MIRA
INFORM REPORT
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Report Date : |
08.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
PRITHVI PRAKASHAN PRIVATE LIMITED |
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Registered Office : |
126, ‘B’ Wing, Mittal Tower, Nariman Point, Mumbai – 400021,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
20.02.1985 |
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Com. Reg. No.: |
11-35425 |
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CIN No.: [Company
Identification No.] |
U22120MH1985PTC035425 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
NSKP02059B |
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PAN No.: [Permanent
Account No.] |
AAACP5814A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Printing and Publishing of Newspapers. |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 1500000 |
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Status : |
Good |
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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 publisher of newspaper.
Available information indicates high financial responsibility of the company.
Trade relations are fair. Payments are usually correct and as per
commitments. The company can be considered good for any normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
126, ‘B’ Wing, Mittal Tower, Nariman Point, Mumbai – 400021,
Maharashtra, India |
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Tel. No.: |
91-22-2855961 / 2856749 / 2856750 |
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Fax No.: |
91-22-2028211 |
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E-Mail : |
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Area : |
1200 sq. ft.[Owned] |
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Corporate Office : |
Jalna Road, P O Box No. 44, Aurangabad – 431003, Maharashtra, India |
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Head Office : |
Lokmat Bhavan, Pandit Jawaharlal Nehru Marg, Post Box No.
216, Nagpur - 440 012, Maharashtra, INDIA. |
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Area : |
48000 sq. ft. [Owned] |
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Branches : |
Located at : Mumbai, Madras, Delhi, Pune, Bangalore, Ahmedabad,
Calcutta, Bhopal, Indore, Hyderabad |
DIRECTORS
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Name : |
Mr. Vijay J Darda |
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Designation : |
Director |
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Address : |
Rahate Colony, Wardha Road, Nagpur |
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PAN No.: |
AAAPD9500A |
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Date of Birth/Age : |
14.05.1950 |
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Date of Appointment : |
20.02.1985 |
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Name : |
Mr. Balaji A Muley |
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Designation : |
Director |
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Address : |
229, Nandanvan Colony, Near Cantonment, Aurangabad |
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PAN No.: |
ABVPM7482N |
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Date of Birth/Age : |
01.01.1962 |
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Date of Appointment : |
07.10.1996 |
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Name : |
Mr. Rishi R. Darda |
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Designation : |
Director |
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Address : |
Lokmat Bhavan, Jalna Road, Aurangabad, India |
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PAN No.: |
AAKPD2934Q |
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Date of Birth/Age : |
15.12.1978 |
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Date of Appointment : |
21.07.1997 |
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Name : |
Mr. Devendra V. Darda |
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Designation : |
Director |
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Address : |
Rahate Colony, Wardha Road, Nagpur |
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PAN No.: |
AAAPD9501B |
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Date of Birth/Age : |
23.11.1974 |
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Date of Appointment : |
18.06.2002 |
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Name : |
Mr. Karan R. Darda |
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Designation : |
Director |
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Address : |
Lokmat Bhavan, Jalna Road, Aurangabad, India |
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PAN No.: |
AGKPD4240R |
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Date of Birth/Age : |
25.05.1983 |
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Date of Appointment : |
01.04.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Rajendra J Darda |
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2336 |
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Ashoo Darda |
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780 |
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Rishi R. Darda |
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780 |
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Karan R Darda |
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780 |
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Total |
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4676 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Printing and Publishing of Newspapers. |
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Imports : |
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Countries : |
U.K. and Canada |
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Terms : |
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Selling : |
Cash and Contract Basis |
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Purchasing : |
Cash and 30 days Contract and L/C terms |
GENERAL
INFORMATION
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Customers : |
Individuals and Newspaper Agents |
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No. of Employees : |
900 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S. C. Chandiwal and Company Chartered Accountants |
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Address : |
“Sanmati” Near Union Bank of India, Osmanpura Corner, Aurangabad –
431005, Maharashtra, India |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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6100 |
Equity Shares |
Rs. 1000/- each |
Rs. 6.100 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4676 |
Equity Shares |
Rs. 1000/- each |
Rs. 4.676
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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4.676 |
4.676 |
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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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379.488 |
314.671 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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384.164 |
319.347 |
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LOAN FUNDS |
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1] Secured Loans |
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224.579 |
171.519 |
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2] Unsecured Loans |
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44.270 |
35.700 |
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TOTAL BORROWING |
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268.849 |
207.219 |
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DEFERRED TAX LIABILITIES |
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51.912 |
46.797 |
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TOTAL |
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704.925 |
573.363 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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404.542 |
292.636 |
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Capital work-in-progress |
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1.960 |
3.782 |
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INVESTMENT |
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1.718 |
1.719 |
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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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68.425 |
117.067 |
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Sundry Debtors |
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102.240 |
78.477 |
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Cash & Bank Balances |
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234.586 |
193.489 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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197.155 |
163.776 |
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Total
Current Assets |
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602.406 |
552.809 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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163.565 |
172.222 |
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Provisions |
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142.167 |
105.399 |
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Total
Current Liabilities |
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305.732 |
277.621 |
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Net Current Assets |
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296.674 |
275.188 |
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MISCELLANEOUS EXPENSES |
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0.031 |
0.038 |
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TOTAL |
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704.925 |
573.363 |
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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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900.000 |
600.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.50 |
1.52 |
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Current Ratio (Current Asset/Current Liability) |
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1.97 |
1.99 |
LOCAL AGENCY
FURTHER INFORMATION
History
Subject was originally established in the year 1950 at
Nagpur in Maharashtra as a Partnership Concern.
