MIRA
INFORM REPORT
|
Report Date : |
27.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
YORK PRINT PRIVATE LIMITED |
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Registered Office : |
G S Road, Village Baridua - 793102, Meghalaya |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
10.01.2002 |
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Com. Reg. No.: |
13-6726 |
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CIN No.: [Company
Identification No.] |
U21029ML2002PTC006726 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
SHLY00013G |
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PAN No.: [Permanent
Account No.] |
AAACY1547R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of 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 150000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established company having satisfactory track
records. Directors are reported as experienced, respectable and resourceful businessmen.
Their trade relations are reported as fair. Payments are usually correct and
as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office/Factory : |
G S Road, Village Baridua - 793102, Meghalaya, India |
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Tel. No.: |
91-361-2896697 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Anil Kumar Mehra |
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Designation : |
Director |
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Address : |
B G 40, Salt lake City, West Bengal, India |
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Date of Birth/Age : |
07.12.1955 |
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Date of Appointment : |
10.01.2002 |
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Name : |
Mr. Rajiv Kataruka |
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Designation : |
Director |
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Address : |
P-201 Cit Road, Scheme Vill Kolkata – 700 001, West Bengal, India |
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Date of Birth/Age : |
31.01.1965 |
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Date of Appointment : |
10.01.2002 |
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Name : |
Mr. Manoranjan Singh |
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Designation : |
Director |
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Address : |
5-7A, Jessor Road, Kolkata – 700 001, West Bengal, India |
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Date of Birth/Age : |
01.11.1953 |
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Date of Appointment : |
15.09.2004 |
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Name : |
Mr. Vicco Syeim |
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Designation : |
Director |
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Address : |
9th Mile Baridua, G S Road, Meghalaya, India |
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Date of Appointment : |
10.01.20002 |
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Name : |
Mr. Sumeet Mehra |
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Designation : |
Director |
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Address : |
B G 40, Salt lake City, West Bengal, India |
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Date of Birth/Age : |
27.11.1971 |
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Date of Appointment : |
25.11.2002 |
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Name : |
Mr. Manoharlal Mehra |
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Designation : |
Director |
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Address : |
B G 40, Salt lake City, West Bengal, India |
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Date of Birth/Age : |
01.11.1953 |
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Date of Appointment : |
15.09.2004 |
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Name : |
Mr. Gautam Tandon |
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Designation : |
Director |
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Address : |
B G 40, Salt lake City, West Bengal, India |
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Date of Appointment : |
15.09.2004 |
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Name : |
Mr. Ashim K Mehra |
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Designation : |
Director |
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Address : |
B G 40, Salt lake City, West Bengal, India |
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Date of Appointment : |
15.09.2004 |
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Name : |
Mr. Amit Kumar Mehta |
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Designation : |
Director |
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Date of Appointment : |
15.09.2004 |
KEY EXECUTIVES
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Name : |
Mr. K Arun and Company |
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Designation : |
Company Secretary |
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Address : |
52, Western Street, 3rd Floor, Room No.304, Kolkata –
700012, India |
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Tel No.: |
91-33-22115293/ 22115350 |
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Email : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2007):-
|
Names of Shareholders |
|
No. of Shares |
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Mr. Anil Kumar Mehra |
|
197100 |
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Mr. Rajiv Kataruka |
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154600 |
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Mr. Manoranjan Singh |
|
2100 |
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Mr. Manoharlal Mehra (HUF) |
|
42500 |
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Mr. Raj Kumar Mehra (HUF) |
|
60000 |
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Mrs. Rajeshwari Tripathi |
|
5000 |
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Mr. Shankarlal Tripathi |
|
50100 |
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Mr. Manoharlal Mehra |
|
50100 |
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Mr. Amit Mehra |
|
50100 |
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Mrs. Renu Mehra |
|
50100 |
|
Lookwell Labels private Limited |
|
650000 |
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Mr. Milan Mehra |
|
500 |
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Mrs. Sunita Mehra |
|
500 |
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Mr. Atin Mehra |
|
500 |
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Mr. Manav Mehra |
|
500 |
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Others |
|
1500 |
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Total |
|
1315200 |
(As on 31.03.2007):-
|
Category |
Percentage |
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Bodies Corporate |
49.42 |
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Directors or relative of directors |
50.58 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Fabrics |
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. |
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Products : |
Cloth Processed |
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Imports : |
