MIRA
INFORM REPORT
|
Report Date : |
29.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ULTRA FEBTECH PRIVATE LIMITED |
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Registered Office : |
Plot No. 3736, Phase – IV, GIDC, Vatva, Ahmedabad – 382 445, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
17.08.2001 |
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Com. Reg. No.: |
04-39890 |
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CIN No.: [Company
Identification No.] |
U29212GJ2001PTC039890 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMU00491B |
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PAN No.: [Permanent
Account No.] |
AAACU5613N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Size Reduction, Gradation and Mixing
Equipments, Guar Gum Plant machinery, CMC plant machinery, Guar and TKP
derivatives plant machinery |
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 1800 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company with a steady business. Scale of
operation is limited. Trade relations are fair. Payments are usually correct and as per
commitments. The company can be considered normal for business dealings at usual
trade terms and conditions |
INFORMATION PARTED
BY
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Name : |
Mr. Mahendra Haribhai Patel |
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Designation : |
Managing Director |
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Contact No.: |
91-9825035746 |
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Date : |
28.07.2008 |
LOCATIONS
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Registered Office / Factory: |
Plot No. 3736, Phase – IV, GIDC, Vatva, Ahmedabad – 382 445, Gujarat,
India |
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Tel. No.: |
91-79-25840662 / 25841353 |
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Mobile No.: |
91-9825035746 |
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Fax No.: |
91-79-25840662 / 25841353 |
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E-Mail : |
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Website : |
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Area : |
500 Sq. ft in Office and 5500 Sq. ft. in Factory. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Mahendra Haribhai Patel |
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Designation : |
Managing Director |
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Address : |
56, Ghanshyam Park Society, B/H, Haripura Housing Board, Maninagar
(east), Ahmedabad – 380 008, Gujarat, India |
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Date of Birth/Age : |
24.06.1967 |
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Experience : |
18 Years |
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Date of Appointment : |
27.08.2001 |
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Name : |
Mr. Vikram Babubhai Patel |
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Designation : |
Director |
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Address : |
101, Vrundavan Apartment, Ramannagar Society, Parmanand Nagar Society,
Maninagar, Ahmedabad – 380 008, Gujarat, India |
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Date of Birth/Age : |
08.05.1973 |
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Experience : |
12 Years |
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Date of Appointment : |
30.12.2006 |
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Name : |
Mr. Jitendra Keshavalal Patel |
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Designation : |
Director |
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Address : |
19, Neelam Apartment, Opp. Vitthalnagar P.O., Jasodanagar, Vatwa,
Ahmedabad – 382 445, Gujarat, India |
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Date of Birth/Age : |
06.06.1969 |
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Date of Appointment : |
17.08.2001 |
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Name : |
Mr. Mansingbhai Gulabdas Salot |
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Designation : |
Director |
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Address : |
19, Neelam Apartment, Opp. Vitthalnagar P.O., Jasodanagar, Vatwa,
Ahmedabad – 382 445, Gujarat, India |
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Date of Birth/Age : |
14.01.1960 |
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Date of Appointment : |
17.08.2001 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
|
Names of Shareholders |
No. of Shares |
|
Mahendra Haribhai Patel |
8000 |
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Vikram Babubhai Patel |
2000 |
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Total |
10000 |
Equity share breakup (percentage of total equity)
(As on 30.09.2007)
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Size Reduction, Gradation and Mixing
Equipments, Guar Gum Plant machinery, CMC plant machinery, Guar and TKP
derivatives plant machinery |
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Products : |
Size Reduction Equipments ·
Ultrafine Pulverizer ·
Flaker ·
Pin Mill ·
Ball Mill (Batch Type) Mixing
Equipments ·
Reaction Blender ·
Ribbon Blender ·
Rib Plough mixer ·
Nauta mixer ·
Vertical Continuous Blender ·
Continuous Mixer ·
Double Cone Mixer Gradation
Equipments ·
Rotary Siever ·
Centrifugal Siever ·
Vibroscreen Guar Gum Plants
Machinery TKP & CMTKP
Plants Machinery C.M.C.
