MIRA
INFORM REPORT
|
Report Date : |
09.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
GLOBE CAPITAL MARKET LIMITED |
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Registered Office : |
609, Ansal Bhawan, 16, K. G. Marg, Connaught Place, New Delhi-110001 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
27.06.1985 |
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Com. Reg. No.: |
55-21350 |
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CIN No.: [Company
Identification No.] |
L74100DL1985PLC021350 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELG07132G |
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PAN No.: [Permanent
Account No.] |
AAACG4267G |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Trading Outfit offering a comprehensive set of broking services. |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 5100000 |
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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 fine track. Financial
position is good. Payments are correct and as per commitments. The company is doing well. It can be considered good for normal business dealings at usual trade
terms and conditios. |
INFORMATION PARTED
BY
|
Name : |
Mr. Manish Agarwal |
|
Designation : |
Head of Operation |
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Date : |
30.06.2008 |
LOCATIONS
|
Registered Office : |
609, Ansal Bhawan, 16, K. G. Marg, Connaught Place, New Delhi-110001,
India |
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Tel. No.: |
91-11-30412345 |
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Fax No.: |
91-11-23720883/ 23766739 |
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E-Mail : |
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Website : |
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Area : |
Approximately 1000 sq ft (Rented) |
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Corporate Office : |
612, Ansal Bhawan, 16, K.G. Marg, Connaught Place, New Delhi-110001,
India |
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Tel. No.: |
91-11-30412345 |
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Fax No.: |
91-11-23720883 / 23766739 |
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E-Mail : |
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Area : |
Approximately 1000 sq ft (Rented) |
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Branch Office : |
115-A, Mittal Towers, A-Wing, Nariman Point, Marine Lines,
Mumbai-400020, Maharashtra, India |
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Tel. No.: |
91-22-22833865 |
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Brach Office: |
1001, Ansal Bhawan, 16 K.G. Marg, Connaught Place, New Delhi-110001,
India |
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Tel. No.: |
91-11-43666500/ 4152096/ 23720889 |
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Fax No.: |
91-11-23737410 |
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E-Mail : |
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Area : |
Approximately 1000 sq ft (Rented) |
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Branch Office : |
804, Ansal Bhawan, 16, K.G. Marg, Connaught Place, New Delhi-110001,
India |
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Tel. No.: |
91-11-4366400/ 23316916/20 |
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Fax No.: |
91-11-23720880/ 23712630 |
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E-Mail : |
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Area : |
Approximately 1000 sq ft (Rented) |
DIRECTORS
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Name : |
Mr. Ashok Kumar Agarwal |
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Designation : |
Additional Director |
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Address : |
C-335, Saraswati Vihar, Pitampura, Delhi-110034, India |
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Date of Birth/Age : |
05.07.1958 |
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Date of Appointment : |
17.01.2007 |
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Other Directorship: |
M Gaggarwal Stock Brokers Private Limited J B M Auto Components Private Limited |
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Name : |
Mrs. Alka Agarwal |
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Designation : |
Director |
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Address : |
C-335, Saraswati Vihar, Pitampura, Delhi-110034, India |
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Date of Birth/Age : |
20.01.1968 |
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Name : |
Mrs. Alka Mendiratta |
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Designation : |
Director |
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Address : |
335, Deepali, Pitampura, Delhi-110034, India |
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Date of Birth/Age : |
28.12.1963 |
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Name : |
Mrs. Surbhi Bansal |
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Designation : |
Director |
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Address : |
A-6002, Gaur Green City, Ghaziabad-201010, Uttar Pradesh, India |
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Date of Birth/Age : |
02.11.1977 |
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Date of Appointment : |
