MIRA
INFORM REPORT
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Report Date : |
21.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
ANUBHUTI ESTATE PRIVATE LIMITED |
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Registered Office : |
S N House, First Floor, Opp. Rock Regency Hotel, Off C. G. Road,
Ahmedabad – 380 006, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
15.09.2004 |
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Com. Reg. No.: |
04-44736 |
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CIN No.: [Company
Identification No.] |
U45201GJ2004PTC044736 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMA05468B |
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PAN No.: [Permanent
Account No.] |
AAFCA0002N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Construction Activity (Commercial) |
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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Maximum Credit Limit : |
USD 800 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a 4 years old company having moderate track records. Its profitability is under pressure having some accumulated losses. Payments are reported slow but correct. The company can be considered for small to mediocre business dealings. |
INFORMATION PARTED
BY (GENERAL DETAILS)
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Name : |
Mr. Divyesh Gandhi |
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Designation : |
Purchase Manager |
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Contact No.: |
91-9925226100 |
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Date : |
14.06.2008 |
LOCATIONS
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Registered Office : |
S N House, First Floor, Opp. Rock Regency Hotel, Off C. G. Road,
Ahmedabad – 380 006, Gujarat, India |
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Tel. No.: |
91-79-26464095-6 |
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Mobile No.: |
91-9925226100 |
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Fax No.: |
91-79-26468093 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Bipinbhai Dahyalal Soni |
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Designation : |
Director |
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Address : |
A/9, Surya Complex, Opp. Amco Bank, Gurukul Road, Memnagar, Ahmedabad
– 380 052, Gujarat, India |
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Date of Appointment : |
16.09.2004 |
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Name : |
Mr. Mahendrakumar Karshandas Shah |
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Designation : |
Director |
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Address : |
104, Shreeji Palace, Nr. Paliyad Nagar, Nr. Navrang School,
Navarngpura, Ahmedabad – 380 013, Gujarat, India |
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Date of Appointment : |
16.09.2004 |
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Name : |
Mr. Ajay Jaysukhlal Mehta |
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Designation : |
Director |
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Address : |
2/4, Vishram Appartment, Nr. R. C. Patel School, Vasna, Ahmedabad –
380 007, India |
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Date of Appointment : |
16.09.2004 |
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Name : |
Mr. Suresh Ugarchand Gadhecha |
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Designation : |
Director |
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Address : |
603, G. H. B. Complex, Nr. Ankur Bus Stop, Naranpura, Ahmedabad – 380
013, Gujarat, India |
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Date of Appointment : |
01.12.2004 |
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Name : |
Mr. Mahendrakumar Karshandas Shah |
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Designation : |
Director |
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Address : |
104, Shreeji Palace, Nr. Paliyad Nagar, Nr. Navrang School,
Navarngpura, Ahmedabad – 380 013, Gujarat, India |
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Date of Appointment : |
01-04-2005 (Re – Appointment) |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 23.09.2005)
|
Names of Shareholders |
No. of Shares |
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Bipinbhai Dahyalal Soni |
7200 |
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Mahendrakumar Karshandas Shah |
7200 |
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Ajay Jaysukhlal Mehta |
7200 |
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Kamlesh Jayantilal Jhaveri |
7200 |
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Shailesh Jaswantray Bhatt |
7200 |
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Dhaval Pravinchandra Sukhadia |
7000 |
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Purnima Narendrabhai Trivedi |
7000 |
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Total |
50000 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
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Category |
Percentage |
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Directors or relatives of Director |
98.00 |
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Other top 50 Shares Holder |
2.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Construction Activity (Commercial) |
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Terms : |
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Selling : |
Cash and Credit – 30 days / 60 days |
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Purchasing : |
Cash and Credit – 30 days / 60 days |
GENERAL
INFORMATION
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Customers : |
End Users Co-operate Company |
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No. of Employees : |
5 |
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Bankers : |
·
Axis Bank Ellisbridge, Ahmedabad – 380 006, Gujarat,
India ·
Uco Bank Ellisbridge, Ahmedabad – 380 006, Gujarat,
India ·
Union Bank of India Limited Mesuem Branch, Ahmedabad – 380 007,
