MIRA
INFORM REPORT
|
Report Date : |
02.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
S A LOGISTICS PRIVATE LIMITED |
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Registered Office : |
Dolamundai P O Telenga Bazar, Cuttack , Orissa – 753 009 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
30.01.2003 |
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Com. Reg. No.: |
15-7049 |
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CIN No.: [Company
Identification No.] |
U51909OR2003PTC007049 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BBNS01428A |
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PAN No.: [Permanent
Account No.] |
AAGCS9587F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Provider of Logistics
Services, Including Courier, Air and Ocean Freight Forwarding, Warehousing,
Distribution and E-Commerce. |
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 44000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed company meetings its
normal commitments timeously. The company has taken good amount of loans.
Trade relations are fair. The company can be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
Dolamundai P O Telenga Bazar, Cuttack , Orissa – 753 009, India |
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Tel. No.: |
91-671-2314648 / 674-2532537 |
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Fax No.: |
91-674-25336181 |
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E-Mail : |
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Corporate Office : |
Janpath Tower, 1st Floor, Bapuji Nagar, Ashok Nagar, Bhubaneshwar-
751 009, India |
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Tel No.: |
91-674-2533681 / 2532537 |
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Mobile No.: |
91-9337332365 / 9437024601 / 9437054647 |
DIRECTORS
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Name : |
Mr. Gobind Singhania |
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Designation : |
Director |
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Address : |
Choudhary Bazar, Cuttack – 753 009, Orissa, India |
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Date of Birth/Age : |
15.08.1952 |
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Date of Appointment : |
30.01.2003 |
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Name : |
Mr. Vikash Santuka Kumar |
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Designation : |
Director |
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Address : |
Dolamundai , P O Telenga Bazar, Cuttack – 753 009, Orissa, India |
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Date of Birth/Age : |
10.05.1978 |
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Date of Appointment : |
30.01.2003 |
KEY EXECUTIVES
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Name : |
Mr. S Khan and Associates |
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Designation : |
Company Secretary |
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Address : |
AT Banus Galli, P O Buxi Bazar, Cuttack – 753001, India |
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Tel No.: |
91-671-2428602 |
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Mobile No.: |
91-9437311452 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders (as on 31.03.2007):- |
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No. of Shares |
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Mr. Gobind Ram Singhania |
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500 |
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Mr. Vikash Kumar Santuka |
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7500 |
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Mr. Suresh Lal Santuka |
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5000 |
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Mr. Suresh Lal Santuka (HUF) |
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12500 |
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Mr. Manish Singhania |
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10000 |
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Mrs. Sushama Singhania |
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4500 |
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Mrs. Chanda Devi Singhania |
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10000 |
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Total
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50000 |
Equity Shares Breakup (Percentage of Total Equity): as on 31.03.2007:-
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Sr No. |
Category |
Percentage |
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1 |
Directors or relative of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Provider of Logistics
Services, Including Courier, Air and Ocean Freight Forwarding, Warehousing,
Distribution and E-Commerce. |
GENERAL
INFORMATION
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Bankers : |
· HDFC Bank · Indus Ind Bank, The Branch Head, B K Road, Cuttack – 753 001, Orissa, India · Ing Vysya Bank · Corporation Bank, Cuttack Main Branch, Orissa, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Bajoria and Company Chartered Accountants |
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Address : |
Ganesh Ghat, Cuttack – 753 002, Orissa, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
(As on 31.03.2007):-
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity shares |
Rs. 100/- each |
Rs.10.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 100/-
each |
Rs. 5.000
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
5.000 |
5.000 |
5.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
5.992 |
4.073 |
2.687 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
10.992 |
9.073 |
7.687 |
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LOAN FUNDS |
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1] Secured Loans |
47.700 |
36.468 |
18.968 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
47.700 |
36.468 |
18.968 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
58.692 |
45.541 |
26.655 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.983 |
0.959 |
0.708 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.375 |
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 |
33.252
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22.351 |
14.850 |
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Sundry Debtors |
43.131
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31.707 |
19.971 |
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Cash & Bank Balances |
7.469
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4.340 |
2.759 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
5.062
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3.628 |
1.847 |
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Total
Current Assets |
88.914
|
62.026 |
39.427 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
29.724
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16.703 |
12.190 |
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Provisions |
1.856
|
0.772 |
1.354 |
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Total
Current Liabilities |
31.580
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17.475 |
13.544 |
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Net Current Assets |
57.334
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44.551 |
25.883 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.031 |
0.064 |
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TOTAL |
58.692 |
45.541 |
26.655 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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324.591 |
181.065 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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324.591 |
181.065 |
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Profit/(Loss) Before Tax |
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2.995 |
2.168 |
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Provision for Taxation |
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1.052 |
0.777 |
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Profit/(Loss) After Tax |
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1.943 |
1.391 |
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Expenditures : |
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Depreciation & Amortization |
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0.276 |
0.289 |
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Other Expenditure |
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321.320 |
178.608 |
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Total Expenditure |
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321.596 |
178.897 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
0.59
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0.77 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
0.92
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1.19 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.31
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3.44 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.27
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0.24 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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7.21
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5.95 |
4.23 |
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Current Ratio (Current Asset/Current Liability) |
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2.82
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3.55 |
2.91 |
LOCAL AGENCY FURTHER
INFORMATION
FORM 8:-
|
Corporation identity number or foreign company registrations number of
the company |
U51909OR2003PTC007049 |
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Name of the company |
S A LOGISTICS PRIVATE LIMITED |
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Address |
Dolamundai P O Telenga Bazar, Cuttack – 753 009, Orissa,
India |
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This Form is for |
Creation of charge |
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Type of Charges |
Hypothecation |
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Particular of the charge holder
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Indus Ind Bank The Branch Head , B K Road, Cuttack – 753 001,
Orissa, India E-mail: neomail@mail.com
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Nature or description of the instrument creating charge |
Memorandum of confirmation for
hypothecation of all movable assets
including stocks , book debts, and other pursuant to loan document dated 17.07.2006 |
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Date of the instrument creating charge |
Rs. 23.08.2006 |
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Amount Secure by the charge |
Rs. 38.500 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest : Charge secured repayment of funded and non
–funded limits by Indua Ind Bank as per details in the memorandum
confirmation |
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Description of the property charge whether it is a charge on |
· Stock in Trade · Book Debts |
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Name of the
company |
S A LOGISTICS PRIVATE LIMITED |
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Presented By |
Mr. Govindram
Singhania , Managing Director & S A LOGISTICS
PRIVATE LIMITED |
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1) Date and
description of instrument creating the change |
15.11.2004 Common deed of hypothecation
of movable / assets/ debts |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 20.000
millions (Cash Credit Limit ) |
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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 |
Hypothecation of
stock in trade and book debts both existing and future. |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
The charge operates to secure the repayment
of cash credit limit of Rs. 20.000 millions to M/S S A logistics Private
limited , Dolamundai , cuttack – 753 009, Orissa, India |
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5) Name and
Address and description of the person entitled to the charge. |
The Manger Corporation Bank Cuttack (Main) Branch, Cuttack |
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.42.59 |
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UK Pound |
1 |
Rs.84.16 |
|
Euro |
1 |
Rs.65.99 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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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 |
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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 |
|
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 |
|
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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