MIRA
INFORM REPORT
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Report Date : |
05.05.2007 |
IDENTIFICATION DETAILS
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Name : |
OMKAR SPECIALITY
CHEMICALS PRIVATE LIMITED |
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Registered Office : |
W92 - (A),
M.I.D.C Mankivili, Badlapur (East), District-Thane, Maharashtra, Pin Code : 421503,
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Country : |
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Financial as on : |
31.03.2006 |
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Date of Incorporation : |
24.02.2005 |
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Com. Reg. No.: |
11-151589 |
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CIN No.: [Company
Identification No.] |
U24110MH2005PTC151589 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUM003622D |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturing,
Processing, Formulating, Producing, Refining, Fermenting, Converting, Distilling,
Purifying, Blending, Buying, Importing, Stocking, Supplying, Selling,
Distributing, Trading, Exporting and dealing in all kinds and varieties of
Chemicals of Various Specifications, Purities, Nature including Speciality
Chemical, Organic and Inorganic Chemical and Compounds thereof, Bio Chemical,
Petro Chemical, Insecticides, Cleaning Chemical, Chemical Compounds,
Laboratory Chemicals, Scientific Chemicals, Agriculture Chemical, Heavy
Chemical, Pharmaceutical Chemical, Fine Chemical, Photographic Chemical,
Water Chemical and all or any of the by – products resulted therefrom,
Whether used presently or to be invented in future for Industrial, Medical,
Pharmaceutical, Agriculture, Domestic, Household, Waste Treatment |
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 150000 |
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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 : |
W92 - (A),
M.I.D.C Mankivili, Badlapur (East), District-Thane, |
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Tel. No.: |
91-251-2690651/2691602/2697319 |
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Fax No.: |
91-251-2691572 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Pravin Shivdas Herlekar |
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Designation : |
Director |
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Address : |
“Sitaram”, Genesh
Chowle, Manjali, Badlapur (West), District – Thane – 421503 |
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Name : |
Mr. Shivdas Ramrao Herlekar |
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Designation : |
Director |
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Address : |
“Sitaram”, Genesh
Chowle, Manjali, Badlapur (West), District – Thane – 421503 |
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Name : |
Mrs. Anjali Pravin Herlekar |
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Designation : |
Director |
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Address : |
“Sitaram”, Genesh
Chowle, Manjali, Badlapur (West), District – Thane – 421503 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Pravin Herlekar |
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900 |
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Shivdas Herlekar |
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50 |
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Anjali Herlekar |
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50 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing,
Processing, Formulating, Producing, Refining, Fermenting, Converting, Distilling,
Purifying, Blending, Buying, Importing, Stocking, Supplying, Selling,
Distributing, Trading, Exporting and dealing in all kinds and varieties of
Chemicals of Various Specifications, Purities, Nature including Speciality
Chemical, Organic and Inorganic Chemical and Compounds thereof, Bio Chemical,
Petro Chemical, Insecticides, Cleaning Chemical, Chemical Compounds,
Laboratory Chemicals, Scientific Chemicals, Agriculture Chemical, Heavy
Chemical, Pharmaceutical Chemical, Fine Chemical, Photographic Chemical,
Water Chemical and all or any of the by – products resulted therefrom,
Whether used presently or to be invented in future for Industrial, Medical,
Pharmaceutical, Agriculture, Domestic, Household, Waste Treatment |
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Products : |
Chemical |
GENERAL INFORMATION
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No. of Employees : |
About 150 |
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Bankers : |
Citi bank N.A, Citibusiness,
Citibank Centre, 2nd Floor, Bandra Kurla Complex, Bandra (East),
Mumbai;400051, |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. P V Kaamat Chartered Accountant |
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Address : |
H12 Khankdelwal Bhavan 2nd floor 166 Dr. D. N. Road
Mumbai;400001, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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26200 |
Equity Shares |
Rs.100/-
each |
Rs.2.620
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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.620 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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35.509 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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38.129 |
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LOAN FUNDS |
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1] Secured Loans |
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72.207 |
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2] Unsecured Loans |
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4.444 |
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TOTAL BORROWING |
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76.651 |
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DEFERRED TAX LIABILITIES |
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0.195 |
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TOTAL |
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114.975 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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8.610 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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46.329
