MIRA
INFORM REPORT
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Report Date : |
01.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
NAMHO ANGARAKA PROJECTS PRIVATE LIMITED |
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Registered Office : |
103,Sector 14, Sonepat – 1310, Haryana |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
21.10.2003 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKN02064G |
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PAN No.: [Permanent
Account No.] |
AACCN0731A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader and Importer of Pulses, Green Peas. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subjects is a well established company and doing steady business.
Trade relations are fair. Financial
Position is Satisfactory. Payment are Usually Correct and as per commitments. The concern can be considered normal for
business dealing at usual trade terms and conditions. |
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LOCATIONS
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Registered Office : |
103, Sector 14, Sonepat
– 13101, Haryana |
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Area : |
5,000 sq.ft. |
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Location : |
Owned |
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Head Office : |
403, Azadpur Commercial Complex, Asadpur, New Delhi –
110033 |
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Tel. No.: |
91-11-27682160 |
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Fax No.: |
91-11-27682155 |
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Mobile |
91-9312955998 |
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E-mail : |
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Website : |
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Area : |
400 sq.ft. |
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Location : |
Rented |
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DIRECTORS
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Name : |
Mr. Shailendra Chauhan |
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Designation : |
Director |
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Date of Birth/Age : |
39 Years |
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Qualification : |
Mechanical Engineer |
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Name : |
Mrs. Sumitra Chauhan |
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Designation : |
Director |
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Date of Birth/Age : |
39 Years |
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Qualification : |
Post Graduate in Economics |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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BUSINESS DETAILS
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Line of Business : |
Trader and Importer of Pulses, Green Peas. |
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Products : |
Pulses, beans, cereals, fresh fruits and vegetables, Canned fruits and
vegetables, Frozen fruits, vegetables and cereals. Process food like pastas,
macaronis etc. |
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Exports : |
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Products : |
Cereals, fresh fruits and vegetables, Canned fruits and vegetables,
Frozen fruits, vegetables and cereals. Process food like pastas, macaronis
etc. |
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Countries : |
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Imports : |
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Products : |
Pulses, beans, cereals |
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Countries : |
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Terms : |
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Selling : |
CAD and Letter of Credit(15 days) |
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Purchasing : |
CAD and Letter of Credit(15
days) |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
12 |
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Bankers : |
Bank of Baroda (Delhi)) |
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Facilities : |
O/D,C/C, and L/C – 9.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Manoj Jeevan and Associates Chartered
Accountants |
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Address : |
Delhi |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.000 |
0.500 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.218 |
0.045 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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2.218 |
0.545 |
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LOAN FUNDS |
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1] Secured Loans |
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2.010 |
0.969 |
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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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2.010 |
0.969 |
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DEFERRED TAX LIABILITIES |
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0.008 |
0.001 |
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TOTAL |
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4.236 |
1.515 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.234 |
0.063 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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9.740 |
0.288 |
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Sundry Debtors |
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0.000 |
0.920 |
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Cash & Bank Balances |
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0.682 |
0.687 |
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0 |
Other Current Assets |
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0.140 |
0.017 |
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Loans & Advances |
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0.000 |
0.000 |
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Total
Current Assets |
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10.562 |
1.912 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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6.465 |
1.450 |
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Provisions |
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0.100 |
0.022 |
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Total
Current Liabilities |
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6.565 |
1.472 |
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Net Current Assets |
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3.996 |
1.439 |
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MISCELLANEOUS EXPENSES |
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0.006 |
0.013 |
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TOTAL |
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4.236 |
1.515 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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20.068 |
6.786 |
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Other Income |
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0.115 |
0.000 |
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Total Income |
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20.183 |
6.786 |
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Profit/(Loss) Before Tax |
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0.300 |
0.062 |
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Provision for Taxation |
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0.127 |
0.027 |
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Profit/(Loss) After Tax |
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0.173 |
0.035 |
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Expenditures : |
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Administrative Expenses |
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1.672 |
0.539 |
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Direct Expenses |
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0.174 |
0.457 |
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Financial Expenses |
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0.285 |
0.031 |
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Purchases made for re-sale |
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27.170 |
5.932 |
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Consumption of stores and spares parts |
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0.000 |
0.000 |
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Increase/(Decrease) in Finished Goods |
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(9.451) |
(0.243) |
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Depreciation & Amortization |
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0.031 |
0.006 |
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Total Expenditure |
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38.783 |
7.208 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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0.85
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0.51 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.49
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0.91 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.77
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3.13 |
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Return on Investment (ROI) (PBT/Networth) |
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0.13
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0.11 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.86
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2.70 |
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Current Ratio (Current Asset/Current Liability) |
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1.60
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1.29 |
LOCAL AGENCY
FURTHER INFORMATION
Subject
was incorporated on 21st October 2003.The registered office of the
company is located at 103, sector 14, Sonepat, Haryana.131001. This is also the
Corporate office of the company.
