MIRA
INFORM REPORT
|
Report Date : |
03.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
ULTRA TECHNOLOGIES PRIVATE LIMITED |
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Registered Office : |
C 16/A, Basement , Kalkaji, New Delhi – 110 019 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
29.11.1999 |
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Com. Reg. No.: |
55-102584 |
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CIN No.: [Company
Identification No.] |
U32109DL1999PTC102584 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Water Purifying and Scientific Equipments. |
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 19000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established company having satisfactory track. It
earns commission on product sold as well as do direct sales. Their trade relations are fair. The company is talking with Gems
International, USA for credit. The company’s payments are usually correct and as per commitments. It can be considered good for normal business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
C 16/A, Basement , Kalkaji, New Delhi – 110 019, India |
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Tel. No.: |
91-11-26435280 / 26535279 |
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Fax No.: |
91-11-26227122 |
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E-Mail : |
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Website : |
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Area : |
1200 Sq.fts |
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Location : |
Owned |
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Administrative Office : |
DD1, Kalkaji Extension, New Delhi - 110 019, India |
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Tel. No.: |
91-11-643 5279 |
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Factory : |
A-65, Sector 58, Noida - 201 301, Uttar Pradesh, India |
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Tel. No.: |
91-11-643 5279 / 80 |
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Branches : |
Kolkata , India |
DIRECTORS
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Name : |
Mr. Lalit Khera |
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Designation : |
Director |
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Address : |
1657, Sector 37, Noida, Uttar Pradesh, India |
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Name : |
Mr. A. B. Joshi |
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Designation : |
Director |
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Address : |
B-14/03, Himgiri, New Delhi, India |
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Name : |
Mr. Bipin Chander |
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Designation : |
Director |
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Address : |
16/3, 2nd Floor, Mehrauli, New Delhi, India |
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Date of Birth/Age : |
07.05.1970 |
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Date of Appointment : |
19.07.2004 |
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Name : |
Mr. Kamaljit Singh |
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Designation : |
Director |
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Address : |
1, Kiran Vihar, Delhi - 110 092, India |
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Name : |
Mr. Saif Mobin |
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Designation : |
Director |
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Address : |
150, Zakir Bagh, New Delhi - 110 025, India |
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Date of Birth/Age : |
34 years / 12.11.1974 |
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Qualification : |
B. Tech Civil Engineer |
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Experience : |
12 years |
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Date of Appointment : |
14.01.2000 |
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Name : |
Mr. Krishan Pal Singh |
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Designation : |
Director |
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Address : |
B -75, Old Thermal Colony, NIT Faridabad – 121 001, Haryana, India |
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Date of Birth/Age : |
14.10.1976 |
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Date of Appointment : |
28.01.2008 |
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Name : |
Mr. Bipin Phuloria |
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Designation : |
Director |
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Address : |
D – 65-B, 2nd floor, Freedom Fighter Colony, NEB Sarai, New
Delhi – 110 068, India |
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Date of Birth/Age : |
07.05.1970 |
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Date of Appointment : |
19.07.2004 |
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. Bipin Phuloria |
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2500 |
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Mr. Neeraj Chadha |
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9010 |
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Mr. Saif Mobin |
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11110 |
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Mr. Kamaljit Singh |
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10210 |
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Mr. Harpreet Singh |
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2500 |
Equity Shares Breakup (Percentage of Total Equity): (as on 31.03.2007):-
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Sr No. |
Category |
Percentage |
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1 |
Directors or relative of directors |
69.87 |
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2 |
Other top fifty (50) Shareholders |
30.13 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Water Purifying and Scientific Equipments. |
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Imports : |
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Products : |
Testing, Equipments |
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Countries : |
