MIRA
INFORM REPORT
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Report Date : |
05.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
ELYMER
INTERNATIONAL PRIVATE LIMITED |
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Registered Office : |
37 Bungalow Road, 1st Floor, Kamla Nagar, New Delhi - 110007 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
17.09.1996 |
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Com. Reg. No.: |
55 –
82001 |
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CIN No.: [Company
Identification No.] |
U31100DL1996PTC082001 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELE01801C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing of Energy Meters (Single Phase & Three Phase) and Electromechanical Meters. To
carry on the business of electricians, electrical engineers and manufacturers
of all kinds of electrical machinery and electrical apparatus, transformers,
for any purpose whatsoever and to manufacture, sell, supply and deal in
accumulators, lamps, meters, engines, dynamos, batteries, telephonic or
telegraphic apparatus of any kind. |
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
1000000 |
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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. Directors reported as experienced and
respectable businessmen. Trade
relations are 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 : |
37
Bungalow Road, 1st Floor, Kamla Nagar, New
Delhi - 110007 |
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Tel. No.: |
91-11-27662358/27662372/27662351-54 |
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Fax No.: |
91-11-27662355/56 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Ajesh Gupta |
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Designation : |
Managing
Director |
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Address : |
13/1
Rajpur Road, Civil Lines, Delhi – 110054 |
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Date of Birth/Age : |
19.08.1965 |
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Date of Appointment : |
27.09.1996 |
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Name : |
Mrs. Aparna Gupta |
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Designation : |
Whole
Time Director |
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Address : |
13/1
Rajpur Road, Civil Lines, Delhi – 110054 |
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Date of Birth/Age : |
20.09.1966 |
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Date of Appointment : |
27.09.1996 |
KEY EXECUTIVES
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Name
: |
Mr.
Bidyut Baran Mallick |
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Designation
: |
Secretary
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Address
: |
Flat
No. A – 9/ 35, Sector – 18, Rohini, Delhi – 110085 |
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Date
of Birth/Age : |
09.04.1972 |
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Date
of Appointment : |
05.07.2005 |
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Name
: |
Mr.
Pradeep Kumar Jain |
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Designation
: |
Secretary
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Address
: |
P –
62/5, Pandav Nagar, Mayur Vihar Phase One, Delhi – 110091 |
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Date
of Birth/Age : |
05.05.1968 |
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Date
of Appointment : |
05.07.2006 |
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PAN
No. : |
AALPJ2605F |
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Name
: |
Sh.
Khursheed Alam |
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Designation
: |
Company
Secretary |
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Address
: |
C/o.
Moin Khan, 250, Jhelum Hostel, JNU, New Delhi - 110067 |
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Date
of Appointment : |
16.06.2003 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
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No. of Shares |
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Mr.
Ajesh Gupta |
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401800 |
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Mrs.
Aparna Gupta |
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354400 |
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Elymer
Electrics Private Limited |
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1750000 |
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Prudent
Data Services Private Limited |
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1109600 |
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TOTAL |
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3615800 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Energy Meters (Single Phase & Three Phase) and Electromechanical Meters. To
carry on the business of electricians, electrical engineers and manufacturers
of all kinds of electrical machinery and electrical apparatus, transformers,
for any purpose whatsoever and to manufacture, sell, supply and deal in
accumulators, lamps, meters, engines, dynamos, batteries, telephonic or
telegraphic apparatus of any kind |
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Products : |
Electronic/Static Meters Electromechanical Meters |
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Brand Names : |
“ELYMER” |
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Imports from : |
Taiwan, Germany, South Africa, USA,
China, Singapore and Korea |
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Terms : |
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Selling : |
Cash, Contract or Credit (30/60/120 days) |
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Purchasing : |
L/C or Credit (30/60/90 days) |
GENERAL
INFORMATION
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Suppliers : |
Ř Siemens Matsushita Components Gmbh Company Kg., Germany Ř South Africa Micro Electronics Systems Private Limited, South Africa Ř American Pioneer Electronics Inc., New Jersey, USA Ř Shanghai No.2 Clock & Watch Components Factory., Shanghai, China Ř Vitronics Soltec., USA Ř Dek Asia Pacific Limited, Singapore Ř Samsung Aerospace Industrial Limited, Korea Ř Dalmia Cement (Bharat) Limited, New Delhi Ř Victor Components Systems Private Limited, New Delhi Ř Teasure Tech Electronics Limited, New Delhi Ř Permanent Magnetic, Nasik, Maharashtra Ř Precision Industrial Product |
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Customers : |
Government Bodies Some of the major customers of the company are as follows: Ř Maharashtra State Electricity Board, India Ř Elymer Electric Ř Delhi Vidyut Board Ř Tamilnadu State Electricity Board Ř Uttar Pradesh State Electricity Board Ř Rajasthan State Electricity Board Ř West Bengal Electricity Board Ř Other State Electricity Board |
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No. of Employees : |
225 |
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Bankers : |
Ř Canara Bank, Fountain, Chandani Chowk, Delhi - 110 006 Ř Canara Bank, Faridabad, Haryana, India |
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Banking Relations : |
Satisfactory
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Auditors : |
Rajan
Bansal & Associates Chartered
Accountants, A –
69, Vijay Block, Laxmi Nagar, Delhi – 110092 PAN
No. : AADPB7555J |
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Associates : |
Elymer Electric India Limited |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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4000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 40.000 millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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3615800 |
Equity
Shares |
Rs. 10/- each |
Rs. 36.158 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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36.158 |
