MIRA
INFORM REPORT
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Report Date : |
06.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
CARRARO PNH COMPONENTS [INDIA] PRIVATE LIMITED |
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Registered Office : |
Bhaishanker Kanga and Girdharlal Manekji Wadia, Building 3rd
Floor, N M Marg, Fort, Mumbai – 400023, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
19.06.1998 |
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Com. Reg. No.: |
11-115428 |
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CIN No.: [Company
Identification No.] |
U28900MH1998PTC115428 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of power
transmission systems |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 43000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
The company has not done any business in 2006-07 and 2005-06. Management remained non – cooperative and denied financial and
business details. No payment are available. The company can be considered for small business dealings on safe and
secured trade terms and conditions. |
LOCATIONS
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Registered Office : |
Bhaishanker Kanga and Girdharlal Manekji Wadia, Building 3rd
Floor, N M Marg, Fort, Mumbai – 400023, Maharashtra, India |
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Tel. No.: |
91-22-22670404 |
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E-Mail : |
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Factory : |
B 2/2, MIDC Industrial Area, Ranjangaon, Pune – 412210, Maharashtra,
India |
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Tel. No.: |
91-2138-232101 |
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Fax No.: |
91-2138-232136 |
DIRECTORS
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Name : |
Mr. Shobhan Madhukant Thakore |
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Designation : |
Director |
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Date of Birth/Age : |
03.07.1947 |
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Date of Appointment : |
19.06.1998 |
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Name : |
Mr. Tushar Rajendra Desai |
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Designation : |
Director |
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Address : |
5/3, Pushpak Apartments, 31, Altamount Road, Mumbai – 400026, Maharashtra,
India |
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Date of Birth/Age : |
14.08.1947 |
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Date of Appointment : |
19.06.1998 |
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Date of Ceasing : |
18.11.2006 |
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Name : |
Mr. Enrico Gomiero |
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Designation : |
Director |
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Date of Appointment : |
19.06.1998 |
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Name : |
Mr. Luigino Lino Ricetto |
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Designation : |
Director |
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Address : |
7, Via Filanda Vecchia, Spilimbergo PN |
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Date of Birth/Age : |
18.04.1952 |
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Date of Appointment : |
18.11.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 28.09.2004
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Names of Shareholders |
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No. of Shares |
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Shobhan Madhukant Thakore |
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10 |
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Tushar Rajendra Desai |
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10 |
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Carraro India Limited |
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1000000 |
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Total |
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1000020 |
AS ON 29.09.2007
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Equity Share Breakup
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Percentage of
Holding |
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Category |
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Bodies corporate |
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99.99 |
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Directors or relatives of directors |
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0.01 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of power transmission
systems |
GENERAL
INFORMATION
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Bankers : |
Not Available |
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Auditors : |
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Name : |
S. R. Batliboi and Company Chartered Accountants |
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Address : |
C – 401, 4th Floor, Panchshil Tech Park, Yerwada, Pune – 411006,
Maharashtra, India |
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Parent Company : |
Carraro [India]
Limited Address : Plant B2/2, MIDC Ranjangaon, Pune, Nagar Road Tel No.: 91-20-2138232188 / 2138232191 / 2138232102 / 2138232103 /
213823210 Fax No.: 91-20-21382321365 Email : info@carraro.com Website : http://www.carraro.com
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CAPITAL STRUCTURE
AS ON 29.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1001000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.010 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000020 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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10.000 |
10.000 |
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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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0.000 |
0.000 |
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4] (Accumulated Losses) |
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[1.460] |
[1.226] |
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NETWORTH |
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8.540 |
8.774 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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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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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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8.540 |
8.774 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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8.636 |
8.736 |
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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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0.000 |
0.000 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances |
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0.283 |
0.283 |
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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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0.000 |
0.000 |
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Total
Current Assets |
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0.283 |
0.283 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.379 |
0.245 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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0.379 |
0.245 |
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Net Current Assets |
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[0.096] |
0.038 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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8.540 |
8.774 |
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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 |
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0.000 |
0.000 |
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Total Income |
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0.000 |
0.000 |
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Profit/(Loss) Before Tax |
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[0.235] |
[0.201] |
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Provision for Taxation |
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-- |
-- |
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Profit/(Loss) After Tax |
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[0.235] |
[0.201] |
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Expenditures : |
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Depreciation & Amortization |
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0.100 |
0.100 |
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Other Expenditure |
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0.135 |
0.135 |
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Total Expenditure |
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0.235 |
0.235 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.63 |
2.23 |
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Return on Investment (ROI) (PBT/Networth) |
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0.03 |
0.03 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.04 |
0.02 |
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Current Ratio (Current Asset/Current Liability) |
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0.75 |
1.16 |
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
Profile
Carraro is a multinational global leader in the production of
power transmission systems with plants in Italy, Germany, Poland, the United
States, Argentina, India and China.
Today’s size
18 factories, over 4,000 employees, turnover of around 800
million Euros – these are the results of a journey which story that started at
the beginning of the last century and has continuously evolved continually
because of a marked entrepreneurial spirit, a particulareculiar ability to
adapt and a strong creative spirit.
Born as a manufacturing company
focused on the production of sowing machines and agricultural
tools, the company soon broadened its horizons gaining notoriety as a tractor
manufacturer. From the Seventies onwards Carraro has concentrated its “Core
Business” elsewhere, specializing in components and becoming a leading global
manufacturer of transmission systems for agricultural and earth-moving
machines.
And today
axles and transmissions still make up most of the Group’s
turnover whicht is always evolving looking in search of for solutions with higher
added value. Pure mechanics intregrates with electronics towards mechatronics.
Thanks to consolidated skills
strategic productive relocation, today Carraro can
effectively meet the requirements of its customers with whom it establishes
lasting partnerships.
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 |
|
US Dollar |
1 |
Rs.42.28 |
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UK Pound |
1 |
Rs.82.79 |
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Euro |
1 |
Rs.65.69 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
- |
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OPERATING SCALE |
1~10 |
- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
- |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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15 |
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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