MIRA
INFORM REPORT
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Report Date : |
24.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
ANKIT EQUIPMENTS PRIVATE LIMITED |
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Registered Office : |
168/2, Kudlu, Off. Hosur Road, Bangalore – 560056, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
26.08.1996 |
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Com. Reg. No.: |
021041 |
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CIN No.: [Company
Identification No.] |
U29150KA1996PTC021041 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRA06244A |
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PAN No.: [Permanent
Account No.] |
AACCA6453G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, exporter and importer of all kinds of electrical,
electronics, automobile industries and components of material handling
industry. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a 12 years old company but has not filed its first
financials with the Government departments till date. Management parted
general information but declined to part with financials. Trade relations are
fair. Payments are reported as slow but correct. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Shashidharan |
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Designation : |
Managing Director |
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Contact No.: |
91-9880050016 |
LOCATIONS
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Registered Office : |
168/2, Kudlu, off Hosur road, Bangalore – 560056, Karnataka, India |
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Tel. No.: |
91-80-26685846 |
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Fax No.: |
91-80-26685846 |
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E-Mail : |
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Website : |
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Area : |
Approx 1.25 acres |
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Location : |
Rented |
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Branch Office : |
#19, 42nd main, 4th cross, BTM II stage,
Bangalore – 560099, Karnataka, India. |
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Area : |
Approx 3500 Sq.ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. C G Sasidharan |
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Designation : |
Managing Director |
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Address : |
No. 18, and 19, Sri Lakshmi, 42nd main, 4th
cross, BTM layout, Bangalore – 560068, Karnataka, India. |
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Date of Birth/Age : |
06.10.1950 |
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Qualification : |
Degree in electrical engineering from regional engineering college, Calicut
University, Kerala in 1973 |
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Experience : |
34 Years in material handling equipment production |
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Date of Appointment : |
26.08.1996 |
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Name : |
Mr. K Birla Shekaran |
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Designation : |
Director |
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Address : |
2/730, NGO colony, second main, Hosur – 635 109 |
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Date of Birth/Age : |
09.05.1961 |
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Qualification : |
Degree in mechanical engineering from
Madurai Kamraj University, Tamilnadu in 1986 |
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Experience : |
24 Years in material handling equipment production. |
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Date of Appointment : |
26.08.1996 |
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Name : |
Mr. V. Gopinathan |
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Designation : |
Director |
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Address : |
No. 3, Site No. 14, Jayamma Nivas, Honga Sandra main, G B Palya, Bangalore
– 560068, Karnataka, India. |
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Date of Birth/Age : |
26.06.1957 |
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Qualification : |
Bachelor Degree in science from Kerala University |
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Experience : |
25 Years in material handling equipment / materials and planning |
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Date of Appointment : |
26.08.1996 |
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Name : |
Mr. M. Hariraju |
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Designation : |
Director |
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Address : |
No.9, 9th cross, 16th main, BTM layout, 1st
stage, Bangalore – 560068, Karnataka, India. |
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Date of Appointment : |
09.01.1998 |
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Name : |
Mr. S. Shreedharan |
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Designation : |
Director |
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Address : |
217, 5th cross, 15th main, 4th block,
Kora Mangala, Bangalore – 560034, Karnataka, India |
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Date of Appointment : |
26.08.1996 |
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Date of Ceasing : |
09.01.1998 |
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Name : |
Mr. Jose Thomas |
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Designation : |
Director |
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Address : |
No. 100, Railway Parallel Road, Kumara Park West, Bangalore – 560020,
Karnataka, India. |
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Date of Appointment : |
26.08.1996 |
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Date of Ceasing : |
09.01.1998 |
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Name : |
Mr. M. Purushottaman |
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Designation : |
Director |
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Address : |
Opp. To No. 27, AESC layout, second stage, RMV, Bangalore – 560094,
Karnataka, India. |
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Date of Appointment : |
09.01.1998 |
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Date of Ceasing : |
06.03.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
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Names of Shareholders |
No. of Shares |
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Mr. C G Sasidharan |
1000 |
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Mr. K Birla Shekaran |
1000 |
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Mr. V. Gopinathan |
1000 |
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Mr. Kalai Selvi |
1000 |
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Mrs. Kanchana Gopinathan |
1000 |
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Mrs. Vasanthi Sasidharan |
1000 |
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Mrs. Sreeja Madhu Mohan |
1000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, exporter and importer of all kinds of electrical,
electronics, automobile industries and components of material handling industry. |
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Products : |
Material handling equipments like : v Cranes v Hoists electric
wire rope hoist v Goods lift and
electric winches v Jib cranes v EOT cranes v Electrically
operated gantry and semi gantry crane v Still mill duty
EOT cranes v Mild steel v Alloy steel v Electrical
motors and control gears |
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Exports : |
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Products : |
All Products |
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Countries : |
v Srilanka v Dubai v Nigeria |
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Terms : |
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Selling : |
L/C, cash / credit (30 Days) |
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Purchasing : |
cash / credit (30 – 60 Days) |
GENERAL
INFORMATION
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Customers : |
OEM’s |
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No. of Employees : |
Around 40 |
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Bankers : |
Bank of India, SSI Branch, Madiwala Citi Bank, MG Road Branch |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Jayatheertha and company, Chartered Accountants |
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Address : |
Bangalore |
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Sister Concerns : |
E- max Inc. |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
500 |
Equity Shares |
Rs. 1000/- Each |
Rs. 0.500 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
104 |
Equity Shares |
Rs. 1000/- Each |
Rs. 0.104
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
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Sales Turnover |
78.000 |
45.000 |
LOCAL AGENCY
FURTHER INFORMATION
Table
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Parameters |
Details |
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Statutory
Approvals |
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Income Tax
Registration (PAN) |
AACCA6453G |
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Central Sales
Tax Registration |
10173602 |
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State Sales Tax
Registration |
29430097697 |
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Service Tax
Registration |
CG / BG – 1 /
510 / ANKIT 2003 |
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TIN Registration |
29430097697 |
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Excise
Registration |
AACCA6453GXM002 |
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Name of Bank |
Bank of India
and Citi Bank |
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Current Account
Number |
153 and 57839805 |
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Account Since |
11 Years and 6 -
7 Years |
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Emp OF Reg
Number |
KN / BN / 34615 |
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Company ESI Reg.
