MIRA
INFORM REPORT
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Report Date : |
08.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
V TECH TECHNOLOGIES PRIVATE LIMITED |
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Registered Office : |
125/ 26, Shreeji Industrial Estate, Subhash Road, Jogeshwari (East),
Mumbai – 400 060, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
14.03.2006 |
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Com. Reg. No.: |
160482 |
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CIN No.: [Company
Identification No.] |
U51900MH2006PTC160482 |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Supplying and Installation of Audio Visual Products. |
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 5000 |
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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. Trade
relations are fair. Financial position is satisfactory. Payments are usually correct
and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Vaishnav |
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Designation : |
Admin Manager |
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Date : |
07.11.2008 |
LOCATIONS
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Registered Office : |
125/ 26, Shreeji Industrial Estate, Subhash Road, Jogeshwari (East),
Mumbai – 400 060, Maharashtra, India |
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Tel. No.: |
91-22-2823 2555 / 66 / 99 |
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Mobile No.: |
91-9821025998 |
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Fax No.: |
91-22-2822 8501 |
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E-Mail : |
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Website : |
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Area : |
800 sq ft |
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Location : |
Owned |
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Regional Office : |
Delhi Office : Faiz Road, Karol Baug, New Delhi – 110 005, India Building No. 5, Flat No. 6, Pleasant Park, Off. Sholapur Road, Bhairoba
Nala, Pune – 411 013, Maharashtra, India |
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Resident engineers : |
Located at:
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DIRECTORS
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Name : |
Mr. Vishal Girish Shah |
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Designation : |
Director - Sales and
Marketing |
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Address : |
701/ A, Nirmal Sagar Building, Mandpeshwar Road, Borivali (West),
Mumbai – 400 103, Maharashtra, India |
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Date of Birth/ Age |
08.06.1975 |
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Date of Appointment : |
14.03.2006 |
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Mobile No.: |
91-98210 25998 |
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E-mail : |
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Name : |
Mr. Vipul Girish Shah |
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Designation : |
Director - Technical |
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Address : |
701/ A, Nirmal Sagar Building, Mandpeshwar Road, Borivali (West), Mumbai
– 400 103, Maharashtra, India |
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Date of Birth/ Age |
09.05.1978 |
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Date of Appointment : |
14.03.2006 |
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Mobile No.: |
91-98217 25998 |
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E-mail : |
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Name : |
Mr. Girish Shah |
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Designation : |
Director |
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Address : |
701/ A, Nirmal Sagar Building, Mandpeshwar Road, Borivali (West),
Mumbai – 400 103, Maharashtra, India |
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Date of Birth/ Age |
08.10.1946 |
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Date of Appointment : |
14.03.2006 |
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Date of Ceasing : |
17.03.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 12.09.2007
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Names of Shareholders |
No. of Shares |
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Vishal Girish Shah |
5000 |
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Vipul Girish Shah |
5000 |
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Total |
10000 |
As on 12.09.2007
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Supplying and Installation of Audio Visual Products. |
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Products : |
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Brand Names : |
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Terms : |
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Selling : |
Cash and Credit less than 30 days |
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Purchasing : |
Cash and Credit less than 30 days |
GENERAL
INFORMATION
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Customers : |
Corporate Residential
Clients:
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No. of Employees : |
25 |
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Bankers : |
Bank of Baroda, Jogeshwari (East) |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
D.C. Dholakia and Company Chartered Accountants |
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Address : |
B – 108, Maheshwar 2, Bapu Bhagwe Road, Near Dahisar Bridge, Dahisar
(West), Mumbai – 400 068, Maharashtra, India |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- Each |
Rs.0.500 million |
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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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(5000 shares are held by Vishal G Shah and
5000 shares held by Vipul G Shah)
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.854 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.954 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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0.954 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.091 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.030 |
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Sundry Debtors |
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5.487 |
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Cash & Bank Balances |
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0.338 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.521 |
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Total
Current Assets |
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6.376 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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5.194 |
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Provisions |
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0.342 |
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Total
Current Liabilities |
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5.536 |
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Net Current Assets |
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0.840 |
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MISCELLANEOUS EXPENSES |
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0.023 |
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TOTAL |
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0.954 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover |
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30.987 |
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Other Income |
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0.000 |
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Total Income |
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30.987 |
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Profit/(Loss) Before Tax |
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0.854 |
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Provision for Taxation |
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0.287 |
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Profit/(Loss) After Tax |
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0.567 |
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Total Expenditure |
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30.133 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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PAT / Total Income |
(%) |
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1.83 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.76 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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13.21 |
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Return on Investment (ROI) (PBT/Networth) |
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0.90 |
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Debt Equity Ratio (Total Liability/Networth) |
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5.80 |
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Current Ratio (Current Asset/Current Liability) |
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1.15 |
LOCAL AGENCY FURTHER
INFORMATION
TRADE REFERENCES:
- Panasonic
- Sony
- Sharp
FIXED ASSETS:
- Computers
- Laptop
- Printer
WEBSITE DETAILS:
PROFILE:
Subject is a leading residential and office
automation systems integrator and consultant in India.
