MIRA
INFORM REPORT
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Report Date : |
03.07.2007 |
IDENTIFICATION DETAILS
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Name : |
DURON POLYVINYLS PRIVATE LIMITED |
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Registered Office : |
1089 / 25-28, Shiv Motor Market, Kashmere Gate, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
31.03.1997 |
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Com. Reg. No.: |
55-133946 |
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CIN No.: [Company
Identification No.] |
U25209DL2005PTC133946 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELD08935D |
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PAN No.: [Permanent
Account No.] |
AACCD1507A |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
The company is engaged in the manufacture and export of PVC
products. |
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 : |
USD 3732 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is relatively small company having satisfactory track records.
Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are however
reported as usually correct and as per commitments. The company can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
1089 / 25-28, Shiv Motor Market, Kashmere Gate, |
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E-Mail : |
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Corporate Office : |
Near Chungi, |
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Tel. No.: |
91-124-2469780,
3295483 |
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Mobile No.: |
91-9910174583 |
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Fax No.: |
91-124-2468045 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Jasvinder
Singh Bhatia |
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Designation : |
Director |
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Address : |
237, |
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Date of Appointment : |
15.03.2005 |
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Name : |
Mr. Nishank
Tandon |
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Designation : |
Director |
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Address : |
AG-1/112-C, Vikas
Puri, |
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Date of Appointment : |
15.03.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of
Shareholders |
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No. of Shares |
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Mr. Jasvinder
Singh Bhatia |
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5000 |
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Mr. Nishank
Tandon |
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5000 |
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Total
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10000 |
Equity share breakup ( percentage of total equity)
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S. No. |
Category |
Percentage |
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1 |
Directors or relavtives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The company is engaged in the manufacture and export of PVC products. |
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Products : |
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Exports : |
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Countries : |
Worldwide |
GENERAL INFORMATION
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Customers : |
·
·
Nuclear Power Corporation ·
N.T.P.C. ·
N.H.P.C. ·
Sparetex ( ·
Spin Air Systems Private Limited ·
SKB Systems ·
FR Systems ·
North Streets Cooling Towers Private Limited ·
Hamon Thermopack Engineers Private Limited ·
ABC Coimbatore Private Limited ·
·
L&T Limited ·
Simplex Concrete Piles India Limited ·
AFCORN Infrastructure Private Limited |
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No. of Employees : |
50 |
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Bankers : |
Indian Bank 1376, |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M /s Praveen Hans and Company Chartered Accountants |
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Address : |
Room No. 204, 4855-56/24, |
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Tel No.: |
91-11-23268622 |
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Memberships : |
Participating in Plast |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.100
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.750 |
0.000 |
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3] Reserves & Surplus |
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0.083 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
(0.004) |
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NETWORTH |
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0.933 |
0.096 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.938 |
0.000 |
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TOTAL BORROWING |
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0.938 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.028 |
0.000 |
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TOTAL |
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1.899 |
0.096 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.745 |
0.000 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.243 |
0.000 |
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Sundry Debtors |
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3.306 |
0.000 |
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Cash & Bank Balances |
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0.374 |
0.064 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.010 |
0.000 |
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Total
Current Assets |
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3.933
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0.064 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.792 |
0.000 |
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Provisions |
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0.015 |
0.004 |
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Total
Current Liabilities |
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3.807
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0.004 |
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Net Current Assets |
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0.125
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0.061 |
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MISCELLANEOUS EXPENSES |
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0.029 |
0.035 |
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TOTAL |
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1.899 |
0.096 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover(including Other Income) |
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9.273 |
N.A. |
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Profit/(Loss) Before Tax |
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0.130 |
N.A. |
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Provision for Taxation |
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0.000 |
N.A. |
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Profit/(Loss) After Tax |
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0.130 |
N.A. |
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Total Expenditure |
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9.143 |
N.A. |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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1.40 |
N.A. |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.40 |
N.A. |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.29 |
N.A. |
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Return on Investment (ROI) (PBT/Networth) |
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0.14 |
N.A. |
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Debt Equity Ratio (Total Liability/Networth) |
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5.08
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0.04 |
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Current Ratio (Current Asset/Current Liability) |
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1.03
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16 |
LOCAL AGENCY FURTHER INFORMATION
BUSIENESS
To carry on in India
or elsewhere the business to manufacture, alter, brand, convert, clean prepare,
packers, repackers, grade, import, export buy, sales, resale and to act s
agent, suppliers, providers, collaborator, consignor, consultants, stockist,
distributor, trader C and F agent, concessionaries, job work and remodel,
supply, representatives, including manufacturing and trading of all kinds of
PVC, resin, rubber, polythene, PVC panel, cooling towers, water stop carnal
lining, mist eliminators, sheets, films whether rigid, semi rigid, semi rigid,
flexible and profit, laminations plastic, plastic scrap, HDPE, polymers,
co-polymers, co-polymers, monomers,
elastomers, resins, cotton coated PVC polyesters and other allied materials
with or without combinations of other ferrous or non ferrous materials.
