MIRA
INFORM REPORT
|
Report Date : |
06.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
REYNOLD INDIA PRIVATE LIMITED |
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Registered Office : |
D 703 A, Chittranjan Park, New Delhi 110019 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
25.09.1995 |
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Com. Reg. No.: |
55-072715 |
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CIN No.: [Company
Identification No.] |
U74899DL1995PTC072715 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELR05101F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Chillers. |
RATING &
COMMENTS
|
MIRAs 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 13605 |
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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 meeting its normal
commitments timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
D 703 A, Chittranjan Park, New Delhi 110019, India |
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Tel. No.: |
91-11-26229407 |
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E-Mail : |
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Factory : |
C 38, and Sector 2, Noida 201301, Haryana, India |
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Tel No. : |
91-120-4252000/4664000/ 4252001 |
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Fax No : |
91-120-4252005 |
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Factory : |
Plot No. 30, Sector 4, Sidkul, Haridwar, India |
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Branches : |
Located at: v Bangalore v Mumbai v Kolkata v Chennai v Pune |
DIRECTORS
|
Name : |
Mr. Sumita Rakshit |
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Designation : |
Director |
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Address : |
D 703 A, Chittranjan Park, New Delhi 110019, India |
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Date of Birth/Age : |
15.10.1966 |
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Date of Appointment : |
25.09.1995 |
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Name : |
Mr. Mohan Somangshu Ghosh |
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Designation : |
Director |
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Address : |
Flat No. 2 B, 48 1E, Gariahat Road, Kolkata 700019, West Bengal,
India |
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Date of Appointment : |
18.12.1995 |
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Name : |
Mr. Vinod Kumar Kamboj |
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Designation : |
Director |
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Address : |
445, Shakti Khand 3, Indira Puram, Ghaziabad 201010, Uttar Pradesh,
India |
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Date of Birth/Age : |
04.05.1966 |
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Date of Appointment : |
25.09.1995 |
KEY EXECUTIVES
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Name : |
Mr. S. Rakshit |
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Designation : |
Chief Executive Officer |
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Tel No : |
91 120 - 4664001 |
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Mobile No : |
91- 9810132983 |
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Name : |
Mr. Vinod Kamboj |
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Designation : |
Head of Commercial |
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Tel No : |
91-120-4664002 |
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Mobile No : |
91-9810983421 |
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Name : |
Mr. Vijay Bali |
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Designation : |
General Manager -
Sales and Marketing |
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Tel No : |
91-120-4664006 |
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Mobile No : |
91-9810100836 |
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Name : |
Mr. A K Sahu |
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Designation : |
Regional Head
(South) |
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Tel No : |
91-80-23107062 |
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Mobile No : |
91-9845193736 |
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Name : |
Mr. Arvind Yadav |
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Designation : |
Regional Head
(East) |
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Tel No : |
91-33-39598956 |
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Mobile No : |
91-9831386511 |
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Name : |
Mr. Jitendra
Mittal |
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Designation : |
Assistant Manager
(West) |
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Tel No : |
91-22-56851865 |
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Mobile No : |
91-9892805389 |
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Name : |
Mr. Vishwanath
Vishwakarma |
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Designation : |
Head of
Manufacturing, Noida |
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Tel No : |
91-120-4664017 |
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Mobile No : |
91-9971396907 |
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Name : |
Mr. Achinya Kr.
Adhikary |
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Designation : |
Head of
Manufacturing Haridwar |
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Mobile No : |
91-9910132983 |
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Name : |
Mr. N M Mathur |
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Designation : |
Head of Special
Project |
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Tel No : |
91-120-4664018 |
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Mobile No : |
91-9971396909 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
|
Names of Shareholders |
No. of Shares |
|
Mr. Sumita Rakshit |
115300 |
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Mr. Vinod Kamboj |
7209 |
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Mr. Arvind Yadav |
4500 |
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Mr. Akshay Kumar Sahu |
4500 |
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Mr. Nand Kishore Kundu |
4500 |
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Mr. Satya Prakash Sharma |
4500 |
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Mr. Vijay Bali |
5400 |
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Total |
145909 |
Equity share breakup (Percentage of total equity)
As on 31.03.2007
|
Sr. No. |
Category |
Percentage |
|
1. |
Directors or relatives of directors |
83.96 |
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2. |
Other top fifty (50) shareholders (other
than listed above) |
16.04 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Chillers. |
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Products : |
