MIRA
INFORM REPORT
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Report Date : |
31.12.2008 |
IDENTIFICATION DETAILS
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Name : |
SUN NIRMAN INFRASTRUCTURE PRIVATE LIMITED |
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Registered Office : |
A-6, Vivek Vihar, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
13.03.2007 |
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Com. Reg. No.: |
160493 |
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CIN No.: [Company
Identification No.] |
U45200DL2007PTC160493 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS32806E |
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PAN No.: [Permanent
Account No.] |
AAKCS71549R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Builder (Commercial Complex) |
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 334000 |
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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 in its field. Trade relations are fair. Subject’s current year and future performance is expected to be seriously affected due to global meltdown and recession in the industry. It may ultimately effect the payment behaviour of the subject resulting in to delay. The company can be considered for small to mediocre business dealings with slight caution, initially. |
INFORMATION PARTED BY
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Name : |
Mr. Ajay
Aggarwal |
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Designation : |
Director |
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Contact No.: |
Mobile no.91-9811100155 |
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Date : |
27.10.2008 |
LOCATIONS
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Registered Office : |
A-6, Vivek Vihar, |
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Tel. No.: |
91-11-24330281 |
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Mobile No.: |
91-9811100155 |
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Fax No.: |
91-11-24330283 |
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E-Mail : |
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Website : |
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Area : |
1500 Sq. ft. |
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Location : |
Rented |
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Head Office : |
A-283, Defence Colony, |
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Tel. No.: |
91-11-24330281 / 24330282 |
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Fax No.: |
91-11-24330283 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Suresh Paul
Bansal |
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Designation : |
Director |
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Address : |
4, Padmini Enclave, Hauz Khas, |
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Date of Birth/Age : |
19.05.1940 |
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Qualification : |
Engineer |
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Directorship
in other companies : |
·
Pinpoint Infotech Private Limited CIN No.: U72200DL2005PTC139955 ·
Bridge Advisors Private Limited CIN No.: U74140DL2005PTC137544 ·
Princeton Realtors Private Limited CIN No.: U70101DL2005PTC132667 ·
BSB Developers and Realtors Private Limited CIN No.: U45201DL2006PTC147106 ·
BLBS Estates and Developers Private Limited CIN No.: U45201DL2006PTC147111 ·
Princeton Infrastructure Private Limited CIN No.: U45201DL2005PTC135768 ·
Plus Advisors CIN No.: U74140DL2007PTC159049 |
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Name : |
Mr. Ram Behari Lal
Agarwal |
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Designation : |
Director |
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Address : |
A-6, Vivek Vihar, |
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Date of Birth/Age : |
01.08.1931 |
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Qualification : |
Civil Engineer |
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Name : |
Mr. |
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Designation : |
Director |
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Address : |
D-235, Vivek Vihar, |
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Date of Birth/Age : |
18.01.1957 |
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Qualification : |
Chemical Engineer |
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Directorship
in other companies : |
·
Vishnu Food Products Limited CIN No.: U15311DL1987PLC030145 ·
LNG Agricom Private Limited CIN No.: U81109DL2004PTC129788 ·
Progressive Software ( CIN No.: U74899DL1993PTC053782 |
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Name : |
Mr. Ajay
Aggarwal |
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Designation : |
Additional
Director |
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Address : |
A-6, Vivek Vihar, |
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Date of Birth/Age : |
04.10.1958 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.05.2008 |
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Name : |
Mr. Sanjeev Bansal |
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Designation : |
Director |
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Date of Birth/Age : |
40 Years |
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Qualification : |
Graduate |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 15.01.2008
|
Names of
Allottee |
No. of Shares |
|
Ajay Agarwal |
155000 |
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Anshika |
20000 |
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Archit Agarwal |
20000 |
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Chandra Mohan
Agarwal |
20000 |
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K M Agarwal |
105000 |
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Mukta Goel |
45000 |
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Nikita Agarwal |
10000 |
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Princeton
Realtors Private Limited |
3850000 |
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Punam Goel |
110000 |
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R B L Agarwal |
110000 |
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Sanjeev Bansal |
95000 |
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S P Bansal |
300000 |
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Sunita Agarwal |
260000 |
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Tarun Goel |
60000 |
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Tushar Agarwal |
55000 |
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Urmila Agarwal |
20000 |
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Vidyawati Agarwal |
215000 |
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Total |
5450000 |
(AS ON
03.03.2008)
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Names of
Allottee |
No. of Shares |
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Priceton
Infrastructure Private Limited |
450000 |
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Total |
450000 |
(AS ON
08.05.2008)
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Names of
Allottee |
No. of Shares |
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Archit Agarwal |
25000 |
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Chandra Mohan
Agarwal |
50000 |
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K M Agarwal |
75000 |
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Total |
150000 |
(AS ON
01.10.2008)
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Names of
Allottee |
No. of Shares |
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Sanjeev Bansal |
50000 |
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Total |
50000 |
BUSINESS DETAILS
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Line of Business : |
Builder (Commercial Complex) |
