MIRA
INFORM REPORT
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Report Date : |
09.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
SAVVY
MARKETING PRIVATE LIMITED |
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Registered Office : |
21,
Marvin Vug, 7, Bungalows, Versova, Andheri (West), Mumbai-400061, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
02.08.1995 |
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Com. Reg. No.: |
11-91312 |
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CIN No.: [Company
Identification No.] |
U51900MH1995PTC091312 |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Importers
and Traders of Biotech and Office Equipments. |
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/normal. |
Small |
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Maximum Credit Limit : |
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Status : |
Small
company |
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a small importers and marketers of Biotech and Office Equipment products
from Korea, China and Hong Kong. Trade
relations are fair. Payments are usually correct. Present
management bought company in year 2003. They assured to provide latest
financials and shall up-date the same as soon as they provide. However,
in the meantime, subject can be considered for any business dealings on safe
and secured trade terms and conditions. |
LOCATIONS
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Registered Office : |
21,
Marvin Vug, 7, Bungalows, Versova, Andheri (West), Mumbai-400061, Maharashtra |
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Telefax No.: |
91-22-6324868 |
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E-Mail : |
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Corporate Office : |
B-202,
Indra Lok, Lokhandwala Complex, Andheri (West), Mumbai-400053, Maharashtra,
India |
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Tel. No.: |
91-22-26374438 |
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Fax No.: |
91-22-26374438 |
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E-Mail : |
DIRECTORS
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Name : |
Mr.
Pravir Kumar Dugar |
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Designation : |
Director |
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Address : |
21,
Marvin Vug, 7, Bungalows, Versova, Andheri (West), Mumbai-400061,
Maharashtra, India |
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Date of Appointment : |
02.08.1995 |
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Name : |
Mrs.
Suchita Pavir Dugar |
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Designation : |
Director |
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Address : |
21,
Marvin Vug, 7, Bungalows, Versova, Andheri (West), Mumbai-400061,
Maharashtra, India |
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Date of Appointment : |
02.08.1995 |
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Name : |
Ms.
Tulika Pravir Dugar |
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Designation : |
21,
Marvin Vug, 7, Bungalows, Versova, Andheri (West), Mumbai-400061,
Maharashtra, India |
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Date of Appointment : |
02.08.1995 |
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Name : |
Mr.
Praveen Morchhale |
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Designation : |
Director |
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Age : |
38
years |
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Qualification : |
Graduate |
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Experience |
15
years |
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Name : |
Mrs.
Geetanjali Morchhale |
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Designation : |
Director |
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Age : |
34
years |
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Qualification : |
Graduate |
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Experience |
12
years |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
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Mr.
Pravir Kumar Dugar |
100 |
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Mrs.
Suchita Dugar |
100 |
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Ms.
Tulika Dugar |
100 |
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Total |
300 |
BUSINESS DETAILS
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Line of Business : |
Importers
and Traders of Biotech and Office Equipments. |
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Imports from : |
Korea,
China and Hong Kong |
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Terms : |
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Selling : |
Cash
and Credit (30 days) |
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Purchasing : |
Advance
payment, D/A and D/P |
GENERAL
INFORMATION
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No. of Employees : |
6 |
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Bankers : |
v
Oriental
Bank of Commerce v
Global
Trust Bank v
Centurion
Bank of Punjab Limited, RNA Branch, Lokhandwala Complex, Andheri (West),
Mumbai-400059 |
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Banking Relations : |
Unknown |
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Auditors : |
Mr.
