MIRA
INFORM REPORT
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Report Date : |
05.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
ROLEX HOSIERY PRIVATE LIMITED |
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Registered Office : |
27 Community Centre Basanti Lok Vasant Vihar, Delhi – 110 057 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
31.07.1965 |
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Com. Reg. No.: |
55-113658 |
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CIN No.: [Company
Identification No.] |
U18101DL1965PTC113658 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELR08568A |
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PAN No.: [Permanent
Account No.] |
AAACR3190F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Ready Made Garments. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 700000 |
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Status : |
Good |
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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. General financial
position is satisfactory. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. D P Panigrahi |
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Designation : |
Account Manager |
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Date : |
02.06.2008 |
LOCATIONS
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Registered Office/ Corporate Office/ Head Office : |
27 Community Centre Basanti Lok Vasant Vihar, Delhi – 110 057, India |
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Tel. No.: |
91-11-26140943 / 26140367 |
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Fax No.: |
91-11-26140409 |
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E-Mail : |
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Administrative Office : |
Plot No. 13/3, Bagampur, Khatola, Gurgaon – 122 001, Haryana, India |
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Tel. No.: |
91-124-4031161/62 |
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Factory : |
·
7, IDC, Mehrauli Road,
Gurgaon -122 001, Haryana , India Phone : 91-124-2320602 Fax No. : 91-124-26140409 · 596 - 597, Udhyog Vihar , Phase - V, Gurgaon-122 001, India Phone : 91-124-2320602 Fax No. : 91-124-26140409 · 13/3, Begumpur Khatola, Gurgaon-122 001, Haryana, India Phone : 91-124-2320602 Fax No. : 91-124-26140409
· 24, Sector – 4, IMT, Manesar, Gurgaon-122 001, Haryana, India Phone : 91-124-2320602 Fax No. : 91-124-26140409 |
DIRECTORS
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Name : |
Mr. Vivek Chander |
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Designation : |
Director |
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Address : |
D -6/30 Vasant Vihar, New Delhi – 110 057 , India |
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Date of Birth/Age : |
21.07.1928 |
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Date of Appointment : |
24.01.1977 |
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Name : |
Mr. Vikas Chander |
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Designation : |
Director |
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Address : |
D -6/30 Vasant Vihar, New Delhi – 110 057 , India |
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Date of Birth/Age : |
26.01.1965 |
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Date of Appointment : |
01.04.1987 |
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Name : |
Mrs. Aiysha Chander |
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Designation : |
Director |
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Address : |
D -6/30 Vasant Vihar, New Delhi – 110 057 , India |
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Date of Birth/Age : |
19.10.1969 |
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Date of Appointment : |
25.08.2004 |
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. Vivek Chander |
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6340 |
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Mrs. Vandana Mahajan |
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20 |
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Mr. Vikash Chander |
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16360 |
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Mrs. Manorama Dhawal |
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27180 |
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Mr. Adesh Mahajan |
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20 |
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Total
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49920 |
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 : |
Manufacturer and Exporter of Ready Made Garments. |
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Exports : |
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Countries : |
USA, France, Germany |
GENERAL
INFORMATION
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No. of Employees : |
3000 |
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Bankers : |
· Axis Bank Limited, 4th Floor, Ashoka Estate, 24 Barakhmaba Road, New Delhi – 110 021, India ·
Union Bank of India , Vasant Vihar, New Delhi -110
010, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
N D Kapur and Company Chartered Accountants |
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Address : |
2 A Shanker Market, Connaught Circus, New Delhi – 110 001, India |
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Name: |
Mr. Mohan Singh Chartered Accountants |
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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 |
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500000 |
Equity Shares |
Rs. 100/- each |
Rs. 50.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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49920 |
Equity Shares |
Rs. 100/-
each |
Rs. 4.992
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 |
4.992 |
4.992 |
4.992 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
118.434 |
109.436 |
114.352 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
123.426 |
114.428 |
119.344 |
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LOAN FUNDS |
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1] Secured Loans |
235.626 |
315.720 |
256.989 |
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2] Unsecured Loans |
