MIRA
INFORM REPORT
|
Report Date : |
21.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
MULTIPLY PAPER PACKAGING INDUSTRIES PRIVATE LIMITED |
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Registered Office : |
13 – P, Pocket – 4, DDA Flats, Mayur Vihar, Phase – III, New Delhi 110
096 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
07.03.1996 |
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Com. Reg. No.: |
55 – 76851 |
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CIN No.: [Company
Identification No.] |
U21014DL1996PTC076851 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Paper Corrugated Boxes and Packing Material |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 19196 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track. Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
13 – P, Pocket – 4, DDA Flats, Mayur Vihar, Phase – III, New Delhi 110
096, India |
|
Mobile No.: |
91-9891022359 / 91-9911322359 / 91-9810368318 / 91-9868150517 /
91-9911322360 |
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E-Mail : |
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Corporate Office : |
A 56, Sector 58, Noida 201 301, Uttar Pradesh, India |
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Tel. No.: |
91-120-2580568 / 9 |
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Fax No.: |
91-120-2580569 |
DIRECTORS
|
Name : |
Mr.Rajiv Sood |
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Designation : |
Director |
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Address : |
A – 119, Sector21, Gautam Budhnagar, Noida 201301, Uttar Pradesh,
India |
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Date of Birth/Age : |
12.03.1966 |
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Date of Appointment : |
07.03.1996 |
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Name : |
Ms. Sharmila Sood |
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Designation : |
Director |
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Address : |
A – 119, Sector21, Gautam Budhnagar, Noida 201301, Uttar Pradesh,
India |
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Date of Birth/Age : |
28.11.1972 |
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Date of Appointment : |
07.03.1996 |
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Name : |
Ms. Vijaya Sood |
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Designation : |
Director |
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Address : |
A – 119, Sector21, Gautam Budhnagar, Noida 201301, Uttar Pradesh,
India |
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Date of Birth/Age : |
01.02.1933 |
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Date of Appointment : |
07.03.1996 |
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Name : |
Mr. Jailal Sood |
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Designation : |
Director |
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Address : |
A – 119, Sector21, Gautam Budhnagar, Noida 201301, Uttar Pradesh,
India |
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Date of Birth/Age : |
02.01.1935 |
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Date of Appointment : |
07.03.1996 |
KEY EXECUTIVES
|
Name : |
Chandveer Singh and Company |
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Designation : |
Company Secretary |
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Address : |
U – 118, Shakarpur, Delhi 110 092, India |
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|
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Name : |
M/s. Ranjeet Verma and Association |
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Designation : |
Company Secretary |
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Address : |
6D, Pocket 2, MIG Complex, Mayur Vihar lll, Delhi – 110096 |
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Phone No.: |
91-11-22619943 |
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Mob No.: |
91-9999005977 / 9213987033 |
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Email : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names Of Shareholders |
|
No. of Shares |
|
Mr.Rajeev Bakshi |
|
2000 |
|
Mr. Dinesh Tiwari |
|
2000 |
|
Mr. Jawahar Lal |
|
2000 |
|
Narain Press |
|
20000 |
|
Mr. Dadhipal Singh |
|
10000 |
|
Mr. Rajeev Sood |
|
17510 |
|
Mr. Jailal Sood |
|
97760 |
|
Mr. Vijay Sood |
|
15600 |
|
Mahalaxmi Industries |
|
10000 |
|
Om Mighila Industries |
|
5000 |
|
Sushila Dhingra |
|
5000 |
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Mrs. Pooja Dhingra |
|
5000 |
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Mrs. Mamta Aggarwal |
|
5000 |
|
Ashima Packaging |
|
5000 |
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Mrs. Sharmila Sood |
|
42700 |
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Mr. Satender Gupta |
|
4000 |
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Mr. Sunil Sood |
|
4000 |
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Mrs. Neeta Sood |
|
4000 |
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Mr. Anil Kumar Sood |
|
4000 |
