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MIRA
INFORM REPORT
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Report Date : |
31.10.2006 |
IDENTIFICATION
DETAILS
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Correct Name : |
UNIVERSAL
INDUSTRIAL PLANTS MANUFACTURING COMPANY (PRIVATE) LIMITED |
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Registered Office : |
R-19,
Hauz Khas Enclave, New Delhi – 110 016, India. |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
19.09.1986 |
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Com. Reg. No.: |
55-25510 |
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CIN No.: [Company
Identification No.] |
U24111DL1986PTC025510 |
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IEC No.: |
0505027186
dated 05.07.2005 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELU02917F |
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PAN No.: [Permanent
Account No.] |
AAACU7501K |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturer
of Air Separation Plants, Oxygen Plants, Nitrogen Plants and Acetylene
Plants. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
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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
is an established company having moderate track. Profit margin and financial
position of the company is moderate. Payments are slow but correct. The
company can be considered for small to mediocre business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
R-19,
Hauz Khas Enclave, New Delhi – 110 016, India. |
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Tel. No.: |
91-11-65655661/26154015 |
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Mobile No.: |
91-9810626301 |
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Fax No.: |
91-11-41661174 |
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E-Mail : |
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Website : |
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Area : |
3500
sq. ft. |
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Location : |
Owned |
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Factory
1 : |
A-104/2,
Okhla Industrial Area, Phase – 2, New Delhi – 110 020, India. |
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Tel.
No.: |
91-124-4386250/
25519863 |
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Mobile
No.: |
91-9810626301 |
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Fax
No.: |
91-124-4386234 |
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E-Mail
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Website: |
DIRECTORS
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Name : |
Mr.
Sanjiv Agrawal |
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Designation : |
Director
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Address : |
R-19,
Hauz Khas Enclave, New Delhi – 110 016, India. |
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Date of Birth/Age : |
11.02.1959 |
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Date of Appointment : |
19.09.1986 |
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Name : |
Ms.
Rina Agrawal |
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Designation : |
Director
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Address : |
R-19,
Hauz Khas Enclave, New Delhi – 110 016, India. |
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Date of Appointment : |
02.05.1994 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
Percentage of Holding |
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Mr.
Sanjiv Agrawal |
999 |
99.99 |
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Ms.
Rina Agrawal |
1 |
0.01 |
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Total: |
1000 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer
of Air Separation Plants, Oxygen Plants, Nitrogen Plants and Acetylene
Plants. |
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Products : |
Ø
Air
Separation Plants Ø
Gas
Plants Ø
Oxygen
Plants Ø
Oxygen
Gas Filling Plant Ø
Oxygen
Machine Ø
Nitrogen
Plants Ø
Oxygen
Separator Ø
Cryogenic
Plant Ø
Air
Separation Plant Ø
Nitrogen
Machine Ø
Air
Products Plant Ø
Gas
Producing Plant Ø
Acetylene
Plant Ø
Acetylene
Gas Filing Plant Ø
Acetylene
Gas Factory and Oxygen Generators Ø
Cryogenic
Tanks Ø
Acetylene
Plant Ø
Liquid
Oxygen Pumps Ø
Cryogenic
Liquid Plant Ø
Stainless
Steel Fabricators Ø
Heat
Exchanger Ø
Distillation
Columns Ø
Reactors Ø
Pressure
Vessels Ø
Nitrous
Oxide Plants Ø
Carbon
Dioxide Plants Ø
Acetylene
Plants |
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Exports to : |
Syria,
Jordan, Iraq, Libya, Sri Lanka, Malaysia, Indonesia, Australia, Zambia,
Bolivia, UAE, Iran, Kuwait, Kenya, South Africa, Saudi Arabia, Iraq and other
parts of the world. |
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Terms : |
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Selling : |
3/C
and 25 to 30% by TT Advance |
GENERAL
INFORMATION
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No. of Employees : |
60 |
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Bankers : |
Ø
Vijaya
Bank, Hauz Khas Branch, New Delhi – 110 016, India. Ø
HDFC
Bank Limited, Hauz Khas, New Delhi – 110 016, India. |
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Facilities : |
-- |
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Banking Relations : |
Unknown
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Auditors : |
B N
Gopinath Chartered
Accountant |
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Address: |
No.
134, Upstairs, 42nd Cross, 8th Block, Jayanagar, Bangalore
– 560 082, Karnataka, India. |
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Collaboration: |
ING L
& A, Boschi, Italy |
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Membership: |
Delhi
Chamber of Commerce Engineering
Export Promotion Council (valid up to 31.03.2009) |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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100000 |
Equity
Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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1000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.100 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(0.092) |
(0.091) |
(0.082) |
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NETWORTH |
0.008 |
0.009 |
0.018 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.008 |
0.009 |
0.018 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
0.000
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0.000 |
0.000 |
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Cash & Bank Balances |
0.017
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0.018 |
0.018 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.000
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0.000 |
0.000 |
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Total Current Assets |
0.017
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0.018 |
0.018 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
0.009
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0.009 |
0.000 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total Current Liabilities |
0.009
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0.009 |
0.000 |
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Net Current Assets |
0.008
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0.009 |
0.018 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.008
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0.009 |
0.018 |
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KEY
RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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Current
Ratio |
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1.89 |
2.00 |
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Quick
Ratio |
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1.89 |
2.00 |
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Current
Liabilities/ Networth |
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1.13 |
1.00 |
Expected
Turnover for the Year 2006: Rs. 50.000 Millions.
