MIRA
INFORM REPORT
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Report Date : |
02.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
AHLADA ENGINEERS PRIVATE LIMITED |
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Registered Office : |
SY # 66 and 68, Bahadurpally Qutbullapur Mandal, Hyderabad – 500 043,
Andhra Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
10.08.2005 |
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Com. Reg. No.: |
047102 |
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CIN No.: [Company
Identification No.] |
U24239AP2005PTC047102 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDA05783B |
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PAN No.: [Permanent
Account No.] |
AAFCA3213M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers
of Engineering Products such
as Equipment Machinery, Stainless Steel Cleanroom Furniture, Mobile Shelving
etc. |
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 66500 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having satisfactory track. Trade
relations are fair. 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/ Factory : |
SY # 66 and 68, Bahadurpally Qutbullapur Mandal, Hyderabad – 500 043,
Andhra Pradesh, India. |
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Tel. No.: |
91-40-23195923/ 23195925 |
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Fax No.: |
91-40-23195924 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Akinoboina Komaraiah |
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Designation : |
Additional Director |
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Address : |
1-15, Bhadurpally Quthbullarpur Mandal, Rnaga Reddy Dist., Andhra
Pradesh – 500 043, India. |
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Date of Birth/Age : |
10.05.1974 |
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Date of Appointment : |
28.04.2008 |
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Name : |
Mr. Chedepudi Suresh Mohan Reddy |
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Designation : |
Managing Director |
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Address : |
2-22-48/ 1/ C, Flat No.204, Dattasai Apartments, Vijaya Nagar Colony,
Kukatpally, Hyderabad – 500 072, Andhra Pradesh, India. |
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Date of Birth/Age : |
10.08.1967 |
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Date of Appointment : |
10.08.2005 |
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Name : |
Mr. K Raja Sekhar Reddy |
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Designation : |
Director |
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Address : |
Plot No.150, Janapriya West City, Miyapur, Hyderabad – 500 050, Andhra
Pradesh, India. |
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Date of Birth/Age : |
10.08.1968 |
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Date of Appointment : |
10.08.2005 |
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Name : |
Mr. N. Sukruta Kumar |
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Designation : |
Director |
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Address : |
Plot No. 76, 20-3/ 12, Swaroop Nagar, Uppal, RR Dist. Hyderabad – 500
039, Andhra Pradesh, India. |
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Date of Birth/Age : |
08.05.1948 |
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Date of Appointment : |
10.08.2005 |
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Name : |
Mrs. Chedepudi Sridevi |
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Designation : |
Director |
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Address : |
2-22-48/ 1/ C, Flat No.204, Dattasai Apartments, Vijaya Nagar Colony,
Kukatpally, Hyderabad – 500 072, Andhra Pradesh, India. |
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Date of Birth/Age : |
03.06.1974 |
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Date of Appointment : |
10.08.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 08.08.2005
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Names of Shareholders |
No. of Shares |
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Mr. Chedepudi Suresh Mohan Reddy |
5100 |
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Mr. K Raja Sekhar Reddy |
1700 |
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Mr. N. Sukruta Kumar |
1700 |
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Mrs. Chedepudi Sridevi |
1500 |
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As on 29.09.2007
Equity share breakup (percentage of total equity)
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Category |
Percentage |
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Directors or relatives of directors |
100.000 |
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Total |
100.000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers
of Engineering Products such
as Equipment Machinery, Stainless Steel Cleanroom Furniture, Mobile Shelving
etc. |
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Products : |
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GENERAL
INFORMATION
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No. of Employees : |
About 150 |
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Bankers : |
Sanjeeva Reddy Nagar Branch, Main Road, S R Nagar, Hyderabad – 500 038, Andhra Pradesh, India.