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Mrs. Nivedita Sood |
|
4000 |
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Mr. Satis Kumar Sood |
|
4000 |
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Mrs. Ranjana Sood |
|
4000 |
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Mrs. Menu Sood |
|
4000 |
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Mr. Kailesh Sithata |
|
4000 |
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Mrs. Neena Sithata |
|
2000 |
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Mr. Monoj Chauhan |
|
4000 |
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Mr. M C Sood |
|
4000 |
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Mr. Sushil Kumar Sood |
|
19000 |
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Mr. Pankaj Sharma |
|
10000 |
|
Mr. Mohan Parashar |
|
4700 |
|
Changia Steels Private Limited |
|
30000 |
|
Mr. Basant Agency Private Limited
|
|
30000 |
|
Ganpati Packaging Traders |
|
5000 |
|
Mr. Kanav Dikshit |
|
10000 |
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Mrs. Sumitra Devi |
|
20000 |
|
Mr.P K Sugunan |
|
730 |
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Total |
|
420000 |
Equity share breakup (percentage of total equity)
|
S. No. |
Category |
Percentage |
|
1 |
Directors or relatives of directors |
100.000 |
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|
Total |
100.000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Paper Corrugated Boxes and Packing Material |
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Products : |
Ř Corrugated Boxes Ř Mono Cartons Ř Printed Carton
Pallets Ř Stickers Ř Labels Ř Brochures |
GENERAL
INFORMATION
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Customers : |
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Bankers : |
Ř Indian Overseas
Bank Ř Standard
Chartered Bank Ř HSBC Bank Ř Syndicate Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Deepak Roshan and Associates Chartered Accountants |
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Address : |
410, Krishna Apra Plaza, Sector 18, Noida 201301, Uttar Pradesh, India
|
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
450000 |
Equity shares |
Rs. 10/- each |
Rs. 4.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
450000 |
Equity shares |
Rs. 10/- each |
Rs. 4.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
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|
|
|
|
1] Share Capital |
4.500 |
4.500 |
4.500 |
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2] Share Application Money |
0.070 |
0.070 |
0.070 |
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|
3] Reserves & Surplus |
0.232 |
0.229 |
0.219 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
4.802 |
4.799 |
4.789 |
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|
LOAN FUNDS |
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|
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|
1] Secured Loans |
2.752 |
1.990 |
0.629 |
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2] Unsecured Loans |
0.000 |
0.172 |
0.000 |
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TOTAL BORROWING |
2.752 |
2.162 |
0.629 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
7.554 |
6.961 |
5.418 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.801 |
4.737 |
4.063 |
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Capital work-in-progress |
0.000 |
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 |
1.730
|
1.775 |
0.672 |
|
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Sundry Debtors |
4.396
|
2.354 |
3.222 |
|
|
Cash & Bank Balances |
0.091
|
0.052 |
0.079 |
|
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Other Current Assets |
0.403
|
0.428 |
0.333 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
6.620
|
4.609 |
4.306 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
4.054
|
1.845 |
2.523 |
|
|
Provisions |
0.000
|
0.749 |
0.428 |
|
Total
Current Liabilities |
4.054
|
2.594 |
2.951 |
|
|
Net Current Assets |
2.566
|
2.015 |
1.355 |
|
|
|
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MISCELLANEOUS EXPENSES |
0.186 |
0.209 |
0.000 |
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TOTAL |
7.554 |
6.961 |
5.418 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
13.039 |
10.566 |
NA |
|
Total Income |
13.039 |
10.566 |
NA |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
3.834 |
0.044 |
NA |
|
Provision for Taxation |
0.000 |
0.000 |
NA |
|
Profit/(Loss) After Tax |
3.834 |
0.044 |
NA |
|
|
|
|
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Expenditure |
|
|
|
|
Financial Charges |
0.322 |
0.067 |
NA |
|
Depreciation |
0.000 |
0.456 |
NA |
|
Other Expenses |
8.883 |
9.999 |
NA |
|
Total Expenditure |
9.205 |
10.522 |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
29.40
|
0.41 |
NA |
|
|
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Net Profit Margin (PBT/Sales) |
(%) |
29.40
|
0.41 |
NA |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
33.56
|
0.47 |
NA |
|
|
|
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|
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Return on Investment (ROI) (PBT/Networth) |