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Terms : |
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Purchasing : |
Cash and Credit
(30 days / 60 days / 90 days) |
GENERAL INFORMATION
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No. of Employees : |
140 |
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Bankers : |
·
State Bank of Overseas Branch, Jawahar Vyapar Bhawan,
1, Tolstoy Marg, · Union Bank, Chandni Chowk |
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Facilities : |
CC Rs.70.000 millions, BG Rs.100.000 millions, BG Rs.80.000 millions |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Bindal and Company Chartered Accountants |
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Parent Company : |
· Priston Private Limited Line of Business : Real Estate · BC Exports Tel No.: 91-11-22153389 / 22142206 Line of Business : Exporter of
Sesame Seeds |
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Associates/Subsidiaries : |
·
Pinpoint Infotech Private Limited CIN No.: U72200DL2005PTC139955 ·
Bridge Advisors Private Limited CIN No.: U74140DL2005PTC137544 ·
Princeton Realtors Private Limited CIN No.: U70101DL2005PTC132667 ·
BSB Developers and Realtors Private Limited CIN No.: U45201DL2006PTC147106 ·
BLBS Estates and Developers Private Limited CIN No.: U45201DL2006PTC147111 ·
Princeton Infrastructure Private Limited CIN No.: U45201DL2005PTC135768 ·
Plus Advisors CIN No.: U74140DL2007PTC159049 ·
Vishnu Food Products Limited CIN No.: U15311DL1987PLC030145 ·
LNG Agricom Private Limited CIN No.: U81109DL2004PTC129788 ·
Progressive Software ( CIN No.: U74899DL1993PTC053782 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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6500000 |
Equity Shares |
Rs.10/- each |
Rs.65.000
millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 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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60.000 |
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2] Share Application Money |
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2.000 |
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3] Reserves & Surplus |
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4.761 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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66.761 |
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LOAN FUNDS |
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1] Secured Loans |
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81.426 |
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2] Unsecured Loans |
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6.744 |
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TOTAL BORROWING |
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88.170 |
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DEFERRED TAX LIABILITIES |
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0.850 |
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TOTAL |
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155.781 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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102.276 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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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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14.654 |
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Sundry Debtors |
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110.359 |
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Cash & Bank Balances |
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22.184 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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14.441 |
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Total
Current Assets |
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161.638 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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106.181 |
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Provisions |
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1.952 |
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Total
Current Liabilities |
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108.133 |
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Net Current Assets |
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53.505 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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155.781 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
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Contract Revenue |
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376.419 |
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Other Income |
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1.276 |
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Total Income |
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377.695 |
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Profit/(Loss) Before Tax |
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7.308 |
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Provision for Taxation |
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2.547 |
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Profit/(Loss) After Tax |
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4.761 |
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Expenditures : |
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Contract Expenses |
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332.198 |
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Personnel Expenses |
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18.176 |
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Administrative Expenses |
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10.864 |
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Financial Expenses |
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3.331 |
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Depreciation & Amortization |
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5.818 |
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Total
Expenditure |
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370.387 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
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PAT / Total Income |
(%) |
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1.26 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.94 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.77 |
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Return on Investment (ROI) (PBT/Networth) |
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0.11 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.94 |
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Current Ratio (Current Asset/Current Liability) |
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1.49 |
LOCAL AGENCY FURTHER INFORMATION
TRADE REFRENCES:
- KD
Iron - Kuljeet Khurana,
- Shanti Enterprise - Vijay Gupta,
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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 |
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US Dollar |
1 |
Rs.48.50 |
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1 |
Rs.70.02 |
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Euro |
1 |
Rs.67.95 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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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 |
6 |
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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 |
YES |
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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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30 |
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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