MIRA
INFORM REPORT
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Report Date : |
01.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
KOTHARI TRADE LINK LIMITED |
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Registered Office : |
202/D, Indo Commercial Complex, Behind Kodiwala High School, Ring
Road, Surat 395002, Gujarat |
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Country : |
India |
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Date of Incorporation : |
10.08.2005 |
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Com. Reg. No.: |
04-46582 |
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CIN No.: [Company
Identification No.] |
U51101GJ2005PLC046582 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
SRTK01781D |
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PAN No.: [Permanent
Account No.] |
AACCK6415C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
To carry on the business of exporters, importers, traders and dealers in
yarns of all kinds, POY, including texturising of Yarns of all kinds more
particularly twisting, among and knitting of synthetics filament yarns such
as polyester, nylon, rayon, cotton and its mix and also to carry out job work
in this line and of this nature for and on behalf of any manufacturer,
merchant or person |
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 : |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and yet to establish itself. Directors are
reported as experienced and respectable businessmen. Trade relations are
reported as fair. No Payments are available. The company can be considered for small business dealings with slight
caution initially. |
LOCATIONS
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Registered Office : |
202/D, Indo Commercial Complex, Behind Kodiwala High School, Ring
Road, Surat 395002, Gujarat |
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Tel. No.: |
02-792-3768 |
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Fax No.: |
02-792-3767 |
DIRECTORS
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Name : |
Mr. Ankit Maheshwari |
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Designation : |
Director |
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Address : |
G 1111, Green Avenue Apartment, B/H Union Parle Lane, Ghod Doo Road,
Surat |
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Date of Appointment : |
10.08.2005 |
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Name : |
Mr. Chandra Mohan Maheshwari |
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Designation : |
Director |
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Address : |
G 1111, Green Avenue Apartment, B/H Union Parle Lane, Ghod Doo Road,
Surat |
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Date of Appointment : |
10.08.2005 |
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Name : |
Mr. Sanjay Maheshwari |
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Designation : |
Director |
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Address : |
G 1111, Green Avenue Apartment, B/H Union Parle Lane, Ghod Doo Road,
Surat |
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Date of Appointment : |
10.08.2005 |
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Name : |
Mr. Akhilesh Maheshwari |
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Designation : |
Director |
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Address : |
G 1111, Green Avenue Apartment, B/H Union Parle Lane, Ghod Doo Road,
Surat |
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Date of Appointment : |
10.08.2005 |
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Name : |
Ms. Snealata Maheshwari |
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Designation : |
Director |
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Address : |
G 1111, Green Avenue Apartment, B/H Union Parle Lane, Ghod Doo Road,
Surat |
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Date of Appointment : |
10.08.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Ms. Snealata Maheshwari |
9000 |
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Ms. Kavita V Maheshwari |
900 |
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Mr. Eraharam Subramanyam Kumar |
100 |
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Mr. Ankit Maheshwari |
10000 |
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Mr. Chandra Mohan Maheshwari |
10000 |
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Mr. Sanjay Maheshwari |
10000 |
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Mr. Akhilesh Maheshwari |
10000 |
BUSINESS DETAILS
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Line of Business : |
To carry on the business of exporters, importers, traders and dealers
in yarns of all kinds, POY, including texturising of Yarns of all kinds more
particularly twisting, among and knitting of synthetics filament yarns such as
polyester, nylon, rayon, cotton and its mix and also to carry out job work in
this line and of this nature for and on behalf of any manufacturer, merchant
or person |
GENERAL
INFORMATION
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Bankers : |
Corporation Bank, Near Sai Baba Mandir, Choota Pul, Machilipith, Surat
395003, Gujarat |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Memberships : |
Nil |
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Collaborators : |
Nil |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs. 10/- Each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 10/- Each |
Rs. 0.500
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
Nil
LOCAL AGENCY
FURTHER INFORMATION
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Corporate
identity number (CIN) Foreign company registration number |
U51101GJ2005PLC046582 |
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Name of the
Company |
KOTHARI TRADE LINK LIMITED |
|
Address |
202/D, Indo Commercial Complex, Behind Kodiwala High School, Ring
Road, Surat 395002, Gujarat |
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Type of Charge |
Book Debts |
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Particulars of
the charge holder |
Corporation Bank, Near Sai Baba Mandir, Choota Pul, Machilipith, Surat
395003, Gujarat |
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Nature or
description of the instrument or modifying the charge |
Common Deed of hypothecation of movable, assets, debts for secured of
credit facilities |
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Date of
Instrument Charge |
15.09.2006 |
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Amount secured by
the charge |
Rs. 9.499
Millions |
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Brief of the
principal terms and conditions |
Rate of Interest
Cash Credit
- Interest Rate 10% Term Loan
I Interest Rate 9.5% Term Loan II Interest
Rate 9.5% Terms of
repayment Cash Credit
Yearly Subject to renewal Term Loan 60
Month 57 Monthly installment EMI of Rs. 0.088 Millions Margin Cash Credit
Stock 30% Book Debts Term Loan
50.25% on hypothecation of machines |
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Short particulars
of the property charged |
Hypothecation
deed for secured of credit facilities Hypothecation of
Machineries/Assets Hypothecation of
stocks including threads yarn inventory of the company in present and future Hypothecation of
book debts of the company in present and future |
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 |
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US Dollar |
1 |
Rs.44.28 |
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UK Pound |
1 |
Rs.86.62 |
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Euro |
1 |
Rs.58.32 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
- |
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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 |
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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15 |
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
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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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PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions