MIRA
INFORM REPORT
|
Report Date : |
06.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
VICTORIA TRAVELS PRIVATE LIMITED |
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Registered Office : |
54, Chowringhee Road, Kolkata – 700 071, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
03.12.1993 |
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Com. Reg. No.: |
060939 |
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CIN No.: [Company
Identification No.] |
U63040WB1993PTC060939 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALV00853G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Travel Service Providers and Tour Operators. |
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 15164 |
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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. 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. |
INFORMATION PARTED
BY
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Name : |
Mr. Sapan |
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Designation : |
Accounts Manager |
LOCATIONS
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Registered Office : |
54, Chowringhee Road, Kolkata – 700 071, West Bengal, India |
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Tel. No.: |
91-33-22824600 |
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Fax No.: |
91-33-22822318 |
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E-Mail : |
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Website : |
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Area : |
400 Sq.ft. |
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Location : |
Rented |
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Branch Office : |
53, Chowringhee Road, Kolkata – 700 071, West Bengal, India |
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Area : |
500 Sq.ft. |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Devesh Kumar Agarwal |
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Designation : |
Director |
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Address : |
233, Lower Circular Road, Kolkata – 700020, West Bengal, India |
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Date of Birth: |
04.08.1958 |
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Date of Appointment : |
03.12.1993 |
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Name : |
Mr. Mahesh Kumar Bothra |
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Designation : |
Director |
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Address : |
29, Palit Street, Amrit Kunj, Flat No. 2 A, Kolkata – 700 019, West
Bengal, India |
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Date of Birth: |
30.09.1956 |
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Date of Appointment : |
03.12.1993 |
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Name : |
Mrs. Poornima Agarwal |
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Designation : |
Director |
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Address : |
233, Lower Circular Road, Kolkata – 700020, West Bengal, India |
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Date of Birth : |
08.08.1962 |
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Date of Appointment : |
10.07.2000 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS on 28.09.2007
|
Names of Shareholders |
No. of Shares |
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Mr. Devesh Kumar Agarwal |
2189 |
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Mr. Mahesh Kumar Bothra |
915 |
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Mrs. Poornima Agarwal |
2100 |
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Mrs. Neha Agarwal |
75 |
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Mr. Vinay Agarwal |
70 |
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Mr. Kamal Singh Kochhar |
850 |
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Mrs. Alka Bothra |
180 |
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Mr. Ram Khiloni Agarwal |
555 |
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Mrs. Prerana Kochhar |
500 |
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Mr. Devesh Kumar Agarwal, HUF |
2500 |
|
Choudhary Management private Limited |
1000 |
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Shree Pitarjee Fincom Private Limited |
1000 |
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Ess Dee Sales and Services Private Limited |
1500 |
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Singhal Vyapar Private Limited |
1500 |
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Others |
66 |
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Total |
15000 |
Equity Share breakup (Percentage of Total Equity)
As on 31.03.2007
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Sr. No. |
Category |
Percentage |
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1. |
Bodies Corporate (not mentioned above) |
33.33 |
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2. |
Directors or relatives of directors |
57.50 |
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3. |
Other top fifty (50) shareholders (other
than listed above) |
9.17 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Travel Service Providers amd Tour Operators. |
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Terms : |
v Services Usually
Provided on Cash v For Corporates
Credit (10 – 15 days) |
GENERAL
INFORMATION
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Customers : |
v End Users v Corporates |
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No. of Employees : |
20 |
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Bankers : |
Vijaya Bank, H S Road, Kolkata – 700001, West Bengal, India |
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Facilities : |
C/C – Rs. 4.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
v B. K Khemka and Company,
Chartered Accountants 9/12, Lall Bazar Street, Mercantile Building, Block “E”, 1st
Floor, Kolkata – 700001, West Bengal, India. v K S Bothra and
Company, Chartered Accountants 9/12, Lall Bazar Street, Mercantile Building, Block “E”, 1st
