MIRA
INFORM REPORT
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Report Date : |
01.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
D R INTERNATIONAL PRIVATE LIMITED |
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Registered Office : |
G - 72, Kirti Nagar, Delhi-110 015 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
24.06.1996 |
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Com. Reg. No.: |
55 - 79867 |
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CIN No.: [Company
Identification No.] |
U24132DL1996PTC079867 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers, Importers, Exporters, Sellers and Dealers of all types
of plastics and plastic products. |
RATING &
COMMENTS
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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 56252 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track records. Trade relations are fair. Business is active. Payments are
reported as usually 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 : |
G - 72, Kirti Nagar, Delhi-110 015 |
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Email : |
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Factory : |
8/42, Kirti Nagar, Delhi-110 015, India |
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E-Mail : |
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Tel No. : |
91-11-45061900 |
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Fax No. : |
91-11-45061922 |
DIRECTORS
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Name : |
Mr. Nhanwar Lal Jain |
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Designation : |
Director |
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Address : |
GB-22, Shiavji Enclave, New Delhi-110 027, Delhi, India |
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Date of Birth/Age : |
20.05.1956 |
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Date of Appointment : |
24.06.1996 |
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Name : |
Mrs. Madhu Jain |
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Designation : |
Director |
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Address : |
GB-22, Shivaji Enclave, New Delhi-110 027, Delhi, India |
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Date of Birth/Age : |
10.10.1960 |
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Date of Appointment : |
24.06.1996 |
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Name : |
Mr. Mohan Lal Bhati |
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Designation : |
Director |
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Address : |
B-67, 2nd Floor, Sarda Puri, New Delhi-110 015 |
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Date of Birth/Age : |
01.07.1962 |
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Date of Appointment : |
01.08.2000 |
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Name : |
Mr. Rohit Jain |
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Designation : |
Director |
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Address : |
GB-22, Shivaji Enclave, New Delhi-110 015 |
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Date of Appointment : |
03.09.2003 |
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Name : |
Ms. Tina Jain |
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Designation : |
Director |
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Address : |
GB-22, Shivaji Enclave, New Delhi-110 027 |
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Date of Appointment : |
01.10.1998 |
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Name : |
Mr. Naresh shah |
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Designation : |
Director |
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Address : |
E-194, 1st Floor, Greater Kailash-II, New Delhi-110 049 |
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Date of Appointment : |
01.08.2000 |
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Date of Ceasing : |
03.09.2003 |
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Name : |
Mr. Mayur Jain |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
R. K. S. and Associates |
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Designation : |
Company Secretary |
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Address : |
C – 37, JFF Complex, Jhandewalan, Delhi – 110055, India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Bhanwar Lal Jain |
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94300 |
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Mrs. Madhu Jain |
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25100 |
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Bhanwar Lal Jain and Sons |
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65000 |
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Mr.Raghunathmal DOshi |
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26380 |
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R S Doshi and sons |
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41260 |
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Mrs. Asu Ben |
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87240 |
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Mr. Rohit Jain |
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3240 |
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Mr. Mahipal Jain |
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3240 |
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Ms. Tina Jain |
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4240 |
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Arihant Classic and Finance Limited |
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10000 |
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Total |
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360000 |
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Category |
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Percentage |
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Bodies Corporate |
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10.00 |
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Directors or relatives of directors |
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90.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Importers, Exporters, Sellers and Dealers of all types
of plastics and plastic products. |
GENERAL
INFORMATION
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Bankers : |
·
Centurian Bank of Punjab Limited J-2/4, Rajouri Garden, New Delhi-110 027 E-mail: reminder.singh@centurionbop.co.in ·
Citi Bank N A Jeevan Vihar, 3,
Sansad Marg, New Delhi-110 001 ·
ICICI Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Chander Prakash and Company Chartered Accountants |
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Address : |
207, Padma Tower-II, 22, Rajendra Place, New Delhi-110 008 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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360000 |
Equity Shares |
Rs.10/- each |
Rs.3.600
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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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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3.600 |
3.600 |
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2] Share Application Money |
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1.054 |
1.054 |
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3] Reserves & Surplus |
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9.409 |
7.747 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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14.063 |
12.401 |
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LOAN FUNDS |
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1] Secured Loans |
