MIRA
INFORM REPORT
|
Report Date : |
06.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
V I
OFFICE EQUIPMENT PRIVATE LIMITED |
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|
|
|
Registered Office : |
No.
13, Kamala Arcade, 669, New No. 306, Mount Road, Chennai – 600006, Tamilnadu |
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Country : |
India |
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|
Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
11.04.1989 |
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Com. Reg. No.: |
01-7214 |
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|
CIN No.: [Company
Identification No.] |
U51909TN1989PTC017214 |
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|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHEV00516F |
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|
|
|
Legal Form : |
Private
Limited Liability Company |
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|
|
|
Line of Business : |
Manufacturer
of articles of paper and paperboard. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD
35000 |
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|
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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 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
|
Registered Office : |
No.
13, Kamala Arcade, 669, New No. 306, Mount Road, Chennai – 600006, Tamilnadu,
India |
|
Tel. No.: |
91-44-28297188 / 28523688 / 28553956 / 28528916 |
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Mobile No.: |
|
|
Fax No.: |
91-44-28297326
/ 28521326 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr.
Vijay Chand Baid |
|
Designation : |
Chairman
cum Managing Director |
|
Address : |
B -4
-4, Silver Park Apartments, 24 Thani Kachalam Road, T. Nagar, Chennai –
600017, Tamilnadu, India |
|
Date of Birth/Age : |
25.11.1958 |
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Date of Appointment : |
01.06.1996 |
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|
|
|
Name : |
Mr.
Navratan Baid |
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Designation : |
Whole
Time Director |
|
Address : |
B -4
-4, Silver Park Apartments, 24 Thani Kachalam Road, T. Nagar, Chennai –
600017, Tamilnadu, India |
|
Date of Birth/Age : |
05.08.1957 |
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Date of Appointment : |
11.04.1989 |
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|
|
|
Name : |
Ms.
Sunita Baid |
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Designation : |
Whole
Time Director |
|
Address : |
B -4
-4, Silver Park Apartments, 24 Thani Kachalam Road, T. Nagar, Chennai –
600017, Tamilnadu, India |
|
Date of Birth/Age : |
05.03.1967 |
|
Date of Appointment : |
01.06.1996 |
KEY EXECUTIVES
|
Name
: |
Mr. S.
Sridhar |
|
Designation
: |
Senior
Manager |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
Navratan
Baid |
|
13600 |
|
Vijay
Chand Baid |
|
69700 |
|
Priyankar
Baid |
|
12300 |
|
Praghya
Baid |
|
5100 |
|
Preksha
Baid |
|
4500 |
|
Subukaran
Baid |
|
500 |
|
Indira
Devi Baid |
|
18300 |
|
Ujjuwal
Baid |
|
1500 |
|
Bhavuk
Baid |
|
6300 |
|
Muskan
Baid |
|
4300 |
|
Vaishaly
Baid |
|
3200 |
|
Usha
Devi Baid |
|
2300 |
|
Prerna
Baid |
|
3500 |
|
Jinesh
Baid |
|
5400 |
|
Mamol’s
Baid |
|
500 |
|
Anandamal
Baid |
|
12700 |
|
Nilesh
Kumar Baid |
|
23000 |
|
Rajendra
Kumar Kochra |
|
5000 |
|
Vijay
Kumar Marott |
|
400 |
|
Rajesh
Surana |
|
10000 |
|
Chindamani
Vyabar Private Limited |
|
243000 |
|
Meera
Devi Baid |
|
40900 |
|
Sunita
Baid |
|
3000 |
|
Bharathi
Baid |
|
10500 |
|
Manimudra
Vincom Private Limited |
|
10000 |
|
Caplin
Commercial Private Limited |
|
10000 |
|
BPO
Finance and Investments Private Limited |
|
20000 |
|
Sharp
Investments Limited |
|
10000 |
|
Ashoka
Kumar |
|
10 |
|
Total |
|
549510 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of articles of paper and paperboard. |
|
|
|
|
Products : |
Thermal
Transformer Ribbon |
GENERAL
INFORMATION
|
Bankers : |
Canara
Bank, Thousand
Lights, 5,
Greams Road, Chennai
– 600006 |
|
|
|
|
|
|
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Banking Relations : |
Satisfactory
|
|
|
|
|
Auditors : |
S. C.
Bichhavat Chartered
Accountants No.
