MIRA
INFORM REPORT
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Report Date : |
17.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
BALAJI KRUPA ENTERPRISES PRIVATE LIMITED |
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Registered Office : |
1, Tulsi Shyam Society, Near Ambica Society 8 A, National Highway,
Bavla,. Ahmedabad – 382220, Gujarat |
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Country : |
India |
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Date of Incorporation : |
28.03.2005 |
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Com. Reg. No.: |
045773 |
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CIN No.: [Company
Identification No.] |
U51100GJ2005PTC045773 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMB03374A |
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PAN No.: [Permanent
Account No.] |
AACCB5849F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Dealers of Escort Agro Machinery Group. Distributors of Escort,
Powertrac and Farmtrac. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Mr. Gopal Desai (Director) Keeps on Postponing the dates to even talk
and part details. The Company has not Complied Company Law Board requirements of filing
financials since incorporation. The Company’s Corporate Governance is poor. No Payment are available. The Company can be considered for any business dealings on safe and
secured trade terms and conditions, initially. |
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INFORMATION
DECLINED BY
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Name : |
Mr. Gopal Desai |
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Designation : |
Director |
LOCATIONS
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Registered Office : |
1, Tulsi Shyam Society, Near Ambica Society 8 A, National Highway, Bavla,.
Ahmedabad – 382220, Gujarat, India. |
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Tel. No.: |
91-79-26814391 |
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Mobile No.: |
91-9898233332 |
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E-Mail : |
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Factory : |
F-6-B, Tower Sapath 4, Opp karnavati Club, S G Highway, Ahmedabad –
380 015, Gujarat, India. |
DIRECTORS
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Name : |
Mr. Moti bhai Sardar Singh Parmar |
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Designation : |
Director |
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Address : |
1, Ambica Society 8 A, National Highway, Bavla,. Ahmedabad – 382220,
Gujarat, India. |
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Date of Appointment : |
Since Incorporation |
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Name : |
Mr. Hari bhai Desai |
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Designation : |
Director |
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Address : |
5, Satadhar Society, Ahmedabad highway, Sanand, Ahmedabad – 382220,
India. |
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Date of Appointment : |
Since Incorporation |
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Name : |
Mr. Lallu bhai Desai |
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Designation : |
Director |
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Address : |
4, Rudrabaug Society, Vejalour, Ahmedabad – 380051, India. |
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Date of Appointment : |
Since Incorporation |
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Name : |
Mr. Hirabhai Chauhan |
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Designation : |
Director |
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Address : |
16-B, Madhuvan Society, Bavla, Ahmedabad – 382220, India. |
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Date of Appointment : |
Since Incorporation |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 31.03.2006
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Names of Shareholders |
No. of Shares |
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Mr. Bhargav karamshibhai Desai |
12500 |
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Mr. Sagarbhai Desai |
77500 |
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Mr. Sagarbhai Desai HUF |
50000 |
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Mr. Gopalbhai Desai |
22000 |
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Mrs. Kantaben Desai |
50000 |
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Mr. Dipak Desai |
10000 |
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Mr. Mahesh Desai |
10000 |
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Mrs. Neetaben Desai |
10000 |
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Mrs. Bakuben Parmar |
30000 |
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Mr. Sunilbhai Desai |
10000 |
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Mr. Nareshbhai Desai |
10000 |
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Mrs. Minaxiben Parmar |
20000 |
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Mr. Saharbhai Desai |
30000 |
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Mrs. Jayaben Desai |
30000 |
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Mrs. Hemaben Desai |
20000 |
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Mr. Sardarsinh Desai |
30000 |
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Mr. Sardarsinh Parmar HUF |
25000 |
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Mrs. Menaben Desai |
88000 |
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Mrs. Mital Desai |
45000 |
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Mr. Himmat Singh Rathod |
5000 |
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Mr. Mahendra Singh Chavda |
5000 |
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Mr. Vasibhai Desai |
30000 |
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Mr. Babubhai Thakkar |
60000 |
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Mr. Rameshbhai Purohit |
5000 |
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Mr. Babubhai Desai |
20000 |
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Mr. Ishwarbhai Desai |
30000 |
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Mr. Bharatbhai Desai |
10000 |
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Mr. Gopalbhai Desai |
25000 |
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Mr. Sardar Singh Parmar |
30000 |
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Mr. Amthabhai Desai |
120000 |
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Mr. Rameshbhai Desai |
120000 |
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Mrs. Dakshaben Desai |
30000 |
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Mrs. Jethiben Desai |
50000 |
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Mr. Bharatbhai Desai |
15000 |
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Mr. Mahadevbhai Desai |
10000 |
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Mrs. Lilaben Desai |
10000 |
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Mr. Nathabhai Desai |
10000 |
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Mr. karsanbhai Desai |
60000 |
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Mr. kalpesh Desai |
45000 |
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Mrs. Urmilaben Doshi |
12500 |
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Mrs. Gargiben Doshi |
17500 |
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Mr. Akash Desai |
10000 |
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Mr. Bhargav Desai |
30000 |
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Mr. Mahesh Desai |
20000 |
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Mr. Dipak Desai |
20000 |
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Mr. Himmat Singh Rathod |
25000 |
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Mr. Mahendra Singh Chavda |
25000 |
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Mr. Dilip Singh Parmar |
20000 |
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Mr. Sunilbhai Desai |
15000 |
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Mr. Nareshbhai Desai |
15000 |
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Mr. Chetanbhai Parmar |
20000 |
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Mrs. Ashaben Desai |
20000 |
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Mrs. Virajben Desai |
20000 |
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Mr. Sagarbhai Desai |
50000 |
BUSINESS DETAILS
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Line of Business : |
Dealers of Escort Agro Machinery Group. Distributors of Escort,
Powertrac and Farmtrac. |
GENERAL
INFORMATION
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Bankers : |
Bank of India Ahmedabad Corporate Banking Branch, 2nd Floor, BOI
Building, Bhadra, Ahmedabad – 380001, Gujarat, India. |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Not Available |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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20,50,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 20.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,00,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 10.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
No financials are available Since Incorporation of the Company.
