MIRA
INFORM REPORT
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Report Date : |
08.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ABHIMANI PUBLICATIONS PRIVATE LIMITED |
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Registered Office : |
2/4, Dr. Rajkumar Road, Rajaji Nagar, Bangalore – 560010, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
16.03.1988 |
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Com. Reg. No.: |
08-08978 |
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CIN No.: [Company
Identification No.] |
U2212KA1988PLC008978 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRA01802D /
BLRA05226E |
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PAN No.: [Permanent
Account No.] |
AABCA1934D |
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Legal Form : |
Private
Limited Liability company. |
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Line of Business : |
The company is
engaged in providing services of Printing and Publication. |
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 178690 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established company having satisfactory track. Trade relations are fair.
Financial position is good. Payments are correct and as per commitment. The company can
be considered good for any normal business dealings. It can be regarded as a
promising business partner in a medium to long run. |
INFORMATION PARTED
BY
|
Name : |
Mr. Girdhar |
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Designation : |
Export In-Charge |
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Contact No.: |
91-9448364249 |
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Date : |
01.07.2008 |
LOCATIONS
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Registered Office : |
2/4, Dr. Rajkumar Road, Rajaji Nagar, Bangalore – 560010, Karnataka,
India |
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Tel. No.: |
91-80-23123141/ 23126291 |
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Fax No.: |
91-80-23124073 |
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E-Mail : |
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Factory : |
96,
80 Feet Road, Rajaji Nagar, Bangalore – 560 021, Karnataka, India |
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Factory : |
Plot
No. 477E, 4th Phase, Peenya Industrial Area, Bangalore - 560 058,
Karnataka, INDIA |
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Tel. No.: |
91-80-28361294 /
28362260 |
DIRECTORS
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Name : |
Mr.
T. Venkatesh |
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Designation : |
Managing
Director |
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Address : |
No 104, 14th
D Cross 11th Stage , II Phase Mahalakshmipuram, Bangalore – 560086 |
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Date of Birth/Age : |
04/10/1954 |
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Date of Appointment : |
16/03/1988 |
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Name : |
Mr.
T. Nagaraj |
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Designation : |
Director |
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Address : |
No 104, 14th
D Cross 11th Stage , II Phase Mahalakshmipuram, Bangalore – 560086 |
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Date of Birth/Age : |
08/11/1965 |
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Date of Appointment : |
16/03/1988 |
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Name : |
Mr.
S. G. Vijayalakshmi |
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Designation : |
Director |
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Address : |
No 104, 14th
D Cross 11th Stage , II Phase Mahalakshmipuram, Bangalore – 560086 |
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Date of Birth/Age : |
20/01/1961 |
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Date of Appointment : |
16/03/1988 |
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Name : |
Mrs.
Sunanda Chennappa |
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Designation : |
Director |
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Address : |
No 104, 14th
D Cross 11th Stage , II Phase Mahalakshmipuram, Bangalore – 560086 |
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Date of Birth/Age : |
29/07/1962 |
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Date of Appointment : |
16/03/1988 |
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Name : |
Mr. Divakar Venkatesh |
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Designation : |
Additional Director |
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Address : |
105, 14th D Cross, 2nd Phase, 2nd
Stage, Mahalami Puram, W O C Road, Bangalore – 5600086, Karnataka, India |
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Date of Birth/Age : |
01.12.1977 |
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Date of Appointment : |
01.04.2007 |
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Name : |
Mr. Srinivas Venkatesh |
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Designation : |
Additional Director |
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Address : |
105, 14th D Cross, 2nd Phase, 2nd
Stage, Mahalami Puram, W O C Road, Bangalore – 5600086, Karnataka, India |
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Date of Birth/Age : |
13.06.1975 |
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Date of Appointment : |
01.04.2007 |
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Name : |
Mr. Purshottam Venkatesh |
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Designation : |
Additional Director |
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Address : |
105, 14th D Cross, 2nd Phase, 2nd
Stage, Mahalami Puram, W O C Road, Bangalore – 5600086, Karnataka, India |
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Date of Birth/Age : |
13.12.1979 |
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Date of Appointment : |
01.04.2007 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 29.09.2004
|
Names of Shareholders |
No. of Shares |
|
Mr.
