MIRA
INFORM REPORT
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Report Date : |
23rd February, 2007 |
IDENTIFICATION
DETAILS
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Correct Name : |
TIRUPATI AGENCIES PRIVATE LIMITED |
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Registered Office : |
Sahajanand Compound, Acharya Donde Marg, Sewree, Mumbai – 400 015, Maharashtra,
India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
20.01.1981 |
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Com. Reg. No.: |
11-42836 |
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CIN No.: [Company
Identification No.] |
U51109MH1987PTC042836 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALT00925B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Act as and carry on the business of the Selling Agents of any company to
act as middleman in respect of all goods, merchandise and services. |
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 : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is relatively small company having satisfactory track.
Directors are reported as experienced and respectable businessmen. Trade relations
are fair. Business is active. Payments are however reported as slow but
correct. The company can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
Sahajanand Compound, Acharya Donde Marg, Sewree, Mumbai – 400 015,
Maharashtra, India |
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Tel. No.: |
91-22-24132657 |
SOLE
PROPRIETOR/PARTNERS/DIRECTORS
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Name : |
Mr. Gopalbhai Navinbhai Dave |
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Designation : |
Director |
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Address : |
39 Shanti Niketan, 95-A, Marine Drive, Mumbai – 400 002, Maharashtra,
India |
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Date of Birth/Age : |
31.03.1965 |
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Date of Appointment : |
11.03.1987 |
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Name : |
Mrs. Devenshi Gopalbhai Dave |
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Designation : |
Director |
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Address : |
39 Shanti Niketan, 95-A, Marine Drive, Mumbai – 400 002, Maharashtra,
India |
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Date of Birth/Age : |
02.09.1966 |
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Date of Appointment : |
15.10.1991 |
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MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Mr. Gopalbhai Navinbhai Dave |
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60 |
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Mrs. Devenshi Gopalbhai Dave |
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10 |
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Sahajanand Agencies Private Limited |
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9884 |
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Shreeji Real Properties Private Limited |
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24540 |
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Sahajanand Engineering Works Private Limited |
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4208 |
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Mr. Nikhil V Merchant |
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1400 |
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Dave Impex Private Limited |
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9900 |
BUSINESS DETAILS
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Line of Business : |
Act as and carry on the business of the Selling Agents of any company to
act as middleman in respect of all goods, merchandise and services. |
GENERAL
INFORMATION
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No. of Employees : |
-- |
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors 1 : |
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Name : |
Rajesh K Shah and Company Chartered Accountants |
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Address : |
101/ 102, Akashdeep Complex, Near Kalanala, Bhavnagar – 364 001,
Gujarat, India |
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Tel. No.: |
91-278-2411919 |
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Mobile No.: |
91-9820367177 |
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E-Mail : |
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Auditors 2 : |
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Name : |
Chetan J Mehta Chartered Accountants |
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Address : |
Raghuvir Bhuvan, Malavia Road, Rajkot – 360 002, Gujarat, India |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- |
Rs. 0.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- |
Rs. 0.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
0.500 |
0.500 |
0.500 |
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2] Reserves & Surplus |
4.533 |
4.536 |
4.577 |
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NETWORTH |
5.033 |
5.036 |
5.077 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
1.453 |
1.453 |
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2] Unsecured Loans |
1.100 |
0.000 |
0.000 |
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TOTAL BORROWING |
1.100 |
1.453 |
1.453 |
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TOTAL |
6.133 |
6.489 |
6.530 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
5.949 |
6.577 |
6.577 |
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CURRENT ASSETS, LOANS & ADVANCES |
0.186 |
0.018 |
0.065 |
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Total
Current Assets |
0.186
|
0.018 |
0.065 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
0.002
|
0.106 |
0.112 |
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Total
Current Liabilities |
0.002
|
0.106 |
0.112 |
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Net Current Assets |
0.184
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(0.088) |
(0.047) |
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TOTAL |
6.133 |
6.489 |
6.530 |
PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
0.000 |
0.000 |
0.000 |
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Other Income |
0.000 |
0.002 |
0.000 |
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Total Income |
0.000 |
0.002 |
0.000 |
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Profit/(Loss) Before Tax |
(0.005) |
(0.029) |
0.001 |
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Provision for Taxation |
0.000 |
0.000 |
0.000 |
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Profit/(Loss) After Tax |
(0.005) |
(0.029) |
0.001 |
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Total Expenditure |
0.005 |
0.031 |
0.003 |
LOCAL AGENCY
FURTHER INFORMATION
History
The company registered in 1981 in Kolkata, West Bengal, India, having
Registration Number 21-33296 as private limited company. Now the registered
office of the company has been transferred to Mumbai, Maharashtra, having
Registration Number 11-42836, w.e.f. 11.03.1987 as private limited
company.
