MIRA
INFORM REPORT
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Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
GANGA CONTRACTOR AND PROJECTS LIMITED |
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Registered Office : |
203,
Dohil Chambers, 46, Nehru Place, New Delhi – 110 019 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
04.08.1989 |
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Com. Reg. No.: |
037251 |
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CIN No.: [Company
Identification No.] |
U45201DL1989PLC037251 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELG09746C |
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PAN No.: [Permanent
Account No.] |
AABCG2726R |
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Legal Form : |
A closely held public limited liability company |
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Line of Business : |
Construction of Commercial, Residential
and Hospitals and Industrial Buildings. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Unknown |
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Comments : |
Subject is an established company having moderate track. It is poor
in Corporate Governance as no financials are available since incorporation
of the company. The company’s payments are reported as slow and delayed. The company
can be considered for any business dealings on safe and secured trade terms
and conditions. |
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INFORMATION
PARTED BY
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Name : |
Mr. S. K. Jain |
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Designation : |
Accounts Manager |
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Date : |
15.05.2008 |
LOCATIONS
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Registered Office : |
203,
Dohil Chambers, 46, Nehru Place, New Delhi – 110 019, India |
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Tel. No.: |
91-11-26481010 |
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E-Mail : |
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Area : |
900 Sq.fts
(approximately) |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Satish Kumar
Gaddh |
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Designation : |
Managing Director |
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Name : |
Mr. Jaswant Singh
Malik |
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Designation : |
Director |
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Name : |
Mr. J K Soni |
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Designation : |
Director |
BUSINESS DETAILS
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Line of Business : |
Construction of Commercial,
Residential and Hospitals and Industrial Buildings. |
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Terms : |
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Services provided on : |
Cash, Credit
(30-60) days, Advance |
GENERAL
INFORMATION
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Customers : |
End Users Others |
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No. of Employees : |
Around 20 |
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Bankers : |
·
Central
Bank of India Saket Branch ·
Punjab
National Bank Chanakyapuri , New Delhi -110 021, India |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Sanjeev Migloni and
Associates Chartered
Accountants |
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Address : |
New Delhi – 110 019, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000
millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
(Financials: Since incorporation of the company, no financials are available. The company is poor in Corporate Governance. )
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover (approximately) |
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40.000 |
16.700 |
Expected Sales (2008-09) : Rs.90.000 millions (approximately)
LOCAL AGENCY
FURTHER INFORMATION
Trade References
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·
Rajendra Iron Traders
Address: C -54, East Krishnanagar, Opposite Swarna Cinema , Delhi – 110 051, India
(Mr. Ahuja)
Mobile No.:– 91-9899822518
Tel No.: 91-11-22091232
· Gauri Shankar Iron Stores
Address: 806, Samman Bazar, Jangpura, Bhogal, New Delhi – 110 014, India
(Mr. Gauri Shankar)
Mobile
No.: 91-9811068638
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.42.94 |
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UK Pound |
1 |
Rs.84.52 |
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Euro |
1 |
Rs.66.73 |
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 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
- |
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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 |
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 |
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 |
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25 |
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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