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MIRA
INFORM REPORT
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Report Date : |
21.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
BAJAJ HOLOGRAPHICS (INDIA) PRIVATE LIMITED |
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Registered Office : |
S 21, B Lane No 12, Anand Parbhat Industrial Area, West Delhi,
Delhi-110 005 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
09.01.1997 |
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Com. Reg. No.: |
55 - 84395 |
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CIN No.: [Company
Identification No.] |
U29309DL1997PTC084365 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELB04530B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Hologram and Holographic 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 36280 |
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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. Directors are reported as experienced and respectable businessmen. 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 : |
S-21-B, Lane No. 12, Anand PArbat Industrial Area, West Delhi,
Delhi-110 005 |
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Tel. No.: |
91-11-26386231 |
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Fax No.: |
91-11-26386018 |
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E-Mail : |
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Website : |
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Head Office/Factory : |
Plot No. 150, Sector-6, IMT, Manesar, Gurgaon-122 050, Haryana, India |
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Tel. No.: |
91-124-4367150 |
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Fax No.: |
91-124-4367144 |
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E-Mail : |
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Delhi Office : |
Z-25, Phase-II, Okhla, Industrial Area, New Delhi-110 020, India |
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Tel. No.: |
91-11-26386228 / 6231 / 8509 / 8461 |
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Fax No.: |
91-11-26386018 |
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Mobile No.: |
91-9810291501 |
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E-Mail : |
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Mumbai Office : |
B/203, Sai Vikas Appartment, Sai Baba Nagar, Mira Road(East), Distt.
Thane, Maharashtra-401 107, India |
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Tel. No.: |
91-22-56269660 |
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Mobile No.: |
91-9821311606 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Uggarsain Bajaj |
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Designation : |
Whole-time Director |
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Address : |
S-21-B, Gali No. 12, Anand Parbat Industrial Area, West Delhi,
Delhi-110 005 |
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Date of Birth/Age : |
05.12.1939 |
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Date of Appointment : |
01.03.2003 |
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Name : |
Mr. Kapil Bajaj |
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Designation : |
Managing Director |
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Address : |
S-21-B, Gali No. 12, Anand Parbat Industrial Area, West Delhi,
Delhi-110 005 |
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Date of Birth/Age : |
20.12.1972 |
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Date of Appointment : |
09.01.1997 |
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Name : |
Mr. Hemraj Bajaj |
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Designation : |
Whole-time Director |
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Address : |
S-21-B, Gali No.12, Anand Parbat Industrial Area, West Delhi,
Delhi-110 005 |
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Date of Birth/Age : |
30.09.1967 |
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Date of Appointment : |
15.11.2001 |
KEY EXECUTIVES
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Name : |
Khursheed Alam and Associates |
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Designation : |
Secretary |
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Address : |
1872, Sector-8, Company Secretaries Faridabad-121 006 |
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Mobile No. : |
91-9811833270 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Uggarsain Bajaj |
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100 |
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Mr. Kapil Bajaj |
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100 |
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Equity Share
Breakup (percentage of total equity) |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Hologram and Holographic Products. |
GENERAL
INFORMATION
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Bankers : |
Canara Bank, Old Railway Road, Gurgaon-122 001, Haryana E-mail: virendradel@gmail.com |
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Banking Relations
: |
Satisfactory |
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Auditors : |
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Name : |
Dinesh Ahuja and Associates Chartered Accountants |
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Address : |
B-390-91, First Floor, Nehru Ground, NIT, Faridabad-121 001, Haryana |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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400000 |
Equity Shares |
Rs.10/-Each |
Rs.4.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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345500 |
Equity Shares |
Rs.10/- Each |
Rs.3.455
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
3.455 |
3.455 |
1.800 |
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2] Share Application Money |
1.465 |
0.661 |
1.176 |
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3] Reserves & Surplus |
4.150 |
3.701 |
2.317 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
9.070 |
7.817 |
5.293 |
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LOAN FUNDS |
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1] Secured Loans |
5.425 |
6.062 |
5.578 |
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2] Unsecured Loans |
8.432 |
5.878 |
3.796 |
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TOTAL BORROWING |
13.857 |
11.940 |
9.374 |
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DEFERRED TAX LIABILITIES |
0.007 |
0.000 |
1.132 |
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TOTAL |
22.934 |
19.757 |
15.799 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
17.488 |
17.867 |
17.372 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.008 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
5.204
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3.811 |
1.116 |
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Sundry Debtors |
6.132
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3.588 |
2.399 |
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Cash & Bank Balances |
0.574
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0.504 |
0.650 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
1.286
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1.271 |
0.443 |
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Total
Current Assets |
13.196
