MIRA
INFORM REPORT
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Report Date : |
02.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
VINTECH ELECTRONICS SYSTEMS PRIVATE LIMITED |
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Registered Office : |
15A, Vrindavan No.2, Co-operative Society, Pashan, Pune – 411 008,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
01.04.2004 |
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Com. Reg. No.: |
25 -19076 |
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CIN No.: [Company
Identification No.] |
U72200PN2004PTC019076 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEV04175D |
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PAN No.: [Permanent
Account No.] |
PANAPPLIED |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Hardware, System Design and Analysis , Development of
Software, Programming, Graphics, Installation, etc |
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 10952 |
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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 : |
Subject is a well - established company having satisfactory track.
Trade relations are fair. Financial position is good. Payment are usually
correct and as per commitments. The company can be considered good for normal business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
15A, Vrindavan No.2, Co-operative Society, Pashan – 411 008,
Maharashtra |
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Tel. No.: |
91-20-25425814 / 25466233 / 25666234 / 25666235 |
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Mobile: |
91-9822392901 |
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Fax No: |
91-20-25666235 |
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E-Mail : |
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Website : |
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Corporate Office : |
Flat No. 1-A2, Ushahkal,
Shree Prajakta Co-Operative Society, Deep Bunglow Chowk, Model Colony, Pune –
411 016, Maharashtra |
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Mobile No: |
91-20-2566 6233 / 34 /35 |
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Fax No.: |
91-9881724171 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Rajeev Sheshrao Patayeet |
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Designation : |
Director |
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Address : |
15A, Vrindavan No.2, Co-operative Society, Pashan – 411 008,
Maharashtra |
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Date of Appointment : |
01.04.2004 |
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Name : |
Mr. Chintamani Syamrao Lele |
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Designation : |
Director |
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Address : |
7, Amod Vihar, 48, Gujarat colony, Kothrud, Pune – 411 038,
Maharashtra |
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Date of Appointment : |
01.04.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Rajeev Sheshrao Patayeet |
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500 |
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Mr. Chintamnai Shyamrao Lele |
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500 |
Equity Shares Breakup (Percentage of Total Equity):
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Sr No. |
Category |
Percentage |
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1 |
Directors or relative of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Hardware, System Design and Analysis , Development of
Software, Programming, Graphics, Installation, etc |
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Products : |
Hardware · Business PCs · Business Notebooks · Handheld , PDAs and Smart Phones · Workstations · Servers · Imaging and printing Products · Networking · Power Protection Products · Storage · Genuine Accessories and options Software · Microsoft OEM Products · Microsoft Volume Licensing · Antivirus · HP Software |
GENERAL
INFORMATION
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Customers : |
· Atlas Copco · Sandvik Asia · Forbes Marshall · Tata Motors · Tata Technologies · Bajaj auto Finance · PTC · UGS · Geometric Software · Kalyani Brakes · Kirloskar Brothers · Kirlosksar Pneumatic · ITS Solutions · Cummins Diesel · Finolex Industries · Auto Cluster · Seed Infotech · MIT · Symbiosis · D.I.A.T |
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No. of Employees : |
20 |
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Bankers : |
· The Cosmos Co-operative Bank Limited Address: 260/270,
Shaniwar Peth, Pune – Kothrud Branch, Pune – 411 030, Maharashtra Email: bmacosec@eth.net ·
ICICI Bank Limited |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Satish Dongre and Associates Chartered Accountants |
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Address : |
Office No. 12 Laxmi Nagar Commercial Complex Phase II, Laxmi Nagar, Parvati,
Pune – 411 009, Maharashtra |
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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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10000 |
Equity shares |
Rs.100/- each |
Rs. 1.000 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000 |
Equity shares |
Rs.100/-
each |
Rs. 0.100
million |
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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0.100 |
0.100 |
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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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2.638 |
1.174 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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2.738 |
1.274 |
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LOAN FUNDS |
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1] Secured Loans |
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5.143 |
4.621 |
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2] Unsecured Loans |
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0.000 |
1.085 |
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TOTAL BORROWING |
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5.143 |
5.706 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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7.881 |
6.980 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.262 |
1.495 |
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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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0.041 |
0.040 |
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DEFERREX TAX ASSETS |
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0.000 |
0.015 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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3.747 |
0.729 |
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Sundry Debtors |
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4.881 |
6.185 |
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Cash & Bank Balances |
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0.102 |
0.765 |
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Other Current Assets |
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7.122 |
3.632 |
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Loans & Advances |
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0.040 |
0.026 |
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Total
Current Assets |
