MIRA
INFORM REPORT
|
Report Date : |
09.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
R S VANIJYA PRIVATE LIMITED |
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Registered Office : |
4/ 1 A , Jagmohan Mullick Lane, Kolkata – 700 007, West
Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
31.10.1996 |
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Com. Reg. No.: |
081897 |
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CIN No.: [Company
Identification No.] |
U51420WB1996PTC081897 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Bright Bars, Sheet Plate and Structural Fabrication,
Washer Wire etc. |
RATING &
COMMENTS
|
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 117000 |
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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 : |
Management denied business and financial details. Subject is a well established company having satisfactory track. Trade
relations are fair. Payments are reported as correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
4/ 1 A , Jagmohan Mullick Lane, 4th Floor, Kolkata – 700
007, West Bengal, India |
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Tel. No.: |
91-33-40046075 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr. Aman Saraogi |
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Designation : |
Director |
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Address : |
CL – 239, Sector – II, Salt Lake City, Kolkata – 700 091, West Bengal,
India |
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Date of Birth/Age : |
14.11.1978 |
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Date of Appointment : |
23.05.2000 |
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DIN or Income-tax PAN : |
00578126 |
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Name : |
Mr. Manish Agarwal |
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Designation : |
Director |
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Address : |
CA – 12, Ground Floor, Salt Lake, Sector – 1, Kolkata – 700 064, West
Bengal, India |
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Date of Birth/Age : |
20.01.1976 |
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Date of Appointment : |
12.06.2008 |
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DIN or Income-tax PAN : |
00945431 |
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Name : |
Mrs. Radha Sonthalia |
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Designation : |
Director |
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Address : |
CL – 239, Sector – II, Salt Lake City, Kolkata – 700 091, West Bengal,
India |
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Date of Birth/Age : |
10.10.1964 |
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Date of Appointment : |
01.01.2003 |
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Date of Ceasing : |
22.07.2008 |
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DIN or Income-tax PAN : |
00524039 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2008
|
Names of Shareholders |
No. of Shares |
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Achchidanand Sharma |
1600 |
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Rajiv Nandan Sharma |
4000 |
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Saraogi Aman |
5000 |
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Total |
10600 |
As on 30.09.2008
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Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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Directors
or relatives of directors |
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47.00 |
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Other
top fifty shareholders |
|
53.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Bright Bars, Sheet Plate and Structural Fabrication,
Washer Wire etc. |
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Products : |
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PRODUCTION STATUS As on 31.03.2008
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Particulars |
Unit |
Actual
Production |
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M.S. Bright Bar |
MT |
440 |
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Colour Master Batches |
MT |
7377 |
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Plastic Films |
MT |
4508 |
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Plastic Sheet |
MT |
3153 |
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Licensed Capacity and Installed Capacity per annum
– 24600 MT
GENERAL
INFORMATION
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Bankers : |
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Facilities : |
Secured Loans :
Unsecured Loans :
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Bidasaria and Associates Chartered Accountants |
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Address : |
14, Princep Street, 3rd Floor, Room No.5, Kolkata – 700
072, West Bengal, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
10600 |
Equity Shares |
Rs.10/- each |
Rs.0.106
million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.106 |
0.106 |
0.106 |
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2] Share Application Money |
19.356 |
19.356 |
7.856 |
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3] Reserves & Surplus |
3.947 |
0.712 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(0.010) |
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NETWORTH |
23.409 |
20.174 |
7.952 |
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LOAN FUNDS |
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1] Secured Loans |
149.197 |
1.722 |
1.657 |
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2] Unsecured Loans |
200.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
349.197 |
1.722 |
1.657 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
372.606 |
21.896 |
9.609 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
27.001 |
27.056 |
27.408 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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739.703
|
599.245 |
459.483 |
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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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766.704 |
626.301 |
486.891 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
