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MIRA
INFORM REPORT
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Report Date : |
22.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
AUTOPRESS (INDIA) PRIVATE LIMITED |
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Registered Office : |
Gat No.322 (New) Pirangut Village, Taluka Mulshi, Pune – 412111, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
28.02.1991 |
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Com. Reg. No.: |
11-060557 |
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CIN No.: [Company
Identification No.] |
U27320MH1991PTC060557 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEA04946E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Steel Utensils and Aluminium Utensils. |
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 18000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Financial position is satisfactory. Payments are
reported as slow but correct. The company can be considered normal for business dealings at usual
trade terms and conditions. Management remained non-cooperative during current investigation. |
LOCATIONS
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Registered Office/ Factory: |
Gat No.322 (New) Pirangut Village, Taluka Mulshi, Pune – 412111,
Maharashtra, India |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Rajiv Suraj Agarwal |
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Designation : |
Whole Time Director |
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Address : |
6 Yeshwant Nagar, Ganeshind Road, Pune – 411007, Maharashtra, India |
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Date of Birth/Age : |
07.01.1957 |
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Date of Appointment : |
01.10.1997 |
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Name : |
Mrs. Anita Rajiv Agarwal |
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Designation : |
Director |
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Address : |
6 Yeshwant Nagar, Ganeshind Road, Pune – 411007, Maharashtra, India |
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Date of Birth/Age : |
08.10.1960 |
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Date of Appointment : |
28.02.1991 |
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Name : |
Mr. Dhruv Rajiv Agarwal |
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Designation : |
Director |
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Address : |
6 Yeshwant Nagar, Ganeshind Road, Pune – 411007, Maharashtra, India |
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Date of Birth/Age : |
03.03.1986 |
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Date of Appointment : |
01.04.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 27.07.2005)
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Names of Shareholders |
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No. of Shares |
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Mr. Rajiv Suraj Agarwal |
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4000 |
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Mr. Suraj Shyamlal Agarwal |
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2200 |
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Mrs. Anita Rajiv Agarwal |
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300 |
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Total |
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6500 |
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Steel Utensils and Aluminium Utensils. |
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Products : |
· Steel Utensils · Aluminium
Utensils |
GENERAL
INFORMATION
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No. of Employees : |
20 |
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Bankers : |
· The Saraswat
Co-operative Bank Limited F C Road Branch, Pune – 411004, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Bal Bathia and Company Chartered Accountant |
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Address : |
1 Poonam Arcade, 1170/11 Shivaji Nagar, Pune – 411005, Maharashtra,
India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Share |
Rs.100/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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6500 |
Equity Share |
Rs.100/-
each |
Rs.0.650
Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.650 |
0.650 |
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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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3.871 |
3.736 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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4.521 |
4.386 |
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LOAN FUNDS |
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1] Secured Loans |
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3.736 |
6.259 |
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2] Unsecured Loans |
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0.725 |
0.725 |
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TOTAL BORROWING |
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4.461 |
6.984 |
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DEFERRED TAX LIABILITIES |
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0.323 |
0.327 |
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TOTAL |
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9.305 |
11.697 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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5.901 |
6.644 |
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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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0.025 |
0.025 |
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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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2.215 |
2.801 |
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Sundry Debtors |
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3.337 |
4.949 |
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Cash & Bank Balances |
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0.288 |
0.487 |
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Other Current Assets |
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1.103 |
1.008 |
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Loans & Advances |
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0.347 |
0.269 |
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Total
Current Assets |
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7.290 |
9.514 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.255 |
4.486 |
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Provisions |
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0.656 |
0.000 |
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Total
Current Liabilities |
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3.911 |
4.486 |
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Net Current Assets |
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3.379 |
5.028 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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9.305 |
11.697 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover (estimated) |
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24.068 |
21.165 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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24.068 |
21.165 |
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Profit/(Loss) Before Tax |
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0.408 |
1.143 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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0.408 |
1.143 |
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Total Expenditure |
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23.660 |
20.022 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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1.69 |
5.40 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.69 |
5.40 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.03 |
0.07 |
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Return on Investment (ROI) (PBT/Networth) |
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0.09 |
0.26 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.85 |
2.61 |
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Current Ratio (Current Asset/Current Liability) |
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1.86 |
2.12 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
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Name of the company |
AUTOPRESS (INDIA) PRIVATE LIMITED |
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Presented By |
The Saraswat Co-operative Bank Limited |
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1) Date and description of instrument creating the change |
Agreement of
Hypothecation of Movable Property Dated 15th June, 2005. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.2.100 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 |
The borrower doth
hereby hypothecation to and in favour of the bank all stock, tangible movable
property including stock, work in progress belonging to the borrower and
lying at borrower/s place of business, machinery and electrical installation
lying at borrower/s place of business at Gat No.322 (New), Pirangut Village,
Mulshi, District, Pune The borrower doth
do hereby hypothecation to and in favour of the bank all the outstanding Book
Debts, Moneys receivable, claims and approved Book Debts, due to the
borrower/s and bill which are now owing or which may at any time hereafter
during the continuance of this security become due and owing. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Type of facility:
Term Loan Rate of
Interests:@11.50% p.a. or at such other rate as may be fixed by the Bank from
time to time. Repayment: 60 monthly
installment of Rs.0.035 Million Margin:
Hypothecation of Machinery and electrical installation 25% |
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5) Name and Address and description of the person entitled to the charge. |
The Saraswat Co-operative Bank Limited Somwar Peth
Branch, Pune, Maharashtra, India |
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6) Date and brief description of instrument modifying the charge |
NA |
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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. |
NA |
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Corporate
identity number (CIN) Foreign company registration number |
U27320MH1991PTC060557 |
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Name of the
Company |
AUTOPRESS (INDIA) PRIVATE LIMITED |
|
Address |
Gat No.322 (New) Pirangut Village, Taluka Mulshi, Pune – 412111,
Maharashtra, India |
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This form is for |
Creation of
Charge |
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Type of Charge |
Vehicles |
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Particulars of
the charge holder |
The Saraswat Co-operative Bank Limited F C Road Branch, Pune – 411004, Maharashtra, India |
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Nature or
description of the instrument(s) creating or modifying the charge |
Agreement of
Hypothecation of Vehicle Dated 31st December, 2007 Agreement of
Hypothecation of Vehicle Dated 31st December, 2007 (both these two
documents creative a single charge) |
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Date of the
instrument creating or modifying the charge |
21.12.2007 |
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Amount secured by
the charge |
Rs.0.430 Million |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of
Interests: At 10.50% p.a.
fixed with monthly rests or at such rate as may be prescribed in future by
the Bank from time to time. Term of
Repayment: 60 monthly
installments of Rs.0.005 Million each (for one car) Margin: 15% Extent and
operation of the charge: Type of facility:
Vehicle Loan Others: As per Terms and
Conditions. |
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Short particulars
of the property charged (including location of the property) |
The Borrower doth
do hereby hypothecation to and in favour of the bank 2 Maruti 800 AC Car
Registered with the RTO Pune. |
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Particular of the
present modification |
NA |
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.39.89 |
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UK Pound |
1 |
Rs.79.65 |
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Euro |
1 |
Rs.63.06 |
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 SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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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