MIRA
INFORM REPORT
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Report Date : |
25.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
VINGIRI POWERTECH PRIVATE LIMITED |
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Formerly Known As : |
VINGIRI POWERTECH |
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Registered Office : |
234, Santoshpur Avenue, Kolkata – 700075, West Bengal |
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Country : |
India |
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Date of Incorporation : |
01.01.2008 |
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Com. Reg. No.: |
121324 |
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CIN No.: [Company
Identification No.] |
U31900WB2008PTC121324 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALV02173D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Dealer and Distributor of electrical products, pamsets, gears, material
handling equipments for areua, SNS power switch gears. |
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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Status : |
New and Small Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and taken over the running business of
erstwhile partnership concern Vingiri Powertech as a going concern. Directors
are reported as experienced and respectable businessmen. Scale of activity is
limited. Payments are reported as slow but correct. The company can be considered for small to mediocre business dealings
with slight caution initially. |
LOCATIONS
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Registered Office : |
234, Santoshpur Avenue, Kolkata – 700075, West Bengal, India |
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Tel. No.: |
91-33-24165787 |
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E-Mail : |
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Area : |
1250 sq. ft. approx |
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Location : |
Owned |
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Branch : |
Patna |
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Area : |
140 sq. ft. |
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Location : |
Owned |
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Corporate Office : |
Kolkata |
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Area : |
50 sq. ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. K. A. Singh |
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Designation : |
Director |
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Date of Birth/Age : |
46 years |
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Qualification : |
Graduate |
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Experience : |
20 years |
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Name : |
Mrs. Vina Singh |
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Designation : |
Director |
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Date of Birth/Age : |
34 years |
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Qualification : |
Under – Graduate |
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Experience : |
4 years |
BUSINESS DETAILS
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Line of Business : |
Dealer and Distributor of electrical products, pamsets, gears,
material handling equipments for areua, SNS power switch gears. |
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Products : |
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Electrical products ·
Pamsets gears ·
Material handling equipments for areua, ·
SNS power switch gears |
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Agencies Held : |
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SNS power switch gears Limited, Chennai ·
Becon hleir Limited, Chennai ·
Jost engineering company Limited, Mumbai ·
Areua Limited, Kolkata ·
Jyoti Limited, Baroda |
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Terms : |
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Selling : |
L/C, Cash and Credit (30 days), Through Bank, A/P |
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Purchasing : |
L/C, Cash and Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
OEM’s |
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No. of Employees : |
Around 7 |
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Bankers : |
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Indian Overseas Bank, Santoshpur ·
UCO Bank, Santoshpur Branch |
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Facilities : |
Discounting of bill, approx Rs.1.000 Million Over Draft approx Rs.0.500 Million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
H. K. Gupta and Company Chartered Accountants |
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Address : |
Kolkata |
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Associates/Subsidiaries : |
Elmech Power System, Kolkata |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity shares |
Rs.10/- each |
Rs.1.000 Million |
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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 |
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FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars (Vingiri Powertech) |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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7.000 |
5.000 |
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Expected Sales (2007-08) : Rs.30.000 Millions (approx)
Sales upto January,2008 : Around Rs.20.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Note :
Company started in 2001, as a proprietory
concern the changed to partnership concern in 2003 and now from 15th
January, 2008 it is an Private Limited Liability Company.
Trade Reference :
·
(NTPC), National Thermal Power Corporation,
Kehalgaon
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National Thermal Power Corporation, Bindachal
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National Thermal Power Corporation, Hingroli
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Kolkata Electric Supplier Corporatic Limited
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Steel Authority India Limited
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Eureneam Corporation India Limited
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.43 |
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UK Pound |
1 |
Rs.77.06 |
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Euro |
1 |
Rs.57.65 |
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 |
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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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