T. Venkatesh |
25000 |
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Mr. T. Nagaraj |
25000 |
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Mr. S G Vijayalaxmi |
25000 |
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Mrs. Sunanda
Chennappa |
25000 |
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Total |
100000 |
Equity share breakup
(Percentage of total equity)
As on 31.03.2007
|
Sr. No. |
Category |
Percentage |
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1. |
Directors or relatives of directors. |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The company is
engaged in providing services of Printing and Publication. |
GENERAL
INFORMATION
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No. of Employees : |
200 |
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Bankers : |
v
Indian
Bank K. G. Road Branch, Bangalore – 560 009, Karnataka, India v
Allahabad
Bank Dr. Rajkumar Road, Rajaji Nagar, Bangalore – 560 010,
Karnataka, India v
Janatha Seva
Co-Operative Bank limited v Andhra Bank, Rajajinagar, Rajkumar Road, Bangalore – 560010, Karnataka, India |
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Facilities : |
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Banking Relations
: |
Good |
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Auditors : |
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Name : |
B S Prakash and
Company Chartered
Accountants |
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Address : |
No. 40, F – 1,
Lakshmi Complex, Near Bangalore Medical College, K R Road, Bangalore –
560002, Karnataka, India |
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Parent Company : |
Abhimani
Prakashana |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
100,000 |
Equity shares |
Rs. 100/- each |
Rs. 10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
|
100,000 |
Equity shares |
Rs. 100/- each |
Rs. 10.000 millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
10.000 |
10.000 |
10.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
25.738 |
13.894 |
3.320 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
35.738 |
23.894 |
13.320 |
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LOAN FUNDS |
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1] Secured Loans |
47.920 |
64.727 |
39.365 |
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2] Unsecured Loans |
8.120 |
1.260 |
4.894 |
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TOTAL BORROWING |
56.040 |
65.987 |
44.259 |
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DEFERRED TAX LIABILITIES |
7.892 |
8.861 |
11.794 |
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TOTAL |
99.670 |
98.742 |
69.373 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
62.103 |
46.688 |
46.410 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
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 |
6.134
|
11.845 |
10.670 |
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Sundry Debtors |
64.838
|
66.218 |
33.944 |
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Cash & Bank Balances |
0.164
|
10.080 |
0.377 |
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Other Current Assets |
7.189
|
0.000 |
0.000 |
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Loans & Advances |
8.578
|
10.167 |
12.097 |
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Total
Current Assets |
86.903
|
98.310 |
57.088 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
43.334
|
42.616 |
32.671 |
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Provisions |
6.002
|
3.639 |
1.454 |
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Total
Current Liabilities |
49.336
|
46.255 |
34.125 |
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Net Current Assets |
37.567
|
52.055 |
22.963 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
99.670 |
98.742 |
69.373 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
184.324 |
129.929 |
106.027 |
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Other Income |
9.032 |
14.401 |
9.221 |
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Total Income |
193.356 |
144.330 |
115.248 |
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Profit/(Loss) Before Tax |
11.843 |
10.574 |
0.733 |
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Provision for Taxation |
6.168 |
3.639 |
1.454 |
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Profit/(Loss) After Tax |
5.675 |
6.935 |
(0.721) |
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Expenditures : |
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Raw Material Consumed |
10.103 |
4.530 |
9.056 |
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Purchases made for re-sale |
129.895 |
96.729 |
69.649 |
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Salaries, Wages, Bonus, etc. |
1.905 |
1.187 |
1.470 |
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Payment to Auditors |
0.084 |
0.056 |
0.038 |
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Interest |
6.238 |
6.829 |
10.410 |
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Power & Fuel |
2.856 |
2.730 |
2.106 |
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Depreciation & Amortization |
5.235 |
5.504 |
4.644 |
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Other Expenditure |
25.197 |
16.191 |
17.142 |
