MIRA
INFORM REPORT
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Report Date : |
19.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
AMBIENCE AIR-TECH PRIVATE LIMITED |
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Registered Office : |
101 Parvati Palace, Ayre Road, Dombivali (East), Thane – 421 201,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
22.06.2000 |
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Com. Reg. No.: |
11-127331 |
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CIN No.: [Company
Identification No.] |
U52603MH2000PTC127331 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA22685F |
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PAN No.: [Permanent
Account No.] |
AACCA8722G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Sale and Servicing of Air Condition and Refrigeration Equipments, Cooling
Equipments, Electronics Instruments and Equipments and House-hold Appliances.
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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 2852 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company in its field. Trade relations
are fair. Business is active. Payments are reported as slow but correct. The company
can be considered for small to mediocre business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
101 Parvati Palace, Ayre Road, Dombivali (East), Thane – 421 201,
Maharashtra, India |
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Tel. No.: |
91-22-25091428/ 25091429 |
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Fax No.: |
91-22-25128537 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Pradeepan Krishna Eerikal Pillai |
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Designation : |
Director |
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Address : |
101 Parvati Palace, Ayre Road, Dombivali (East), Thane – 421 201,
Maharashtra, India |
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Date of Birth/Age : |
10.05.1967 |
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Date of Appointment : |
22.06.2000 |
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Name : |
Mr. Vijaykumar Parameshwaran Chelipeli Pillai |
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Designation : |
Director |
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Address : |
Building No. 5, Room No. 3, Sector 5, Shivkrupa Apartments, Airoli,
Navi Mumbai – 400 708, Maharashtra, India |
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Date of Birth/Age : |
27.07.1964 |
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Date of Appointment : |
22.06.2000 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Pradeepan Krishna Eerikal Pillai |
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8590 |
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Mr. Vijaykumar Chelipeli |
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7030 |
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Total |
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15620 |
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Names of Shareholders |
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Percentage of
Holding |
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Directors or relatives of Directors
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Sale and Servicing of Air Condition and Refrigeration Equipments,
Cooling Equipments, Electronics Instruments and Equipments and House-hold
Appliances. |
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Products : |
* Air Condition
and Refrigeration Equipments * Cooling
Equipments * Electronics Instruments
* Equipments and
House-hold Appliances |
GENERAL
INFORMATION
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Bankers : |
Citizencredit Co-operative Bank Limited Kurla Branch, Sai Dham Co-Op Housing Society, Premier
Road, Kurla (West), Mumbai – 400 070, Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Tripathi and Associates Chartered Accountants |
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Address : |
Building S/11, Flat No. 14, LIC Colony, Borivali (West), Mumbai – 400
103, Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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15620 |
Equity Shares |
Rs. 10/- each |
Rs. 0.156 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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15620 |
Equity Shares |
Rs. 10/- each |
Rs. 0.156
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.156 |
0.156 |
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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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0.557 |
0.298 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.713 |
0.454 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.018 |
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2] Unsecured Loans |
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0.555 |
0.000 |
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TOTAL BORROWING |
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0.555 |
0.018 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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1.268 |
0.472 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.141 |
0.164 |
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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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0.448 |
0.838 |
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Sundry Debtors |
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4.171 |
0.582 |
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Cash & Bank Balances |
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0.945 |
0.107 |
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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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2.205 |
1.246 |
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Total
Current Assets |
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7.769 |
2.773 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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6.650 |
2.475 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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6.650 |
2.475 |
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Net Current Assets |
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1.119 |
0.298 |
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MISCELLANEOUS EXPENSES |
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0.008 |
0.010 |
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TOTAL |
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1.268 |
0.472 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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18.786 |
12.036 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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18.786 |
12.036 |
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Profit/(Loss) Before Tax |
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0.500 |
0.162 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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0.500 |
0.162 |
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Expenditures : |
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Interest |
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0.011 |
0.008 |
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Depreciation & Amortization |
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0.053 |
0.052 |
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Other Expenditure |
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18.222 |
11.814 |
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Total Expenditure |
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18.286 |
11.874 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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2.66 |
1.34 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.66 |
1.34 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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6.32 |
5.51 |
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Return on Investment (ROI) (PBT/Networth) |
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0.70 |
0.35 |
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Debt Equity Ratio (Total Liability/Networth) |
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11.10 |
6.49 |
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Current Ratio (Current Asset/Current Liability) |
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1.16 |
1.12 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8
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This form is for |
Creation of charge |
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Corporation identity number (CIN) or foreign company registrations number of the company |
U52603MH2000PTC127331 |
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Name of the company |
AMBIENCE AIR-TECH PRIVATE LIMITED |
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Address |
101 Parvati Palace, Ayre Road, Dombivali (East), Thane – 421 201, Maharashtra, India |
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Type of Charges |
Movable property |
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Whether consortium finance is involved |
No |
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Whether joint charge involved |
No |
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Number of charge holder(s) |
1 |
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Particular of the charge holder |
Citizencredit Co-operative Bank Limited Kurla Branch, Sai Dham Co-Op Housing Society, Premier Road, Kurla (West), Mumbai – 400 070, Maharashtra, India |
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Nature or description of the instrument creating or modifying the charge |
Agreement of hypothecation of vehicle |
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Date of the instrument creating charge |
08.11.2007 |
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Whether charge created or modified outside India |
No |
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Amount Secure by the charge |
Rs. 1.077 million |
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Brief particulars of the principal terms and conditions and extent and operation of the charge |
Rate of Interest: interest @ 12% p.a. (payable monthly) (Bank’s PLR, subject to changes as per Bank’s discretion) Terms of repayment: to repay Term Loan of Rs. 1.077 million alongwith interest, in 48 monthly installments commencing 1 month from the date of 1st disbursement Margin: security margin @ 20% Extent and operation of the charge: repayment of Term Loan of Rs. 1.077 million alongwith interest, in 48 monthly installments commencing 1 month from the date of 1st disbursement |
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Short particulars of the Property charged |
Purchase of vehicles A] Toyota Innova G4 (STR) and B] Maruti Omni LPG Cargo E/3. |
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Whether any of the property or interest therein under reference is not registered in the name of the company |
No |
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Name of the company |
AMBIENCE
AIR-TECH PRIVATE LIMITED |
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Presented
By |
Mr.
E Krishna Pradeepan Pillai and Mr. C P Vijaykumar Pillai |
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1) Date and description of instrument creating the change |
Agreement of hypothecation of vehicle dated 01.07.2002 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Term Loan Rs. 0.210 million |
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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 |
Maruti Omni – 5 (E2) Van MH-03-S-2461 |
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4) Gist of the terms and conditions and extent and operation of the charge. |
To secure the repayment of loan of Rs. 0.210 million on demand with interest @ 13.00% p.a. (subject to change from time to time) and incidental charges. |
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5) Name and Address and description of the person entitled to the charge. |
Citizencredit Co-operative Bank Limited Kurla Branch, Sai Dham Co-Op Housing Society, Premier Road, Kurla (West), Mumbai – 400 070, Maharashtra, India |
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6) Date and brief description of instrument modifying the charge |
N A |
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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. |
N A |
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.70 |
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UK Pound |
1 |
Rs.77.98 |
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Euro |
1 |
Rs.59.02 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
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 |
NO |
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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
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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 |
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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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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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