MIRA
INFORM REPORT
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Report Date : |
07.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SSS LOHA MARKETING PRIVATE LIMITED |
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Registered Office : |
12 A Netaji Subhash S Road, 5th Floor, R No.11, Kolkata – 700001,
West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
11.03.2003 |
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Com. Reg. No.: |
21-95912 |
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CIN No.: [Company
Identification No.] |
U27101WB2003PTC095912 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALS14612D |
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PAN No.: [Permanent
Account No.] |
AAHCS3962M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader of Iron ore |
RATING &
COMMENTS
|
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 97370 |
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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. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Chetan Kanoi |
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Designation : |
Assistant Manager |
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Contact No.: |
91-9830700707 |
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Date : |
03.06.2008 |
LOCATIONS
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Registered Office : |
12 A Netaji Subhash S Road, 5th Floor, R No. 11, Kolkata –
700 001, West Bengal, India |
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Tel. No.: |
91-33-22434247 / 2243427 / 22745208 |
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E-Mail : |
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Location: |
Rented |
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Corporate Office : |
18/1, 7th Floor, M D Road, Burrabazar, Kolkata – 700 007,
West Bengal, India |
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Tel. No.: |
91-33-22741635 / 22745208 / 22747550 / 22747551 |
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Mobile No.: |
91-9830031826 |
DIRECTORS
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Name : |
Mr. Balkishan Didwania |
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Designation : |
Director |
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Address : |
BF -225, Salt lake, Bidhan Naagr, Kolkata – 700 064, West Bengal,
India |
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Date of Birth/Age : |
13.04.1975 |
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Qualification: |
Graduate |
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Date of Appointment : |
11.03.2003 |
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Name : |
Mr. Dilip Kumar Didwania |
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Designation : |
Director |
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Address : |
BF -225, Salt lake, Bidhan Naagr, Kolkata – 700 064, West Bengal,
India |
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Date of Birth/Age : |
10.03.1968 |
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Qualification: |
Graduate |
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Date of Appointment : |
11.03.2003 |
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Name : |
Mr. Shankarlal Didwania |
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Designation : |
Director |
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Address : |
BF -225, Salt lake, Bidhan Naagr, Kolkata – 700 064, West Bengal,
India |
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Date of Birth/Age : |
21.08.1939 |
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Date of Appointment : |
10.10.2003 |
KEY EXECUTIVES
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Name : |
Acharya S K and Associates |
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Designation : |
Company Secretary |
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Address : |
Shree Sati Business Centre, 71/A, Grant Lane, 1st Floor,
Room No.18, Kolkata, India |
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Tel No.: |
91-33-22257760 to 63, Extn. 252 |
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Mobile No.: |
91-9830719480 |
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Email : |
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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Shakun Finex Private Limited |
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5000 |
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Satyavan Sales Promotion Private Limited |
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5000 |
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Mr. Dilip Didwania |
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5000 |
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Mr. Balkishan Didwania |
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5000 |
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Andaman Timber Industries Limited |
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15000 |
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Trishala Commercial and Finance Private Limited |
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10000 |
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Avisan Vinimay Private Limited |
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5000 |
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Leonard Vanijya Private Limited |
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10000 |
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Sadgi Commercial and Finance Private Limited |
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10000 |
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Kanchan Commodeal Private Limited |
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5000 |
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Kanchana Commodeal Private Limited |
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5000 |
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Tobu Toys Limited |
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10000 |
as on 31.03.2007:-
|
Category |
Percentage |
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Bodies Corporate |
94.87 |
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Directors or relative of directors |
2.56 |
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Other top fifty (50) shareholders |
2.57 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Iron ore |
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Terms : |
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Selling : |
Credit (15 days), Advance |
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Purchasing : |
Cheque |
GENERAL
INFORMATION
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Customers : |
Manufacturer |
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No. of Employees : |
