MIRA
INFORM REPORT
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Report Date : |
12.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SPORTS LAND OVERSEAS PRIVATE LIMITED |
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Registered Office : |
C-9, Samrat Place, Garh Road, Meerut – 250 103, Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
06.04.2005 |
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Com. Reg. No.: |
029764 |
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CIN No.: [Company
Identification No.] |
U36932UP2005PTC029764 |
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PAN No.: [Permanent
Account No.] |
AAECM2485L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Sports items (Carrom Board, Boxing), Jym Equipments. |
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 9000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Mr. Gaurav Mahajan, Director confirmes the details. Subject is a well established company having satisfactory track. Trade
relations are fair. General financial position is satisfactory. Payments are
usually correct and as per commitments. The company can be considered
normal for business dealings at normal trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Gaurav Mahajan |
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Designation : |
Director |
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Date : |
09.06.2008 |
LOCATIONS
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Registered Office : |
C-9, Samrat Place, Garh Road, Meerut – 250 103, Uttar Pradesh, India |
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Factory : |
A-17, Udyogpuram Industrial Area, Partapur, Delhi Road, Meerut – 250
103, Uttar Pradesh, India |
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Tel. No.: |
91-121-2441542 / 2441543 |
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Fax No.: |
91-121-2441541 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Gaurav Mahajan |
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Designation : |
Director |
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Address : |
C-9, Samrat Place, Garh Road, Meerut – 250 103, Uttar Pradesh, India |
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Date of Birth/Age : |
30 Years |
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Qualification : |
Graduate |
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Date of Appointment : |
06.04.2005 |
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Name : |
Mr. Ashok Mahajan |
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Designation : |
Managing Director |
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Address : |
C-9, Samrat Place, Garh Road, Meerut – 250 103, Uttar Pradesh, India |
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Date of Birth/Age : |
38 Years |
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Qualification : |
Graduate |
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Date of Appointment : |
06.04.2005 |
Equity share breakup (percentage of total equity)
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As on 30.09.2007 |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Sports items (Carrom Board, Boxing), Jym Equipments. |
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Products : |
·
Agility and Training Equipment ·
Fitness and Strength Equipment ·
Plyometrics Equipment ·
Balance and Stability Equipment ·
Cricket Training Equipment ·
Kids Indoor Cricket Set ·
Sports Accessories ·
Sprots Nets and Nettings ·
Gymnastic Rhythmic Equipment ·
Trolleys |
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Agencies Held : |
·
U.S. Military ·
Navy ·
Air Force ·
F.B.I. |
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Exports : |
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Products : |
·
Sports Items (Carrom Board, Boxing) ·
Jym Equipments |
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Countries : |
·
Riyath ·
Jeddah ·
U.K. ·
Australia ·
Newzealand ·
South Africa ·
Europe ·
U.S.A. ·
Canada ·
Germany ·
France ·
U.A.E. ·
Singapore ·
Malaysia ·
Japan |
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Terms : |
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Selling : |
T/T |
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Purchasing : |
Cash and Credit (30 days / 60 days / 90 days) |
GENERAL
INFORMATION
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No. of Employees : |
5 |
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Bankers : |
Oriented Bank of Commerve Transport Nagar, Meerut |
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Banking
Relations : |
Satisfactory |
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Auditors : |
·
Tarsem Alal Mahajan Chartrered Accountants 175/5 Shastri Nagar, Nai Sarak, Meerut –
250 001, Uttar Pradesh, India ·
V.P. Chandana and Company Chartrered Accountants Meerut |
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Sister Concerns : |
Scolunt Uttar Pradesh |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
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Total |
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Rs. 1.000
Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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91500 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.915
Million |
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Total |
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Rs. 0.915 Million |
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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0.915 |
0.915 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.886 |
0.137 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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1.801 |
1.052 |
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LOAN FUNDS |
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1] Secured Loans |
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5.301 |
4.402 |
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2] Unsecured Loans |
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0.527 |
0.222 |
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TOTAL BORROWING |
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5.828 |
4.624 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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7.629 |
5.676 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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5.640 |
0.896 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.050 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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5.172
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3.483 |
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Sundry Debtors |
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5.793
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6.322 |
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Cash & Bank Balances |
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1.108
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0.698 |
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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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0.207
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0.080 |
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Total
Current Assets |
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12.280
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10.583 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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10.116
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5.689 |
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Provisions |
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0.225
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0.114 |
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Total
Current Liabilities |
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10.341
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5.803 |
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Net Current Assets |
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1.939
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4.780 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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7.629 |
5.676 |
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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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8.98 |
9.91 |
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Current Ratio (Current Asset/Current Liability) |
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1.19 |
1.82 |
LOCAL AGENCY
FURTHER INFORMATION
Trustseal
Acceptance Chart
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Statutory
Approvals |
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Income Tax Registration |
AAECM2485L |
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Vat/TIN Registration |
09378302785 |
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Import Export Code |
0588036641 |
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Name of Bank |
Oriented Bank of Commerce |
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Current Account Number |
03881010003660 |
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Account Since |
Since 5 Years |
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Emp PF Reg Number |
- |
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Company ESI Reg. Number |
- |
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RBI Code Number |
67-23606-66 |
Trade References :
·
Reliance Retail Limited
Mumbai
·
Aditya Birla Retail Limited
Andheri, Mumbai
Form
No. 8
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Name of the company |
SPORTS LAND OVERSEAS PRIVATE LIMITED |
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Presented By |
Ashok Mahajan
(Director) |
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1) Date and description of instrument creating the change |
04.06.2005, Agreement
for Hypothecation of Assets |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 5.000
millions |
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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
Stocks of raw material, Stock in process and finished goods and receivables
of the company. Equitable mortgage of residential building Situated at C-9,
Samrat Palace, Garh Road, Meerut. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
·
Interest @
7.25% p.a. with monthly rest ·
Margin will
be 25% |
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5) Name and Address and description of the person entitled to the charge. |
Oriented bank of
Commerce Transport Nagar,
Meerut |
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6) Date and brief description of instrument modifying the charge |
N.A. |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N.A. |
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.42.89 |
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UK Pound |
1 |
Rs.83.80 |
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Euro |
1 |
Rs.66.45 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
NO |
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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 |
YES |
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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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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
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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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