2017)

Current Rating

(30.09.2017)

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

 

 

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 DENIED BY

 

Name :

Mr. Samuel

Designation :

Senior Manager of Accounts and Finance

Contact No.:

91-22-42476200

Date :

17.01.2018

 

 

LOCATIONS

 

Registered Office :

4th Floor Himalayas, Geetamala Complex, Near Shah Industrial Estate, Govandi (East), Mumbai – 400088, Maharashtra, India

Tel. No.:

91-22-42476200

Mobile No.:

91-9820013460 (Mr. Satish Kumar Pillania)

91-9820067259 (Mr. Raghavan Kannan Nambiar)

91-9820539449 (Ms. Geeta Ramakrishnan Iyer)

Fax No.:

91-22-67975213

E-Mail :

ritesh@transworld.com

info.twsm@transworld.com

satish.twsm@transworld.com

geeta@transworld.com

namblar.albamum@transworld.com 

Website :

http://www.transworld.com

 


 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Satish Kumar Pillania

Designation :

Additional Director

Address :

Flat No. 301, Tower No. 10, Sea Breeze CHS, Sector 16, Nerul, Navi Mumbai – 400706, Maharashtra, India

Date of Birth/Age :

02.02.1963

Date of Appointment :

05.10.2017

PAN No.:

ABPPP1499N

Passport No.:

Z3139192

DIN No.:

03233212

 

 

Name :

Mr. Raghavan Kannan Nambiar

Designation :

Director

Address :

Row House, Raagam, Plot No. E/136, Sector No. 12, Kharghar, Navi Mumbai – 410210, Maharashtra, India

Date of Birth/Age :

30.12.1952

Date of Appointment :

17.12.2015

PAN No.:

AACPN1535H

Passport No.:

Z1972920

DIN No.:

07153341

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U51900MH1985PTC037871

TRIDENT TRADING PVT LTD

29/09/2015

-

U61100MH1991PTC060411

CLARION SOLUTIONS PRIVATE LIMITED

29/09/2015

-

U67190MH1992PLC068968

TRANSCORP FINANCE LIMITED

29/09/2015

-

U35110MH1994PLC077668

ADMEC LOGISTICS LIMITED

29/09/2015

-

U71120TN1993PLC025476

TRANSWORLD LOGISTICS LIMITED

30/09/2015

-

U52599TN1996PTC035012

TEJAS OIL PRIVATE LIMITED

30/09/2015

-

U74900MH2014PTC259556

7SIXFIVE SERVICES PRIVATE LIMITED

19/09/2015

-

U63090MH2005PTC156248

TLPL LOGISTICS PRIVATE LIMITED

29/09/2015

-

U74900MH2015FTC269543

BSL FREIGHT SOLUTIONS PRIVATE LIMITED

24/10/2015

-

U74900MH2015PTC270882

TRANSWORLD SHIPPING AGENCIES PRIVATE LIMITED

10/12/2015

-

U74999MH2016PTC283145

TRANSWORLD FEEDERS PRIVATE LIMITED

01/07/2016

-

 

 

Name :

Ms. Geeta Ramakrishnan Iyer

Designation :

Director

Address :

Villa-A.8-1705, D.I.P First @ Green Community, West Premise Number: 598032320, Residential V Illa, Dubai 261036, United Arab Emirates

Date of Birth/Age :

18.04.1964

Date of Appointment :

17.12.2015

PAN No.:

AAAPI5547E

Passport No.:

Z2699431

DIN No.:

07324835

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U74900MH2015PTC270882

TRANSWORLD SHIPPING AGENCIES PRIVATE LIMITED

10/12/2015

-

U74999MH2016PTC283145

TRANSWORLD FEEDERS PRIVATE LIMITED

01/07/2016

-

 

 

KEY EXECUTIVES

 

Name :

Mr. Samuel

Designation :

Senior Manager of Accounts and Finance

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 31.03.2016

 

Names of Shareholders

No. of Shares

%age of holding

Sivaswamy Ramakrishnan

100000

50.00

Jitesh Ramakrishnan

100000

50.00

 

 

 

Total

200000

100.00

 

 


 

Equity Share Break up (Percentage of Total Equity)

 

As on 27.12.2016

 

Category

Percentage

Promoter – (Individual/ Hindu Undivided Family – Indian)

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the business of Ship Management i.e. Providing Technical Consultancy Services and Crew Management Services and Purchase Management Services to Ship Owners, Charterers, etc.

 

  • Technical Management Services ensures vessels are operational round the year with near off-hire time.
  • Crew Management Services includes recruitment of seafarers in accordance with international standards, STCW '95 and ISM Code.
  • Purchase management services encompass timely supply of quality stores and spares at competitive prices

 

(Registered activity)

 

 

Products :

Item Code No.