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Total Expenditure |
181.513 |
133.756 |
114.515 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
2.93
|
4.80 |
(0.62) |
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Net Profit Margin (PBT/Sales) |
(%) |
6.42
|
8.14 |
0.69 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.12
|
7.33 |
0.64 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.44 |
0.05 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.38
|
1.94 |
2.56 |
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Current Ratio (Current Asset/Current Liability) |
|
1.76
|
2.12 |
1.67 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
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Name of the company |
ABHIMANI PUBLICATIONS PRIVATE LIMITED |
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Presented By |
Andhra Bank, Rajaji Nagar Branch, Bangalore |
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1) Date and description of instrument creating the change |
18.10.2005 Packing Credit Agreement |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 10.000 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 |
v Paper Rolls v Printing Ink v Films |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest a) For first 180 days – 7.25% p.a. b) From 181 day to 270 day – 10.25% p.a. c) From 271 day onwards – 13.25% p.a. d) In case the export does not materialize – 14% p.a. from the date of original advance till the date of repayment. |
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5) Name and Address and description of the person entitled to the charge. |
Andhra Bank, Rajaji Nagar Branch, 558, 2nd Block, Dr. Rajkumar Road, Bangalore - 10 |
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 |
U2212KA1988PLC008978 |
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Name of the company |
ABHIMANI PUBLICATIONS PRIVATE LIMITED |
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Address |
2/4, Dr. Rajkumar Road, Rajaji Nagar, Bangalore – 560010, Karnataka,
India |
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Type of Charges |
v Book Debts v Movable property (not being pledge) |
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Particular of the charge holder |
Name : Andhra Bank Address : Rajaji Nagar (Br), Rajkumar Road City : Bangalore State : Karnataka ISO country code : IN Pin code : 560010 e-mail ID : jayarajpotty@gmail.com |
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Nature or description of the instrument creating or modifying the charge |
Composite Agreement |
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Date of the instrument creating charge |
18.03.2008 |
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Whether charge created or modified outside India |
No |
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Amount Secure by the charge |
Rs. 45.000 millions |
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Brief particulars of the principal terms and conditions and extent and operation of the charge |
Rate ofInterest Presently at 12% Terms of repayment Bank has the power to recall the facility at any time Margin Stock – 25% Receivables – 40% Extent and operation of the charge The charge will last till the whole of the money is repaid. |
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Short particulars of the Property charged |
Stock, and Book debts kept at the regd. Office at the work station. |
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Whether any of the property or interest therein under reference is not registered in the name of the company |
No |
Fixed
Assets
v
Land
v
Building
v
Plant and
Machinery
v
Electrical
Fittings
v
Office
Equipments
v
Furniture and
Fixture
v
Computer
As Per Website Details
The company is also
engaged in providing High quality multi printers and Manufacturers of all sorts
of stationeries.
Working Result :
This is one more
year of good performance of the company. The company has been able to get good
export orders in the current year. Very good performance may be expected in the
current financial year.
Printing and supply
of Text Books 1999-2000 for A value of Rs. 9.200 millions Republic of Ghana,
West Africa.
Items of export
interest of Councils concern : Paper and Paper Products, Books Publications and
Printing
Minimum time
requirement for servicing of export orders : as per customers requirements.
This is
a Publishing Wing of Abhimani Prakashana of which the above directors are
partners. This is one of the lowest volume of publishing houses in Bangalore.
The
circulation of these magazines and fortnightlies are far below normal.
(Abhimani Tropical Fortnightly, Kreedabhimani, Sports Fortnightly).
The
company's List of Publications is as under :
v
Abhimana
- Kannada Daily
v
Abhimani
- Topical Fortnightly
v
Aragini
- Kannada Film Weekly
v
Police
File - Kannada Crime Weekly
v
Kreedabhimani
- Kannada Sports Weekly
v
EE
Sanje - Kannada Evening Daily
v
Taayi
- Womens Monthly
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 :
The 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.
The 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. 43.37 |
|
UK Pound |
1 |
Rs. 85.51 |
|
Euro |
1 |
Rs. 68.08 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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. |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|