MIRA
INFORM REPORT
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Report Date : |
23.04.2011 |
IDENTIFICATION DETAILS
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Name : |
KRAYCOL STATIONERY PRIVATE LIMITED |
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Registered
Office : |
1, p. p. Industrial Estate, Deepanjali Nagar, Link
Road, Off Mysore Road, Bangalore – 560026, Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
18.04.2002 |
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Com. Reg. No.: |
030382 |
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CIN No.: [Company Identification
No.] |
U24242KA2002PTC030382 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRK03750F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Crayons. |
RATING & COMMENTS
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MIRA’s Rating : |
B (32) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 10884 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Trade
relations are fair. Business is active. Payments are reported to be slow but
correct. The company can be considered 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 (General Details)
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Name : |
Mr. Nandkishore |
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Designation : |
Director |
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Date : |
20.04.2011 |
LOCATIONS
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Registered Office : |
1, p. p. Industrial Estate, Deepanjali Nagar,
Link Road, Off Mysore Road, Bangalore – 560026, Karnataka, India. |
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Tel. No.: |
91-80-26745617 |
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Mobile No.: |
91-9341254991 (Mr. Nandkishore) |
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Fax No.: |
91-80-26745742 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Factory : |
No.38/7-24, II Floor, Vasavi Chambers, Annex D, |
DIRECTORS
As On : 30.09.2010
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Name : |
Mr. S. Nandakishore |
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Designation : |
Director |
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Address : |
No.46/41, 12th Main, Padmanabha Nagar, |
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Date of Birth/Age : |
30.12.1959 |
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Date of Appointment : |
18.04.2002 |
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Name : |
Ms. S. N. Lakshmi |
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Designation : |
Director |
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Address : |
No.46/41, 12th Main, Padmanabha Nagar, |
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Date of Birth/Age : |
09.05.1969 |
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Date of Appointment : |
18.04.2002 |
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Name : |
Mr. A. S. Somashekara Reddy |
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Designation : |
Director |
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Address : |
No.46/41, 12th Main, Padmanabha Nagar, |
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Date of Birth/Age : |
04.04.1963 |
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Date of Appointment : |
29.09.2003 |
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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Mr. S. Nandakishore |
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80000 |
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Ms. S. N. Lakshmi |
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107500 |
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Mr. A. S. Somashekara Reddy |
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12500 |
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Mr. C. M. Narasimha Reddy |
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100 |
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Mr. B. N. Gupta |
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100 |
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Mr. Sudha B. Gupta |
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100 |
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Mr. S. Siddaraju |
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100 |
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Mr. S. Siddaraju HUF |
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100 |
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Mr. Pravin Prabhudas Sanghavi |
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5000 |
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Total |
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205500 |
As On 30.09.2010
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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 : |
Manufacturer of Crayons. |
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Products : |
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Brand Names : |
· Polo · Kraycol |
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Terms : |
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Selling : |
Cash, Credit (30, 60, 90 days) |
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Purchasing : |
Cash, Credit (30, 60, 90 days) |
GENERAL INFORMATION
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Suppliers : |
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No. of Employees : |
20 |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vijay Sreeram and Company Chartered Accountant |
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Address : |
25, Second Floor, Manibasappa Buildings, |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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205500 |
Equity Shares |
Rs.10/- each |
Rs.2.055
Millions |
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 |
2.055 |
2.055 |
2.055 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.666 |
0.939 |
0.667 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.721 |
2.994 |
2.722 |
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LOAN FUNDS |
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1] Secured Loans |
4.135 |
4.138 |
4.134 |
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2] Unsecured Loans |
4.661 |
3.475 |
4.661 |
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TOTAL BORROWING |
8.796 |
7.613 |
8.795 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
11.517 |
10.607 |
11.517 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.928 |
2.814 |
2.928 |
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Trade Marks |
0.140 |
0.120 |
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Capital work-in-progress |
0.000 |
0.000 |
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 |
5.347 |
5.428 |
5.347 |
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Sundry Debtors |
6.389 |
4.994 |
6.389 |
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Cash & Bank Balances |
0.046 |
0.182 |
0.046 |
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Other Current Assets |
0.000 |
0.000 |
0.016 |
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Loans & Advances |
0.392 |
0.377 |
0.376 |
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Total
Current Assets |
12.174
