MIRA
INFORM REPORT
|
Report Date : |
31.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SUMEDHA SYSTEMS PRIVATE LIMITED |
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Registered Office : |
C-7, Lam Building, G I P Stor Lane Sathi Biscuit Compound, Lower Parel
(East), Mumabi-400013, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Year of Establishment : |
25.07.1995 |
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Com. Reg. No.: |
90968 |
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CIN No.: [Company
Identification No.] |
U32109MH1995PTC090968 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS21660C |
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PAN No.: [Permanent
Account No.] |
AAAC59249N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Auto Batching and Mixing Plant, Material handling
equipments, Pneumatic systems, Electronic weighing systems, loadcells etc. |
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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Maximum Credit Limit : |
USD 2000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company meeting its smaller commitments timeously.
Trade relations are fair. The company can be considered good for small to mediocre business
dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Vijay Shinde |
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Designation : |
Director |
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Contact No.: |
91-9870437477 |
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Date : |
05.05.2008 |
LOCATIONS
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Registered Office : |
C-7, Lam Building, G I P Stor Lane Sathi Biscuit Compound, Lower Parel
(East), Mumabi-400013, Maharashtra, India |
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Tel. No.: |
91-22-65921244/ 23008472 |
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Mobile No.: |
91-9870437477 |
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E-Mail : |
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Website : |
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Area : |
350 sq ft (Owned) |
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Factory : |
Andheri |
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Area : |
Rented |
DIRECTORS
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Name : |
Mr. Vijay Gangaram Shinde |
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Designation : |
Director |
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Address : |
1-11, Koli Building, Ganpatrao Kadam Marg, Lower Parel, Mumbai-
400013, Maharashtra, India |
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Date of Birth/Age : |
01.01.1975 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.07.1996 |
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Name : |
Mrs. Rekha Shinde |
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Designation : |
Director |
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Address : |
1-11, Koli Building, Ganpatrao Kadam Marg, Lower Parel, Mumbai-
400013, Maharashtra, India |
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Date of Birth/Age : |
33 Years |
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Qualification : |
H.S.C |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 27.09.2005
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Names of Shareholders |
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No. of Shares |
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Vijay G. Shinde |
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7700 |
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Rekha V. Shinde |
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2300 |
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Total |
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10000 |
Equity Share Breakup (Percentage of Total Equity)
As on 27.09.2005
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Auto Batching and Mixing Plant, Material handling
equipments, Pneumatic systems, Electronic weighing systems, loadcells etc. |
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Imports : |
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Products : |
Load cells |
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Countries : |
U.S.A and Jermany |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
L/C |
GENERAL
INFORMATION
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Customers : |
Construction Companies |
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No. of Employees : |
50 (Office 15, Factory 35) |
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Bankers : |
Apna Sahakari Bank
Limited, Apana Bhavan, Dr. S.S. Rao Road, Parel, Mumbai-400012, Maharashtra,
India |
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Facilities : |
Cash Credit Rs. 0.800 Million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Gopal Mantri Chartered Accountant |
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Address : |
Malad |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs, 0.100 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs, 0.100 Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.640 |
0.476 |
0.239 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.740 |
0.576 |
0.339 |
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LOAN FUNDS |
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1] Secured Loans |
2.351 |
1.258 |
0.176 |
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2] Unsecured Loans |
0.321 |
0.256 |
0.000 |
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TOTAL BORROWING |
2.672 |
1.514 |
0.176 |
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DEFERRED TAX LIABILITIES |
0.043 |
0.039 |
0.029 |
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TOTAL |
3.455 |
2.129 |
0.544 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.148 |
0.162 |
0.117 |
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Capital work-in-progress |
0.412 |
0.000 |
0.000 |
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INVESTMENT |
0.023 |
0.023 |
0.002 |
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DEFERREX TAX ASSETS |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1.673
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0.641 |
1.172 |
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Sundry Debtors |
2.346
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2.784 |
0.791 |
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Cash & Bank Balances |
0.682
|
0.741 |
0.565 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
2.366
|
0.183 |
0.327 |
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Total
Current Assets |
7.067
|
4.349 |
2.855 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.000
|
0.000 |
0.000 |
