MIRA
INFORM REPORT
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Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
JAYPEEM GRANITES PRIVATE LIMITED |
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Registered Office : |
8-2-603/13/3/N/B, Road No. 10, Banjara Hills, Hyderabad-500034, Andhra
Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
05.11.1999 |
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Com. Reg. No.: |
01-32805 |
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CIN No.: [Company
Identification No.] |
U14102AP1999PTC032805 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDJ00484B |
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PAN No.: [Permanent
Account No.] |
AAACJ8260C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Granites and Hana Crafted Stone
Products Like Granites Monuments. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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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 140000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are fair. General financial
position is good. Payments are usually correct and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Ms. Himavati |
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Designation : |
Account Manager |
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Date : |
14.08.2008 |
LOCATIONS
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Registered Office : |
8-2-603/13/3/N/B, Road No. 10, Banjara Hills, Hyderabad-500034, Andhra
Pradesh, India |
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Tel. No.: |
91-40-23226853/ 23316574 |
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Fax No.: |
91-40-23314100 |
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E-Mail : |
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Website : |
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Area : |
1500 sq. ft (Owned) |
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Branches : |
Located at:- -
Bangalore -
Gandhi Nagar -
Hyderabad |
DIRECTORS
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Name : |
Mr. Rakesh Kumar Marwaha |
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Designation : |
Director |
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Address : |
Flat No. 203, Pearl House Apartments, Naveen Nagar, Hyderabad-500004,
Andhra Pradesh, India |
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Date of Birth/Age : |
24.09.1966 |
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Qualification : |
Post Graduate |
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Experience : |
15 Years |
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Date of Appointment : |
01.09.2000 |
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Name : |
Mr. Harvesh Kumar Marwaha |
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Designation : |
Director |
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Address : |
Aryaman, Plot No. 924G, Road No. 46, Jubilee Hills, Hyderabad-500032,
Andhra Pradesh, India |
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Date of Birth/Age : |
23.11.1960 |
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Qualification : |
Chartered Accountant |
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Experience : |
20 Years |
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Date of Appointment : |
05.11.1999 |
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Name : |
Mr. Sumeet Gunti |
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Designation : |
Directors |
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Address : |
H. No. 6-3-1238/ B/14, 301, Shreyas Apartments, Rajbhavan Road,
Somjiguda, Hyderabad-500082, Andhra Pradesh, India |
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Date of Birth/Age : |
04.12.1967 |
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Qualification : |
Post Graduate |
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Experience : |
15 Years |
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Date of Appointment : |
05.12.1999 |
KEY EXECUTIVES
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Name : |
Ms. Himavati |
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Designation : |
Account Manager |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
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Names of Shareholders |
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No. of Shares |
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Harvesh Marwaha |
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35000 |
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Asmita Gunti Marwaha |
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105000 |
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Karan Aryuaman Marwaha |
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70000 |
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Total |
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210000 |
Equity Share Breakup (Percentage of Total Equity)
As on 27.09.2007
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Category |
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Percentage |
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Foreign Holdings (Foreign institutional investor(s), Foreign
companie(s), Foreign financial institutions(s), Non-resident Indian(s) or Overseas
Corporate bodies or Others |
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5.00 |
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Directors or relatives of directors |
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95.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Granites and Hana Crafted Stone
Products Like Granites Monuments. |
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Exports : |
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Products : |
Granites and its Monuments |
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Countries : |
-
European Countries -
Ireland -
Fance -
United Kingdom |
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Imports : |
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Products : |
Raw Materials- Machinery |
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Countries : |
-
Korea -
China -
Spain |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C, Credit ( 60 Days), DA |
GENERAL
INFORMATION
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No. of Employees : |
212 ( Office 12, Factory 200) |
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Bankers : |
Canara Bank, Somajiguda Branch, First Floor, Vista Grand Towers,
Rajbhavan Road, Somajiguda, Hyderabad-500082, Andhra Pradesh, India |
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Facilities : |
CC Rs. 35.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Gandhi and Gandhi Chartered Accountant |
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Address : |
1002, Paigah Plaza, Hyderabad-500063, Andhra Pradesh, India |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 27.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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221055 |
Equity Shares |
Rs. 10/-
each |
Rs. 2.211
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.211 |
2.211 |
2.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
27.768 |
26.127 |
21.634 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
29.979 |
28.338 |
23.734 |
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LOAN FUNDS |
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1] Secured Loans |
11.249 |
10.425 |
6.172 |
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2] Unsecured Loans |
0.109 |
1.257 |
0.442 |
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TOTAL BORROWING |
11.358 |
11.682 |
6.614 |
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DEFERRED TAX LIABILITIES |
1.266 |
0.982 |
1.142 |
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TOTAL |
42.603 |
41.002 |
31.490 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
23.480 |
21.963 |
13.848 |
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Capital work-in-progress |
0.116 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
10.310
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8.036 |
5.910 |
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Sundry Debtors |
3.404
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1.526 |
2.609 |
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Cash & Bank Balances |
1.620
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0.887 |
0.746 |
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Other Current Assets |
5.122
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5.311 |
6.635 |
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Loans & Advances |
12.703
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14.026 |
11.281 |
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Total
Current Assets |
33.159
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29.786 |
27.181 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
13.465
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10.486 |
8.584 |
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Provisions |
0.695
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0.273 |
0.971 |
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Total
Current Liabilities |
14.160
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10.759 |
9.555 |
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Net Current Assets |
18.999
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19.027 |
17.626 |
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MISCELLANEOUS EXPENSES |
0.008 |
0.012 |
0.016 |
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TOTAL |
42.603 |
41.002 |
31.490 |
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PROFIT & LOSS
ACCOUNT
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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0.968 |
60.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.85
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0.79 |
0.68 |
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Current Ratio (Current Asset/Current Liability) |
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2.34
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2.77 |
2.84 |
LOCAL AGENCY
FURTHER INFORMATION
The registered office of the company has been shifted from 6-3-596/72,
Naveen Nagar, Hyderabad-500004, Andhra Pradesh, India to present address w.e.f.