506.606
|
167.870 |
136.686 |
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Sundry Debtors |
65.334
|
344.007 |
5.271 |
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Cash & Bank Balances |
0.682
|
19.581 |
0.520 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
167.081
|
67.787 |
317.006 |
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Total
Current Assets |
739.703
|
599.245 |
459.483 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
392.167
|
604.405 |
477.197 |
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Provisions |
1.931
|
0.000 |
0.085 |
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Total
Current Liabilities |
394.098
|
604.405 |
477.282 |
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Net Current Assets |
345.605
|
(5.160) |
(17.799) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
372.606 |
21.896 |
9.609 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
1790.367 |
NA |
NA |
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Other Income |
0.006 |
NA |
NA |
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Total Income |
1790.373 |
NA |
NA |
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Profit/(Loss) Before Tax |
4.751 |
1.391 |
0.014 |
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Provision for Taxation |
1.516 |
0.669 |
0.062 |
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Profit/(Loss) After Tax |
3.235 |
0.722 |
(0.048) |
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Earnings in Foreign Currency : |
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Export Earnings |
1155.730 |
1184.789 |
NA |
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Total Earnings |
1155.730 |
1184.789 |
NA |
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Imports : |
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Raw Materials |
479.011 |
229.262 |
NA |
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Total Imports |
479.011 |
229.262 |
NA |
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Total Expenditure |
1790.913 |
NA |
NA |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
0.18
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NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
0.27
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NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.62
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0.22 |
0.00 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.20
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0.07 |
0.00 |
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Debt Equity Ratio (Total Liability/Networth) |
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31.75
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30.04 |
60.23 |
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Current Ratio (Current Asset/Current Liability) |
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1.88
|
0.99 |
0.96 |
LOCAL AGENCY
FURTHER INFORMATION
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified
|
80017774 |
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Corporate
identity number of the company |
U51420WB1996PTC081897 |
|
Name of the
company |
R S VANIJYA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
4/ 1 A , Jagmohan Mullick Lane, Kolkata – 700 007, West
Bengal, India |
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Type of charge |
Immovable
Property |
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Particular of
charge holder |
Punjab National Bank, B.R.B.B. Road Branch, 135, B.R.B.B. Road,
Kolkata – 700 001, West Bengal, India E-Mail: ghoshbasuassociates@yahoo.co.in |
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Nature of
description of the instrument creating or modifying the charge |
Deposit of Title
Deed. No instrument has been executed. |
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Date of
instrument Creating the charge |
22.09.2008 |
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Amount secured by
the charge |
Rs.126.500
millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Extent and
Operation of the charge: The company mortgage of its two plots of land
admeasuring 2.827 cottahs (Approx.) situated at Maza Kharial J.L. No. 96,
Khatian Nos. 414/ 1, 710, 63/ 1, 451/ 3, 188 Dag Nos. 576, 577, 624 and 1295,
P.O. Dankuni Coal Complex, P.S. Dankuni, Hooghly as collateral security for
Packing Credit of Rs.126.500 millions, FOBP/ FPUBP Rs.126.500 millions, LC
Rs.10.000 millions, LG Rs.10.000 millions Total of FB and NFB ceiling
Rs.126.500 millions sanctioned to S.R. Enterprise. Prop. – S.R. Niryat
Private Limited. (CIN : U25200WB2007PTC120538) |
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Short particulars
of the property charged |
The company
mortgage of its two plots of land admeasuring 2.827 cottahs (Approx.)
situated at Maza Kharial J.L. No. 96, Khatian Nos. 414/ 1, 710, 63/ 1, 451/
3, 188 Dag Nos. 576, 577, 624 and 1295, P.O. Dankuni Coal Complex, P.S.
Dankuni, Hooghly as collateral security for Packing Credit of Rs.126.500 millions,
FOBP/ FPUBP Rs.126.500 millions, LC Rs.10.000 millions, LG Rs.10.000 millions
Total of FB and NFB ceiling Rs.126.500 millions sanctioned to S.R.
Enterprise. Prop. – S.R. Niryat Private Limited. (CIN :
U25200WB2007PTC120538) |
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Date of latest modification
prior to the present modification |
28.06.2008 |
BUSINESS:
Rs. in Millions
|
Sales |
|
31.03.2008 |
31.03.2007 |
|
M.S. Bright Bar |
|
12.034 |
9.532 |
|
M.S. Febricated Structure |
|
0.608 |
37.319 |
|
Colour Master Batches |
|
548.021 |
469.281 |
|
Lay Flat Tube |
|
0.000 |
201.523 |
|
Plastic Film |
|
355.235 |
253.373 |
|
Plastic Sheet |
|
209.815 |
162.243 |
|
Others |
|
664.654 |
98.995 |
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Total |
|
1821.5978 |
1263.4967 |
FIXED ASSETS:
- Air
Conditioner
- Electric
Installation
- Land at
Baidyabati
- Plant and
Machinery
- Land and
Building
- Motor Cycle
- Computer
- Furniture and
Fixtures
- Factory Shed
- Tools and
Fixtures
- Weighing
Scale
- Motor Car
- Software
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.49.22 |
|
UK Pound |
1 |
Rs.73.03 |
|
Euro |
1 |
Rs.63.14 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
5 |
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--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 |
|