MIRA
INFORM REPORT
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Report Date : |
19.11.2008 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
E-303, Veena Nagar, Opp.State Bank of |
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Country : |
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Date of Incorporation : |
01.11.2003 |
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Financial as on: |
31.03.2007 |
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IEC No.: |
0308038606 |
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PAN No.: [Permanent
Account No.] |
ACSPM6091K |
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Legal Form : |
Sole Proprietory concern |
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Line of Business : |
Manufacturer and Exporter of White Marker /Green & Black Chalk
Writing Boards, Magnetic White Marker/Green Chalk Writing Board/P3 Ceramic
White Matte Writing & Projection/Green Chalk Writing Boards &
Accessories. |
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 : |
USD179500 |
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Status : |
Small Concern |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern in its field. Trade
relations are fair.Scale of activity
is limited. No complaints have been heared from market sources. The concern can be considered for small to mediocre business dealings. |
INFORMATION PARTED BY
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Name : |
Mr. Gunjan |
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Designation : |
Managing Director |
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Contact No.: |
91-9869078994 |
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Date : |
19.11.2008 |
LOCATIONS
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Registered Office : |
E-303, Veena Nagar, Opp.State Bank of |
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Tel. No.: |
91-22-28800517/ 28803124/ 22913952 |
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Mobile No.: |
91-9869907894 |
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Fax No.: |
91-22-28804978/ 28803124 |
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E-Mail : |
altonmarketing@vsnl.net |
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Website : |
www.altonmarketing.co.in |
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Area : |
5000 Sq.ft. |
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Location : |
Rented |
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Factory 1 : |
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Tel. No.: |
91-22-28800517/ 28803124 |
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Fax No.: |
91-22-28804978 |
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Area : |
4000 Sq.ft. |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Chandrasen R. Mangale |
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Designation : |
Proprietor |
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Address : |
E-303, Veena Nagar, |
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Date of Birth/Age : |
59 Years |
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Qualification : |
H.S.C |
KEY EXECUTIVES
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Name : |
Mr. Gunjan Mangale |
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Designation : |
Marketing Head |
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Address : |
E-303, Veena Nagar, |
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Date of Birth/Age : |
30 Years |
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Qualification : |
H.S.C/DIPL |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of White Marker /Green & Black Chalk
Writing Boards, Magnetic White Marker/Green Chalk Writing Board/P3 Ceramic
White Matte Writing & Projection/Green Chalk Writing Boards &
Accessories. |
GENERAL INFORMATION
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Customers : |
Wholesalers/ Retailers |
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No. of Employees : |
Around 27 |
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Bankers : |
ICICI Bank, Malad (West) |
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Facilities : |
Overdraft Facilities of Rs 0.200 million |
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Auditors : |
Bhushan Titankar and Company |
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Name: |
Chartered Accountant |
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Address : |
Malad |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
AS ON (31.03.2007)
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Capital Investment : |
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Owned : |
Rs.0.359 million |
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Borrowed : |
- |
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Total : |
Rs.0.359 million |
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] Propriters Capital |
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0.359 |
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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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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.359 |
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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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0.359 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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0.359 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.060 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.446 |
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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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0.536 |
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Sundry Debtors |
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1.835 |
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Cash & Bank Balances |
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(0.029) |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.057 |
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Total
Current Assets |
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0.239 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.448 |
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Provisions |
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0.098 |
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Total
Current Liabilities |
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2.547 |
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Net Current Assets |
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(0.147) |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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0.359 |
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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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9.069 |
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Other Income |
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0.000 |
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Total Income |
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9.069 |
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Net profit for the year |
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0.356 |
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Provision for taxes |
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0.000 |
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Net profit for the year |
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0.356 |
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Expenditure |
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Cost of goods sold |
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7.476 |
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Salaries & wages |
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0.029 |
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Total Compensation to employees |
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0.291 |
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Sales promotion including publicity (other than
advertisement) |
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0.080 |
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Advertisment |
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0.023 |
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Conveyance Expenses |
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0.151 |
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Telephone Expenses |
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0.058 |
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Audit Fee |
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0.020 |
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Other Expenses |
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0.128 |
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Profit before interest ,depreciation and
taxes |
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0.363 |
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Depreciation |
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0.006 |
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Freight |
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0.025 |
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Power & Fuel |
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0.063 |
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Total Expenditure |
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8.713 |
KEY RATIOS
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PARTICULARS |
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31.03.2005 |
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PAT / Total Income |
(%) |
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39.3 |
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Net Profit Margin (PBT/Sales) |
(%) |
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39.3 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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23.68 |
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Return on Investment (ROI) (PBT/Networth) |
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0.99 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.70 |
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Current Ratio (Current Asset/Current Liability) |
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0.94 |
LOCAL AGENCY FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Detail |
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Existence Verification |
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Name |
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Address |
E/303,Veena nagar, |
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2nd Address |
Khan house,chikuwadi rrrroad,opp jarimari mandir,near
aakar society,malwani church,Malad(west),Mumbai |
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Phone / |
28800517/28803124/ 9869078994 |
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Fax Number |
28804978 |
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Statutory Approvals |
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Income Tax Registration |
ACSPM6091K |
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Central Sales Tax Registration |
27060183439C |
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State Sales Tax registration |
As Above |
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VAT / TIN Registration |
27060183439V |
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Import Export Code |
IEC No 0308038606/27.08.2008 |
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Name of Bank |
ICICI Bank Ltd |
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Current account Number |
015805004134 |
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Account Since |
2005 |
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Emp PF Reg Number |
Pf/211331 |
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Company ESI Reg Number |
Applied For |
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Creditability Factors |
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2006 |
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Years of Establishment |
1st November 2003 |
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Standards and Certifications |
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Other Certificates |
IS09001-2000 |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.74 |
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1 |
Rs.74.37 |
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Euro |
1 |
Rs.62.78 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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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 |
4 |
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--LEVERAGE |
1~10 |
4 |
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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 |
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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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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