MIRA
INFORM REPORT
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Report Date : |
05.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
ARCHON ENGICON
PRIVATE LIMITED |
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Registered Office : |
A-1, Shivam
Sundram Complex, Above Ahmedabad District Co-operative Bank, Opposite Haresh
Dudhiya, Gurukul Road, Memnagar, Ahmedabad-380052, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
22.12.2004 |
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Com. Reg. No.: |
04-45191 |
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CIN No.: [Company
Identification No.] |
U45204GJ2004PTC045191 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMA04914A |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturer of
Micro Tower, Telecommunication Tower, Micro Wave Tower, Mobile Tower,
Transmission Tower, Galvanize Tower and Galvanizing |
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 : |
New Company |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a new
company and has established satisfactory track. Directors are reported as experienced
and respectable businessmen. Trade relations are reported as fair. Business
is active. Payments are reported as usually correct and as per commitments. The company can
be considered for small business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office / Corporate Office : |
A-1,
Shivam Sundram Complex, Above Ahmedabad District Co-operative Bank, Opposite
Haresh Dudhiya, Gurukul Road, Memnagar, Ahmedabad-380052, Gujarat, India |
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Tel. No.: |
91-79-55221057
/ 65221057 |
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Mobile No.: |
91-9824274204 |
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Fax No.: |
91-79-27431072 |
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E-Mail : |
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Website : |
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Factory 1 : |
Plot
# 3, Navkar Industrial Estate, Near G.E.B. Sub Station, Santej-Khatrej Road,
Village Santej, Taluko Kalol, Dist: Gandhinagar, Gujarat |
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Tel. No.: |
91-9824752155 |
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Fax No.: |
91-2764-281818 |
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E-Mail : |
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Regional Office : |
Maharashtra-Pune: Rajsthan-Jaipur: |
DIRECTORS
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Name : |
Mr.
Chandrashekhar Balkrishna Panchal |
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Designation : |
Director
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Address : |
11,
Pandavnagar Society, Mirambika Road, naranpura, Ahmedabad – 380013 91-9824033842 / 9376033842 |
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Date of Appointment : |
22.12.2004 |
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Name : |
Mr. Hiren Patel |
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Designation : |
Director |
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Address : |
B-703, Chinmay Crystal, Nehru Park, Vastrapur, Ahmedabad - 380015 91-9824274204 |
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Date of Appointment : |
22.12.2004 |
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Name : |
Mr.
Pintu Shamjibhai Patel |
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Designation : |
Director
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Address : |
A/2,
Kailashnagar Society, Behind Sahyog Society, Taluka Chikhali, Navsari |
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Date of Appointment : |
10.01.2005 |
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Name : |
Mr.
Jayesh Jagdishprashad Sharma |
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Designation : |
Director
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Address : |
263/2,
Sector – 1C, Gandhinagar, Gujarat – 382009, India |
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Date of Appointment : |
10.01.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr.
Chandrashekhar Balkrishna Panchal |
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505,000 |
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Mr. Hiren Patel |
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1,495,000 |
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Total |
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2,000,000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of
Micro Tower, Telecommunication Tower, Micro Wave Tower, Mobile Tower, Transmission
Tower, Galvanize Tower and Galvanizing |
GENERAL
INFORMATION
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No. of Employees : |
About 250 |
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Bankers : |
Bank of Baroda Usmanpura Branch,
Ahmedabad Industrial
Development Bank of India |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Naresh J. Patel
and Company Chartered
Accountants |
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Address : |
A-602, Premium
House, Near Natraj Railway Crossing, Ashram Road, Ahmedabad – 380009,
Gujarat, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 Millions |
Issued, Subscribed & Paid-up 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 |
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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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10.000 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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2.668 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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12.668 |
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LOAN FUNDS |
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1] Secured Loans |
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26.847 |
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2] Unsecured Loans |
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8.068 |
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TOTAL BORROWING |
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34.915 |
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DEFERRED TAX LIABILITIES |
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0.799 |
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TOTAL |
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48.382 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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16.634 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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27.537 |
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Sundry Debtors |
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56.336 |
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Cash & Bank Balances |
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0.860 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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4.270 |
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Total
Current Assets |
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89.003 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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53.012 |
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Provisions |
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4.370 |
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Total
Current Liabilities |
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57.382 |
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Net Current Assets |
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31.621 |
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MISCELLANEOUS EXPENSES |
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0.127 |
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TOTAL |
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48.382 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover |
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133.879 |
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Total Income |
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133.879 |
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Profit/(Loss) After Tax |
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4.379 |
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Expenditures : |
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Interest |
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0.673 |
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Depreciation & Amortization |
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0.585 |
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Other Expenditure |
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128.241 |
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Total Expenditure |
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129.499 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
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PAT / Total Income |
(%) |
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3.27 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.52 |
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Current Ratio (Current Asset/Current Liability) |
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1.55 |
LOCAL AGENCY
FURTHER INFORMATION
FIXED ASSETS
- Land at Santej
- Factory Building
- Plant and Machinery
- Computer
- Electrical
- Office Equipments
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Name of the company |
ARCHON ENGICON PRIVATE LIMITED |
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Presented By |
Mr. Chandrashekhar Balkrishna
Panchal, Director |
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1) Date and description of instrument creating the change |
Hypothecation
Agreement Dated 10.08.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
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
all machinery stores, book debts situated at Block 1852/P, plot No. 3, Navkar
Road, Billage santej, Kalol, Gandhinagar |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Margin Raw material,
WIP, Finished Goods – 25 %, Book debts 30 %, Interest 0.25 % Below BPLR [PR
10.5 %] |
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5) Name and Address and description of the person entitled to the charge. |
Bank of Baroda Usmanpura Branch,
Ahmedabad |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
AS PER WEBSITE
Archon
Engicon Private Limited has started the manufacturing unit at Santej, Gandhinagar in 2005
after successful completion of many turnkey projects of civil work and
errection of telecommunication tower for many years. Company is providing
turnkey solutions in Telecommunication sector including civil work,
fabrication, errection, painting & electrical work of tower site. They also
deal into power transmission structures. They are having expertise in OFC
Cable-laying, civil work.
Company has achieved very high
growth in its short span of establishment by always exceeding the customer
needs by providing hand and gloves supports.
Archon has already received ISO
9001:2000 certificate.
The plant has the land area of
36,000 Square yard with shaded area of 16,000 Square yard. Archon also provides
accommodation facility for staff and labor at the plant with all the required
amenities. Their Regional offices in different states also handle the customer
need by instant solutions.
Their monthly production
capacity is 1500 MT/ Month with all the modern manufacturing facilities.
Company follows strict working guidelines as per Quality Management system to
ensure that production conforms to requirement.
They also have the state of the
art hot dip galvanizing plant to cater even process work to their premier
customers. Galvanizing Plant is capable of 1500 MT/Month production.
Plant is managed by highly
experienced and professional team to ensure that production meets the IS
requirements.
Archon is TSEC certified by BSNL
for manufacturing the Telecommunication towers.
They
are proud on their highly ambitious management who has vision of major player
in telecommunication, power transmission and civil works. Archon team is young,
talented and fully capable of making the vision into reality.
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 |
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US Dollar |
1 |
Rs.42.90 |
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UK Pound |
1 |
Rs.84.69 |
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Euro |
1 |
Rs.57.21 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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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 |
5 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
4 |
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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 |
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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35 |
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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