US, UK, Australia |
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Terms : |
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Selling : |
Credit (30 days) |
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Purchasing : |
L/C, Prepaid |
GENERAL
INFORMATION
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Suppliers : |
· Wykeham Farrance · Bridge Diagnostics Inc. · Durham Geo Slope Indicator · Shore Western · Earthquake Safety Systems Inc · Dynatest Denmark A/S · 3 D Radar AS · Instrotek Inc · Troxler Labs · Times Group China · PMD Scientific Equipmernts, USA · Geopro GmbH, Germany · GTSM Technologies , Australia · Terrascience Systems Limited, Canada · Zonge Engineering and Research Organization , USA · Quakefinder Inc, USA · Sarad Environmental Instruments , Germany · PASI , SRL, Italy · Marine Magnetic, Canada · GWR Instruments , Canada · Magson GmbH, Germany · Quantum Magnetometry Laboratory, Russia. |
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Customers : |
Contractors Research Institutions · Indian Institute of technology Delhi · Indian Institute of technology Kanpur · Indian Institute of technology Bombay · Indian Institute of technology Madras · Indian Institute of Technology Roorkee · Indian Institute of Technology Guwahati · Indian Institute of Technology Kharagpur · National Geophysical Research Institute Kolkata · Central Road Research Institute Kolkata · Jadavpur University Kolkata · Madhya Pradesh Rural Road Development · National Metallurgical Laboratory Jamshedpur · National Council of Cement and Building Material Ballabgarh |
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No. of Employees : |
14 |
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Bankers : |
· ICICI Bank · Centurion Bank of Punjab Limited Address: M – 39 Connaught Circus, New Delhi – 110 001,
India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Sundeep Jindal |
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Address : |
B -138, Navakaar Building, 2nd Floor, Mohammadpur, Bhikaji
Cama Place, New Delhi – 110 066, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40040 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.400
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
0.400 |
0.353 |
0.353 |
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2] Share Application Money |
0.000 |
0.225 |
0.679 |
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3] Reserves & Surplus |
4.252 |
1.800 |
0.461 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
4.652 |
2.378 |
1.493 |
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LOAN FUNDS |
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1] Secured Loans |
0.759 |
0.358 |
0.013 |
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2] Unsecured Loans |
0.000 |
0.640 |
0.755 |
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TOTAL BORROWING |
0.759 |
0.998 |
0.768 |
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DEFERRED TAX LIABILITIES |
0.036 |
0.046 |
0.046 |
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TOTAL |
5.447 |
3.422 |
2.307 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.204 |
1.633 |
0.593 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
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 |
0.060
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0.020 |
0.020 |
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Sundry Debtors |
4.139
|
2.210 |
0.017 |
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Cash & Bank Balances |
4.930
|
2.238 |
0.505 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
4.591
|
1.100 |
1.699 |
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Total
Current Assets |
13.720
|
5.568 |
2.241 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
8.184
|
3.779 |
0.527 |
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Provisions |
2.293
|
0.000 |
0.000 |
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Total
Current Liabilities |
10.477
|
3.779 |
0.527 |
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Net Current Assets |
3.243
|
1.789 |
1.714 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
5.447 |
3.422 |
2.307 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
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15.872 |
11.463 |
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Other Income |
|
0.000 |
0.000 |
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Total Income |
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15.872 |
11.463 |
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Profit/(Loss) Before Tax |
|
3.744 |
2.094 |
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Provision for Taxation |
|
1.300 |
0.704 |
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Profit/(Loss) After Tax |
|
2.444 |
1.390 |
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Export Value |
|
13.236 |
2.139 |
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Import Value |
|
1.103 |
4.972 |
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Total Expenditure |
|
12.128 |
9.369 |
KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
15.39
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12.13 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
23.58
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18.26 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
23.51
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29.07 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.80
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0.88 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.42
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2.00 |
0.87 |
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Current Ratio (Current Asset/Current Liability) |
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1.31
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1.47 |
4.25 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
|
Corporation identity number or foreign company registrations number of
the company |
U32109DL1999PTC102584 |
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Name of the company |
ULTRA
TECHNOLOGIES PRIVATE LIMITED |
|
Address |
C- 16/A, Basement
Kalkaji, New Delhi – 110 019, India |
