MIRA
INFORM REPORT
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Report Date : |
01.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
MCT CARDS AND TECHNOLOGY PRIVATE LIMITED |
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Registered Office : |
Udayavani Building, Press Corner, Manipal – 576104, Karnataka. |
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Country : |
India |
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Financials (as on) : |
31.03.2009 (Projected) |
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Date of Incorporation : |
19.02.2008 |
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Com. Reg. No.: |
45316 |
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CIN No.: [Company
Identification No.] |
U72900KA2008PTC045316 |
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IEC No.: |
0707030757 |
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PAN No.: [Permanent
Account No.] |
AAFCM4088E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Sales, Purchase, Import, Export and Processing of all
types of plastic cards, including smart cards, Debit / Credit Cards for banks
and financial institutions, Membership Cards, Loyalty Cards, Gift Cards, Chip
embedded Cards (Contact and Contactless), Chip embedded smart cards (Contact
and Contactless) RIFD Based Cards, Insurance / Health Cards, Printed Plastic
Cards, SIM Cards, Plastic Scratches off Cards and any Form of Cards. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company promoted by Manipal Press Limited. The company
expects to registere good business in its first year of operations. No
payment could be made available at present. The company can be considered for small to mediocre business dealings,
with slight caution initially. |
INFORMATION PARTED
BY
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Name : |
Mr. Rajesh Shet |
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Designation : |
Head Operations |
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Contact No.: |
91-9845518223 |
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Date : |
30.08.2008 |
LOCATIONS
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Registered Office : |
Udayavani Building, Press Corner, Manipal – 576104, Karnataka, India |
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Tel. No.: |
91-820-2571151 |
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Fax No.: |
91-820-2571380 |
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E-Mail : |
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Website : |
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Head Office / Factory : |
Property on Plot No.22, Survey No.433/1, Shivaji Village, Industrial
Area Manipal – 76104 |
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Tel. No.: |
91-820-2205370 |
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Mob No.: |
91-9845518223 |
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Fax No.: |
91-820-2570831 |
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E-Mail : |
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Area : |
4000 sq ft |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Tonse Upendra Pai |
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Designation : |
Director |
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Address : |
38, Ananthnagar Manipal, Karnataka, India |
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Date of Birth/Age : |
26.01.1941 |
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Name : |
Mr. Tonse Guatham S Pai |
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Designation : |
Director |
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Address : |
38, Ananthnagar Manipal, Karnataka, India |
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Date of Birth/Age : |
26.09.1974 |
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Name : |
Mr. K. L. Rao |
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Designation : |
Director |
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Address : |
Vijaylaxmi MGM, Bunder Road, Opp. Paniyadi Uvaka Mandala, Kunjibettu
Post, Udupi – 576102, Karnataka, India |
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Date of Birth/Age : |
05.03.1940 |
KEY EXECUTIVES
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Name : |
Mr. Rajesh Shet |
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Designation : |
Head Operations |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Manipal Press limited |
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4800000 |
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Thomas Greg And Sons limited |
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1600000 |
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Glory Wise International Limited |
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1600000 |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer, Sales, Purchase, Import, Export and Processing of all
types of plastic cards, including smart cards, Debit / Credit Cards for banks
and financial institutions, Membership Cards, Loyalty Cards, Gift Cards, Chip
embedded Cards (Contact and Contactless), Chip embedded smart cards (Contact
and Contactless) RIFD Based Cards, Insurance / Health Cards, Printed Plastic
Cards, SIM Cards, Plastic Scratches off Cards and any Form of Cards. |
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Products : |
· smart cards · Debit / Credit
Cards for banks and financial institutions · Membership Cards · Loyalty Cards · Gift Cards · Chip embedded
Cards (Contact and Contactless) · Chip embedded
smart cards (Contact and Contactless) · RIFD Based Cards
· Insurance /
Health Cards · Printed Plastic
Cards · SIM Cards · Plastic
Scratches off Cards · Any Form of
Cards |
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Terms : |
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Selling : |
Credit (90 Days) |
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Purchasing : |
L/C and Credit (365 Days) |
GENERAL
INFORMATION
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Customers : |
· Bank · Financial Institutions
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No. of Employees : |
58 (Office – 8, Factory - 50) |
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Bankers : |
Syndicate Bank, Manipal, Karnataka, India State Bank of Mysore |
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Facilities : |
Rs.210.000 Millions Credit Term Loan Rs.42.500 Millions Credit Working Capital |
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Auditors : |
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Name : |
Not Disclosed |
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Associates/Subsidiaries : |
MANIPAL PRESS LIMITED |
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Address : |
Press Concern, Manipal |
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Line of Business : |
Printing |
CAPITAL STRUCTURE
AS ON 19.02.2008
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000000 |
Equity Shares |
Rs. 10/- Each |
Rs.100.000
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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8000000 |
Equity Shares |
Rs. 10/- Each |
Rs.80.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
PROJECTED
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Particulars |
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31.03.2009 |
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Sales Turnover |
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132.640 |
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Other Income |
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0.000 |
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Total Income |
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132.640 |
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Profit Before Tax |
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9.430 |
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Provision for Tax |
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3.120 |
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Profit After tax |
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6.310 |
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Expenditures |
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Cost of Goods Sold |
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97.610 |
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Manufacturing Expenses |
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6.000 |
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Depreciation |
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6.000 |
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Interest |
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13.600 |
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Total
Expenditure |
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123.210 |
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LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
·
Canara Bank, Head Office, Bangalore
Contact : K P Hedge (Divisional Manager)
·
AXIS bank, Corporate Office, Mumbai
Contact : VP and CUP Head
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Federal Bank, Federal Towers, Kerala
Contact : T P Mathai (Chief Manager)
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.43.79 |
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UK Pound |
1 |
Rs.80.05 |
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Euro |
1 |
Rs.64.56 |
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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