8 |
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Bankers : |
· State Bank of
India Commercial Branch, 8 N S Road, Kolkata – 700 001, West Bengal, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Ajit Kumar Tulsian Chartered Accountants |
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Address : |
12 A, N S Road, 5th Floor, Room No. 11, Kolkata – 700 001,
West Bengal, India |
CAPITAL STRUCTURE
(As on 31.03.2007):-
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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195000 |
Equity Shares |
Rs. 10/-
each |
Rs. 1.950
millions |
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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 |
1.950 |
1.050 |
1.050 |
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2] Share Application Money |
17.524 |
0.000 |
1.500 |
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3] Reserves & Surplus |
0.000 |
8.882 |
8.685 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
19.474 |
9.932 |
11.235 |
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LOAN FUNDS |
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1] Secured Loans |
0.369 |
0.611 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.369 |
0.611 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
19.843 |
10.543 |
11.235 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.556 |
0.827 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
5.800 |
5.000 |
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 |
40.414
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16.166 |
1.230 |
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Sundry Debtors |
32.948
|
22.328 |
15.202 |
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Cash & Bank Balances |
[6.529]
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[0.265] |
2.967 |
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Other Current Assets |
0.075
|
0.000 |
0.000 |
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Loans & Advances |
27.408
|
12.939 |
10.760 |
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Total
Current Assets |
94.316
|
51.168 |
30.159 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
82.505
|
46.254 |
18.869 |
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Provisions |
0.335
|
0.215 |
0.078 |
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Total
Current Liabilities |
82.840
|
46.469 |
18.947 |
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Net Current Assets |
11.476
|
4.699 |
11.212 |
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MISCELLANEOUS EXPENSES |
0.011 |
0.017 |
0.023 |
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TOTAL |
19.843 |
10.543 |
11.235 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
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NA |
NA |
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Other Income |
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NA |
NA |
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Total Income |
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NA |
NA |
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Profit/(Loss) Before Tax |
|
0.890 |
0.340 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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0.890 |
0.340 |
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Total Expenditure |
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NA |
NA |
KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
NA
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NA
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NA |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
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NA
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NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.92
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0.65 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.04
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0.03 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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4.27
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4.74 |
1.69 |
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Current Ratio (Current Asset/Current Liability) |
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1.14
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1.10 |
1.59 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
|
Corporation identity number or foreign company registrations number of
the company |
U27101WB2003PTC095912 |
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Name of the company |
SSS LOHA
MARKETING PRIVATE LIMITED |
|
Address |
12 A, N S Road, 5th Floor, Room No. 11, Kolkata – 700 001,
West Bengal, India |
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This Form is for |
Creation of charge |
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Type of Charges |
Immovable property |
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Particular of the charge holder
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State Bank of India Address: Commercial Branch, N S Road, Kolkata – 700 001, West Bengal,
India E-mail: sbi.04125@sbi.co.in |
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Nature or description of the instrument creating charge |
Memorandum of deposit fro creation of charge for term loan / cash
credit / overall limit |
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Date of the instrument creating charge |
20.02.2007 |
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Amount Secure by the charge |
Rs. 35.000 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest : As stipulated by the bank from time to time as per the banking norms
and RBI guidelines. Terms of repayment: As may be stipulated by the bank from time to time Margin: As stipulated by the bank for the respective assets from time to time.
Extent and Operation of the charge: First charge on the whole of the mortgaged properties |
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Short Particulars of the Property charged |
All that the one room being No. 504 on the 5th Floor, measuring in super built up area 954
Sq.fts or less at premises No. 51, Vivekanand Road, Kol-7, p S Girish Park,
Ward No. 25 Original Plot No. 23 of the surplus land in improvement scheme
No. VIIF formed out of the proportions of premises No. 35, 36, 37, and 38
Chasa Dhaba Para Street in Taluk – Sutantty. All that partly five and partly six storied brick dwelling house at 51
Vivekananda Road, KOl-7, P S Girish Park. |
TRADE REFERENCES:
· TP Sao SCO
· Om Crush Limited
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
|
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 |
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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 |
|
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 |
|