MIRA
INFORM REPORT
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Report Date : |
22.10.2008 |
IDENTIFICATION DETAILS
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Name : |
NAHATA DATA PRODUCTS PRIVATE LIMITED |
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Registered Office : |
15, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
11.06.1997 |
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Com. Reg. No.: |
11-108703 |
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CIN No.: [Company
Identification No.] |
U27201MH1997PTC108703 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMB07410E |
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PAN No.: [Permanent
Account No.] |
AAACB4257B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Distributor of Computer and their Peripherals for HP, Samsung, Canan,
Maserbear and logistics 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 26000 |
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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. Financial position is satisfactory. Payments are usually
correct and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
INFORMATION PARTED BY
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Name : |
Mr. Vivek Nahata |
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Designation : |
Director |
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Date : |
20.10.2008 |
LOCATIONS
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Registered Office : |
15, |
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Tel. No.: |
91-22-23425382 |
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E-Mail : |
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Branch office : |
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Area : |
Rented |
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Branch office : |
Sindu House, Opposite Akbar Ali Fort, Mumbai-400001, |
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Area : |
Rented |
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Branch office : |
Near Kandivali Station, |
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Tel. No.: |
91-22-28011657 |
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Area : |
Owned |
DIRECTORS
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Name : |
Mr. Mahavir C Nahata |
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Designation : |
Director |
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Address : |
15, |
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Date of Birth/Age : |
08.01.1966 |
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Qualification : |
B.Com |
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Date of Appointment : |
11.06.1997 |
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Name : |
Mr. Rajendra C Nahata |
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Designation : |
Director |
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Address : |
15, |
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Date of Birth/Age : |
31.12.1961 |
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Qualification : |
B.Com |
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Date of Appointment : |
11.06.1997 |
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Name : |
Mr. Ashok C Nahata |
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Designation : |
Director |
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Address : |
15, |
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Date of Birth/Age : |
07.01.1958 |
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Qualification : |
B.Com |
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Date of Appointment : |
17.10.2001 |
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Name : |
Mr. Vivek Ashok Nahata |
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Designation : |
Director |
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Address : |
15, |
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Date of Birth/Age : |
08.04.1984 |
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Qualification : |
B.Com |
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Date of Appointment : |
16.10.2002 |
KEY EXECUTIVES
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Name : |
Mr. Kishor V Ved |
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Designation : |
Company Secretary |
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Address : |
102, 1st Floor, Nageshwar Krupa, Ratan Bhuvan No. 2, Garden
Lane, Ghatkopar (West), Mumbai-400086, Maharashtra, India |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2007
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Names of Shareholders |
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No. of Shares |
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Mahavir Champlal Nahata |
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25000 |
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Rajendra C Nahata |
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25000 |
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Ashok C Nahata |
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69989 |
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Champalal C Nahata |
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10000 |
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Bidamidevi C Nahata |
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10000 |
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Vimla Ashok Nahata |
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2000 |
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Priyadarshni R Nahata |
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2000 |
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Mamta M Nahta |
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2000 |
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Pooja A Nahata |
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2000 |
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Vivek A Nahata |
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2000 |
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Kishankumar Nahata Jointly with Dhanrja Nahata |
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1 |
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Jagdemaba Prasad Pandey |
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1 |
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Jagdamba P Pandey Jointly with Srikant R Shah |
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1 |
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Vipul N Pathak |
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1 |
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Mahendrakumar Ghhsulaji |
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1 |
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Rushi C Parikh |
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1 |
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Pukhraj Talesara |
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1 |
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Inderchand Parekh Vaktwarmat Balar Bharatkumar Balar Lalitaben Balar |
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1 |
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Deoraj Talesara |
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1 |
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Ashok Bafna |
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1 |
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Bansilal Jain |
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1 |
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Total |
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150000 |
Equity Share Breakup (Percentage of Total Equity)
As on 29.09.2007
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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 : |
Distributor of Computer and their Peripherals for HP, Samsung, Canan,
Maserbear and logistics etc. |
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Terms : |
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Selling : |
Credit ( 30 Days) |
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Purchasing : |
Credit ( 30 Days) |
GENERAL INFORMATION
