MIRA INFORM
REPORT
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Report Date : |
18.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAHU AGENCIES PRIVATE LIMITED |
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Registered Office : |
Sahu Theatre Building, Hazaratganj, Lucknow – 226001, Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
09.06.1994 |
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Com. Reg. No.: |
20-16534 |
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CIN No.: [Company
Identification No.] |
U12114UP1994PTC016534 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
LKNS05740A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader of Refrigerators, Colour or Black and White T.V |
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 97000 |
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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 records. Trade relations are reported as fair. Business 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 : |
Sahu Theatre Building, Hazaratganj, Lucknow – 226001, Uttar Pradesh,
India |
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Tel No.; |
91-522-3914437 / 2611940 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Vijay Kumar Sahu |
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Designation : |
Director |
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Address : |
35 A Friends Colony, Gokhale Marg, Lucknow , Uttar Pradesh, India |
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Date of Birth/Age : |
09.01.1962 |
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Date of Appointment : |
09.06.1994 |
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Name : |
Mr. Neeraj Kumari Sahu |
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Designation : |
Director |
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Address : |
35 A Friends Colony, Gokhale Marg, Lucknow , Uttar Pradesh, India |
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Date of Birth/Age : |
02.03.1967 |
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Date of Appointment : |
09.06.1994 |
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. Vijay Kumar Sahu |
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619286 |
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Mr. Neeraj Kumar Sahu |
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372285 |
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Mr. Ajay Kumar Sahu |
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44286 |
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Mr. Prakash Kumar Sahu |
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571 |
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Mr. Subhash Kumar Sahu |
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7857 |
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Mr. Sanjay Kumar Sahu |
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27142 |
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Mrs. Charulata Sahu |
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71429 |
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Mrs. Nisha Sahu |
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71429 |
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Mr. Akash Kumar Sahu |
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214286 |
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Vision Holidays Private Limited |
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71429 |
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Mumpee Trades Private Limited |
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59000 |
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Holi Vyapaar Private Limited |
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50000 |
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Puspak Vyapaar Private Limited |
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50000 |
Equity Shares Breakup (Percentage of Total Equity): [As on 31.03.2006]:-
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Sr No. |
Category |
Percentage |
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1 |
Bodies Corporate |
13.42 |
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2 |
Directors or relative of directors |
81.79 |
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3 |
Other top fifty (50) shareholders |
4.79 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Refrigerators, Colour or Black and White T.V |
GENERAL
INFORMATION
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Bankers : |
Ř Canara Bank Address: Hazrat Ganj, Lucknow – 226 001, Uttar Pradesh, India Ř Punjab National Bank Ř Allahabad Bank Ř Bank of India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Chaturvedi and Company Chartered Accountants |
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Address : |
105 Prince Complex, Hazrat Ganj, Lucknow – 226 001, Uttar Pradesh,
India |
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Related Parties : |
Gemini Continental Private Limited Gemini Mobiles Private Limited Moonstar Merchandise Private Limited Sunny Motors Private Limited Sahu Enterprises Private Limited |
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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1500000 |
Equity Shares |
Rs. 10/- each |
Rs.15.000
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 |
15.000 |
10.500 |
10.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
9.031 |
12.211 |
10.833 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
24.031 |
22.711 |
21.333 |
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LOAN FUNDS |
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1] Secured Loans |
119.103 |
94.781 |
89.212 |
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2] Unsecured Loans |
62.446 |
49.937 |
44.972 |
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TOTAL BORROWING |
181.549 |
144.718 |
134.184 |
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DEFERRED TAX LIABILITIES |
0.128 |
0.184 |
0.231 |
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TOTAL |
205.708 |
167.613 |
155.748 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
25.963 |
25.161 |
24.281 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.723 |
1.723 |
1.723 |
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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 |
135.998
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108.952 |
114.550 |
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Sundry Debtors |
28.765
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34.415 |
30.029 |
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Cash & Bank Balances |
10.338
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6.567 |
3.145 |
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Other Current Assets |
0.238
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0.200 |