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9.174 |
4.608 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
7.329
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7.009 |
5.949 |
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Provisions |
0.429
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0.275 |
0.232 |
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Total
Current Liabilities |
7.758
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7.284 |
6.181 |
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Net Current Assets |
5.438
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1.890 |
(1.573) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
22.934 |
19.757 |
15.799 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
25.890 |
20.899 |
27.074 |
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Other Income |
0.161 |
0.598 |
0.622 |
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Total Income |
26.051 |
21.497 |
27.696 |
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Profit/(Loss) Before Tax |
1.111 |
0.385 |
2.572 |
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Provision for Taxation |
0.524 |
0.125 |
0.941 |
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Profit/(Loss) After Tax |
0.587 |
0.260 |
1.631 |
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Expenditures : |
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Change in Stock |
0.252 |
0.870 |
0.361 |
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Other Expenditure |
24.940 |
21.112 |
25.124 |
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Total Expenditure |
25.192 |
21.982 |
25.485 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
2.25
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1.20 |
5.88 |
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Net Profit Margin (PBT/Sales) |
(%) |
4.29
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1.84 |
9.49 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.41
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4.19 |
55.81 |
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Return on Investment (ROI) (PBT/Networth) |
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0.12
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0.04 |
0.48 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.85
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0.93 |
1.16 |
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Current Ratio (Current Asset/Current Liability) |
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0.74
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0.26 |
(0.26) |
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
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This form is for |
Modification of
charge |
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Charge
identification number of the charge to be modified |
80024204 |
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Corporate
identity number of the company |
U29309DL1997PTC084365 |
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Name of the
company |
BAJAJ
HOLOGRAPHICS INDIA PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
S 21 B, Lane No.
12, Anand Parbhat Industrial Area, West Delhi, Delhi-110 005, India |
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Type of charge |
Book Debts Movable Property
(not being pledge) |
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Particular of
charge holder |
Canara Bank, Old
Railway Road, Gurgaon-122 001, Haryana E-mail: virendardradel@gmail.com |
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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 |
06.12.2007 |
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Amount secured by
the charge |
Rs.21.100
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
– Interest on Adhoc Packing Credit limit Rs.2.500 Millions shall be charged
@18.75% per annum with monthly rests. Terms of
repayment - Payable on demand. Margin – As may
be prescribed by the bank from time to time. Extent operation
of the charge – 100 percent. Others – The said
charge is to secure following credit facilities granted by bank to company.
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Short particulars
of the property charged |
v
All stocks
of goods such as raw-materials, goods in process, finished goods and
manufactured goods and other items of stock in trade and stores, spares,
components, machineries, vehicles, furniture and fixtures and all other moveable
goods and properties belonging to borrower. v
All the
borrower’s present and future book-debts, outstanding monies, receivables,
claims etc. |
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Date of latest
modification prior to the present modification |
-- |
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Particulars of
the present modification |
The overall
amount of charge over assets of company. Stands enhanced from: -Rs.18.600
Millions to Rs.21.100 Millions to secure an Adhoc Packing Credit Limit of
Rs.2.500 Millions -Interest on
Adhoc PC limit shall be charged @18.75% per annum with monthly rests -Other terms and
conditions remained the same. |
As per Website Details:
Subject is one of the pioneering company in the field of "Hologram and Holographic Products" in India. It started with a vision to deliver solutions for clients to secure their losses due to duplicity and to protect their brands.
Working with a sole motto of providing value to its client, subject has made
various products innovations over the years and has enhances products value for
its clients. At subject, commitment to quality in all its operations is the
only acceptable way of working. Through constant R and D in the field of
Holography, subject has earned the distinction of bring the first in bringing
various innovative products like Holographic PVC, Shrink Sleeve, Holographic
Tear Tape and 3D Display Hologram. BHI is part of various prestigious
independent associations in the field of holography. They are founder full
member of HOMAI) Hologram Manufacturer Association of India) and registered
full member of IHMA (International Hologram Manufacturers Association).
Services
Subject is able to offer its customers a unique and singular holographic design service. They cover all areas of the design process from packaging through to corporate branding and interior design.
Their standard component sizes range from 4cm/sq. to 60cm/sq. When required,
larger sizes can be produced with a mosaic combination of 60cm/sq. holograms.
Their experience and expertise enables them to offer holographic solutions
while keeping within strict budgetary constraints.
Business:
Manufacturing, Trading, Marketing and Export of all kinds of holographic machines, embossing machine, electro foaming machine, master shooting machine, die cutting machine, computerized plotter, heeb aligner, paper converting machines, packaging machinery, self adhesive tape making machine, plastic processing extrusion plants and other related machinery.
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.39.38 |
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UK Pound |
1 |
Rs.76.90 |
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Euro |
1 |
Rs.57.27 |
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 |
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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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 |
|
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 |
|