MIRA INFORM REPORT
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Report Date : |
20.04.2011 |
IDENTIFICATION DETAILS
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Name : |
A.B. SEALS AND HYDRAULICS PRIVATE LIMITED |
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Registered
Office : |
496, Rabindra Sarani, Kolkata-700005, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
24.09.1991 |
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Com. Reg. No.: |
21-053142 |
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CIN No.: [Company Identification No.] |
U25201WB1991PTC053142 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of wide range of back up rings, buffer seals,
fitting accessories, guide rings, piston seals, rod seals, scissor lift
tables, wiper seals, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (44) |
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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 9000 |
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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 an established company having satisfactory track. Trade
relations are 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. |
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 PARTED BY
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Name : |
Mr. Soumen Ghosh |
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Designation : |
Director |
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Contact No.: |
91-9331412105 |
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Date : |
16.04.2011 |
LOCATIONS
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Registered Office : |
496, Rabindra Sarani, Kolkata-700005, West |
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Tel. No.: |
91-33-25541271 / 25543745 |
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Mobile No.: |
91-9331412105 (Mr. Soumen Ghosh) |
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Fax No.: |
91-33-25337663 |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Factory : |
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Area : |
Owned |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Anup Kumar Ghosh |
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Designation : |
Director |
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Address : |
496, Rabindra Sarani, Kolkata-700005, West |
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Date of Birth/Age : |
17.10.1953 |
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Date of Appointment : |
30.09.2007 |
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Election Commission Identity Card No.: |
WB/17/111/168053 |
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Name : |
Mr. Soumen Ghosh |
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Designation : |
Director |
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Address : |
496, Rabindra Sarani, Kolkata-700005, West |
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Date of Birth/Age : |
10.07.1985 |
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Date of Appointment : |
20.09.2007 |
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Name : |
Ms. Soma Ghosh |
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Designation : |
Director |
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Address : |
496, Rabindra Sarani, Kolkata-700005, West |
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Date of Birth/Age : |
28.04.1989 |
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Date of Appointment : |
18.08.2008 |
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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Anup Kumar Ghosh |
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4305 |
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Sheela Ghosh |
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1050 |
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Soumen Ghosh |
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100 |
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Soma Ghosh |
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100 |
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Total |
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5555 |
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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Directors
or relatives of directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Supplier of wide range of back up rings, buffer
seals, fitting accessories, guide rings, piston seals, rod seals, scissor
lift tables, wiper seals, etc. |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
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Supplies: |
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Customers: |
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No. of Employees : |
40 (Approximately) |
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Bankers : |
State Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
A. Samanta and Company Chartered Accountant |
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Address : |
62/7/1, Kantapukur, 3rd Bye Lane, Howrah-711101, West |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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5555 |
Equity Shares |
Rs.100/- each |
Rs.0.555
Million |
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 |
0.555 |
0.555 |
0.545 |
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2] Share Application Money |
0.375 |
0.375 |
0.160 |
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3] Reserves & Surplus |
1.399 |
1.289 |
1.188 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.329 |
2.219 |
1.893 |
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LOAN FUNDS |
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1] Secured Loans |
1.526 |
2.456 |
1.290 |
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2] Unsecured Loans |
0.565 |
0.670 |
1.075 |
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TOTAL BORROWING |
2.091 |
3.126 |
2.365 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
4.420 |
5.345 |
4.258 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.254 |
1.373 |
0.894 |
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Capital work-in-progress |
2.237 |
2.237 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
0.656
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1.219 |
1.200 |
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Sundry Debtors |
1.096
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1.378 |
1.970 |
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Cash & Bank Balances |
0.098
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0.083 |
0.088 |
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Other Current Assets |
0.071
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0.087 |
0.102 |
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Loans & Advances |
0.150
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0.447 |
0.892 |
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Total
Current Assets |
2.071
|
3.214 |
4.252 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
1.091
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1.121 |
0.580 |
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Other Current Liabilities |
0.000
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0.000 |
0.000 |
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Provisions |
0.051
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0.358 |
0.308 |
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Total
Current Liabilities |
1.142
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1.479 |
0.888 |
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Net Current Assets |
0.929
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1.735 |
3.364 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
4.420 |
5.345 |
4.258 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
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Other Income |
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TOTAL |
3.219 |
3.874 |
4.861 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
3.058 |
3.706 |
4.522 |
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Advertising Expenses |
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TOTAL |
3.058 |
3.706 |
4.522 |
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PROFIT BEFORE
TAX |
0.161 |
0.168 |
0.339 |
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Less |
TAX |
0.051 |
0.067 |
0.122 |
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PROFIT AFTER TAX
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0.110 |
0.101 |
0.217 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.289 |
1.188 |
NA |
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BALANCE CARRIED
TO THE B/S |
1.399 |
1.289 |
NA |
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Earnings Per
Share (Rs.) |
29.57 |
30.29 |
39.86 |
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KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
3.42
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2.61 |
4.46 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.84
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3.66 |
6.59 |
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Return on Investment (ROI) (PBT/Networth) |
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0.07
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0.07 |
0.18 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.39
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2.07 |
1.72 |
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Current Ratio (Current Asset/Current Liability) |
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1.81
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2.17 |
4.79 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
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Corporate identity
number of the company |
U25201WB1991PTC053142 |
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Name of the
company |
A.B. SEALS AND HYDRAULICS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
496, Rabindra Sarani, Kolkata-700005, West |
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Type of charge |
Book Debts Movable Property
(not being pledge) Floating Charge |
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Particular of
charge holder |
State Bank of |
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Email |
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Nature of
description of the instrument creating or modifying the charge |
Agreement of loan
cum hypothecation |
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Date of
instrument Creating the charge |
18.11.2010 |
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Amount secured by
the charge |
Rs.0.400 million |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest For cash credit @
11.75% p.a. with monthly rests. Terms of
Repayment The borrowings
are repayable on demand. There is no term
loan in the credit facility and as such no terms of repayment are stated. The
loan is for cash credit only which is repayable on demand according to
banking norms. Margin 20% of finished
goods and 40% of domestic
receivable Extent and
Operation of the charge First charge on
the whole of the hypothecated assets as a continuing security. |
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Short particulars
of the property charged |
I)
All present
and future stocks, raw material, goods, book debts and all other movable
assets of the borrower including receivable, documents of title of goods,
outstanding monies, bills. II)
Invoices
documents contracts, insurances policies, guarantees, engagements,
securities, investments and rights and the present plant and machinery and
future machinery by way of first charge. |
Fixed Assets:
- Goodwill
- Land
- Plant and
Machinery
- Motor
- Tools and
Implements
- Water Pump
- Electric
Installation
- Electric Fan
- Air Conditioner
Machine
- Cycle
- Generator
- Furniture and
Fixtures
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.44.68 |
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|
1 |
Rs.72.56 |
|
Euro |
1 |
Rs.63.53 |
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 |
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 |
4 |
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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 |
|
44 |
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.