MIRA
INFORM REPORT
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Report Date : |
23.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
UJWAL AUTOMOTIVES PRIVATE LIMITED |
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Registered Office : |
Awadhan, Dhule – 424 311, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
06.03.2000 |
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Com. Reg. No.: |
124692 |
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CIN No.: [Company
Identification No.] |
U50100MH2000PTC124692 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
NSKU00311D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Dealer for Tata Motors |
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 220000 |
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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 Tata Dealers. Trade
relations are fair. Business is active. Payments are reported as usually
correct and as pwer commitments. The company can be considered good normal business dealings. Mr. Gulab Pawar (General Manager) declined to part with any details. |
INFORMATION
DECLINED BY
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Name : |
Mr. Gulab Pawar |
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Designation : |
General Manager |
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Date : |
22.09.2008 |
LOCATIONS
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Registered Office/Head Office : |
Awadhan, Dhule – 424 311, Maharashtra, India |
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Tel. No.: |
91-2562-239462 / 239847 / 239844 / 239659 |
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Mobile No.: |
91-9823388693 |
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Fax No.: |
91-2562-239094 |
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E-Mail : |
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Website : |
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Branch Office : |
Located at ·
Jalgaon ·
Pachora ·
Shahada ·
Chopda ·
Chalisgaon ·
Nandurbar ·
Shirpur |
DIRECTORS
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Name : |
Mr. Kishor Patil |
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Designation : |
Director |
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Name : |
Mr. Ashish Patil |
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Designation : |
Director |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
List of Allotment (As on 31.03.2007)
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Names of Shareholders |
No. of Shares |
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Kishor Yashwant Patil |
98000 |
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Ashish Kishor Patil |
73000 |
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Pushpa Kishor Patil |
73000 |
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Total |
244000 |
Equity shares Breakup (percentage of total equity)
(As on 29.09.2007)
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealer for Tata Motors |
GENERAL
INFORMATION
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Bankers : |
·
Jalgaon Janata Sahakari Bank Limited Seva, 117/119, Navi Peth, Jalgaon – 425
001, Maharashtra, India ·
HDFC Bank Limited HFDC Bank House, Senapati Bapat Marg,
Lower Parel (West), Mumbai – 400 013, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
P D Dalal and Company Chartered Accountants |
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Address : |
Shri Datta Bari Bhavan, Rana Pratap Chowk, Dhule – 424 001,
Maharashtra, India |
CAPITAL STRUCTURE
(As on 29.09.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
800000 |
Equity Shares |
Rs.10/- each |
Rs.8.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
799591 |
Equity Shares |
Rs.10/- each |
Rs.7.996
millions |
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 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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7.996 |
5.556 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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36.919 |
28.808 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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44.915 |
34.364 |
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LOAN FUNDS |
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1] Secured Loans |
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186.687 |
28.047 |
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2] Unsecured Loans |
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90.294 |
96.319 |
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TOTAL BORROWING |
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276.981 |
124.366 |
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DEFERRED TAX LIABILITIES |
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1.956 |
1.223 |
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TOTAL |
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323.852 |
159.953 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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32.649 |
21.642 |
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Capital work-in-progress |
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2.833 |
0.581 |
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INVESTMENT |
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25.982 |
3.149 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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142.587 |
75.893 |
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Sundry Debtors |
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61.561 |
65.848 |
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Cash & Bank Balances |
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70.461 |
13.497 |
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Other Current Assets |
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0.522 |
0.962 |
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Loans & Advances |
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0.788 |
0.590 |
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Total
Current Assets |
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275.919 |
156.790 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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10.980 |
20.738 |
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Provisions |
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2.578 |
1.504 |
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Total
Current Liabilities |
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13.558 |
22.242 |
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Net Current Assets |
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262.361 |
134.548 |
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MISCELLANEOUS EXPENSES |
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0.027 |
0.033 |
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TOTAL |
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323.852 |
159.953 |
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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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1491.982 |
980.688 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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1491.982 |
980.688 |
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Profit/(Loss) Before Tax |
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14.416 |