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15.892 |
11.337 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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6.563 |
4.880 |
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Provisions |
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2.751 |
1.027 |
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Total
Current Liabilities |
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9.314 |
5.907 |
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Net Current Assets |
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6.578 |
5.430 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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7.881 |
6.980 |
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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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123.770 |
60.204 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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123.770 |
60.204 |
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Profit/(Loss) Before Tax |
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2.206 |
1.805 |
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Provision for Taxation |
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0.743 |
0.630 |
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Profit/(Loss) After Tax |
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1.463 |
1.175 |
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Total Expenditure |
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121.564 |
58.399 |
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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1.18 |
1.95 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.78 |
2.99 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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12.85 |
14.06 |
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Return on Investment (ROI) (PBT/Networth) |
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0.80 |
1.41 |
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Debt Equity Ratio (Total Liability/Networth) |
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5.28 |
9.11 |
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Current Ratio (Current Asset/Current Liability) |
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1.70 |
1.91 |
LOCAL AGENCY FURTHER
INFORMATION
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Corporation identity number or foreign company registrations number of
the company |
U72200PN2004PTC019076 |
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Name of the company |
VINTECH ELECTRONICS SYSTEMS PRIVATE
LIMITED |
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Address |
15A, Vrindavan No.2, Co-operative Society, Pashan – 411 008,
Maharashtra |
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This Form is for |
Creation of charge |
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Type of Charges |
Hypothecation |
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Particular of the charge holder
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The Cosmos Co-operative Bank Limited Address: 260/270, Shaniwar Peth, Pune –
Kothrud Branch, Pune – 411 030, Maharashtra Email: bmacosec@eth.net |
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Nature or description of the instrument creating charge |
Hypothecation of tangible good / movable
property |
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Date of the instrument creating charge |
14.08.2006 |
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Amount Secure by the charge |
Rs. 1.000 million |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of interests : 11.5%p.a |
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Description of the property charge whether it is a charge on |
Immovable properties Book debts Stock in Trade |
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Particulars of the Property charged
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Stock
and debtors at (i) 86, Natraj Society, karve Nagar, Pune – 400 052 (ii) S. No. 25/1/14 Tathawade Mulshi, Pune
or Wherever else 2)
Collateral Security – Flat No. A1 and A 2, Usha Building, Shivaji
Nagar, Prajakta Society Pune more Particularly described in the schedule to
the hypothecation agreement , Pune more particularly described in the
schedule to the hypothecation agreement. |
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Name of the
company |
VINTECH ELECTRONICS SYSTEMS PRIVATE
LIMITED |
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Presented
By |
The Cosmos Co-operative Bank Limited 269/270,
Shaniwar Peth, Pune – 411 030 |
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1) Date and
description of instrument creating the change |
Date : 31.03.2005 Description :
Hypothecation of Tangible goods / Movable Property |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 1.500
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 |
Stocks and
debtors |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
1) Rate of interest : 11%p.sa 2) Collateral Security of plot No. 15A,
Pushkar, Vrindavan Society, A and B Position Pune. |
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5) Name and
Address and description of the person entitled to the charge. |
The Cosmos Co-operative Bank Limited 269 /270, Shaniwar Peth, Pune – 411 030 |
WEBSITE DETAILS:
A Young Company focused on IT Hardware, System Integration and Office Automation Solutions Enthusiastic Team of Qualified and Experienced Professionals Committed to Enhance Total Customer Experience
Vision
To make Vintech a renowned system Integrator in the using latest technology. Latest Products, implementation, and excellent business practices sand ethics, to deliver to its customer.
HP PARTNERSHIP
·
HP Premier
Business partner
For overall HP commercial
IT products
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HP Workstation
Solutions Partner
Specialised fro
promoting hp workstations
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HP Mobile Moghul
Partner
Specialised for
promoting hp commercial notebooks
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Hp Procurve
Premier Partner
Specialised for
building hp procurve networking solutions
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HP PC Club
Partner
Specialised for hp
business PC business
OTHER PARTNERSHIPS
Sharp premium channel Partner for Sharp
Photocopiers and multimedia projectors
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Microsoft OEM
system Builder
For Microsoft OEM
Licenses, Volume Licenses
SERVICE PARTNERSHIPS
·
HP Authorised
Service Delivery Partner
For providing
onsite services foe all hp IT Product
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Hp Authorised
Service Centre
For providing
services for return to bench products
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
|
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
--- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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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54 |
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 |
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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 |
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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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