MIRA
INFORM REPORT
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Report Date : |
12.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
SPECTRALAB INSTRUMENTS PRIVATE LIMITED |
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Registered Office : |
F-1, Om Anand Society, Louis Wadilouis Wadi, Thane-400604, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
07.04.1988 |
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Com. Reg. No.: |
11-46920 |
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CIN No.: [Company
Identification No.] |
U99999MH1988PTC046920 |
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IEC No.: |
0308019865 |
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PAN No.: [Permanent
Account No.] |
AAACE9965H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacture of Analytical Instruments |
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 440 |
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Status : |
Small Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. It is not much known. No
payment are available. The company can be considered for small to mediocre
business dealings at usual trade terms and conditions. No latest financials are
available from any sources. |
INFORMATION PARTED
BY
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Name : |
Mr. Sanjay Desai |
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Designation : |
Accountant |
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Contact No.: |
91-9820523041 |
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Date : |
19.09.2008 |
LOCATIONS
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Registered Office : |
F-1, Om Anand Society, Louis Wadilouis Wadi, Thane-400604,
Maharashtra, India |
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Tel. No.: |
91-22-25822772 |
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Mobile No.: |
91-9820523041 |
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Fax No.: |
91-22-2582103 |
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E-Mail : |
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Website : |
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Area : |
2000 sq.ft (Owned) |
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Corporate Office : |
7, Raj Roshan, Pipe Line Road, Louis Wadi, Thane-400604, Maharashtra,
India |
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Tel. No.: |
91-22-25822772/ 25800191 |
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Factory : |
8, 9, 10, 4A, 5A Sachin Industrial Estate, Kolbad Road, Thane,
Maharashtra, India |
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Tel. No.: |
3000 sq.ft ( Owned) |
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Branches : |
Located At:- ·
Delhi ·
Dehradun |
DIRECTORS
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Name : |
Mr. Vishwas Dhaorao Kulkarni |
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Designation : |
Director |
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Address : |
301, Hira Mahal, Near Vandana Talkies, Thane (west), Thane-400602,
Maharashtra, India |
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Date of Birth/Age : |
05.07.1946 |
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Qualification : |
B.E |
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Date of Appointment : |
07.04.1988 |
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Name : |
Mrs. Vrinda Vishwas Kulkarni |
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Designation : |
Director |
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Address : |
301, Hira Mahal, Near Vandana Talkies, Thane (west), Thane-400602, Maharashtra,
India |
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Date of Birth/Age : |
03.11.1953 |
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Qualification : |
B.Com |
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Date of Appointment : |
07.04.1988 |
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Name : |
Mrs. Meenakshi Ashok Amritkar |
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Designation : |
Director |
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Address : |
13, Jeevantara Society, Ramwadi, Naupada, Thane-400602, Maharashtra,
India |
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Date of Birth/Age : |
10.01.1959 |
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Date of Appointment : |
07.04.1988 |
KEY EXECUTIVES
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Name : |
Mr. Sanjay Desai |
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Designation : |
Accountant |
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Mobile No.: |
91-9820523041 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Vishwas Udhaorao Kulkarni |
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200 |
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Vrinda Vishwas Kulkarni |
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400 |
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Sunanda Suresh Amrikar |
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400 |
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Total |
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1000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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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 : |
Manufacture of Analytical Instruments |
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Exports : |
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Products : |
Analytical Instruments |
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Countries : |
·
US ·
Japan ·
Nepal ·
Pakistan |
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Imports : |
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Products : |
Thermo Electrical Servos |
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Countries : |
US |
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Terms : |
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Selling : |
Advance |
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Purchasing : |
Credit ( 30 Days) |
GENERAL
INFORMATION
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No. of Employees : |
73 (Office 25, Factory 40, Branch 8) |
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Bankers : |
The Saraswat Co-Operative Bank Limited, Taj Building, Ground Floor, Amirit
Keshav Nayak Marg, Near New Excelsior Theatre, Mumbai-400001, Maharashtra,
India |
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Facilities : |
OD – Rs. 4.000 Millions |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Tushar B Karnik and Company Chartered Accountant |
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Address : |
202, Aniket Tower, Utalsar Road, Talsar Naka, Thane (West)- 400601,
Maharashtra, India |
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Associates/Subsidiaries : |
Techno Search Instrument, Thane Line of Business: IR Accessories |
CAPITAL STRUCTURE
As on 18.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000 |
Equity Shares |
Rs. 100/-
each |
Rs. 0.100
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
Note:
No latest
financials are available from any of the sources.
