MIRA
INFORM REPORT
|
Report Date : |
13.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
METSIL EXPORTS
PRIVATE LIMITED |
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Registered Office : |
224, Dr. Bijoy
Kumar Basu Sarani, Kolkata-700045, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
02.03.1993 |
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Com. Reg. No.: |
21-57966 |
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CIN No.: [Company
Identification No.] |
U27109WB1993PTC057966 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALM05659D |
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PAN No.: [Permanent
Account No.] |
AACCM0520A |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Importers and
Suppliers of Ferro Alloys and Scrap , Ores , Coking Coal , Metallurgical Coke , Charcol , Metals |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 10000 |
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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 records. 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 : |
Barlow House, 4th Floor, 59 –C, Chowringhee Road, Kolkata
700020, Wes t Bengal, India . |
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Tel. No.: |
91-33-22891641 , 22891642 , 22891643 |
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Fax No.: |
91-33-22891640 |
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E-Mail : |
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Website : |
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Corporate Office : |
59C,
Chowringhee Road, 4th Floor, Barlow House, Kolkata : - 700 020. |
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Tel. No.: |
91-33-22891641/ 22891642/ 22891643 |
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Fax No.: |
91-33- 22891640 |
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E-Mail : |
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Factory 1 : |
Barlow House, 4th
Floor, 59-C, Chowringhee Road, Kolkata-700020, West Bengal, India |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Rajendra
Prasad Singh |
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Designation : |
Director |
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Address : |
6, chapel Road,
Kolkata-700022, West Bengal |
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Date of Birth/Age : |
15.11.1949 |
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Date of Appointment : |
02.03.1993 |
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Name : |
Mr. Suresh Kumar
Sharma |
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Designation : |
Director |
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Address : |
47/7, Prince
Gular Hussain Shah Road, Kolkata-700032, West Bengal |
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Date of Birth/Age : |
10.08.1949 |
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Date of Appointment : |
01.06.1998 |
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Name : |
Mr. Santosh Kumar
Sharma |
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Designation : |
Director |
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Address : |
47/7, Prince
Gular Hussain Shah Road, Kolkata-700032, West Bengal |
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Date of Birth/Age : |
10.10.1955 |
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Date of Appointment : |
01.07.1999 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Sharma |
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Designation : |
Executive
(Marketing) |
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MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
|
Mr. Rajendra
Prasad Singh |
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1200 |
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Mr. Mahesh Kumar
Sureka |
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1200 |
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Ms. Renu Sharma |
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12000 |
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Mr. Ashok Kumar
Sharma |
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1500 |
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Ms. Lata Sharma |
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2500 |
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Mr. Girindra
Mohan Sharma |
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2000 |
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Mrs. Urmila Shama |
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4000 |
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Ms. Reetu Sharma |
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2000 |
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Mr. Amit Kumar
Sharma |
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2000 |
BUSINESS DETAILS
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Line of Business : |
Importers and
Suppliers of Ferro Alloys and Scrap , Ores , Coking Coal , Metallurgical Coke , Charcol , Metals |
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Products : |
Aluminium Scrap |
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Exports : |
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Countries : |
Africa, Asia and
Middle East |
GENERAL
INFORMATION
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No. of Employees : |
25 |
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Bankers : |
v
State Bank
of Hyderabad, Lansdowne Branch v Punjab National Bank, Barabazar Branch,
P35, Cotton Street, Kolkata-700007, West Bengal, India |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Surendra Didwania
& Company Chartered
Accountants |
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Address : |
Room No.332, City
Centre, 19, Synagogue Street, Kolkata-700001, West Bengal, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
94400 |
Equity Shares |
Rs.10/- each |
Rs.0.944 millions |
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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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0.944 |
0.944 |
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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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0.777 |
0.666 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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1.721 |
1.610 |
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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 |
|
10.135 |
0.970 |
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TOTAL BORROWING |
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10.135 |
0.970 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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11.856 |
2.580 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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4.869 |
1.952 |
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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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0.082 |
0.082 |
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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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0.000 |
0.000 |
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Sundry Debtors |
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11.406 |
3.135 |
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Cash & Bank Balances |
|
8.235 |
9.131 |
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Other Current Assets |
|
0.315 |
1.258 |
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Loans & Advances |
|
0.903 |
1.470 |
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Total
Current Assets |
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20.859 |
