MIRA
INFORM REPORT
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Report Date : |
07.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
RAS NET COM PRIVATE LIMITED |
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Registered Office : |
B-86B, Kalkaji, New Delhi |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
23.02.2001 |
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Com. Reg. No.: |
55-109778 |
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CIN No.: [Company
Identification No.] |
U74899DL2001PTC109778 |
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IEC No.: |
0502009250 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELR13221F |
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PAN No.: [Permanent
Account No.] |
AACCR0024L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importer and Exporter of rental solutions on complete high performance
servers and networking products. |
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 4000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company in its field. Scale of activity
is limited. Trade relations are fair. Business is active. Payments are
reported as slow but correct. The company can be considered good for small to mediocre business
dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Sundar |
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Designation : |
Director |
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Contact No.: |
91-9381382000 |
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Date : |
04.08.2008 |
LOCATIONS
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Registered Office : |
B-86B, Kalkaji, New Delhi - ,110 019, India |
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Tel. No.: |
91-11-2642349 |
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E-Mail : |
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Head Office : |
No.532, 5th Floor, Hemkunt chambers, 89 Nehru Place, 1, New Delhi – 110 019, Delhi, India |
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Mobile No.: |
91-9381382000/9350102722/9810167814 |
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Fax No.: |
91-11-26449008 |
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E-Mail : |
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Area : |
100 Sq. ft |
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Location : |
Rented |
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Branch Office : |
Shop No. 11, City Centre, Plaza No.3, Mount Road |
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Area : |
116 Sq. ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. G Sundar |
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Designation : |
Director |
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Address : |
A-500, Double Story, Kalkaji, New Delhi – 110 019, Delhi, India |
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Date of Birth/Age : |
27.10.1967 |
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Date of Appointment : |
23.01.2001 |
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Name : |
Mr. S Uma |
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Designation : |
Director |
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Address : |
A-500, Double Story, Kalkaji, New Delhi – 110 019, Delhi, India |
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Date of Birth/Age : |
31.12.1975 |
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Qualification : |
SSC |
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Date of Appointment : |
20.04.2004 |
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Name : |
Mr. G Karan |
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Designation : |
Director |
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Address : |
A-399, Double Story, Kalkaji, New Delhi – 110 019, Delhi, India |
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Date of Birth/Age : |
26.03.1973 |
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Date of Appointment : |
23.02.2001 |
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Name : |
Mr. G Karthikeyan |
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Designation : |
Director |
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Address : |
A-399, Double Story, Kalkaji, New Delhi – 110 019, Delhi, India |
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Date of Birth/Age : |
13.05.1975 |
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Date of Appointment : |
23.02.2001 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2007)
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Names of Shareholders |
No. of Shares |
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G Sunder |
8000 |
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S Uma |
4000 |
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Total |
12000 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2006)
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Category |
Percentage |
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Directors or relatives of Director |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Importer and Exporter of rental solutions on complete high performance
servers and networking products. |
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Products : |
·
Sun server ·
T2000 |
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Imports : |
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Products : |
Sun IBM, HP |
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Countries : |
·
US ·
Singapore |
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Terms : |
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Selling : |
Credit (30 days/60 days) – 40 days |
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Purchasing : |
Cash – 100% cash |
GENERAL
INFORMATION
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Customers : |
·
Wholesalers ·
End Users |
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No. of Employees : |
5 |
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Bankers : |
·
ICICI Bank ·
Andhra Bank F-10, Kalkaji, New Delhi – 110 019, Delhi, India |
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Facilities : |
Rs.1.000 million |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Mukesh Kumar Bansal Chartered Accountants |
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Address : |
A-160, Shakarpur, Delhi – 110 092, Delhi, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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12000 |
Equity Shares |
Rs.10/- each |
Rs.0.120
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 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.120 |
0.120 |
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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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0.695 |
0.672 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.815 |
0.792 |
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LOAN FUNDS |
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1] Secured Loans |
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1.877 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.027 |
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TOTAL BORROWING |
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1.877 |
0.027 |
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DEFERRED TAX LIABILITIES |
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0.004 |
0.033 |
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TOTAL |
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2.696 |
0.852 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.787 |
1.204 |
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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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0.096 |
0.198 |
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Sundry Debtors |
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2.963 |
1.020 |
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Cash & Bank Balances |
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0.024 |
0.156 |
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Other Current Assets |
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0.226 |
0.036 |
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Loans & Advances |
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0.700 |
0.000 |
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Total
Current Assets |
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4.009 |
1.410 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.004 |
1.737 |
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Provisions |
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0.096 |
0.030 |
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Total
Current Liabilities |
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2.100 |
1.767 |
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Net Current Assets |
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1.909 |
(0.357) |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.005 |
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TOTAL |
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2.696 |
0.852 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.88 |
2.27 |
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Current Ratio (Current Asset/Current Liability) |
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1.91 |
0.80 |
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance Chart
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Parameters |
Details |
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Existence Verification |
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Name |
RAS NET COM PRIVATE LIMITED |
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Statutory Approvals |
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Legal Status of Firm |
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Income Tax Registration |
AACCR0024L |
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State Sales Tax Registration |
LC10901480023978/0401 |
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Service Tax Registration |
DLII/ST/MSR/TV/1033104 |
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Import Export Code |
0502009250 |
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Name of Bank |
ICICI Bank |
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Current Account Number |
- 629405033383 |
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Account Since |
2002 |
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Credibility Factors |
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IndiaMART Client Since |
2007 |
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Years of Establishment |
2001 |
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Turn Over |
2007-08 Rs.10.000 millions |
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Turn Over Year |
2008-09 Rs.20.000 millions |
Trade References :
·
HCL Info Systems Limited – Noida, Chennai
·
Excel Limited - Delhi
Form No. 8
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Name of the company |
RAS NET COM PRIVATE LIMITED |
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Presented By |
Director, Mr. G
Sunder |
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1) Date and description of instrument creating the change |
Composite
Agreement dated 08.10.2005 Document No.