Gujarat, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Dhiren Shah and Company Chartered Accountants 2nd Floor, Opp. Swastik Avenue, C. G. Road, Navrangpura,
Ahmedabad – 380 009, Gujarat, India. |
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Associates/Subsidiaries : |
C.T.S. Developers Private Limited Shivalik Infra Projects Private Limited Shivalik Infra Management Private Limited Shushrusha Infrastructure Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 million |
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Total |
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Rs. 0.500
million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 million |
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Total |
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Rs. 0.500
million |
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 |
0.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(0.331) |
(0.454) |
0.000 |
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NETWORTH |
0.169 |
0.046 |
0.500 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
27.531 |
11.450 |
5.497 |
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TOTAL BORROWING |
27.531 |
11.450 |
5.497 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
27.700 |
11.496 |
5.997 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.010 |
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 |
0.000
|
0.000 |
19.700 |
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Sundry Debtors |
0.000
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0.000 |
0.000 |
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Cash & Bank Balances |
0.219
|
0.186 |
0.506 |
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Other Current Assets |
32.809
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29.031 |
0.000 |
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Loans & Advances |
2.798
|
0.048 |
0.000 |
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Total
Current Assets |
35.826
|
29.265 |
20.206 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
7.718
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17.690 |
14.236 |
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Provisions |
0.428
|
0.105 |
0.003 |
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Total
Current Liabilities |
8.146
|
17.795 |
14.239 |
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Net Current Assets |
27.680
|
11.470 |
5.967 |
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MISCELLANEOUS EXPENSES |
0.020 |
0.016 |
0.030 |
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TOTAL |
27.700 |
11.496 |
5.997 |
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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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211.11
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635.76 |
39.472 |
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Current Ratio (Current Asset/Current Liability) |
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4.40
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1.64 |
1.42 |
LOCAL AGENCY
FURTHER INFORMATION
The Registered Office of the Company has been shifted from 405, Shubham
Complex, Opp. Jain Derasar, Navrangpura, Ahmedabad – 380 009, Gujarat, India to
the present address with effect from 18.11.2006.
Trade References :
·
L and T – Mumbai
·
Phinolex – Mumbai
·
H and R Johnson India Limited – Mumbai
Form No. 8
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Corporate
identity number of the company |
U45201GJ2004PTC044736 |
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Name of the
company |
ANUBHUTI ESTATE PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
405, Shubham Complex, Opp. Jain Derasar, Navrangpura, Ahmedabad – 380
009, Gujarat, India. |
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This form is for |
Creation of
charge |
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Type of charge |
Immovable
property |
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Particular of
charge holder |
Union Bank of India Limited Mesuem Branch, Ahmedabad – 380 007, Gujarat, India |
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Nature of
instrument creating charge |
Equitable mortgage
by Memorandum of Deposit of title deeds as collateral security for the term
loan of Satkar Realties Private Limited. |
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Date of
instrument Creating the charge |
04.10.2006 |
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Amount secured by
the charge |
Rs.60.000
millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
·
Rate of
Interest Int. B.P.R.L. i.e. 10.75% p.a. (Convert FCIL @ LIBOR+2008. P.S.) 12 EMI commencing from 15th April. ·
Terms of
repayment 12 EMI commencing from 15th April. ·
Margin Margin 64% ·
Extent and
operation of the charge As collateral Security |
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Particulars of
the property charged |
Immovable
Property of None Agricultural Land being Sub Plot No 1 Admeasuring 2658 sq. yards
i. e. 2222.66 sq. Mtrs of Final plot No 992 and 993, Town planning Scheme No.
3 situated at Mouje Paldi, od City Taluka in the registration District
Ahmedabad and Sub-District Ahmedabad-4 (Paldi) to gether with old residential
Bungalow and other superstructure standing thereon and situated at the “The
Mahalaxmi Co-Operative Housing Society 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] 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.42.97 |
|
UK Pound |
1 |
Rs.84.75 |
|
Euro |
1 |
Rs.66.72 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
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 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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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 |
|
30 |
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 |
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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 |
|
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 |
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