MIRA
INFORM REPORT
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Report Date : |
29.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
CYBELE PARADISE PRIVATE LIMITED |
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Registered Office : |
111, Industrial Area, Sion (East), Mumbai – 400022, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
02.03.2005 |
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Com. Reg. No.: |
151707 |
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CIN No.: [Company
Identification No.] |
U92199MH2005PTC151707 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in the business of entertainment and gaming zone |
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 350000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a 3 years old company having moderate track. The company
has some accumulated losses. Trade relations are fair. Payments are reported
as slow nut correct. The company can be considered good for small to mediocre business
dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Rajesh Jain |
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Designation : |
Finance Manager |
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Date : |
28.07.2008 |
LOCATIONS
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Registered Office : |
111, Industrial Area, Sion (East), Mumbai – 400022, Maharashtra, India
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Tel. No.: |
91-22-24090124/ 127/ 325 |
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Fax No.: |
91-22-24072949 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Branch Office 1: |
Atria Millennium Mall Dr. Annie Besant Road, Opposite Poonam Chambers,
Worli, Mumbai – 400022, Maharashtra, India |
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Tel. No.: |
91-22-248513380/ 3480 |
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Branch Office 2: |
Nirmal Lifestyles Mall 2nd Floor, Small Shop Paradise, LBS
Marg, Mulund (West), Mumbai – 400080, Maharashtra, India |
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Tel. No.: |
91-22-25930074/ 67701234 |
DIRECTORS
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Name : |
Mr. Ankur Girish Choksey |
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Designation : |
Managing Director |
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Address : |
Geetanjali, 9 Gamadia Cross Road, Gamdevi, Mumbai – 400026,
Maharashtra, India |
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Date of Birth/Age : |
04.08.1969 |
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Date of Appointment : |
02.03.2005 |
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Name : |
Mrs. Hiloni Ankur Choksey |
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Designation : |
Director |
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Address : |
1/A, Geetanjali, 9 Gamadia Cross Road, Gamdevi, Mumbai – 400026,
Maharashtra, India |
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Date of Birth/Age : |
29.07.1973 |
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Date of Appointment : |
02.03.2005 |
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Name : |
Mr. Girish Champaklal Choksey |
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Designation : |
Director |
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Address : |
Geetanjali, 9 Gamadia Cross Road, Gamdevi, Mumbai – 400026,
Maharashtra, India |
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Date of Birth/Age : |
21.10.1942 |
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Date of Appointment : |
21.11.2007 |
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Name : |
Mr. Atul Ishwardas Chordia |
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Designation : |
Director |
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Address : |
S No. 37/I, Ghorpadi, Next to ABC Farm, Pune – 411036, Maharashtra,
India |
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Date of Birth/Age : |
13.03.1965 |
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Date of Appointment : |
21.11.2007 |
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Name : |
Mrs. Janki Parikh |
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Designation : |
Director |
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Address : |
63, Chandrakiran, Vallabh Nagar Society, N S Road, No.1 Juhu Parle
Scheme Vile Parle (West) Mumbai – 400056, Maharashtra, India |
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Date of Birth/Age : |
30.11.1980 |
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Date of Appointment : |
09.02.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2008)
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Names of Allotted |
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No. of Shares Allotted |
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Aquamarine Trading and Investment Private Limited |
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260000 |
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Ms. Janaki Parekh |
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120000 |
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Total |
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380000 |
(As on 31.03.2007)
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Category |
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Percentage |
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Bodies Corporate |
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76.99 |
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Directors or relatives of director |
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6.55 |
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Others top fifty shareholders (other than listed above) |
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16.46 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in the business of entertainment and gaming zone |
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Agencies Held : |
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GENERAL
INFORMATION
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No. of Employees : |
50 |
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Bankers : |
Large Corporate Branch, Brady House, V. N. Road, Fort, Mumbai –
400023, Maharashtra, India |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Thingna and Contractor Chartered Accountant |
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Address : |
G-3, T V Industrial Estate, 248/A, S. K. Ahire Marg, Worli, Mumbai –
400030, Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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9000000 |
Equity Shares |
Rs.10/- each |
Rs.90.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000
Millions |
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FINANCIAL DATA
[all figures are in Rupees 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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60.000 |
0.100 |
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2] Share Application Money |
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0.000 |
44.442 |
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3] Reserves & Surplus |
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20.000 |
0.0000 |
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4] (Accumulated Losses) |
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(10.551) |
(0.855) |
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NETWORTH |
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69.449 |
43.687 |
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LOAN FUNDS |
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1] Secured Loans |
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2.523 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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2.523 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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71.972 |
43.687 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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35.611 |
0.097 |
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Capital work-in-progress |
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10.548 |
13.131 |
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INVESTMENT |
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0.927 |
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
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0.000 |
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Sundry Debtors |
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0.000
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0.000 |
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Cash & Bank Balances |
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16.350
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21.555 |
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Other Current Assets |
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0.000
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0.000 |
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Loans & Advances |
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9.361
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11.027 |
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Total
Current Assets |
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25.711
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32.582 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.825
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3.708 |
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Provisions |
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0.000
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0.000 |
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Total
Current Liabilities |
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0.825
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3.708 |
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Net Current Assets |
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24.886
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28.874 |
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MISCELLANEOUS EXPENSES |
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0.000 |
1.585 |
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TOTAL |
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71.972 |
43.687 |
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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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0.05 |
0.08 |
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Current Ratio (Current Asset/Current Liability) |
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31.16 |
8.79 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
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Corporate
identity number of the company |
U92199MH2005PTC151707 |
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Name of the
company |
CYBELE PARADISE PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
111, Industrial Area, Sion (East), Mumbai – 400022, Maharashtra, India
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This form is for |
Creation of charge |
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Type of charge |
Movable Property All fixed and
current assets and Atria Mall |
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Particular of
charge holder |
Punjab National Bank Large Corporate Branch, Brady House, V. N. Road, Fort, Mumbai –
400023, Maharashtra, India |
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Nature of
instrument creating charge |
Hypothecation of
assets to secure Term Loan |
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Date of
instrument Creating the charge |
19.02.2007 |
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Amount secured by
the charge |
Rs.100.000
Millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of
Interests: 12.75% p.a. on
Quarterly Basis Terms of
Repayment: Rs.5.555 Millions
(18 Quarterly Installment) Margin: 44% margin Extent and
Operation of the charge: Rs.100.000 Millions |
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Particulars of
the property charged |
First charge on
the movable fixed assets and current assets of the company both present and
future |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.30 |
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UK Pound |
1 |
Rs.84.03 |
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Euro |
1 |
Rs.66.42 |
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 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
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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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33 |
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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