MIRA
INFORM REPORT
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Report Date : |
25.02.2011 |
IDENTIFICATION DETAILS
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Name : |
KARNI RETAILS PRIVATE LIMITED (w.e.f.12.06.2009) |
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Formerly Known
As : |
KARNI KRUPA INFRA SERVICES PRIVATE LIMITED |
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Registered
Office : |
14-2186/4, Ground Floor, Sri Colony, Shahinayat Gunj, Begum Bazar,
Hyderabad-500012, Andhra Pradesh. |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
17.10.2007 |
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Com. Reg. No.: |
11-055967 |
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CIN No.: [Company Identification
No.] |
U52300AP2007PTC055967 |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Distributor of cellur phones, electronic items. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (13) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
No Business Activity |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
As per available details, the company has not engaged in any business
activity in current year i.e. 2009-2010. Payment terms are not known. Initially, the company can be considered for business dealings on a
secured 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. Amit Sarda |
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Designation : |
Director |
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Contact No.: |
91-9885140005 |
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Date : |
24.02.2011 |
LOCATIONS
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Registered Office : |
D. No.14-2186/4, Ground Floor, Sri Colony, Shahinayat Gunj, Begum Bazar,
Hyderabad-500012, Andhra Pradesh, India |
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Tel. No.: |
91-40-64581914 |
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Mobile No.: |
91-9885140005 (Mr. Amit Sarda) |
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E-Mail : |
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Area : |
400Sq.ft. (Approximately) |
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Location : |
Owned |
DIRECTORS
As On : 28.09.2010
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Name : |
Mr. Amit Kumar Sarda |
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Designation : |
Director |
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Address : |
14-2-186/4, Shahinayat Gunj, Hyderabad-500012, Andhra Pradesh, India |
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Date of Birth/Age : |
23.09.1977 |
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Date of Appointment : |
17.10.2007 |
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DIN No : |
00325925 |
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Name : |
Ms. Radhika Sarda |
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Designation : |
Director |
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Address : |
14-2-186/4, Shahinayat Gunj, Hyderabad-500012, Andhra Pradesh, India |
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Date of Birth/Age : |
05.07.1979 |
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Date of Appointment : |
17.10.2007 |
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DIN No : |
00325959 |
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Name : |
Ms. Archana sarda |
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Designation : |
Director |
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Address : |
14-2-186/4, Shahinayat Gunj, Hyderabad-500012, Andhra Pradesh, India |
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Date of Birth/Age : |
14.07.1976 |
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Date of Appointment : |
17.10.2007 |
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DIN No : |
00326734 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2010
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Names of Shareholders |
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No. of Shares |
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Mr. Amit Kumar Sarda |
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10000 |
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Ms. Radhika Sarda |
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10000 |
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Ms. Archana sarda |
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10000 |
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Total |
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30000 |
AS ON 28.09.2010
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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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100.000 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Distributor of cellur phones, electronic items. |
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Terms : |
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Selling : |
Cash, Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Cash, Credit (30 days / 60 days / 90 days) |
GENERAL INFORMATION
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Customers : |
ü End Users ü OEM’s |
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No. of Employees : |
10 (Approximately) |
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Bankers : |
Ř The A. P. Mahesh
Co-operative Urban Bank Limited, Begum Bazar Branch, Hyderabad, Andhra
Pradesh, Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
OP Bang and Company Chartered Accountant |
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Address : |
3-5-363, 102, Laxmi Arcade, Vittal Wadi X Road, Hyderabad-500029,
Andhra Pradesh, India |
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Sister Concern : |
Ř Sri Karni Marketing
Associates Address : D. No.14-2186/4, Ground Floor, Sri Colony, Shahinayat Gunj,
Begum Bazar, Hyderabad-500012, Andhra Pradesh, India Line of Business : Dealer of Cemant Ř Sri Karni Cement
Agencies Address : D. No.14-2186/4, Ground Floor, Sri Colony, Shahinayat Gunj,
Begum Bazar, Hyderabad-500012, Andhra Pradesh, India Line of Business : Dealer of Cement. Ř Sri Karni Cement
Shoppe |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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30000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.300
million |
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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 |
0.300 |
0.300 |
0.300 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.002 |
0.000 |
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4] (Accumulated Losses) |
(0.010) |
0.000 |
(0.012) |
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NETWORTH |
0.290 |
0.302 |
0.288 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.750 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.750 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1.040 |
0.302 |
0.288 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.734 |
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 |
0.000 |
0.000 |
0.000 |
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Sundry Debtors |
0.000 |
0.000 |
0.000 |
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Cash & Bank Balances |
0.030
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0.034 |
0.017 |
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Other Current Assets |
0.041
|
0.003 |
0.000 |
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Loans & Advances |
0.240
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0.260 |
0.250 |
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Total
Current Assets |
0.311
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0.297 |
0.267 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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Other Current Liabilities |
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Provisions |
0.000
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0.002 |
0.000 |
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Total
Current Liabilities |
0.005
|
0.015 |
0.005 |
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Net Current Assets |
0.306
|
0.282 |
0.262 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.020 |
0.026 |
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TOTAL |
1.040 |
0.302 |
0.288 |
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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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TURN OVER |
0.000 |
4.959 |
0.000 |
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NET PROFIT / (LOSS) |
(0.012) |
0.015 |
(0.012) |
KEY RATIOS
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(3.86)
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5.05 |
(4.49) |
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Return on Investment (ROI) (PBT/Networth) |
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(0.04)
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0.05 |
(0.04) |
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Debt Equity Ratio (Total Liability/Networth) |
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2.60
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0.98 |
0.93 |
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Current Ratio (Current Asset/Current Liability) |
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62.20
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19.80 |
53.40 |
LOCAL AGENCY FURTHER INFORMATION
Notes : Sundry Creditors
Details are not available.
OPERATIONS
The company could not do any business during the year and expects a
reasonable working in coming year.
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 exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or investigation
registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.37 |
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|
1 |
Rs.73.54 |
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Euro |
1 |
Rs.62.39 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
1 |
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--PROFITABILIRY |
1~10 |
1 |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
1 |
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--RESERVES |
1~10 |
-- |
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--CREDIT LINES |
1~10 |
1 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
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13 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
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.