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No. of Employees : |
20 |
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Bankers : |
The Greater Bombay Co-operative Bank Limited, GBCB House, 89,
Bhuleshwar, Mumbai-400002, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Jayendra R Parikh and Company Chartered Accountant |
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Address : |
705/706, Siddharth Tower, Kastur Park, Shimpoli Road, Borivali (West),
Mumbai-400092, Maharashtra, India |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Shares |
Rs. 10/-
each |
Rs. 1.500
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 |
1.500 |
1.500 |
1.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
3.811 |
2.717 |
1.941 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
5.311 |
4.217 |
3.441 |
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LOAN FUNDS |
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1] Secured Loans |
21.628 |
18.673 |
16.047 |
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2] Unsecured Loans |
7.898 |
6.828 |
3.314 |
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TOTAL BORROWING |
29.526 |
25.501 |
19.361 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
34.837 |
29.718 |
22.802 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.475 |
0.456 |
0.549 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.500 |
0.440 |
0.377 |
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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 |
28.427 |
18.566 |
14.438 |
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Sundry Debtors |
26.051 |
18.396 |
13.851 |
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Cash & Bank Balances |
3.370 |
3.252 |
2.786 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
1.925 |
0.443 |
0.788 |
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Total
Current Assets |
59.773 |
40.657 |
31.863 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
25.316 |
11.423 |
9.248 |
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Provisions |
0.605 |
0.425 |
0.755 |
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Total
Current Liabilities |
25.921 |
11.848 |
10.003 |
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Net Current Assets |
33.852 |
28.809 |
21.860 |
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MISCELLANEOUS EXPENSES |
0.010 |
0.013 |
0.016 |
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TOTAL |
34.837 |
29.718 |
22.802 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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274.311 |
187.609 |
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Other Income |
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0.262 |
0.308 |
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Total Income |
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274.573 |
187.917 |
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Profit/(Loss) Before Tax |
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1.706 |
1.185 |
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Provision for Taxation |
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0.612 |
0.409 |
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Profit/(Loss) After Tax |
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1.094 |
0.776 |
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Expenditures : |
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Cost of Goods Sold |
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263.695 |
179.897 |
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Administrative Expenses |
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5.946 |
4.105 |
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Interest |
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3.129 |
2.634 |
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Preliminary Expenses |
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0.003 |
0.003 |
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Depreciation & Amortization |
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0.094 |
0.093 |
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Total Expenditure |
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272.867 |
186.732 |
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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 |
(%) |
0.39
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0.41 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
0.62
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0.63 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.83
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2.89 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.32
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0.28 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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10.44
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8.86 |
8.53 |
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Current Ratio (Current Asset/Current Liability) |
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2.31
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9.64 |
3.19 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
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This form is for |
Modification of
charge |
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Charge
identification number of the modified |
80021143 |
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Corporate
identity number of the company |
U27201MH1997PTC108703 |
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Name of the
company |
NAHATA DATA PRODUCTS PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in India of the company |
15, Dhanji Street White House, 2nd Floor, Mumbai-400002,
Maharashtra, India |
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Type of charge |
Book Debts Movable Property Floating Charge |
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Particular of charge
holder |
The Greater Bombay Co-operative Bank Limited, GBCB House, 89,
Bhuleshwar, Mumbai-400002, Maharashtra, India |
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Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement |
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Date of instrument
Creating the charge |
09.02.2008 |
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Amount secured by
the charge |
Rs. 32.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit Rs. 30.000
Millions and Withdrawal Rs. 2.000 Millions : PLR i.e. 12.50% p.a. at monthly
rest. Terms of
Repayment On Demand Margin 30% on Stocks,
and 40% on
Receivables Extent and
Operation of the charge Hypothecation of Assets
of the Company as specified in Item No. 14 aeaes in favour of the Bank as
specified in Item No, 14 as security for the repayment of Credit Facility
together with interest, costs, charges, expenses etc. |
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Short particulars
of the property charged |
a)
Hypothecation
of Stock, Book-Debts/ receivables b)
Hypothecation
Plant and Machinery, furniture and Fixture |
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Date of latest
modification prior to the present modification |
28.12.2006 |
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Particulars of
the present modification |
The Bank having
at the request of the Borrower agreed to sanctioned additional Credit
Facility of Rs. 5.500 Millions thereby charge now increased form Rs. 26.500
Millions to Rs. 32.000 millins (Cash Credit Rs. 30.000 Millions, Withdrawal
Rs. 2.000 Millions) |
Fixed Assets:
·
Computer Systems
·
Fax Machines
·
Motor Car
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Motor Van
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Motor Cycle
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Scooter
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EPBX Telephone
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Motor Car (Accent)
·
Computer Program
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.48.83 |
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UK Pound |
1 |
Rs.85.12 |
|
Euro |
1 |
Rs.65.86 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
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 |
|
46 |
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 |
|