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MIRA
INFORM REPORT
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Report Date : |
16.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SHAH MAHENDRAKUMAR AND COMPANY (EXPORT) PRIVATE LIMITED |
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Registered Office : |
101, New Anant Bhuvan, 257/65, |
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Country : |
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Date of Incorporation : |
16.03.1990 |
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Com. Reg. No.: |
055838 |
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CIN No.: [Company
Identification No.] |
U51320MH1990PTC055838 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS14507D MUMS42196A |
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PAN No.: [Permanent
Account No.] |
AAACS6516J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Exporter and Supplier of comprehensive range of Agro Food Consumable
Products. |
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 : |
-- |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
The Company’s estimated annual sales / exports is of Rs.
100.000/150.000 Millions with a manpower strength of 15/20 persons. Subject is well-established company having favourable reputation in
the market. Their trade relations are fair. Payments are usually correct and
as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. A may follow soon |
LOCATIONS
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Registered Office : |
101, New Anant Bhuvan, 257/65, |
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Tel. No.: |
91-22-237707505/ 23735036 |
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Fax No.: |
91-22-23738247 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Shri Hiralal Bhogilal Shah |
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Designation : |
Director |
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Name : |
Mr. Shri Mahendra BVhogilal Shah |
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Designation : |
Director |
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Name : |
Mr. Shri Rohit Bhogilal Shah |
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Designation : |
Director |
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Name : |
Mr. Shri Ajit Hiralal Shah |
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Designation : |
Director |
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Name : |
Mr. Shri Atul Hiralal Shah |
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Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Shah Bhogilal Hiralal |
99 |
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Shah Bhogilal Mahendra |
99 |
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Shah Bhogilal Rohit |
99 |
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Shah Hiralal Ajit |
99 |
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Shah Hiralal Atul |
99 |
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Shah Hiralal Surekah |
9901 |
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Shah Rohit Purnima |
9901 |
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Shah Ajit Nutan |
9901 |
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Shah Atul Jasmin |
9901 |
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Shah Ajit Rohan |
9901 |
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Total |
50000 |
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Equity Shares Breakup
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Category |
Percentage |
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Directors or relatives of Director |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Exporter and Supplier of comprehensive range of Agro Food Consumable
Products. |
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Products : |
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GENERAL INFORMATION
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Bankers : |
Punjab National
Bank, 33, Mandevi Branch, |
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Facilities : |
Credit Limit Upto Rs. 40.000 Millions |
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Banking
Relations : |
Satisfactory |
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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50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Since incorporation of the company, no financials are available.
Management assured to provide financials but they have not provided the
same, so far.
LOCAL AGENCY FURTHER INFORMATION
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Corporate identity
number of the company |
11-55838 |
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Name of the
company |
SHAH MAHENDRAKUMAR AND COMPANY (EXPORT) PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
101, New Anant Bhuvan, 257/65, |
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This form is for |
Modification of
charge |
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Type of charge |
Hypothecation |
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Particular of
charge holder |
Punjab National Bank,
33, Mandevi Branch, |
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Nature of
instrument creating charge |
PNB(222)
Agreement for POBNLC Rs. 30.000 Millions and FOBP Rs. 20.000 Millions Overall
cealling Rs. 40.000 Millions. |
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Date of instrument
Creating the charge |
29.06.2004 |
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Amount secured by
the charge |
Rs. 40.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Interest
rate 7.5% per annum charge on Stocks,
Stores and receivables etc. |
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Description of
the property charged |
Stock-in-trade,
Book Debts |
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Particulars of
the property charged |
Bills sent for
colletions, receivables, stocks and stores. |
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Name of the company |
SHAH MAHENDRAKUMAR AND COMPANY (EXPORT) PRIVATE LIMITED |
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Presented By |
Punjab National
Bank and Shah Mahendra Kumar and Company(Export) Private Limited |
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1) Date and description of instrument creating the change |
29.06.2004 PNB(222) Agreement for POBNLC Rs. 30.000 Millions and FOBP
Rs. 20.000 Millions Overall cealling
Rs. 40.000 Millions. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 40.000
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 |
Charge on foreign
Bills Receivables, purchase/ negotiated under FOBNLC, FABC, bills sent for
collections etc including stock, stores as detailed and described in the said
agreement. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest rate
7.5% p.a. as detailed and described in the said agreement |
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5) Name and Address and description of the person entitled to the charge. |
Punjab National
Bank, 33, Mandevi Branch, |
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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. |
COMPANY Profile
Subject is a renowned name engaged in export
and supply of a comprehensive range of agro food consumable products. Their
range of items include fresh onions, garlic, vegetables, fruits, agro products,
pulses and cooking spices. A Government recognized export house, they have
carved a niche in the market for their quality products and world-class
services.
