MIRA
INFORM REPORT
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Report Date : |
01.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
NORTH STAR TUBES PRIVATE LIMITED |
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Registered Office : |
117, Mittal Chambers, M.G. Road, Secunderabad - 500 003, Andhra
Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
25.01.2005 |
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Com. Reg. No.: |
01-45183 |
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CIN No.: [Company
Identification No.] |
U27107AP2005PTC045183 |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer of Steel Products such as Tubes and Pipes,
Strips and Coil, etc |
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/normal. |
Small |
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Maximum Credit Limit : |
USD 500 |
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Status : |
Small company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company having satisfactory track
records. Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are however
reported as usually correct and as per commitments. The company can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office / Factory: |
117, Mittal Chambers, M.G. Road, Secunderabad - 500 003, Andhra
Pradesh, India |
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Tel. No.: |
91-40-27711003 / 66323900 / 659190001 /
659140001 / 55323900 |
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Mobile No.: |
91-9848040001 / 9848460001 [Ajit Jalan] / 9848860001
[Hasan Ali] / 9848130001 [Vikas Khetan] |
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Fax No.: |
91-40-66323901 / 55323901 |
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E-Mail : |
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Website : |
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Branches : |
14/1, Ground Floor, 2nd Main Road, 8th Cross, Chamarajpet, Bangalore -
560 018 (Karnataka) INDIA |
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Tel. No.: |
91-80-26674040 |
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Mobile No. : |
9448370001/94484 50001 |
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Fax No.: |
91-80-26674040 |
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E-Mail : |
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Branches : |
663,T.H Road, Tondiarpet, Chennai 600 081,
Tamilnadu, INDIA |
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Tel. No.: |
91-44-25984596 |
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Mobile No. : |
91-9441230001 / 9840057423 |
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Fax No.: |
91-44-25984596 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Ramesh Jain |
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Designation : |
Director |
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Address : |
A1/55, Mayuri Apartments, Mayur marg, Begumpet, Hyderabad – 500016,
India |
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Date of Appointment : |
25.01.2005 |
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Name : |
Mr. Syed Hasan Ali |
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Designation : |
Director |
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Address : |
315, SRT, Sanath nagar, Hyderabad - 500018 |
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Date of Appointment : |
25.01.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Ramesh Jain |
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8000 |
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Mr. Syed Hasan Ali |
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2000 |
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Total |
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10000 |
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Category |
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Percentage of
Holding |
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Directors of relatives of directors |
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100.00 % |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Steel Products such as Tubes and Pipes,
Strips and Coil, etc |
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Products : |
Tubes Galvanized Tubes M S Steel Tubes Precission Tubes Strips H R Strips C R Strips Pig Iron |
GENERAL
INFORMATION
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Bankers : |
State Bank of
Hyderabad, Commercial Branch, Secunderabad, Andhra Pradesh, India |
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Facilities : |
----- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
P Mohanna Rao and Company Chartered Accountants |
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Address : |
203, Swagruaha Kalyan Apartments, Plot No. 112 and 113, Kalyan Nagar,
Hyderabad – 500018, Andhra Pradesh, India |
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Associates/Subsidiaries
: |
Nil |
CAPITAL STRUCTURE
Authorised 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 |
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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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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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0.026 |
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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0.126 |
0.100 |
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LOAN FUNDS |
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1] Secured Loans |
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4.002 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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4.002 |
0.000 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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4.128 |
0.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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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0.566 |
0.000 |
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Sundry Debtors |
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8.353 |
1.001 |
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Cash & Bank Balances |
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0.121 |
0.087 |
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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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0.019 |
0.000 |
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Total
Current Assets |
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9.059 |
1.088 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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4.659 |
1.000 |
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Provisions |
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0.285 |
0.005 |
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Total
Current Liabilities |
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4.944 |
1.005 |
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Net Current Assets |
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4.115 |
0.083 |