Floor, Kolkata – 700001, West Bengal, India. |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15,000 |
Equity Shares |
Rs. 100/- Each |
Rs. 1.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15,000 |
Equity Shares |
Rs. 100/- Each |
Rs. 1.500 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 |
1.500 |
1.500 |
1.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.291 |
2.135 |
1.639 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3.791 |
3.635 |
3.139 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.343 |
0.000 |
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2] Unsecured Loans |
1.791 |
2.195 |
1.450 |
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TOTAL BORROWING |
1.791 |
2.538 |
1.450 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
5.582 |
6.173 |
4.589 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.889 |
0.414 |
0.387 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.877 |
0.039 |
0.839 |
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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 |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
9.388
|
6.696 |
4.426 |
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Cash & Bank Balances |
3.605
|
0.935 |
3.429 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
7.107
|
1.613 |
2.320 |
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Total
Current Assets |
20.100
|
9.244 |
10.175 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
15.758
|
3.258 |
6.774 |
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Provisions |
0.526
|
0.266 |
0.038 |
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Total
Current Liabilities |
16.284
|
3.524 |
6.812 |
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Net Current Assets |
3.817
|
5.720 |
3.363 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
5.582 |
6.173 |
4.589 |
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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 |
16.528 |
11.289 |
9.773 |
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Other Income |
0.091 |
0.488 |
0.221 |
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Total Income |
16.619 |
11.777 |
9.994 |
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Profit/(Loss) Before Tax |
0.432 |
0.727 |
0.252 |
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Provision for Taxation |
0.260 |
0.228 |
0.039 |
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Profit/(Loss) After Tax |
0.172 |
0.499 |
0.213 |
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Expenditures : |
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Financial Charges |
0.682 |
0.281 |
0.252 |
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Depreciation & Amortization |
0.225 |
0.128 |
0.121 |
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Other Expenditure |
15.280 |
10.641 |
9.369 |
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Total Expenditure |
16.187 |
11.050 |
9.742 |
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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 |
(%) |
1.03
|
4.24 |
2.13 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.61
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6.44 |
2.52 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.59
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6.17 |
2.52 |
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Return on Investment (ROI) (PBT/Networth) |
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0.11
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0.20 |
0.08 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.29
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0.97 |
2.17 |
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Current Ratio (Current Asset/Current Liability) |
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1.23
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2.62 |
1.49 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
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This form is for |
Modification of charge |
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Corporation identity number (CIN) or foreign company registrations number of the company |
U63040WB1993PTC060939 |
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Name of the company |
VICTORIA TRAVELS PRIVATE LIMITED |
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Address |
54, Chowringhee Road, Kolkata – 700 071, West Bengal, India. |
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Type of Charges |
v Hypothecation v Equitable Mortgage or mortgage of property by depositing the title deeds |
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Whether consortium finance is involved |
No |
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Number of charge holder(s) |
1 |
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Particular of the charge holder |
Name : Vijaya Bank Address : N S Road Branch, 8, Gillanders House City : Kolkata State : West Bengal Country : India Pin code : 700001 |
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Date of the instrument creating charge |
15.03.1999 |
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Amount Secure by the charge |
Rs. 2.700 millions |
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Brief particulars of the principal terms and conditions and extent and operation of the charge |
Interest on CC (Misc.) : PLR+3.25% (i.e. 14.25%) p.a. charged at monthly resting on IBG Rs. 110 + 0.83per quarter, 30% Margin as Term Deposit for IBG, 50% Margin on Book Debts for CC (Misc.) |
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Short particulars of the Property charged |
Shop No. G -11 admeasuring 167 Sq.ft. at 156A, Lenin Sararel, Kolkata – 700013 held under sub lease of Mr. Ram Khiloni Agarwal and Mr. Ashok Kr. Harlalka |
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Whether any of the property or interest therein under reference is not registered in the name of the company |
No |
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If not, in whose name is it registered |