|
79.84
|
0.00 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.41
|
0.99 |
3.580 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.63
|
1.77 |
1.45 |
LOCAL AGENCY
FURTHER INFORMATION
Note:
The registered office of the company has been shifted from Shri Nagar Colony,
Ashok VIhar Road, Delhi to 13 – P, Pocket – 4, DDA Flats, Mayur Vihar, Phase –
III, New Delhi 110 096, India with effect from 12.12.1999
|
Name of the company |
MULTIPLY
PAPER PACKAGING INDUSTRIES PRIVATE LIMITED |
|
1) Date and description of instrument creating the change |
Letter of Hypothecation F 110 A, F 110 E, F 107 and DPN dt. 20.02.2006 and F 379B dt. 21.02.2006 for creating equitable mortgage on 20.02.2006 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.000 millions |
|
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 |
Hypothecation of stock of Raw Materials, Work in progress, finished goods, book debts, plant and machinery and other block assets of the company. The C/C limit is further collaterally secured by equitable mortgage of industrial plot No. 56 A, Sector 58, III, Noida, Uttar Pradesh and building already constructed / to be constructed thereon. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 0.75% above BPLR of the bank presently 11.75% p. a. with monthly rests or at such rates and rests as may be revised by the bank from time to time margin on stock 25% and on book debts 50% |
|
5) Name and Address and description of the person entitled to the charge. |
Indian Overseas Bank, Roop Nagar Branch, Delhi 7 |
As per website details:
Profile
Subject was incorporated in the year 1995 as a
manufacturer of high quality and durable Corrugated Boxes. They are pleased to
introduce theirselves as the most recognized manufacturer and exporter of all
variety and style of Corrugated Boxes, Mono Cartons and Sheet etc.
Product Range And Their Quality
They offer a wide array of Corrugated Boxes, Mono Cartons and Paper Carry
Bags in different sizes and shapes as required. Apart from durably
engineered Corrugated Boxes and Cartons, they also manufacture Stickers,
Labels, Tags, Brochures and Danglers. They assure you that their
packaging components would surely enhance the sale of the products by making
them of high standard for the consumer, providing information about their
features and benefits. They deal into cost-effective packaging materials, which
are also easy to stock and inventory.
Infrastructure
Their in-house designing facility equipped with well-maintained
and sophisticated machines and equipments have made it possible to serve their clients
with quality Boxes. They have a team of experienced and skilled members
who excel in giving quality products to their global customers. In order to
maintain the quality of the products, they have some of the most up-to-date
machinery in their production unit. Moreover, their R&D people engage
themselves by improving the quality of their existing products and giving a new
look to the fresh stock with
Product Range And Their Quality
They offer a wide array of Corrugated Boxes, Mono Cartons and Paper Carry Bags in different
sizes and shapes as required. Apart from durably engineered Corrugated Boxes and Cartons, they
also manufacture Stickers, Labels, Tags, Brochures and Danglers. They assure you
that their packaging components would surely enhance the sale of the products
by making them of high standard for the consumer, providing information about
their features and benefits. They deal into cost-effective packaging materials,
which are also easy to stock and inventory.
Infrastructure
Their in-house designing facility equipped with well-maintained and
sophisticated machines and equipments have made it possible to serve their
clients with quality Boxes. They
have a team of experienced and skilled members who excel in giving quality
products to their global customers. In order to maintain the quality of the
products, they have some of the most up-to-date machinery in their production
unit. Moreover, their R&D people engage themselves by improving the quality
of their existing products and giving a new look to the fresh stock with
accordance to market trends. They also strive to accommodate any particular
request a customer may have and try to satisfy their needs by manufacturing
customised products.
The company has established a good track record with their
major clients, which include GAP
International (USA), CAS Weighing India, Jindal Stainless Ltd., Jhalani Impex
(Hand Tool Manufacturer and Exporters), Tryshorea India (Shoe Exporter),
Hymatic Agro Equipment Pvt. Ltd. (Manufacturers of Pesticide Sprayers) etc.
The company maintains International
Quality Standards in this SSI
unit to have competitive edge in the market. Whatever the need, they
will gladly aid their customers in designing a carton or display that best
suits their products and excel their sales through their Cartons and Corrugated
Boxes.
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.43.72 |
|
UK Pound |
1 |
Rs.81.45 |
|
Euro |
1 |
Rs.64.47 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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 |
|