160, Govindappa, Naicken Street, 3rd Floor, Chennai – 600001,
Tamilnadu, India |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
600000 |
Equity
Shares |
Rs. 10/- each |
Rs. 6.000 Millions |
|
|
|
|
|
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
549510 |
Equity
Shares |
Rs. 10/- each |
Rs. 5.495 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
5.495 |
5.495 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
3.535 |
3.296 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
9.030 |
8.791 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
12.010 |
5.762 |
|
|
2] Unsecured Loans |
|
9.793 |
3.292 |
|
|
TOTAL BORROWING |
|
21.803 |
9.054 |
|
|
DEFERRED TAX LIABILITIES |
|
0.226 |
0.231 |
|
|
|
|
|
|
|
|
TOTAL |
|
31.059 |
18.076 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1.863 |
1.511 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
28.251 |
21.177 |
|
|
Sundry Debtors |
|
16.416 |
15.332 |
|
|
Cash & Bank Balances |
|
4.245 |
4.931 |
|
|
Loans & Advances |
|
1.811 |
0.823 |
|
Total Current Assets |
|
50.723 |
42.263 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
21.533 |
25.706 |
|
|
Provisions |
|
|
|
|
Total Current Liabilities |
|
21.533 |
25.706 |
|
|
Net Current Assets |
|
29.190 |
16.557 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.006 |
0.008 |
|
|
|
|
|
|
|
|
TOTAL |
|
31.059 |
18.076 |
|
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
4.80 |
3.95 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
2.36 |
1.64 |
LOCAL AGENCY
FURTHER INFORMATION
|
Name of the company |
V I OFFICE EQUIPMENT PRIVATE LIMITED |
|
Presented By |
V I OFFICE EQUIPMENT PRIVATE LIMITED |
|
Date and description of instrument creating the change |
21.12.1993
Hypothecation agreement on stock |
|
Amount secured by the charge/amount owing on the securities of charge |
Rs.
0.500 Millions |
|
Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Stock
of Imported Thermal paper, fax roll papers, floppies etc |
|
Gist of the terms and conditions and extent and operation of the charge. |
OCC –
Rs. 0.500 Millions payable on demand ROI @ 16.58 % P. A. |
|
Name and Address and description of the person entitled to the charge. |
Canara
Bank, Thousand Lights, 5, Greams Road, Chennai – 600006 |
|
Date and brief description of instrument modifying the charge |
Supplemental
Agreement dated 27.12.2001 for enhancing the OCC limits upto Rs. 5.500
Millions |
|
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. |
On
27.12.2001 the existing OCC limits of Rs. 4.0 Millions is enhanced to Rs. 5.5
millions Total
limits becomes Now Rs. 16.5 Millions OCC :
Rs. 5.5 Millions FLC /
ILC : Rs. 10 Millions CDB /
LCDB : Rs. 1.00 Millions |
|
Name of the company |
V I OFFICE EQUIPMENT PRIVATE LIMITED |
|
Presented By |
Canara Bank, Thousand Lights, 5, Greams
Road, Chennai – 600006 |
|
Date and description of instrument creating the change |
21.12.1993
Hypothecation agreement on stock |
|
Amount secured by the charge/amount owing on the securities of charge |
Rs.
0.500 Millions |
|
Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Stock
of Imported Thermal paper, fax roll papers, floppies etc |
|
Gist of the terms and conditions and extent and operation of the charge. |
OCC –
Rs. 0.500 Millions payable on demand ROI @ 16.58 % P. A. |
|
Name and Address and description of the person entitled to the charge. |
Canara
Bank, Thousand Lights, 5, Greams Road, Chennai – 600006 |
|
Date and brief description of instrument modifying the charge |
Hypothecation
agreement of goods and book debts dated 16.02.2002 for sanctioning of FLC
limits of Rs. 2.5 Millions |
|
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. |
On
16.02.2002 in addition to the existing FLC limits of Rs. 10 millions Bank is
sanctioned FLC limits for Rs. 2.5 millions 60
days usance, in he e vent of crystallisation of liabilities ROI @ 18.25 % Total
Limits are OCC : Rs. 5.5 Millions FLC /
ILC : Rs. 12.5 Millions CDB :
Rs. 1.00 Millions |
|
Name of the company |
V I OFFICE EQUIPMENT PRIVATE LIMITED |
|
Presented By |
Canara Bank, Thousand Lights, 5, Greams
Road, Chennai – 600006 |
|
Date and description of instrument creating the change |
21.12.1993
Hypothecation agreement on stock |
|
Amount secured by the charge/amount owing on the securities of charge |
Rs.
