MIRA
INFORM REPORT
|
Report Date : |
31.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
RAJA FAT AND FEEDS PRIVATE LIMITED |
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Registered Office : |
Lakkar Mandi Road, Rajapura, Patiala – 140 401, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
22.02.1995 |
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Com. Reg. No.: |
015878 |
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CIN No.: [Company
Identification No.] |
U15331PB1995PTC015878 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PTLR10273E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Exporters of Poultry Feed,
Broiler Feed, Layer Feed. |
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 22208 |
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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 meetings its normal
commitments timeously. Trade relations are fair. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Mohit Raja |
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Designation : |
Director |
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Contact No.: |
91-9814245237 |
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Date : |
31.05.2008 |
LOCATIONS
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Registered Office : |
Lakkar Mandi Road, Rajapura, Patiala – 140 401, Punjab, India |
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Tel. No.: |
91-1762-240385 / 504585 |
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E-Mail : |
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Location : |
Owned |
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Factory : |
Vilaage Gazipur, Patiala Road, Rajapura, Patiala – 140 401, Punjab,
India |
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Tel. No.: |
91-1762-226737 |
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Fax No.: |
91-1762-240337 |
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E-Mail : |
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Area : |
1 lac Sq. ft. |
DIRECTORS
|
Name : |
Mr. Rajinder Kumar |
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Designation : |
Director |
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Address : |
14 C I T I, New Dashmesh Colony, Rajapura, Patiala – 140 401, Punjab,
India |
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Date of Appointment : |
20.02.1995 |
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Name : |
Mr. Devki Nandan |
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Designation : |
Director |
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Address : |
13 C, New Dashmesh Colony, Opp. I T I, Rajapura, Patiala – 140 401,
Punjab, India. |
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Date of Appointment : |
20.02.1995 |
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Name : |
Mr. Bhim Sain |
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Designation : |
Director |
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Address : |
142, Dashmesh Colony, Rajapura, Patiala – 140 401, Punjab, India. |
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Date of Appointment : |
20.02.1995 |
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Name : |
Mr. Mohit Raja |
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Designation : |
Whloe Time Director |
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Address : |
14 – C, New Dashmesh Colony, Rajapura Town, Patiala – 140 401, Punjab, India |
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Date of Appointment : |
01.04.2004 |
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Name : |
Mr. S. S. Singla |
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Designation : |
Director |
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Date of Appointment : |
22.02.1995 |
KEY EXECUTIVES
|
Name : |
M/s Virinder Farwaha and Associates |
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Designation : |
Company Secretary |
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Address : |
267, Park Street, Anand Nagar A, Patiala- 147 004, Punjab, India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
|
Names of Shareholders |
No. of Shares |
|
Devki Nandan |
3360 |
|
Bhim Sain |
4610 |
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Rajinder Kumar |
1010 |
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Sharda Rani |
1000 |
|
Manju Rani |
750 |
|
Rita Rani |
750 |
|
Bhagwan Chhabra |
600 |
|
Ram Chand Chhabra |
600 |
|
Santosh Chhabra |
500 |
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Manoj Ahuja |
600 |
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Deepa Rani |
500 |
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Shakila Devi |
500 |
|
Narinder Kumar |
500 |
|
Mohinder Singh |
200 |
|
Raj Kumar |
200 |
|
Balwant Singh |
300 |
|
Charanjit Singh |
400 |
|
Surinder Singh |
300 |
|
Mohan Singh |
200 |
|
Shiv Kumar |
320 |
|
Sanjay Sethi |
450 |
|
Garima Mehta |
400 |
|
Neeru Mrhta |
400 |
|
Ahwani Kumar |
300 |
|
Sham Lal |
350 |
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Ramji Lal |
300 |
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Balbir Singh |
200 |
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Parveen Kumar |
300 |
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Sanjay Kumar |
200 |
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Mohinder Luthra |
250 |
|
Harish Kumar |
250 |
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Sham Sunder Singla |
4100 |
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Chander Bhan |
200 |
|
Navin Kumar |
250 |
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Gian Singh |
200 |
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Sudesh Kad |
250 |
|
Yogesh Kad |
300 |
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Vedwanti |
750 |
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Hari Chand |
1150 |
|
Mohan Singh |
200 |
|
Sandeep Kumar |
250 |
|
Sunil Kumar |
200 |
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Prem Kumar |
250 |
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Devki Nandan HUF |
50 |
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Sushil Kumar |
50 |
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Anu Gudwani |
50 |
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Kishan Devi |
50 |
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Pushp Lata Mehta |
50 |
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Shubha Khurana |
50 |
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Harvinder Kataria |
4500 |
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Total |
33500 |
Equity share breakup (percentage of total equity)
|
As on 30.09.2007 |
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Directors or relatives of directors |
53.07 |
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Other top fifty (50) shareholders |
46.93 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Poultry Feed,
Broiler Feed, Layer Feed. |
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Products : |
·
Poultry Feed ·
Broiler Feed ·
Layer Deed ·
Broiler Crumbs ·
Layer Crumbs ·
Pallets ·
Bazra ·
Maize ·
Ground Nut ·
De-oiled Rice Bran ·
De-oiled Masturd Cake ·
De-oiled Sunflower Cake ·
De-oiled Soya Flakes ·
Groundnut Extraction Cake |
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Exports : |
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Countries : |
·
Oman ·
Iraq |
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Terms : |
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Selling : |