Product Description

99831169

Other management consulting services

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Bank Name

Not Divulged

Branch

--

Person Name (With Designation)

--

Contact Number

--

Name of Account Holder

--

Account Number

--

Account Since (Date/Year of Account Opening)

--

Average Balance Maintained (If Possible)

--

Credit Facilities Enjoyed (If any)

--

Account Operation

--

Remarks (If any)

--

 

Auditors :

 

Name :

K. L. Murty and Company

Chartered Accountants

Address :

3/7/14 A, Navjivan Comm. Society, Dr. Dadasaheb Bhadkamkar Marg, Mumbai – 400008, Maharashtra, India

Tel. No.:

91-22-23097434 / 23084919

Fax No.:

91-22-23085815

E-Mail :

murtyuma@gmail.com

Memberships No.:

016634

PAN N Income-tax PAN of auditor or auditor's firm :

AAAPK9477B

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

As on 31.03.2016

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

200000

Equity Shares

INR 10/- each

INR 2.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

200000

Equity Shares

INR 10/- each

INR 2.000 Million

 

 

 

 

 


 

FINANCIAL DATA

[all figures are in INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2016

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

 

2.000

(b) Reserves & Surplus

 

 

(0.083)

(c) Money received against share warrants

 

 

0.000

 

 

 

 

(2) Share Application money pending allotment

 

 

0.000

Total Shareholders’ Funds (1) + (2)

 

 

1.917

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

 

0.000

(b) Deferred tax liabilities (Net)

 

 

0.000

(c) Other long term liabilities

 

 

0.000

(d) long-term provisions

 

 

0.000

Total Non-current Liabilities (3)

 

 

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

 

0.000

(b) Trade payables

 

 

0.051

(c) Other current liabilities

 

 

0.000

(d) Short-term provisions

 

 

0.000

Total Current Liabilities (4)

 

 

0.051

 

 

 

 

TOTAL

 

 

1.968

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

 

0.000

(ii) Intangible Assets

 

 

0.000

(iii) Capital work-in-progress

 

 

0.000

(iv) Intangible assets under development

 

 

0.000

(b) Non-current Investments

 

 

0.000

(c) Deferred tax assets (net)

 

 

0.000

(d)  Long-term Loan and Advances

 

 

0.000

(e) Other Non-current assets

 

 

0.000

Total Non-Current Assets

 

 

0.000

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

 

0.000

(b) Inventories

 

 

0.000

(c) Trade receivables

 

 

0.000

(d) Cash and cash equivalents

 

 

1.968

(e) Short-term loans and advances

 

 

0.000

(f) Other current assets

 

 

0.000

Total Current Assets

 

 

1.968

 

 

 

 

TOTAL

 

 

1.968

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

 

31.03.2016

 

SALES

 

 

 

 

Income

 

 

0.000

 

Other Income

 

 

0.000

 

TOTAL

 

 

0.000

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Operations and Administrative expense

 

 

0.083

 

TOTAL

 

 

0.083

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 

 

(0.083)

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

 

0.000

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

 

(0.083)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

 

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

 

(0.083)

 

 

 

 

 

Less

TAX

 

 

       0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

 

(0.083)

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

 

(0.42)

 


 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

 

 

31.03.2016

Current Maturities of Long term debt

 

 

NA

Cash generated from operations

 

 

NA

Net cash flow from operating activity

 

 

NA

 

 

KEY RATIOS

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

 

 

31.03.2016

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

 

 

0.03

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

 

 

0.00

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

 

 

0.03

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

 

 

0.00

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

 

 

0.00

 

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

 

 

31.03.2016

Net Profit Margin

((PAT / Sales) * 100)

%

 

 

0.00

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

 

 

(4.22)

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

 

 

(4.33)

 

 

SOLVENCY RATIOS

 

PARTICULARS

 

 

 

31.03.2016

Current Ratio

(Current Assets / Current Liabilities)

 

 

38.59

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

 

 

38.59

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

 

 

0.97

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

 

 

0.00

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

 

 

38.59

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 


 

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

Yes

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

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

Yes

26

Turnover of firm for last one year

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last one year

Yes

30

Major shareholders, if available

Yes

31

Litigations that the firm/promoter involved in

--

32

Market information

--

33

Payments terms

No

34

Negative Reporting by Auditors in the Annual Report

No

 

 


 

REVIEW OF OPERATIONS AND FUTURE PROSPECTS:

 

The Company was incorporated on 17th December, 2015. The company has not commenced operations until 31st March, 2016 and hence there is no revenue till 31st March, 2016.

 

 

CORPORATE INFORMATION

 

The company is engaged in the business of ship management i.e. providing technical consultancy services and crew management services and Purchase management services to ship owners, charterers, etc. Technical Management Services ensures vessels are operational round the year with near off-hire time. Crew Management Services includes recruitment of seafarers in accordance with international standards, STCW '95 and ISM Code. Purchase management services encompass timely supply of quality stores and spares at competitive prices.

 

 

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

 


 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No 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 63.98

UK Pound

1

INR 88.13

Euro

1

INR 78.35

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUV

 

 

Analysis Done by :

PRY

 

 

Report Prepared by :

KJL


 

SCORE FACTORS

 

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

 

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)

 

 

 

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.