MIRA
INFORM REPORT
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Report Date : |
16.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
Air O Matic System Div of Capita |
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Registered Office : |
22, 4th Lane, 1st Cross, Shastri Nagar Adyar, Chennai
600020, Tamilnadu, India. |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
04.08.1989 |
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Com. Reg. No.: |
18-17847 |
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CIN No.: [Company
Identification No.] |
U52599TN1989PTC017847 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHER06478D |
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PAN No.: [Permanent
Account No.] |
AAACR2684Q |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Dealers of Carrier Air conditioner and UPS Eaton. Installation & Maintenance of Air Conditioning Systems of Carrier Aircon |
RATING &
COMMENTS
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MIRAs 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 10000 |
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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. 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 usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
22, 4th Lane, 1st
Cross, Shastri Nagar Adyar, Chennai 600020, Tamilnadu, India. |
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Tel. No.: |
91-44-24914560/ 24911460/ 24910236 / 24993511 |
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Mobile No.: |
91-9884391256 |
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Fax No.: |
91-44-52124538/43511983 |
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E-Mail : |
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Website : |
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Area : |
1800 Sq. ft |
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Location : |
Rented |
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Branches : |
Carrier Comfort Point 105, L.B. Road, Adayar, Chennai 600020 |
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Tel. No.: |
91-44-24461495/ 24917258 |
DIRECTORS
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Name : |
Mr. S. Sankara Subramanian |
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Designation : |
Director |
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Address : |
F 1, Seashore Apartments, 3 Jayaramanchetty St. Chennai 600041,
Tamilnadu |
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Date of Birth/Age : |
10.08.1953 |
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Qualification : |
B. Tech Chemical Engineer |
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Experience : |
30 Years |
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Date of Appointment : |
11.02.1998 |
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Name : |
Mr. A. Vaidayanathan |
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Designation : |
Director |
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Address : |
18 3RD b Cross, Domlor 2nd Stage, Bangalore
560071 |
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Date of Birth/Age : |
25.05.1953 |
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Date of Appointment : |
11.02.1998 |
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Name : |
Ms. Ushamani |
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Designation : |
Director |
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Address : |
F 1, Seashore Apartments, 3 Jayaramanchetty St. Chennai 600041,
Tamilnadu |
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Date of Birth/Age : |
47 Years |
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Qualification : |
B.A. |
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Experience : |
10 Years |
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Date of Appointment : |
26.08.2005 |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. S. Sankara Subramanian |
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750 |
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Ms. Ushamani |
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750 |
BUSINESS DETAILS
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Line of Business : |
Dealers of Carrier Air conditioner and UPS Eaton. Installation & Maintenance of Air Conditioning Systems of Carrier Aircon |
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Products : |
v Window v Split v Ductable v MMS v Carrier Air
conditioner |
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Brand Names : |
v Carrier Aircon
Limited v Eaton Power
Quality Private Limited |
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Terms : |
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Selling : |
Cash and Credit (30 days and 60 days) terms |
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Purchasing : |
Credit (30 days and 60 days) terms. |
GENERAL
INFORMATION
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Customers : |
v HCL Technologies
Limited., v Data access
India Limited., v TELCO. v Epson. v Electric steel
castings Limited., v SUN TV v HTC Inc, v Lintas v Kalasa sound
productions v Smithkline
Beacham Consumer Healthcare Limited., v Haystack
Software Systems Private Limited., v Chennai customs
house agents association v End Users |
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No. of Employees : |
60 |
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Bankers : |
v Canara Bank,
Padmanabha Nagar, Adayar, Chennai 600020. v Karur Vysya
Bank, Shah Complex, L.B.Road, Adayar, Chennai 600020 |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sundaram & Narayanam Chartered Accountant (Mr. K Meenatchi Sundaram , Partner , Membership No. 27073) |
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Address : |
18, Balaiah Avenue, Mylapore, Chennai 600004 |
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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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2000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.200
millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500 |
Equity Shares |
Rs. 100/- each |
Rs. 0.150
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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0.150 |
0.150 |
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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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2.762 |
2.845 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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2.912 |
2.995 |
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LOAN FUNDS |
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1] Secured Loans |
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0.096 |
0.117 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.096 |
