MIRA
INFORM REPORT
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Report Date : |
03.10.2007 |
IDENTIFICATION DETAILS
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Name : |
PINNACLE HI-TECH TRADE PRIVATE LIMITED |
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Registered Office : |
Chandan ‘C’
Apartments, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
25.05.2005 |
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Com. Reg. No.: |
11-153496 |
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CIN No.: [Company
Identification No.] |
U51500MH2005PTC153496 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Traders of
Industrial Spare Parts and Engineering Goods. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 400 |
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Status : |
New Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and yet to establish it self. The company has shown satisfactory results during the first year of its operations. Payments are reported as usually correct and as per commitments. The company can be considered for small business dealings at usual trade terms and conditions |
LOCATIONS
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Registered Office/ Head Office: |
Flat No. 10, Chandan C Apartment, Rana Nagar, Jalna Road, Aurangabad-431005, Maharashtra |
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Tel. No.: |
91-240-2441043 |
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Mobile No.: |
91-9325220464 |
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Fax No.: |
91-240-2451621 |
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Email: |
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Area: |
1500 sq.ft. |
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Location: |
Rented |
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Factory: |
Villa Satara, Beel by pass road, Near Renuka Mata Mandir, Abad. |
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Tel. No.: |
91-240-3098310 |
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Area: |
2000 sq.ft. |
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Location: |
Rented |
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Factory: |
Plot No. 499, Priya Villa, First Floor, Kodtri Chowle, |
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Tel. No.: |
91-712-3953476 |
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Area: |
1500 sq.ft. |
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Location: |
Rented |
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Branch: |
Plot No. 499, Priya Villa, First Floor, Ashok Battery, Kabdi Chowk, Mental Hospital Road, Nagpur – 440 009 |
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Tel. No.: |
91-712-3953476 |
DIRECTORS
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Name : |
Mr. Shrikrishna Devidas Choudhary |
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Designation : |
Director |
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Address : |
Flat No. 15, Chandan-A Apartment, Rana Nagar, |
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Date of
Birth/Age : |
42 Years |
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Qualification
: |
B.E. (Production) |
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Experience : |
19 Years |
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Name : |
Mrs. Nayana Choudhary |
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Designation : |
Director |
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Address : |
Flat No. 15, Chandan-A Apartment, Rana Nagar, |
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Date of
Birth/Age : |
36 Years |
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Qualification
: |
B.Com |
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Experience : |
11 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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S.D. Choudhary |
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5000 |
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N.S. Choudhary |
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5000 |
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TOTAL: |
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10000 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Traders of Industrial
Spare Parts and Engineering Goods. |
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Products : |
Engineering goods & Automatic machines |
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Agencies Held : |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Credit (45 Days) |
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Purchasing : |
Credit (30 Days) |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers, End Users, OEM’s |
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No. of Employees : |
22 |
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Bankers : |
Oriental Bank of
Commerce |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Singh Mundada and Company Chartered Accountant |
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Address : |
414, |
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Tel. No.: |
91-420-2357851 |
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Associates : |
Well Track Traders |
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Subsidiaries : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,000 |
Equity Shares |
Rs. 10/- 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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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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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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.100 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.004 |
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TOTAL BORROWING |
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0.004 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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0.104 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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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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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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0.071 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.000 |
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Total
Current Assets |
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0.071 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.002 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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0.002 |
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Net Current Assets |
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0.069 |
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MISCELLANEOUS EXPENSES |
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0.035 |
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TOTAL |
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0.104 |
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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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0.06 |
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Current Ratio (Current Asset/Current Liability) |
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35.50 |
UDAY HOSE
CRIMPER
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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1.034 |