11.690 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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14.416 |
11.690 |
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Expenditures : |
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Interest |
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12.835 |
6.159 |
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Depreciation & Amortization |
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1.692 |
2.098 |
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Other Expenditure |
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1463.039 |
960.741 |
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Total Expenditure |
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1477.566 |
968.998 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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0.97 |
1.19 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.97 |
1.19 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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4.67 |
6.55 |
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Return on Investment (ROI) (PBT/Networth) |
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0.32 |
0.34 |
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Debt Equity Ratio (Total Liability/Networth) |
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6.47 |
4.27 |
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Current Ratio (Current Asset/Current Liability) |
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20.35 |
7.05 |
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
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Corporate
identity number of the company |
U50100MH2000PTC124692 |
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Name of the
company |
UJWAL AUTOMOTIVES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Awadhan, Dhule – 424 311, Maharashtra, India |
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This form is for |
Creation of
charge |
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Type of charge |
Hypothecation |
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Particular of
charge holder |
Jalgaon Janata Sahakari Bank Limited Seva, 117/119, Navi Peth, Jalgaon – 425 001, Maharashtra, India |
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Nature of
instrument creating charge |
Letter of
Hypothecation |
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Date of
instrument Creating the charge |
31.03.2006 |
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Amount secured by
the charge |
Rs.27.000
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Working Capital
Facilities Interest @ 10% P.A. |
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Description of
the property charged indicating whether it is a charged on |
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Plant and
Machinery ·
Stock in
trade |
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Particulars of
the property charged |
All Machineries
and Goods lying at Show Room at Mumbai Agra Highway, Awdhan, Dhule. |
WEB DETAILS
They are the sole dealer of the entire range of Tata Motors in
the khandesh region. with 27 years of customer service and customer
satisfaction. They have branches in Jalgaon, Shahada, Sakri, Chalisgaon,
Pachora, Nandurbar, Chopda and Shirpur with its head office at Dhule.
They offer
sales, service, spares, accessories, insurance and finance too – all under one
roof. The state of the art workshop has up to date facilities. Expert mechanics
offer high quality care for all the Tata vehicles. Original and genuine spare
parts for all Tata commercial vehicles are available here.
Easy finance help, spot finance facility, immediate loan sanctions with low
interest rates, minimum loan payments, less EMI are some of the facilities
available here.
Other services include
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Prompt delivery
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RTO passing
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Accident vehicle maintenance
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Highway service
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Breakdown service
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Quality service and repairs
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Satisfactory car wash
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Follow up call after service
TATA MODELS
They are the sole dealer of the
entire range of Tata Motors
Passenger Cars
·
Indica V2
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Indigo
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Indica V2 Turbo
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Indigo Marina
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Indica V2 Xeta
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Indigo Sx
Utiliti Vehicles
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Spacio
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Sumo Victa
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Safari Dicor
Buses
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Starbus and Globus
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Other Buses
Trucks
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Medium and Heavy Comm.
Vehicles
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Intermediate Comm. Vehicles
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Light Comm. Vehicles
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Tractors
ACCESSORIES
They provide accessories of the
entire range of Tata Motors
Passenger Cars
·
Indica V2
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Indigo
·
Indica V2 Turbo
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Indigo Marina
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Indica V2 Xeta
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Indigo Sx
Utiliti Vehicles
·
Spacio
·
Sumo Victa
·
Safari Dicor
Buses
·
Starbus and Globus
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Other Buses
Trucks
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Medium and Heavy Comm.
Vehicles
·
Intermediate Comm. Vehicles
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Light Comm. Vehicles
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Tractors
SERVICES
·
They offer sales, service, spares, accessories, insurance
and finance too – all under one roof.
·
The state of the art workshop has up to date facilities.
·
Expert mechanics offer high quality care for all the Tata
vehicles.
·
Original and genuine spare parts for all Tata commercial
vehicles are available here.
·
Easy finance help spot finance facility, immediate loan
sanctions with low interest rates, minimum loan payments,
less EMI Prompt delivery
·
RTO passing
·
Accident vehicle maintenance
·
Highway service
·
Breakdown service
·
Quality service and repairs
·
Satisfactory car wash
·
Follow up call after service
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.40 |
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UK Pound |
1 |
Rs.83.15 |
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Euro |
1 |
Rs.65.74 |
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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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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 |
|
48 |
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 |
|
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 |
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