28.03.2008 |
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Name : |
Mr. Sunil Kumr Jain |
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Designation : |
Director |
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Address : |
C-479, Defence Colony, New Delhi-110024, India |
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Date of Birth/Age : |
27.11.1962 |
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Date of Appointment : |
28.03.2008 |
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Name : |
Mr. Arun Kumar Gupta |
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Designation : |
Director |
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Address : |
79, Engineers Enclaves, Pitampura, Delhi-110034, India |
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Date of Birth/Age : |
14.09.1959 |
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Date of Appointment : |
28.03.2008 |
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Name : |
Mr. Ahok Sen Jundal |
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Designation : |
Director |
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Address : |
A-6002, Gaur Green City, Ghaziabad, Uttar Pradesh, India |
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Date of Birth/Age : |
02-11-1977 |
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Date of Appointment : |
28-03-2008 |
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Name : |
Mr. Surender Kumar Jain |
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Designation : |
Director |
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Address : |
C-479, Defence Colony, New Delhi-110024, India |
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Date of Birth/Age : |
27-11-1962 |
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Date of Appointment : |
28-03-2008 |
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Name : |
Mr. Jayanta Kumar Basu |
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Designation : |
Director |
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Address : |
B-427 GF, New Friends Colony, New Delhi – 110065 |
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Date of Birth/Age : |
09-11-1965 |
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Date of Appointment : |
02-02-2008 |
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Name : |
Mr. Mahesh Chand Gupta |
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Designation : |
Director |
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Address : |
C-39, Anand Vihar, New Delhi – 110092, India |
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Date of Appointment : |
17-01-2007 |
KEY EXECUTIVES
|
Name : |
Mr. Manish Agarwal |
|
Designation : |
Head of Operation |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
|
List of Allottees |
No. of Equity Shares |
No. of Cumulative
preference Shares |
|
CVCIGP II Client Rosehill Limited |
140233 |
10660 |
|
CVCIGP II Employee Rosehill Limited |
78539 |
5971 |
|
Gautam Nayak (trustee) Keshav Bhujale (Trustee) |
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|
a) CVCIGP II Ajay Relan Trust |
804 |
61 |
|
b) CVCIGP II Vivek Chhachhi Trust |
67 |
5 |
|
c) CVCIGP II Jayanta Basu Trust |
27 |
2 |
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d) CVCIGP II Vinayak Shenvi Trust |
27 |
2 |
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e) CVCIGP II Ajay Tandon Trust |
27 |
2 |
|
Total |
219724 |
16703 |
Equity Share Breakup (Percentage of Total Equity
As on 30.09.2007
|
Category |
|
Percentage |
|
Bodies corporate (not mentioned above) |
|
26.00 |
|
Directors or relatives of directors |
|
74.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading Outfit offering a comprehensive set of broking services. |
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Products : |
ACCOUNT OPENING DEMAT / REMAT PLEDGE/HYPOTHECATION LENDING/ BORROWING
TRANSACTION PROCESSING DEPOSITORY PARTICIPANT Globe Group is a depository participant with the following two major
depositories of India:
TRADING PLATFORMS Globe Group offers a variety of trading platforms for its clients:
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL
INFORMATION
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Customers : |
All over India |
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No. of Employees : |
300 ( Office 75, Branch 225) |
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Bankers : |
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Facilities : |
OD |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Atul and Rajender Chartered Accountant |
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Address : |
201, Sitaram Mansion 718, Joshi Road, Karol Bagh, New Delhi-110005, India |
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Memberships : |
STOCK EXCHANGE MEMBERSHIP Globe Group has trading membership of the following exchanges:
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 28.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1250000 |
Equity Shares |
Rs. 10/-
each |
Rs. 12.500
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
12.500 |
17.500 |
17.500 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
1026.999 |
597.056 |
264.680 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
1039.499 |
614.556 |
282.180 |
|
|
LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
