MIRA
INFORM REPORT
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Report Date : |
23.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
UNIVAC ENVIRONMENT SYSTEMS PRIVATE LIMITED |
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Registered Office : |
101-A, Nav Asawari, 182, J B Nager, Andheri (East), Mumbai – 400 059,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
22.02.1999 |
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Com. Reg. No.: |
11-118456 |
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CIN No.: [Company
Identification No.] |
U74999MH1999PTC118456 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMU02652G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Dealers for all types of Air Conditioners. |
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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established Carrier dealer having moderate track.
Company’s Profitability is under severe pressure. Trade relations are fair. Payments are reported as slow but correct. The company can be considered for small to mediocre business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Vikram Murthy |
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Designation : |
Partner |
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Date : |
22.08.2008 |
LOCATIONS
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Registered Office : |
101-A, Nav Asawari, 182, J B Nager, Andheri (East), Mumbai – 400 059,
Maharashtra, India |
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Tel. No.: |
91-22-26789743 / 23088616 / 23003579 / 9453 |
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Fax No.: |
91-22-23084810 |
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E-Mail : |
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Corporate Office : |
Arch No. 11, Below Mahalaxmi Bridge, Mumbai – 400 059, Maharashtra,
India |
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Tel. No.: |
91-22-23088616 / 23003579 |
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Fax No.: |
91-22-23084810 |
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Area : |
2800 Sq. ft. |
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Location : |
Owned |
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Branch Office /
Godown : |
W-125/(A), TTC, MIDC, Karve, Navi Mumbai – 400 705, Maharashtra, India |
DIRECTORS
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Name : |
Mr. Ananthkrishna Bindingnavile |
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Designation : |
Director |
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Address : |
1406, Mount Everest, Bharti Park, Anikwadala, Link Road, Wadala,
Mumbai – 400 037, Maharashtra, India |
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Date of Birth/Age : |
12.09.1961 |
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Date of Appointment : |
22.02.1999 |
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Name : |
Mr. Shamsunder Bindingnavile |
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Designation : |
Director |
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Address : |
501/D, Mannor Building, Sector – 14, Sanpada (East), Navi Mumbai – 400
705, Maharashtra, India |
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Date of Birth/Age : |
24.12.1954 |
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Qualification : |
Diploma in Mechanical Engineering |
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Date of Appointment : |
01.04.199 |
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Election Commission Identity Card No. |
MT/06/33/135581 |
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Name : |
Mr. Vikram Murthy |
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Designation : |
Director |
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Address : |
101-A, Nava Sawari, 182 J B Nagar, Andheri (East), Mumbai – 400 059,
Maharashtra, India |
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Date of Birth/Age : |
16.06.1953 |
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Qualification : |
B. Tech |
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Date of Appointment : |
22.09.1999 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
No. of Shares |
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Ananthkrishna Bindingnavile |
3350 |
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Vikram Murthy |
3350 |
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Shamsunder Bindingnavile |
3300 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
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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 : |
Dealers for all types of Air Conditioners. |
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Agencies Held : |
Carrier |
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Terms : |
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Selling : |
Cash and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Credit (30 days / 60 days / 90 days) – 180 days |
GENERAL
INFORMATION
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Customers : |
·
End Users ·
Corporates |
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No. of Employees : |
34 (In Office 30 and In Godown 4) |
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Bankers : |
Karur Vysya Bank Limited Prabhadevi Branch, 954, Appa Saheb Marathe Marg, Mumbai – 400 025,
Maharashtra, India Bank of India, Prabhadevi |
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Facilities : |
OD – Rs.1.000 million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
G M Borkar and Company Chartered Accountants |
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Address : |
B-14, Valmiki Apartments, Next to Bombay College of Pharmacy,
Sunderbagar, Kalina, Mumbai – 400 098, Maharashtra, India |
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Associates/Subsidiaries : |
National Air Company Private Limited |
CAPITAL STRUCTURE
(As on 30.09.2007)
Authorised Capital :
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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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10050 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
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 |
0.100 |
0.100 |
0.101 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.103 |
0.182 |
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4] (Accumulated Losses) |
(0.467) |
0.000 |
0.000 |
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NETWORTH |
(0.367) |
0.203 |
0.283 |
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LOAN FUNDS |
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1] Secured Loans |
0.796 |
1.086 |
1.015 |
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2] Unsecured Loans |
0.501 |
0.000 |
0.000 |
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TOTAL BORROWING |
1.297 |
1.086 |
1.015 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.930 |
