MIRA
INFORM REPORT
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Report Date : |
08.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
ALLIED RADIATORS PRIVATE LIMITED |
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Registered Office : |
232/234, Motiwala Mansion, M A Road, TWO Tank, Mumbai – 400 008,
Maharashtra. |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
28.03.2006 |
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Com. Reg. No.: |
160802 |
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CIN No.: [Company
Identification No.] |
U29191MH2006PTC160802 |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer of Radiators. |
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 4000 |
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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. The company can be considered for small to mediocre business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Dawood Nadkar |
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Designation : |
Director |
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Contact No.: |
91-9322295663 |
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Date : |
05.12.2008 |
LOCATIONS
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Registered Office : |
232/234, Motiwala Mansion, M A Road, TWO Tank, Mumbai – 400 008,
Maharashtra. |
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Email : |
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Corporate Office : |
Plot No.59, Chemical Zone Taloja MIDC, Panvel – 410208, Maharashtra,
India. |
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Tel. No. / Fax No.: |
91-22-27401054 |
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Mobile No.: |
91-9892027003 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Dawood Nadkar |
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Designation : |
Director |
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Address : |
5th M.E.Sarnag Marg, Hyder Mansion, 2/8 And 9, Dongri,
Mumbai – 400009, Maharashtra, India. |
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Date of Birth/Age : |
01.06.1957 |
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Qualification : |
B.A.Honurs |
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Date of Appointment : |
28.03.2006 |
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Name : |
Mr. Imtiyaz Nadkar |
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Designation : |
Director |
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Address : |
5th M.E.Sarnag Marg, Hyder Mansion, 2/8 And 9, Dongri,
Mumbai – 400009, Maharashtra, India. |
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Date of Birth/Age : |
14.08.1982 |
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Qualification : |
BE Mech. |
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Date of Appointment : |
28.03.2006 |
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Name : |
Mr. Najmunnisa Nadkar |
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Designation : |
Director |
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Address : |
5th M.E.Sarnag Marg, Hyder Mansion, 2/8 And 9, Dongri,
Mumbai – 400009, Maharashtra, India. |
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Date of Birth/Age : |
01.06.1958 |
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Qualification : |
BA |
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Date of Appointment : |
28.03.2006 |
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Name : |
Mr. Parveen Nadkar |
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Designation : |
Director |
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Address : |
5th M.E.Sarnag Marg, Hyder Mansion, 2/8 And 9, Dongri, Mumbai
– 400009, Maharashtra, India. |
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Date of Birth/Age : |
13.04.1987 |
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Qualification : |
MBBS |
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Date of Appointment : |
28.03.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 31.08.2007
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Names of Shareholders |
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No. of Shares |
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Mr. Dawood Nadkar |
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3500 |
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Mr. Najmunnisa Nadkar |
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2000 |
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Mr. Praveen Nadkar |
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1000 |
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Total |
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6500 |
AS ON 31.03.2007
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Other top fifty shareholders |
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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 : |
Manufacturer of Radiators. |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Cash and Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
12 (in office 2 + 10 in factory ) |
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Bankers : |
Duncan Road Branch,
176-A/178, Maulana Azad road, Mumbai – 400008,
Maharashtra, India. |
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Facilities : |
Subject enjoy’s cash and credit facilities of Rs. 1.000 Million from
its bankers. |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Dave and Khivansara Chartered Accountant |
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Address : |
37, Shreenath Bhawan, Picket Road, Lohar Chawl, Kalbadevi, Mumbai –
400002, Maharashtra, India. |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- Each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
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 |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.703 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.703 |
0.100 |
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LOAN FUNDS |
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1] Secured Loans |
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1.076 |
0.000 |
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2] Unsecured Loans |
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0.503 |
0.000 |
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TOTAL BORROWING |
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1.579 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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2.282 |
0.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.686 |
0.000 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.889 |
0.057 |
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Sundry Debtors |
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0.922 |
0.000 |
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Cash & Bank Balances |
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0.116 |
0.000 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.140 |
0.000 |
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Total
Current Assets |
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2.067 |
0.057 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.320 |
0.000 |
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Provisions |
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0.184 |
0.000 |
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Total
Current Liabilities |
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2.504 |
0.000 |
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Net Current Assets |
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(0.437) |
0.057 |
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MISCELLANEOUS EXPENSES |
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0.033 |
0.043 |
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TOTAL |
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2.282 |
0.100 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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3.500 |
2.271 |
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Total Income |
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3.500 |
2.271 |
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Profit/(Loss) Before Tax |
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NA |
0.003 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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- |
- |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.13 |
- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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47.78 |
- |
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Return on Investment (ROI) (PBT/Networth) |
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0.001 |
- |
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Debt Equity Ratio (Total Liability/Networth) |
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5.80 |
0.57 |
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Current Ratio (Current Asset/Current Liability) |
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0.82 |
1 |
LOCAL AGENCY
FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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Excise Registration No.:
AAFCA6687DXM001 |
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VAT : 27380549147V |
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PAN / TAN : AAFCA6687D |
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Bank Name : Union
Bank of India |
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Bank Address : M.A.Road
Mumbai – 400008 |
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Bank A/c. No.: 50431 |
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Account Since : 16
years (old customer) |
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Corporate
identity number of the company |
U29191MH2006PTC160802 |
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Name of the
company |
ALLIED RADIATORS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
232/234, Motiwala Mansion, M A Road, TWO Tank, Mumbai – 400 008,
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 |
Union Bank of India Duncan Road Branch, 176-A/178, Maulana Azad road, Mumbai – 400008,
Maharashtra, India. |
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Nature of
instrument creating charge |
Hypothecation
agreement of goods and debts (SD-06) |
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Date of
instrument Creating the charge |
24.07.2006 |
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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 |
Interest at the rate
of 11% per annum with monthly rests or at such other revised rate/s as may be
prescribed by the bank from time to time for the cash credit (hyp.)/sod book
debts limit of Rs.0.500 millions granted by the bank to the company. Margin: - 25% against
stocks and 40% against book debts. |
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Particulars of
the property charged |
Hypothecation by
way of first charge in favour of the bank. 1.stock of raw
material, stock in process, finished goods belonging to the borrower and
stored at the borrower’s godowns or premises at taloja or wherever else the
same may be including in transit and 2. the borrower’s
sundry debtors, book debts, out standings, monies, deposits, receivables,
claims and bills, contracts, securities, investments due and owing both present
and future. |
TRADE REFERENCES
Ř
Premier Limited, Pune
Ř
Vora Distribution Company Private Limited, Mumbai
AS PER WEB SITE DETAILS
Profile
They - are the manufacturer, supplier and exporter of precision engineered radiators.
