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MIRA
INFORM REPORT
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Report Date : |
30.10.2007 |
IDENTIFICATION DETAILS
|
Name : |
METAL POWER ANALYTICAL ( |
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Registered Office : |
C- 46, Raj Industrial
Complex, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
21.09.1990 |
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Com. Reg. No.: |
11-58251 |
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CIN No.: [Company
Identification No.] |
U51909MH1990PTC058251 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM08615F |
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PAN No.: [Permanent
Account No.] |
AACCM4836D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Analytical and Metallurgical Instruments. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 36628 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established and reputed company having satisfactory track records. Directors
are reported as experienced and respectable businessmen. Trade relations are
fair. Business is active. Payments are usually correct and as per
commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
C- 46, Raj Industrial Complex, |
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Tel. No.: |
91-22-29203753 / 29203756 / 29250321 / 29251399 / 28526281
/ 28526298 |
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Mobile No.: |
91-9324665560 / 9821231550 |
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Fax No.: |
91-22-29251373 |
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E-Mail : |
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Website : |
DIRECTORS
|
Name : |
Mr. Priyadarshan Divyadarshan Pant |
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Designation : |
Chairman and Managing Director |
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Address : |
11/10, Blossom Society, Marol, Andheri (East), Mumbai – 400 059, |
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Date of Birth/Age : |
26.07.1949 |
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Qualification : |
B. Tech (
I.I.T./ |
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Date of Appointment : |
21.09.1990 |
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Profile : |
He started Metal Power in 1987 to offer specialized
services to Engineering industries. Very soon he diversified the activities,
developing markets for special purpose machines and other high tech products,
including sophisticated Analytical and Metallurgical Instruments. |
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Name : |
Mr. Anant Vithal Kulkarni |
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Designation : |
Director |
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Address : |
304, B/2, Sai Ashish, |
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Date of Birth/Age : |
27.12.1948 |
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Qualification : |
B.E (Met/ Gold
Medalist) and M. Tech ( Physical Metallurgy) |
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Date of Appointment : |
21.09.1990 |
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Profile : |
He has wide ranging experience in Metallurgy, having worked
for over 18 years in various fields like wire drawing, forging, heat
treatment and process and quality control in Steel Plants, involving product
/ process development, quality up-gradation, customer service & failure
analysis. He is one of the founder directors of Metal Power Analytical (
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Name : |
Mr. Asit K Goswami |
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Designation : |
Director |
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Address : |
Swapnalaya, Pragathi Path, P O Kodali, District 24 Pargana, West
Bengal, |
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Date of Birth/Age : |
27.12.1948 |
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Date of Appointment : |
01.04.1993 |
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Date of Ceasing : |
01.04.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Ms. Divyadarshan Pant |
|
60 |
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Mr. Anant Vithal Kulkarni |
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10 |
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Mr. S. Ramchandran |
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24 |
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Mr. Shashank Hari Mandalik |
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14 |
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Ms. Meera Bharat Mullerpatia |
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14 |
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Ms. Swapna Harshad Priolkar |
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14 |
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Mr. Ashok Vaman Modak |
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14 |
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Mr. R. Parameshwaran |
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24 |
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Mr. N. Sampathkumar |
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20 |
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Mr. Haren Negandhai |
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14 |
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Mr. Priyadarshan Pant / Ms. Shobha Priyadarshan Pant |
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444 |
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Mr. Anant Vithal Kulkarni / Ms. Anuradha A. Kulkarni |
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644 |
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Master Mukund Pant / Mr Priyadarshan Pant |
|
200 |
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Total |
|
1496 |
Equity Shares Breakup (Percentage of Total Equity):
|
Names of Shareholders |
|
Percentage of
Holding |
|
Directors and Relatives of Directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Analytical and Metallurgical Instruments. |
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Products : |
* Spectrometers for Metals * Analytical Standards * Gas Analysis using QUAD 'MASS' SPECTROMETERS * Intelligent Gravimetric Analyzers * Moisture Sorption Analysis * Plasma Probes Analysis * Ion Miling Probes for Thin Film Etching * SIMS- Secondary Ion Mass Spectrometers * Hydrogen in Molten Aluminium * Microscopes * Metallurgical Image Analyzer * Metallography Sample Preparation Equipment * Portable Vickers Hardness Tester * Video Tracking System for Insects and Animals etc. * Temperature Monitoring System * Bomb Calorimeter *
3-in-1 Machine |
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Exports : |
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Countries : |
Middle East and |
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Imports : |
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Countries : |
Europe and |
GENERAL INFORMATION
|
Customers : |
* Akshay Metals
and Alloys * Alom Extrusions * Anant
Enterprises * Angel Extrusions
* Apar Limited * Asea Brown
Boveri Limited * Best Cast
Limited * Bharat Heavy
Electricals Limited * Brakes India
Limited * Endurance
Transmission Systems Private Limited * Enkei Castalloys
Limited * Exide Batteries
Limited * Garg Casteels
Private Limited * Geological and
Metallurgical Laboratories * Haryana
Autocastings Limited * Hindalco
Industries Limited * Hindustan
Powerplus Limited * Indian Aluminium
Company Limited * Indian Farmers Fertiliser
Co-operative Limited * Indian Institute
of Technology * Indira Gandhi
Centre for Atomic Research * Kalyani Brakes
Limited * Metallurgical
Laboratories Private Limited * Mukand Limited,
Kalwe * Om Corporation * Pooja Castings
Private Limited * Proton Steels
Limited * Ramkrishna
Forgings Limited * Rane Engine
Valves Limited * Regional Testing
Centre * Shiv Shakti
Aluminium * Small Industries