1.132 |
2.810 |
0.682 |
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TOTAL BORROWING |
236.758 |
318.530 |
257.671 |
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DEFERRED TAX LIABILITIES |
0.732 |
0.000 |
0.000 |
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TOTAL |
360.916 |
432.958 |
377.015 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
158.091 |
99.393 |
79.835 |
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Capital work-in-progress |
40.878 |
70.889 |
38.121 |
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INVESTMENT |
0.009 |
0.009 |
0.009 |
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DEFERREX TAX ASSETS |
0.000 |
1.888 |
1.342 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
163.384
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167.977 |
169.190 |
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Sundry Debtors |
44.104
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92.896 |
103.649 |
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Cash & Bank Balances |
86.846
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84.253 |
51.110 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
67.473
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42.852 |
22.123 |
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Total
Current Assets |
361.807
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387.978 |
346.072 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
154.766
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82.755 |
66.003 |
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Provisions |
45.103
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44.444 |
22.361 |
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Total
Current Liabilities |
199.869
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127.199 |
88.364 |
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Net Current Assets |
161.938
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260.779 |
257.708 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
360.916 |
432.958 |
377.015 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.54
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5.06 |
2.89 |
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Current Ratio (Current Asset/Current Liability) |
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1.81
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3.05 |
3.92 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
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Name of the company
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ROLEX HOSIERY PRIVATE LIMITED |
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Presented By |
Mr. Vivek
Chander |
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1) Date and
description of instrument creating the change |
Agreement for term Loan for purchase /
Import Embroidery machine dated 28.06.2005 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 12.500
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 |
Term loan fro
purchase / Import Embroidery machine |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest @ 2.50 % point over the PLR rate
subject to minimum of P.A or such of the rate as prescribed by the bank |
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5) Name and Address
and description of the person entitled to the charge. |
Union Bank of India , Vasant Vihar, New
Delhi -110 010, India |
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6) Date and brief description of instrument
modifying the charge |
NA |
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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. |
NA |
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Corporation identity number or foreign company registrations number of
the company |
U18101DL1965PTC113658 |
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Name of the company |
ROLEX HOSIERY PRIVATE LIMITED |
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Address |
27 community Centre Basanti Lok Vasant Vihar, Delhi -110
057, 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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CIN: L65110GJ1993PLC020769 Axis Bank Limited Address: 4th floor, Ashoka
Estate, 24 Barakhamba Road, New Delhi – 100 001, India E-mail: vibha.jain@utibank.co.in |
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Nature or description of the instrument creating charge |
Loan agreement and description and
declaration cum confirmation deed (overdraft against property) |
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Date of the instrument creating charge |
25.07.2007 |
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Amount Secure by the charge |
Rs.13.000 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest : Interest BPLR 2.5% p.a payable monthly subject to change from time to
time as decided by the bank. Terms of Repayment: Repay on Demand Extent and operation of the charge: Overdraft against property under business Mpower OD Scheme Rs. 13.000
millions. Equitable mortgage over the industrial property situated at plot No.
157, sector -4, IMT, Manesar, Gurgaon, Measuring 4050 Sq.mtrs owned by the
company. |
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Short Particulars of the Property charged |
Equitable mortgage over the industrial property situated at plot No.
157, Sector 4, IMT Manesar, Gurgaon ,measuring 4050, Sq.mtrs owned by the
company. |
TRADE REFERENCES:
· Triburg Sports Wear
· Impulse
· Macx
· Kolby
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.63 |
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UK Pound |
1 |
Rs.83.40 |
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Euro |
1 |
Rs.65.80 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
8 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
8 |
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--LEVERAGE |
1~10 |
8 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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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 |
YES |
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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 |
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62 |
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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