MIRA
INFORM REPORT
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Report Date : |
24.12.2011 |
IDENTIFICATION DETAILS
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Name : |
ROYAL SURGICARE PRIVATE LIMITED |
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Registered
Office : |
Bunglow No. 16, Shaligram – 3, Near Sangini Bunglows, Thaltej,
Ahmedabad – 380015, Gujarat |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
10.08.2006 |
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Com. Reg. No.: |
04-048890 |
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Capital
Investment / Paid-up Capital : |
Rs.1.500 Millions |
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CIN No.: [Company Identification
No.] |
U33112GJ2006PTC048890 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMR04151A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Medical Disposable Products. |
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No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 20000 |
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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 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. |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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. Nilesh |
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Designation : |
Marketing Manager |
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Contact No.: |
91-9898019292 |
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Date : |
13.12.2011 |
LOCATIONS
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Registered Office : |
Bunglow No. 16, Shaligram – 3, Near Sangini Bunglows, Thaltej,
Ahmedabad – 380015, Gujarat, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Corporate
Office/ Factory : |
Plot No. 832, Near Ganesh Rubber, Prime Automization Gali, Santej –
382721, Gujarat, India |
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Tel. No.: |
91-79-65137863 |
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Mobile No.: |
91-9898019292 (Marketing Manager) |
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Fax No.: |
Not Available |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
As on 27.09.2011
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Name : |
Ms. Kalpanaben Pareshkumar Patel |
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Designation : |
Director |
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Address : |
19, Nilkanth Bunglows, Opposite Suryoday Bunglows, Near Gulab Tower,
Thaltej, Ahmedabad – 380054, Gujarat, India |
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Date of Birth/Age : |
16.08.1971 |
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Date of Appointment : |
10.08.2006 |
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DIN No.: |
01552075 |
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Name : |
Mr. Pareshkumar Jayantilal Patel |
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Designation : |
Director |
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Address : |
19, Nilkanth Bunglows, Opposite Suryoday Bunglows, Near Gulab Tower,
Thaltej, Ahmedabad – 380054, Gujarat, India |
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Date of Birth/Age : |
18.07.1968 |
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Date of Appointment : |
10.08.2006 |
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DIN No.: |
01552099 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Nilesh |
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Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2011
|
Names of Shareholders |
No. of Shares |
|
Jayantilal Prahladdas Patel |
76700 |
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Kalpanaben Pareshkumar Patel |
73300 |
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Total |
150000 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2011
|
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 and Exporter of Medical Disposable Products. |
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Exports : |
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Products : |
Medical Disposable Products |
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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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Customers : |
End Users |
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No. of Employees : |
80 (Approximately) |
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Bankers : |
Bank of Baroda, Sola Road Branch |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Lakhani Ismaili Tundiya and Company Chartered Accountants |
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Address : |
911-912-9133, Span Trade Centre, Opposite Kochrab Ashram, Ashram Road,
Ahmedabad – 380007, Gujarat, India |
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Tel. No.: |
91-79-26578781/ 26578785/ 40092010 |
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E-Mail : |
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PAN.: |
AABFL1713G |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.500 |
1.500 |
1.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
5.976 |
4.188 |
2.678 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
7.476 |
5.688 |
4.178 |
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LOAN FUNDS |
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1] Secured Loans |
2.720 |
2.458 |
3.640 |
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2] Unsecured Loans |
5.910 |
3.966 |
1.016 |
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TOTAL BORROWING |
8.630 |
6.424 |
4.656 |
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DEFERRED TAX LIABILITIES |
0.105 |
0.148 |
0.175 |
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TOTAL |
16.211 |
12.260 |
9.009 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
8.994 |
8.801 |
7.353 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.012 |
0.012 |
0.012 |
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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 |
