MIRA
INFORM REPORT
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Report Date : |
29.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
UMAX PACKAGING LIMITED |
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Registered Office : |
807, Tulsiani Chambers, Nariman Point, Mumbai – 400021, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
14.09.2007 |
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Com. Reg. No.: |
174118 |
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CIN No.: [Company
Identification No.] |
U74950MH2007PLC174118 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMU05282E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer of all kinds of Plastic Aluminum and Polyster Foils and
Other Packing Materials. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a new company promoted by Uma Polymers Limited. Subject is yet
to commence commercial operations. Trade relations are fair. No complaints
have been heard so far. The company can be considered for small to mediocre business dealings
with slight caution initially. |
LOCATIONS
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Registered Office : |
807, Tulsiani Chambers, Nariman Point, Mumbai – 400021, Maharashtra,
India |
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E-Mail : |
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Factory : |
Plot No.2, New Jodhpur Industrial Area, Behind New Power House,
Jodhpur – 342003, Rajasthan, India |
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Tel. No.: |
91-291-2740854 |
DIRECTORS
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Name : |
Mrs. Sarita Lodha |
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Designation : |
Director |
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Address : |
C – 66-67, Shastri Nagar, Jodhpur – 342003, Rajasthan, India |
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Date of Birth/Age : |
22.05.1966 |
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Name : |
Mr. Shripal Raj Lodha |
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Designation : |
Director |
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Address : |
C – 66-67, Shastri Nagar, Jodhpur – 342003, Rajasthan, India |
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Date of Birth/Age : |
20.10.1958 |
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Email : |
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Name : |
Mrs. Shruti Lodha |
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Designation : |
Director |
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Address : |
C – 66-67, Shastri Nagar, Jodhpur – 342003, Rajasthan, India |
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Date of Birth/Age : |
28.11.1988 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 19.04.2008)
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Names of Allotted |
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No. of Shares Allotted |
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Uma Polymers Limited |
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750000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of all kinds of Plastic Aluminum and Polyster Foils and
Other Packing Materials. |
GENERAL
INFORMATION
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Suppliers : |
Nandani Roofing System Private Limited |
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Bankers : |
City Branch, Kapra Bazar, Jodhpur – 342003, Rajasthan, India
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Rajendra Jain Chartered Accountant |
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Address : |
Sudershan E – 123, Kalptaru Shopping Centre, Opposite Manidhari
Hospital, Residency Road, Jodhpur – 342001, Rajasthan, India |
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Holding Company : |
Uma Polymers Limited L25201RJ1987PLC003956 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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2050000 |
Equity Shares |
Rs.10/- each |
Rs.20.500 Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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20.500 |
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2] Share Application Money |
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1.458 |
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3] Reserves & Surplus |
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60.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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81.958 |
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LOAN FUNDS |
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1] Secured Loans |
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1.383 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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1.383 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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83.341 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.052 |
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Capital work-in-progress |
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38.865 |
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INVESTMENT |
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0.003 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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12.623 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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28.584 |
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Total
Current Assets |
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41.207 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.432 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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0.432 |
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Net Current Assets |
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40.775 |
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MISCELLANEOUS EXPENSES |
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3.646 |
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TOTAL |
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83.341 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.02 |
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Current Ratio (Current Asset/Current Liability) |
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95.39 |
LOCAL AGENCY
FURTHER INFORMATION
FINANCIAL RESULTS:
The company has not undertaken any
manufacturing or trading activities during the period under report and
therefore no profit or loss can be drawn. In view of non- commencement of
trading and manufacturing activities, there have been no financial results of
the company. The project of the company is yet under implementation stage
therefore expenses incurred are yet to be allocated on completion of the
project.
FIXED ASSETS:
- Computers Equipment
- Furniture and Fixture
- Capital Work In Progress
- Building Plant and Machinery
- Electric Installation
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.84 |
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UK Pound |
1 |
Rs.76.81 |
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Euro |
1 |
Rs.64.38 |
RATING
EXPLANATIONS
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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 |
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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 |
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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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