MIRA INFORM REPORT
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Report Date : |
20th
January, 2007 |
IDENTIFICATION DETAILS
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Name : |
PERIPHERAL
SOLUTIONS PRIVATE LIMITED |
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Registered Office : |
301-303,
Shivam Complex, 20, Veer Savarkar Block, Shakarpur, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
13.03.1995 |
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Com. Reg. No.: |
55-66265 |
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CIN No.: [Company
Identification No.] |
U74899DL1995PTC066265 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELP09348D |
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PAN No.: [Permanent
Account No.] |
AAACP4953A |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
To
carry on the business long term and short term maintenance of computer
systems and associated equipment, replacement and services of computers, computers
peripherals, related electrical equipment and item in India and abroad. To
carry on the business of sale, purchase, assemble, import, export, stockist,
distributors, designers, agents, traders, exchangers and jobbers in all kinds
of computers, computer software development, conversion, data entry, software
implementations, systems study, software documentations, and related
components, computer systems, computer peripherals, integrated circuits,
process controllers, computers printers, transformers, monitors,
uninterrupted power supply systems, computer components, computers based
systems, computer aid design, computer aided manufacture, telecommunication
related hardware and software, net working of local are and wide area, data
communication for hardware and software’s, computerised medical systems,
bioelectrical equipments. |
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
15000 |
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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 dealers of computers peripherals. Directors are
reported as experienced and respectable businessmen. Trade relations are
fair. Business is active. Payment 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 : |
301-303,
Shivam Complex, 20, Veer Savarkar Block, Shakarpur, |
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Tel. No.: |
91-11-22519088/
22420141 |
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Mobile No.: |
91-9811032836 |
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E-Mail : |
DIRECTORS
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Name : |
Mr.
Taposh Chatterjee |
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Designation : |
Whole
Time Director |
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Address : |
G-1300,
1st Floor, |
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Date of Birth/Age : |
13.08.1965 |
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Date of Appointment : |
13.03.1995 |
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Name : |
Mr.
Pawan Waleacha |
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Designation : |
Whole
Time Director |
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Address : |
160A,
Pocket – I, Mayur Vihar, Phase-I, |
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Date of Birth/Age : |
16.09.1967 |
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Date of Appointment : |
13.03.1995 |
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Name : |
Ms.
Bharati Waleacha |
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Designation : |
Whole
Time Director |
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Address : |
160A,
Pocket – I, Mayur Vihar, Phase-I, |
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Date of Birth/Age : |
07.05.1973 |
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Date of Appointment : |
01.12.2000 |
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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.
Taposh Chatterjee |
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65800 |
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Mr.
Pawan Waleacha |
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79000 |
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Mr. M
K Chatterjee |
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10900 |
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Ms.
Preeti Juneja |
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1700 |
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Ms.
Geeta Trehan |
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800 |
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Ms.
Bharati Waleacha |
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1800 |
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Mr.
Prem Kumar Waleacha |
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20000 |
BUSINESS DETAILS
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Line of Business : |
To
carry on the business long term and short term maintenance of computer
systems and associated equipment, replacement and services of computers,
computers peripherals, related electrical equipment and item in India and
abroad. To
carry on the business of sale, purchase, assemble, import, export, stockist,
distributors, designers, agents, traders, exchangers and jobbers in all kinds
of computers, computer software development, conversion, data entry, software
implementations, systems study, software documentations, and related
components, computer systems, computer peripherals, integrated circuits, process
controllers, computers printers, transformers, monitors, uninterrupted power
supply systems, computer components, computers based systems, computer aid
design, computer aided manufacture, telecommunication related hardware and
software, net working of local are and wide area, data communication for
hardware and software’s, computerised medical systems, bioelectrical
equipments. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
-- |
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Bankers : |
Bank
of |
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Banking Relations : |
Satisfactory
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Auditors : |
Tiwari
and Associates Chartered
Accountants |
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Address : |
1st
Floor, Sewak Bhawan, 16/2 WEA , bdul |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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200000 |
Equity
Shares |
Rs. 10/- |
Rs. 2.000 millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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180000 |
Equity
Shares |
Rs. 10/- |
Rs. 1.800 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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1.800 |
1.000 |
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2] Reserves & Surplus |
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2.130 |
1.622 |
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NETWORTH |
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3.930 |
2.622 |
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LOAN FUNDS |
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1] Secured Loans |
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2.528 |
0.105 |
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2] Unsecured Loans |
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0.764 |
1.594 |
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TOTAL BORROWING |
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3.292 |
1.699 |
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DEFERRED TAX LIABILITIES |
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0.026 |
0.000 |
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TOTAL |
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7.248 |
4.321 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.011 |
0.695 |
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Capital work-in-progress |
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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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13.035 |
7.182 |
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Sundry Debtors |
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14.359 |
11.844 |
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Cash & Bank Balances |
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0.111 |
0.049 |
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Other Current Assets |
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0.972 |
0.058 |
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Loans & Advances |
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0.205 |
0.205 |
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Total Current Assets |
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28.682 |
19.338 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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22.437 |
15.696 |
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Provisions |
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0.027 |
0.016 |
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Total Current Liabilities |
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22.464 |
15.712 |
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Net Current Assets |
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6.218 |
3.626 |
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MISCELLANEOUS EXPENSES |
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0.019 |
0.000 |
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TOTAL |
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7.248 |
4.321 |
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KEY
RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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7.56 |
7.64 |
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Current
Ratio (Current
Asset/Current Liability) |
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1.27 |
1.23 |
LOCAL AGENCY FURTHER INFORMATION
Bankers
Charges Report as per Registry
Name of the Company : Peripherals Solutions
Private Limited
Presented by : -- Bank of
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1.
