MIRA
INFORM REPORT
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Report Date : |
13.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
RATILAL BHAGWANDAS CONSTRUCTION COMPANY PRIVATE LIMITED |
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Registered Office : |
Near Phugewadi Octroi Post, Dapodi, Pune – 411 012, Maharashtra. |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
26.12.1990 |
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Com. Reg. No.: |
059577 |
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CIN No.: [Company
Identification No.] |
U70101MH1990PTC059577 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNER08226B |
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PAN No.: [Permanent
Account No.] |
AAACR8231R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Engineers and Contractors. |
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 100000 |
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Status : |
Satisfactory |
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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 satisfactory track.
Trade relations are fair. Business is active. Payments are reported as
usually made as per commitments. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr.Biju |
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Designation : |
Chief Accountant |
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Contact No.: |
91-9881152326 |
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Date : |
10.10.2008 |
LOCATIONS
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Registered Office : |
Near Phugewadi Octroi Post, Dapodi, Pune – 411 012, Maharashtra, India |
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Tel. No.: |
91-20-27147913 / 27148931 |
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Mobile No.: |
91-9881152326 (Mr.Biju) |
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Fax No.: |
91-20-27146216 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr.Mahendra K.Thakur |
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Designation : |
Director |
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Address : |
542, Karnatak House, Chira Bazar, Mumbai-400002, Maharashtra, India. |
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Name : |
Mr.Anand N.Karia |
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Designation : |
Director |
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Address : |
A1/502 Kalpataru Enclave SNO.167/168/2A, DP Road Aundh, Pune- 411007,
Maharashtra, India. |
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Date of Birth: |
20.03.1974 |
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Qualification: |
BE CIVIL |
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DIN No.: |
00343900 |
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Date of Appointment : |
23.06.1995 |
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Name : |
Mr.Nitin R.Karia |
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Designation : |
Managing Director |
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Address : |
539 Sindh co Hsg Society Limited, Aundh, Pune- 411007, Maharashtra,
India. |
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Date of Birth : |
30.11.1948 |
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Qualification: |
BSC |
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DIN No.: |
00343847 |
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Date of Appointment : |
26.12.1990 |
KEY EXECUTIVES
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Name : |
MRM Associates |
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Designation : |
Company Secretary |
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Address : |
1st Floor, Dnyansudha Apartment, 77 Vijayanagar Colony,
2147, Dadashiv Peth, Pune -411 030, Maharashtra, India. |
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Tel No.: |
91-20-24335075 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As Per Registry Records
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Names of Shareholders |
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No. of Shares |
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Mr.Nitin R.Karia |
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343980 |
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Mr.Anand N.Karia |
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297000 |
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Mr.Mahendra K. Thakur |
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10 |
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Mrs.Ami A.Karia |
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41000 |
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Mr.Nitin Ratilal Karia, HUF |
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250000 |
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Total |
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931990 |
AS ON 31.03.2007
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Engineers and Contractors. |
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Terms : |
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Purchasing : |
Credit |
GENERAL
INFORMATION
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Customers : |
Industrialists |
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No. of Employees : |
40 ( in office) |
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Bankers : |
v State Bank of
India Pimpri Branch v Citibank Pune Branch v Bank of India Pimpri Branch |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr.Deepak Shah Chartered Accountant |
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Address : |
1st Floor, 1154B+C, Sadashiv Peth, Pune-411030,
Maharashtra, India. |
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Sister Concerns : |
v R.B.Engineering
Service |
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Address : |
Near Phugewadi Octroi Post, Dapodi, Pune – 411 012, Maharashtra,
India. |
CAPITAL STRUCTURE
AS ON 31.03.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs. 10/- Each |
Rs.10.000
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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471000 |
Equity Shares |
Rs. 10/- Each |
Rs.4.710 Millions |
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 |
4.710 |
0.500 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
28.015 |
(0.662) |
0.011 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
32.725 |
(0.162) |
0.111 |
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LOAN FUNDS |
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1] Secured Loans |
1.138 |
0.000 |
0.000 |
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2] Unsecured Loans |
14.663 |
3.395 |
0.015 |
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TOTAL BORROWING |
15.801 |
3.395 |
0.015 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
48.526 |
3.233 |
0.126 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.531 |
0.009 |
0.000 |
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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 |
0.750 |
2.314 |
0.000 |
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Sundry Debtors |
75.898 |
0.000 |
0.018 |
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Cash & Bank Balances |
35.439 |
1.516 |
0.108 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
29.205 |
0.935 |
0.000 |
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Total
Current Assets |
141.292
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4.765 |
0.126 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
39.677 |
0.886 |
0.000 |
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Provisions |
57.620 |
0.655 |
0.000 |
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Total
Current Liabilities |
97.297 |
1.541 |
0.000 |
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Net Current Assets |
43.995 |
3.224 |
0.126 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
48.526 |
3.233 |
0.126 |
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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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384.298 |
2.014 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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384.298 |
2.014 |
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Profit/(Loss) Before Tax |
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43.608 |
(0.673) |
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Provision for Taxation |
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14.931 |
0.000 |
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Profit/(Loss) After Tax |
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28.677 |
(0.673) |
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Expenditures : |
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Depreciation & Amortization |
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0.614 |
0.000 |
Note: The Subject Company
Revived its operations w.e.f. 1.01.2006
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 |
(%) |
7.46 |
(33.41) |
- |
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Net Profit Margin (PBT/Sales) |
(%) |
11.34 |
(33.41) |
- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
29.90 |
(14.09) |
- |
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Return on Investment (ROI) (PBT/Networth) |
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1.33 |
4.15 |
- |
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Debt Equity Ratio (Total Liability/Networth) |
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3.45 |
(30.46) |
0.13 |
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Current Ratio (Current Asset/Current Liability) |
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1.45 |
3.09 |
0.00 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8
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This form is for |
Creation of
charge |
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Charge
identification number of the modified
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Corporate
identity number of the company |
U70101MH1990PTC059577 |
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Name of the
company |
RATILAL BHAGWANDAS CONSTRUCTION COMPANY PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Near Phugewadi
Octroi Post, Mumbai Pune Road, Dapodi, Pune – 411012, Maharashtra, India. |
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Type of charge |
Movable Property Others |
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Particular of
charge holder |
State Bank of
India Madam Cama Road,
Mumbai-400021, Maharashtra, India. |
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Nature of
description of the instrument creating or modifying the charge |
Agreement of Loan
Cum Hypothecation |
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Date of
instrument Creating the charge |
09.11.2006 |
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Amount secured by
the charge |
Rs.56.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Term Loan: SBTL 3
that is 2.50% over SBAR, effective
rate is 13.50% per annum Bank guarantee: commission@
1.5% inclusive of service tax Terms of Repayment Term loan will be
rapid in 36 monthly installments of Rs.0.167 Million each and last one
installment of Rs.0.155 Million commencing from November 2006 Bank guarantee
limit is valid for 12 months. Margin Bank Guarantee:
25% cash margin Term Loan: 25% Extent and operation of the charge Extent of charge
is up to October 2009 or till the date of repayment for term loan |
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Short particulars
of the property charged |
Current Assets (raw
material, WIP, cash, cash at bank), Machinery situated at company premises. |
TRADE REFERENCES:
v BHARAT FORCE – IT’S A FOREIGN COMPANY
v OSWAL TEXTILE MILL - KOLHAPUR
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.48.72 |
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UK Pound |
1 |
Rs.82.17 |
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Euro |
1 |
Rs.65.90 |
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 |
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 |
|
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
|
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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