sub lease of Mr. Ram Khiloni Agarwal and Mr. Ashok Kr. Harlalka |
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Date of latest modification prior to the present modification |
15.03.1998 |
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Brief description of the Instrument modifying the charge under section 135 |
I) Agreement to extend charge on Movable Property. II) Supplementary Agreement |
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Date of Instrument modifying the charge |
30.09.2006 |
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Particulars of the present modification |
Overall credit limit remains same at Rs. 2.700 millions, limit cc (hypothecation) of Rs. 1.500 millions charged to cc (Misc.) of Rs. 2.500 millions and Bank Guarantee of Rs. 1.200 millions redeemed to Rs. 0.200 million. |
Table
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Particulars |
Details |
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Statutory Approvals |
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Income Tax Registration (PAN) |
AAACV8815H |
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Central Sales Tax Registration |
No |
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State Sales Tax Registration |
AAACV8815H TIN |
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Service Tax Registration |
AAACV8815HST002 |
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TIN Registration |
CALV00853G |
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Excise Registration |
No |
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Import Export Code |
No |
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Name of bank |
Vijaya Bank |
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Current Account Number |
7218060140188 |
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Account Since |
Approx 7-8 Years |
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Emp Of Reg Number |
WB/PRB/42199 |
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Company ESI Reg Number |
No |
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Credibility Factors |
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India Mart Client Since |
Approx 1-2 Years |
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Years of Establishment |
1993 |
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Trade Affiliations |
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SSI Registration |
No |
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Export Promotion Council |
No |
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Chamber of Commerce Membership |
No |
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Govt. Recognised Export House Status |
No |
Trade References
v Tata Motors
v Birla Group of Companies
v CMC
As Per Website:
History
Established in 1993, Subject has grown into a multi
faceted Company. Starting its venture with air ticketing, The Company have made
its foray into Inbound, Outbound, Mice and theme tourism.
Since its inception, Team has been constantly evolving
itself, to strive for better customer services. They are proud to have the
maximum repeat business. They are grateful to the patrons who have shown
tremendous belief in them to lead them to, where they stand today.
Over the years they have developed an esteemed
client base from Thailand, Malaysia, United Kingdom, and Australia. The
Excellence lies in providing personalized service to the clients. They are
providing tailor made tour for whole of India. The Credibility lies in giving
you value for the money.
They are one of the few accredited companies
doing medical conferences in India and Abroad. They have to the credits some of
the big names of Pharmaceuticals in India who avail and endorses the services.
They have been instrumental in providing them all the services under Mice, to
further strengthen their businesses.
Director’s Profile
Mr. Devesh Kumar Agarwal, founder and Managing
Director of the Company is the foundation on which the company is standing
known for his foresight and vision. He has led the company from its inception
to its present state. Soft spoken he has deligiently worked to diversify the
company into many forays. The Company has four dedicated division.
v Inbound
v Outbound
v Ticketing
v Mice
E-mail Address: devesh@victoriatravels.net
Sunaina Chatterjee, Currently Vice President,
Mice is the face of the organization. Workaholic, she has been tirelessly
working in the organization for the past 8 years. She exhibit confidence and dedication
to the fellow staff. Post Graduate in Tourism Management. She has led the
Company to make it one of the busiest player in Mice segment in India. Through
her sheer intiative and single minded dedication.
E-mail Address: sunaina@victoriuatravels.net
Mr. Ritesh Joshi, Presently Business Manager –
Inbound heads the Inbound division of the Organization. The branch office in
New Delhi also comes under him. A post graduate in Tourism Management. He has
the experience of more than 8 years in this sector. Personally, via any means
of communication. He believes in nurturing long term relationship with the
clients and works for enhancing and retaining the client base of the
organisation. Working as a team, is what makes his organization looks upto him.
E-mail Address: ritesh@victoriatravels.net
Mr. Subrata Basu, Manager – Ticketing, heads
the ticketing division of the company. Widely experienced, he is into this
trade for the past 12 years. A post graduate, he loves to listen to old songs,
if and when, if any he gets the time out of his hectic office hours. Subrata
always believe in walking with the time. He is constantly appraising himself to
the modern tools of his business. Proficient in Galielo, Amadeus etc. He
inspires through his own hard work, fellow staff to aim higher and his never
say no attitude. Brings laurels to the organization.
E-mail Address: subrata@victoriatravels.net
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 :
The 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.
The 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
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|