Sameer H. Gupta Chartered
Accountants, 405-B,
Kesari Nandan, Maruti Nagar, Shiv Vallabh Road, Dahisar (East), Mumbai-400068 |
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Tel. No.: |
91-22-28918197 |
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Sister Concerns : |
Pranjali
Films Private Limited Line
of Business : Marketing of Office
Equipments and Consumables Crania
Biotech Private Limited Line
of Business : Marketing of Biotech Products (Animal Feeds) |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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10000 |
Equity
Shares |
Rs.10/- each |
Rs.0.100 millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
|
300 |
Equity
Shares |
Rs.10/- each |
Rs.0.003 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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0.100 |
0.100 |
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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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0.010 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.110 |
0.100 |
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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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0.417 |
0.000 |
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TOTAL BORROWING |
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0.417 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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0.527 |
0.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
0.000 |
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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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0.040 |
0.000 |
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Sundry Debtors |
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0.632 |
0.000 |
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Cash & Bank Balances |
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0.059 |
0.000 |
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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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0.100 |
0.100 |
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Total Current Assets |
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0.831 |
0.100 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.304 |
0.000 |
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Provisions |
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0.000 |
0.000 |
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Total Current Liabilities |
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0.304 |
0.000 |
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Net Current Assets |
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0.527 |
0.100 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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0.527 |
0.100 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover [including other income] |
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2.417 |
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Profit/(Loss)
Before Tax |
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0.016 |
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Provision
for Taxation |
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0.006 |
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Profit/(Loss)
After Tax |
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0.010 |
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Total
Expenditure |
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2.401 |
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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0.46 |
NA |
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Net
Profit Margin (PBT/Sales) |
(%) |
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0.66 |
NA |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
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1.92 |
NA |
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Return
on Investment (ROI) (PBT/Networth) |
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0.14 |
NA |
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Debt
Equity Ratio (Total
Liability/Networth) |
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6.55 |
1.00 |
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Current
Ratio (Current
Asset/Current Liability) |
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2.73 |
0.00 |
LOCAL AGENCY
FURTHER INFORMATION
The
company’s registered office address was changed from :
12, 1st
Floor, Arun Bazar,
Opposite
Natraj Market,
S.V.
Road, Malad (West),
Mumbai-400064
To :
21,
Marvin Vug, 7,
Bungalows,
Versova,
Andheri
(West),
Mumbai-400061,
Maharashtra,
India
Director’s Report :
The
management is in the process of discussion with various clients for some big
projects. The management is very optimistic about the future prospects of the
company and expects to post a much healthier picture during the next year.
Company’s
fixed assets include Computers and Refrigerators.
References :
Mr.
Praveen Kumar
General
Manager, Godrej Agrovet Limited, Godrej Industries, Off Eastern Express
Highway, Vikroli, Mumbai
Tel. No.
91-22-2741182
Dr. S.C.
Das
Head,
Veterinary Department, Amul Dairy, Amul Road, Anand-388001, Gujarat
Tel.
No.: 91-2692-259062/ 91-2692-240225
Mr.
Anirudha Digraskar
AM
Consulatants, E-502, Pennace Kanchanganga, Aundh, Pune
Tel.
No.:91-20-9371021401
Dr. P.
R. Pande
General
Manager, (Vet And Animal Feed Plant), Sumul Dairy, Surat-395008, Gujarat
Tel. No.:
91-253-2538717/ 2531666
Ms. Judy
Multi
Tech Company, Unit A, 8/F, Windsor Mansion, 29031, Chatham Road, Kowloon, Hong
Kong
Tel.
No.: 86-139-23850758
Mr.
David Yoon
General
Manager, Insect Biotech Company Limited, 461-7, Jeonmin-dong, Yusong-gu, Daejon-350811,
Korea
Tel.
No.:82-42-8628441
Mr.
Xiubing Tang
Deputy
General Manager, Wuxi Lion Vehicle Industry Company Limited, Jinxin Road, Xibei
Town, Xishan District, Wuxi City, Jigshu Province, China-214194
Tel.
No.:86-510-88658828/ 88718295
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.44.16 |
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UK
Pound |
1 |
Rs.86.00 |
|
Euro |
1 |
Rs.57.56 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
|
30 |
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/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 |
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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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