MIRA
INFORM REPORT
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Report Date : |
13.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
LEDGEWOOD INTERNATIONAL PRIVATE LIMITED |
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Registered Office : |
1/1 Ramachandra Iyer Street, T Nagar, Chennai – 600 017, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
31.03.1999 |
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Com. Reg. No.: |
18-42187 |
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CIN No.: [Company
Identification No.] |
U51909TN1999PTC042187 |
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IEC No.: |
0499002466 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEL03570A |
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PAN No.: [Permanent
Account No.] |
AAACL7751Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importer and Exporter of Medical Disposable products, Garments
(Textiles) |
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 : |
- |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company having moderate track. Financial
position is weak having accumulated losses. Payments are reported as slow at
times. The company can be considered for small to mediocre business dealings
with slight caution initially. |
LOCATIONS
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Registered Office : |
1/1 Ramachandra Iyer Street, T Nagar, Chennai – 600 017, Tamilnadu,
India |
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Tel. No.: |
91-44-28140030 |
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E-Mail : |
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Head Office : |
5/22, 1st Street, Bangaru Colony, West K K Nagar, Chennai –
600 078, Tamilnadu, India |
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Tel. No.: |
91-44-23644201 / 23644202 |
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Fax No.: |
91-44-23644203 |
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E-Mail : |
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Area : |
1500 Sq. ft. |
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Location : |
Rented |
DIRECTORS
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Name : |
Ms. Danalakshmi Shanmugasundaram |
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Designation : |
Director |
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Address : |
302, Gandhipuram Street No. 5, Coimbatore – 641 012, Tamilnadu, India |
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Date of Birth/Age : |
07.09.1954 |
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Date of Appointment : |
27.03.2008 |
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Name : |
Mr. James Peterson |
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Designation : |
Director |
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Address : |
11, Quarry Dock Road, Sauders Poin, Niantic, CT 06357, USA – 111111 |
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Name : |
Mr. Vijay Shaker |
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Designation : |
Director |
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Address : |
Suit 306, Fairway Plaza, 2600, Phil Mont Avenue, PA 19006, USA -
111111 |
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Name : |
Mr. S Prabhu |
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Designation : |
Managing Director |
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Address : |
302, Vth Street Extension, Gandhipuram, 100 FT Road, Coimbatore – 641
012, Tamilnadu, India |
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Date of Birth/Age : |
31 Years |
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Qualification : |
Chartered Accountants |
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Experience : |
10 Years |
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Name : |
Mr. Tito Xavier |
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Designation : |
Director |
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Address : |
7/265-D, Anna Nagar, Podanur, Coimbatore – 641 023, Tamilnadu, India |
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Name : |
Mr. S Jayaregha Shanmugasundaram |
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Designation : |
Director |
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Address : |
302, Vth Street Extension, Gandhipuram, 100 FT Road, Coimbatore – 641
012, Tamilnadu, India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Importer and Exporter of Medical Disposable products, Garments
(Textiles) |
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Products : |
·
Face Mask (3 Ply Non-Woven With Round Elastic Ear Loop) ·
Face Mask (3 Ply Non-Woven with Ties And Full Weld) ·
Surgical Face Mask (3 Ply Non-Woven with Ties And Full Weld) ·
Face Mask (2 Ply Non-woven with Ties And Full Weld) ·
Surgeon's Cap (Non-Woven) ·
Surgeon's Cap (Non-Woven Sewn with Elastic) ·
Sister's Mob Cap (Non-Woven Double Elastic 19") ·
Sister's Mob Cap (With Single Elastic 21") ·
Surgical Gown (With Elastic Cuffs and Wipes) ·
PE Coated Surgical Gown with Elastic Cuffs ·
Coverall (With Hood, Elastic Cuffs and No Shoes) ·
Coverall (With Hood, Elastic Cuff And Ankles And No Shoes) |
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Exports : |
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Countries : |
·
USA ·
Europe ·
Far East |
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Imports : |
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Countries : |
·
USA ·
Europe |
GENERAL
INFORMATION
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No. of Employees : |
10 |
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Bankers : |
Corporation Bank 41, Venkatanarayana Road, Chennai – 600 017, Tamilnadu, India |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
P Ravisankar Chartered Accountants |
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Address : |
20/15 Parthasarathypuram Extension, T Nagar, Chennai – 600 017,
Tamilnadu, India |
CAPITAL STRUCTURE
(As on 30.09.2007)
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(0.479) |
(0.527) |
(0.619) |
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NETWORTH |
(0.379) |
(0.427) |
(0.519) |
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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 |
0.503 |
0.515 |
0.570 |
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TOTAL BORROWING |
0.503 |
0.515 |
0.570 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.124 |
0.088 |
0.051 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.068 |
0.055 |
0.055 |
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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 |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
0.000
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0.000 |
0.000 |
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Cash & Bank Balances |
0.075
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0.031 |
0.018 |
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Other Current Assets |
0.046
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0.059 |
0.047 |
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Loans & Advances |
0.000
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0.000 |
0.000 |
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Total
Current Assets |
0.121
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0.090 |
0.065 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.000
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0.000 |
0.000 |
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Provisions |
0.065
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0.057 |
0.069 |
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Total
Current Liabilities |
0.065
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0.057 |
0.069 |
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Net Current Assets |
0.056
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0.033 |
(0.004) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.124 |
0.088 |
0.051 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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(1.50)
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(1.34) |
(1.23) |
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Current Ratio (Current Asset/Current Liability) |
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1.86
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1.58 |
0.94 |
LOCAL AGENCY
FURTHER INFORMATION
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Additional Requirement of
Indiamart for Trust-Seal |
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Service Tax No. : -- |
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Excise Registration No.: -- |
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Central Sales Tax Excise Registration No.: 867744 |
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VAT / TIN : 33921522922 |
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IEC Code : 0499002466 |
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PAN / TAN : AAACL7751Q |
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Bank Name : Corporation Bank |
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Bank Address : - - |
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Bank A/c. No.: C/A 749-1999
C/A 386-2007 |
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Account Since : -- |
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In case of any affiliations / memberships / certifications : |
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Name : -- |
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Type : -- |
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Expiry Date : -- |
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Web Details
Established in the year 1962,
they subject have proved ourselves
as the most trusted name in the health care industry time and again. Based in
USA with more than 45 years of valuable experience behind us, we have grown
from success to success considering that now the annual turnover is US$ 10-25
Million (or Rs. 40-100 crore).
In manufacturing, exporting and importing of disposable medical products, they
have contributed to the health care industry in a big way. Subject understand the various
concerns connected with hygiene and safety in the health care sector and hence
have come with a comprehensive range of disposable medical products like
disposable face mask, lab coats, non woven face masks, non woven surgeon cap,
face masks, surgical gown, sister's mob cap, PE coated surgical gown, coverall
etc.
Under the enlightening guidance of Mr.
James Peterson, they continuously endeavor to bring effective and
comfortable products to our clients. Since quality is the sole criteria for
them they ascertain that quality is not sacrificed for the sake of quantity.
They ensure that all the disposable medical products manufactured by them are
duly tested on various quality parameters so that they are at par with
international quality standards. The team of quality experts also ensure that
the machines and apparatus used are of latest technology and always kept in
best working order.
They have also dedicated and talented team of sales and marketing
representatives who assist us in expanding our business. Moreover, all the
employees are imparted regular training to keep them abreast with latest
developments in the health care industry.
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.48.72 |
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UK Pound |
1 |
Rs.82.17 |
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Euro |
1 |
Rs.65.90 |
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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