MIRA
INFORM REPORT
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Report Date : |
19.07.2007 |
IDENTIFICATION DETAILS
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Name : |
CHULIWAL CONTAINERS PRIVATE LIMITED |
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Registered Office : |
Plot No. 3, Khasra No. 957, Village Kirar Nangloi, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
25.09.1997 |
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Com. Reg. No.: |
55-89861 |
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CIN No.: [Company
Identification No.] |
U74899DL1997PTC089861 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELC05047A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Cosmetic and Pharmaceutical Containers, Jars, Bottles,
Flip Top Caps and Containers |
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 |
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Status : |
Small Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company having satisfactory track.
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. The company has some accumulated losses, but it is expected to
wipe-off soon. |
LOCATIONS
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Registered Office : |
Plot No. 3, Khasra No. 957, Village Kirar Nangloi, New |
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E-Mail : |
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Corporate Office : |
609, B-90, |
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Tel. No.: |
91-11-39254156 / 27915139 / 47002120 / 30954156 |
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Fax No.: |
91-11-27915139 / 47002120 |
DIRECTORS
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Name : |
Mr. Manish Saini |
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Designation : |
Director |
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Address : |
D-100, Deepali, Pritampura, |
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Date of Birth/Age : |
29.08.1976 |
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Date of Appointment : |
25.09.1997 |
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Name : |
Mr. Shyam Saini |
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Designation : |
Director |
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Address : |
D-100, Deepali, Pritampura, |
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Date of Birth/Age : |
28.02.1975 |
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Date of Appointment : |
25.09.1997 |
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Name : |
Mr. Dinesh Saini |
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Designation : |
Director |
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Address : |
D-100, Deepali, Pritampura, |
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Date of Birth/Age : |
27.02.1974 |
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Date of Appointment : |
25.09.1997 |
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Name : |
Mr. Mewa Ram Saini |
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Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Manish Saini |
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9010 |
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Mr. Shyam Saini |
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5010 |
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Mr. Mewaram Saini |
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10010 |
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Mr. Dinesh Saini |
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5010 |
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Mr. Prem Chand Saini |
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8500 |
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Mrs. Archana Saini |
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8350 |
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Mrs. Kiran Saini |
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3850 |
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Mrs. Seema Saini |
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100 |
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Mr. Darshan Saini |
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100 |
Equity shares breakup (percentage of total equity)
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S. No. |
Category |
Percentage |
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1 |
Directors of relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Cosmetic and Pharmaceutical Containers, Jars, Bottles,
Flip Top Caps and Containers |
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Products : |
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Exports : |
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Countries : |
Worldwide |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
6 |
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Bankers : |
Corporation Bank, Nangloi Branch, |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Babulal Gupta and Company Chartered Accountants |
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Address : |
3 / 408, Navjivan Society, |
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 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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49940 |
Equity shares |
Rs. 10/- each |
Rs. 0.499 million |
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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0.499 |
0.499 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
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(0.194) |
(0.483) |
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NETWORTH |
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0.305 |
0.016 |
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LOAN FUNDS |
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1] Secured Loans |
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0.776 |
0.805 |
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2] Unsecured Loans |
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1.476 |
1.168 |
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TOTAL BORROWING |
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2.252 |
1.973 |
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DEFERRED TAX LIABILITIES |
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0.737 |
0.706 |
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TOTAL |
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3.294 |
2.695 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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3.650 |
3.498 |
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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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0.256 |
0.315 |
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Sundry Debtors |
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0.760 |
0.780 |
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Cash & Bank Balances |
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0.034 |
0.031 |
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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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0.243 |
0.218 |
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Total
Current Assets |
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1.293 |
1.344 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.577 |
2.129 |
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Provisions |
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0.072 |
0.018 |
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Total
Current Liabilities |
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1.649 |
2.147 |
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Net Current Assets |
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(0.356) |
(0.803) |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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3.294 |
2.695 |
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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 (Estimated) |
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3.000 |
2.500 |
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Other Income |
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Total Income |
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3.000 |
2.500 |
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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12.79 |
257.5 |
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Current Ratio (Current Asset/Current Liability) |
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0.78 |
0.62 |
LOCAL AGENCY FURTHER INFORMATION
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Name of the company |
CHULIWAL
CONTAINERS PRIVATE LIMITED |
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Presented By |
Mr.
Dinesh Saini, Director |
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1) Date and description of instrument creating the change |
28.01.2005
(All the agreement treated as single charge) |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.640 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 |
Hypothecation of Machinery, Furniture’s and Fixtures etc. held at Chuliwal Containers Private Limited, Plot No. 4, Kirari Nangloi, Delhi 100 041 and others places from time to time. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest 11.50% p. a. being over and above 1% of P L R which is at present 10.50% Repayments in 48 monthly installment of Rs. 0.017 million each Margin 25% |
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5) Name and Address and description of the person entitled to the charge. |
Corporation
Bank, Nangloi Branch, |
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6) Date and brief description of instrument modifying the charge |
NA |
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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. |
NA |
Company Profile:
Subject is a leading
manufacturer and exporter of Cosmetic
& Pharmaceutical containers, Jars, Bottles and Flip Flop Caps. Since
their inception in 1997, they have come a long way to rank at top in the
market. Their renowned customers add to their accomplishments of quality
products with innovative designs according to the requirements. Their export
market is spread worldwide catering to pharmaceutical,
health care, health and beauty aids, and chemical and food industries.
Their Products
They are a full service plastic packaging supplier with technical expertise in
all disciplines of container moulding processes. Their cost effective products
are delivered to the pharmaceutical, health care, health and beauty aids, and
chemical and food industries fulfilling their requirements of:
They offer over 250 moulds with no limit to the variety and design. A
wide collection of materials, neck finishes, fancy caps and colors are
available to meet all customers' needs.
Their Quality
They use the best quality Plastic granules & Plastic master batches as a
raw material in their products. Their company operates with the motto of Quality
With Quantity. Their customers rely on them for the quality innovation,
professionalism, and customer service and product selection. They are dedicated
to the concept of customer satisfaction and perfect quality. The containers, Jars, Bottles and Flip Flop Cap
manufactured by their team of concerned, responsible and dedicated
professionals boast of subject as unique and reliable company.
Their Infrastructure
Their state-of-the-art facility offers utmost R&D and design capabilities along
with full customer services and sampling of their plastic bottles and
containers. They procure raw materials directly from the manufacturers
providing best quality materials and precise quality standards. Their fully
mechanized system scrutinizes the products bringing forth the imperative
innovations and improvements. The Cosmetic
& Pharmaceutical containers, Jars, Bottles and Flip Flop Caps
manufactured and exported by them are a qualitative products appreciated by
their valued customers.
They at subject, offer the best quality at reasonable prices. Their
variety of designer products caters to the needs of one and all, thus realizing
their motto of customer satisfaction.
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.40.30 |
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1 |
Rs.82.93 |
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Euro |
1 |
Rs.55.75 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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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 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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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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26 |
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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