MIRA
INFORM REPORT
|
Report Date : |
07.05.2008 |
IDENTIFICATION DETAILS
|
Name : |
ANNUPAM SYNTHETICS PRIVATE LIMITED |
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Registered Office : |
4806/3, First Floor, Ram Bazar, Cloth Market, Chandni Chowk, Delhi –
110006, India |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
09.12.1985 |
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Com. Reg. No.: |
55-022721 |
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CIN No.: [Company
Identification No.] |
U74899DL1985PTC022721 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Trader of Home Furnishing and Fabrics |
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 112500 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track.
Payments are reported as slow but correct. Trade relations are fair. Payments
are slow but correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
4806/3, First Floor, Ram Bazar, Cloth Market, Chandni Chowk, Delhi –
110006, India |
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Tel. No.: |
91-11-41064222 |
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E-Mail : |
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Website : |
http://www.anupamsynthetics.com/ |
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Factory : |
B-308, Okhla Industrial Area, Phase I, New Delhi – 110020, India |
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Tel. No.: |
91-11-26813737/ 41064222/ 32590027 |
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Fax No.: |
91-11-41064555 |
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Corporate Office: |
Village Bhankri, Opp Bapu Asaram Ashram. Badkhal Pali Road, Faridabad,
Haryana, India |
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Tel No.: |
91-129-2480339/ 26813637/ 26813737 |
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Fax No.: |
91-129-26818531 |
DIRECTORS
|
Name : |
Mr. Gulshan Kumar Luthra |
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Designation : |
Managing Director |
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Address : |
D-25, G K Enclave Part – I, New Delhi, India |
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Date of Birth/Age : |
14.02.1955 |
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Date of Appointment : |
01.08.1986 |
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Name : |
Mr. Shrey Luthra |
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Designation : |
Director |
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Address : |
D-25, G K Enclave Part – I, New Delhi, India |
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Date of Appointment : |
15.08.2004 |
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Name : |
Mr. Subhash Luthra |
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Designation : |
Director |
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Address : |
D-25, G K Enclave Part – I, New Delhi, India |
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Date of Birth/Age : |
26.11.1957 |
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Date of Appointment : |
01.08.1986 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
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No. of Shares |
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BLS Investment Private Limited |
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18200 |
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Mr. Gulshan Kumar Luthra |
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36450 |
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Mr. Shrey Luthra |
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2300 |
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Mr. Kshitij Luthra |
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3000 |
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Mrs. Sarita Luthra |
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8000 |
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Mr. Gulshan Kumar Luthra, HUF |
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6000 |
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Mr. Suresh Luthra |
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400 |
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Mrs. Subhash Luthra |
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1900 |
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Sarita Advertising Private Limited |
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1000 |
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Profan Finance and Investment Private Limited |
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1000 |
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Star Garments Private Limited |
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1000 |
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Melodi Electronics Private Limited |
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750 |
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Total |
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80000 |
(As on 31.03.2006)
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Category |
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Percentage |
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Bodies Corporate (Not mentioned above) |
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27.44 |
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Directors or relatives of directors |
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65.06 |
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Others |
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7.50 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Trader of Home Furnishing and Fabrics |
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Products : |
· Home Furnishing · Fabrics · Uniform
Fabrics And Work Wear · Garment
Women Wear · Sequin
Garment · Kids
Wear · Cloth
Mill · Suiting
And Shirting · Made
Ups · Denim,
Fabrics In Different Blends Poly And Cotton, · Military
Capri Jeans · Non
Denim Pleated Trouser · Military
Jacket · Capri · Denim
Shorts · Shorts · Apron · Industrial
Work Wear · Industrial
Apron · Mens
Denim Trousers · Mens
Denim Jackets · Mens
Jackets · Classic
Denim · Non
Denim Garments · Cotton
Kitchen Aprons · Printed
Kitchen Aprons · Designer
Kitchen Aprons · Cooking
Aprons · Kitchen
Apron Sets |
GENERAL
INFORMATION