14.994 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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13.640 |
14.213 |
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Provisions |
|
0.314 |
0.235 |
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Total
Current Liabilities |
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13.954 |
14.448 |
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Net Current Assets |
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6.905 |
0.546 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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11.856 |
2.580 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
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32.933 |
75.114 |
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Other Income |
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3.576 |
2.306 |
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Total Income |
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36.509 |
77.420 |
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Profit/(Loss) Before Tax |
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0.291 |
0.365 |
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Provision for Taxation |
|
0.180 |
0.135 |
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Profit/(Loss) After Tax |
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0.111 |
0.230 |
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Expenditures : |
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Depreciation & Amortization |
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0.697 |
0.078 |
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Other Expenditure |
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34.824 |
76.899 |
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Total Expenditure |
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35.521 |
76.977 |
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KEY RATIOS
|
PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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0.30 |
029 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.88 |
0.48 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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4.21 |
66.84 |
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Return on Investment (ROI) (PBT/Networth) |
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0.16 |
0.22 |
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Debt Equity Ratio (Total Liability/Networth) |
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8.10 |
8.97 |
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Current Ratio (Current Asset/Current Liability) |
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1.49 |
1.03 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or modification of charges
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Corporation identity number or foreign company registrations number of the company |
U27109WB1993PTC057966 |
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Name of the company |
METSIL EXPORTS
PRIVATE LIMITED |
|
Address |
224, Dr. Bijoy
Kumar Basu Sarani, Kolkata-700045, West Bengal, India |
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This Form is for |
Creation of
charge |
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Type of Charges |
Movable property |
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Particular of the charge holder |
Punjab National Bank, Barabazar Branch, P35, Cotton Street, Kolkata-700007, West Bengal, India |
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Nature or description of the instrument creating charge |
Packing credit agreement (Hypothecation of goods) Hypothecation of Plant and Machinery and other existing and future block of assets as collateral security for packing credit account. |
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Date of the instrument creating charge |
29.12.2006 |
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Amount Secure by the charge |
Rs.30.000 millions |
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Brief of the principal terms and conditions and extent and operation of the charge |
Rate of interest : Interest @ BPLR-3.25% p.a. or such other rates as may be fixed from time to time by the bank and shall be calculated on the daily balance due to the Bank with monthly rests. On failure to export within 180 days from the date of advance, shall pay from the 181st day bank interest @ BPLR 1.25% p.a. or at the rate as applicable in cash credit account whichever is higher with monthly rests. Terms of repayment As stipulated in the agreement Extent and operation of the charge The following facilities have been sanctioned by the Bank to the borrower against hypothecation of goods repayable with interests, costs, charges and expenses: Packing Credit : Rs.20.000 millions FLC (DP) : Rs.10.000 millions Overall Limit : Rs.30.000 millions |
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Particulars of the Property charged |
On packing credit agreement goods as described in the schedule – Ferro alloys present and future and in transit meant for export stored at Kolkata and other places in India. Computers, Furniture, Air Conditioners, Cars etc. all located at 4th Floor, Barlow House, 59C, Chowringhee Road, Kolkata-700020 other places in India |
Website Details:
Incorporated in 1993, they are in regular import/export
business relating to Iron & steel and metal producing industries. They are
sourcing various raw material inputs for steel, Ferro-Alloy and other
industries. They have good contacts with Indian as well as foreign buyers and
sellers for various materials.
Subject has a long history way back to its establishment in
1993. Trading goods within India and overseas markets such as Indian Sub
Continent, South East Asian Countries, Asean, Far-East ,Japan, China, Europe,
East Africa, North America and Australia . Subject is committed to source
quality materials and provide hassle free services in a professional manner
which will certainly add value to its business associates.
Through the years subject has diversified into various lines of businesses.
With the initial concentration of their business activities in the Ferro Alloys
and Scrap Imports subject has spread its wings to other products such as Ores ,
Coking Coal , Metallurgical Coke, Charcoal, Metals etc.
Subject strives to take care of all their customer’s needs. They provide
services such as sourcing of any commodity or goods , consolidation of orders
for export and follow up on current orders, assisting in the Export Logistics (
They have a long term tie-up with the reputed Shipping , Clearing &
Forwarding Agents and Container Freight Brokers).
With a team of highly skilled and professional individuals, subject has earned
a very high reputation in the market and is well known amongst key players in
the industry. Working with practicality, ethics and a responsibility, they
assure that all of their business associates get maximum value by dealing with
them.
Besides offering a wide range of products, subject offers a wide range of trade
related services. Their presence in the Eastern Region of India, with shipping
and logistical infrastructure, allows them to offer the best prices, prompt
response and value added products and services to bridge the requirements of
their buyers with their large database of trusted and reputed suppliers who are
also amongst the biggest manufacturers in India.
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.42.86 |
|
UK Pound |
1 |
Rs.84.75 |
|
Euro |
1 |
Rs.57.71 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
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
|
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|