MIRA
INFORM REPORT
|
Report Date : |
22.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
KALABHAI DENTAL PRIVATE LIMITED |
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Registered Office : |
256, Sardar V. Patel Road, Mumbai – 400004, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
21.12.1992 |
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Com. Reg. No.: |
11-70079 |
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CIN No.: [Company
Identification No.] |
U33112MH1992PTC070079 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Quarrying, Dressing, Washing, Shifting, Calcining, Mixing,
Autoclaving, blending, crushing, processing, fabrication and tooling of
dental materials, equipments and appliances and products and compounds for dentistry
(made of dental materials), chemicals, adhesives needed for dental raw
materials, equipments and appliances. |
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. |
Small |
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Maximum Credit Limit : |
USD 5000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company having moderate track.
Company’s profitability is low. It has some accumulated losses. Payments are
reported as slow but correct. The company can be considered for small to mediocre business dealings
with slight caution, initially. |
LOCATIONS
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Registered Office : |
256, Sardar V. Patel Road, Mumbai – 400004, Maharashtra,
India |
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Tel. No.: |
91-22-25781823 |
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Fax No.: |
91-22-25774059 |
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E-Mail : |
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Corporate Office : |
43-44 Lal Bahadur Shastri Marg, Vikhroli (West), Mumbai – 400079,
Maharashtra, India |
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Tel. No.: |
91-22-25774058 / 59, 25781823 / 3739 |
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Fax No.: |
91-22-25799120 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr. Rajendra G. Nandwana |
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Designation : |
Director |
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Address : |
26, Valentine, N. G. Road, Mumbai – 400026, Maharashtra,
India |
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Date of Birth/Age : |
17th June 1948 |
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Date of Appointment : |
21st December 1992 |
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Name : |
Ms. Shanti R. Nandwana |
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Designation : |
Director |
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Address : |
26, Valentine, N. G. Road, Mumbai – 400026, Maharashtra,
India |
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Date of Birth/Age : |
1st July 1948 |
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Date of Appointment : |
21st December 1992 |
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Name : |
Mr. Aditya R. Nandwana |
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Designation : |
Director |
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Address : |
26, Valentine, N. G. Road, Mumbai – 400026, Maharashtra,
India |
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Date of Birth/Age : |
28th June 1981 |
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Date of Appointment : |
31st July 1999 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Rajendra G. Nandwana |
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8,750 |
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Shanti R. Nandwana |
|
8,250 |
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Rajendra G. Nandwana (HUF) |
|
8,500 |
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Aditya R. Nandwana |
|
11,250 |
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Sharmila R. Nandwana |
|
8,250 |
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TOTAL
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45,000 |
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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 |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Quarrying, Dressing, Washing, Shifting, Calcining, Mixing,
Autoclaving, blending, crushing, processing, fabrication and tooling of
dental materials, equipments and appliances and products and compounds for
dentistry (made of dental materials), chemicals, adhesives needed for dental
raw materials, equipments and appliances. |
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Products : |
Dental
Materials ·
Abrasive sand for blasters ·
Abrasive Stones/Discs ·
Acrylic Polishing Paste ·
Adhesives ·
Articulating Liquid ·
Spray ·
Acrylic Resin (Hot and Cold Cure) ·
Brushes for Polishing, Porcelain Build up ·
Buffs ·
Bi-Pins ·
Carbide Burs/Cutters ·
Casting Rings ·
Crucibles ·
Crucible/Sprue Former ·
Cotton buffs ·
Cervical Wax ·
Casting Wax ·
Crown and Bridge Wax ·
Carving Wax ·
Die Lubricant ·
Die Spacer/Varnish ·
Die Material/Stone Plaster ·
Dowel Pins (All Types) ·
Duplicating Flasks ·
Duplicating Gel ·
Die/Model Making System ·
Diamond Burs/Discs (Coated and Sinter) ·
Electrolytic Polishing Liquid ·
Felt Wheels with Diamond Paste ·
Fluxes (All Types) ·
Flannel Buffs ·
Heat Absorbing Paste ·
Immersion Hardener ·
Investments (All Types) ·
Investment for Titanium ·
Light Curing Resin Material ·
Leather Buffs ·
Metals (All Types) ·
CB-80 ·
For Titanium ·
Chrome Cobalt ·
Muffle Decontamination Kit ·
Masking Agents (Self Hardening) ·
Model Former (Full and Half) ·
Microwave Curable Denture Material ·
Mesh Strengthener ·
Metal Clasps ·
Plaster Separator ·
Plaster Porcelain Separator ·
Plaster Hardening Liquids ·
Plaster Sealing Liquids ·
Porcelain Powders (All Types) ·
Precision Attachments ·
Plastic Patterns ·
Polishing Material ·
Plastic Sprue System ·
Palate Patterns ·
Precious/Semi Precious Metals ·
Retention Beads ·
Retention Rings ·
Ring Liners (Asbestos Free) ·
Rubber/Silicone Polishers ·
Retainers/Retention Grid ·
Silicone Duplicating Material ·
Silicone Mould For Cr and Br ·
Soft Relining Material ·
Solder (All Types) ·
Spruing System (Wax/Plastic) ·
Surface Tension Reducing Agent ·
Separating Discs ·
Sprue Wax ·
Steel Burs ·
Sprue Cutting Discs ·
Thermoforming Material ·
Tin Foil ·
Undercut Wax/Cement ·
Ultrasonic Cleaning Solutions ·
Waxes (All Types)
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Imports : |
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Countries : |
Germany, U.S.A, Switzerland, India, Japan and France |
GENERAL
INFORMATION
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Suppliers : |
Kalabhai Karson Private Limited |
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No. of Employees : |
10 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Pravinchandra and Company Chartered Accountants |
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Address : |
601-A, Niranjan, 99 Marine Drive, Mumbai – 400002,
Maharashtra, India |
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Tel. No.: |
91-22-22816478 |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50,000 |
Equity Shares |
Rs.