v Air Cooled Chillers · Screw Chillers · Semi Hermetic Chillers · Scroll Chillers v Water Cooled Chillers · Centrifugal Chillers · Screw Chillers · Semi Hermetic Chillers · Scroll Chillers v Oil Chillers v Brine Chillers / Liquifiers v Chillers for Batching Plant |
GENERAL
INFORMATION
|
Suppliers : |
v D P Electricals
Private Limited v Batra
Engineering Company v Avco Engineers
Private Limited v Grand Poly Coats
Private Limited v Jindal Stainless
Steel Way Limited v Oceanic Cooling
Tower Private Limited v Devco Electric
Private Limited |
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Customers : |
v Wartsila v Asian Paints v Biocon v Johnson and
Johnson v Kolsite v Sumi Mother Son v GSK v Reliance v Maruti Suzuki v DOW v LG v Pepsi v TVS v Philips v Reckitt
Benckiser v Siemens v Whirlpool v Parle v Tata v Ashok Loy land v Eveready v Praxair v Wind son v Wipro v Nicholas v Astra Zeneca v Dabur v Flex v Electrolux v Coca cola v GCC Services
- Kuwait v Panchakanya
Nepal v G S Holdings
Mozambique v Parabolic Drugs
Limited v Societe Generale
Corporate and Investment Banking Egypt v MJC Engineering
and Technology Inc California v Toyo Engineering
India Limited Japan v Hosnic Tokyo v Sumi Mother son v Crystal Saudi
Arabia v Britannia v Minda v Al Ghurair Iron
and Steel LCC UAE v SACEP Saudi
Concrete Products Company Limited Saudi Arabia v Surya v India Glycols
Limited v Dhanuka v Delphi v ICI v Pharma Zeli v Jindal v Oswal Group v Philips Sense
and Simplicity v Lumax Automotive
Parts v Lakhani Shoes |
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Bankers : |
Bank of India Noida Branch, E 52/B, Sector 9, Noida 201 301, Uttar Pradesh,
India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Basu Kumar and Associates, Chartered Accountants |
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Address : |
229, Jorbagh, New Delhi 110 003 |
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Tel. No.: |
91-11-41851073, 24617716 |
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E-Mail : |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
145,909 |
Equity Shares |
Rs. 10/- each |
Rs. 1.459
millions |
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 |
1.459 |
1.191 |
1.065 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.262 |
0.615 |
0.359 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.721 |
1.806 |
1.424 |
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LOAN FUNDS |
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1] Secured Loans |
3.979 |
3.542 |
2.975 |
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2] Unsecured Loans |
0.010 |
0.080 |
0.000 |
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TOTAL BORROWING |
3.989 |
3.622 |
2.975 |
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DEFERRED TAX LIABILITIES |
0.026 |
0.001 |
0.000 |
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TOTAL |
6.736 |
5.429 |
4.399 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.957 |
1.573 |
0.897 |
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Capital work-in-progress |
1.317 |
0.000 |
0.000 |
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INVESTMENT |
2.256 |
3.282 |
3.259 |
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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 |
28.255
|
20.181 |
18.909 |
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Sundry Debtors |
11.900
|
10.533 |
5.031 |
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Cash & Bank Balances |
2.815
|
0.727 |
0.196 |
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Other Current Assets |
3.192
|
0.655 |
0.024 |
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Loans & Advances |
7.595
|
5.515 |
3.342 |
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Total
Current Assets |
53.757
|
37.611 |
27.502 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
51.948
|
36.006 |
26.775 |
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Provisions |
1.604
|
1.031 |
0.486 |
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Total
Current Liabilities |
53.552
|
37.037 |
27.261 |
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Net Current Assets |
0.205
|
0.574 |
0.241 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
6.736 |
5.429 |
4.399 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
Sales Turnover (Including Other Income) |
|
116.339 |
91.111 |
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Total Income |
|
116.339 |
91.111 |
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Profit/(Loss) Before Tax |
|
0.379 |
0.256 |
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Provision for Taxation |
|
0.000 |
0.000 |
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Profit/(Loss) After Tax |
|
0.379 |
0.256 |
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Total Expenditure |
|
115.960 |
90.855 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
0.33
|
0.28 |
-- |
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Net Profit Margin (PBT/Sales) |
(%) |
0.33
|
0.28 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.33
|
0.28 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.14 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
|
19.68
|
20.51 |
19.31 |
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Current Ratio (Current Asset/Current Liability) |
|
1.00
|
1.01 |
1.01 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U74899DL1995PTC072715 |
|
Name of the
company |
REYNOLD INDIA PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
D 703 A, Chittranjan Park, New Delhi 110019, India |
|
Type of charge |
v
Immovable
property |
|
Particular of charge
holder |
Name : Bank of
India Address : Noida
Branch E 52/B, Sector
9 City : Noida State : Uttar
Pradesh ISO country code
: IN Pin code : 201
301 e-mail ID: arc1986@gmail.com |
|
Nature of description
of the instrument creating or modifying the charge |
Equitable
mortgage dated 26.02.2008 ledger no. 7, Folio 111 to secure the term loan
Rs. 3.700 millions |
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Date of
instrument Creating the charge |
26.02.2008 |
|
Amount secured by
the charge |
Rs. 3.700
millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest The rate of
interest shall be charged @0.0% over BPLR presently @12.75% p.a. with monthly
rests or any other such rate notified to them by bank from time to time. Terms of
repayment The term loan
will be repayable in96 EMI of Rs. 62706/- each commencing from march 2008 Margin As per agreement Extent operation
of the charge As per agreement |
|
Short particulars
of the property charged |
DP note for Rs.
3.700 millions and Immovable property situated at Plot No. 30, Sector 4,
Sidcul, Haridwar, Uttaranchal, India |
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 Intl
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 companys 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. 42.79 |
|
UK Pound |
1 |
Rs. 83.77 |
|
Euro |
1 |
Rs. 66.71 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SCs 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 |
|