MIRA INFORM REPORT
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Report Date : |
03.11.2006 |
IDENTIFICATION DETAILS
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Name : |
PONNMONEY MARKETING PRIVATE
LIMITED |
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Registered Office : |
4, Railway Colony, First
Street, Mehta Nagar, Chennai - 600 029, Tamilnadu |
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Country : |
India
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
25.09.2000 |
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Com. Reg. No.: |
18-45801 |
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CIN No.: [Company Identification No.] |
U29308TN2000PTC045801 |
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TAN No.: [Tax Deduction & Collection Account No.] |
CHEP02684D |
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Legal Form : |
Private
limited liability company |
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Line of Business : |
Traders in Household
Articles like TVs, Washing Machines, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 10000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established company having satisfactory track. Directors are reported as
experienced, respectable and having satisfactory means of their own. Their trade relations are
reported as fair. Payments are reported as correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office /
Corporate Office / Warehouse : |
4, Railway Colony, First
Street, Mehta Nagar, Chennai - 600 029, Tamilnadu, India |
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Tel. No.: |
91-44-23742883/ 3742885 /
23742887 |
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Mobile No. : |
91-9884242440 |
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Fax No.: |
91-44-23742208 |
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Email : |
DIRECTORS
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Name |
Mr. Selvi Mary C |
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Designation |
Director |
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Address |
9, Raghavan Street, Chennai
– 600094, Tamilnadu |
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Date of Appointment : |
25.04.2000 |
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Name |
Mr. Mary Seleen Bai |
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Designation |
Director |
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Address |
9, First Lane, Parry
Street, Chennai - 600 094, Tamilnadu |
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Date of Appointment : |
25.04.2000 |
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Name |
Mr. Helen Latha Bai |
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Designation |
Director |
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Address |
3, Kamaraj Nagar, First
Street, Gill Nagar, Chennai -600094, Tamilnadu |
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Date of Appointment : |
25.04.2000 |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Mr. Selvi Mary C |
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10000 |
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Mr. Mary Seleen Bai |
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10000 |
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Mr. Helen Latha Bai |
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10000 |
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Mr. Jancy David |
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10000 |
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Mr. V. F. Soundararajan |
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10000 |
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Mr. P. George |
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10000 |
BUSINESS DETAILS
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Line of Business : |
Traders in Household
Articles like TVs, Washing Machines, etc. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Around
30 |
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Bankers : |
v
Bank of Baroda,
Choolaimedu, Chennai-600094, Tamilnadu, India v
The Repartriates Co-operative Finance and Development Bank Limited 33,
North Usman Road, T. Nagar, Chennai - 600 017, Tamilnadu,
India v
The Catholic Syrian Bank Limited
v
Citi Bank |
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Facilities : |
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Banking Relations : |
Satisfactory
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Auditors : |
Gayathri and Company Chartered Accountants 217
[New No. 234], Thambu Chetty Street, Chennai - 600 001, Tamilnadu, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1,00,000 |
Equity Shares |
Rs.10/- |
Rs. 1.000 million |
Issued, Subscribed
& Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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60,000 |
Equity Shares |
Rs.10/- |
Rs. 0.600 million |
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 |
0.600 |
0.600 |
0.600 |
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2] Reserves & Surplus |
2.106 |
1.538 |
0.951 |
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NETWORTH
|
2.706 |
2.138 |
1.551 |
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LOAN FUNDS |
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1] Secured Loans |
20.455 |
2.194 |
6.452 |
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2] Unsecured Loans |
4.545 |
8.595 |
8.025 |
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TOTAL
BORROWING
|
25.000 |
10.789 |
14.477 |
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TOTAL
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27.706 |
12.927 |
16.028 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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2.339 |
2.466 |
0.816 |
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Capital work-in-progress
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0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES
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Inventories
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17.181 |
14.324
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Sundry Debtors
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25.111 |
22.818
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51.699
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Cash & Bank Balances
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0.224 |
1.350
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Loans & Advances
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4.148 |
0.673
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Total Current Assets
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46.664 |
39.165 |
51.699
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Less : CURRENT LIABILITIES & PROVISIONS
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Current Liabilities |
20.995
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28.370 |
36.517
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Provisions |
0.325
|
0.360 |
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Total Current Liabilities
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21.320 |
28.730 |
36.517
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Net Current
Assets
|
25.344 |
10.435 |
15.182
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MISCELLANEOUS EXPENSES
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0.023 |
0.026 |
0.030 |
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TOTAL
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27.706 |
12.927 |
16.028 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
Sales Turnover [including other income]
|
247.264 |
267.333 |
285.902 |
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Profit/(Loss) Before Tax
|
0.893 |
0.987 |
0.937 |
Provision for Taxation
|
0.325 |
0.360 |
0.350 |
Profit/(Loss) After Tax
|
0.568 |
0.627 |
0.587 |
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Expenditure
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246.372 |
266.346 |
NA |
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KEY RATIOS
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PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
PAT / Total Income
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(%)
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0.23 |
0.23 |
0.20
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Net Profit Margin
(PBT/Sales) |
(%) |
0.36 |
0.37 |
0.32
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Return on Total Assets
(PBT/Total Assets} |
(%) |
1.82 |
2.37 |
1.78
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Return on Investment (ROI)
(PBT/Networth) |
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0.33 |
0.46 |
0.60
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Debt Equity Ratio
(Total Liability/Networth) |
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17.12 |
18.48 |
33.88
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Current Ratio
(Current Asset/Current
Liability) |
|
2.19 |
1.36 |
1.41
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LOCAL AGENCY FURTHER INFORMATION
Fixed Assets
v
Land and Building
v
Furniture and Fixture
v
Computer
v
Telecom Equipment
v
Electrical Fittings
v
Cycle
v
Air Conditioner
v
Fridge
v
Tata Truck
v
Generator
Operation:
During
the year under report, the company earned a profit of Rs. 0.893 millions after
providing Depreciation but before Provision for Taxation.
