MIRA
INFORM REPORT
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Report Date : |
20.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
RUCHIKA TRADE LINK PRIVATE LIMITED |
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Registered Office : |
131-134, Vrindavan Vihar, D C M Ajmer Road, Jaipur-302019, Rajasthan |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
16.02.1999 |
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Com. Reg. No.: |
15390 |
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CIN No.: [Company
Identification No.] |
U25201RJ1999PTC015390 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JPRR01369E |
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Legal Form : |
Private limited liability company |
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Line of Business : |
Engaged in manufacturing and trading of polyurethene foam, rubber foam, coir mattresses, pillows, cushions, sheets and bolsters of all kind of furnishing items, quilts, bed covers and chemicals. |
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 : |
USD 35000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track records. Directors are reported as experienced and respectable
businessmen. Trade relations are reported as fair. Business is active.
Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usually
trade terms and conditions. |
LOCATIONS
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Registered Office : |
131-134, Vrindavan Vihar, D C M Ajmer Road, Jaipur-302019, Rajasthan,
India |
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Tel. No.: |
91-141-3967846 |
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E-Mail : |
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Location : |
Rented |
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Administrative Office : |
452, Ganpati Plaza, M. G. Road, Jaipur, Rajasthan |
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Tel. No.: |
91-141-371924 / 388756 |
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Factory 1 : |
B-271, Vaishali Nagar, Jaipur, Rajasthan |
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Tel. No.: |
91-141-357220 |
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Fax No.: |
91-141-388670 |
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Location : |
Owned |
SOLE
PROPRIETOR/PARTNERS/DIRECTORS
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Name : |
Mr. Paras Ram Jangid |
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Designation : |
Director |
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Address : |
Vaishali Nagar, Jaipur, Rajasthan |
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Name : |
Mr. Lalit Kumar Khetan |
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Designation : |
Director |
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Address : |
A-33, Raghav Apartments, Shyam Nagar, Jaipur-302014, Rajasthan, India |
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Date of Birth/Age : |
16.03.1970 |
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Date of Appointment : |
16.02.1999 |
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Name : |
Mr. Sandeep Khemka |
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Designation : |
Director |
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Address : |
16, Kailash Hills, New Delhi |
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Date of Appointment : |
29.09.2000 |
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Name : |
Mr. Arshad Jamal |
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Designation : |
Director |
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Address : |
Flat No.1 and 2, 105/592, Chaman Ganj, Helian, Market, Kanak |
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Date of Appointment : |
29.09.2000 |
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Name : |
Mr. Arvind Bajoria |
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Designation : |
Director |
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Address : |
131-134, Vrindavan Vihar DCM Ajmer Road, Jaipur-302006, Rajasthan,
India |
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Date of Birth/Age : |
29.07.1966 |
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Date of Appointment : |
05.07.2000 |
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Name : |
Mr. Manoj Kumar Agarwal |
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Designation : |
Director |
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Address : |
Club Town, BL-II, VIP Road, Teghoria, Kolkata-700059, West Bengal,
India |
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Date of Birth/Age : |
15.04.1969 |
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Date of Appointment : |
29.09.2006 |
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Name : |
Mr. Dinesh Chandra Bajoria |
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Designation : |
Director |
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Address : |
6, Dover Road, Kolkata-700019, West Bengal, India |
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Date of Birth/Age : |
05.01.1944 |
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Date of Appointment : |
29.09.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr.Arvind Bijoria |
40000 |
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Mrs. Anupama Bajoria |
40000 |
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Mrs. Pushpa Agarwal |
10 |
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Mr. Arshad Jamal |
5000 |
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Mr. Imtiaze Ahmed |
5000 |
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Mr. Paras Ram Jangid |
6000 |
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Mr. Lalit Kumar Khetan |
50 |
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Mr. Ramesh Chandra Bijoria |
3890 |
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Mr. Dinesh Chandra Bijoria |
25000 |
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Mrs. Bhagwani Devi Agarwal |
15000 |
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Mrs. Madhu Agarwal |
10 |
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Prem Kumar Agarwal, HUF |
10 |
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Mr. Inder Chand Agarwal, HUF |
15000 |
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Mr. M.P. Agarwal |
10000 |
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Mr. Suresh Bijoria |
75000 |
BUSINESS DETAILS
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Line of Business : |
Engaged in manufacturing and trading of polyurethene foam, rubber foam, coir mattresses, pillows, cushions, sheets and bolsters of all kind of furnishing items, quilts, bed covers and chemicals. |
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Products : |
Arvind Coir Foam, Bonded Mattresses
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GENERAL
INFORMATION
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No. of Employees : |
23 |
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Bankers : |
Bank of Baroda, M. I. Road, Jaipur, Rajasthan |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Parashar and Company Chartered Accountants |
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Address : |
208, Badoyia Scheme, Sunder Path, Behind Crystal Mall, Bani Park, Jaipur-302006,
Rajasthan, India |
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Associates/Subsidiaries : |
Amul Polycure Industries Limited SR Poly Steel Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 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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1.000 |
1.000 |
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2] Share Application Money |
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4.540 |
5.100 |
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3] Reserves & Surplus |
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2.677 |
0.964 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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8.217 |
7.064 |
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LOAN FUNDS |
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1] Secured Loans |
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1.957 |
2.283 |
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2] Unsecured Loans |
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0.749 |
17.425 |
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TOTAL BORROWING |
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2.706 |
19.708 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.104 |
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TOTAL |
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10.923 |
26.876 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.751 |
0.959 |
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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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3.610 |
2.751 |
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DEFERREX TAX ASSETS |
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0.392 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.395 |
0.820 |
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Sundry Debtors |
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4.142 |
11.862 |
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Cash & Bank Balances |
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2.856 |
2.862 |
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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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16.682 |
30.594 |
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Total
Current Assets |
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24.075 |
46.138 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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16.598 |
22.817 |
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Provisions |
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1.307 |
0.157 |
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Total
Current Liabilities |
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17.905 |
22.974 |
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Net Current Assets |
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6.170 |
23.164 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.002 |
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TOTAL |
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10.923 |
26.876 |
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A providing Profit
and Loss Account will be sent soon.
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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NA |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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NA |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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2.51 |
6.04 |
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Current Ratio (Current Asset/Current Liability) |
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1.34 |
2.01 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or modification of charges
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Name of the company |
RUCHIKA TRADE LINK PRIVATE LIMITED |
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Presented By |
Jointly
by Bank of Baroda, M I Road, Jaipur and by the company. |
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1) Date and description of instrument creating the change |
Hypothecation agreement dated 29.07.2000 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.9.500 millions CC : Rs.2.000 millions LC : Rs.7.5000 millions Total : Rs.9.500 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 |
Hypothecation of all stock of raw material, semi finished and finished goods such as chemicals, form, coke etc, packing materials etc. whatsoever and where so ever situate and/or in transit and situated at Factory premises and godown of the company Hypothecation of all present and future book debts, outstanding moneys, receivables, claims, bills of the company. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
For CC Limits : Interest PLR plus 4% Margin 25% Repayable on demand For LC Limit : Margin 25% Commission / Charges : as per Bank/ RBI/FEDAI rules. |
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5) Name and Address and description of the person entitled to the charge. |
Bank of Baroda, M I road, Jaipur |
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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 |
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 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.43.66 |
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UK Pound |
1 |
Rs.85.91 |
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Euro |
1 |
Rs.58.44 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
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 |
YES |
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TOTAL |
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45 |
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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