0.500 Millions |
|
Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Stock
of Imported Thermal paper, fax roll papers, floppies etc |
|
Gist of the terms and conditions and extent and operation of the charge. |
OCC –
Rs. 0.500 Millions payable on demand ROI @ 16.58 % P. A. |
|
Name and Address and description of the person entitled to the charge. |
Canara
Bank, Thousand Lights, 5, Greams Road, Chennai – 600006 |
|
Date and brief description of instrument modifying the charge |
Hypothecation
agreement of goods and book debts dated 15.03.2002 for sanctioning of FLC
limits of Rs. 15 Millions Supplemental
common hypothecation agreement dated 15.03.2002 for enhancing the total
limits form Rs. 15 Millions to Rs. 20 millions |
|
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. |
On
15.03.2002 Existing regular FLC / ILC limits of Rs. 10 millions is enhanced
to Rs. 15 Millions 60
days usance, in he e vent of crystallisation of liabilities ROI @ 18.25 % Total
Limits are OCC : Rs. 4.00 Millions FLC /
ILC : Rs. 15.00 Millions CDB :
Rs. 1.00 Millions |
|
Name of the company |
V I OFFICE EQUIPMENT PRIVATE LIMITED |
|
Presented By |
Canara Bank, Thousand Lights, 5, Greams
Road, Chennai – 600006 |
|
Date and description of instrument creating the change |
21.12.1993
Hypothecation agreement on stock |
|
Amount secured by the charge/amount owing on the securities of charge |
Rs.
0.500 Millions |
|
Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Stock
of Imported Thermal paper, fax roll papers, floppies etc |
|
Gist of the terms and conditions and extent and operation of the charge. |
OCC –
Rs. 0.500 Millions payable on demand ROI @ 16.58 % P. A. |
|
Name and Address and description of the person entitled to the charge. |
Canara
Bank, Thousand Lights, 5, Greams Road, Chennai – 600006 |
|
Date and brief description of instrument modifying the charge |
Common
hypothecation agreement dated 03.09.1999 Agreement
for opening of inland irrevocable letters of credit dated 03.09.1999 EMT
draft II Letter for total enhanced limits dated 03.09.1999 |
|
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. |
Existing
OCC Limit is enhanced to Rs. 4 millions Payable
on demand ROI @ 15.56 % p.a. FLC /
ILC limit of Rs. 5 Millions in enhanced to Rs. 7.5 millions 60
days usance in the event of crystallisation of liabilities ROI @ 19.38 % p.a.
Total
limits is enhanced to Rs. 12 millions |
|
Name of the company |
V I OFFICE EQUIPMENT PRIVATE LIMITED |
|
Presented By |
Canara Bank, Thousand Lights, 5, Greams
Road, Chennai – 600006 |
|
Date and description of instrument creating the change |
01.08.1997
Hypothecation agreement on Goods |
|
Amount secured by the charge/amount owing on the securities of charge |
Rs.
4.000 Millions |
|
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 Goods and Book debts |
|
Gist of the terms and conditions and extent and operation of the charge. |
Rs. 4
Millions ROI @
20.25 % each of crystallisation of liabilities |
|
Name and Address and description of the person entitled to the charge. |
Canara
Bank, Thousand Lights, 5, Greams Road, Chennai – 600006 |
|
Date and brief description of instrument modifying the charge |
18.05.1998
Hypothecation agreement of Book debts
|
|
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. |
FLC
limit of Rs. 5 Millions 60
days usance and the event of crystallisation of liability rate of interest @
20.25 % |
|
Name of the company |
V I OFFICE EQUIPMENT PRIVATE LIMITED |
|
Presented By |
Canara Bank, Thousand Lights, 5, Greams
Road, Chennai – 600006 |
|
Date and description of instrument creating the change |
02.05.1997
Hypothecation agreement of goods and book debts |
|
Amount secured by the charge/amount owing on the securities of charge |
Rs.
0.979 Millions |
|
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 goods and book debts |
|
Gist of the terms and conditions and extent and operation of the charge. |
FLC
Rs. 0.979 Millions In the
event of crystallisation of liabilities ROI @ 21.75 % |
|
Name and Address and description of the person entitled to the charge. |
Canara
Bank, Thousand Lights, 5, Greams Road, Chennai – 600006 |
|
Name of the company |
V I OFFICE EQUIPMENT PRIVATE LIMITED |
|
Presented By |
Canara Bank, Thousand Lights, 5, Greams
Road, Chennai – 600006 |
|
Date and description of instrument creating the change |
18.03.1993
Hypothecation agreement of goods and book debts |
|
Amount secured by the charge/amount owing on the securities of charge |
Rs.
1.250 Millions |
|
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 Goods and Book debts |
|
Name and Address and description of the person entitled to the charge. |
Canara
Bank, Thousand Lights, 5, Greams Road, Chennai – 600006 |
|
Name of the company |
V I OFFICE EQUIPMENT PRIVATE LIMITED |
|
Presented By |
Canara Bank, Thousand Lights, 5, Greams Road,
Chennai – 600006 |
|
Date and description of instrument creating the change |
20.07.1993
Hypothecation agreement of Machinery |
|
Amount secured by the charge/amount owing on the securities of charge |
Rs.
