MIRA
INFORM REPORT
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Report Date : |
16.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHALIMAR PRECISION ENTERPRISES PRIVATE LIMITED |
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Registered Office : |
A - 61, Naraina Industrial Area, Phase – I, New Delhi – 110 028 |
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Country : |
India |
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Financial As On : |
31.03.2007 |
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Date of Incorporation : |
28.04.2006 |
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Com. Reg. No.: |
55 -148494 |
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CIN No.: [Company
Identification No.] |
U74991DL2006PTC148494 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS30261A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Automobile Spare Part, Bicycle Parts,
Hand Tools, Electrical, Sanitary, Handicraft items and Public Address
Systems. |
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 107625 |
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Status : |
Good |
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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 and has improved it’s
performance. Trade relations are fair. Payments are usually correct and as per
commitments. The company can be considered normal for business dealings at usual trade
terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Verges |
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Designation : |
Manager |
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Date : |
02.09.2008 |
LOCATIONS
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Registered
Office / Corporate Office : |
A - 61, Naraina Industrial Area, Phase – I, New Delhi – 110 028 |
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Tel. No.: |
91-11-45003000 |
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Fax No.: |
91-11-25892131/ 26193423 |
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E-Mail : |
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Website : |
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Area : |
1300 sq ft |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Rahul Kochhar |
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Designation : |
Director |
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Address : |
B -6/73, Safederjang Enclave, new Delhi – 110 029, India |
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Date of Birth/Age : |
15.02.1984 |
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Qualification : |
MBA |
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Date of Appointment : |
01.05.2006 |
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Email: |
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Name : |
Mr. Siddharth Kochhar |
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Designation : |
Director |
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Address : |
B -6/73, Safederjang Enclave, new Delhi – 110 029, India |
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Date of Birth/Age : |
04.06.1988 |
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Date of Appointment : |
01.05.2006 |
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Email: |
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Name : |
Mr. Rajan Kochhar |
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Designation : |
President |
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Address : |
B -6/73, Safederjang Enclave, new Delhi – 110 029, India |
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Date of Birth/Age : |
02.03.1958 |
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Qualification : |
M.Com |
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Date of Appointment : |
01.05.2006 |
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Name : |
Mrs. Poonam Kochhar |
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Designation : |
Director |
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Address : |
B -6/73, Safederjang Enclave, new Delhi – 110 029, India |
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Date of Birth/Age : |
28.11.1960 |
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Qualification : |
M.Com |
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Date of Appointment : |
01.05.2006 |
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Name : |
Mr. Shailender Kochhar |
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Designation : |
Director |
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Address : |
B -6/73, Safederjang Enclave, new Delhi – 110 029, India |
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Date of Birth/Age : |
25.01.1960 |
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Qualification : |
M.Com |
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Date of Appointment : |
01.05.2006 |
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Name : |
Mrs. Rati Kochhar |
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Designation : |
Director |
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Address : |
B -6/73, Safederjang Enclave, new Delhi – 110 029, India |
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Date of Birth/Age : |
28.06.1961 |
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Qualification : |
MBA |
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Date of Appointment : |
01.05.2006 |
KEY EXECUTIVES
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Name : |
Mr. Rajan Kochhar |
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Designation : |
President |
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Address : |
B -6/73, Safederjang Enclave, new Delhi – 110 029, India |
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Date of Birth/Age : |
02.03.1958 |
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Email: |
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Directorship in the Other companies: |
CIN of the Company: U74899DL1981PTC011911 Name of the Company: Shalimar International Private Limited Designation : Director CIN of the Company: U74899DL1981PTC012203 Name of the Company: Shalu Services Private Limited Designation : Director |
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Partnership held in the partnership firm: |
Name of the Partnership Firm: Shalimar Enterprises Address: B -6/73, Safderjang Enclave, new Delhi – 110 029, India |
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Name : |
Mr. Shalindar Kochhar |
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Designation : |
Vice president |
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Address : |
B -6/73, Safederjang Enclave, New Delhi – 110 029, India |
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Date of Birth/Age : |
25.01.1960 |
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Email: |
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Directorship in the Other companies: |
· CIN of the Company: U74899DL1981PTC011911 Name of the Company: Shalimar
International Private Limited Designation : Director |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 28.09.2007
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Names of Shareholders |
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No. of Shares |
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Rajan Kochhar |
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2000 |
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Shalindar Kochhar |
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2000 |
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Poonam Kochhar |
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2000 |
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Rati Kochhar |
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2000 |
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Rahul Kochhar |
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1000 |
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Sidharth Kochhar |
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1000 |
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Total |
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10000 |
AS ON 28.09.2007