3.690 |
2.588 |
1.832 |
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TOTAL |
1043.189 |
617.144 |
284.012 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
21.997 |
16.517 |
12.066 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
15.881 |
31.303 |
26.431 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
480.306
|
264.469 |
181.349 |
|
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Sundry Debtors |
9.500
|
12.977 |
9.275 |
|
|
Cash & Bank Balances |
4038.548
|
3150.848 |
1593.140 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
361.749
|
654.189 |
342.348 |
|
Total
Current Assets |
4890.103
|
4082.483 |
2126.112 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
3698.426
|
3411.224 |
1840.485 |
|
|
Provisions |
186.366
|
101.935 |
40.112 |
|
Total
Current Liabilities |
3884.792
|
3513.159 |
1880.597 |
|
|
Net Current Assets |
1005.311
|
569.324 |
245.515 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
1043.189 |
617.144 |
284.012 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
0.000 |
0.000 |
0.000 |
|
|
Other Income |
741.234 |
571.924 |
237.676 |
|
|
Total Income |
741.234 |
571.924 |
237.676 |
|
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|
|
|
|
|
|
Profit/(Loss) Before Tax |
629.183 |
464.267 |
171.483 |
|
|
Provision for Taxation |
199.240 |
131.890 |
49.921 |
|
|
Profit/(Loss) After Tax |
429.943 |
332.377 |
121.562 |
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Expenditures : |
|
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|
|
|
|
Salaries, Wages, Bonus, etc. |
24.247 |
16.607 |
9.711 |
|
|
Managerial Remuneration |
3.600 |
3.600 |
0.480 |
|
|
Payment to Auditors |
0.068 |
0.083 |
0.038 |
|
|
Depreciation & Amortization |
4.633 |
3.234 |
1.748 |
|
|
Other Expenditure |
79.503 |
84.133 |
54.216 |
|
Total Expenditure |
112.051 |
107.657 |
66.193 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
58.00
|
58.11 |
51.15 |
|
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|
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|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
0.00 |
0.00 |
|
|
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|
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|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.81
|
21.71 |
8.02 |
|
|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.61
|
0.76 |
0.61 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.73
|
5.72 |
6.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26
|
1.16 |
1.13 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified
|
10002065 |
|
Corporate
identity number of the company |
L74100DL1985PLC021350 |
|
Name of the
company |
GLOBE CAPITAL MARKET LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
609, Ansal Bhawan, 16, K. G. Marg, Connaught Place, New Delhi-110001,
India |
|
Type of charge |
Book Debts |
|
Particular of
charge holder |
Canara Bank, NSE Branch, Connaught Circus, New Delhi-110001, Delhi,
India |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement Re:
Advances against Book Debs as Prime security |
|
Date of
instrument Creating the charge |
01.10.2007 |
|
Amount secured by
the charge |
Rs. 150.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @3%
above ongoing BPLR with a minimum of 15.50%p.a. Terms of
Repayment As per Agreement Margin As per Agreement Extent and
Operation of the charge 100% Others Guarantee / Book
Debts limit of Rs. 150.000 Millions |
|
Short particulars
of the property charged |
Hypothecation by
way of Ist charge on the borrowers present and future Book Debts, Outstanding
Moneys, receivable claims, Bills which are now due and owing or which may at
any time hereafter during continuance if this security become due and owing
to the borrower in the course of its business by any person, firm, company or
by the Government or any local, public body or authority. |
|
Date of latest
modification prior to the present modification |
|
|
Particulars of
the present modification |
The Guarantee /
Book Debts limits stand enhanced to Rs. 150.000 Millions. Other term and
condition remain same. |
|
Name of the company |
GLOBE CAPITAL MARKET LIMITED |
|
Presented By |
Canara Bank, NSE Branch, Connaught Circus, New Delhi-110001, Delhi,
India |
|
1) Date and description of instrument creating the change |
03.02.2004 Counter Identity |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 40.000
Millions |
|
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 |
Counter Indemnity
given by the Company in favour of the bank for bank having agreed to issued
Guarantees favoaring NSCL on behalf of the Company |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
All amounts
payable under the Bank Guarantee Limit of Rs. 40.000 Millions, shall carry
interest/ bank charges as may be prescribed by the bank form time |
|
5) Name and Address and description of the person entitled to the charge. |
Canara Bank, NSE Branch, Connaught Circus, New Delhi-110001, Delhi,
India |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
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. |
Not Applicable |
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
|
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 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
59 |
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, we have no basis upon which to
recommend credit dealings |
No Rating |
|