Commercial Branch, Surya Towers, S.P. Road, Secunderabad – 500 003, Andhra Pradesh, India. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M. Srinivasa Kumar and Company Chartered Accountants |
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Address : |
P No. 13 and 14B, Flat No.404, Sri Sai Sadan, Vengal Rao Nagar,
Hyderabad – 500 038, Andhra Pradesh, India. |
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Sister Concern : |
Ahlada Industries Private Limited
Address: Sy. # 67, Bahadurpally, Qutbullapur Mandal, Ranga Reddy District, Hyderabad – 500 043. Andhra Pradesh, India. Tel. No. : 91 - 40 – 23094301/ 23094302 Fax : 91 - 40 – 23094300 Email: industries@ahlada.com |
CAPITAL STRUCTURE
As on 31.03.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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3500000 |
Equity Shares |
Rs.10/- Each |
Rs.35.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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950000 |
Equity Shares |
Rs.10/- Each |
Rs.9.500 Millions |
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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 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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9.500 |
9.500 |
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2] Share Application Money |
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0.000 |
0.660 |
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3] Reserves & Surplus |
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3.796 |
0.369 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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13.296 |
10.529 |
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LOAN FUNDS |
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1] Secured Loans |
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15.388 |
1.096 |
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2] Unsecured Loans |
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3.846 |
0.000 |
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TOTAL BORROWING |
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19.234 |
1.096 |
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DEFERRED TAX LIABILITIES |
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0.594 |
0.152 |
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TOTAL |
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33.124 |
11.777 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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20.099 |
14.410 |
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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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0.000 |
0.000 |
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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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24.435 |
3.407 |
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Sundry Debtors |
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17.060 |
3.596 |
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Cash & Bank Balances |
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1.280 |
0.683 |
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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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1.921 |
0.621 |
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Total
Current Assets |
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44.696 |
8.307 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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31.309 |
10.873 |
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Provisions |
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0.493 |
0.078 |
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Total
Current Liabilities |
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31.802 |
10.951 |
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Net Current Assets |
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12.894 |
(2.644) |
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MISCELLANEOUS EXPENSES |
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0.131 |
0.011 |
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TOTAL |
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33.124 |
11.777 |
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Particulars |
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31.03.2007 |
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Sales |
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80.000 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.84 |
1.14 |
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Current Ratio (Current Asset/Current Liability) |
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1.41 |
0.76 |
LOCAL AGENCY
FURTHER INFORMATION
Note: The address of the registered office of the company has been
shifted from No.204, Dattasai Aptsvijaya Nagar Colony, Kukatpally, Hyderabad – 500
072, Andhra Pradesh to SY # 66 and 68, Bahadurpally Qutbullapur Mandal,
Hyderabad – 500 043, Andhra Pradesh w.e.f. 10.08.2007.
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This form is for |
Modification of
charge |
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Charge
identification number of the modified
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10033579 |
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Corporate identity
number of the company |
U24239AP2005PTC047102 |
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Name of the
company |
AHLADA ENGINEERS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
SY # 66 and 68, Bahadurpally Qutbullapur Mandal, Hyderabad – 500 043,
Andhra Pradesh, India. |
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Type of charge |
Immovable
Property Book Debts Movable Property Others (all the
Fixed and Current assets of the company) |
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Particular of
charge holder |
State Bank of Hyderabad Commercial Branch, Surya Towers, S.P. Road, Secunderabad – 500 003, Andhra Pradesh, India. |
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Nature of
description of the instrument creating or modifying the charge |
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Date of
instrument Creating the charge |
09.05.2008 |
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Amount secured by
the charge |
Rs.77.250
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
At PLR i.e. 13% (Floating) and minimum of 13% compounding at monthly rests
with rests clause after every two years. Terms of
Repayment: Working capital payable on demand and term loan repayable in 72
monthly installments, starting after one year moratorium i.e. repayment to
commence from April 2009. Margin: Term Loan
35% of the project cost and working capital as per earlier sanction. Extent and
Operation of the charge: Total Limits of Rs.77.250 Millions are secured by
first charge on all current assets and fixed assets of the company (including
plant and machinery) both present and future including EM of Factory L and B
measuring 3630 sq yds. in Sy. No. 66, 68 and 69 at Bahadurpally (V),
Quthbullapur (M) along proposed civil works, standing in the name of the
company. Others: The total
limits of Rs.77.250 Millions consists of CC Limit of Rs.17.000 Millions, Term
Loan – I Limit of Rs.4.250 Millions, Term Loan – II Limit of Rs.52.500
Millions and Letter of Credit Limit of Rs.1.000 Million and Bank Guarantee of
Rs.2.500 Millions. Personal gurantee of Ch. Suresh Mohan Reddy, K Rajashekara
Reddy, N Sukrutha Kumar, Ch. Sridevi, A. Golla China Komarah. Third party
guarantee of A. Golla Pedda Komaraiah and A. Golla Ashok. |
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Short particulars
of the property charged |
Hypothecation of stocks, book debts and all other current assets of
the company. First charge on all fixed assets of the company both present and
future including EM of Factory L and B (3630 sq yds.) in Sy. No. 66, 68 and 69 at Bahadurpally
(V), Quthbullapur (M), standing in the name of the company. EM of Land and
proposed civil structures in Sy. No. 66, 68 and 69, admeasuring 0.29 guntas,
standing in the name of A. Golla Pedda Komaraiah and A. Golla Ashok. |
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Particulars of
the present modification |
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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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.96 |
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UK Pound |
1 |
Rs.83.91 |
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Euro |
1 |
Rs.66.36 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
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 |
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45 |
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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