1.000 Millions |
|
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 Machinery slitting and rewinding machine with a value of Rs. 0.301
Millions |
|
Name and Address and description of the person entitled to the charge. |
Canara
Bank, Thousand Lights, 5, Greams Road, Chennai – 600006 |
|
Name of the company |
V I OFFICE EQUIPMENT PRIVATE LIMITED |
|
Presented By |
Canara Bank, Thousand Lights, 5, Greams
Road, Chennai – 600006 |
|
Date and description of instrument creating the change |
05.03.1997
Hypothecation agreement on Machinery |
|
Amount secured by the charge/amount owing on the securities of charge |
Rs.
2.500 Millions |
|
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 Machinery slitting and rewinding machine with a value of Rs. 0.106 Millions |
|
Name and Address and description of the person entitled to the charge. |
Canara
Bank, Thousand Lights, 5, Greams Road, Chennai – 600006 |
|
Name of the company |
V I OFFICE EQUIPMENT PRIVATE LIMITED |
|
Presented By |
Canara Bank, Thousand Lights, 5, Greams
Road, Chennai – 600006 |
|
Date and description of instrument creating the change |
21.12.1993
Hypothecation agreement on stock |
|
Amount secured by the charge/amount owing on the securities of charge |
Rs.
0.500 Millions Together
with interest, cost, charges and other expenses, debited to the account form
time to time |
|
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 whole of the stock including imported thermal paper, fax roll papers,
floppies etc, and also the book dents and receivables of the company both
present and future. |
|
Gist of the terms and conditions and extent and operation of the charge. |
ROI @
16.58 % P. A. |
|
Name and Address and description of the person entitled to the charge. |
Canara
Bank, Thousand Lights, 5, Greams Road, Chennai – 600006 |
|
Date and brief description of instrument modifying the charge |
Common
hypothecation agreement dated 03.09.1999 Agreement
for opening of inland irrevocable letters of credit dated 03.09.1999 EMT
draft II Letter for total enhanced limits dated 03.09.1999 |
|
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. |
Existing
OCC Limit is enhanced to Rs. 4 millions Payable
on demand ROI @ 15.56 % p.a. FLC /
ILC limit of Rs. 5 Millions in enhanced to Rs. 7.5 millions 60
days usance in the event of crystallisation of liabilities ROI @ 19.38 % p.a.
Total
limits is enhanced to Rs. 12 millions |
|
Name of the company |
V I OFFICE EQUIPMENT PRIVATE LIMITED |
|
Presented By |
Canara Bank, Thousand Lights, 5, Greams
Road, Chennai – 600006 |
|
Date and description of instrument creating the change |
21.12.1993
Hypothecation agreement on stock |
|
Amount secured by the charge/amount owing on the securities of charge |
Rs.
0.500 Millions Together
with interest, cost, charges and other expenses, debited to the account form
time to time |
|
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 whole of the stock including imported thermal paper, fax roll papers,
floppies etc, and also the book dents and receivables of the company both
present and future. |
|
Gist of the terms and conditions and extent and operation of the charge. |
ROI @
16.58 % P. A. |
|
Name and Address and description of the person entitled to the charge. |
Canara
Bank, Thousand Lights, 5, Greams Road, Chennai – 600006 |
|
Name of the company |
V I OFFICE EQUIPMENT PRIVATE LIMITED |
|
Presented By |
Canara Bank, Thousand Lights, 5, Greams
Road, Chennai – 600006 |
|
Date and description of instrument creating the change |
21.12.1993
Hypothecation agreement on stock |
|
Amount secured by the charge/amount owing on the securities of charge |
Rs.
0.500 Millions Together
with interest, cost, charges and other expenses, debited to the account form
time to time |
|
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 whole of the stock including imported thermal paper, fax roll papers,
floppies etc, and also the book dents and receivables of the company both
present and future. |
|
Gist of the terms and conditions and extent and operation of the charge. |
ROI @
16.58 % P. A. |
|
Name and Address and description of the person entitled to the charge. |
Canara
Bank, Thousand Lights, 5, Greams Road, Chennai – 600006 |
|
Date and brief description of instrument modifying the charge |
Supplemental
common hypothecation agreement dated 24.12.2004 |
|
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. |
On
24.12.2004 in addition to the existing limits Rs. 5.00 millions, FLC,/ ILC
limit Rs. 15 millions CDB / LCDB Limit Rs. 1 Millions total limits enhanced
from Rs. 21 Millions to Rs. 31 Millions Now
the total limits are OCC :
Rs. 5 Millions FLC /
ILC Regular : Rs. 15 Millions FLC /
ILC Rs. 10 Millions CDB /
LCDB Rs. 1.00 Millions Total
Rs. 31 Millions Existing
collateral securities will continue as security for total enhanced
limits. |
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.44.30 |
|
UK
Pound |
1 |
Rs.85.83 |
|
Euro |
1 |
Rs.57.92 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|