Plants Machinery Chemical
Processing Equipments ·
Reaction Vessel ·
Rotary valve Feeder ·
Screw Conveyor ·
Tray Dryer Other Product ·
Pneumatic Flash Dryer ·
Rotary Air Lock Valve ·
Blower ·
Rotary Table Feeder |
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Exports : |
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Products : |
CMC Plant Machinery Guar Gum Plant Machinery |
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Countries : |
·
Iran ·
Pakistan |
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Terms : |
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Selling : |
L/C, Others – Against Delivery |
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Purchasing : |
Credit (30 days / 60 days) |
GENERAL
INFORMATION
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Customers : |
·
End Users ·
Others |
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No. of Employees : |
26 (In Office 8 and In Factory 18) |
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Bankers : |
Punjab National Bank Vatwa Branch, Ahmedabad – 382 445, Gujarat, India |
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Facilities : |
Rs.2.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Naishadh Shah and Company Chartered Accountants |
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Address : |
First Floor, DK House, Mithakhali, Ahmedabad – 380 009, Gujarat, India |
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Tel. No.: |
91-79-26460175, 3001175 |
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Fax No.: |
91-79-26460175 |
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E-Mail : |
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Associates/Subsidiaries : |
Ashadeep Engineering Works Plot No. 3757, Phase – 4, B/h New Nirma, GIDC, Vatva, Ahmedabad - 382
445, Gujarat, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000 |
Equity Shares |
Rs.10/- each |
Rs.0.300 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.263 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
(0.206) |
(0.203) |
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NETWORTH |
0.363 |
(0.106) |
(0.103) |
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LOAN FUNDS |
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1] Secured Loans |
0.040 |
0.130 |
0.215 |
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2] Unsecured Loans |
0.433 |
0.494 |
0.170 |
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TOTAL BORROWING |
0.473 |
0.624 |
0.385 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.836 |
0.518 |
0.282 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.914 |
0.707 |
0.770 |
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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 |
1.267
|
0.872 |
0.772 |
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Sundry Debtors |
1.264
|
0.938 |
0.295 |
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Cash & Bank Balances |
1.066
|
0.002 |
0.023 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
0.130
|
0.009 |
0.023 |
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Total
Current Assets |
3.727
|
1.821 |
1.113 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
3.735
|
2.002 |
1.603 |
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Provisions |
0.075
|
0.015 |
0.007 |
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Total
Current Liabilities |
3.810
|
2.017 |
1.610 |
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Net Current Assets |
(0.083)
|
(0.196) |
(0.497) |
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MISCELLANEOUS EXPENSES |
0.005 |
0.007 |
0.009 |
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TOTAL |
0.836 |
0.518 |
0.282 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
|
8.398 |
2.234 |
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Other Income |
|
0.008 |
0.005 |
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Total Income |
|
8.406 |
2.239 |
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Profit/(Loss) Before Tax |
|
0.542 |
0.013 |
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Provision for Taxation |
|
0.074 |
0.014 |
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Profit/(Loss) After Tax |
|
0.468 |
(0.001) |
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Total Expenditure |
|
7.864 |
2.226 |
KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
5.57
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(0.04) |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
6.45
|
0.58 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
11.68
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0.51 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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1.49
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(0.12) |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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11.80
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(24.92) |
(19.37) |
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Current Ratio (Current Asset/Current Liability) |
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0.98
|
0.90 |
0.69 |
LOCAL AGENCY FURTHER