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Sundry Debtors |
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70.523
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Cash & Bank Balances |
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0.544
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Other Current Assets |
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6.030
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Loans & Advances |
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13.401
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Total
Current Assets |
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136.827
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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30.570
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Provisions |
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0.000
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Total
Current Liabilities |
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30.570
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Net Current Assets |
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106.257
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MISCELLANEOUS EXPENSES |
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0.108 |
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TOTAL |
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114.975 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.80 |
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Current Ratio (Current Asset/Current Liability) |
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1.28 |
LOCAL AGENCY FURTHER INFORMATION
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Corporate
identity number of the company |
U24110MH2005PTC151589 |
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Name of the
company |
OMKAR SPECIALITY
CHEMICALS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
23, Vrindavan , 4
bungalows Road, Andheri (West), Mumbai’;4000558, |
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This form is for |
Modification of
Charge |
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Type of charge |
Hypothecation Equitable
mortgage of Property by depositing the title deeds |
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Particular of
charge holder |
Citi bank N.A, Citibusiness,
Citibank Centre, 2nd Floor, Bandra Kurla Complex, Bandra (East),
Mumbai;400051, |
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Nature of
instrument creating charge |
Composite
Hypothecation Agreement excuted by Omkar Speciality Chemicals Private Limited
in favour of Citibank N.A. |
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Date of
instrument Creating the charge |
23.06.2005 |
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Amount secured by
the charge |
Total Working
Capital Rs.63.000 Millions which is allocated to there group including Omkar Spatiality
chemicals Private Limited and Rischicjem Research Private Limited |
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Brief of the
principal terms an conditions and extent and operation of the charge |
In consideration
of the lender having agreed to lend advance to the company the said credit
facilities under the agreement, the company convents inter alia, as follows: 1) The company do replay the facility as
mentioned in 2) above and pay interest and all other monies in the manner set
out in the said agreement between the company and the lender and to comply
with the terms and conditions of the said agreement. 2) The charge on the current assets and fixed
assets(including stock, book debnts, and plant and machinery) hypothecated to
the lender will rank first pari passu with the existing working capital
lenders, The above assets will be
under charge as per above towards the repayment of credit facilities with all
interest , liquidated, damages, premia or prepayment or on redemption \,
costs, charges, and other expenses payable by the company to the lender in
respect thereof. 3) The company t keep the said assets in
marketable and good conditions and also insured as prvided therein. 4) Power of entry, power to take charge and /
or possession of seize, recover, receive, appoint and sell, contract,
dispatch for realization or otherwise dispose of or deal with all or any part
of thesaid goods; etc, as provided therin. |
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Description of
the property charged |
Plant and
machinery Furniture and Fixture Stock in trade |
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Particulars of
the property charged |
The whole of
movable assets, including plant and machinery, both present and future stocks
of raw material, goods in process of manufacture, semi finished goods and all
finished and manufactured goods and articles together with all stores,
components and spares which now belongs to and pertains to, or may hereafter from time to time during
the continuance of this security belongs to and pertains to the Omkar
Speciallity Chemicals Private Limited and which are shall or may be brought
into stored orbe in or upon or about the Omkar Speciality Chemicals Private
Limited factory, godowns and/or their premises wherever else the same may be
situated stored or lying or being including any such raw materials,
inventories articles or goods any stores spares omkar Spatiality chemicals
Private Limited and all of the Omkar Speciallity Chemicals Private Limited
Present and future book debts, outstanding Monies, receivables Claims bills
investments, rights to or on movables assets forming part of current and
movable fixed assets which may at any tie hereafter during the continuance of
this security becomes due, owing payables or belonging to or pertaining to
the Omkar Speciallity Chemicals Private Limited in the course of its business
and together with all benfits, advantage and legal incidence therof. |
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Name of the company |
M/s. Omkar
Spatiality Chemicals Private Limited |
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Presented By |
Mr. P. S.
