MIRA
INFORM REPORT
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Report Date : |
11.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
HEGDE AGRO IMPEX PRIVATE LIMITED |
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Registered Office : |
2nd KM, BK Road, Sagar - 577401, Karnataka |
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Country : |
India |
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Date of Incorporation : |
22.01.2008 |
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Com. Reg. No.: |
045023 |
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CIN No.: [Company
Identification No.] |
U51101KA2008PTC045023 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Importer of Agriculture Machination Tools |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and expects to register sales of Rs.50.000
Millions in 2008-09. Sales can be of mainly import and trading. Its payments
are usually correct. However, since it is a new company, initially it should be recommended
on safe and secured trade terms and conditions, only. |
INFORMATION PARTED
BY
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Name : |
Mr. K. V. Laxminarayan |
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Designation : |
Director |
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Contact No.: |
91-9449803404 |
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Date : |
05.07.2008 |
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Name : |
Mr. Sanjay Hegde |
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Designation : |
Son of Director |
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Date : |
05.07.2008 |
LOCATIONS
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Registered Office/ Factory : |
2nd KM, BK Road, Sagar - 577401, Karnataka, India |
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Tel. No.: |
91-8183-229731 |
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Mobile No.: |
91-9449803404 |
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Fax No.: |
91-8183-228781 |
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E-Mail : |
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Website : |
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Area : |
˝ hed. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. K. V. Laxminarayan |
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Designation : |
Director |
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Date of Birth/Age : |
50 years |
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Qualifications : |
B. Sc. |
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Name : |
Mrs. Ravi Kamat |
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Designation : |
Director |
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Date of Birth/Age : |
47 years |
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Name : |
Mr. Vinay Hedge |
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Designation : |
Director |
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Date of Birth/Age : |
22 years |
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Qualifications : |
M. BA |
KEY EXECUTIVES
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Name : |
Mr. Sanjay Hegde |
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Designation : |
Son of Director |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 14.01.2008)
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Names of Shareholders |
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No. of Shares |
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Mr. K. V. Laxminarayan |
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16670 |
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Mr. Ravi Kamat |
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16666 |
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Mr. Vinay Hedge |
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16664 |
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Total |
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50000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Importer of Agriculture Machination Tools |
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Products : |
Agriculture Machination Tools |
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Imports : |
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Products : |
Garden Tools |
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Countries : |
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Terms : |
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Purchasing : |
T.T. |
GENERAL
INFORMATION
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No. of Employees : |
20 (Office – 5 and Factory – 15) |
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Bankers : |
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Facilities : |
The company do not enjoy facilities from its Bankers. |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Shridhar and Company Chartered Accountant |
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Address : |
91-818-3226525 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 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]
As the subject is a new company, no financials are available.
LOCAL AGENCY
FURTHER INFORMATION
Website
Details
Profile:
Formed on 2007, located at the heart of the horticultural area-SAGAR,
Karnataka State-India, the company aims to provide cost-effective solutions to
agriculture, which helps the farming community to manage the farming sector in
a professional way.
Today, though it is a profitable sector, Agriculture field
is lagging behind because of the acute labor problem. The promoter, who is
active both as a Progressive Former and Industrialist, knows the importance of
quality management and marketing in agriculture and proposes to solve the
day-to-day problems in agriculture and horticulture, especially, labor problem
by providing mechanical equipments at affordable prices to the common farmers.
The company aims to provide farming solutions to Indian farmers by importing
& marketing quality products and after-sales services thro’ its various
branches located at important horticultural areas.
About
the promoter:
Having come from a reputed agricultural family, the promoter has a natural
instinct of taking the agriculture to a new height, wherein the dependency on
the labour is minimized to a great extent without compromising the yield.
- Around 26
years ago he started an industry to cater the needs of agriculture and
designed a machine for manufacturing leaf-cups from the areca sheathes
which were considered as a waste in the agriculture. Today, where the
environmental awareness about the hazards of the plastics are gaining
momentum, these biodegradable leaf cups are a boon to many people like out
door caterers, star hotels etc. Also these machines are generating
additional income to those farmers who are interested in value addition to
agriculture products.
- In order to
effectively utilize the available water resources in his Hegde Farm at
Sagar, he devised a new technique called microsprinkler irrigation, where
in maximum area is wetted using minimum water and power thro’ a device
called Microsprinkler. He got the “Plast India Award” in the year 1997 for
this invention. Today it is well known as “Hegde’s sprinkler” and most of
the farmers in South India are being benefited from these microsprinklers.
- About 10
years ago, a new concept of organic fertigation is introduced in his Hegde
Farm at Sagar, in which the organic manures and farm waste are collected
along with water in a single tank called DIGESTER and the extract from this
is fed in to the irrigation water to get the maximum utilization of the
manure. This method helps the farmers to utilize the manures to the
maximum extent and reduce their dependency on labour. In 2002, The
Government of Karnataka recognized his service to the agriculture and
honored him with the unique award “Krishi Pandita-2001” for the First
Time. Along with this, he is honoured with many awards in the field of
Agriculture and Industry.
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.43.16 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.67.95 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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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16 |
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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