Subsequently, it was converted into a Private Limited
Liability Company with effect from 20th February 1985 having Company
Registration No. 35425.
Business
The company is engaged in Printing and Publishing of
Newspapers. The dailies printed and published by the company are Dainik Lokmat
(in Marathi), 'Lokmat Times' and 'English Daily'.
Subject buys 72% of its requirements from the local market
and 28% is imported
from U.K. and Canada.
It does not export.
Bankers Charges
Report as per Registry
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Name of the company |
PRITHVI
PRAKASHAN PRIVATE LIMITED |
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Presented By |
Bank
of India, Branch Kranti Chowk, Aurangabad
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1) Date and description of instrument creating the change |
1st
April 1998 Agreement of Hypothecation
of Plant and machinery, Stock and Book debts |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 32.100
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 tangible
movable assets of the company including in particulars all stock of raw
materials such as Newsprints, paper, ink, plats, film, stock in process and finished
goods stores, spares, chemicals, etc. whatsoever situated and / or in
transit. All the book debts, O/s money receivables claims an bills which are
now due an owing or which may at any time hereinafter during continuance of
this security become due and owing to the borrower in the course of it’s
business by any person, institute etc.
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4) Gist of the terms and conditions and extent and operation of the charge. |
Demand Cash
Credit Hypothecation of Stock, Book debts Rs. 16.500 Millions Interest 14 %
p.a. Int + Int Tax WOR Bill / Cheque
Purchase Rs. 0.500 Million Interest 14 %
p.a. Int + Int Tax WOR Letter of credit
Rs. 15.000 Millions As per FEDAI rule
Guarantee Rs.
0.100 Million |
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5) Name and Address and description of the person entitled to the charge. |
Bank of India, Branch Kranti Chowk, Aurangabad |
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6) Date and brief description of instrument modifying the charge |
By this
modification : Date 21.04.2005 Deed of
Rectification of Oral Assent for Mortgage of Deposit of Title Deed |
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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. |
By this modification
: Additional
security provided in the form of Mortgage of Plot No. D – 48, at Shiroli
Industrial Area, Taluka Hatkanangle, Dist. Kolhapur, Area 8300 sq. Mtrs. |
Fixed
Assets
- Land
- Factory
Building
- Godown
Building
- Plant &
Machinery
- Electrical
Installation
- Furniture
& Fixtures
- Office
Equipments
- Vehicles
- Vehicles on
Lease
- Computers
- Cylinders on
Lease
- Machinery on
Lease
- Capital
W.I.P.
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 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.39.41 |
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UK Pound |
1 |
Rs.79.81 |
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Euro |
1 |
Rs.57.58 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
8 |
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PAID-UP CAPITAL |
1~10 |
8 |
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OPERATING SCALE |
1~10 |
8 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
8 |
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--LIQUIDITY |
1~10 |
8 |
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--LEVERAGE |
1~10 |
8 |
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--RESERVES |
1~10 |
8 |
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--CREDIT LINES |
1~10 |
8 |
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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 |
|
72 |
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 |
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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 |
|
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. |
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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