MIRA
INFORM REPORT
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Report Date : |
23.10.2008 |
IDENTIFICATION DETAILS
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Name : |
AN MARKETING SERVICES PRIVATE LIMITED |
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Registered Office : |
Flat No. B-5, Nannan Kundil, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
14.08.2001 |
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Com. Reg. No.: |
18-47595 |
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CIN No.: [Company
Identification No.] |
U51506TN2001PTC047595 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEA11147D |
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PAN No.: [Permanent
Account No.] |
AADCA7452J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Dealer and Distributor for HP, Intel of all Parts ands Accessories |
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 9100 |
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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. Vijay |
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Designation : |
Account Manager |
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Contact No.: |
91-9884098016 |
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Date : |
20.10.2002 |
LOCATIONS
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Registered Office : |
Flat No. B-5, Nannan Kundil, Narmada Nagar, |
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Tel. No.: |
91-44-24718545 |
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E-Mail : |
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Website : |
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Area : |
1000 sq.ft (Rented) |
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Administrative Office : |
Shop No. 7, Door No. 110 (Old No. 62), T N H B Shopping Complex, 4th
Avenue Main Road, Ashok Nagar, Chennai-600083, Tamilnadu, India |
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Tel. No.: |
91-44-52033123/ 24890819 |
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Fax No.: |
91-44-24890819 |
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E-Mail : |
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Area : |
800 sq.ft (Rented) |
DIRECTORS
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Name : |
Mr. R N Meenakshisundaram |
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Designation : |
Managing Director |
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Address : |
No. 11, |
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Date of Birth/Age : |
25.10.1965 |
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Qualification : |
Diploma Holder |
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Date of Appointment : |
14.08.2001 |
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Name : |
Mr. Narang G |
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Designation : |
Director |
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Address : |
No. 11, |
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Date of Birth/Age : |
01.05.1973 |
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Date of Appointment : |
14.08.2001 |
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Date of Ceasing : |
03.02.2007 |
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Name : |
Mr. Kothari Meenakshisundaram |
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Designation : |
Director |
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Address : |
No. 967, |
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Date of Birth/Age : |
26.06.1973 |
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Qualification : |
Diploma Holder |
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Date of Appointment : |
14.08.2001 |
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Name : |
Mr. Vijay |
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Designation : |
Account Manager |
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Mobile No. : |
91-9884098016 |
KEY EXECUTIVES
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Name : |
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Designation : |
Company Secretary |
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Address : |
C/2, Yamuna Flats, 16th Street, Nanganllur, Chennai-600061,
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Date of Birth/Age : |
91-44-22313354 |
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Name : |
Mr. Vijay |
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Designation : |
Account Manager |
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Mobile No. : |
91-9884098016 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on
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Names of Shareholders |
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No. of Shares |
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R |
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69000 |
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G Nagrajan |
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25000 |
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Kothari Meenakshisundaram |
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25000 |
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Total |
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119000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealer and Distributor for HP, Intel of all Parts ands Accessories |
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Terms : |
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Selling : |
Cash and Credit ( 30-60 Days) |
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Purchasing : |
Credit ( 30 Days) |
GENERAL INFORMATION
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Suppliers : |
·
Alphalec Solutions ·
COS Infotech Limited ·
Epson India Limited ·
Eaya Information Technologies ·
Excellent Mark and Services ·
Ingran Micro India Private Limited ·
R.M Computers ·
Microsoft ·
Eager Computers ·
Meena Technomedia Solutions ·
Microsoft Systems and Consultants ·
Palkan Omca Auto Private Limited ·
Rad Computers |
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Customers : |
·
Kumaran Jewellers ·
ID Tech Private Limited ·
ICICI Limited ·
Wholesalers ·
Retailers ·
End Users |
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No. of Employees : |
35 |
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Bankers : |
·
ICICI Bank Limited, Landmark Race Cource Circle,
Alkapuri, Baroda-390015, Gujarat, India ·
Centurion Bank of Punjab ·
Ing Visya ·
Standard Chartered Bank ·
Dhanalakshmi Bank Limited ·
Bank of India ·
HDFC Bank Limited ·
Oriental Bank of Commerce |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Rao and Jayraman Chartered Accountant |
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Address : |
Flat No. 1, Mahalakshmi Flats, New No. 26, Old No. 13, Tank Bund Road,
Nungambakkam, Chennai-600034, Tamilnadu, India |
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Tel. No.: |
91-44-28253880 |
CAPITAL STRUCTURE
As on 29.12.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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119000 |