Group Profile
The Tirupati Group of
companies saw its inception in the year 1956 with its first venture, Mill
Stores and Bearing Company.
Mill Stores became a Marketing and Distribution agent for NSK, Japan, world
leaders in Bearing, Automotive Components, precision machine parts and
Mechatronics Products in the year 1975. In the years that followed, the company
grew from strength to strength - and became one of India's leading suppliers of
NSK's products to the quality and cost conscious Indian market. Tirupati
Agencies was then founded in 1981, and the agency for NSK transferred to the
new company.
The year 2001 saw the Tirupati Group diversifying into infrastructure, India’s
sunshine industry, with the formation of Nandini Impex, a company primarily
engaged in trench less horizontal direct drilling for laying of Ducts, Cables
and Steel Pipes for Telecom, Oil and Gas, Electric and Water utilities. It is
now India’s largest HDD machine owners and contractors.
Tirupati has also forayed into the promising Real Estate market by teaming up
with the successful Akshara Group and Shrachi Group of Companies to co-promote
and develop a number of commercial and residential properties in Kolkata, West
Bengal.
The personalized and prompt service has lead to a large client base of
satisfied customers including Indian Railways, SAIL, B.H.E.L., State Electricity Boards,
Reliance telecom and other major
steel re-rolling units and mills.
Tirupati's USP lies in its assistance in Selection, Application and Maintenance
of the various products and services it deals in.
Mission
"To serve the Indian industry
by maintaining high standards of efficiency by supplying high quality products
in time and at the right prices" has enabled this
group to venture into various related fields keeping the same idea in mind
while winning the confidence of our esteemed customers.
Products
and Services
The Tirupati Group offers the various
products and services:
Tirpuati Agencies Private Limited :
Agents for :
NSK Japan
- Ball Bearings
- Roller Bearings
- Precision and Machine Components
Mill Stores and
Bearing Company
- Agents for - Twin Disc USA - Power Transmission
Nandini Impex
Private Limited
- Infrastructure Solutions
The major segments serviced by us include:
- Automotive
- Railways
- Power
- Steel
- Machine Tools
- Earth Moving and Material Handling Equipment
- Heavy Engineering and General machinery
- Communications
Contact
Head Office :
10, Biplabi Rash Behari Basu Road, Kolkata- 700 001, West Bengal, India
Tel: 91-33-2230 0631/32/33
Fax: 91-33-22484751
Email : kolkata@tirupatigr.com
Contact Person: Mr.M.P.Dalmia
Mumbai Branch :
182/184, Nagdevi Street, Mumbai – 400 003, Maharashtra, India
Tel: 91–022-2342 0659/23444218
Fax: 91–022-2340 1884
Ee mail : Mumbai@tirupatigr.com , taplbom@yahoo.com
Contact Person: Mr.N.R.Vora
Bangalore Branch :
119,Raheja Arcade, Koramangala, Bangalore- 560 095, Karnataka, India
Tel: 91-080-2553 3680
Fax: 91-080-2553 3471
Email : bangalore@tirupatigr.com , anpathak60@yahoo.com
Contact Person: Mr.A.N.Pathak (Technical Advisor.)
New Delhi Branch :
C-628, New friends Colony, New Delhi- 110 065, India
Tel: 91–011-32978039
Fax: 91–011-26932001
Email : taplnewdelhi@tirupatigr.com
Contact Person: Mr.Pratap Singh Baid.
For Infrastructure
Division :
New Delhi
Branch :
1/18-20, Rani Jhansi Road, White House, New Delhi- 110 055, India
Tel: 91–011-39492819/39495647
Fax : 91–11-23546218
Email : nandini-delhi@tirupatigr.com
Contact Person: Mr.P.K.Tibrawalla, Col.Diwan
For Real Estate:
Lakshmi
Holdings Private Limited
10, Biplabi Rash Behari Basu Road, Kolkata – 700 001, West Bengal, India
Tel : 91–33-2230 0631/32/33
Fax : 91–33-22484751
Email : anish@tirupatigr.com
Contact Person: Mr.Arun Shroff and Mr.Anish Hemani
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. 44.28 |
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UK Pound |
1 |
Rs. 86.64 |
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Euro |
1 |
Rs. 58.10 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
-- |
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--PROFITABILIRY |
1~10 |
1 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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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 |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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26 |
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
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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 |
|
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 |
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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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PRIVATE
& CONFIDENTIAL : This information is provided to you at
your request, you having employed MIPL for such purpose. You will use the
information as aid only in determining the propriety of giving credit and
generally as an aid to your business and for no other purpose. You will hold
the information in strict confidence, and shall not reveal it or make it known
to the subject persons, firms or corporations or to any other. MIPL does not
warrant the correctness of the information as you hold it free of any liability
whatsoever. You will be liable to and indemnify MIPL for any loss, damage or
expense, occasioned by your breach or non observance of any one, or more of
these conditions