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27.725 |
15.237 |
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2] Unsecured Loans |
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2.923 |
5.023 |
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TOTAL BORROWING |
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30.648 |
20.260 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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44.711 |
32.661 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.115 |
1.460 |
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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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0.600 |
0.600 |
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DEFERREX TAX ASSETS |
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0.059 |
0.022 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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15.517 |
1.176 |
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Sundry Debtors |
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0.804 |
1.351 |
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Cash & Bank Balances |
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0.157 |
0.478 |
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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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38.615 |
34.606 |
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Total
Current Assets |
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55.093 |
37.611 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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11.093 |
6.193 |
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Provisions |
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1.063 |
0.841 |
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Total
Current Liabilities |
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12.156 |
7.034 |
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Net Current Assets |
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42.937 |
30.577 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.002 |
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TOTAL |
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44.711 |
32.661 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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30.845 |
18.381 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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30.845 |
18.381 |
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Profit/(Loss) Before Tax |
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2.698 |
2.259 |
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Provision for Taxation |
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1.026 |
0.827 |
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Profit/(Loss) After Tax |
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1.672 |
1.432 |
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Total Expenditure |
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28.147 |
16.122 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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5.42 |
7.79 |
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Net Profit Margin (PBT/Sales) |
(%) |
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8.75 |
12.29 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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4.80 |
5.78 |
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Return on Investment (ROI) (PBT/Networth) |
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0.19 |
0.18 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.86 |
0.56 |
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Current Ratio (Current Asset/Current Liability) |
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3.87 |
4.93 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
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Name of the company |
D R INTERNATIONAL PRIVATE LIMITED |
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Presented
By |
- |
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1) Date and description of instrument creating the change |
Goods Security
Agreement Dated 28.05.2003 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Working Capital
Facilities Fund Based
Rs.3.000 Millions (Rupees Three Million Only) Non Fund Based
Rs.5.000 Millions (Rupees Five Millions Only) |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
First Exclusive
Charge on all present and future stocks and Book debts of the company. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Repayable on demand Cash credit at 13.0% Per Annum Other Interest rates as per RBI mandated rates specified from time to
time. |
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5) Name and Address and description of the person entitled to the charge. |
Citi Bank N A Jeevan Vihar, 3,
Sansad Marg, New Delhi-110 001 |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
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This form is for |
Creation of
charge |
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Charge
identification number of the charge to be modified |
- |
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Corporate
identity number of the company |
U24132DL1996PTC079867 |
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Name of the
company |
D R INTERNATIONAL
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
G-72, Kirti
Nagar, New Delhi-110 015, India |
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Type of charge |
Others Corporate Guarantee
of the Company |
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Particular of
charge holder |
Centurion Bank of
Punjab Limited J-2/4, Rajouri
Garden, New Delhi-110 027 |
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Nature of description
of the instrument creating or modifying the charge |
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Date of
instrument Creating the charge |
28.06.2007 |
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Amount secured by
the charge |
Rs.122.500
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
as per bank norms Terms of
repayment as per bank norms Margin as per
bank norms Extent operation of
the charge The charge operates as continuing security inter alia, for the due
repayment by the company to the bank to the extent of Rs.122.500 Millions
together with interest, additional interest, liquidated damages, premia on
repayment costs, charges, expenses and all other moneys payable by the
company to the bank in terms of the loan agreements and bank norms from time
to time. |
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Short particulars
of the property charged |
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Date of latest
modification prior to the present modification |
N.A. |
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Particulars of
the present modification |
N.A. |
The Registered Office of the Company was G-72,
Kirti Nagar, New Delhi-110 015 it has been shifted to present w.e.f. 21.08.2007
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.39.39 |
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UK Pound |
1 |
Rs.78.45 |
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Euro |
1 |
Rs.58.26 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
YES |
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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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45 |
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 |
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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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