0.177 |
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Loans & Advances |
16.547
|
9.133 |
8.869 |
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Total
Current Assets |
191.886
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159.267 |
156.770 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
13.850
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18.492 |
27.026 |
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Provisions |
0.014
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0.046 |
0.00 |
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Total
Current Liabilities |
13.864
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18.538 |
27.026 |
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Net Current Assets |
178.022
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140.729 |
129.744 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
205.708 |
167.613 |
155.748 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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705.933 |
605.042 |
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Total Income |
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705.933 |
605.042 |
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Profit/(Loss) Before Tax |
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1.501 |
1.658 |
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Provision for Taxation |
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0.181 |
0.280 |
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Profit/(Loss) After Tax |
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1.320 |
1.378 |
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Expenditures : |
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Financial Charges |
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0.884 |
0.912 |
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Depreciation & Amortization |
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2.832 |
2.766 |
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Other Expenditure |
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700.716 |
599.706 |
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Total Expenditure |
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704.432 |
603.384 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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0.18
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0.22 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.21
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0.27 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.68
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0.89 |
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Return on Investment (ROI) (PBT/Networth) |
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0.06
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0.07 |
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Debt Equity Ratio (Total Liability/Networth) |
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8.13
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7.18 |
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Current Ratio (Current Asset/Current Liability) |
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13.84
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8.59 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
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Corporation identity number or foreign company registrations number of
the company |
U12114UP1994PTC016534 |
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Name of the company |
SAHU AGENCIES
PRIVATE LIMITED |
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Address |
Sahu
Theatre Building Ghazarat Lucknow, Uttar Pradesh – 226 001, India |
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This Form is for |
Modification of charge |
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Type of Charges |
· Book Debts · Movable Property |
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Particular of the charge holder
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Canara Bank Address: Hazrat Ganj, Lucknow – 226 001, Uttar Pradesh, India Email ID: jkscoknp@gmail.com |
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Nature or description of the instrument creating charge |
Supplemental common hypothecation agreement Pronote |
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Date of the instrument creating charge |
27.04.2007 |
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Amount Secure by the charge |
Rs. 140.000 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest : On Adhoc Cash credit limit Rs. 15.000 millions @4.50% above ongoing
Bench mark PLR with a minimum of 17.75% per annum with monthly rests. Terms of repayment: Cash credit : repayable on demand Term Loan : as per earlier schedule Margin: As per hypothecation agreement terms. Extent and operation of the charge: The Company’s properties as mentioned hereunder are hypothecated to secure
credit facilities aggregating to Rs. 140.600 millions granted by the bank to
the borrower. |
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Short particulars of the Property charged |
Hypothecation of stock of Television , washing Machine, mobile Phones,
Music systems, Fridge and other such electronic items and home appliances
kept at the shops of the borrower at Hazratganj, Indira Nagar, Aliganj, Sony
World, Alambagh, Gomti Nagar, Warehouse Mahanaga Lucknow or wherever else or
in transit. Hypothecation of book debts, etc. |
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Particulars of the Present Modification |
CC limit has been enhanced from Rs. 120.000 millions to Rs. 135.000
millions. However, term loan remain same at Rs. 5.600 million. Therefore,
total amount of charge secured against hypothecation of stocks, book debts,
etc as per details mentioned in column no. 14 above has now enhanced from Rs.
125.600 millions to Rs. 140.600 millions. Breakup of enhanced credit
facilities are as under:- OCC Limit - Rs. 135.000 millions Term Loan – Rs. 5.600 millions Total – Rs. 140.600
millions |
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.77 |
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UK Pound |
1 |
Rs.82.10 |
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Euro |
1 |
Rs.64.48 |
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 |
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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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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54 |
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 |
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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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