MIRA
INFORM REPORT
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Report Date : |
03.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
SPICE LOGISTICS PRIVATE LIMITED |
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Registered Office : |
Plot No. A-88/6, Road No. 2, Mahipalpur Extension, National Highway
-8, New Delhi – 110 037 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
07.10.2002 |
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Com. Reg. No.: |
117244 |
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CIN No.: [Company
Identification No.] |
U63011DL2002PTC117244 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS19707C |
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PAN No.: [Permanent
Account No.] |
AAHCS2233F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged offering proficient and consistent services
in the field of freight forwarding and total logistics solutions to exporters
and importers. |
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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Maximum Credit Limit : |
USD 11000 |
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Status : |
Small Company |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company in its field. Trade relations are
fair. Scale of activity is limited. No complaints have been heard from market
sources. The company can be considered for small to mediocre business dealings. |
LOCATIONS
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Registered Office : |
Plot No.A-88/6, Road No.2, Mahipalpur Extension, National
Highway-8, New Delhi-110 037, India |
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Tel. No.: |
91 - 11 - 26781351 |
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Fax No.: |
91 - 11 - 26781352 |
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E-Mail : |
info@spicelogistics.com
(General Enquiry) career@spicelogistics.com
(Career Opportunities) |
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Website : |
DIRECTORS
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Name : |
Mr. Mukesh Gaba |
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Designation : |
Director |
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Address : |
K – 47A, Kotla Mubarakpur, New Delhi – 110 003, India |
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Date of Appointment : |
07.10.2002 |
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Name : |
Mr. Alok Yadav |
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Designation : |
Director |
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Address : |
757, Sector – 31, Gurgaon – 122 001, Haryana, India |
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Date of Appointment : |
07.10.2002 |
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Name : |
Mr. Sant Ram Patel |
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Designation : |
Director |
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Address : |
3, Man Singh Road, New Delhi – 110 011, India |
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Date of Appointment : |
07.10.2002 |
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Name : |
Mrs. Jyoti Yadav |
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Designation : |
Director |
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Address : |
757, Sector – 31, Gurgaon – 122 001, Haryana, India |
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Date of Appointment : |
09.05.2003 |
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Name : |
Mrs. Kamla Patel |
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Designation : |
Director |
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Address : |
3, Man Singh Road, New Delhi – 110 011, India |
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Date of Appointment : |
09.05.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 29.09.2007
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Names of Shareholders |
No. of Shares |
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Alok Yadav |
10000 |
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Sant Ram Patel |
10000 |
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Total |
20000 |
As on 29.09.2007
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged offering proficient and consistent services
in the field of freight forwarding and total logistics solutions to exporters
and importers. |
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GENERAL
INFORMATION
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Dewan Sood and Company Chartered Accountants |
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Address : |
2482/ 9, Gurudwara Road, Karol Bagh, New Delhi – 110 005, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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20000 |
Equity Shares |
Rs.10/- each |
Rs.0.200 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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20000 |
Equity Shares |
Rs.10/- each |
Rs.0.200
million |
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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 |
0.200 |
0.200 |
0.200 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.093 |
1.047 |
0.637 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.293 |
1.247 |
0.837 |
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LOAN FUNDS |
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1] Secured Loans |
1.043 |
0.304 |
0.000 |
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2] Unsecured Loans |
1.700 |
0.700 |
0.450 |
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TOTAL BORROWING |
2.743 |
1.004 |
0.450 |
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DEFERRED TAX LIABILITIES |
0.063 |
0.049 |
0.042 |
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TOTAL |
5.099 |
2.300 |
1.329 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.476 |
0.960 |
0.387 |
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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 |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
3.181
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1.417 |
1.121 |
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Cash & Bank Balances |
0.314
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0.285 |
0.460 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.634
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0.235 |
0.203 |
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Total
Current Assets |
4.129
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1.937 |
1.784 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
1.494
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0.529 |
0.847 |
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Provisions |
0.012
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0.070 |
0.000 |
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Total
Current Liabilities |
1.506
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0.599 |
0.847 |
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Net Current Assets |
2.623
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1.338 |
0.937 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.002 |
0.005 |
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TOTAL |
5.099 |
2.300 |
1.329 |
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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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17.558 |
NA |
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Other Income |
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0.000 |
NA |
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Total Income |
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17.558 |
NA |
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Profit/(Loss) Before Tax |
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1.711 |
NA |
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Provision for Taxation |
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0.665 |
NA |
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Profit/(Loss) After Tax |
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1.046 |
NA |
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Expenditures : |
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Handling & Transportation Expenses |
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9.944 |
6.824 |
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Operating & Other Expenses |
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5.273 |
3.621 |
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Interest & Financial Charges |
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0.160 |
0.017 |
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Depreciation & Amortization |
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0.470 |
0.216 |
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Total Expenditure |
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15.847 |
NA |
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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 |
(%) |
5.96
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NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
9.74
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NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
25.90
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NA |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.75
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NA |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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1.85
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1.29 |
1.55 |
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Current Ratio (Current Asset/Current Liability) |
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2.74
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3.23 |
2.11 |
LOCAL AGENCY
FURTHER INFORMATION
Note:
The registered office of the company has been shifted from Plot No.84, 1st
Floor, Lal Sing Vasant Kunj Road, Mahipalpur, New Delhi – 110 037 to the
present address w.e.f. 24.08.2007.
