MIRA
INFORM REPORT
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Report Date : |
17.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SATKAR LOGISTICS PRIVATE LIMITED |
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Registered Office : |
B-72, IInd Floor Rohit House,
Vishkarma Colony, Tughlakabad M.B.
Road, New Delhi-110044 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
18.07.2005 |
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Com. Reg. No.: |
138779 |
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CIN No.: [Company
Identification No.] |
U00739DL2005PTC138779 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS28303C |
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PAN No.: [Permanent
Account No.] |
AAJCS1643M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in the business of Custom Broking, International Freight
forwarding and related services. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
USD 1680 |
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Status : |
Small company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company meeting its smaller commitments timeously.
Trade relations are fair. Scale of activity is limited. The company can be considered good for smaller business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Amit |
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Designation : |
Manager |
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Date : |
16.07.2008 |
LOCATIONS
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Registered Office : |
B-72, IInd Floor Rohit House,
Vishkarma Colony, Tughlakabad M.B.
Road, New Delhi-110044, India |
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Tel. No.: |
91-11– 26365423 / 26365424 /
26364425 /41802480 / 81 / 82 / 41802484 |
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Fax No.: |
91-11- 41802484 / 26364425 |
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E-Mail : |
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Website : |
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Area : |
600 sq. ft Rented |
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Head Office : |
C-131 , Flatted Factory Complex, Okhla
PH- Ill, New Delhi, India |
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Tel. No.: |
91-11 – 41802480 / 81 / 82 |
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Fax No.: |
91-11 – 41802484 |
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E-Mail : |
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Area : |
600 sq. ft. [Owned] |
DIRECTORS
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Name : |
Mr. Amanpreet Singh |
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Designation : |
Director |
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Address: |
E-134, II floor, kalkaji, Delhi-110019, India |
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Date of Birth/Age : |
29 Years |
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Qualification : |
Graduate |
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Experience : |
5 Years |
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Date of Appointment: |
18.07.2005 |
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Name : |
Mr. Jasbir Singh |
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Designation : |
Director |
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Address: |
K-15 A first floor, Kailash Colony, Delhi-110048, India |
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Date of Birth/Age : |
47 Years |
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Qualification : |
Graduate |
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Experience : |
20-22 Years |
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Date of Appointment: |
18.07.2005 |
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Name : |
Mr. Hardeep Singh |
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Designation : |
Director |
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Date of Birth/Age : |
23 Years |
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Qualification : |
Graduate |
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Name : |
Mr. Jagdeep Singh |
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Designation : |
Director |
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Address: |
A-34, D Story, West Patel Nagar, New Delhi-110008, India |
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Qualification : |
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Name : |
Mr. Harmandeep Singh |
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Designation : |
Director |
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Address: |
F-130, Rajouri Garden, New Delhi-110027, India |
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Date of Birth/Age: |
17.03.1988 |
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Date of Appointment: |
30.05.2007 |
KEY EXECUTIVES
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Name : |
Mr. Amit Kumar |
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Designation : |
Chief Executive Officer [Sales Department] |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
Equity Share Break Up As on 30.09.2007
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Particular |
Percentage |
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Directors or relatives of directors |
100.000 |
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Total |
100.000 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in the business of Custom Broking, International Freight
forwarding and related services. |
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Terms : |
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Purchasing : |
Through D.D. and Cheques |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
25 |
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Bankers : |
HDFC Bank, Nehru Plus Branch, Kalkaji |
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Facilities : |
OD Limit-Rs. 1.500 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
(Chartered Accountant) A-167, Gujranwala Town, Part-I,
Delhi-110033, India |
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Associates/Subsidiaries : |
BAWA IMPEX Address : B-72, IInd
Floor Rohit House, Vishkarma Colony,
Tughlakabad M.B. Road, New Delhi-110044, India Line of Business : Import of goods [Soft Drinks] TRANSTIX Address : B-72,
IInd Floor Rohit House, Vishkarma Colony,
Tughlakabad M.B. Road, New Delhi-110044, India Line of Business: Subject is engaged in the business of Custom Broking, International Freight
forwarding and related services. |
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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 |
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 |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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Above 30.000 |
Expected Sales (2007-08): Rs. 40.000 Millions
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.150 |
0.150 |
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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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0.186 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
(0.024) |
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NETWORTH |
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0.336 |
0.126 |
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LOAN FUNDS |
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1] Secured Loans |
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5.316 |
2.720 |
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2] Unsecured Loans |
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6.498 |
2.100 |
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TOTAL BORROWING |
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11.814 |
4.820 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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12.150 |
4.946 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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9.032 |
3.448 |
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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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0.000 |
0.000 |
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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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0.000 |
0.000 |
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Sundry Debtors |
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6.976 |
1.953 |
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Cash & Bank Balances |
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0.110 |
0.064 |
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Other Current Assets |
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0.642 |
0.213 |
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Loans & Advances |
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0.276 |
0.176 |
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Total
Current Assets |
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8.004 |
2.406 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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4.693 |
0.889 |
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Provisions |
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0.210 |
0.041 |
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Total
Current Liabilities |
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4.903 |
0.930 |
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Net Current Assets |
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3.101 |
1.476 |
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MISCELLANEOUS EXPENSES |
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0.017 |
0.022 |
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TOTAL |
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12.150 |
4.946 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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49.753 |
45.635 |
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Current Ratio (Current Asset/Current Liability) |
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1.632 |
2.587 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES
- DCNK, Karnal
- KAIL, Karnal
- ACJK, New
Delhi
- Trans Asia
Ship line, Delhi
- Freight
connection, Delhi
- Caravel
shipping, delhi
Subject provides services to countries like Europe, Far East,
Bangladesh, Karachi, Gulf Countries, African, Egypt
France and Sri Lanka
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.43.17 |
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UK Pound |
1 |
Rs.86.46 |
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Euro |
1 |
Rs.68.68 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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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 |
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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27 |
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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