MIRA
INFORM REPORT
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Report Date : |
03.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
SONA COMMERCIAL
PRIVATE LIMITED |
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Registered Office : |
B 18/5, D S
Ramesh Nagar, Near Raja Garden Crossing, New Delhi-110015 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
26.04.1995 |
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Com. Reg. No.: |
55-67834 |
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CIN No.: [Company
Identification No.] |
U74899DL1995PTC067834 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS22264E |
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PAN No.: [Permanent
Account No.] |
AABCS8898N |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
To carry on all or
any of the following business such as traders, importers, exporters, dealers,
distributors and commission agents of natural crude oil, refined oil
perfumed, essential oils, menthol products, flavour compound extracts of
spices, herb medicinal chemicals, fragrances, toiletries, aromatic chemicals
and all other type of oil and extracting by products there of. To carry on all
or any of the following business such as traders, importers, exporters,
dealers, distributors and commission agents of natural crude oil, chemicals,
reagents, solvents. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
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 20000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established
and reputed company having satisfactory track. Directors are reported as
experienced and respectable businessmen. Trade relations are reported as
fair. Business is active. Payments are usually 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 : |
B 18/5, D S
Ramesh Nagar, Near Raja Garden Crossing, New Delhi-110015, India |
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SOLE
PROPRIETOR/PARTNERS/DIRECTORS
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Name : |
Mr. Amarnath
Suneja |
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Designation : |
Director |
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Address : |
F-50, Preet
Vihar, New Delhi-110092, India |
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Date of Birth/Age : |
09.11.1934 |
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Date of Appointment : |
03.02.2004 |
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Name : |
Mr. Sanjay Suneja |
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Designation : |
Director |
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Address : |
F-50, Preet
Vihar, New Delhi-110092, India |
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Date of Birth/Age : |
15.10.1964 |
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Date of Appointment : |
10.12.2002 |
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Name : |
Mr. Krishan
Chander Suneja |
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Designation : |
Director |
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Address : |
F-50, Preet Vihar,
New Delhi-110092, India |
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Date of Birth/Age : |
13.01.1967 |
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Date of Appointment : |
10.12.2002 |
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Name : |
Mr. Shyam Suneja |
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Designation : |
Director |
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Address : |
F-50, Preet
Vihar, New Delhi-110092, India |
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Date of Birth/Age : |
06.09.1969 |
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Date of Appointment : |
10.12.2002 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Amarnath
Suneja |
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10000 |
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Mr. Sanjay Suneja |
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3400 |
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Mr. Krishan Chander
Suneja |
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3300 |
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Mr. Shyam Suneja |
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3300 |
BUSINESS DETAILS
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Line of Business : |
To carry on all
or any of the following business such as traders, importers, exporters, dealers,
distributors and commission agents of natural crude oil, refined oil
perfumed, essential oils, menthol products, flavour compound extracts of
spices, herb medicinal chemicals, fragrances, toiletries, aromatic chemicals
and all other type of oil and extracting by products there of. To carry on all
or any of the following business such as traders, importers, exporters,
dealers, distributors and commission agents of natural crude oil, chemicals,
reagents, solvents. |
GENERAL
INFORMATION
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No. of Employees : |
About 10 |
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Bankers : |
v
Punjab
National Bank, Darya Ganj, Delhi, India v HDFC
Bank Limited, Ansal Classic Tower, 9th Floor, Rajouri Garden, New
Delhi |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Anil Singhal
& Associates Chartered
Accountants |
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Address : |
1304, Pragati
Tower, Rajendra Place, New Delhi-110008, India |
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E-Mail : |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
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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290000 |
Equity Shares |
Rs.10/- each |
Rs.2.900 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.900 |
2.700 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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2.838 |
2.542 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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5.738 |
5.242 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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5.528 |
12.020 |
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TOTAL BORROWING |
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5.528 |
12.020 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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11.266 |
17.262 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.513 |
0.922 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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1.037 |
1.527 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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7.816 |
10.543 |
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Sundry Debtors |
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54.240 |
35.615 |
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Cash & Bank Balances |
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0.352 |
0.645 |
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Other Current Assets |
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2.854 |
0.876 |
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Loans & Advances |
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1.427 |
0.000 |
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Total
Current Assets |
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66.689 |
47.679 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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58.676 |
32.950 |
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Provisions |
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0.397 |
0.050 |
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Total
Current Liabilities |
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59.073 |
33.000 |
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Net Current Assets |
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7.616 |
14.679 |
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MISCELLANEOUS EXPENSES |
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0.100 |
0.134 |
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TOTAL |
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11.266 |
17.262 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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247.347 |
159.967 |
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Total Income |
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247.347 |
159.967 |
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Profit/(Loss) After Tax |
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0.261 |
0.126 |
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Expenditures : |
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Interest |
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0.655 |
0.150 |
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Depreciation & Amortization |
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0.331 |
0.145 |
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Other Expenditure |
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246.100 |
159.546 |
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Total Expenditure |
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247.086 |
159.841 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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0.10 |
0.07 |
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Debt Equity Ratio (Total Liability/Networth) |
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10.29 |
6.29 |
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Current Ratio (Current Asset/Current Liability) |
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1.12 |
1.44 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or modification of charges
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Name of the company |
SONA COMMERCIAL PRIVATE LIMITED |
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Presented By |
Company
and HDFC Bank Limited |
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1) Date and description of instrument creating the change |
Letter of hypothecation dated 30.09.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 17.500 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 |
All present and future stock in trade, book debts and other merchandise and fixed assets of the company shall be hypothecated to the bank by way of first charge. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest as may be determined by the bank from time to time. |
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5) Name and Address and description of the person entitled to the charge. |
HDFC Bank Limited Ansal Classic Tower, 9th Floor, Rajouri Garden, New Delhi |
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6) Date and brief description of instrument modifying the charge |
N.A. |
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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. |
N.A. |
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Name of the company |
SONA COMMERCIAL PRIVATE LIMITED |
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Presented By |
PUNJAB
NATIONAL BANK |
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1) Date and description of instrument creating the change |
28.10.2004 Hypothecation of goods and book debts to secure cash credit facility. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.7.500 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 stocks, paper including imported papers and other security acceptable to bank. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest @ 10.75% p.a. Margin – Stock 25%, Book Debts 40% |
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5) Name and Address and description of the person entitled to the charge. |
Punjab National bank Darya Ganj, New Delhi |
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6) Date and brief description of instrument modifying the charge |
Nil |
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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. |
Nil |
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.43.59 |
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UK Pound |
1 |
Rs.85.53 |
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Euro |
1 |
Rs.58.14 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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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 |
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TOTAL |
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45 |
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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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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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 |
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<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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