MIRA
INFORM REPORT
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Report Date : |
29.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
AMBA AIRCON PRIVATE LIMITED |
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Registered Office : |
E-18, Green Park Main, New Delhi – 110016 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
02.07.1993 |
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Com. Reg. No.: |
55-54277 |
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CIN No.: [Company
Identification No.] |
U74899DL1993PTC054277 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELA13308B |
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PAN No.: [Permanent
Account No.] |
AAACA1462D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Dealers, Distributors and Marketing of Air Conditioners. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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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 3000 |
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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 Carrier dealer. Trade relations are
fair. General financial position is satisfactory. Payments are usually
correct and as per commitments. The company can be considered normal for
business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Sharad Saxena |
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Designation : |
Director |
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Contact No.: |
91-9891926956 |
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Date : |
23.08.2008 |
LOCATIONS
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Registered Office : |
E-18, Green Park Main, New Delhi – 110016, India |
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Tel. No.: |
91-11-26858542/26960420 |
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Fax No.: |
91-11-26854677 |
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E-Mail : |
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Area : |
500 sq. ft. |
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Location : |
Owned (Commercial Area) |
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Corporate Office : |
136, Humanyu Pur, New Delhi – 110 029, India |
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Tel. No.: |
91-11-26175752 / 26175755 / 55388399 |
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Factory : |
B-7, Extension 95, Safdurjung Enclave, New Delhi – 110 029, India |
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Tel. No.: |
91-11-26175752 / 26175755 / 55388399 |
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Mobile No.: |
91-9899729111 |
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Fax No.: |
91-11-26175775 |
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Branch Office : |
L/11/19, DLF City, Phase – II, Gurgaon |
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Area : |
500 Sq. ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Sharad Saxena |
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Designation : |
Director |
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Address : |
B-7, Extension 95, Safdurjang Enclave, Delhi – 110 029, Delhi, India |
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Date of Birth/Age : |
27.03.1969 |
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Qualification : |
MBA |
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Date of Appointment : |
02.07.1995 |
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Name : |
Mrs. Sujata Saxena |
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Designation : |
Director |
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Address : |
B-7, Extension 95, Safdurjang Enclave, Delhi – 110 029, Delhi, India |
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Date of Birth/Age : |
11.09.1938 |
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Qualification : |
Graduate |
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Date of Appointment : |
02.07.1995 |
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Name : |
Mrs. Shalini Saxena |
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Designation : |
Director |
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Address : |
B-7, Extension 95, Safdurjang Enclave, Delhi – 110 029, Delhi, India |
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Date of Birth/Age : |
13.09.1969 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
10.05.2000 |
KEY EXECUTIVES
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Name : |
Mr. Kedar Singh Mehta |
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Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2007)
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Names of Shareholders |
No. of Shares |
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Sharad Saxena |
33000 |
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Sujata Saxena |
7000 |
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Total |
40000 |
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, Distributors and Marketing of Air Conditioners. |
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Products : |
Air Conditioners |
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Agencies Held : |
`Carrier’ Air Conditioners |
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Terms : |
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Selling : |
Cash and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Cash and Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
·
End Users ·
Others ·
Corporates |
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No. of Employees : |
23 (In Office 20 and In Factory 3) |
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Bankers : |
·
Axis Bank North Zonal Office, 4th Floor, Ashoka
Estate 24, Barakhamba Road, New Delhi – 110 001, Delhi, India ·
Bank of Punjab Limited Green Park Branch, New Delhi – 110016,
India |
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Facilities : |
CC Rs.5.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
·
Prakhar Banthiya Chartered Accountants SCM Associates Address : WZ-139B, IInd
Floor, Naraina, Ring Road, New Delhi – 110 028, Delhi, India ·
P. K. Agarwal and Company Chartered Accountants Address : 107, Durga Chambers,
1333, D. B. Gupta Road, Karol Bagh, New Delhi – 110005, India Tel. No.: 91-11-25749388/25768372/25745704 Fax No.: 91-11-25749388 E-Mail : pkagarwalco@yahoo.com |
CAPITAL STRUCTURE
(As on 30.09.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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 |
|
40000 |
Equity Shares |
Rs.10/- each |
Rs.0.400
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 |
0.400 |
0.400 |
0.400 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.236 |
0.115 |
0.049 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.636 |