Herlekar |
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1) Date and description of instrument creating the change |
Composite Hypothecation Agreement dated:23.06.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Total working
capital facilities for rs.63.000 Millions which is allocated to group
including M/s. Omkar Spatiality Chemicals Private Limited and M/s. Rishichem
Research Private Limited |
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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 |
The whole of
Movable assets including plant and machinery, both present and future, stocks
of raw materials, goods in process of manufacture, semi finished goods and
all finished and manufactured goods and articles together with all stores
components and spares which now belongs to and pertains to or, may hereafter
from time to time during the continuance of this security belongs to and
pertains to the M/s. Omkar Specialty Chemicals Private Limited and which are
or or shall or may be brought into
stored or be in or upon or about the
M/s. Omkar Specialty chemicals Private Limited Factory Godowns, and/or their
premises wherever else the same may be situated, stored or lying or being
including any such war materials, inventories articles or goods any stores
spares and Component or
other similar movable assets in course of transit or delivery to the M/s. Omkar specialty Chemicals Private
Limited and all of the M/s. Omkkar Specialty chemicals Private limited
present and future book debts. Outstanding Monies, receivables claims, bills,
investments, rights to or on moveable properties and movable assets forming
part of current and movable fixed assets which are now due owing or payable
or belonging to or pertaining to the M/s. Omkar specialty Chemicals Private
Limited or which may at any time hereafter during the continunance of this
security become dueowing payable or belonging to or pertaining to the M/s.
omkar Specialty Chemicals Private Limited in the course of its business and
Together with all benefits advantages and legal incidence thereof. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
In consideration
of the lender having agreed to lend advance to the Borrowers the said credit
facilities, the M/s. Omkar Chemicals Private Limited convenants inter alia as
follows:
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5) Name and Address and description of the person entitled to the charge. |
CITIBank N.A.Citigroup Bandra Kurla
Complex, G- Bolck Bandra(E), Mubai51 |
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6) Date and brief description of instrument modifying the charge |
-- |
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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. |
-- |
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Corporate
identity number of the company |
U24110MH2005PTC151589 |
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Name of the
company |
OMKAR SPECIALITY
CHEMICALS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
23, Vrindavan , 4
bungalows Road, Andheri (West), Mumbai’;4000558, |
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This form is for |
Modification of
Charge |
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Type of charge |
Hypothecation Equitable mortgage
of Property by depositing the title deeds |
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Particular of
charge holder |
Citi bank N.A, Citibusiness,
Citibank Centre, 2nd Floor, Bandra Kurla Complex, Bandra (East),
Mumbai;400051, |
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Nature of
instrument creating charge |
-- |
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Date of
instrument Creating the charge |
The Company has
created a mortage by deposit of title deeds relating to company’s immovable
properties a ssecurity for the due payment, discharge and redemption by the
M/s Omkar Speciality Chemicals Privat Limited |
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Amount secured by
the charge |
-- |
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Brief of the
principal terms an conditions and extent and operation of the charge |
-- |
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Description of
the property charged |
Immovable
Properties |
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Particulars of
the property charged |
Equitable Mortage
on first exclusive charge basis on proiperty including factory land and
building located at : Plot no. W-92-A, F-24, MIDC, Badlapur, Thane:421503 |
As per website
Details:
Products
M.S.D.S for indivudial product avalable on request.
IODINE DERIVATIVES
- Potassium
Iodide
- Sodium
Iodide
- Cuprous
Iodide
- Ammonium
Iodide
- Ferrous
Iodide
- Zinc
Iodide
- Sodium
Metaperiodate
- Potassium
Metaperiodate
- Hydriiodic
Acid (solution)
- Iodic
Acid
- Periodic
Acid
- Iodine Pentoxide
- Iodine
Monochloride
- Ethylenediamine
Dihydriodide / EDDI
- O-iodobenzoic
acid Methyl Ester
- Tetraethyl Ammonium Iodide
- Tetrabutyl Ammonium Iodide
- Iodoacetic Acid
- Diphosporous Tetraiodide
- Iodine Solution (0.5% Aq)
- Methyl
Iodide
- Ethyl
Iodide
- Butyl
Iodide
- Iodo Ethanol
- Trimethylsulfoxonium
Iodide
- Iodobenzene
- O-Iodophenol
- P-Iodobenzaldehyde
- O-Iodobenzoic
Acid
- P-Iodotoluene
- P-Iodoanisole
- P-Iodoaniline
- P-Bromoiodobenzene
- t-Butylhypoiodite (in CCl4)
- P-Chloroiodobenzene
- N-Iodosuccinimide
- 3,5
Diiodosalicylic Acid
- 4,4 Diiodo Biphenyl
2-Chloro-1-methyl
Pyridinium Iodide
SELENIUM
DERIVATIVES
- Selenium
Dioxide
- Selenium
Sulfide U.S.P.
