MIRA
INFORM REPORT
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Report Date : |
12.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
SPEED O GRAPHICS [INDIA] PRIVATE LIMITED |
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Registered Office : |
167/37/1, 2nd Main Road, Industrial Town, Rajajinagar, Bangalore 560044, Karnataka 560044 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
05.10.2000 |
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Com. Reg. No.: |
08-27912 |
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CIN No.: [Company
Identification No.] |
U74999KA2000PLC027912 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRS01867F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing of Industrial Components and for High Precision Heavy Engineering
Jobs. |
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 77000 |
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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. 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 : |
167/37/1, 2nd Main Road, Industrial Town, Rajajinagar, Bangalore 560044, Karnataka 560044, India |
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Tel. No.: |
91-80-23306331 / 23355752 |
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Fax No.: |
91-80-23355752 |
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E-Mail : |
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Website : |
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Factory : |
No. 34/23, 2nd Main Road, Industrial Town, Rajajinagar,
Bangalore 560044, Karnataka 560044, India |
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Tel. No.: |
91-80-23306331 |
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Fax No.: |
91-80-23306331 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. P. R. Srinivas |
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Designation : |
Managing Director |
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Address : |
112, VI Main Road, Magadi Road, Chord Road, Vijay Nagar, Bangalore
560040, Karnataka, India |
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Date of Birth/Age : |
29.01.1950 |
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Date of Appointment : |
05.10.2000 |
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Name : |
Mrs. Sunanda |
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Designation : |
Director |
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Address : |
112, VI Main Road, Magadi Road, Chord Road, Vijay Nagar, Bangalore
560040, Karnataka, India |
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Date of Birth/Age : |
06.05.1955 |
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Date of Appointment : |
05.10.2000 |
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Name : |
Mr. M Ramaiah |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. Parameshwar G Hegde |
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Designation : |
Company Secretary |
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Address : |
Ganesha Krupa, 34, 1st main Road, Gandhinagar, Bangalore
560009, Karnataka, India |
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Date of Birth/Age : |
91-80-22267041, [Res.] 26589597 |
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Qualification : |
91-80-22204068 |
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Experience : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. M. Ramaiah |
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12000 |
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Mr. P. R. Srinivas |
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12000 |
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Mrs. Sunanda |
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6000 |
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Mrs. Venkatamma |
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100 |
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Mr. P. R. Krishnappa |
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100 |
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Mrs. Uma |
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100 |
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Ms. Tara L. Salunke |
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50 |
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Equity Share
Breakup |
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Category |
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Percentage of
Holding |
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Bodies corporate |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Industrial Components and for High Precision Heavy
Engineering Jobs. |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
State Bank of
India, Bangalore City Branch, J. C. Road, Bangalore |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Rao and Swami Chartered Accountants |
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Address : |
2/1 Connught Road, Bangalore 560052, Karnataka, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up 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 |
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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5.000 |
5.000 |
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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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14.151 |
14.381 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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19.151 |
19.381 |
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LOAN FUNDS |
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1] Secured Loans |
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4.876 |
3.004 |
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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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4.876 |
3.004 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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24.027 |
22.385 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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36.881 |
38.447 |
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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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2.764 |
3.434 |
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Sundry Debtors |
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2.765 |
1.936 |
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Cash & Bank Balances |
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0.192 |
0.435 |
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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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4.008 |
2.698 |
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Total
Current Assets |
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9.729 |
8.503 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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21.947 |
24.225 |
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Provisions |
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0.636 |
0.340 |
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Total
Current Liabilities |
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22.583 |
24.565 |
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Net Current Assets |
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[12.854] |
[16.062] |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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24.027 |
22.385 |
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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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7.935 |
9.249 |
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Total Income |
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7.935 |
9.249 |
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Profit/(Loss) Before Tax |
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0.522 |
NA |
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Provision for Taxation |
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0.000 |
NA |
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Profit/(Loss) After Tax |
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0.522 |
NA |
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Expenditures : |
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Total Expenditure |
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7.413 |
NA
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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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6.58 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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6.58 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.12 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.03 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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1.43 |
1.42 |
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Current Ratio (Current Asset/Current Liability) |
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0.43 |
0.35 |
LOCAL AGENCY FURTHER
INFORMATION
Bankers Charges
Report as per Registry
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Name of the company |
SPEED O
GRAPHICS [INDIA] PRIVATE LIMITED 167/37/1, 2nd
Main Road, Industrial Town, Bangalore, Karnataka - 560044 Bangalore |
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Presented By |
STATE BANK OF INDIA, BANGALORE CITY
BRANCH, BANGALORE AND SPEED O
GRAPHICS [INDIA] PRIVATE LIMITED |
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1) Date and description of instrument creating the change |
Dated 05.10.2000 Agreement of
Hypothecation of goods and assets dated 07.04.2000 Letter regarding
the grant of individual limits within the partnership firm converted into a
company under IX of company act 1956 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.300
millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
all present and future goods, book debt and all other movable assets of the
borrower including receivables by way of cash assistance and cash scheme,
claims including claims by way of refund of customs / excise duties under the
duty draw back credit scheme or any other scheme, bills, invoices, documents,
contracts, insurance polices, guarantees, engagements, securities,
investments policies, guarantees, engagement, securities, investments and
rights and present machinery listed in the schedule hereunto and all future
machinery belonging to or in the possession or under the control of the
borrower wherever lying, stored and kept and whether in possession of the
borrower or of the bank or of any third party whether in India or elsewhere
through out the world including all such goods, other movable assets as may
be in course of shipment, transit or delivery, by way of first charge. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest
: 15.3 % p.a. with quarterly rests Margin : 25 % in
all cases Repayment : on
Demand |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of
India Bangalore City
Branch J. C. road Bangalore |
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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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AS PER WEBSITE
Profile
Subject is
manufacturers of Single colour sheet fed offset printing machines and CNC programmable
paper cutting machine.
In the field of printing technology, meet someone who has made a mark so
sharp and deep and distinct, that it has passed the test of time. With flying
colours.
The company now looks forward to forge long-term technical tie-ups with
leaders in the field to explore emerging frontiers of printing technology.
Activities
- Machined Components Medium and Heavy for Exports and all leading
Industries in South India
- Manufacturers of CNC Paper Cutting Machines and Printing Machines
- Surface Grinding of Heavy Components
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.28 |
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UK Pound |
1 |
Rs.80.87 |
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Euro |
1 |
Rs.57.68 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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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45 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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