MIRA
INFORM REPORT
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Report Date : |
08.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
SONY
DISTRIBUTORS PRIVATE LIMITED |
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Registered Office : |
Opp.
Sarai Market, Jaipura Gate, Chandrapur – 442402, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
02.04.2004 |
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Com. Reg. No.: |
11-145506 |
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CIN No.: [Company
Identification No.] |
U51395MH2004PTC145506 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
NGPS06120C |
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PAN No.: [Permanent
Account No.] |
AAICS0980Q |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Dealers
and Distributors of Home Appliances. |
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
10000 |
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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 new company and is reported to be doing good business. The company has
registered satisfactory results during the first year of tits operations.
Trade relations are reported as fair. Payments are reported as 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 : |
Opp.
Sarai Market, Jaipura Gate, Chandrapur – 442402, Maharashtra, India |
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Mobile No.: |
91-9822220694 |
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E-Mail : |
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DIRECTORS
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Name : |
Mr.
Mehmood Sasuddin Samnani |
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Designation : |
Director
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Address : |
Khoja
Colony, Behind Revenue Colony, Ramnagar, Chandrapur – 442402, Maharashtra,
India |
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Date of Birth/Age : |
15.08.1960 |
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Date of Appointment : |
02.04.2004 |
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Name : |
Mr.
Samsuddin Ibrahim Samnani |
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Designation : |
Director
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Address : |
Khoja
Colony, Behind Revenue Colony, Ramnagar, Chandrapur – 442402, Maharashtra,
India |
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Date of Birth/Age : |
13.06.1964 |
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Date of Appointment : |
02.04.2004 |
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Name : |
Mr.
Jhorakhan Samsuddin Samnani |
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Designation : |
Director
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Address : |
Khoja
Colony, Behind Revenue Colony, Ramnagar, Chandrapur – 442402, Maharashtra,
India |
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Date of Birth/Age : |
18.01.1964 |
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Date of Appointment : |
02.04.2004 |
BUSINESS DETAILS
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Line of Business : |
Dealers
and Distributors of Home Appliances. |
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GENERAL
INFORMATION
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Bankers : |
The
Shikshah Sahkari Bank Limited Near
Gandhi Sagar, Mahal, Nagpur Punjab
National Bank Jatpura
Gate, Chandrapur, Maharashtra,
India |
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Banking Relations : |
-- |
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Auditors : |
Amarsingh
Rathod Chartered
Accountants Raghuvanshi
Complex, Near Azad Garden, Main Road, Chandrapur – 442401, Maharashtra, India |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
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25000 |
Equity
Shares |
Rs. 100/- each |
Rs. 2.500 Millions |
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Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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11000 |
Equity
Shares |
Rs. 100/- each |
Rs. 1.100 Millions |
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FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.100 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.987 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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2.087 |
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LOAN FUNDS |
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1] Secured Loans |
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12.128 |
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2] Unsecured Loans |
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2.766 |
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TOTAL BORROWING |
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14.894 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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16.981 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.484 |
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INVESTMENT |
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0.205 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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9.925 |
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Sundry Debtors |
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9.298 |
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Cash & Bank Balances |
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0.170 |
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Other Current Assets |
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0.180 |
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Total Current Assets |
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19.573 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.042 |
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Provisions |
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0.318 |
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Total Current Liabilities |
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3.360 |
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Net Current Assets |
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16.213 |
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MISCELLANEOUS EXPENSES |
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0.079 |
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TOTAL |
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16.981 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
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31.03.2005 |
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Sales Turnover [including other income] |
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60.374 |
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Profit/(Loss)
Before Tax |
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0.094 |
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Provision
for Taxation |
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0.007 |
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Profit/(Loss)
After Tax |
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0.087 |
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Total
Expenditure |
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60.280 |
KEY
RATIOS
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PARTICULARS |
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31.03.2005 |
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PAT / Total Income |
(%) |
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0.14 |
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Net
Profit Margin (PBT/Sales) |
(%) |
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0.16 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
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0.47 |
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Return
on Investment (ROI) (PBT/Networth) |
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0.05 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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8.75 |
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Current
Ratio (Current
Asset/Current Liability) |
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5.83 |
LOCAL AGENCY
FURTHER INFORMATION
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Name of the company |
SONY DISTRIBUTORS PRIVATE LIMITED |
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Presented By |
Mr. Mehmood Sasuddin Samnani |
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1) Date and description of instrument creating the change |
Agreement
of cash credit hypothecation dated 19.04.2005 Agreement
cash credit overdraft invisibly Agreement
for hypothecation book dents |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.
12.000 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation
of Stock, book debts and calla rally secured by the date of simple
mortgage. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Cash
credit limit up to Rs. 12.000 millions to be enfaced up to 28.03.2006, rate
of interest @ 13.5 % p.a. |
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5) Name and Address and description of the person entitled to the charge. |
The
Shikshah Sahkari Bank Limited Near
Gandhi Sagar, Mahal, Nagpur |
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6) Date and brief description of instrument modifying the charge |
-- |
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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. |
-- |
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Name of the company |
SONY DISTRIBUTORS PRIVATE LIMITED |
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Presented By |
Mr. Mehmood Sasuddin Samnani |
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1) Date and description of instrument creating the change |
Deed
of hypothecation of goods and book debts and supplementary agreement dated
19.07.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.
12.000 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation
of Stock, book debts and including stock and debts, outstanding decrease
claims, monies receivables, contracts
and investments. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Cash
credit limit up to Rs. 12.000 millions to be enfaced up to 18.07.2005 Margin 25 %
Electric Goods and items 50 %
Book debts |
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5) Name and Address and description of the person entitled to the charge. |
Punjab
National Bank Jatpura
Gate, Chandrapur, Maharashtra,
India |
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6) Date and brief description of instrument modifying the charge |
-- |
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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. |
-- |
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.44.30 |
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UK
Pound |
1 |
Rs.85.83 |
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Euro |
1 |
Rs.57.92 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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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 |
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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42 |
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 |
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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 |
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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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