MIRA
INFORM REPORT
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Report Date : |
29.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
NORTH GUJARAT SAT
ISABGUL INDUSTRIES PRIVATE LIMITED |
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Registered Office : |
R S No. 1361,
State Highway (North Gujarat), Unjha - 384170, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2003 |
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Date of Incorporation : |
17.04.1976 |
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Com. Reg. No.: |
04-2894 |
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CIN No.: [Company
Identification No.] |
U01135GJ1976PTC002894 |
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IEC No.: |
0888024967 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMN01860F |
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PAN No.: [Permanent
Account No.] |
AAACN5173E |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturing, Supplying and Exporting of supreme
psyllium products and accessories such as psyllium husk, psyllium powder,
etc. |
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 82000 |
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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 experience and respectable businessmen. Trade relations are
reported as fair. Business is active. Payments are usually correct and as per
commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. The company has
not filed any financials with the Government Departments. We spoke to Mr.
Himanshu Patel, who parted some general information, but refused to part with
latest financials. |
LOCATIONS
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Registered Office/ Factory : |
R S No. 1361,
State Highway (North Gujarat), Unjha - 384170, Gujarat, India. |
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Tel. No.: |
91-2767-253602 |
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Mobile No.: |
91-9824387785/
9825031099 |
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Fax No.: |
91-2767-252404 |
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E-Mail : |
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Website : |
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Area : |
1100000 sq. ft.
[Owned] |
DIRECTORS
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Name : |
Mr. Patel
Narendrakumar Kanjibhai |
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Designation : |
Director |
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Address : |
Ambapura, Unjha -
384170, Gujarat, India. |
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Date of Birth/Age : |
05.09.1954 |
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Date of Appointment : |
17.04.1976 |
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Name : |
Mr. Patel
Kiritkumar Gangaram |
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Designation : |
Director |
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Address : |
4, Mahavir
Bunglows, At. Unjha, Mehsana - 384170, Gujarat, India. |
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Date of Birth/Age : |
17.07.1951 |
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Date of Appointment : |
17.04.1976 |
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Name : |
Mr. Patel
Dhanjibhai Gangaram |
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Designation : |
Director |
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Address : |
Divya Colony,
Taluka Unjha, Mehsana - 384170, Gujarat, India. |
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Date of Birth/Age : |
30.10.1940 |
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Date of Appointment : |
17.04.1976 |
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Name : |
Mr. Patel Navinchandra
Kanjibhai |
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Designation : |
Director |
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Address : |
12, Bharat
Colony, Nr. Sardar Patel Colony, Ahmedabad – 380 014, Gujarat, India. |
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Date of Birth/Age : |
18.10.1944 |
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Date of Appointment : |
01.02.1978 |
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Name : |
Mr. Harshadray Natwarlal
Raval |
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Designation : |
Director |
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Name : |
Mr. Kanjibhai
Lalludas Patel |
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Designation : |
Director |
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Name : |
Mr. Himanshu
Narendra Patel |
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Designation : |
Additional
Director |
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Address : |
Nr. G.L.Patel High
School, At. Unjha, Mehsana – 384 170, Gujarat, India. |
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Date of Birth/Age : |
01.02.1980 |
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Date of Appointment : |
15.06.2006 |
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Name : |
Mr. Mihir
Narendra Patel |
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Designation : |
Director |
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Date of Birth/Age : |
28 Years |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Narendrakumar
Kanjibhai Patel |
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3500 |
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Padmaben Narendra
Patel |
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2600 |
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Himanshu Narendra
Patel |
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1650 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing, Supplying and Exporting of
supreme psyllium products and accessories such as psyllium husk, psyllium
powder, etc. |
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Products : |
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Exports : |
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Countries : |
USA,
European nations, Middle East and other parts of the world |
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Terms : |
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Selling : |
L/C and Cash |
PRODUCTION STATUS
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Particulars |
Unit |
Actual
Production |
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Psyllium Husk, Psyllium Powder, Industrial Powder and
Cattle Feed |
M.T Monthly |
450-500 |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
20 |
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Bankers : |
Dena Bank, Unjha Station
Road, Unjha, Gujarat, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
N Shah &
Associates Chartered
Accountant |
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Memberships : |
Pharmexil,
Export Promotion Council |
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Associates/Subsidiaries : |
Patel Kanjibhai
Lalludas Address : State Highway (North Gujarat), Unjha - 384170, Gujarat,
India Activities :
Trading and Commission |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.000 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2003 |
31.03.2002 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.000 |
1.000 |
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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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19.517 |
20.698 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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20.517 |
21.698 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.034 |
0.000 |
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TOTAL |
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20.551 |
21.698 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.487 |
0.798 |
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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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0.187 |
0.187 |
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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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Sundry Debtors |
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Cash & Bank Balances |
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19.963 |
21.854 |
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Other Current Assets |
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Loans & Advances |
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Total Current Assets |
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19.963 |
21.854 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.086 |
1.141 |
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Provisions |
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0.000 |
0.000 |
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Total Current Liabilities |
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1.086 |
1.141 |
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Net Current Assets |
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18.877 |
20.713 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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20.551 |
21.698 |
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KEY RATIOS
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PARTICULARS |
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31.03.2003 |
31.03.2002 |
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Debt Equity Ratio (Total
Liability/Networth) |
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0.05 |
0.05 |
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Current Ratio (Current
Asset/Current Liability) |
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18.38 |
19.15 |
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE DETAILS
Profile
Bad digestion is one of the
major problems faced by the majority of people in the world. Psyllium possess many
magical qualities and is mainly used as a dietary fiber which is not absorbed
by the small intestine. Although its main use has been that of a laxative, it
is more appropriately termed as a true dietary fiber. Subject is engaged in manufacturing,
supplying and exporting of supreme psyllium products and accessories such as
psyllium husk, psyllium powder, etc. The entity has earned a reputed
position in every client's heart. They are administered by sound management
principles at every level of manufacturing process. Their impeccable quality,
wide distribution network, timely delivery and competent prices provide us an
additional edge over other competitors in the same arena.
Quality
Assurance
They
follow rigid quality control procedures, commencing right from the purchase of
raw materials to the delivery of final products. Enough care is taken while
purchasing the raw materials by also employing the material harvested from
their own land. The whole manufacturing process is done by using ultra modern
equipments under the supervision of highly expert personnel in order to keep
alive the miraculous qualities of psyllium seed. World class packaging prevents
the goods from any sort of contamination, damage and also keeps its freshness
alive.
Infrastructure
Their company is fully equipped with the best infrastructural facilities in
order to manufacture an array of superlative products. They possess highly
efficient manpower coupled with an ultra- modern machinery which perfectly
matches with their equation of producing inimitable range of products.
Moreover, their capability to feed the bulk demand paves the way to earn a
reputed platform in the same discipline. They always promote fair and
transparent trade practices and welcome queries and suggestions from their
esteemed clients.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.39.47 |
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UK Pound |
1 |
Rs.77.98 |
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Euro |
1 |
Rs.57.92 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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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 |
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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47 |
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 |
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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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