MIRA
INFORM REPORT
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Report Date : |
27.06.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
B- 205, Derawal Nagar, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
02.09.2002 |
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Com. Reg. No.: |
55-116783 |
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CIN No.: [Company
Identification No.] |
U15549DL2002PTC116783 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS17447D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Exporters of Roasted Dry Fruits & Nuts, Health
Bar, Extruded Products, Prunes and Namkeens. |
RATING & COMMENTS
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MIRAs 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 40000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a small company having moderate track. Payments
are reported as slow and delayed. The company can be considered for small business dealings
at usual trade terms and conditions, with slight caution initially. |
LOCATIONS
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Registered Office : |
B- 205, Derawal Nagar, |
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Tel. No.: |
91-11-27128787 / 88 / 52445294 |
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Mobile No.: |
91-9810046128 / 9810115858 |
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Fax No.: |
91-11-27118787 |
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E-Mail : |
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Website : |
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Area : |
1500 sq. fts. [Residential area Owned] |
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Corporate Office : |
G. F. 1, |
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Factory 1 : |
K 6, Udyog Industrial Area, [Near Peeragarthi Chowk], |
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Tel. No.: |
91-11-25964800 / 900 |
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Fax No.: |
91-11-25964100 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Kishan Chand Nagpal |
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Designation : |
Director |
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Address : |
H 5/5, |
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Date of Birth/Age : |
31.12.1943 |
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Date of Appointment : |
02.01.2002 |
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Date of Ceasing : |
22.04.2005 |
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Name : |
Mr. Vijay Nagpal |
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Designation : |
Director |
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Address : |
H 5/5, |
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Date of Birth/Age : |
01.08.1955 |
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Date of Appointment : |
02.09.2002 |
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Name : |
Mr. Sudesh Nagpal |
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Designation : |
Director |
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Address : |
H 5/5, |
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Date of Birth/Age : |
05.01.1948 |
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Date of Appointment : |
02.09.2002 |
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Date of Ceasing : |
22.04.2005 |
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Name : |
Ms. Lalita Nagpal |
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Designation : |
Director |
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Address : |
H 5/5, |
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Date of Birth/Age : |
01.05.1958 |
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Date of Appointment : |
02.09.2002 |
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Name : |
Mr. Rajeev Nagpal |
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Designation : |
Director |
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Address : |
H 5/5, |
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Date of Birth/Age : |
14.05.1964 |
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Date of Appointment : |
25.10.2002 |
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Date of Ceasing : |
22.04.2005 |
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Name : |
Mr. Aman Nagpal |
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Designation : |
Director |
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Address : |
H 5/5, |
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Date of Birth/Age : |
22.07.1983 |
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Date of Appointment : |
06.06.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Kishan Chand Nagpal |
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186250 |
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Vijay Nagpal |
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1111250 |
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Suresh Nagpal |
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11250 |
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Lalita Nagpal |
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186250 |
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Rajeev Nagpal |
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5000 |
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Total |
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1500000 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors of relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Roasted Dry Fruits & Nuts, Health
Bar, Extruded Products, Prunes and Namkeens. |
GENERAL INFORMATION
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No. of Employees : |
20 |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M. S. Sekhon and Company Chartered Accountants |
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Address : |
170 Madhuvan, |
CAPITAL STRUCTURE
AS ON 30.09.2006
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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4000000 |
Equity Shares |
Rs. 10/- each |
Rs. 40.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs. 10/- each |
Rs. 15.000 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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15.000 |
15.000 |
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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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[4.058] |
[8.121] |
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NETWORTH |
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10.942 |
6.879 |
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LOAN FUNDS |
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1] Secured Loans |
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3.307 |
3.974 |
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2] Unsecured Loans |
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29.159 |
16.247 |
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TOTAL BORROWING |
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32.466 |
20.221 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.770 |
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TOTAL |
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43.408 |
27.870 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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16.770 |
13.123 |
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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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2.198 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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17.239 |
12.815 |
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Sundry Debtors |
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5.096 |
3.241 |
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Cash & Bank Balances |
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1.224 |