They have an experience of over four decades in the business and have earned a
pioneering status in the Indian market. The company is in an ideal position to
source and supply a wide range of agricultural produce from
Achievements
The company has several firsts to its credit, some of which include :
- First company to Grade Onion
Mechanically.
- First company Export Onion to
- First company Export Onion to
- Mr. Ajit H Shah "is vice president
of National Horticultural Research & Development Foundation" (
NHRDF ) NHRDF is No.1 Research body for ONION and GARLIC in
Their Team
One of their major assets is their highly
experienced and qualified work force that understands the market demands and
consumer requirements. The team works under the able guidance of their
directors Mr. Ajit H. Shah & Mr. Hiralal B. Shah.
Mr. Ajit H. Shah has an experience of 25 years in the indtheytry and is
responsible for all operations of company. Mr. Shah is vice president of
National Horticultural Research & Development Foundation (NHRDF), which is
number one research body for onion and garlic in
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Infrastructure
They, at Shah Mahendra Kumar & Co., possess sophisticated infrastructural facilities
that include excellent storage facilities for stocking the various kinds of
agricultural products. Stocking becomes all the more important in the context
of seasonal and perishable nature of agricultural produce.
They have advance packing facilities one at
Industry Memberships
Recognizing their efforts towards quality
products and effective client service, they have been awarded with prestigious
membership of several industrial boards and organizations. Some of these
include:
- Indian Oil Seeds & Produce
Exporters Association (IOPEA)
- Spice Board
- Agricultural Processed Food Products
Exports Development Authority(APEDA)
- National Agricultural Co-Operative
Marketing Federation of India Ltd (NAFED)
- Spices Federation Exporters Association
(SFEA)
- National Horticultural Research &
Development Foundation (NHRDF)
- Spices Trading Co - Operation Ltd
(STCL)
Ever since inception, their motto has been
to offer their customers fresh and superior quality food and agro products. To
ensure this, they procure their products from reliable and quality conscious
suppliers. They purchase onions from all over
Moreover, They take special care in the proper processing and packaging. All
the different stages of procurement, processing and supply are stringently
monitored by a team of quality control experts. Samples of their products are
obtained and subjected to rigorous tests to ascertain their quality. Only
products that conform to all established parameters of quality are finally
packaged and dispatched to clients.
Packaging
They understand the importance of packaging and take all efforts in ensuring
superior packaging to protect the products from spoilage during transit and
delivery. They posses advance packaging machines and take conscious efforts to
preserve the freshness, nutritional content and taste of their food products.
Their attractive packing starts from 2.5 kg to 55 kg in jute, leno & mesh
bags. They are capable to customize their packaging to meet buyers
requirements. They offer these products under the brand name PARROT in
Why They?
Some of their specialties that make they a
profitable business partner for their clients are:
- Long experience and extensive knowledge
of industry
- They supply fresh, pure and toxic-free
agro food products
- Processing and packing done in completely
hygienic conditions
- They take extra care in packing to
preserve freshness, nutritional value and taste
- Proven record of timely supplies
- They offer their products at most
reasonable prices
- They work with a customer focused
approach
Clientčle
Their superior quality products have found accolades from their clients the
world across. The company takes pride in its strategic partnerships with its
clients and takes every care in ensuring their satisfaction. Whether big or
small, they respect all their clients and their quality and level of service
always remains the same. Most of their clients are satisfied from their
services and as a result of which they are getting repeat orders.
Major share of their supplies include exports to
Fresh Fruits
They are a
renowned fresh fruits exporters. They offer an unbelievably large range indian
seasonal fruits like mango, banana, guava, apple, grapes, pine apple and many
more. Indian fruits are very popular in the international market. They only
trade in the best breed and supply them in the shortest possible time keeping
the freshness intact. All fruit categories are tested for quality and each of
the items contains a check mark.