The Administrative office of the
Company is situated at 405, Amber tower AzadPur Commercial Complex, AzadPur,
Delhi-110033, Business will be taken care of from this office.
The main objects to be pursued by the company in brief are,
to trade in Agro commodities, metal and minerals, and general trading. The
company is currently engaged in trading in Agro Commodities where products were
supplied to companies working as whole sellers in Reputed mandis.
Mr. Shailendra Chauhan, the Managing Director comes with an engineering
background and is engaged in various businesses and has been very successful in
there ventures. Apart from business Mr. Shailendra Chauhan has been an active
social worker and has a good standing in the society and business circles. He
has held various positions socially in organizations doing social work and is
well respected.
Angaraka is a professionally managed organization. The
company has a financially sound and young team. The team has professionals like
Engineers, Chartered Accountants and such professionals who are go getters.
They have excellent contacts in India and abroad, in the business community and
government agencies and they are in a position to leverage our excellent
relations in a wide diaspora of society for the best possible results.
As the promoters of the company enjoy good reputation in the market and are
already in the trade from so many years there are ample opportunities of
success for the company.
PROMOTERS AND THEIR BACKGROUND :
It is a recognized fact that the good management can prove to be a good recipe
for the success of any good project. Mr. Shailendra Chauhan, who is the key
person behind the whole project have very rich experience in their fields. Mr.
Shailendra Chauhan is working in the field of trading in agro commodities for
the last ten years and is well respected in the business community. He has an
experience of many years in trading of commodities and especially trading in
Agro Commodities and have developed a good network of suppliers and a good
network for marketing the products in Delhi, Mumbai, Kolkata. He has a good
educational background and is qualified in Mechanical Engineering and has
earned his Diploma in Computer Software Operations.
CORPORATE OVERVIEW:
ANGARAKA is an Indian Company and is well respected in business circles,
dealing in agro commodities internationally. Agri-business is one key area the
company has identified to grow and sustain.
ANGARAKA provides farmers and end-users with a complete pipeline of products
and services and markets agricultural commodities domestically and
internationally.
Headquartered in Delhi, ANGARAKA provides fully integrated
grain, oilseeds, and special crops marketing and handling services through its
channel partners.
Mission Statement:
To provide innovative, relevant and profitable solutions to
farmers and end users through our expertise, customer focus and superior access
to markets.
To link farmers to domestic and international end-use
customers through our technology and commitment to quality.
Their Corporate Values:
Customer focus - providing solutions for farmers and
end-users, developing long-term relationships, delivering superior
recommendations and service, communicating effectively.
Integrity - being trustworthy and respectful of others, recognizing and
learning from their mistakes, being accountable for their decisions.
Professionalism - building on our knowledge and expertise, exercising good
judgment and insight with regard to business, working as a team.
Business leadership - cultivating a drive for excellence, setting aggressive
goals, empowering individuals to make decisions, seeking efficiency and
innovation, viewing change as an opportunity.
Leadership:
Business leadership is a core value at ANGARAKA. They set
aggressive goals and empower individuals to achieve them in their decisions.
They seek opportunities for innovation and efficiency. They view changes as an opportunity
and they cultivate a drive for excellence.
ANGARAKA puts this core value in action by linking
commercial farmers and end users, creating opportunities for commercial
success.
They offer commercial farmers an integrated, distinctive combination
of products and services. They also supply global end-users with desired
quality, competitive prices, and timely shipment of commodities and unique
crops.
They will achieve this while promoting employee challenge and satisfaction,
shareholder value, and sustainability.
their intent is to be the provider of choice.
Core Competencies / Expectations:
Integrity and Honesty: Demonstrating integrity, honesty,
ethical behavior and leadership in setting the "tone at the top" for
all company matters.
Knowledge and Strategic Thought:
Knowing and understanding the company, the industry in which
it operates, its strategic plan, its competition, its objectives, its critical
success factors, its legislative and legal framework, and its management.
Contributing to the strategic planning process and monitoring the
implementation of the company's strategic plan.
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 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 judgment 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.39.37 |
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UK Pound |
1 |
Rs.81.82 |
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Euro |
1 |
Rs.56.83 |
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 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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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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43 |
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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |