MIRA
INFORM REPORT
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Report Date : |
01.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
BALAJI FREIGHT CARRIERS PRIVATE LIMITED |
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Registered Office : |
BG-354, Sanjay Gandhi Transport Nagar,
Delhi - 110042 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
23.12.1997 |
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Com. Reg. No.: |
55-91298 |
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CIN No.: [Company
Identification No.] |
U60230DL1997PTC091298 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELB07959A |
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PAN No.: [Permanent
Account No.] |
AAACB6461D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Warehousing agents in India providing
domestic warehousing services, cargo warehousing services, loading and
unloading services, door to door delivery services, household goods
transportation services and industrial goods transportation services. |
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 8000 |
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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 steady business. Trade relations
are fair. Payments are usually correct and as per commitments. Nothing adverse reported. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
BG-354, Sanjay Gandhi Transport Nagar,
Delhi – 110042, India |
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Tel. No.: |
91-11-27831993 / 27832483 / 27833252 |
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Mobile No.: |
91-9820045164/ 9810116638/ 932213277 |
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Fax No.: |
91-11-27833252 |
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E-Mail : |
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Administrative Office : |
Godown
No.72, Tobacco street, Dana Bunder, Mumbai 400 009 |
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Branches : |
Plot
No. 1536, Road No. 17, Steel Market, KWC, Kamboli, New Mumbai |
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Tel. No.: |
91-22-27423772 |
DIRECTORS
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Name : |
Mr. Ghanshyam Goel |
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Designation : |
Managing Director |
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Address : |
BG-354, Sanjay Gandhi Transport Nagar,
Delhi – 110042, India |
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Date of Appointment : |
23.12.1997 |
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Mobile No.: |
91-9810116638/ 932213277 |
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Name : |
Ms. Mamta Goel |
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Designation : |
Director |
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Address : |
45/55, Sector – II, Rohini, Delhi – 110085, India |
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Date of Appointment : |
23.12.1997 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
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No. of Shares |
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Ghanshyam Goel |
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9100 |
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Mohinder Goyal |
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600 |
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Vinod Goyal |
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850 |
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Mamta Goyal |
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1100 |
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Sakuntala Goyal |
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1250 |
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Vinod Garg |
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750 |
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Vijay Garg |
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1000 |
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Seema Goyal |
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2000 |
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Om Parkash |
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2000 |
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Kali Ram |
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4695 |
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Asha Goel |
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1250 |
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Geeta Garg |
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3750 |
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Ghanshyam Goel, HUF |
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2500 |
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Jawala Prasad |
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1250 |
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Manju Goel |
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1250 |
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Rajni Goel |
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10000 |
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Rakesh Garg |
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2625 |
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Ramesh Garg |
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1875 |
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Sarika Aggarwal |
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1250 |
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Sobha Gupta |
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1250 |
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Vijay Garg |
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2500 |
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Vinod Garg |
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3125 |
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Om Prakash |
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1875 |
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Others/ Relatives of Directors |
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1875 |
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Total |
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59720 |
Equity Share Breakup (Percentage of Total Equity)
As on 29.09.2007
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Category |
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Percentage of
Holding |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
|
Line of Business : |
Warehousing agents in India providing
domestic warehousing services, cargo warehousing services, loading and unloading
services, door to door delivery services, household goods transportation
services and industrial goods transportation services. |
GENERAL
INFORMATION
|
Customers: |
·
Shivanik Udyog Limited ·
Alankar Global Private Limited ·
Rishabh International ·
J B Exports Limited ·
Hatway Cables Private Limited |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Shyam Goel and Associates Chartered Accountants |
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Address : |
411, ITL Twin Tower, B – 9, Netaji Subhash Place, Pitampura, Delhi –
110034, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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59720 |
Equity Shares |
Rs. 10/- each |
Rs. 0.597 Million |
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 |
0.597 |
0.597 |
0.233 |
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2] Share Application Money |
1.503 |
0.000 |
1.455 |
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3] Reserves & Surplus |
1.554 |
1.510 |
0.379 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3.654 |
2.107 |
2.067 |
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LOAN FUNDS |
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1] Secured Loans |
0.047 |
0.591 |
1.096 |
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2] Unsecured Loans |
2.044 |
1.482 |
1.187 |
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TOTAL BORROWING |
2.091 |
2.073 |
2.283 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.025 |
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TOTAL |
5.745 |
4.180 |
4.375 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.659 |
0.834 |
1.218 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.040 |
0.029 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
5.234
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3.537 |
3.766 |
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Cash & Bank Balances |
1.085
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1.169 |
1.329 |
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Other Current Assets |
0.783
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0.398 |
0.595 |
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Loans & Advances |
0.000
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0.000 |
0.000 |
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Total
Current Assets |
7.102
|
5.104 |
5.690 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
2.056
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1.787 |
2.535 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
2.056
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1.787 |
2.535 |
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Net Current Assets |
5.046
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3.317 |
3.155 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.002 |
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TOTAL |
5.745 |
4.180 |
4.375 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
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21.405 |
20.319 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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21.405 |
20.319 |
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Profit/(Loss) Before Tax |
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0.104 |
0.095 |
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Provision for Taxation |
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0.060 |
0.055 |
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Profit/(Loss) After Tax |
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0.044 |
0.040 |
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Total Expenditure |
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21.301 |
20.224 |
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 |
(%) |
0.21
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0.19 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
0.49
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0.47 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.34
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1.60 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.03
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0.05 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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1.13
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1.83 |
2.33 |
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Current Ratio (Current Asset/Current Liability) |
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3.45
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2.86 |
2.24 |
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
Profile
Subject
is a transport company with facilities for warehousing and storage. They have a
large fleet of their Tempo, Canter, LPT 18 to 23 Fleet trucks that
ensure direct and timely services Delhi-Mumbai-Delhi with
a guaranteed delivery time between 45 to 60 hours. They achieve customer
satisfaction through their specialized quality services. Their company equipped
with experienced staff, computers with latest technology. They have more than
fifteen years experience in transport. They are presently working with reputed
export/import companies situated in Delhi and NCR. They will try to improve
their services time to time and provide all related information to their
clients.
Services
- All branches equipped with computer and
experienced staff.
- Local collection and direct delivery to
Delhi-Mumbai-Delhi.
- Holding of cargo in the company - owned
warehouses/godowns.
- Handling of cargo with all necessary
care.
- Delivery within the committed time
period.
- Providing all necessary information to
their clients regarding their cargo.
- Minimize handling and timely delivery.
- Skilled labour for loading and
unloading services.
- Branch offices and godowns in Delhi,
Noida, Gurgaon, Kalamboli and Dronagiri.
- All information regarding consignment
provided immediately on telephone.
Infrastructure
They have a very sound infrastructure base that has the potential to offer
world class services with all the required facilities. The working team are
trained and skilled with the know how to manage any orders maintaining the
service at its best.
Quality
Quality
is the aspect that has provided them the distinct identity in the market. They
aim to reach the greater heights of excellence by offering high class service
to the clients and win their trust by their qualitative work.
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.46.94 |
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UK Pound |
1 |
Rs.85.57 |
|
Euro |
1 |
Rs.67.79 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
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46 |
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 |
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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 |
|
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 |
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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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