The
directors are confident that during the year 2005-06 the company will be in a
position to maintain the same growth
rate.
Form 8 Particular for creation or modification of
charges
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Corporation
identity number or foreign company registrations number of the company |
U29308TN2000PTC045801 |
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Name
of the company |
PONNMONEY MARKETING PRIVATE
LIMITED |
|
Address |
4, Railway Colony, First
Street, Mehta Nagar, Chennai - 600 029, Tamilnadu, India |
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This
Form is for |
Modification
of charge |
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Type
of Charges |
Hypothecation
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Particular
of the charge holder |
Bank
of Baroda, Choolaimedu, Chennai-600094, Tamilnadu, India |
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Amount
Secure by the charge |
Rs.
18.500 Millions |
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Brief
of the principal terms and conditions and extent and operation of the charge |
Hypothecation
of goods and Hypothecation of Book debts on 25.06.2004 |
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Description
of the property charge whether it is a charge on |
Stock
in trade and Book Debts |
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Modification
charge Charge
identification number of the charge to be modified |
90287919 |
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Date
of instrument modifying the charge |
02.08.2006 |
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Particulars
of the Property charged |
Hypothecation
of goods and Hypothecation
of Book Debts |
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Name of the company |
Ponnmoney Marketing
Private Limited |
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Presented By |
Bank
of Baroda, Choolaimedu Branch |
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1) Date and description of
instrument creating the change |
Hypothecation of Goods
dated 16.03.2005 Hypothecation of Book
Debts dated 16.03.2005 |
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2) Amount secured by the
charge/amount owing on the securities of charge |
Bank of Baroda, Choolaimedu
Branch, Chennai 94, total working capital limit Rs. 15.000 millions |
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3) Short particular of the
property charged. If the property acquired is subject to charge, date of the
acquired of the property should be given |
Hypothecation of goods and
Hypothecation of Book debts |
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4) Gist of the terms and
conditions and extent and operation of the charge. |
Interest
3 % over BPLR rate 25
% margin on Stock 40
% margin on Book debts |
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5) Name and Address and
description of the person entitled to the charge. |
Bank
of Baroda, Choolaimedu, Chennai-600094, Tamilnadu, India |
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6) Date and brief description of instrument
modifying the charge |
19.07.2005 Hypothecation of
goods and Book debts |
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7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Rs. 15.000 Millions CC
limit decreased to 12.500 millions DAUE sub limit Rs. 1.000 millions Interest @ 0.5 % over
Branch prime lending rate |
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Name of the company |
Ponnmoney Marketing
Private Limited |
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Presented By |
Bank
of Baroda, Choolaimedu Branch |
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1) Date and description of
instrument creating the change |
Hypothecation of Goods
dated 25.06.2004 Hypothecation of Book
Debts dated 25.06.2004 |
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2) Amount secured by the
charge/amount owing on the securities of charge |
Bank of Baroda, Choolaimedu
Branch, Chennai 94, total working capital limit Rs. 10.000 millions |
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3) Short particular of the
property charged. If the property acquired is subject to charge, date of the
acquired of the property should be given |
Hypothecation of goods and
Hypothecation of Book debts |
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4) Gist of the terms and
conditions and extent and operation of the charge. |
Interest
12.5 % per annum with monthly rest 25
% margin on Stock 40
% margin on Book debts |
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5) Name and Address and
description of the person entitled to the charge. |
Bank
of Baroda, Choolaimedu, Chennai-600094, Tamilnadu, India |
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6) Date and brief description of instrument
modifying the charge |
16.03.2005 Hypothecation of
Stock and Book debts letter of continuing
security |
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7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Rs.
10.000 Millions CC limit decreased to 15.000 millions Interest
3 % over BPLR minimum 13.5 % 25
% margin on Stock 40
% margin on Book debts |
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.44.45 |
|
UK
Pound |
1 |
Rs.84.83 |
|
Euro |
1 |
Rs.57.12 |
SCORE & RATING EXPLANATIONS
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
|
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 |
|
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 |