MIRA
INFORM REPORT
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Report Date : |
14.07.2007 |
IDENTIFICATION DETAILS
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Name : |
VIKRANT EQUIPMENTS PRIVATE LIMITED |
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Registered Office : |
Block No.3, Building No.4, Tribhuja Co-operative Housing Society
Limited, |
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Country : |
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Date of Incorporation : |
29.01.1998 |
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Com. Reg. No.: |
113295 |
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CIN No.: [Company
Identification No.] |
U28920MH1998PTC113295 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers, Fabricators, Importers of Engineering Products, Vessel
Tanks, SS / MS Life Saving Machineries and Equipments, Industrial Products,
Handicrafts, Leather Goods etc. |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Maximum Credit Limit : |
-- |
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Status : |
Poor |
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Payment Behaviour : |
Unknown |
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Litigation : |
Unknown |
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Comments : |
Though the company was started in 1998, it has not filed any
financials with the Government department so far. The company is unknown to
the consulted trade and business circles. No further details are available. The company can be considered for any business dealings on fully safe
and secured trade terms and conditions, only. |
LOCATIONS
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Registered Office : |
Block No.3, Building No.4, Tribhuja Co-operative Housing Society
Limited, |
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Factory 1 : |
Plot No.M-100/5, MIDC Additional Industrial Area, Ambad, |
DIRECTORS
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Name : |
Mr. Nishiraj B Jadhav |
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Designation : |
Director |
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Address : |
Block No.3, Building No.4, Tribhuja Co-operative Housing Society
Limited, |
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Name : |
Mrs. Varsha N Jadhav |
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Designation : |
Director |
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Address : |
Block No.3, Building No.4, Tribhuja Co-operative Housing Society
Limited, |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. Nishiraj B Jadhav |
10 |
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Mrs. Varsha N Jadhav |
10 |
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Total |
20 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Fabricators, Importers of Engineering Products, Vessel Tanks,
SS / MS Life Saving Machineries and Equipments, Industrial Products,
Handicrafts, Leather Goods etc. |
GENERAL INFORMATION
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Bankers : |
Bank of Maharashtra, Ambad
Branch, Nasik-422010, |
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Facilities : |
Mortgage of Rs.0.200 million dated 14.12.1998 on all stock of raw
materials, finished goods and all other movable assets of the company. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. Shrikant L Jajoo Chartered Accountants |
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Address : |
1A, Suyash Apartments, Plot No.224, Mahatma Nagar, Nasik-422007, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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Not Avilable |
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LOCAL AGENCY FURTHER INFORMATION
The company has not filed any Balance Sheet since incorporation.
Form 8 Particular for
creation or modification of charges
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Name of the company |
VIKRANT
EQUIPMENTS PRIVATE LIMITED |
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Presented By |
Mr. N. B. Jadhav, Director |
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1) Date and description of instrument creating the change |
Deed of hypothecation of goods and stock and book debts dated 14.12.1998 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.0.200 million |
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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 |
All that stock of raw materials/ finished goods and all other movable assets fo the company already acquired to be acquired and kept on the factory building of the company at Plot No.M-100/5, admeasuring about 92.92 Sq.Mtrs., MIDC Additional Industrial Area, Ambad, within the village limits of Ambad, Registration Sub Distriuct and all that book debts already arisen and to be arising in future out of the business of the company. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Margin : 25% in Bank’s favour. Rate of interest : 17.85% p.a. With quarterly rest ot be taken and such interest to be paid at the end of teach quarter till the entire loan interest thereon is repaid by the company. Insurance of assets : Hypothecated ad mortgaged asserts shall be fully insured and the insurance policy should e in the name of the bank. Bank’s name : Bank’s name plate should be affixed on the machineries and assets hypothecated/ mortgaged to the bank. |
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5) Name and Address and description of the person entitled to the charge. |
Bank of Maharashtra, Ambad
Branch, Nasik-422010, |
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6) Date and brief description of instrument modifying the charge |
N.A. |
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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. |
N.A. |
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.40.47 |
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1 |
Rs.82.08 |
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Euro |
1 |
Rs.55.74 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
-- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
-- |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
-- |
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--CREDIT LINES |
1~10 |
-- |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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TOTAL |
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9 |
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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