RF.255 dated 08.10.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.1.000 million
only @ 10.50% p.a. |
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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 |
Stocks of
Computers, Scanners, Monitors, Accessories etc. Entire basement
of free hold property bearing No. 112, Pocket 40, C R Park, N D 19 |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rs.1.000 million
at the rate of 10.50% p.a. with monthly rests. Penal interest being 2% with
margin being25% on stocks. |
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5) Name and Address and description of the person entitled to the charge. |
Andhra Bank,
F-10, Kalkaji, New Delhi – 110 019, Delhi, India |
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6) Date and brief description of instrument modifying the charge |
Nil |
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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. |
Nil |
Web Details
Established on February 2001, Subject is one of the leading firms engaged
in importing, exporting and offering rental solutions on complete high
performance Servers and networking products like SUN, IBM, HP and CISCO.
Available in various configurations, Servers, work stations, switches and
routers delivered by them, have high efficiency and require less maintenance.
These easy-to-use network appliances give virtually everything that one needs
to set up a business like BPO, software development and back office support.
From memory and disks to fully-configured enterprise systems, they are also one
of the few exceptions, to be involved in sale and purchase of any servers and
their parts, spares, NetApps, EMC and Hitachi Storage Devices. They also
provide quality, managed service offerings for any type of hosting need. The company
boasts a strong management team and a highly skilled services team that have
the ability to manage several thousand servers.
It is the mission to provide
industry-leading service andsupport to the customers consistently and with true
dependability. Following international quality guidelines in the transportation
process they have developed the wide clients all across the globe.
The Essence
They inspire the partners to develop
innovative products and services. They are committed to satisfy the need for
business continuity and productivity encountered by organizations on a global
scale. Empowered with diverse experience in this high growth industry, they are
also dedicated to maximize the market leadership through on-time delivery of
products. From data replication, disaster recovery or a storage area network,
the highly responsive sales and service team can work with the clients to offer
solutions that meet their needs.
Quality Orientation
Quality is one issue on which they never
compromise. Being one of the most experienced name in this growth oriented
industry, they ensure that the each product operates effectively and requires
less maintenance. Working as per international quality standards, the each
product undergoes quality assurance procedures, to assure accuracy and
precision to the client's specifications. The all operating system comes
preloaded and servers/ workstations are subject to rigorous burn-in periods for
quality assurance. They release the products into the market only when it is
convinced that they match up to the standards specified by the customers.
The Storage Unit
Following inventory stock management
service, they have the own warehouse facility, which has the capacity to store
large quantity of products. Spread over 1500 square foot facility and
state-of-the-art system integration lab they, configure, test and ship product
to meet the clients' needs.
The Distribution Network
Setting new benchmarks in this area of operations, they have consistently
marked significant new developments in the transportation process. Having
tie-ups with major C and F companies, they make sure that the each consignment
reach its described destination within a stipulated time frame.
The Packaging Facility
I Maintenance Services: Committed to
give value for money, they offer cost competitive maintenance program suited to
the clients' environment and operating conditions. They also offer proper installation
and commissioning of servers to guarantee trouble free production. The team of
highly skilled and experienced technicians have been posted to attend customer
calls at any given time. At Subject., they offer the repair service on the
following products:
- Cisco Routers
and Switches
- Sun Servers
and Workstations
II. Sale Solutions: They are also one of the few names to sale the new
andrefurbished Servers, Workstations, Storage Devices and Modules andits spares
etc.
III. New and
Refurbished-Sale Solutions: They are one of the few acclaimed names to
offer refurbished SUN products solution, Cisco that come with a full 1-year
warranty respectively. At Subject, they sell the following refurbished
products:
- SUN, IBM and
HP Servers and Workstation
- CISCO Routers
and Switches
IV. Rental Solutions: They are also
specialized in offering the products on rental basis to those companies that
want to minimize their capital outlay while maximizing their access to
technology. They offer Fair Market Value Rental (FMV) service that gives the
rental the option to purchase the rental equipment at the end of the rental
terms. The standard rental terms are 3,6,12 to 60 months. Using the Rental
Program, one can avoid unnecessary investment, technology obsolescence and hardware
failure.
Manpower
They have a full fledged team of quality control personnel who are ably
supported by skilled labor force to execute prestigious projects. They also
have highly skilled professionals along with transport facility, to deliver the
products right at the described destination within the given time frame. They
make ordering a breeze and are always ready to answer the toughest technical
questions related to products. They offer complete rigorous training program to
the manpower that further helps to deliver after sales service in 365 days a
year and execute various operations as per customers' specifications.
The Patrons
Working on ethical principles, they have
established an amicable relationship with the vendors and clients. They at Subject,
actually cater to the demands of a wide clientele spread all across the nation
and are continuing to expand the network globally.
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 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.42.00 |
|
UK Pound |
1 |
Rs.82.14 |
|
Euro |
1 |
Rs.65.09 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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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 |
|
33 |
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 |
|