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10.981 |
12.174 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
2.995 |
2.656 |
2.995 |
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Other Current Liabilities |
0.120
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0.000 |
0.000 |
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Provisions |
0.636 |
0.672 |
0.756 |
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Total
Current Liabilities |
3.751
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3.328 |
3.751 |
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Net Current Assets |
8.423
|
7.653 |
8.423 |
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MISCELLANEOUS EXPENSES |
0.026 |
0.020 |
0.026 |
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TOTAL |
11.517 |
10.607 |
11.517 |
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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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Turnover |
32.897 |
26.679 |
24.656 |
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Less |
EXPENSES |
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TOTAL |
NA |
26.240 |
24.318 |
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PROFIT BEFORE
TAX |
NA |
0.439 |
0.338 |
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Less |
TAX |
NA |
0.136 |
0.104 |
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PROFIT AFTER TAX
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5.582 |
0.303 |
0.234 |
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Earnings Per
Share (Rs.) |
27.16 |
1.48 |
-- |
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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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Net Profit Margin (PBT/Sales) |
(%) |
NA
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1.65 |
1.37 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
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3.15 |
2.22 |
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Return on Investment (ROI) (PBT/Networth) |
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NA
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0.15 |
0.12 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.61
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3.65 |
4.60 |
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Current Ratio (Current Asset/Current Liability) |
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3.24
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3.29 |
3.25 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The Register office address has been shifted from No 38/7-24, II
Floorvasavi Chambers, Annex D,
Form 8:
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Corporate
identity number of the company |
U24242KA2002PTC030382 |
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Name of the
company |
KRAYCOL
STATIONERY PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
1, p. p. Industrial Estate, Deepanjali Nagar,
Link Road, Off Mysore Road, Bangalore – 560026, Karnataka |
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This form is for |
Modification of
Charge |
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Type of charge |
· Book Debts · Floating Charge · Movable Property (not being pledge) · Patent, License under a patent |
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Particular of
charge holder |
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Nature of
instrument creating charge |
Agreement of
Hypothecation of Goods, Book-debts and Other Movable Assets to Secure
Multiple Facilities |
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Date of
instrument Creating the charge |
23.02.2008 |
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Amount secured by
the charge |
Rs. 5.268
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest: 13.75% p.a Terms of repayment: CC - Running
account repayable on demand Other limits - As
per existing terms Margin: CC - Stocks 25% Extent and Operation of the charge: The charge
operate to the extent of Rs.5.268 millions plus interest, commission, costs,
expenses and other charges thereon Others: The said amount of
Rs.5.268 millions comprises CC Rs.4 millions (enhanced from Rs.2.500
millions); TL Rs. 0.068 million, TL Rs.0.500 millions; LC Rs.0.700 million
continued at existing level. |
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Short particulars
of the property charged (Including location of the property) |
Hypothecation by
way of first charge on all the stocks of raw materials, goods in process and
finished goods, all tangible movable properties including plant, machinery,
tools and accessories, furniture, articles, office equipments, computers and
other things stored/installed at NO.1, P.P. Industrial Estate, Deepanjali
Nagar, Link Road, Off Mysore Road, Bangalore 560026 or wherever else and
present and future book-debts, outstanding moneys, receivables, claims,
bills, etc. |
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Name of the company |
KRAYCOL STATIONERY PRIVATE LIMITED |
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Presented By |
KRAYCOL STATIONERY PRIVATE LIMITED And Dena Bank, |
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1) Date and description of instrument creating the change |
29.09.2003 Agreement of
Hypothecation (Goods, Book Debts, and Other Movable Assets to Secure Multiple
Facilities) |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.2.000 Millions Cash Credit
(Hypothecation) Rs.1.400 Millions Terms Loan
(Machinery) Rs.0.600 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All stock of raw
materials, goods in process and finished goods such as crayons, wax and
packing materials, etc., consumable stores and spares, packing materials
etc., both present and future; All the tangible
movable property and assets of the borrower of whatsoever nature including
plant, machinery, tools and accessories, stores spares relating to plant and
machinery, fixture, articles, office equipment, computers, and things
belonging to the borrower and lying and being at theirs belonging to the borrower
and lying and being at their premises at Bangalore, being movable properties
and cable of passing by delivery, both present and future; All the present
and future Book debts, outstanding, moneys, receivables, claims, bills rights
for or in movable properties and movable assets. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interests
@13% p.a. Margin – 25% p.a. |
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5) Name and Address and description of the person entitled to the charge. |
Dena Bank |
Fixed assets:
· Computer
· Electrical Equipment
· Liquid Filling Machine
· Printer Hp
· Office Equipments
· Kinetic Style
· Matador
· Fire Extinguisher
· Three Wheeler Auto
· Solar Systems
· Plant and Machinery
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.44.30 |
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|
1 |
Rs.72.92 |
|
Euro |
1 |
Rs.64.69 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
2 |
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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 |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
32 |
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.