36.158 |
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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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247.586 |
216.037 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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283.744 |
252.195 |
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LOAN FUNDS |
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1] Secured Loans |
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194.040 |
169.514 |
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2] Unsecured Loans |
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3.911 |
51.273 |
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TOTAL BORROWING |
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197.951 |
220.787 |
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DEFERRED TAX LIABILITIES |
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20.243 |
18.885 |
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TOTAL |
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501.938 |
491.867 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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114.160 |
117.815 |
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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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0.000 |
0.000 |
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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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159.273 |
160.628 |
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Sundry Debtors |
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291.208 |
316.248 |
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Cash & Bank Balances |
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26.748 |
23.281 |
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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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44.604 |
45.768 |
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Total Current Assets |
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521.833 |
545.925 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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124.959 |
162.955 |
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Provisions |
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9.193 |
9.065 |
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Total Current Liabilities |
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134.152 |
172.020 |
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Net Current Assets |
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387.681 |
373.905 |
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MISCELLANEOUS EXPENSES |
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0.097 |
0.147 |
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TOTAL |
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501.938 |
491.867 |
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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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1.17 |
1.55 |
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Current
Ratio (Current
Asset/Current Liability) |
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3.88 |
3.17 |
LOCAL AGENCY
FURTHER INFORMATION
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Name of the company |
ELYMER INTERNATIONAL PRIVATE LIMITED |
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Presented By |
Canara Bank, Fountain, Delhi – 110006 |
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1) Date and description of instrument creating the change |
Agreement for Discounting of Supply Bills dated 14.12.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 10.000 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Advance against supply bills drawn on various parties for supply of goods to them etc. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The above is to secure all amounts payable under a Adhoc Supply Bills limit of Rs. 10.000 millions granted to the company together with interest @ 1% p.a. over BPLR of the bank subject to a minimum of 11.75% p.a. of monthly rest or at such rates as may be specified by the bank from time to time with an overdue interest of 2% p.a. over and above the interest rate charged in the account, in case of default The supply bills discounted under the limit shall not outstand beyond 120 days. Payable on demand |
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5) Name and Address and description of the person entitled to the charge. |
Canara Bank Fountain, Delhi – 110006 |
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6) Date and brief description of instrument modifying the charge |
Supplemental Collateral Security Agreement dated 14.12.2005 |
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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. |
All amounts payable under Adhoc Supply Bills limit of Rs. 10 millions together with all interests, costs, charges, expenses etc. stands collaterally, secured by new plant & machinery and other fixed assets of the company installed / stored affixed or to be installed / stored / affixed at company’s premises at Plot No. 8, Sector – 27, Faridabad [Haryana] or wheresover it may be including those in transit Other terms and conditions remained the same. |
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Name of the company |
ELYMER INTERNATIONAL PRIVATE LIMITED |
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Presented By |
Canara Bank, Fountain, Delhi – 110006 |
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1) Date and description of instrument creating the change |
Agreement for Discounting of Supply Bills dated 14.12.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 10.000 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Advance against supply bills drawn on various parties for supply of goods to them etc. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The above is to secure all amounts payable under a Adhoc Supply Bills limit of Rs. 10.000 millions granted to the company together with interest @ 1% p.a. over BPLR of the bank subject to a minimum of 11.75% p.a. of monthly rest or at such rates as may be specified by the bank from time to time with an overdue interest of 2% p.a. over and above the interest rate charged in the account, in case of default The supply bills discounted under the limit shall not outstand beyond 120 days. Payable on demand |
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5) Name and Address and description of the person entitled to the charge. |
Canara Bank Fountain, Delhi – 110006 |
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6) Date and brief description of instrument modifying the charge |
N.A. |
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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. |
N.A. |
WEBSITE
DETAILS
Elymer, an ISO-9001 certified organization, is the largest manufacturer of domestic single phase and three phase electronic and electromechanical energy meters 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 |
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US
Dollar |
1 |
Rs.44.11 |
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UK
Pound |
1 |
Rs.86.79 |
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Euro |
1 |
Rs.57.44 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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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 |
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 |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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48 |
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 |
|
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 |
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