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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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0.447 |
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4] (Accumulated
Losses) |
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0.000 |
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NETWORTH |
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1.481 |
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LOAN FUNDS |
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1] Secured Loans |
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1.038 |
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2] Term Loans |
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0.383 |
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TOTAL BORROWING |
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1.421 |
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DEFERRED TAX
LIABILITIES |
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0.000 |
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TOTAL |
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2.902 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.733 |
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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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1.646 |
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Sundry Debtors |
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2.485 |
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Cash & Bank Balances |
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0.001 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.000 |
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Total Current Assets |
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4.132 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.844 |
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Provisions |
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0.124 |
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Total Current Liabilities |
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1.968 |
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Net Current Assets |
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2.164 |
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MISCELLANEOUS EXPENSES |
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0.005 |
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TOTAL |
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2.902 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover [including other income] |
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10.599 |
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Profit/(Loss)
Before Tax |
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0.447 |
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Provision for
Taxation |
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0.000 |
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Profit/(Loss)
After Tax |
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0.447 |
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Total Expenditure |
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11.550 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
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PAT / Total Income |
(%) |
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4.22 |
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Net Profit Margin (PBT/Sales) |
(%) |
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4.22 |
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Return on Total
Assets (PBT/Total Assets} |
(%) |
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9.19 |
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Return on
Investment (ROI) (PBT/Networth) |
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0.30 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.29 |
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Current Ratio (Current
Asset/Current Liability) |
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2.10 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
One of the old firm M/S Pinnade Monlecity merging in to M/s Pinnade Hi – Tech Trade Private Limited.
BUSINESS MAIN OBJECT:
To carry on in India or elsewhere the business in Marketing of Industrial Spares parts Engineering goods, dealing in any automatic machine required to industries, hose pines, and developers, buyers, sellers, hires, sub sellers, market, repairers, exporters, importers, distributors, and to act as agent, representative, correspondent, franchiser, stockiest, supplier, vendor, transporter, collaborator, export house of otherwise to deal in all its branches in automatic, semi automatic, manual & equipments, including lathes, turrelathes, capstan lathes, engine lathes, drills, drilling machines, grinding machines, slotting machines, broaching machines, boring machines, hobbling machines, coning machines, lapping machines, punching machines whether used for special operations or for general operations and whether operated on human, electrical, magnetic, electromagnetic, chemical, electro chemical, photo chemical, solar, tidal wind, nuclear, thermal, thermonuclear or other form of energy and their parts, product, components, instruments, raw materials, display circuits, micro circuits, used in machine tools, including boubles, bars, slices, round, wafers, solid, which may be polished, processed, coated, fused, diffused replacement parts, spare parts, substances, equipments, structures, moulds, tankers, buses, cycles, cars, ambulance, tempos, tractors, two wheelers, three wheelers, vans, jeep, omnibuses, and all type of vehicle
TRADE REFERENCES:
v
M/S Festo
Controls Private Limited , Add:
v
M/S
Boonfigilioli Transmission Private Limited, Add; Skod Industry area, Chennai –
Mr. Ravi
v
M/S
Gates India Private Limited, Add: Pooja Haiya Ltisra - Mr. Shetty.
Bankers Charges
Report as per Registry
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Corporate
identity number of the company |
U51500MH2005PTC153496 |
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Name of the
company |
PINNACLE HI-TECH TRADE PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
Chandan ‘C’
Apartments, |
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This form is for |
Creation of charge |
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Type of charge |
Hypothecation
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Particular of
charge holder |
Oriental Bank of
Commerce |
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Nature of
instrument creating charge |
Bank Guarantee |
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Date of instrument
Creating the charge |
27.07.2006 |
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Amount secured by
the charge |
Rs. 1.000 Million
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Brief of the
principal terms an conditions and extent and operation of the charge |
Terms and
Conditions as per decided by Bank time t time. |
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Description of
the property charged indicating whether it is a charged on |
Stock in trade |
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Particulars of
the property charged |
Goods procured
under Bank Guarantee |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.73 |
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1 |
Rs.81.37 |
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Euro |
1 |
Rs.56.63 |
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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