Accounts and Finance:
The company has shown a net profit of Rs.1.046 millions (after tax). Out of this Rs.1.000 million has been transferred to General Reserve during the year.
Contingent liabilities not provided for:
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Rs.
in Millions As
on 31.03.2007 |
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In respect of guarantees given by a Bank and counter guarantees given
by the company |
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0.060 |
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FIXED ASSETS:
- Computers
- Office
Equipments
- Air
Conditioner
- Furniture and
Fittings
- Vehicle
WEBSITE DETAILS:
PROFILE:
Subject offers proficient and consistent services in the field of freight forwarding and total logistics solutions to exporters and importers. They focus and aim to provide solutions for business-to-business and business-to-consumer distributors worldwide. They observe global trends and are always in tune with the advancements in the contemporary times.
Subjectwas started to cater to the felt need of exporters and importers, to
have a total transport package. They provide a gamut of services catering to commercial,
industrial and government customers worldwide. They specialize in providing
logistics, freight distribution and warehousing to both foreign and domestic
companies.
Their specialty and expertise encourage them to take on the largest, most complex logistics challenges, whether on a global or domestic scale. Their gamut of services include:
- Air Freight Import / Export
- Sea Freight Import / Export
- Custom Clearence Import / Export
- DTD (Door to Door)
- Exhibitions Handling
- Logistics / Warehousing
Subject aims to provide global excellence for the logistics needs with the blend of cost efficiency and service level to the mark. They'll help save you time and resources by channnelizing the resources by virtue of their vast experience, gained through handling shipments of every type : by sea, air, road and rail. All aspects of freight forwarding including custom clearance, storage and distribution are minutely attended to. Their long standing associations with various airlines and shipping companies comes in handy and helps them in providing you efficient and reliable services.
Commitment is their motto and it is ensured that each project is attended to personally.
Their professional overseas agents network and well positioned offices across India is giving them an edge to serve you better.
Services
AIR FREIGHT EXPORT / AIR FREIGHT IMPORT
Whether you are exporting or importing cargo its their job to ensure speedy movement of the same. They offer an wide variety of express or economy services. They provide both air export and import consolidation services with equal efficiency.
SEA FREIGHT EXPORT / SEA FREIGHT IMPORT
Whether it is large volume cargo to be moved in Full Containers ( FCL) or small shipments to be moved as Less Container Load (LCL) , they do it to get the cargo to and from its destination or origin.
CUSTOM CLEARANCE EXPORT / IMPORT
Established procedures, effective technology and solid relationships with Custom’s authorities help ensure their clients goods are delivered when expected. They manage all documentation and can initiate the clearance process before goods are in transit to expedite clearance.
DOOR TO DOOR SERVICES
Subject shall take responsible care of the cargo from pick up, customs clearance at both ends and delivery to you or the consignee, all under one roof, a single window service.
EXHIBITION CARGO
Time sensitive and exhibition cargo requires experienced handling. They take care and handle such cargo covering complete movement and fulfilling government permissions and various other authorisations for exhibition both in India and overseas.
LOGISTICS / WAREHOUSING
Their warehousing services support inbound and outbound logistics, distribution and aftermarket services in ways that improve inventory management, cycle times, and reduces total operating costs.
Shipment Tracking
SEA FREIGHT
American President
Lines (APL)
Orient Overseas
Container Line
AIR FREIGHT
AIR FREIGHT
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.50.52 |
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UK Pound |
1 |
Rs.75.08 |
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Euro |
1 |
Rs.63.72 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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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 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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29 |
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 |
|
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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