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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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100.000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Automobile Spare Part, Bicycle Parts,
Hand Tools, Electrical, Sanitary, Handicraft items and Public Address
Systems. |
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Products : |
· Steering and Suspension Parts · Gears · Bearings · Cables · Gaskets · Pulleys · Trailer |
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Exports : |
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Products : |
Automobile Spare Part |
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Countries : |
China and African Countries |
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Terms : |
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Selling : |
Credit (90 Days) |
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Purchasing : |
Cash |
GENERAL
INFORMATION
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Customers : |
Wholesaler |
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No. of Employees : |
70 |
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Bankers : |
· Canara Bank Address: B -39, Connaught Circus, New
Delhi – 110 001, Delhi, India Email: delhi1588@canbank.co.in ·
HDFC Bank · ICICI Bank |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Mr. Ashok Malik Chartered Accountant |
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Address : |
Nayar and Malik Chartered Accountant, 370A Sant Nagar East of Kailash,
New Delhi – 110065, India |
CAPITAL STRUCTURE
AS ON 28.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity shares |
Rs. 10/- each |
Rs. 1.000 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity shares |
Rs. 10/- each |
Rs. 0.100 million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.000 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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20.525 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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21.525 |
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LOAN FUNDS |
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1] Secured Loans |
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132.843 |
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2] Unsecured Loans |
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19.047 |
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TOTAL BORROWING |
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151.890 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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173.416 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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19.545 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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1.988 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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0.000 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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222.945 |
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Total
Current Assets |
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222.945 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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71.063 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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71.063 |
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Net Current Assets |
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151.881 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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173.416 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover |
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340.561 |
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Other Income |
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0.000 |
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Total Income |
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340.561 |
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Profit/(Loss) Before Tax |
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30.715 |
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Provision for Taxation |
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10.189 |
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Profit/(Loss) After Tax |
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20.526 |
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Total Expenditure |
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309.846 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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PAT / Total Income |
(%) |
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06.02 |
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Net Profit Margin (PBT/Sales) |
(%) |
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09.01 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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12.56 |
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Return on Investment (ROI) (PBT/Networth) |
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1.42 |
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Debt Equity Ratio (Total Liability/Networth) |
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10.35 |
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Current Ratio (Current Asset/Current Liability) |
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3.13 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
·
Universal Auto – Delhi
·
Pipe Auto – Delhi
Form No.8
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This form is form |
Creation of charge |
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Corporation identity number or foreign company registrations number of
the company |
U74991DL2006PTC148494 |
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Name of the company |
SHALIMAR PRECISION ENTERPRISES PRIVATE
LIMITED |
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Address |
A - 61, Naraina Industrial Area, Phase – I,
New Delhi – 110 028, Delhi |
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This Form is for |
Creation of charge |
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Type of Charges |
Others |
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Particular of the charge holder
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Canara Bank Address: B -39, Connaught Circus, New
Delhi – 110 001, Delhi, India Email: delhi1588@canbank.co.in |
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Nature or description of the instrument creating charge |
Counter Indemnity Agreement , Counter
Indemnity Letter for Negotiation / purchaser/ Discount of Bills |
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Date of the instrument creating charge |
28.11.2006 |
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Amount Secure by the charge |
Rs. 12.150 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate
of interest: FDB/ FBE (O) limit – 8.25% p.a. compounded
monthly subject to change from time to time BG (ST) Limit – As would prevail
at the time of arising of any liability under the limit. Term
of repayments: Payable on demand Margin: As may be stipulated by the Bank from time
to time Extent
and operation of the charge 100% Others The above is to secure all amounts payable
under the following credit facilities granted to the Company with all
interest, costs, charge, expenses, commission etc.
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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 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
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.94 |
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UK Pound |
1 |
Rs.82.84 |
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Euro |
1 |
Rs.65.95 |
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 |
YES |
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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 |
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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 |
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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/normal. |
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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