1.289 |
1.298 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.907 |
1.654 |
1.452 |
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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 |
0.136 |
0.099 |
0.080 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
2.787
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1.553 |
0.981 |
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Sundry Debtors |
7.814
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5.608 |
2.280 |
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Cash & Bank Balances |
0.028
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0.226 |
(0.016) |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.820
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0.575 |
0.541 |
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Total
Current Assets |
11.449
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7.962 |
3.786 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
11.717
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8.007 |
3.780 |
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Provisions |
0.845
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0.419 |
0.240 |
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Total
Current Liabilities |
12.562
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8.426 |
4.020 |
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Net Current Assets |
(1.113)
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(0.464) |
(0.234) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.930 |
1.289 |
1.298 |
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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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10.708 |
11.184 |
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Other Income |
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0.441 |
0.261 |
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Total Income |
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11.149 |
11.445 |
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Profit/(Loss) Before Tax |
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(0.510) |
(0.012) |
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Provision for Taxation |
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0.060 |
0.067 |
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Profit/(Loss) After Tax |
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(0.570) |
(0.079) |
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Expenditures : |
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Stores Consumed |
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7.039 |
6.655 |
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Direct Expenses |
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0.594 |
1.254 |
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Administrative Expenses |
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3.480 |
3.119 |
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Finance Charges |
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0.078 |
0.092 |
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Depreciation & Amortization |
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0.468 |
0.337 |
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Total Expenditure |
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11.659 |
11.457 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
(5.11)
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(0.69) |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
(4.76)
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(0.11) |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(3.82)
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(0.12) |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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(1.39)
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(0.06) |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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(37.76)
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46.86 |
17.79 |
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Current Ratio (Current Asset/Current Liability) |
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0.91
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0.94 |
0.94 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
·
Bharat Petroleum Corporation Limited
·
Bank of India
Form No. 8
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Corporate
identity number of the company |
U74999MH1999PTC118456 |
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Name of the
company |
UNIVAC ENVIRONMENT SYSTEMS PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in India of the company |
101-A, Nav Asawari, 182, J B Nager, Andheri (East), Mumbai – 400 059,
Maharashtra, India |
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This form is for |
Creation of
charge |
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Type of charge |
Hypothecation |
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Particular of
charge holder |
Karur Vysya Bank Limited Prabhadevi Branch, 954, Appa Saheb Marathe Marg, Mumbai – 400 025,
Maharashtra, India |
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Nature of
instrument creating charge |
Agreement of
Hypothecation of Book Debts |
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Date of
instrument Creating the charge |
24.04.2006 |
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Amount secured by
the charge |
Rs.0.500 million |
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Brief of the
principal terms an conditions and extent and operation of the charge |
ROI – 13%
(Subject to Change), Other Terms and Conditions as per Agreement and as per sanction
letter of the Bank |
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Particulars of
the property charged |
First charge
Hypothecation of Book Debts, Outstandings, Moneys Receivables, Claims and
Bills which are now due and owing or which may at any time hereafter during
the continuance of the security (present and future) (More Descibed in
Agreement) |
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.43.38 |
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UK Pound |
1 |
Rs.81.34 |
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Euro |
1 |
Rs.64.55 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
1 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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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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28 |
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 |
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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 |
|
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 |
|
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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