MIRA INFORM REPORT
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Report Date : |
09.04.2011 |
IDENTIFICATION DETAILS
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Name : |
ROADWINGS INTERNATIONAL PRIVATE LIMITED |
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Registered
Office : |
8, Camac Street, Kolkata-700017, West Bengal |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
20.06.1988 |
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Com. Reg. No.: |
21-044666 |
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CIN No.: [Company Identification
No.] |
U51109WB1988PTC044666 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CALR02229D |
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Legal Form : |
Private limited liability company |
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Line of Business
: |
Merchant exporter like spices, pulse, dal, rice etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (49) |
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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 910000 |
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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 reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. Profit and Loss of the company is not available. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION DENIED BY
Management non cooperative.
LOCATIONS
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Registered Office : |
8, Camac Street, Kolkata-700017, West Bengal, India |
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Tel. No.: |
91-33-22825784 / 22825849 |
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Fax No.: |
91-33-22828760 |
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Email : |
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Web side : |
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Branches : |
Zonal Office Ahmadabad Office Sukh Sagar Complex, Room No.601, 6th Floor, Near Hotel
Fortune Land Mark, Usmanpura, Ashram Road, Ahmadabad-380013, Gujarat, India Mobile No: 91-9328127336 /
07927553254 (Mr. Kamal Dixit) Delhi Office 301, B. D. Chambers, 10/54, Desh Bandhu Gupta Road, Karol Bagh, New
Delhi-110005, Delhi, India Mobile No: 91-9015628980
(Mr. Ashok Sharma) Mumbai Office 304, Nirma Plaza, Marol Makwana Road, Andheri (East), Mumbai-400059,
Maharashtra, India Mobile No: 91-9821075128 (Mr.
Kamal Sureka) |
DIRECTORS
As On : 30.09.2010
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Name : |
Mr. Sharwan Kumar Sureka |
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Designation : |
Director |
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Address : |
161, Meghmalhar Complex, Goregaon, Mumbai-400056, Maharashtra, India |
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Date of Birth/Age : |
11.03.1963 |
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Date of Appointment : |
01.04.2001 |
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PAN No : |
ALMPS8650D |
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DIN No : |
00022280 |
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Name : |
Mr. Sanjay Kumar Sureka |
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Designation : |
Director |
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Address : |
31, Judges Court Road, Kolkata-700027, West Bengal, India |
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Date of Birth/Age : |
26.06.1969 |
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Date of Appointment : |
27.06.1988 |
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PAN No : |
ALMPS8659L |
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DIN No : |
00031470 |
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Name : |
Mr. Bhani Sureka Ram |
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Designation : |
Director |
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Address : |
6, Hastings Park Road, Kolkata-700027, West Bengal, India |
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Date of Birth/Age : |
02.11.1940 |
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Date of Appointment : |
01.02.2002 |
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PAN No : |
ALMPS8648D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Shrawan Kumar Sureka |
|
774820 |
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Sanjay Kumar Sureka |
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742900 |
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Suresh Kumar Buntiwala |
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83600 |
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Radhe Shyam Kachhawal |
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153900 |
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Rajeev Kumar Jain |
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95000 |
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Bhawani Shankar Sharma |
|
76000 |
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Rajeev Jain |
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34200 |
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Rinku Sureka |
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66500 |
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Usha Sureka |
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216600 |
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Shrawan Kumar Sureka HUF |
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31730 |
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Sanjay Kumar Sureka HUF |
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53390 |
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Pratyaksh Sureka |
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19000 |
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Anushman Sureka |
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38000 |
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Anushka Sureka |
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38000 |
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Nirmala Jain |
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57000 |
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Adarsh Sureka |
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351880 |
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Narendra Kumar Saraf |
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64600 |
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Rajmahal Tea and Agro Private Limited, India |
|
809400 |
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Rishab Electro and Electric |