Their company is a group of young, dedicated, qualified and experienced people,
who are committed to provide complete satisfaction to their esteemed clients.
Since their inception, they have introduced a wide range of Radiators and have
been serving a large segment of automobile industry. They manufacture and
export agricultural machinery radiator, cars radiator, D. G. sets radiator,
earth moving equipment radiator, jeeps radiator, locomotives marines radiator,
special vehicles radiator, trucks radiator, radiator core and radiator core
SHT-3,4,5.
They make use of superior quality raw material, which are procured from
authentic sources. They also keep a strict vigilance at every stage of product
development, which ensures international standards in their finished range of
products. They can also custom manufacture radiators to suit the mechanism of
light as well as heavy motor vehicle.
Product Information
They
work with an objective to provide complete satisfaction to their esteemed
clients. Their company strives to manufacture and export premium quality
radiator for light weight and heavy weight machines at competitive prices. They
offer:
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Agricultural
Machinery Radiator |
Cars
Radiator |
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D. G.
Sets Radiator |
Earth
Moving Equipment Radiator |
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Jeeps
Radiator |
Locomotives
Marines Radiator |
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Special
Vehicles Radiator |
Trucks
Radiator |
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Radiator
Core |
Radiator
Core SHT-3 |
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Radiator
Core SHT-4 |
Radiator
Core SHT-5 |
Quality
They attribute
their success to the quality of radiators they offer. Their superior quality is
an outcome of several quality measures, which they follow at their unit. First
the raw material is properly tested by their quality checking inspectors. After
this, the products are considered ready for manufacturing. The manufacturing
takes place under the supervision of senior experts. Subsequently, the finished
products are checked again to detect manufacturing faults and address them if
necessary.
Infrastructure
They
have installed a state of the art machinery at their manufacturing unit. Their
infrastructure comprises of the entire range of necessary machines and
equipment to pay attention to every section of their business and quality
requirement. They have a huge array of workforce working with the help of the
latest machinery available in market at their manufacturing unit. Their
technicians and workforce are well equipped with latest equipment and tools,
which enables them to manufacture best quality products.
Technical Expertise
They
adhere to cost effective production methods of manufacturing and strive hard
for the optimal use of their resources. Their system help us to offer their radiators
at competitive prices. They are particular about timely delivery of
consignments and strive hard to deliver consignment within the stipulated
period of time.
Pricing and Delivery
They
adhere to cost effective production methods of production and strive hard for
the optimal use of their resources. Their system help us to offer their
radiators at competitive prices. They are particular about timely delivery of
consignments and strive try hard to deliver consignment within the stipulated
period of time.
Packaging
They
carry a separate packaging division well supported by packaging experts. High
emphasis is being laid upon the quality of packaging material in order to
ensure that the products’ shape and quality remain intact even after long distance
transportation.
Customer Satisfaction
They
strive to provide complete satisfaction to their esteemed customers with their
quality products. They manufacture superior quality products, which are
technically correct, economical and on-time delivery service to their expanding
customer base. They realize that their progress depends upon the relation with
their customers. Over a span of years they have been able to carve a niche for
ourselves in market.
Their Strengths
- High level of expertise
- State-of-the-art infrastructure equipped
with latest machinery
- Pool of engineers and dedicated
workforce
- Access to authentic sources to procure
raw material
- Quality conforms to international
standards
- Strong network of dealers and
distributors
- Capable of providing bulk delivery
within a short period of time
- Safe packaging to ensure intact delivery
- Industry leading prices
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.49.69 |
|
UK Pound |
1 |
Rs.72.96 |
|
Euro |
1 |
Rs.63.46 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
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 |
3 |
|
--LEVERAGE |
1~10 |
3 |
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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 |
NO |
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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 |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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 |
|