- Sodium
Selenite
- Sodium
Selenate
- Zinc
Selenite
- Copper
Selenate
- Barium
Selenite
- Ferrous Selenide
- Hydrogen Selenide (sol)
- Seleneous
Acid
- Selenic
Acid
- Sodium Selenide
- Diphenyl Selenide
- Benzeneseleninic
Anhydride
- Benzeneseleninic
Acid
- Diphenyl
Diselenide
- Selenophenol
(phenylselenol)
- Selenium Aspartate
- Phenylselenenyl
Chloride
- Phenylselenenyl
Bromide
- Selenourea
- L(+)
Selenomethionine
Selenium Tetrabromide
HYPERVALENT IODINE
- O-iodoxybenzoic
Acid
- Dess-martin
Periodinane
- Iodobenzene
Dichloride
- Iodobenzene
Diacetate / Diacetoxy iodobenzene
- Diphenyliodonium
Iodide
- Iodosylbenzene / iodosobenzene
MOLYBDENUM
& VANADIUM
·
Molybdic Acid.
·
Molybdenum Disulfide
ORGANIC
SPECIALITIES
·
Bromoacetic Acid
·
4-Quinolinecarboxyaldehyde
·
2-Quinolinecarboxyaldehyde
·
4,4' Ditertbutyl Biphenyl
·
3,4 Dihydroxy-5-nitro-Benzaldehyde
·
Pyridinium Dichromate
·
4-Chloro Thiobenzamide
·
t-Butyl Hypochlorite
·
DL-Camphoroquinone
·
Chromyl Chloride
Profile
Omkar
Speciality Chemicals Pvt. Ltd. was founded in 1980 by Mr. P.S Herlekar, himself
a B-Tech chemical engineer from IIT Bombay, with an objective to develop
speciality reagents required for pharmaceutical industries.
Initially
the company started with development of inorganic oxidants such as Molybdenum
trioxide, Selenium dioxide, Sodium metaperiodate, Led tetra acetate etc.
Their
company's association with other leading bulk drugs, pharmaceuticals &
cosmetic manufacturers enabled us to Borden the business continuously improving
the product range, with a dedication to both service & growth, they have
developed a dynamic technical team which has enabled us to offer a direct line
of organic-inorganic intermediates demanded by their customers.
As far
as man power is concerned, they lay a great degree to emphasis on the quality
of every member in their organization who are greatly qualified, widely
experienced & dedicated technocrats, who constantly try to enhance the
quality of their existing products & develop new products to meet the
growing demands in the market.
Quality of the products is of paramount importance to us. They acknowledge
their responsibility to their customers to provide a quality assured service
which is the basis of their continuous growth.
All
their products are made to the highest standards & are thoroughly checked
for compliance for specifications.
The in
house testing facility include, titrometric, potentiometric, iodometric, redox
estimation process, they also have other common instruments for tests, such as
melting point, KF moisture, UV , TLC, spectroscopy etc. they also have
ancillary facility for chromatography & HPCL.
Research
& development : Over the years, " Omkar Chemicals ", has widened
its horizon & extended its capabilities to manufacture new generation
chemicals & have developed many proprietary products. Research &
Development group which is the nerve center of their organization has enabled
to acquire a name in the chemical & allied industries. They also undertake
custom manufacturing & job work for consumer requirements if any in their
area of work. their specialization in the field of iodine chemistry has enabled
us to widen their business world over.
Environmental
aspects :
Their factory is located in a notified industrial chemical zone in maharashtra
industrial development corporation. They give utmost importance to complying
with the requirements of maintaining the pollution level of the effluents. They
have in house facilities for primary& secondary treatment after which the
effluents are further treated in common effluent treatment plant located in
their industrial area.
Future vision : Their success
reflects the depth of their partnership with their costumers in providing
products of quality &value. Their costumers are constantly in touch with us
for development of new molecules to cater to their new products to be launched
in the future, their attention to changes in requirements of both present &
potential costumers will support a border relationship leading to innovative
ideas, techniques & products for time to come
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international anti-terrorism
laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.57 |
|
|
1 |
Rs.80.97 |
|
Euro |
1 |
Rs.55.19 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
|
|
DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
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 |
|