Management Promises almost everyday to up-date financials but failed to do so.
The Company’s Corporate Governance can be regarded as poor.
LOCAL AGENCY
FURTHER INFORMATION
Note:
Talked to Mr. Gopal Desai (Director) who keeps on Postponing the dates
to even talk and Part Details.
Form 8
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Name of the company |
BALAJI KRUPA ENTERPRISES PRIVATE LIMITED |
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Presented By |
Mr. Gopal Lallubhai Desai (Director) |
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1) Date and description of instrument creating the change |
Document creating charge and Hypothecation of book Debts dated 07.10.2005 upto Rs. 25.000 millions. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 25.000 millions Hypothecation of book Debts |
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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 |
Book Debts of the Company (Present and Future) |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest : (0.75% below BOIPLR i.e. 10% at present) Repayment: On Demand Drawing Power: 70%of book Debts (Not more than Cash Credit limit against Hypothecation of Book Debts Rs. 25.000 millions. |
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5) Name and Address and description of the person entitled to the charge. |
Bank of India New Cloth Market branch, O/s. Raipur Gate, Ahmedabad |
Form 8
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This form is for |
Creation of charge |
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Corporation identity number (CIN) or foreign company registrations number of the company |
U51100GJ2005PTC045773 |
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Name of the company |
BALAJI KRUPA ENTERPRISES PRIVATE LIMITED |
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Address |
1, Tulsi Shyam Society, Near Ambica Society 8 A, National Highway,
Bavla,. Ahmedabad – 382220, Gujarat, India. |
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Type of Charges |
v Book Debts v Movable Property
(not being pledge) |
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Whether consortium finance is involved |
No |
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Whether joint charge involved |
No |
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Number of charge holder(s) |
1 |
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Particular of the charge holder |
Name: Bank of India Address: Ahmedabad Corporate Banking Branch, 2nd Floor, BOI Building, Bhadra City: Ahmedabad State: Gujarat ISO country code: IN Pin code: 380001 E-mail ID: ahmedabadcbb@bankofindia.co.in |
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Nature or description of the instrument creating or modifying the charge |
Hypothecation Cum Loan Agreement (Plant and Machinery, Stocks and Book Debts) Dated 26.09.2007 expected by the company in favour of Bank of India to secure WCL of Rs. 80.000 millions. |
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Date of the instrument creating charge |
26.09.2007 |
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Whether charge created or modified outside India |
No |
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Amount Secure by the charge |
Rs. 80.000 millions |
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Brief particulars of the principal terms and conditions and extent and operation of the charge |
(a) Rate of Interest 1% Over BPLR (At Present 14.25%) Subject to change from time to time as per HO Guidelines; Monthly Rests. (b) Terms of Repayment On Demand (c) Margin On Stocks:25%, On Book Debts: 30% for Book Debts upto 90 days and 100% for Book Debts Beyond 90 days. (d) Extent and Operation of the charge First and Exclusive Hypothecation Charge Over Company’s Stocks and Book Debts to secure WC Limits of Rs. 80.000 millions together with Interest, Additional Interest, Penal interest, Charges, Costs and Commission of whatsoever nature. |
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Short particulars of the Property charged |
All Tangible Movable Properties, Assets and Stocks of whatsoever nature of the Borrower (Both Present and Future of tractors of all designs, makes and marks of Escorts Limited or other Brands or any Other manufacturer along with necessary parts, Accessories, Spare parts and Stores etc. All Present and Future Receivables and book Debts, Money Receivables, Outstandings, Claims of the Company. (More Particularly Described in the sheet attached herewith) |
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Whether any of the property or interest therein under reference is not registered in the name of the company |
No |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 42.64 |
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UK Pound |
1 |
Rs. 83.00 |
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Euro |
1 |
Rs. 66.00 |
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 |
3 |
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OPERATING SCALE |
1~10 |
-- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
-- |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
-- |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
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17 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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