MIRA
INFORM REPORT
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Report Date : |
10.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
SONA
COMMERCIAL PRIVATE LIMITED |
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Registered Office : |
B
18/5, D S Ramesh Nagar, Near Raja Garden Crossing, New Delhi-110015 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
26.04.1995 |
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Com. Reg. No.: |
55-67834 |
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CIN No.: [Company
Identification No.] |
U74899DL1995PTC067834 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS22264E |
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PAN No.: [Permanent
Account No.] |
AABCS8898N |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
To carry
on all or any of the following business such as traders, importers,
exporters, dealers, distributors and commission agents of natural crude oil,
refined oil perfumed, essential oils, menthol products, flavour compound
extracts of spices, herb medicinal chemicals, fragrances, toiletries,
aromatic chemicals and all other type of oil and extracting by products there
of. To
carry on all or any of the following business such as traders, importers,
exporters, dealers, distributors and commission agents of natural crude oil,
chemicals, reagents, solvents. |
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
20000 |
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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 are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
B
18/5, D S Ramesh Nagar, Near Raja Garden Crossing, New Delhi-110015, India |
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E-Mail : |
DIRECTORS
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Name : |
Mr.
Amarnath Suneja |
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Designation : |
Director |
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Address : |
F-50,
Preet Vihar, New Delhi-110092, India |
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Date of Birth/Age : |
09.11.1934 |
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Date of Appointment : |
03.02.2004 |
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Name : |
Mr.
Sanjay Suneja |
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Designation : |
Director |
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Address : |
F-50,
Preet Vihar, New Delhi-110092, India |
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Date of Birth/Age : |
15.10.1964 |
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Date of Appointment : |
10.12.2002 |
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Name : |
Mr.
Krishan Chander Suneja |
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Designation : |
Director |
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Address : |
F-50,
Preet Vihar, New Delhi-110092, India |
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Date of Birth/Age : |
13.01.1967 |
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Date of Appointment : |
10.12.2002 |
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Name : |
Mr.
Shyam Suneja |
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Designation : |
Director |
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Address : |
F-50,
Preet Vihar, New Delhi-110092, India |
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Date of Birth/Age : |
06.09.1969 |
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Date of Appointment : |
10.12.2002 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
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Mr.
Amarnath Suneja |
10000 |
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Mr.
Sanjay Suneja |
3400 |
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Mr.
Krishan Chander Suneja |
3300 |
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Mr.
Shyam Suneja |
3300 |
BUSINESS DETAILS
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Line of Business : |
To
carry on all or any of the following business such as traders, importers, exporters,
dealers, distributors and commission agents of natural crude oil, refined oil
perfumed, essential oils, menthol products, flavour compound extracts of
spices, herb medicinal chemicals, fragrances, toiletries, aromatic chemicals
and all other type of oil and extracting by products there of. To
carry on all or any of the following business such as traders, importers,
exporters, dealers, distributors and commission agents of natural crude oil,
chemicals, reagents, solvents. |
GENERAL
INFORMATION
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No. of Employees : |
About
10 |
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Bankers : |
Ř
Punjab
National Bank, Darya Ganj, Delhi, India Ř
HDFC Bank Limited, Ansal Classic
Tower, 9th Floor, Rajouri Garden, New Delhi |
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Banking Relations : |
Satisfactory |
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Auditors : |
Anil Singhal
& Associates Chartered
Accountants 1304,
Pragati Tower, Rajendra Place, New Delhi-110008, India |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity
Shares |
Rs.10/- each |
Rs.10.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
290000 |
Equity
Shares |
Rs.10/- each |
Rs.2.900 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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2.900 |
2.700 |
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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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2.838 |
2.542 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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5.738 |
5.242 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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5.528 |
12.020 |
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TOTAL BORROWING |
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5.528 |
12.020 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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11.266 |
17.262 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.513 |
0.922 |
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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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1.037 |
1.527 |
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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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7.816 |
10.543 |
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Sundry Debtors |
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54.240 |
35.615 |
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Cash & Bank Balances |
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0.352 |
0.645 |
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Other Current Assets |
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2.854 |
0.876 |
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Loans & Advances |
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1.427 |
0.000 |
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Total Current Assets |
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66.689 |
47.679 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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58.676 |
32.950 |
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Provisions |
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0.397 |
0.050 |
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Total Current Liabilities |
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59.073 |
33.000 |
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Net Current Assets |
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7.616 |
14.679 |
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MISCELLANEOUS EXPENSES |
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0.100 |
0.134 |
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TOTAL |
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11.266 |
17.262 |
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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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PAT / Total Income |
(%) |
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NA |
NA |
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Net
Profit Margin (PBT/Sales) |
(%) |
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NA |
NA |
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Return on
Total Assets (PBT/Total
Assets} |
(%) |
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NA |
NA |
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Return
on Investment (ROI) (PBT/Networth) |
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NA |
NA |
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Debt
Equity Ratio (Total
Liability/Networth) |
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11.26 |
8.59 |
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Current
Ratio (Current
Asset/Current Liability) |
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1.13 |
1.44 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or modification of
charges
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Name of the company |
SONA COMMERCIAL PRIVATE LIMITED |
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Presented By |
Company and HDFC Bank Limited |
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1) Date and description of instrument creating the change |
Letter of hypothecation dated 30.09.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 17.500 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 |
All present and future stock in trade, book debts and other merchandise and fixed assets of the company shall be hypothecated to the bank by way of first charge. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest as may be determined by the bank from time to time. |
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5) Name and Address and description of the person entitled to the charge. |
HDFC Bank Limited Ansal Classic Tower, 9th Floor, Rajouri Garden, New Delhi |
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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. |
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Name of the company |
SONA COMMERCIAL PRIVATE LIMITED |
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Presented By |
PUNJAB NATIONAL BANK |
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1) Date and description of instrument creating the change |
28.10.2004 Hypothecation of goods and book debts to secure cash credit facility. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.7.500 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 stocks, paper including imported papers and other security acceptable to bank. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest @ 10.75% p.a. Margin – Stock 25%, Book Debts 40% |
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5) Name and Address and description of the person entitled to the charge. |
Punjab National bank Darya Ganj, New Delhi |
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6) Date and brief description of instrument modifying the charge |
Nil |
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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. |
Nil |
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.44.06 |
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UK
Pound |
1 |
Rs.86.34 |
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Euro |
1 |
Rs.57.46 |
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 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
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 |
|
45 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
|
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 |
|
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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