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No. of Employees : |
150 |
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Bankers : |
· ABN Amro Bank · State Bank of
Patiala · ICICI Bank · Canara Bank · Union Bank of India · SSI Branch, Okhla Industrial Area, Phase –
I, New Delhi, India |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Arora and Choudhary Associates Chartered Accountant |
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Address : |
8/28 W E A Karol Bagh, New Delhi – 110005, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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80000 |
Equity Shares |
Rs.100/-
each |
Rs.8.000
Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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80000 |
Equity Shares |
Rs.100/-
each |
Rs.8.000
Millions |
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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 |
8.000 |
8.000 |
4.600 |
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2] Share Application Money |
5.150 |
6.946 |
0.000 |
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3] Reserves & Surplus |
14.975 |
14.203 |
5.451 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
28.125 |
29.149 |
10.051 |
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LOAN FUNDS |
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1] Secured Loans |
5.073 |
5.031 |
7.875 |
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2] Unsecured Loans |
3.040 |
2.854 |
31.410 |
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TOTAL BORROWING |
8.113 |
7.885 |
39.285 |
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DEFERRED TAX LIABILITIES |
1.542 |
1.534 |
1.560 |
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TOTAL |
37.780 |
38.568 |
50.896 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
7.102 |
8.300 |
9.054 |
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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 |
4.137
|
3.719 |
8.685 |
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Sundry Debtors |
23.584
|
23.379 |
30.663 |
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Cash & Bank Balances |
0.213
|
0.543 |
0.424 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
4.570
|
4.551 |
4.346 |
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Total
Current Assets |
32.504
|
32.192 |
44.118 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
1.015
|
1.303 |
2.139 |
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Provisions |
0.811
|
0.621 |
0.137 |
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Total
Current Liabilities |
1.826
|
1.924 |
2.276 |
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Net Current Assets |
30.678
|
30.268 |
41.842 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
37.780 |
38.568 |
50.896 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover (Including Other Income) |
20.318 |
20.404 |
45.663 |
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Total Income |
20.318 |
20.404 |
45.663 |
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Profit/(Loss) Before Tax |
1.063 |
0.586 |
0.414 |
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Provision for Taxation |
0.156 |
0.189 |
0.041 |
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Profit/(Loss) After Tax |
0.907 |
0.397 |
0.373 |
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Expenditures : |
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Financial Charge |
0.000 |
1.077 |
2.741 |
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Depreciation |
0.000 |
0.799 |
1.132 |
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Other Expenditure |
19.255 |
17.942 |
41.376 |
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Total Expenditure |
19.255 |
19.818 |
45.249 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
4.46
|
1.94 |
0.82 |
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Net Profit Margin (PBT/Sales) |
(%) |
5.23
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2.87 |
0.91 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.68
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1.45 |
0.78 |
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Return on Investment (ROI) (PBT/Networth) |
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0.04
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0.02 |
0.04 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.35
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0.34 |
4.13 |
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Current Ratio (Current Asset/Current Liability) |
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17.80
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16.73 |
19.38 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
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Name of the company |
ANNUPAM SYNTHETICS PRIVATE LIMITED |
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Presented By |
The Chief
Manager, Union Bank of India, SSI Branch, Okhla, New Delhi, India |
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1) Date and description of instrument creating the change |
Undertaking to deposit
title deeds of properties as collateral security Dated 30.03.2001 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.4.000 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 |
Property at
Kjasra No.414/2 and 41/1 at Village Bhankri, Tehsil and District Faridabad as
Security for the advances given by union Bank of India, SSI Branch, Okhla
Phase I, New Delhi |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interests @ 4%
p.a. above PLR subject to a minimum 16.50% p.a. other tyerms same. |
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5) Name and Address and description of the person entitled to the charge. |
Union Bank of
India SSI Branch, Okhla
Industrial Area, Phase – I, New Delhi, India |
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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 |
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.40.69 |
|
UK Pound |
1 |
Rs.80.25 |
|
Euro |
1 |
Rs.63.08 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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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 |
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 |
|
45 |
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 |
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