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.065 |
0.065 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.023 |
0.025 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.088 |
0.090 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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0.088 |
0.090 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.093 |
0.101 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.009 |
0.009 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances |
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0.069 |
0.046 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.000 |
0.000 |
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Total
Current Assets |
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0.069 |
0.046 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.083 |
0.066 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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0.083 |
0.066 |
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Net Current Assets |
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[0.014] |
[0.020] |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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0.088 |
0.090 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Profit/(Loss) Before Tax |
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[0.002] |
[0.002] |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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[0.002] |
[0.002] |
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Total Expenditure |
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0.002 |
0.002 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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[1.14] |
[1.36] |
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Return on Investment (ROI) (PBT/Networth) |
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[0.02] |
[0.02] |
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Debt Equity Ratio (Total Liability/Networth) |
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0.94 |
0.73 |
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Current Ratio (Current Asset/Current Liability) |
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0.83 |
0.69 |
LOCAL AGENCY
FURTHER INFORMATION
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Additional Requirement of
Indiamart for Trust-Seal |
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Excise Registration No.: In Process |
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VAT / TIN : 27910651627 |
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IEC Code : 0308019865 |
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PAN / TAN : AAACE9965H |
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Bank Name : Saraswat Bank |
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Bank Address : Thane, Jamblinaka |
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Bank A/c. No.: 1214 |
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Account Since : 26 Years |
Note:
Spectralab which was established in 1982 was merged with Entech Labs
Private Limited in 1988. In year 2008, name of the company change to present.
Trade References:
·
Glandmark Pharma, Andheri
·
Reliance Industries, Navi Mumbai
Fixed Assets:
·
Equipments
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Office Premises
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Electrical Fittings
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Furniture and Fittings
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Typewriting Machines
Bankers Charges
Report as per Registry
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Name of the company |
ENTECH LABS PRIVATE LIMITED |
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Presented By |
ENTECH LABS PRIVATE LIMITED |
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1) Date and description of instrument creating the change |
Agreement of Hypothecation of Movable Property dated 16.11.1988 |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 0.200 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 |
The Borrower both hereby hypothecate to and in favour of the bank all
the Machinery, Furniture, Equipments, tangible movable property (both present
and fixture) belonging to the Borrower and lying and being at the Borrower’s
place of business at 7, Raj Roshan, Pipe Line Road, Near Louis Wadi, Thane or
wherever else the same may be. |
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4) Gist of the terms and conditions and extent and operation of the
charge. |
Nature of Facility : Term Loan Period : Repayable on demand or by 15.11.1993 if the same is not demanded
earlier. Interest: 13.5% p.a. or at such other rate as may from time to time be
fixed by the bank Basis of advance : 70% against machinery and 60% against furniture and
equipments. |
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5) Name and Address and description of the person entitled to the
charge. |
The Saraswat Co-Operative Bank Limited, Taj Building, Ground Floor,
Amirit Keshav Nayak Marg, Near New Excelsior Theatre, Mumbai-400001,
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 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 |
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US Dollar |
1 |
Rs.47.59 |
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UK Pound |
1 |
Rs.74.55 |
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Euro |
1 |
Rs.60.57 |
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 |
3 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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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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26 |
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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