MIRA
INFORM REPORT
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Report Date : |
30.07.2007 |
IDENTIFICATION DETAILS
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Name : |
THE HIND SAMACHAR
LIMITED |
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Registered Office : |
207-R, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
09.08.1949 |
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Com. Reg. No.: |
16-1529 |
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CIN No.: [Company
Identification No.] |
U22121PB1949PLC001529 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELT04710G |
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PAN No.: [Permanent
Account No.] |
AAIPC6242Q |
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Legal Form : |
Closely Held
Public Limited Liability Company |
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Line of Business : |
Traders and
Publishers of Newspaper. |
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 1800000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Unknown |
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Comments : |
Subject is a well
established and reputed publishers of newspapers and periodicals. Directors
are reported as experienced and respectable businessmen. Trade relations are fair. Payments are however reported as slow but
correct. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered
Office : |
207 – R, |
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Tel. No.: |
91 – 181 – 2280104 to 6 |
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Press : |
91 – 181 – 2280106 |
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Fax No.: |
91 – 181 – 2280113 / 2280111 |
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E-mail : |
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Area : |
500 sq. mtrs. |
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Location : |
Owned |
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Head
Office/Mines : |
Hind |
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Tel. No.: |
91 – 181 – 2280104 to 6 |
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Fax No.: |
91 – 181 – 2280113 / 2280111 |
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Area : |
15000 sq. mtrs. |
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Location : |
Owned |
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Branches : |
Located at :
·
Kolkata
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DIRECTORS
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Name : |
Mr. Vijay Kumar
Chopra |
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Designation : |
Chairman & Managing
Director |
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Address : |
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Date of
Birth/Age : |
56 years |
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Qualification
: |
Graduate |
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Experience : |
35 years |
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Name : |
Mr. Ashwani Kumar
Chopra |
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Designation : |
Director |
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Address : |
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Date of
Birth/Age : |
39 years |
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Qualification
: |
MBA |
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Experience : |
10 years |
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Name : |
Mr. Tilak Raj
Suri |
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Designation : |
Director |
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Name : |
Mr. Bhag Singh
Sidhu |
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Designation : |
Director |
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Name : |
Mrs. Sudarshan
Chopra |
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Designation : |
Director |
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Address : |
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Date of
Birth/Age : |
53 years |
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Qualification
: |
Graduate |
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Name : |
Mrs. Swadesh
Chopra |
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Designation : |
Director |
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Name : |
Mr. Avinash
Chopra |
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Designation : |
Director |
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Address : |
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Qualification
: |
Graduate |
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Experience : |
7 years |
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Name : |
Mr. Amit Chopra |
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Designation : |
Director |
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Address : |
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Qualification
: |
Graduate |
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Name : |
Mr. Arvind Chopra |
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Designation : |
Director |
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Address : |
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Qualification
: |
Graduate |
SHAREHOLDING PATTERN
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Names of Shareholders |
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Percentage of
Holding |
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Directors and
their family members |
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100.00 |
BUSINESS DETAILS
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Line of
Business : |
Traders and Publishers
of Newspaper. |
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Products : |
☻
Newspaper
Publishing |
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Brand Names : |
“ |
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Agencies Held
: |
Carrier Aircone |
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Exports to : |
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Imports from : |
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Terms : |
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Selling : |
Cash and Credit
(60/90 days) |
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Purchasing : |
Cash and Credit
[60 days] |
PRODUCTION STATUS
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Particulars |
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Unit |
Actual Production |
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Newspaper |
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Copies |
300000 per day |
GENERAL INFORMATION
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Suppliers : |
˜
Mysore
Paper Mills Limited ˜
Hindustan
Newsprints Limited ˜
Nepa
Limited, Nepa Nagar ˜
Coates
of India Limited ˜
Rama
Newsprint Limited, ˜
Shree
Rajeshwaranand Paper Mills Limited |
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Customers : |
Local Customers Retailers Wholesalers End Users Government Bodies |
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No. of
Employees : |
700 |
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Bankers : |
Ø
Punjab
& Sind Bank, Jalandhar Ø
Union
Bank of Ø
State
Bank of Ø
Punjab
National Bank, Jalandhar Ø
Bank
of Ø
Bank
of Punjab Limited, Civil Lines, Jalandhar, |
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Facilities : |
Credit Limits : Punjab National Bank
:Rs. 20.000 millions Punjab & Sind
Bank : Rs. 15.000 millions |
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Banking
Relations : |
Unknown |
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Auditors : |
S. C. Vasudeva
and Company Chartered
Accountants, E-1, Connaught
Place, New Delhi-110001 Tel. No. :
91-11-23328655 S. C. Vasudeva
and Company Chartered
Accountants, Raj TPT Bldf, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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34700 |
‘A’ class Equity
Shares |
Rs. 100/- each |
Rs. 3.470 millions |
|
3000 |
‘B’ class Equity
Shares |
Rs. 10/- each |
Rs. 0.030 million |
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Total |
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Rs. 3.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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34700 |
‘A’ class Equity
Shares |
Rs. 100/- each |
Rs. 3.470 millions |
|
3000 |
‘B’ class Equity
Shares |
Rs. 10/- each |
Rs. 0.030 million |
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Total |
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Rs. 3.500 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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3.500 |
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2] Reserves & Surplus |
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462.000 |
NETWORTH
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465.500 |
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LOAN FUNDS |
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1] Secured Loans |
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78.000 |
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2] Unsecured Loans |
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23.000 |
TOTAL BORROWING
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101.000 |
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TOTAL
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566.500 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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525.600 |
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Capital work-in-progress |
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0.000 |
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INVESTMENTS |
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7.500 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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81.000 |
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Sundry Debtors |
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4.900 |
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Cash & Bank Balances |
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40.500 |
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Other current assets |
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0.000 |
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Loans & Advances |
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24.600 |
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Total Current Assets |
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151.000 |
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Less: CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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124.600 |
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Provisions |
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0.000 |
Total Current Liabilities
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124.600 |
Net Current Assets
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26.400 |
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MISCELLANEOUS
EXPENSES |
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7.000 |
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TOTAL
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566.500 |
PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover [including other
income] |
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1660.500 |
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Profit/(Loss) Before Tax |
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168.500 |
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Provision for Taxation |
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42.000 |
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Profit/(Loss) After Tax |
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126.500 |
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Import Value |
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35.000 |
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Total
Expenditure
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1492.000 |
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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7.61 |
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Net Profit Margin (PBT/Sales) |
(%) |
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10.14 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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24.90 |
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Return on Investment (ROI) (PBT/Networth) |
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0.36 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.48 |
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Current Ratio (Current Asset/Current Liability) |
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1.21 |
LOCAL AGENCY FURTHER INFORMATION
The company is
trading as “Punjab Kesari”.
Trade Reference :
Carrier Aircone
Limited
The following are
the Newspapers published by the company :
˜
Daily
˜
Daily
Jag Bani (Punjabi)
˜
Daily Hind
Samachar (Urdu)
Fixed Assets
- Land
- Plant & Machinery
- Building
- Furniture & Fixtures
- Building Under Construction
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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.40.44 |
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|
1 |
Rs.82.03 |
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Euro |
1 |
Rs.55.42 |
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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