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MISCELLANEOUS EXPENSES |
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0.013 |
0.017 |
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TOTAL |
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4.128 |
0.100 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover |
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17.590 |
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Other Income |
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0.000 |
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Total Income |
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17.590 |
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Profit/(Loss) Before Tax |
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0.052 |
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Provision for Taxation |
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0.026 |
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Profit/(Loss) After Tax |
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0.026 |
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Total Expenditure |
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17.538 |
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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0.14 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.29 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.57 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.41 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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71.00 |
10.05 |
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Current Ratio (Current Asset/Current Liability) |
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1.83 |
1.08 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges Report as per Registry
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Name of the
company |
NORTH STAR TUBES
PRIVATE LIMITED |
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Presented By |
RAMESH JAIN |
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1) Date and
description of instrument creating the change |
Agreement of cash
Credit dated 04.07.2005 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 2.500
Millions |
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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 |
Hypothecation of
Stock and Book Debts |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest @ 12.25
% |
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5) Name and Address
and description of the person entitled to the charge. |
State Bank of
Hyderabad Commercial Branch Secunderabad |
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6) Date and brief description of instrument
modifying the charge |
NA |
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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. |
NA |
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Corporate
identity number of the company |
U27107AP2005PTC045183 |
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Name of the
company |
NORTH STAR TUBES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
117, Mittal Chambers, M.G. Road, Secunderabad - 500 003, Andhra
Pradesh |
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This form is for |
Modification of
charges |
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Type of charge |
Simple mortgage |
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Particular of
charge holder |
State Bank of
Hyderabad Small
Enterprises, Commercial Branch, R P Road, Secunderabad –
500003, Andhra Pradesh, India |
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Nature of
instrument creating charge |
Supplemental
agreement of way for increase of in the overall limit |
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Date of
instrument Creating the charge |
04.07.2005 |
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Amount secured by
the charge |
Rs. 5.000
Millions |
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Date of instrument
Creating the charge |
19.05.2006 |
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Description of
the property charged indicating whether it is a charged on |
Book debts |
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Charge
identification number of the charge to be modified |
80006105 |
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Bring description
of the instrument modification the charge under section 135 |
Supplemental
agreement of loan for increase is its overall limit |
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Particular of the
present modification |
Limits increased
loan 2.5 millions to 5.0 millions |
AS PER WEBSITE
Subject is a leading Representative of Manufacturers in
South India for various steel products. Their Head Office is in Secunderabad
(A.P) INDIA, and they are having 2 branch offices located at Bangalore and
Chennai.
They work in close co-ordination with their clients to
deliver products that are in exact accordance to the specifications mentioned
by the clients.
Mission
The Mission of subject is to strengthen their position as
the leader in their product lines. Excellence through Quality, Product Innovation
and Technology Up-gradation is the North Star Tubes Mission. Commitment to
Customers, Overcoming Challenges is North Star Tubes Creed. The Vision of the
company is to become a leader in all its product lines.
Core Values
» Customer Loyalty
» Customer Satisfaction
» Commitment to Quality
» Continuous Communication
Range
of products they deal with :-
» Steel Tubes : ˝” dia to
16” dia
» G I pipes :
˝ “ dia to 16” dia
» Precission Pipes :
12.70 mm OD to 63.50 mm OD
» Sections :
HR / CR both matching of all above
» Pregalva steel tubes :
All above matching
» Pig Iron :
Foundary grade / special grade
» High Mast/ Tubular Poles :
Polygonal Pole up to 14m height, design as per ILE TR-7:2000 and BS 5649
The exact range of product can be observed in the particular product range
Team
:-
Mr RAMESH JAIN , M.Sc ( TECH ) ( BITS PILANI )
MANAGING DIRECTOR
Mobile : +91-98480-40001
Email : rj@northstartubes.com
Mr HASAN ALI
DIRECTOR ( FUNDS / ADMINISTRATION )
Mobile : +91-98488-60001
Email : hasan@northstartubes.com
Mr
AJIT JALAN
HEAD ( ACCOUNTS / SALES )
Mobile : +91-98484-60001
Email : ajit@northstartubes.com
Mr VIKAS KHETAN
( FIELD ACTIVITIES)
Mobile : +91-98481-30001
Email : vikas@northstartubes.com
Mr AHMED KHAN
FIELD ACTIVITIES
Mobile : +91-98487-20001
Email : ahmed@northstartubes.com
ASSOCIATES
LOCATION:-
PUNE - pune@northstartubes.com
RAIPUR - raipur@northstartubes.com
MUMBAI - om@northstartubes.com
KOLKATA - mittal@northstartubes.com
KATHMANDU ( NEPAL ) - vishal@northstartubes.com
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.40.90 |
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UK Pound |
1 |
Rs.80.78 |
|
Euro |
1 |
Rs.55.18 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--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 |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
28 |
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/normal. |
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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