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Provisions |
4.195
|
2.405 |
2.430 |
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Total
Current Liabilities |
4.195
|
2.405 |
2.430 |
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Net Current Assets |
2.872
|
1.944 |
0.425 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
3.455 |
2.129 |
0.544 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
14.156 |
15.592 |
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Other Income |
0.029 |
0.019 |
7.482 |
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Total Income |
14.185 |
15.611 |
7.482 |
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Profit/(Loss) Before Tax |
0.394 |
0.447 |
0.177 |
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Provision for Taxation |
0.228 |
0.210 |
0.075 |
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Profit/(Loss) After Tax |
0.166 |
0.237 |
0.102 |
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Expenditures : |
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Cost of Goods Sold |
9.970 |
12.661 |
0.000 |
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Administrative Expenses |
3.799 |
2.481 |
0.000 |
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Depreciation & Amortization |
0.022 |
0.022 |
0.033 |
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Other Expenditure |
0.000 |
0.000 |
7.272 |
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Total Expenditure |
13.791 |
15.164 |
7.305 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
1.17
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1.52 |
1.36 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.78
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2.87 |
2.37 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.46
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9.91 |
5.96 |
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Return on Investment (ROI) (PBT/Networth) |
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0.53
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0.78 |
0.52 |
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Debt Equity Ratio (Total Liability/Networth) |
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9.28
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6.80 |
7.69 |
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Current Ratio (Current Asset/Current Liability) |
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1.68
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1.80 |
1.17 |
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance
Chart
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Parameters |
Details |
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Statutory Approvals |
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Legal Status of Firm |
Private Limited Liability Company |
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Income Tax Registration |
AAAC59249N |
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Central Sales Tax Registration |
27290130205C |
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VAT/ TIN Registration |
27290130205V |
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Import Export Code |
E2203288 |
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Name of Bank |
Apana Sahakari Bank |
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Current Account Number |
CC229 |
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Account Since |
1995 onwards |
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Emp PF Reg Number |
NO |
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Company ESI Reg. Number |
NO |
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Credibility Factors |
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IndiaMART Client Since |
2 Years |
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Trade Affiliations |
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SSI Registration |
NO |
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Export Promotion Council |
YES |
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Chambers of Commerce Membership |
YES |
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Standards & Certifications |
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Quality Management Systems |
YES |
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Environment Management Systems |
NO |
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Safety Certificates |
NO |
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Product Certificates |
NO |
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Other Certificates |
NO |
Trade Referemces:
- Larson and Turbo Limited, Andheri (East) Land Mark Building
- Be-Bill Moria and Company Limited, Varali
- Pragmetic Infrastructure Limited, Kandivali
Bankers Charges
Report as per Registry
|
Name of the company |
SUMEDHA SYSTEMS
PRIVATE LIMITED |
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Presented By |
SUMEDHA SYSTEMS
PRIVATE LIMITED AND APNA SAHAKARI BANK BHAVAN, Dr. S.S. Rao Road, Parel,
Mumbai-400012 |
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1) Date and description of instrument creating the change |
Agreement of Hypothecation
of movable property dated 20.01.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.100 Million |
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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 |
All the stocks,
sundry debtors, tabgeble movable property etc. and more particularly as shown
in the above referred Agreement dated 20.01.2005 |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest
$15%p.a. Other Terms and
Conditions as per the above referred Agreement dated 20.01.2005 |
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5) Name and Address and description of the person entitled to the charge. |
Apna Sahakari Bank
Limited, Apana Bhavan, Dr. S.S. Rao Road, Parel, Mumbai-400012, Maharashtra,
India |
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6) Date and brief description of instrument modifying the charge |
N.A. |
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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. |
N.A. |
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 |
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UK Pound |
1 |
Rs.84.16 |
|
Euro |
1 |
Rs.65.99 |
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 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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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 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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 |
|
35 |
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 |
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