Cash, Credit (30 days / 60 days) |
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Purchasing : |
Cash, Credit (30 days / 60 days) |
GENERAL
INFORMATION
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Customers : |
Dealers |
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No. of Employees : |
50 |
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Bankers : |
·
Punjab National Bank Court Road, Rajpura – 140 401, Punjab,
India ·
HDFC Bank ·
ICICI Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Mr. R. K. Pahwa and Company Chartered Accountants 71, Dalima Vihar, Rajpura – 140 401, Punjab, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 100/- each |
Rs. 5.000 millions |
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|
Total |
|
Rs. 5.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
41400 |
Equity Shares |
Rs. 100/-
each |
Rs. 4.140
millions |
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|
Total |
|
Rs. 4.140 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
4.140 |
4.100 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
1.412 |
1.066 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
5.552 |
5.166 |
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LOAN FUNDS |
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1] Secured Loans |
|
8.760 |
3.418 |
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2] Unsecured Loans |
|
4.663 |
6.245 |
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TOTAL BORROWING |
|
13.423 |
9.663 |
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DEFERRED TAX LIABILITIES |
|
0.231 |
0.246 |
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TOTAL |
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19.206 |
15.075 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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5.080 |
5.324 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
8.349 |
8.129 |
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Sundry Debtors |
|
44.274 |
45.534 |
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Cash & Bank Balances |
|
1.053 |
1.645 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
2.051 |
1.445 |
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Total
Current Assets |
|
55.727
|
56.753 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities and Provisions |
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41.633 |
47.044 |
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Total
Current Liabilities |
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41.633
|
47.044 |
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Net Current Assets |
|
14.094
|
9.709 |
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MISCELLANEOUS EXPENSES |
|
0.032 |
0.042 |
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TOTAL |
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19.206 |
15.075 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
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Sales Turnover |
|
238.320 |
228.883 |
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Other Income |
|
0.872 |
0.860 |
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Total Income |
|
239.192 |
229.743 |
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Profit/(Loss) Before Tax |
|
0.719 |
0.571 |
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Provision for Taxation |
|
0.363 |
0.192 |
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Profit/(Loss) After Tax |
|
0.356 |
0.379 |
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Expenditures : |
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Financial Charges |
|
0.563 |
0.534 |
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Increase/(Decrease) in Finished Goods |
|
(0.036) |
(0.433) |
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Depreciation & Amortization |
|
1.001 |
0.831 |
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Other Expenditure |
|
236.945 |
228.240 |
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Total Expenditure |
|
238.473 |
229.172 |
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KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
|
0.15
|
0.16 |
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Net Profit Margin (PBT/Sales) |
(%) |
|
0.30
|
0.25 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
1.18
|
0.92 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.13
|
0.11 |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
9.92
|
10.98 |
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Current Ratio (Current Asset/Current Liability) |
|
|
1.34
|
1.21 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References :
·
Gaurav Feed Mill – Barnala, Punjab
·
Gill Poulty Products - Barnala, Punjab
·
Gupta feed Mill – Dhuri, Punjab
Form No. 8
|
Name of the company |
RAJA FAT AND FEEDS PRIVATE LIMITED |
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Presented By |
Bhim Sain : Director |
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1) Date and description of instrument creating the change |
Hypothecation of
Goods to secure a demand cash credit dated 17.02.1999. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.000
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 |
Hypothecation of fats
and feeds of all kinds, semi finished and finished goods. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
·
Rate of
Interest 16.50% plus interest tax to be charged quarterly. ·
Margin 25% ·
Amount
repayable on demand ·
Extent and
operation of charge 100% |
|
5) Name and Address and description of the person entitled to the charge. |
Punjab National
Bank Rajpura |
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6) Date and brief description of instrument modifying the charge |
Hypothecation of Movable
Assets forming part of Fixed Asset / Block Assets dated 09.06.2003 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
1.
Limit
enhanced to Rs. 6.500 millions 2.
Rate of
Interest 12.25% p.a. to be charged on monthly basis 3.
Other terms
and conditions remain the same. |
|
Corporate
identity number (CIN) Foreign company registration number |
U15331PB1995PTC015878 |
|
Name of the
Company |
RAJA FAT AND FEEDS PRIVATE LIMITED |
|
Address |
Lakkar Mandi Road, Rajapura, Patiala – 140 401, Punjab, India |
|
This form is for |
Creation of
charge |
|
Type of Charge |
Immovable
property |
|
Particulars of
the charge holder |
Punjab National
Bank Court Road,
Rajpura – 140 401, Punjab, India |
|
Nature or
description of the instrument(s) creating or modifying the charge |
Hypothecation of
movable assets forming part of Fixed / Block Assets |
|
Date of the instrument
creating or modifying the charge |
24.05.2007 |
|
Amount secured by
the charge |
Rs. 3.000
millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest NIL Terms of
repayment On Demand Margin 25% Extent and
operation of the charge 100% Others Bank Guarantee
secured by first charge on fixed assets of the company |
|
Short particulars
of the property charged (including location of the property) |
Hypothecation of
plant and machinery, fixtures, furniture installed to be installed at vill.
Gajipur. |
|
Particular of the
present modification |
- |
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 :
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.42.59 |
|
UK Pound |
1 |
Rs.84.16 |
|
Euro |
1 |
Rs.65.99 |
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 |
YES |
|
--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, we have no basis upon which to
recommend credit dealings |
No Rating |
|