INFORMATION
Trade References :
·
Patel Industries
Mr. Bhupesh Patel
Plot No. 5623 / 6, Phase – 2, GIDC, Vatva,
Ahmedabad, Gujarat, India
Tell
No. : 91-79-25894651
Cell
No. : 91-9824024303
·
Kepra Industries
Mr. Pradeep Trivedi
A-301, Anjelina Apartment, Old Police lane,
and off. Sarojini Road, Vile Parle (W), Mumbai – 400 056, Maharashtra, India
Tell
No. : 91-22-6191182
Cell
No. : 91-9820352911
·
V V Eco Gum Manufacturing Private Limited
Mr. Arvindbhai Desai
Plot No. 117, GVMM Industrial Estate, Odhav,
Ahmedabad, Gujarat, India
Tell
No. : 91-79-22901919
Cell
No. : 91-9427806480
·
Encore Natural Polymers Private Limited
Mr. Bharat Joshi
Plot no. 227-233, GIDC, Naroda, Ahmedabad,
Gujarat, India
Tell
No. : 91-79-22822548
Cell
No. : 91-9898943399
Form No. 8
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Corporate
identity number of the company |
U29212GJ2001PTC039890 |
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Name of the
company |
ULTRA FEBTECH PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Plot No. 3736, Phase – IV, GIDC, Vatva, Ahmedabad – 382 445, Gujarat,
India |
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This form is for |
Creation of
charge |
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Type of charge |
·
Book debts ·
Movable
property (not being pledge) ·
Others |
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Particular of
charge holder |
Punjab National Bank Vatwa Branch, Ahmedabad – 382 445, Gujarat, India |
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Nature of
instrument creating charge |
·
Hypothecation
Agreement dated 05.02.2008/ ·
Cash Credit
(Hypothecation) / Book – Debts / PC |
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Date of
instrument Creating the charge |
05.02.2008 |
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Amount secured by
the charge |
Rs.2.000 millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
Interest Rate of Interest BPLR + 1.5% ·
Terms of
repayment As per repayment schedule ·
Margin Margin 25% on Stocks and Margin 51% on Book – Debts ·
Extent and
operation of the charge First Charge ·
Others NIL |
|
Particulars of
the property charged |
The whole of the
Borrower’s stock both present and future inclu. All stocks of raw materials, semi
finished and finished stocks during the con security belong to borrowers etc. All the tangible
movable machinery and plant together with spares tools and accessories and
other movable, both present and future, furnitures and fitting and office
equipments at Plot No.3736 Phase II, Vatwa, Ahmedabad. |
Web Details :
Profile :
Since 1990, Subject has been a renowned in the design and manufacture of
size reduction (grinding) and mixing equipment. Since its inception, subject has
had one overriding commitment: to provide personalized creative engineering
service to the customers. The scope of our products, the depth of our technical
knowledge and wealth of experience serves to bring you the most effective
equipment available today.
Subject is recognized for its technical expertise and its ability to
provide custom designed mixing and size reduction systems to meet the unique
requirements of a broad range of industries. Application includes everything
from sophisticated dry state reaction of natural polymers, pharmaceuticals to
dyes mixing to grinding of polymers to pulses.
They are catering the Indian clients regularly and now since 2004, they have
stepped in to global market. They have started with one of the customers and
they had completed a repeat order too.
Vision
Excellence is a synergy of technology, quality and service. At Company,
right from the inception, they have worked towards enhancing all the three.
In the endeavor to offer the best solutions to the customers, they
entered into strategic alliance with many process consultants & engineering
experts. They constantly upgrade the equipment with the latest technology. This
has gone a long way in helping us to exchange information on latest
technologies, developments and in working together to provide value added
solutions for the ever-growing demanding customers. The quest for excellence
has yielded innovative ultrafine grinders for the size reductions the quest for
excellence has has yielded innovative ultrafine grinders for the size
reductions (grinding) and ploughshare mixer for the mixing and dry state
reactions. Because of the quality and service, their guar gum, guar gum
derivates and tkp derivative plant and machinery have become the most
acceptable.
Customer service at company goes beyond the realm of solving problems
pertaining to the products. They comprise of highly trained technical,
personnel, guar and tkp derivative process experts and other consultants. They
work in close association with the customers. They always bring to the
customers a cost effective solution
The Mission
On the foundation of the core strengths, they aim to expand the
engineering business by being the supplier of choice and creating best value
for the customer.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.30 |
|
UK Pound |
1 |
Rs.84.03 |
|
Euro |
1 |
Rs.66.42 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|