01.07.2006
Trade References:
- Funenord, Frnace
- Group Deyosse, France
- Pierart, Frnace
Bankers Charges
Report as per Registry
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This form is for |
Modification of
charge |
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Charge
identification number of the modified
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90126569 |
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Corporate identity
number of the company |
U14102AP1999PTC032805 |
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Name of the
company |
JAYPEEM GRANITES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
8-2-603/13/3/N/B, Road No. 10, Banjara Hills, Hyderabad-500034, Andhra
Pradesh, India |
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Type of charge |
Book Debts Movable Property Others |
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Particular of
charge holder |
Canara Bank,
Rajbhavan Road, Somajiguda, Hyderabad-500082, Andhra Pradesh, India |
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Nature of
description of the instrument creating or modifying the charge |
Common
Hypothecation Agreement Agreement for
Opening Inland Irrevocable Letters of Credit Personal
Guarantee of Directors and their Sister concern |
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Date of instrument
Creating the charge |
29.11.2007 |
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Amount secured by
the charge |
Rs. 70.100
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest For packing
credit rate of interest 9.75% p.a. compounded quarterly for the confessional
effect of 120 days or at such rate or rates and for such period or periods as
prescribed by the RBI. In case of default by borrower to meet the commitment
rate of interest is payable by the borrower at 11.75%p.a. compounded
quartlery at such other rates as prescribed by the RBI Terms of
Repayment Term Loan Total Tenur 5
years 3 months Mortorium 3
months from the date of first disbursement Repayment -60 monthly
installments as under 59 Rs. 0.109 Millions =Rs. 6.431 Millions -
1 Rs. 0.069
Millions = Rs,0.069 Millions Margin Rs. 0.417
Millions Extent and
Operation of the charge Hypothecation of
Stocks including Raw Material, Stock in process, Finished Goods and Book
Debts Colleteral
Security First charge on
Plant and Machninery, Fixed assets of the company excluding vehicles |
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Short particulars
of the property charged |
No Property
Charged |
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Date of latest modification
prior to the present modification |
04.10.2005 |
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Particulars of
the present modification |
Cash Credit – PC
Limits increased from 10.000 Millions to 15.600 Millions FBE Limit
increased from 35.000 Millions to 42.000 Millions New Term Loan taken
of Rs. 6.500 Millions Letters of Credit
of Rs. 3.000 Millions Guarantee of Rs.
3.000 Millions |
AS PER WEBSITE
Profile:
Started in 1995, the businesses are
closely held and family operated. They have been exporting the
products to some of the biggest
Importers in U.K., Ireland, France, Belgium, Germany, South
Africa, Singapore.
The products are manufactured to the
highest standards with a seal for guaranteed
quality backed by very effecient service.
Monuments:
They design monuments to combine elegance and originality
with endurance using quality granite and best craftsmanship. They come in wide
variety of sizes, shapes, colours and finishing to meet the needs.
Finishes Offered:
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All Polished
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Part Polished
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Pitched Edges
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Punched Edges
Plaques:
Plaques are made to order. They
are worked on to get a mirror polish effect. No sandblasting is done yet.
Available in all classical Indian shades.
Plaques are available in two forms:
Books : Book form plaques are available in Red
Multicolour with
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One surface and three polished edges with a shaped top and
pages cut on four sides and a groove in the centre.
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One surface polished with pages cut on sides and a groove on
the surface.
Plates : Plate form plaques are available in
Paradiso and Absolute Black with
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One surface and edges polished.
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One surface and three sides polished
Vases:
Available in classique and modern forms.
They use the best technologies to give an artistic finish
to the Vases and urns. They can be supplied in various sizes and can
be made to match the colour of the monument.
Vases and Urns can be ordered of different sizes like
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16 x 32cm
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19 x 30cm
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23 x 20cm
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.82 |
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UK Pound |
1 |
Rs.80.01 |
|
Euro |
1 |
Rs.63.83 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
48 |
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 |
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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 |
|
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 |
|