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Products : |
Components Machinery |
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Countries : |
Belgium |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL
INFORMATION
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Customers : |
· Wholesalers · End Users |
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No. of Employees : |
120 |
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Bankers : |
· Corporation Bank Salt Lake City Branch, Kolkata-700 064, West Bengal, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Sanjay Agarwal Chartered Accountants |
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Address : |
74, Bentick Street, Kolkata – 700 001, West Bengal, India |
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Tel No.: |
91-33-22377160/ 22373751 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1315200 |
Equity Shares |
Rs. 10/-
each |
Rs.13.152
millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
13.151 |
13.143 |
7.123 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
22.953 |
12.403 |
5.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
[3.310] |
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NETWORTH |
36.104 |
25.546 |
8.813 |
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LOAN FUNDS |
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1] Secured Loans |
69.490 |
65.394 |
70.063 |
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2] Unsecured Loans |
12.507 |
13.969 |
17.379 |
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TOTAL BORROWING |
81.997 |
79.363 |
87.442 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
118.101 |
104.909 |
96.255 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
84.039 |
72.409 |
67.505 |
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Capital work-in-progress |
0.014 |
0.952 |
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 |
25.093
|
31.159 |
14.993 |
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Sundry Debtors |
21.307
|
20.133 |
11.017 |
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Cash & Bank Balances |
10.294
|
3.563 |
5.352 |
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Other Current Assets |
9.737
|
8.347 |
10.593 |
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Loans & Advances |
2.684
|
5.874 |
9.377 |
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Total
Current Assets |
69.115
|
69.076 |
51.332 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
34.975
|
36.948 |
22.626 |
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Provisions |
0.092
|
0.602 |
0.000 |
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Total
Current Liabilities |
35.067
|
37.550 |
22.626 |
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Net Current Assets |
34.048
|
31.526 |
28.706 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.022 |
0.044 |
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TOTAL |
118.101 |
104.909 |
96.255 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2005 |
|
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Sales Turnover |
|
254.339 |
188.510 |
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Other Income |
|
0.642 |
12.621 |
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Total Income |
|
254.981 |
201.131 |
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Profit/(Loss) Before Tax |
|
10.549 |
7.403 |
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Provision for Taxation |
|
0.000 |
0.00 |
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Profit/(Loss) After Tax |
|
10.549 |
7.403 |
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Expenditures : |
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Financial Charges |
|
12.507 |
10.363 |
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Other Expenditure |
|
231.925 |
183.365 |
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Total Expenditure |
|
244.432 |
193.728 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
4.14
|
3.68 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
4.15
|
3.93 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.89
|
5.23 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.29 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.24
|
4.58 |
12.49 |
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Current Ratio (Current Asset/Current Liability) |
|
1.97
|
1.84 |
2.27 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
|
Corporation identity number or foreign company registrations number of
the company |
U21029ML2002PTC006726 |
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Name of the company |
YORK PRINT PRIVATE LIMITED |
|
Address |
G S Road, Vill Baridua, Meghalaya, India |
|
This Form is for |
Modification of Charge |
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Type of Charges |
· Book Debts · Movable property |
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Particular of the charge holder
|
Corporation Bank Salt Lake City, Kolkata – 700 064, West
Bengal, India E-mail: cb594@corpbank.co.in |
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Nature or description of the instrument creating charge |
· Common deeds of the hypothecation of movable / assets / debts · Hypothecation of goods to secure demand cash credit |
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Date of the instrument creating charge |
15.12.2006 |
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Amount Secure by the charge |
Rs. 30.000 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest : 12.25% Terms of Repayment: On Demand Margin: 25% Stock 30% Extent and Operation of the charge: Up to one year and subject to the renewal
of every year |
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Short particulars of the Property charged |
Goods to secure demand cash credit movable
assets / debts. |
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Particulars of the present modification |
Goods to secure demand cash credit movable
assets / debts. |
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Name of the
company |
YORK PRINT PRIVATE LIMITED |
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Presented By |
Mr. Anil K Mehra |
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1) Date and
description of instrument creating the change |
Term Loan
agreement dated 03.01.2006 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 5.000
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 |
Two Color
Printing Machine, Foil Stamping Machine, Window Patching Machine. |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
Charge by way of hypothecation of Plant and Machinery and other
assets. Interest payable @ 12.25% p.a. Repayable in 14 quarterly installments
of Rs. 0.360 million each (14th installments shall be for Rs.
0.320 million) |
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5) Name and
Address and description of the person entitled to the charge. |
Corporation Bank Salt lake City Branch, CF 335, Salt Lake
City, Kolkata – 700 064, West Bengal, India |
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6) Date and brief description of instrument
modifying the charge |
NA |
|
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.42.56 |
|
UK Pound |
1 |
Rs.84.32 |
|
Euro |
1 |
Rs.67.08 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
|
46 |
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 |
|