0.117 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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3.008 |
3.112 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.963 |
0.662 |
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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 |
0.500 |
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DEFERREX TAX ASSETS |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.533 |
0.379 |
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Sundry Debtors |
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2.002 |
0.542 |
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Cash & Bank Balances |
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5.190 |
6.125 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.587 |
1.490 |
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Total
Current Assets |
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8.312 |
8.536 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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6.267 |
6.586 |
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Provisions |
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Total
Current Liabilities |
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6.267 |
6.586 |
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Net Current Assets |
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2.045 |
1.950 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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3.008 |
3.112 |
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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 |
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23.469 |
22.899 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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23.469 |
22.899 |
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Profit/(Loss) Before Tax |
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0.967 |
0.871 |
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Provision for Taxation |
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0.365 |
0.344 |
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Profit/(Loss) After Tax |
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0.602 |
0.527 |
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Expenditures : |
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Depreciation & Amortization |
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0.258 |
0.165 |
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Other Expenditure |
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21.986 |
21.698 |
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Total Expenditure |
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22.244 |
21.863 |
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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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2.56 |
2.30 |
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Net Profit Margin (PBT/Sales) |
(%) |
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4.12 |
2.30 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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47.28 |
44.66 |
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Return on Investment (ROI) (PBT/Networth) |
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33.20 |
0.29 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.15 |
2.19 |
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Current Ratio (Current Asset/Current Liability) |
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1.32 |
1.29 |
LOCAL AGENCY
FURTHER INFORMATION
It is in trade terms with:
Refrigeration and Allied Traders
105, Peters Road,
Royapettah, Chennai 600014.
Tel. No. : 91-44-52157733/ 52177733
Air Breeze India Private Limited
32 A, Medavakkam Main Road, Keelkattalai, Chennai 600117.
Tel. No. : 91-44-22472883.
Rishab Enterprises
Shop No.2, City Centre, (New No. 66), Tirumalai Pillai Road, T.Nagar,
Chennai 600017.
Tel. No. : 91-44-28158279/ 28156311
Sun TV
Teynampet, Anna Salai, Chennai.
HCL Technologies Limited
28/29, N.M.Road, Chennai.
Mr. R. M. R. Ramesh
Dinakaran Tamil Daily, Kutchery Road,
Mylapore, Chennai
Cell. No. 9840024546 (Mr. Ramesh)
9840109641 (Mr. V. Sridhar)
M/s. Enervac Engineering Consultant
Mylapore, Chennai
Mr. V Sridhar, Consultant
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Name of the company |
BAMESHVAR & SANTVIL PRIVATE LIMITED |
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1) Date and description of instrument creating the change |
13.04.2005 Agreement cum deed of hypothecation
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2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 0.055 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 by way of first charge in favour of canara Bank,
Padmanabha Nagar Branch, Chennai of Compaq Presario M 2013 Laptop with carry
case costing Rs. 0.073 Millions |
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4) Gist of the terms and conditions and extent and operation of the
charge. |
Rate of Interests Interest at the rate of Rs. 10.75% with monthly
retests. Margin 20% Repayment Repayable in 24 monthly installments of Rs. 0.002 Millions
Purpose Purchase of a Compaq laptop vakued Rs. 0.073 Millions |
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5) Name and Address and description of the person entitled to the
charge. |
Canara Bank, Padmanabha Nagar Branch, 123, L B Road, Adyar, Chennai
600020 |
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6) Date and brief description
of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
As per website details
IN SERVICE
Promoted by qualified technocrat engineers, having spent more than 25 years individually in the air-conditioning field.
To us it does not matter, how big or small a client you are. You are their client and simply deserve the best of service and attention.
They fully appreciate the need of quality after sales service, even if you buy the best of the AC unit!
They have consciously built their team that fully understands & values this philosophy.
Thus, out of 4 times for which BEST SERVICE AWARD was declared by Carrier Aircon Limited, they have won it for 3 times.
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
|
Indian Rupees |
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US Dollar |
1 |
Rs.43.14 |
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UK Pound |
1 |
Rs.84.71 |
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Euro |
1 |
Rs.57.58 |
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 |
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 |
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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46 |
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 |
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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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