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This Form is for |
Modification of charge |
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Type of Charges |
· Book Debts · Movable Property · Others |
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Particular of the charge holder
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Centurion Bank of Punjab Limited Address: M – 39 Connaught Circus, New Delhi – 110 001, India E-Mail: selvam.deep@gmail.com
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Nature or description of the instrument creating charge |
Supplemental hypothecation of goods, vehicles , plant and machinery ,
stock and book debts dated 24.01.2008 |
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Date of the instrument creating charge |
24.01.2008 |
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Amount Secure by the charge |
Rs. 17.000 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest : As per bank norms Terms of repayment: Repayment as per bank norms Margin: Margin as per Bank norms Extent and operation of the charge: 100% Others First charge on stock book debts, current and fixed assets present and
future is to be secure the bank guarantee-I Rs. 4.000 millions, bank
guarantee-II Rs. 4.000 millions and
Letter of credit DP (One Time) Rs. 9.000 millions aggregating to Rs. 17.000
millions sanctioned to the company. |
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Short particulars of the Property charged |
First charge on Stocks, Book Debts, Plant and Machinery Current and
Fixed Assets present and future. |
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Particulars of the present modification |
Amount secured is increased from Rs. 4.000 millions to Rs. 17.000
millions to secure the bank guarantee –I Rs. 4.000 millions , Bank guarantee
II Rs. 4.000 millions and letter of credit DP (One time) Rs. 9.000 millions
aggregating to Rs. 17.000 millions sanctioned to the company. Security: first charge on stocks, book debts, plant and machinery
current and fixed assets present and future. |
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Name of the
company |
ULTRA TECHNOLOGIES PRIVATE LIMITED |
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Presented By |
CC 30, Nehru
Enclave, New Delhi – 110 019, India |
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1) Date and
description of instrument creating the change |
Agreement of
hypothecation of goods and assets and Omnibus counter guarantee both dated
02.12.2005 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 1.500
millions |
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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 |
Hypothecation of entire
assets of the company |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
Cash margin of 25% Commission 2% per annum |
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5) Name and
Address and description of the person entitled to the charge. |
Centurion Bank Limited, CC- 30, Nehru
Enclave, New Delhi -110 019 |
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6) Date and brief description of instrument
modifying the charge |
NA |
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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. |
NA |
WEBSITES DETAILS:-
The company provides comprehensive solutions to professionals in the field of Structural
Engineering, Earth Sciences, Geotechnical Engineering, Materials Testing, Non
Destructive Testing, Pavement Engineering and Seismology.
These solutions are
offered to a wide range of industry segments such as Oil and Gas, Construction,
Earthquake Monitoring and Forecasting, Tectonic and Stability Studies,
Education, Research and Development and Highways and Bridges.
Their Instrumentation Division specializes in the design,
supply, installation, demonstration and after sales services of laboratory and
field testing instruments. They represent a number of overseas companies for
their entire range of products in the above mentioned industry segments.
Their Structural Diagnostic and Engineering Services
Division does
specialized work in the areas of Condition Assessment of Structures and
Infrastructure using Advanced Non Destructive Evaluation techniques which have
repeatedly proven their superiority over the conventional diagnostic
techniques; Health Monitoring of Structures using state of the art intelligent
transducers with data acquisition system and advanced analytical techniques;
Load Rating, Fatigue and Residual Life Analysis of Bridges; Comprehensive
Solutions for Geotechnical Engineering problems ranging from remedial measures
for Failing Slopes to Advanced Numerical Analysis based solutions.
Their Geophysical Services Division provides comprehensive services in the field
of acquisition and analysis of geophysical data for Geotechnical Engineering,
Structural Engineering and Environmental Applications, 2D/3D subsurface imaging
using Seismic, Ground Penetrating Radar (GPR), Electrical Resistivity /IP,
Magnetometry, Electromagnetic (EM) methods such TEM, CSAMT, MT / AMT etc.,
Airborne geophysical surveys in the filed of magnetics, Gamma Spectrometry,
Gravity, Electromagnetics etc. and WARRP, Migration, Seismology Investigations,
2D + 3D Potential Field Modeling, High Resolution Seismics, MMT, CSEM etc...
Their Pavement Testing Division in collaboration with its overseas technical
associates offers comprehensive Pavement Testing Services, including Pavement
Deflection, 3-D mapping of the Pavements/slabs/bridge decks, Stiffness
Profiling, Density and Compaction Studies, Roughness Index etc.
The company provides Super Heavy Weight Deflectometer (7kN-300kN), 3-D Radar,
Spectral Analysis of Surface Waves, Nuclear Density Moisture Gauge and Bump
Integrator for its clients. The Advanced range of Non Destructive Testing
Equipment/ Techniques available with The company provide and insight to the
pavement condition. These include Slab Impulse Response/ Impact Echo,
Structural Tomography, Concrete Test Hammer etc.
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.40.55 |
|
UK Pound |
1 |
Rs.80.20 |
|
Euro |
1 |
Rs.62.74 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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 |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|