Number |
531874090 |
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Credibility
Factors |
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India Mart
Client Since |
3 Years |
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Year of
Establishment |
1996 |
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Turn Over Year |
2008 |
2007 |
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Turn Over |
Rs. 78.000
millions |
Rs. 45.000 millions |
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Trade
Affiliations |
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SSI Registration |
(Yes) – 0801C –
02650 |
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Export Promotion
Council |
No |
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Chambers of
Commerce Membership |
No |
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Government
Recognised Export House Status |
No |
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Standards and
Certifications |
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Quality
Management Systems |
ISO 9000 (But
not yet Registered) |
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Trade References
v BEML
v BHEL
v Graffite India
v Surana Industries
Profile
They are a leading manufacturer, supplier and exporter of Electric Wire Rope Hoist, Goods Lift & Electric Winches, Jib Crane, EOT Cranes, Electrically Operated Gantry & Semi Gantry Crane, Steel Mill Duty EOT Cranes, Crane Hoist, Crane Cabin, etc.
Established in the year 1996, Ankit Equipments (P) Limited has served it's
customers with utmost dedication and devotion. They have a sound infrastructure
that consists of state of the art machinery and excellent facilities for
research and development.
The technical superiority enables a talented workforce to bring out their best.
They manufacture products that are user friendly and can become an intrinsic
part of any infrastructural, irrespective of its magnitude. The products are
extensively used in various industries across India, Sri Lanka and Nigeria.
With the quality products and extremely competitive prices, they plan to expand
and extend the horizons to other parts of the world and seep deeper into the
international markets.
Infrastructure
They have a sound
infrastructure with the most sophisticated machines used like various welding
machines such as CO2 welding machine, inert gas welding machines, gear hobbing
machines, lathes and other hi-tech machine tools.
They got a well established design department to design and modify the products
as per the client requirements.
Quality
All cranes are
manufactured and tested in various stages for Production as per well spelled
quality procedure. Butt welds are tested with D.P and Radio graphically.
Forgings, hooks and other raw materials are ultrasonically tested.
The quality of the components used and the excellent finish of the steel
structures allow us to offer a product of superior quality, which is
long-lasting and in line with the latest international regulations and
standards. They maintain strict measures and take all necessary precautions to
maintain highest standards of quality.
Clients
The
clientčle extends to all parts of the globe specially in Nigeria, Dubai and Sri
Lanka. The domestic clientčle includes some of the most respected names in the
industry.This includes BEML, BHEL, HAL and a number of major companies.
The growing
clientčle is itself evidence of the growing competence and efficiency in the
market.
v
Rashi Granite Exports (India) Private Limited, Bangalore
v
Bansal Precision Forge Limited, Bangalore
v
Sundaram Auto Components Limited, Belagondapalli
v
Saravana Alloy Steels Private limited, Bangalore
v
Harita Seating Systems Limited
v
South India Paper Mill Limited, Mysore
v
Sri Vigneshwara Steels Private Limited, Salem
v
Agni Steels Limited. Erode
v
Bee Path Castings, Palakkad
v
Dhandapani Cements Private. Limited, Trichy
v
Mannarkkad Steels Private Limited, Palakkad
v
Sri vela Smelters Private Limited., Tiruchangod
v
Surana Industries, Chennai
v
Thieh Ingots Private Limited, Palakkad
v
Krishna Steel Industries, Kanjikode, Palakkad
v
New India Electricals, Bangalore
v
Himaanshi Ispat Private Limited, Andhra Pradesh
v
N.G.A Steels Private Ltd
v
Kuttippulan Iron & Steel Company Private Limited.
Palakkad.
v
Sundaram Plastics, Hosur.
v
Indsil Energy and Electrochemicals Limited, Raipur
v
Proman Infrastriucture Services Private Limited.
v
Aradhya steel Wire Limited, Davangere
v
Harihar Power and Alloys Private Limited.
v
Harihar Forgings Private Limited, Trichy
v
Santha Alloys Industries Private Limited, Coimbatore
v
Thirumalas Smelters Private. Limited
v
Sundarma Auto Components, Tamil nadu
v
Sri Vari Alloys India Private Limited, Coimbatore
v
Shree Ganesh Steel Rolling Mills Limited, Chennai
v
Ventra Locomotives, Hyderabad
v
Graphite India Limited, Bangalore.
v
A.P Steels & Alloys, Trichy
v
Indrola Steel Rolling Mills India Limited, Coimbatore
v
Forge Pro India Limited, Bangalore
v
Hitech Mineral Industries Covai Private Limited, Salem
Equipments
v
Hoist
v
Cranes
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 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. 42.84 |
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UK Pound |
1 |
Rs. 84.78 |
|
Euro |
1 |
Rs. 67.32 |
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 |
-- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
34 |
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 |
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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 |
|
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 |
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