No further business
details could be available.
AS PER WEBSITE
Subject
is engaged in the manufacture and export of PVC products.
Their complete range of products includes PVC, PVC Doors & Profiles, PVC Fills, PVC
Mist Eliminators, PVC Tube Settler (PVC Media), Cooling Tower Components,.
Vast knowledge and thorough understanding of the field is their specialty and
they are known for effective product quality. Every product manufactured in
their premises has its own identical features and within a very short duration
they have created a special place for their selves both in national and
international market. They are in the production of PVC Components so they are
ready to develop any item in PVC which is commercially viable.
Their products have huge demand in construction sector & household
consumption. They also develop commercially viable Plastic Products.
Infrastructural Facilities
They have a well built set up. Latest machineries and in-house laboratory
having standardized testing equipments are the strong aspects of their company.
Every equipment is of world class status. With the help of expert professionals
and technicians they are successfully meeting the demands of market.
Main Features
There are various reasons why their range of PVC, PVC Doors & Profiles, PVC Fills, PVC
Mist Eliminators, PVC Tube Settler(PVC Media), are preferred in the
market. Some of them can be listed as :
- Economical
- No Maintenance
- Fire Resistant
- Light Weight
- No Wastage
- Reasonable Rates
- State-of-the-art Facilities
- Punctual Delivery Schedules
PVC, PVC Doors & Profiles, PVC Fills, PVC Mist
Eliminators, PVC Tube Settler (PVC Media). Cooling Tower components,
Humidification Equipments, PVC Canal Lining and Waste water treatment
components.
Goal
They have four commercial goals :
- Total customer satisfaction
- Authentic product quality
- Controlled cost of production
- Timely work execution
The company’s aim is to become the largest
manufacturer of PVC products in
Note:
The registered office of the company is saturated at 1089 / 25-28, Shiv
Motor Market, Kashmere Gate,
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Corporate
identity number (CIN) Foreign company registration number |
U25209DL2005PTC133946 |
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Name of the
Company |
Duron Polyvinyls Private Limited |
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Address |
1089 / 25-28, Shiv Motor Market, Kashmere Gate, |
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This form is for |
Creation of
charge |
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Type of Charge |
Book debts, stock
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Particulars of
the charge holder |
Indian Bank 1376, |
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Amount secured by
the charge |
Rs. 1.000 million
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Brief of the
principal terms and conditions |
a) Rate of Interest BPLR + 2%
presently 14.5% b) Terms of Repayment As per copy of
agreement enclosed c) Margin 25% d) Extent and operation of the charge As per copy of
agreement enclosed |
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Description of
the property charged indicating |
Charge on goods,
produce, merchandise and stodk stored or to be stored from time to time in
premises at Near Chungi, |
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Nature or description
of the instrument(s) creating or modifying the charge (copy to be attached) |
Hypothecation
agreement dated 17.03.2007 |
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 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.66 |
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1 |
Rs.81.70 |
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Euro |
1 |
Rs.55.05 |
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 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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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 |
YES |
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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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29 |
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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