10/- each |
Rs. 0.500 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
45,000 |
Equity Shares |
Rs.
10/- each |
Rs. 0.450
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.450 |
0.450 |
0.450 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.600 |
1.600 |
1.600 |
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4] (Accumulated Losses) |
[0.783] |
[0.507] |
[1.000] |
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NETWORTH |
1.267 |
1.543 |
1.050 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.244 |
3.293 |
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2] Unsecured Loans |
5.490 |
5.716 |
5.894 |
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TOTAL BORROWING |
5.490 |
5.960 |
9.187 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
6.757 |
7.503 |
10.237 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.979 |
1.142 |
1.358 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.723 |
0.796 |
0.789 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
8.176
|
8.143 |
10.224 |
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Sundry Debtors |
2.363
|
2.542 |
2.521 |
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Cash & Bank Balances |
0.604
|
0.043 |
0.054 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
0.425
|
0.268 |
0.586 |
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Total
Current Assets |
11.568
|
10.996 |
13.385 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
6.189
|
5.216 |
5.186 |
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Provisions |
0.324
|
0.214 |
0.109 |
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Total
Current Liabilities |
6.513
|
5.430 |
5.295 |
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Net Current Assets |
5.055
|
5.566 |
8.090 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
6.757 |
7.503 |
10.237 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2004 |
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Sales Turnover |
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17.968 |
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Other Income |
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0.256 |
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Total Income |
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18.224 |
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Profit/(Loss) Before Tax |
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[0.057] |
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Provision for Taxation |
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[0.174] |
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Profit/(Loss) After Tax |
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[0.231] |
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Expenditures : |
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Cost of Goods Sold |
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12.860 |
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Administrative Expenses |
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|
4.273 |
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Selling Expenses |
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|
0.834 |
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Other Expenditure |
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|
0.314 |
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Total Expenditure |
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18.281 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
NA
|
NA |
[1.27] |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
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NA |
[0.32] |
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
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NA |
[0.39] |
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Return on Investment (ROI) (PBT/Networth) |
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NA
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NA |
[0.05] |
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Debt Equity Ratio (Total Liability/Networth) |
|
9.47
|
7.38 |
13.79 |
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Current Ratio (Current Asset/Current Liability) |
|
1.78
|
2.03 |
2.53 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Name of the company |
KALABHAI DENTAL
PRIVATE LIMITED |
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Presented By |
Union Bank of India, Vikhroli Branch |
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1) Date and description of instrument creating the change |
Hypothecation
agreement of goods dents and assets Dated 01.12.1995 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.500
Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
dental equipments and dental consumable materials which shall include all
produce, goods and moveable property of any kind now or at any time hereafter
belonging to or at the disposal of the borrower being stored or which
hereafter any from time to time be brought into or stored or be in or about
the burrower’s premises or Godown at 43/44 LBS Marg, Vikhroli [West] Mumbai –
400079 and at other centers in the Union of India and all other places of
storage. The borrower’s
book debts outstanding monies receivables, claims and bills which are now due
and owing or which may and any time hereafter during the continuance of this
security becoming due and owing to the borrower in the course of its business
by any person or party including any Government or any local or public body
or authority. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest at the
rate of 6.75 % p.a. above the RBI rate for Demand Loans from time to time
with a minimum rate of 18.75 % p.a. or time be fixed by the bank Margin – 25 % |
|
5) Name and Address and description of the person entitled to the charge. |
Union Bank of
India Vikhroli Branch,
Katrak Compound, L. B. S. Marg, Mumbai – 400079 |
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6) Date and brief description of instrument modifying the charge |
Dated 27.07.2001 The following
agreements executed in favour of Union Bank of India
Both agreement
constituted as single charge. |
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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. |
The agreements as
stated in item No. 6 hereof have been Bank of India on 27.07.2001 as a
continuing security to further secure the enhanced credit facility of Rs.
3.500 Millions together with interest,
additional interest, liquidated damages, compound interest premia on
prepayment or on redemption, costs, charges, expenses and other monies under
their loan agreement / letter of sanction / memorandum of terms and
conditions amended from time to time Credit Facility :
Rs. 3.500 Millions [Enhanced from Rs. 2.500 Millions] Interest : 15 %
p.a. with quarterly rest. |
Fixed
Assets
- Furniture and fixtures
- Plant and Machinery
- Vehicles
- Computers
- Office Equipments
- Air Conditioners
- Electrical
Fittings
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.39.57 |
|
UK Pound |
1 |
Rs.78.93 |
|
Euro |
1 |
Rs.56.85 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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. |
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 |
|