0.515 |
0.449 |
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LOAN FUNDS |
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1] Secured Loans |
0.179 |
0.225 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.179 |
0.225 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.815 |
0.740 |
0.449 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.409 |
0.456 |
0.287 |
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Capital work-in-progress |
4.163 |
3.746 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.027 |
0.013 |
0.010 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.823
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0.000 |
0.000 |
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Sundry Debtors |
0.234
|
0.079 |
0.506 |
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Cash & Bank Balances |
0.605
|
0.435 |
0.061 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
1.243
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2.844 |
0.530 |
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Total
Current Assets |
2.905
|
3.358 |
1.097 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
6.388
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6.704 |
0.945 |
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Provisions |
0.301
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0.129 |
0.000 |
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Total
Current Liabilities |
6.689
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6.833 |
0.945 |
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Net Current Assets |
(3.784)
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(3.475) |
0.152 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.815 |
0.740 |
0.449 |
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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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19.095 |
7.650 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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19.095 |
7.650 |
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Profit/(Loss) Before Tax |
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0.280 |
0.191 |
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Provision for Taxation |
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0.159 |
0.125 |
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Profit/(Loss) After Tax |
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0.121 |
0.066 |
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Total Expenditure |
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18.815 |
7.459 |
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 |
(%) |
0.63
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0.86 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
1.47
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2.50 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.74
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2.53 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.44
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0.37 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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10.80
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13.70 |
2.10 |
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Current Ratio (Current Asset/Current Liability) |
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0.43
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0.49 |
1.16 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
·
Bharti Wallmart Private Limited
·
Reliance Industries Limited
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Reliance Retail Limited
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SRF Limited
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Sriram School
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DCM Shriram
·
Denso India Limited
·
National Council of Applied Economic Research (NCAER)
Form No. 8
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Corporate
identity number of the company |
U74899DL1993PTC054277 |
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Name of the
company |
AMBA AIRCON PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in India of the company |
E-18, Green Park Main, New Delhi – 110016, India |
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This form is for |
Creation of
charge |
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Type of charge |
·
Immovable
property ·
Movable
property (not being pledge) ·
Others |
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Particular of
charge holder |
Axis Bank North Zonal Office, 4th Floor, Ashoka Estate 24, Barakhamba
Road, New Delhi – 110 001, Delhi, India |
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Nature of
instrument creating charge |
1.
Loan
Agreement 2.
Sanction
Letter |
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Date of
instrument Creating the charge |
07.02.2008 |
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Amount secured by
the charge |
Rs.5.000 millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
Interest Rate of Interest – PLR – 2.00% Presently at 13.00% p.a. payable
monthly. ·
Terms of
repayment On Demand ·
Margin As per Agreement ·
Extent and
operation of the charge As per the terms of the sanction ·
Others Overdraft against property under MPower OD Scheme. The facility is
additionally secured by personal guarantee of Mr. Sharad Saxena, Mr. Lalita
Pershad Saxena, Mrs. Shalini Saxena and Mrs. Sujata Saxena. |
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Particulars of
the property charged |
Equitable Mortgage
of property situated at L 11/19, DLF Qutab Enclave Complex, Phase II, Village
Sarhaul, Gurgaon owned by Mr. Lalta Pershad Saxena and Sharad Saxena. |
It neither imports nor exports.
The company also undertakes Annual Maintenance Contract (AMC) of Air
Conditioners.
The company has received the following awards from Aircon.
·
Outstanding Achievement Award in 1998
·
Highest SMPS Growth – North Zone in 2000
The company’s fixed assets of important value include
·
Furniture and fixture
·
Scooter
·
Van
·
Cars
·
Cycle
·
Fax machine
·
Air conditioner
·
Mobile
·
Refrigerator
·
Inverter
·
Computer
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.43.73 |
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UK Pound |
1 |
Rs.80.31 |
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Euro |
1 |
Rs.64.61 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
4 |
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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 |
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 |
|
42 |
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 |
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