Service Institute * Steel Authority
of India Limited * Sumangalam
Aluminium * Sun Aluminium * Sundaram-Clayton
Limited * Suzuki
Motorcycle * Synergies-Dooray
Automotive Limited * Tata Steel
Limited * Tirupati
Aluminium Limited * Toyo Engineering
India Limited * Vikas Spectrolab * ZF Steering
Limited |
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No. of Employees : |
About 25 |
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Bankers : |
State
Bank of Marol Branch, Silver Arcade, Marol, Andheri (East), Mumbai
– 400 059, |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
J. J. Mehra and Associates Chartered Accountants |
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Address : |
11 Laxmi Building, Off |
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Memberships : |
·
·
Aluminium Association of ·
Engineering Export Promotion Council ·
National Small Industries Corporation ·
Indian Analytical Instruments
Association |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity Shares |
Rs. 500/- each |
Rs. 2.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1496 |
Equity Shares |
Rs. 500/-
each |
Rs. 0.748
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
|
0.748 |
0.748 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
8.409 |
6.064 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
9.157 |
6.812 |
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LOAN FUNDS |
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1] Secured Loans |
|
7.995 |
1.686 |
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2] Unsecured Loans |
|
1.985 |
0.685 |
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TOTAL BORROWING |
|
9.980 |
2.371 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
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19.137 |
9.183 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
12.613 |
6.575 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.616 |
0.471 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
6.746 |
2.803 |
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Sundry Debtors |
|
6.548 |
3.947 |
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Cash & Bank Balances |
|
0.267 |
1.528 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
4.857 |
2.444 |
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Total
Current Assets |
|
18.418 |
10.722 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
|
9.065 |
6.634 |
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Provisions |
|
3.568 |
2.138 |
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Total
Current Liabilities |
|
12.633 |
8.772 |
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Net Current Assets |
|
5.785 |
1.950 |
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MISCELLANEOUS EXPENSES |
|
0.123 |
0.187 |
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TOTAL |
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19.137 |
9.183 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
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Sales Turnover |
|
37.789 |
21.677 |
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Other Income |
|
0.000 |
0.000 |
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Total Income |
|
37.789 |
21.677 |
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Profit/(Loss) Before Tax |
|
4.053 |
2.194 |
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Provision for Taxation |
|
0.000 |
0.000 |
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Profit/(Loss) After Tax |
|
4.053 |
2.194 |
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Expenditures : |
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Depreciation |
|
1.629 |
1.112 |
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Other Expenditure |
|
32.107 |
18.371 |
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Total Expenditure |
|
33.736 |
19.483 |
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KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
10.72 |
10.12 |
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Net Profit Margin (PBT/Sales) |
(%) |
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10.72 |
10.12 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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13.06 |
12.68 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.44 |
0.32 |
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Debt Equity Ratio (Total Liability/Networth) |
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|
3.47 |
2.63 |
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Current Ratio (Current Asset/Current Liability) |
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|
1.45 |
1.22 |
LOCAL AGENCY FURTHER INFORMATION
|
Corporation identity number (CIN) or foreign company registrations number of the company |
U51909MH1990PTC058251 |
|
Name of the company |
METAL POWER ANALYTICAL ( |
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Address |
C-46, Raj Industrial Complex, |
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This Form is for |
Modification of charge |
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Type of Charges |
Immovable property |
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Particular of the charge holder |
State
Bank of Marol
Branch, Silver Arcade, Marol, Andheri (East), Mumbai – 400 059, |
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Nature or description of the instrument creating charge |
Supplemental agreement of loan-cum-hypothecation |
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Date of the instrument creating charge |
05.07.2007 |
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Amount Secure by the charge |
Rs. 16.400 millions |
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Modification charge Charge identification number of the charge to be modified |
10060818 |
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Date of instrument modifying the charge |
05.07.2007 |
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Particulars of the Property charged |
Extent of Bank charge by way of :
|
|
Particular of present modification |
Extent of Bank charge by way of :
Cash Credit facility Rs. 3.000 millions + additional facilities Rs. 3.000 millions = enhanced aggregate amount Rs. 6.000 millions. The total limit increased from Rs. 12.430 millions to Rs. 16.400 millions |
WEBSITE DETAILS:
Profile:
The company excels in offering high class service to engineering industries by manufacturing highly technical products and sophisticated analytical instruments. They work with the motive to manufacture high class products that are considered to be the best in the market. They focus on quality and reliability of each of service and take great care for before / after-sales service. Their working team is dedicated and committed to the customers and strive to lead the company to the greater heights of success.
Products
Metal Power manufacture / market Analytical and Metallurgical
Instruments. These include: Atomic(Optical) Emission Spectrometers; 3-in-1
Spectrometer Sample Preparation Machines; Analysers for Hydrogen content in
Molten Aluminium; Spectrometric Standards; Mass Spectrometers / Systems;
Metallurgical Image Analysers; Optical Microscopes of various kinds; Laboratory
Metallographic Sample Preparation Equipment, Portable NDT Metallography Kit –
MetKit; Portable Vickers Hardness Testers; etc.
* Hydrogen in Molten Aluminium
* Metallurgical Image Analyser
* Laboratory Metallographic Equipment
* Portable NDT Metallography Kit
* Portable Vickers Hardness Tester
* Gas Analysis using QUAD 'MASS' SPECTROMETERS
* Intelligent Gravimetric Analysers
* SIMS- (Secondary Ion Mass Spectrometers)
* Ion Miling Probes for Thin Film Etching
* Professional software & Instrumentation for behavioral studies
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.38 |
|
|
1 |
Rs.80.96 |
|
Euro |
1 |
Rs.56.81 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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 |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|