5.438
|
3.320 |
1.144 |
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Sundry Debtors |
8.003
|
5.572 |
6.656 |
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Cash & Bank Balances |
0.336
|
0.955 |
0.022 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
2.812
|
1.757 |
0.801 |
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Total
Current Assets |
16.589
|
11.604 |
8.623 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
5.864
|
6.494 |
6.327 |
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Other Current Liabilities |
0.000
|
0.000 |
0.000 |
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Provisions |
3.571
|
1.723 |
0.722 |
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Total
Current Liabilities |
9.435
|
8.217 |
7.049 |
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Net Current Assets |
7.154
|
3.387 |
1.574 |
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MISCELLANEOUS EXPENSES |
0.051 |
0.060 |
0.070 |
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TOTAL |
16.211 |
12.260 |
9.009 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES
TURNOVER (APPROXIMATELY) |
70.000 |
65.000 |
NA |
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PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
4.844 |
3.735 |
3.723 |
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Less |
FINANCIAL
EXPENSES |
0.871 |
0.447 |
0.661 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.973 |
3.288 |
3.062 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
1.379 |
1.129 |
1.141 |
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PROFIT BEFORE
TAX |
2.594 |
2.159 |
1.921 |
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Less |
TAX |
0.806 |
0.649 |
0.663 |
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PROFIT AFTER TAX
|
1.788 |
1.510 |
1.258 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4.188 |
2.678 |
1.420 |
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BALANCE CARRIED
TO THE B/S |
5.976 |
4.188 |
2.678 |
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Earnings Per
Share (Rs.) |
11.92 |
10.06 |
8.39 |
Expected Sales (2011-12): Rs.100.000 Millions
The above information has been parted by Mr. Nilesh.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.14
|
10.58 |
12.02 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.37 |
0.45 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.42
|
2.57 |
2.80 |
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Current Ratio (Current Asset/Current Liability) |
|
1.76
|
1.41 |
1.22 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter’s background |
-- |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last two years |
Yes |
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12) Profitability for last three years |
-- |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
Yes |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
Yes |
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21) Market information |
-- |
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22) Litigations that the firm / promoter |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
No |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
No |
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28) Incorporation details, if applicable |
-- |
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29) Last accounts filed at ROC |
-- |
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30) Major Shareholders, if available |
-- |
FORM 8
|
Corporate
identity number of the company |
U33112GJ2006PTC048890 |
|
Name of the
company |
ROYAL SURGICARE
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Bunglow No-16,
Shaligram-3, Near Sangini Bunglows, Thaltej, Ahmedabad – 380015, Gujarat,
India Email Id : shahtaxservices@yahoo.co.in |
|
This form is for |
Modification
of charge |
|
Charge identification
(ID) number of the charge to be modified |
10054076 |
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Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Stocks,
Machineries |
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Particular of
charge holder |
Bank of Baroda,
Sola Road Branch- A.P.M. Shopping Mall, Opposite Sun-N- Step Club, Sola Road,
Ahmedabad – 380061, Gujarat, India Email Id : solahm@bankofbaroda.com |
|
Nature of
instrument creating charge |
1) Instrument of
extention relating to deposit of title deeds 2)Supplemental
composite instrument of hypothecation of goods, book-debts, movable machinery
and vehicles |
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Date of
instrument Creating the charge |
07.06.2011 |
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Amount secured by
the charge |
Rs.5.728 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 2.65%above base
rate, i.e.,12.65% p.a. at present at monthly rests Terms of
repayment As per existing
repayment schedule Margin 1) 25% on
machinery and equipments 2) 25% on raw
materials, SIP, finished goods, stores and spares and packing materials, 25%
on book-debts Extent and
operation of the charge First and
exclusive charge of the bank |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All that
immovable property being non agriculture land admeasuring in aggregate about
1500 sq.yds. forming part of Block No832/PAIKI/1 situated lying and being at Moujesantej, and Taluka and Registration Sub District
Kalol and District Gandhinagar Hypothecation of
stock, book debts and machineries |
|
Date of
instrument modifying the charge |
24.02.2010 |
|
Particulars of
the present modification |
The bank has increased
financial facilities upto Rs.5.728 Millions (comprising of cash credit
facility Rs.5.000 Millions, term loan-I Rs.0.079 Millions and term loan -II
Rs.0.649 Millions) |
FIXED ASSETS
·
Air Compressor
·
Air Conditioner
·
Computer
·
Vehicles
·
Buildings
·
Machinery
·
Laptop
·
Office Equipment
·
Plant and Machinery
·
Laboratory Instrument
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.52.72 |
|
|
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.68.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.