1.054 |
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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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4.025 |
1.709 |
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Total
Current Assets |
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27.584 |
18.819 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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4.086 |
5.485 |
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Provisions |
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0.116 |
0.000 |
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Total
Current Liabilities |
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4.202 |
5.485 |
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Net Current Assets |
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23.382 |
13.334 |
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MISCELLANEOUS EXPENSES |
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1.058 |
1.413 |
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TOTAL |
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43.408 |
27.870 |
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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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40.000 |
30.000 |
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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3.35 |
3.74 |
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Current Ratio (Current Asset/Current Liability) |
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6.56 |
3.43 |
LOCAL AGENCY FURTHER INFORMATION
BANKERS CHARGES
REPORT AS PER REGISTRY
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Corporate
identity number of the company |
U15549DL2002PTC116783 |
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Name of the
company |
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Address of the registered
office or of the principal place of
business in |
B- 205, Derawal Nagar, |
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This form is for |
Creation of charge |
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Type of charge |
Hypothecation
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Particular of
charge holder |
Centurion Bank of
Punjab Limited B 34, Ashok
Vihar Phase I, |
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Nature of
instrument creating charge |
Agreement for
Cash Credit agreement of Hypothecation of book debts. |
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Date of
instrument Creating the charge |
27.06.2006 |
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Amount secured by
the charge |
Rs. 11.600
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Hypothecation of
Stocks and book debts is to secure the Cash credit limit of Rs. 11.600
Millions sanctioned to the company Margin on stock
25 % interest at 10.25 % p.a. with monthly rests. |
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Description of
the property charged indicating whether it is a charged on |
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Particulars of
the property charged |
Hypothecation of
stock of dry fruits, nuts and other stocsk stored at B 205, Derawal Nagar, |
AS PER WEBSITE
PROFILE
Subject an ISO 9001:2000 And HACCP (Hazard Analysis And
Critical Control Point) Certified Company From BSI (British Standards
Institution, U.K.), Are The Largest Nut Processor In India Having A Capacity To
Process & Pack Approx. 900 Tonnes / Annum In Technical Collaboration With
Nottas & Company, Greece (Europe). They Process Their Nuts In State Of
In Delhi, They Are Presently Working With Some Of The Prestigious Organizations
like, The Metropolitan Hotel Nikko,
Hotel Surya Crowne Plaza, Dr.Morepen's Life Spring Store, 98.4*C A Chain Of
Stores (Global Health Private Limited), SAK Consumer Retail Services Limited,
Roshanara Club, Wholefoods, National Sports Club, Chelmsfort Club, Big Bazaar
(Sahara Mall, Gurgaon), Taj Sats (Air Catering Services), Oberoi Flight
Ervices, International Amusement Limited (Appu Ghar), Army Canteens to
name a few.
Presently They Are Also Supplying Their Products To Akash Air Force Mess,
Varuna Naval Mess, Air Force Sports Complex & Air Force Golf Club (Reputed
Department Of Indian Forces), Northern Command (Defence). Their Product Is
Being Highly Appreciated By All Of These Reputed Organizations. They are Presently Supplying Their Goods To
One Of The Prestigious Airlines Namely SAHARA INDIA AIRLINES.
PRODUCTS: Their Range Of Products
Includes Different Flavors Of Peanuts (Plain Salted, Hot & Sour, Bhel
Chutney, Orange, Black Pepper, Bhujia, Sesame Coated, Lime Pudina), Peanut Poppers
(Lime Pudina & Cheese Tomato), Roasted Hazel Nuts (Sour Cream & Crispy
Cheese), Chocolate Coated Peanuts, Chocolate Coated Hazel Nuts, Roasted
Almonds, Roasted Cashew, Roasted Pistachio, Roasted Mix Nuts; California Pitted
Prunes, California Pistachio And Health Bar (Strawberry), Health Bar Is Made Up
Of Soya Nuggets And Dry Fruits Like Cashew & Raisins, Which Has Been
Developed In Collaboration With DUPONT,
Solae (USA) And BUNGE INNOVATION.
This Product Is An Excellent Source Of Protein. It Has More Nutrition Than
Traditional Breakfast And Is A Perfect Snack Alternative To Chocolates. If One
Consumes Two Health Bars, Then It Is Equivalent To One Meal According To The
Nutritional Requirement As Per RDA (Recommended Dietary Allowances). Also, It
Is Beneficial For Pregnant Women & Lactating Mothers, School Going
Children, Sportsmen, Health-Conscious People As It Is Handy And Can Be Consumed
Anywhere Anytime.
FUTURE PRODUCTS: Short Coming Products Are
Various Health Bars (Tiffin Bar, Lunch Bar, Power Bar, Synergy Bar) In Flavors
Of Rose, Vanilla, Pineapple, Mango, Orange, Honey, Chocolate, Black Currant;
Chocolate Coated Nuts, Coated Dry Fruits With Fruit Flavour, A Few More
Different Flavors Of Peanuts, Breakfast Cereals, Namkeens, Chips, Juices, Health
Drinks.
MEMBERSHIP: They Are Also The Member Of CII
(Confederation Of Indian Industry); SFA (Snack Food Association), Virginia (
ADVERTISEMENT: They also advertise a lot in
all the leading newspapers, like The
Hindustan Times, The Times Of India, Business Standard, Deccan Herald, Vyapar
Kesari, Dainik Jagran, Rashtriya Sahara, Tribune, Dainik Hindustan, The Hindu,
The Financial Express, Today's Newpaper to name a few and magazines like
India Today, Cosmopolitan, Food Wings,
Woman's Era etc. Apart from advertising they also do a lot of
Promotional Activities, like in Shop Campaigning, participate in lots of events
Etc. They also do lots of Cross-Promotional Activities and in Shop Campaigns.
They have done it with Coca-Cola (I) Limited, Woman's Era & Mohan Meakins.
AWARDS
AND ACHIEVEMENT
Their awards and achievement is their customers. They are
working for customer satisfaction. They don't believe in one time relationship,
they believe in long lasting relationship.
The service philosophy behind Speedway Food And Beverages Private Limited is "Better
Ingredients, Good Health". For undeniably if classic taste is the
prerogative of the consumer, offering classic quality is theirs.
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 Intl
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 companys management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.01 |
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|
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.55.04 |
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 |
4 |
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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 |
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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30 |
This score serves as a reference to assess SCs credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
|
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 |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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