MIRA
INFORM REPORT
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Report Date : |
20.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
ELECTRONICA HITECH ENGINEERING PRIVATE LIMITED |
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Registered Office : |
Kailas Chandra Apartment, S. No. 128/1A, Plot No. 3, Paud Road,
Kothrud, Pune – 411 038, Maharashtra |
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Country : |
India |
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Date of Incorporation : |
24.04.2007 |
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Com. Reg. No.: |
130038 |
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CIN No.: [Company
Identification No.] |
U29199PN2007PTC130038 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEE02128A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Trader of Jet Machine, Laser Cutting Machine, Spot
Welding Machine. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a new Company and a part of medium sized Electronic Group.
The company is progressing well. Trade relations are fair. Payments are
reported as slow but correct. The company can be considered good for small to mediocre business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. R. D. Deshpandey |
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Designation : |
General Manager in Finance |
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Contact No.: |
91-9822015183 |
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Date : |
16.06.2008 |
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Name : |
Mr. Rahul Kaskhediker |
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Designation : |
Director |
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Contact No.: |
91-9881649304 |
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Date : |
16.06.2008 |
LOCATIONS
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Registered Office : |
Kailas Chandra Apartment, S. No. 128/1A, Plot No. 3, Paud Road,
Kothrud, Pune – 411 038, Maharashtra, India |
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Tel. No.: |
91-20-24272013 / 66748960 |
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Mobile No.: |
91-9881649304 / 9822015183 |
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Fax No.: |
91-20-25459716 / 66748956 |
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E-Mail : |
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Website : |
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Branch Office : |
All over India |
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Corporate Office : |
House No. 501, Elektra Chambers, 44, Mukundnagar, Pune – 411 037,
Maharashtra, India |
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Tel. No.: |
91-20-24272013 / 30435405 |
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Fax No.: |
91-20-24270891 / 24270981 |
DIRECTORS
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Name : |
Mr. Rahul Kaskhediker |
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Designation : |
Director |
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Address : |
102/103/6, Bhonde Colony, Aneya Apartment, Flat No. 8, Opp. Kalmadi
House, Erandwane, Pune – 411 004, Maharashtra, India |
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Date of Birth/Age : |
31.07.1979 |
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Name : |
Mrs. Mugdha Kaskhediker |
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Designation : |
Director |
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Address : |
7 Aneya Apartments, CTS 102/103, Bhonde Colony, Erandawana, Pune – 411
037, Maharashtra, India |
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Date of Birth/Age : |
10.06.1982 |
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Name : |
Ms. Shilpa Phophale |
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Designation : |
Director |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 07.09.2007)
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Names of Allottee |
No. of Shares |
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Mugdha Investment and Finance Private Limited |
140000 |
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Total |
140000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Trader of Jet Machine, Laser Cutting Machine, Spot
Welding Machine. |
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Terms : |
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Selling : |
Credit – 30 days / 60 days / 90 days |
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Purchasing : |
Credit – 30 days / 60 days / 90 days |
GENERAL
INFORMATION
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Customers : |
Manufacturers |
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No. of Employees : |
80-90 |
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Bankers : |
Saraswat Co-Operative Bank Karve Road Branch, Pune – 411 004, Maharashtra, India. |
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Facilities : |
CC, Term Loans Rs. 35.000 millions including non fund base. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Mr. S. N. Gogate Chartered Accountants Pune |
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Associates/Subsidiaries : |
·
Electronica Machine Tools Limited ·
Electronica Finance Limited ·
Electronica Mechtronic Systems Private Limited ·
Electronica Europe Sarl |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
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Total |
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Rs.5.000
millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500
millions |
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Total |
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Rs.1.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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300.000 |
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
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Corporate
identity number of the company |
U29199PN2007PTC130038 |
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Name of the
company |
ELECTRONICA HITECH ENGINEERING PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Kailas Chandra Apartment, S. No. 128/1A, Plot No. 3, Paud Road,
Kothrud, Pune – 411 038, Maharashtra, India |
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This form is for |
Creation of
chargr |
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Type of charge |
·
Book debts ·
Movable
property (not being pledge) |
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Particular of
charge holder |
Saraswat Co-Operative Bank Karve Road Branch, Pune – 411 004, Maharashtra, India. |
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Nature of
instrument creating charge |
Agreement of
hypothecation of movable property for Letter of Credit dated 11th
September 207. |
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Date of
instrument Creating the charge |
11.09.2007 |
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Amount secured by
the charge |
Rs.30.000
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
Interest 14% p.a. with monthly rests or at such rates as may be prescribed in future
by the Bank from time to time. ·
Terms of
repayment Repayable in Demand ·
Margin 20% in FDR ·
Extent and
operation of the charge Type of facility : Letter of Credit ·
Others As per terms and
condition |
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Particulars of
the property charged |
Borrower/s doth
do hereby hypothecate to and in favour of the bank all the goods under LC
tangible movable property including stock for the time being whether new or
manufactured or in process of manufacturing and every tangible movable goods
/ property/machinery/plant (both present and future as and when imported to
borrower/s place of business at Pune and ealsewhere. |
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.42.93 |
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UK Pound |
1 |
Rs.84.17 |
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Euro |
1 |
Rs.66.82 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
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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27 |
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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