Date and description of the instrument creating
or evidencing the charge |
21.12.2001
– Registered on 10.01.2002 |
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2.
Amount secured by the charge /amount owing on security of the charge |
Rs.
0.800 millions |
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3.
Short Particular of the property charged. If the property acquired is subject to
change date of acquisition of property should be given
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Hypothecation
and charge to the bank by way of charge all the book debts, outstanding
monies, receivables, claims and bills which are now due and owing or which may
at any time hereafter during the continuance of the security become due and
owing to the borrower in the course of its business by any person, company or
by the Government or any local or public body or authority. |
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4.
Gist of the terms and conditions and extent and operation of the charge. |
The
interest on cash credit (hypothecation of book debts) limit of Rs. 0.800
millions shall be charge at the rate of 4% over BOI PLR subject to a minimum
of 16% p.a. with quarterly rests or at such other rate as may be specified by
the bank fro time to time. Margin:
40% Payable
: on demand |
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5.
Names, address and description of the persons entitled to charge |
Bank
of |
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6.
Date and brief description of instrument modifying the charge |
28.11.2005 Supplemental
agreement of hypothecation of book debts Previously
modified on 20.12.2001, 1.05.2002, 11.12.2003 and finally against modified on
11.12.2003 to enhance the limit from Rs. 0.800 millions to Rs. 2.000 millions
and for change in terms and conditions and modified registration 31.12.2003 |
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7.
Particular of modification specifying the terms and conditions or the extent
or operation of the charge in which modification is made and the details of modification |
The
cash credit (hypothecation of book debts) limit stands enhanced from Rs.
2.000 millions to Rs. 3.500 millions. The
rate of interest shall now be charged at the rate of 3.25% p.a. over BOI BPLR
subject to a minimum of 14 % p.a. Other
terms and conditions remained the same. |
Bankers
Charges Report as per Registry
Name of the Company : Peripherals Solutions
Private Limited
Presented by : -- Bank of
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1.
Date and description of the instrument creating
or evidencing the charge |
21.12.2001
– Registered on 10.01.2002 agreement |
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2.
Amount secured by the charge /amount owing on security of the charge |
Rs.
0.800 millions |
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3.
Short Particular of the property charged. If the
property acquired is subject to change date of acquisition of property should be given
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Hypothecation
and charge to the bank by way of charge all the book debts, outstanding
monies, receivables, claims and bills which are now due and owing or which
may at any time hereafter during the continuance of the security become due
and owing to the borrower in the course of its business by any person,
company or by the Government or any local or public body or authority. |
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4.
Gist of the terms and conditions and extent and operation of the charge. |
The
interest on cash credit (hypothecation of book debts) limit of Rs. 0.800
millions shall be charge at the rate of 4% over BOI PLR subject to a minimum
of 16% p.a. with quarterly rests or at such other rate as may be specified by
the bank fro time to time. Margin:
40% Payable
: on demand |
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5.
Names, address and description of the persons entitled to charge |
Bank
of |
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6.
Date and brief description of instrument modifying the charge |
28.11.2005 Supplemental
agreement of hypothecation of book debts Previously
modified on 20.12.2001, 1.05.2002, 11.12.2003 and finally against modified on
11.12.2003 to enhance the limit from Rs. 0.800 millions to Rs. 2.000 millions
and for change in terms and conditions and modified registration 31.12.2003 |
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7.
Particular of modification specifying the terms and conditions or the extent
or operation of the charge in which modification is made and the details of modification |
The
enhanced cash credit (hypothecation of book debts) limit of Rs. Rs. 3.500
millions shall also be collaterally secured by hypothecation of all tangible
movable property including in particular stock of Monitors, Printers, Hard
Discs, Floppy Drive, Mother Boards, CD Rom Drives Key Boards, CPU, etc.
whether now lying or at any time hereinafter during the continuance of this
security lying or being in or about the borrower’s premises including those
in transit. Other
terms and conditions remained the same. |
CMT REPORT [Corruption, Money laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts,
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.44.21 |
|
|
1 |
Rs.87.30 |
|
Euro |
1 |
Rs.57.34 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
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 |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
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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