Their seasonal fruits can also be used for preparing confectioneries, jam and
jelly production and for other processing requirements. Quality packaging is
done to preserve the freshness and rich aroma of the fruits. They trade fruits
in different packaging and offer safe shipping facilities. ( World Best
Alphanso Mango is from
Other Than Mango They Can Export :
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Water Melon |
Sweet Melon |
Fresh Pomegranate |
Quality, taste and benefits to health are
the most important areas under which they trade their agricultural products.
They are committed to maintain a consistent and strong relationship with their
esteemed clients. The agro-products that they supply are tested in their
special laboratories for pesticides, adulteration and nutrient content. Only
after a positive result, they make them available for packaging. period.
Soyabean, Wheat, Gram, Udad, Mustered, Jwar,
Maize, Yellow Maize (Sweet Corn), Wheat, Mansoori Rice, Food Grains, Pulses and
different types of agricultural commodities are available in different size
packing. They export these high nutrient valued agro products at reasonable
price in different size packets as per client's need.
Cooking pulses
(dal) are a major source of protein and easy to prepare. They trade in pure
pulse adhering to the global quality standards. They are tested for freshness
and adulteration at their end. They provide multiple packaging options from
500gm packets to 50kgs sacks as required by clients.
There is no
comparison to the Indian spices. They possess rich aroma and an excellent
addition to food for taste. They are also popular as appetizers. Freshly picked
spices are brought to their processing unit. They dehydrate them and supply as
whole spices or in powdered form. For both the forms, packaging is done in
order to preserve the freshness and taste. In addition to their standardized
packaging, they can also provide customized packaging for all their spices. (
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Red Spilt Lentils |
Chick Peas |
Chana Dal |
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Urad Dal |
Cumin Seeds |
Fennel Seeds |
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Fenugreek Seeds |
Turmeric |
Red Chillies Whole & Powder |
Fresh Onions
Kharif harvesting start in Nov to Jan &
Rabi harvesting start in Jan to May
Rabi quality self life is more and they keep
the variety for six month in ventilated Godown .Indian Onion can export round
the year.
Onion is one of most widely consumed agro products around the world. They keep
this fact in mind and supply fresh onions in the global market. The fresh
onions are brought to they from the field. Roots and skins are removed by
manual operation and papery husk is peeled off. Then these onions are cleaned
in fresh water and put to dehydration.
The onions produced are dehydrated using a
continuous-conveyor drying system. They trade in whole onions as well as in
sliced onions. Each stage is carefully controlled to remove the optimum amount
of moisture without damaging the onion's pure flavor. They are then packed in
consumer or bulk packing, depending on the need of the client.
Indian Garlic is for their pungency. They
Export up to 50 mm Garlic as per buyer requirement.
Garlic is considered as one of the most beneficial agro-product. Indian breed
garlic is preferred over others specially for its taste and benefits. They
export Indian garlic for global consumption with guaranteed freshness. Garlic
is procured from farms- specially grown, hand harvested free from damage, soil
cuts and infection. They check the garlics for quality and then make them
suitable for trade.
They dehydrate and process garlics keeping the taste and nutrient content
intact. Dehydrated garlics and garlic clove are peeled, cut to size or
pulverize tested and finally packed.
They make use of
advanced Technologies to keep vegetables fresh. They have also devised packing
methods to preserve the freshness of the vegetables as long as possible. They
trade in a wide range of vegetable products that are ready to eat. With no
additives and no Health Hazards, they make sure that the vegetables are stored
fresh with no loss of nutrients, flavor, colors, texture and shape. Fully
automated system is used for the packing line to keep their products untouched
by hands. They are packed in various quantities as per the client's
specification. All their vegetable products can be consumed fresh as salads or
can be cooked with ease.
They can export
Following Vegetable :
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Fresh Beans |
Tomato |
Carrot |
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Full |
Patta Gobi |
Green Chilies |
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And other Indian Vegetable |
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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.40.76 |
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1 |
Rs.80.67 |
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Euro |
1 |
Rs.54.58 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
YES |
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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 |
NO |
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TOTAL |
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54 |
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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