|
114000 |
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Golden Fiscal Services Limited, India |
|
114000 |
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Milestone Commercial Private Limited, India |
|
380000 |
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Cosmat Traders Private Limited, India |
|
380000 |
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BNA Commercial Private Limited, India |
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38000 |
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Wattkings Commercial Private Limited, India |
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38000 |
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Total |
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4770520 |
AS ON 30.09.2010
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Bodies corporate |
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39.00 |
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Directors or relatives of directors |
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61.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Merchant exporter like spices, pulse, dal, rice etc. |
GENERAL INFORMATION
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No. of Employees : |
Not divulged by the management. |
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Bankers : |
State Bank of India, Commercial Branch |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
SREI Equipment Finance Private Limited, Vishwakarma, 86C, Topsia Road,
Kolkata-700046, West Bengal, India |
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Auditors : |
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Name : |
Jai Pandya and Associates Chartered Accountant |
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Address : |
36, Strand Road, 3rd Floor, Room No.25, Kolkata-700028,
West Bengal, India |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4770520 |
Equity Shares |
Rs. 10/- each |
Rs. 47.705
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
47.705 |
47.705 |
47.705 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
179.952 |
171.682 |
165.437 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
227.657 |
219.387 |
213.142 |
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LOAN FUNDS |
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1] Secured Loans |
82.286 |
70.608 |
85.916 |
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2] Unsecured Loans |
1.260 |
0.470 |
1.436 |
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TOTAL BORROWING |
83.546 |
71.078 |
87.352 |
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DEFERRED TAX LIABILITIES |
2.592 |
2.565 |
0.000 |
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TOTAL |
313.795 |
293.030 |
300.494 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
244.635 |
242.621 |
251.415 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.262 |
1.767 |
1.495 |
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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 |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
54.818
|
51.889 |
53.733 |
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Cash & Bank Balances |
23.904
|
15.244 |
16.587 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
31.398
|
23.932 |
15.508 |
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Total
Current Assets |
110.120
|
91.065 |
85.828 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
35.721 |
38.442 |
32.832 |
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Other Current Liabilities |
0.000
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0.000 |
0.000 |
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Provisions |
5.501
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3.981 |
5.412 |
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Total
Current Liabilities |
41.222
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42.423 |
38.244 |
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Net Current Assets |
68.898
|
48.642 |
47.584 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
313.795 |
293.030 |
300.494 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.56
|
0.53 |
0.59 |
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Current Ratio (Current Asset/Current Liability) |
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2.67
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2.15 |
2.24 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDIOTRS
DETAILS
(Rs.
in millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors Others |
25.075 |
24.841 |
3.599 |
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Sundry Creditors Expenses |
10.646 |
13.609 |
29.233 |
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OPERATION
The company has
made a profit during the year after taxes. It is expected that the company will
show better result in the near future.
FORM 8
|
Corporate
identity number of the company |
U51109WB1988PTC044666 |
|
Name of the
company |
ROADWINGS INTERNATIONAL PVT LTD |
|
Address of the
registered office or of the principal place of business in |
8, Camac Street, Kolkata-700017, West Bengal, India |
|
This form is for |
Creation of
charge |
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Type of charge |
Movable property
(not being pledge) |
|
Particular of
charge holder |
SREI Equipment Finance Private Limited, Vishwakarma, 86C, Topsia Road,
Kolkata-700046, West Bengal, India |
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Nature of
instrument creating charge |
Deed of
hypothecation |
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Date of
instrument Creating the charge |
01.01.2011 |
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Amount secured by
the charge |
Rs. 10.772
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 13% p.a. Terms of repayment Amount repayable in 34 nos. monthly installment of
Rs.384.550 millions each. Margin Rs. 1.200
millions Extent and operation of the charge As per deed of
hypothecation. |
|
Short particulars
of the property charged (Including location of the property) |
8 Nos. Eicher Tractor.(Within India). |
FIXED ASSETS
ü Office Equipment
ü Land and Premises
ü Heavy Vehicles
ü Light Vehicles
ü Heavy Reach
Stracker and Crane
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.44.04 |
|
|
1 |
Rs.72.19 |
|
Euro |
1 |
Rs.63.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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 |
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 |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.