LOCAL AGENCY
FURTHER INFORMATION
Business:
The
Registered Address is the residential address of the director . The subject has
claimed that they are having production units at four places in India. The
subject is further claimed that they are exporting their products throughout
the world and the turnover was around Rs. 50.000 Millions approx during the
financial year ending 31.03.2006.
Mr.
Sanjiv Agarwal, CEO is a qualified Chemical Engineer and Specialised professional
in the design and manufacture of oxygen and nitrogen production plant.
AS
PER WEBSITE:
Profile
The Company was established in 1985 by Mr. Sanjiv Agarwal who is a
qualified Chemical Engineer & specialised professional in the design &
manufacture of oxygen & nitrogen production plant. They commenced
manufacturing of nitrogen & oxygen production plant at their factory at New
Delhi and air seperation columns in Genova, Italy.
The designs of their plants were based on the process cycle of Linde & Claude,
which had been started by Dr. Boschi of Italy with their company ING. L&A.
Boschi of Italy in 1930 and perfected with over 70 years of experience.
Their very close association & interaction with the Italian company for
over 15 years whose plants are working all over the world in European countries
like Italy, Germany France, UK & Australia, and others gave us required
exposure and experience in the industry. These plants, based on the Boschi
technology, were also exported to Turkey, Greece, Iran, Sharjah, Abudhabi,
Quatar, Mauritius, Zambia, Nygeria, Dubai, Syria, South Africa, Egypt, Saudia
Arabia, Peru, Qatar, Indonesia, Kuwait, Iraq and many others.
The design of the Oxygen/Nitrogen Plant is based on the Liquification of Air
based on low & medium pressure cycle of an Expansion Engine. The air
separation column has state-of-the-art BOSCHI distillation trays, multipass
exchangers & condensors to get a high yield of oxygen by separation of
liquid air which results in very low power consumption. Boschi columns
manufacturred by us have been known for its efficiency & long life.
Their vast experience in the field of manufacture of Oxygen/ Nitrogen
production equipment has finally resulted into trouble free operation and
virtually maintenance free working of their plants. Their plants are also
equipped with vacuum insulated Liquid Oxygen Pump. They have supplied and
exported over 200 oxygen production plant and equipment all over World and
Italy, which are working successfully and also exported to international
market. These plants are being used either for filling oxygen in cylinders or
selling in the market for captive consumption.
Oxygen
gas is essential and feeder to host of industries including steel, fabrication,
glass, petro chemical, construction and hospitals. The market demand for oxygen
gas is huge and growing day by day.
Considering the above said requirements, they are offering you an opportunity
to set up Oxygen/ Nitrogen/ Acetylene plant with latest cryogenic technology of
Boschi - Italy with low investment depending upon the capacity of the plant. It
requires a shed area of 1000 to 2500 sq ft only and has a very simple
operation. These plants are very suitable for getting pure oxygen and nitrogen
of high purities and cylinder filling as compared to PSA type oxygen plant.
Products Are
Oxygen Plants, Oxygen Plants Manufacturer, Oxygen Plants Exporter, India
Oxygen Plant, Oxygen Plants Manufacturers, Oxygen Plants Exporters, Oxygen
Plant Factory, Oxygen Factory, Oxygen Production Machine, Oxygen Production
Factory, Oxygen Factory India, Oxygen Plant, Oxygen Plants from India, Oxygen
Gas Filling Plants, Oxygen Separators, Cryogenic Plants and Air Separation
Plant
Special Highlights/Milestones
Ø Universal
along with Boschi started manufacturing oxygen/ nitrogen and acetylene plants
initially in technical collaboration of BOSCHI Italy in 1985 at New Delhi and
Genova Italy.
Ø ING L
& A BOSCHI is one of the oldest design companies in the world since 1930 in
Europe and has a long and rich experience.
Ø Dr.
Boschi was associated with the designing invention of the Air Separation
Technology with Linde in Europe.
Ø Boschi
design oxygen & nitrogen generating plants are working trouble free
worldwide in over 40 countries.
Ø Boschi
air separation is argon welded and engineered to perfection.
Ø Dr.
Boschi introduced the concept of expansion engines and liquid oxygen pump in
small sized plants to reduce working pressure and power consumption
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 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 |
Rs. 44.93 |
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UK
Pound |
1 |
Rs. 85.71 |
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Euro |
1 |
Rs. 57.34 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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 |
YES |
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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 |
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TOTAL |
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31 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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