Equity Shares |
Rs. 10/-
each |
Rs. 1.190
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 |
1.190 |
1.190 |
1.190 |
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2] Share Application Money |
0.212 |
0.212 |
0.212 |
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3] Reserves & Surplus |
0.422 |
0.292 |
0.122 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.824 |
1.694 |
1.524 |
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LOAN FUNDS |
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1] Secured Loans |
2.991 |
0.174 |
0.350 |
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2] Unsecured Loans |
0.638 |
0.000 |
0.000 |
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TOTAL BORROWING |
3.629 |
0.174 |
0.350 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
5.453 |
1.868 |
1.874 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.457 |
1.168 |
1.084 |
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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 |
6.344
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5.755 |
3.034 |
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Sundry Debtors |
5.182
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8.363 |
3.421 |
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Cash & Bank Balances |
0.399
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2.929 |
0.696 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
1.760
|
0.795 |
0.745 |
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Total
Current Assets |
13.685
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17.842 |
7.896 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
9.628
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17.107 |
7.101 |
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Provisions |
0.061
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0.035 |
0.005 |
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Total
Current Liabilities |
9.689
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17.142 |
7.106 |
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Net Current Assets |
3.996
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0.700 |
0.790 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
5.453 |
1.868 |
1.874 |
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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 |
112.283 |
105.702 |
68.716 |
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Other Income |
0.000 |
3.727 |
2.834 |
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Total Income |
112.283 |
109.429 |
71.550 |
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Profit/(Loss) Before Tax |
0.233 |
0.331 |
0.168 |
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Provision for Taxation |
0.104 |
0.161 |
0.113 |
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Profit/(Loss) After Tax |
0.129 |
0.170 |
0.055 |
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Expenditures : |
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Cost of Goods Sold |
0.000 |
103.798 |
67.155 |
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Administrative Expenses |
0.000 |
1.991 |
1.603 |
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Human Resource and Expenses |
0.000 |
2.066 |
1.465 |
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Finance Charges |
0.000 |
0.080 |
0.113 |
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Increase or decrease in stock |
0.000 |
[0.126] |
[40.108] |
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Selling Expenses |
0.000 |
1.163 |
1.046 |
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Depreciation & Amortization |
0.137 |
0.126 |
0.108 |
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Total Expenditure |
112.050 |
109.098 |
31.382 |
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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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PAT / Total Income |
(%) |
0.11
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0.16 |
0.08 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.21
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0.31 |
0.24 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.54
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1.74 |
1.87 |
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Return on Investment (ROI) (PBT/Networth) |
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0.13
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0.19 |
0.11 |
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Debt Equity Ratio (Total Liability/Networth) |
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7.30
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10.64 |
4.89 |
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Current Ratio (Current Asset/Current Liability) |
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1.41
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1.04 |
1.11 |
LOCAL AGENCY FURTHER INFORMATION
The Registered Office of the company has been shifted from Shop No. 7,
Door No. 110 (Old No. 62), T N H B Shopping Complex, 4th Avenue Main
Road, Ashok Nagar, Chennai-600083, Tamilnadu, India to present address w.e.f.
02.05.2007
Trade References:
·
Tata Consultancy Services
·
HTC
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U51506TN2001PTC047595 |
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Name of the
company |
AN MARKETING SERVICES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Flat No. B-5, Nannan Kundil, Narmada Nagar, Sabapathi Street,
Ullagram, Chennai-600091, Tamilnadu, India |
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Type of charge |
Book Debts Movable Property Others |
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Particular of
charge holder |
ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri,
Baroda-390015, Gujarat, India |
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Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation |
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Date of instrument
Creating the charge |
03.08.2007 |
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Amount secured by
the charge |
Rs. 1.000 Million |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest I-BAR ( 15.75%) +
Term Premium ( 0.0%) Minus (0.75%) Subject to a minimum of 15.0% Terms of
Repayment 52 Equal Weekly
installments Margin NA Extent and
Operation of the charge Exclusively by
the Charge Holder |
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Short particulars
of the property charged |
The Account Assets,
Credit Card Receivables, All bank Assets, All receivables and Book debts |
Fixed Assets:
·
Land
·
Car
·
Furniture and Fixture
·
Compuer and Accessories
·
Electrical Fittings
·
Office Equipments
·
Vehicle
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.49.29 |
|
UK Pound |
1 |
Rs.80.40 |
|
Euro |
1 |
Rs.63.35 |
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 |
|
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 |
|
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 |
|
<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 |
|