MIRA
INFORM REPORT
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Report Date : |
02.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
DARUKA AND COMPANY MICA PRIVATE LIMITED |
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Registered Office : |
1/1A, Biplabi Anukul, Chandra Street, Kolkata – 700 072, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
18.01.1985 |
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Com. Reg. No.: |
21-038438 |
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CIN No.: [Company
Identification No.] |
U23209WB1985PTC038438 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALD03058G |
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PAN No.: [Permanent
Account No.] |
AAACD8855D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Mica products. |
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 14000 |
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Status : |
Satisfactory |
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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 having
satisfactory track. Trade relations are fair. Busniess is active. Payments are
reported as usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office/Factory : |
1/1A, Biplabi Anukul, Chandra Street, Kolkata – 700 072, West Bengal,
India |
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E-Mail : |
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Website : |
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Administrative Office : |
3/302 Ashish Complex, 3rd Floor, New Rajdhani Enclave,
Vikas Marg, New Delhi – 110 092, India |
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Tel. No.: |
91-11-42441270 / 42441271 |
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Mobile No: |
91-9810063737 |
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Fax No.: |
91-11-42441272 / 42444748 |
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E-Mail : |
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Corporate Office : |
4th Electronic Centre 1/1A B, Anukul CH Street, Kolkata –
700 072, West Bengal, India |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Shankar Lal Daruka |
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Designation : |
Director |
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Address : |
1/1A, Biplabi Anukul, Chandra Street, Kolkata – 700 072, West Bengal,
India |
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Date of Birth/Age : |
09.03.1955 |
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Date of Appointment : |
18.01.1985 |
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Name : |
Mrs. Sunila Daruka |
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Designation : |
Director |
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Address : |
1/1A, Biplabi Anukul, Chandra Street, Kolkata – 700 072, West Bengal,
India |
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Date of Birth/Age : |
12.09.1961 |
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Date of Appointment : |
15.11.1985 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Shnakar Lal Daruka |
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610 |
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Mrs. Sunila Daruka |
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150 |
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Mr. Satyanarayan Daruka |
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100 |
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Mrs. Vidya Devi Daruka |
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100 |
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Mr. S B Tibrewal |
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50 |
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Mrs. Kusum Tibrewal |
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80 |
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Mr. Kashi Prasad Daruka |
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100 |
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Mrs. Parabha Daruka |
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100 |
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Mr. Bishwanath Daruka |
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100 |
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Mrs. Kishan Daruka |
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110 |
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Total
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1500 |
Equity Shares Breakup (Percentage of Total Equity):
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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 Mica products. |
GENERAL
INFORMATION
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Bankers : |
· Andhra Bank,Preet Vihar Branch, Delhi, India · Citi Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
R S Dani and Company Chartered Accountants |
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Address : |
G -80/302, 3rd Floor, Gupta Complex, Laxmi Nagar, New Delhi
– 110 092, India |
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Associates/Subsidiaries : |
Daruka Isolants Activity: Manufacturer and Exporter of Mica Mineral, Mica Flakes, Mica Powder, Mica Scrap and other Micanite Products in India. |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.500 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500 |
Equity Shares |
Rs. 100/- each |
Rs. 0.150
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.150 |
0.150 |
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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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3.332 |
3.221 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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3.482 |
3.371 |
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LOAN FUNDS |
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1] Secured Loans |
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1.365 |
1.545 |
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2] Unsecured Loans |
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0.111 |
0.326 |
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TOTAL BORROWING |
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1.476 |
1.871 |
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DEFERRED TAX LIABILITIES |
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0.021 |
0.035 |
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TOTAL |
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4.979 |
5.277 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.999 |
1.109 |
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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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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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2.308 |
2.500 |
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Sundry Debtors |
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4.220 |
1.859 |
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Cash & Bank Balances |
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2.156 |
1.068 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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1.817 |
2.550 |
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Total
Current Assets |
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10.501 |
7.977 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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6.301 |
3.680 |
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Provisions |
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0.220 |
0.129 |
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Total
Current Liabilities |
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6.521 |
3.809 |
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Net Current Assets |
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3.980 |
4.168 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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4.979 |
5.277 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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27.108 |
15.103 |
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Other Income |
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0.082 |
0.115 |
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Total Income |
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27.190 |
15.218 |
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Profit/(Loss) Before Tax |
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0.166 |
NA |
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Provision for Taxation |
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0.055 |
NA |
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Profit/(Loss) After Tax |
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0.111 |
NA |
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Import Value |
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0.290 |
0.892 |
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Export Value |
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15.479 |
7.030 |
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Expenditures : |
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Financial Charges |
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0.125 |
NA |
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Other Expenditure |
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26.774 |
NA |
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Total Expenditure |
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26.899 |
NA |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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0.41 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.61 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.44 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.05 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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2.30 |
1.68 |
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Current Ratio (Current Asset/Current Liability) |
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1.61 |
2.09 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
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Name of the
company |
DARUKA AND COMPANY MICA PRIVATE LIMITED |
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Presented
By |
Mr. Shankar Lal
Daruka |
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1) Date and
description of instrument creating the change |
Composite
Agreement for hypothecation / pledge
dated 12.02.2004 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 1.250 millions with sublimit of Rs. 0.500 million for clean packing credit |
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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 |
Export Bills against confirmed orders / LC or prime Bank along with bill of lading / airnary bill evidencing export of goods now owing or may become owing (i.e present and future ) |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
WIPSG cover of ECGC for FDBP WIPSG cover of ECGC for Clean PC Margin of FSDBP =Nil On interest at applicable BMPLR i.e 10.50%
plus / minus spread of as applicable. |
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5) Name and
Address and description of the person entitled to the charge. |
Andhra Bank , Preet Vihar Branch, Delhi |
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6) Date and brief description of instrument
modifying the charge |
Composite
Agreement dated 26.04.2005 Comp No. 35101
dated 26.04.2005 RF 289A Dated
26.04.2005 |
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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. |
After Before Modification
Modification Packing credit
/ 15.00 12.50 FDBP Sublimit PC 8.00 5.00 |
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
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.26 |
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UK Pound |
1 |
Rs.79.88 |
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Euro |
1 |
Rs.61.26 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
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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48 |
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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