MIRA
INFORM REPORT
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Report Date : |
01.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
PRASAD KOCH TECHNIK PRIVATE LIMITED |
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Registered Office : |
Plot No. 14-16, GIDC Industrial Estate, Phase I, Vatva, Ahmedabad
382445, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
10.10.1997 |
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Com. Reg. No.: |
04-33151 |
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CIN No.: [Company
Identification No.] |
U33301GJ1997PTC033151 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMP00023C |
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PAN No.: [Permanent
Account No.] |
AAACP6751G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing Plastic Auxiliary Equipments |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 210000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having fine
track. Trade relations are fair. Subject is a debt free Company. Payments are correct and as per
commitments. The company is doing
well. It can be considered good for any normal business dealings at usual
trade terms and conditions. The company can be regarded as a promising business partner in a
medium to long run. |
LOCATIONS
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Registered Office : |
Plot No. 14-16, GIDC Industrial Estate, Phase I, Vatva, Ahmedabad
382445, Gujarat, India |
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Tel. No.: |
91-79-25890687 / 25830112 |
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Fax No.: |
91-79-25830129 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Prakash H. Shah |
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Designation : |
Chairman |
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Address : |
22, Sweet Home Society, Ambawadi, Ahmedabad |
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Date of Birth/Age : |
13.11.1944 |
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Date of Appointment : |
10.10.1997 |
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Name : |
Mr. Bhavin Hemendrabhai Shah |
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Designation : |
Director |
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Address : |
13, Niyojan Nagar, Ambawadi, Ahmedabad |
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Date of Birth/Age : |
09.09.1963 |
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Date of Appointment : |
10.10.1997 |
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Name : |
Mr. Werner Horst Koch |
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Designation : |
Foreign Director |
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Address : |
Haeidenstrase – 1, 75236, Kampfeibach, Germany |
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Date of Appointment : |
10.10.1997 |
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Name : |
Mr. Dhruv Prakashbhai Shah |
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Designation : |
Director |
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Date of Appointment : |
09.12.1997 |
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Name : |
Mr. Carsten Werner Koch |
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Designation : |
Foreign Director |
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Address : |
Hacheiallee 62, D-75178, Pforzheim, Germany |
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Date of Appointment : |
09.12.1997 |
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Name : |
Mr. Gerhard Joachim |
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Designation : |
Foreign Director |
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Address : |
Kellem, Germany |
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Date of Appointment : |
04.05.2000 |
KEY EXECUTIVES
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Name : |
J. M. Shah |
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Designation : |
Company Secretary |
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Address : |
18, Gyandeep Society, Paldi, Ahmedabad 380007, Gujarat, India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 31.03.2007
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Names of Shareholders |
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No. of Shares |
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Prakash H. Shah |
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25000 |
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Bhavin H. Shah |
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25000 |
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Werner Koch Machinery |
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125000 |
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Dhruv Prakash Shah |
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37500 |
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Prasad Machinery Private Limited |
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25000 |
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Surekhaben Prakash Shah |
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5000 |
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Pritiben Bhavin Shah |
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5000 |
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Premal Patva |
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2500 |
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Total |
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250000 |
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Equity Share
Breakup [As on 31.03.2007] |
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Percentage of
Holding |
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Foreign Holdings |
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50.00 |
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Bodies Corporate |
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10.00 |
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Directors or relatives of the Directors |
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40.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing Plastic Auxiliary Equipments |
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Products : |
·
Hopper Loaders & Ratio Loaders ·
Volumetric Feeders ·
·
·
Dehumidified Air Dryers ·
·
Central Conveying System ·
Extrusion Process Control System ·
Silos and Silo Feeding |
GENERAL
INFORMATION
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Bankers : |
· State Bank of
India Vatua Industrial Branch, Ahmedabad 382445, Gujarat, India · Bank of Baroda · HDFC Bank · Citibank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Dinesh R. Shah and Company Chartered Accountants |
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Address : |
51, Madhuban Bunglow, 5th Floor, Near Madalpur Underbridge,
Ellisbridge, Ahmedabad 380006, Gujarat, India |
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Group Companies: |
Plastic
Machinery Division · Prasad
Koch-Technik Private Limited · Prasad Gwk
Cooltech Private Limited · Prasad Wemo Robot
System Private Limited · Prasad Machinery
Private Limited · Crizaf, Italy · Rapid, Italy Textile
Machinery Division · Prashant Gamatex
Private Limited · Prashant Texmach
Private Limited · Prashant Anetex · Prashant West
Point Private Limited Vacuum
Pump Division · Ppi Pumps
Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.500 |
2.500 |
2.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
41.197 |
24.979 |
16.921 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
43.697 |
27.479 |
19.421 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.086 |
0.142 |
0.072 |
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TOTAL |
43.783 |
27.621 |
19.493 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.207 |
2.646 |
1.210 |
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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 |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
16.887
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15.439 |
10.683 |
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Sundry Debtors |
34.987
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22.136 |
11.360 |
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Cash & Bank Balances |
41.296
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15.904 |
14.382 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
12.316
|
6.270 |
5.383 |
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Total
Current Assets |
105.486
|
59.749 |
41.808 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
55.031
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28.498 |
20.078 |
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Provisions |
9.882
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6.282 |
3.456 |
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Total
Current Liabilities |
64.913
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34.780 |
23.534 |
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Net Current Assets |
40.573
|
24.969 |
18.274 |
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MISCELLANEOUS EXPENSES |
0.003 |
0.006 |
0.009 |
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TOTAL |
43.783 |
27.621 |
19.493 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
172.540 |
116.810 |
85.710 |
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Net Profit for the Year |
19.070 |
10.910 |
7.800 |
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Earnings in Foreign Currency : |
10.522 |
4.361 |
3.112 |
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Total Imports |
12.040 |
12.378 |
11.055 |
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 |
(%) |
11.05
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9.33 |
9.10 |
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Net Profit Margin (PBT/Sales) |
(%) |
11.05
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9.33 |
9.10 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
17.54
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17.48 |
18.13 |
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Return on Investment (ROI) (PBT/Networth) |
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0.44
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0.39 |
0.40 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.49
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1.27 |
1.78 |
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Current Ratio (Current Asset/Current Liability) |
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1.62
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1.71 |
1.78 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
Bankers Charges
Report as per Registry
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Name of the company |
PRASAD KOCH
TECHNIK PRIVATE LIMITED |
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Presented By |
MR. PRAKASH SHAH
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1) Date and description of instrument creating the change |
Dated 05.01.2000 Hypothecation of
Debts and Movable assets |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 1.000 Million |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All present and
future book debts of the company |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Margin 25% Repayment on
demand |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of
India Vatva Industrial
Estate Branch, GIDC, Vatva, Ahmedabad |
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6) Date and brief description of instrument modifying the charge |
NA |
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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. |
NA |
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 46.94 |
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UK Pound |
1 |
Rs. 85.57 |
|
Euro |
1 |
Rs. 67.29 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
7 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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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 |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
63 |
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 |
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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 |
|
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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