Subject was created in November 2002 to respond to
burgeoning market demand for intelligent lifestyle solutions, particularly in
the corporates and residential sectors. Through strategic partnerships forged
with leading control and automation manufacturers globally, combined with the
specialised experience in systems installation and design, they are ready to
deliver the ultimate intelligent lifestyle experience to the customers.
Outfitted with experience, the professionals at subject provide cost effective
solutions with professional services tailored to the needs.
Subject aspires to become the premier intelligent
control solution provider for both residential and commercial sectors, led by
the following core values:
- Honesty and integrity
- Continuous innovation and creativity
- Customer service and excellence
PARTNERS:
- Crestron
- Pioneer
- Panasonic
- Sony
- Audio-Technica
- Polycom
- Extron Electronics
- Sharp
- Tandberg
- Optoma
- BIAMP
- NEC
- JBL
- Aethra
- VEGA
- YAMAHA
- SHURE
- Lutron
- Da-Lite
- Kramer
- Crown
SITE SHOWCASE:
Ministry of Textiles
Architect:
Hafeez Contractor
·
Auditorium (220 seater)
· Committee / Training room
Gail
Architect:
Sandeep Uppal
· Chairman's board room
Maharashtra
Chamber of Housing Industries
Architect:
Hafeez Contractor
· Board room
OTIS
Architect:
Edifice Architects Private Limited
·
Board room
· Training room
AABT
Architect:
Metaphos
· 4
Conference rooms
· 7 Training rooms / Board room
AABT
Architect:
Shankalpan Architects Private Limited
· Meeting room
GRASIM
· Conference
room
Allcargo
Architect:
Kiran Shetty Architects
·
Board room
APL Logistics
Architect:
Hafeez Contractor
·
Board room
Emgeen Corp.
Architect:
Hafeez Contractor
·
Board room
·
Conference room
JACOBS
Architect:
Ideamatrix
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Board room
Basell
Architect:
Shankalpan Architects
·
Board room
ALTANA
Architect:
Kamal S Malik
· Board room
Financial Technologies
Architect: DNA
Consulting
·
Training room
MCX
Architect:
Nitin Kilavala
·
Board room
MTNL
· 18
Training rooms
Della
Tecnica
·
Board room
ONGC
·
Conference room
TATA
Architect:
Ideamatrix
· 8
Conference rooms
HP
·
Board room
·
Chairman's room
Alok Industries Limited
Architect:
Chinai Randive Architects
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Board room
Centurion Bank
Architect: A A
Patel and associates
·
Board room
ENAM
Architect: DSP
Design
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Presentation room
Akruti
Architect:
Hafeez Contractor
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Board room / Audio-visual room
· Chairman's
room / Director's room
ALTANA
Architect:
Kamal S Malik
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Board room
GlobeOp
Architect:
Della Technica
·
Board rooms
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.47.76 |
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UK Pound |
1 |
Rs.74.87 |
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Euro |
1 |
Rs.60.81 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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