MIRA
INFORM REPORT
|
Report Date : |
24.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
VISPA |
|
|
|
|
Registered
Office : |
10 – Thiru Nagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
10.04.1994 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAFV2603G |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Textiles Madeups. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established concern in its field. Its profitability is low.
Trade relations are reported as fair. The valuation report provided is of
lower value than the proposal amount. Networth statement however seems to be
satisfactory. It would be advisable to take adequate securities while dealing with
the subject. |
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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY (General Information)
|
Name : |
Mr. P. Muthumani |
|
Designation : |
Managing Partner |
|
Contact No.: |
91-9952547777 |
|
Date : |
01.02.2011 |
LOCATIONS
|
Registered Office/ Factory : |
10 – Thiru Nagar, Main Road, Kamarajapuram, Sengunthapuram, P.O. Karur
-639002, Tamilnadu, India |
|
Tel. No.: |
91-4324-236377 |
|
Mobile No.: |
91-9952547777 (Mr. P. Muthumani) |
|
E-Mail : |
|
|
Area : |
2700 sq. ft. |
|
Location : |
Rented |
PARTNERS
|
Name : |
Mr. V. Muthumani |
|
Designation : |
Partner |
|
Address : |
Periakulathupalayam, Verngamedu Post, Karur, |
|
Date of Birth/Age : |
02.06.1968 |
|
Qualification : |
M. Com |
|
Experience : |
20 years |
|
PAN No.: |
AGLPM5444K |
|
|
|
|
Name : |
Mr. P. Sivasamy |
|
Designation : |
Partner |
|
Address : |
Puthupalayam, Manmangalam Post, Karur, |
|
Date of Birth/Age : |
07.06.1969 |
|
Qualification : |
Under Graduate |
|
Experience : |
20 years |
|
PAN No.: |
BHIPS7083M |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Textiles Madeups. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30-60 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30-60 days) |
GENERAL INFORMATION
|
No. of Employees : |
15 (Office – 6 and Factory – 9) |
|
|
|
|
Bankers : |
· Corporation Bank Karur, |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. P. Hari Chartered Accountant |
|
Address : |
Kartur, |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.0.707 Million |
|
Borrowed : |
Rs.3.066 Millions |
|
Total : |
Rs.3.773
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.707 |
0.477 |
0.268 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
5] God’s A/c |
0.004 |
0.004 |
0.004 |
|
|
NETWORTH |
0.711 |
0.481 |
0.272 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.004 |
|
|
2] Unsecured Loans |
3.066 |
2.184 |
3.338 |
|
|
TOTAL BORROWING |
3.066 |
2.184 |
3.342 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.777 |
2.665 |
3.614 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.055 |
0.065 |
0.076 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2.196
|
0.784 |
3.432 |
|
|
Sundry Debtors |
5.741
|
6.809 |
2.545 |
|
|
Cash & Bank Balances |
0.606
|
0.150 |
2.950 |
|
|
Other Current Assets |
0.512
|
0.417 |
0.611 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
9.055
|
8.160 |
9.538 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
5.333
|
5.560 |
6.000 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
5.333
|
5.560 |
6.000 |
|
|
Net Current Assets |
3.722
|
2.600 |
3.538 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.777 |
2.665 |
3.614 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
22.300 |
22.948 |
21.310 |
|
|
|
Other Income |
0.051 |
0.122 |
0.032 |
|
|
|
TOTAL (A) |
22.351 |
23.070 |
21.342 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
11.871 |
12.400 |
9.833 |
|
|
|
Dyeing Charges |
4.068 |
4.291 |
4.022 |
|
|
|
Weaving Charges |
3.914 |
3.192 |
3.413 |
|
|
|
Daily wages |
0.264 |
0.587 |
0.371 |
|
|
|
Vehicles Maintenance and Petrol Expenses |
0.058 |
0.041 |
0.052 |
|
|
|
Travelling |
0.032 |
0.044 |
0.043 |
|
|
|
Telephone Charges |
0.050 |
0.065 |
0.091 |
|
|
|
Electricity Charges |
0.026 |
0.033 |
0.030 |
|
|
|
Salary |
0.222 |
0.199 |
0.133 |
|
|
|
Bonus |
0.034 |
0.024 |
0.012 |
|
|
|
Other Expenses |
1.112 |
1.534 |
2.318 |
|
|
|
TOTAL (B) |
21.651 |
22.410 |
20.318 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.700 |
0.660 |
1.024 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.623 |
0.599 |
0.977 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.077 |
0.061 |
0.047 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.023 |
0.027 |
0.023 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.054 |
0.034 |
0.024 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.24
|
0.15 |
0.11 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.24
|
0.15 |
0.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.59
|
0.41 |
0.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.07 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
11.81
|
16.10 |
34.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.70
|
1.47 |
1.59 |
LOCAL AGENCY FURTHER INFORMATION
PROJECTED
BALANCE SHEET
(RS. IN MILLIONS)
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2012 |
|
|
|
|
(Projected) |
||
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.849 |
1.066 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
5] God’s A/c |
|
0.004 |
0.004 |
|
|
NETWORTH |
|
0.853 |
1.070 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
1.500 |
1.500 |
|
|
2] Unsecured Loans |
|
3.200 |
3.750 |
|
|
TOTAL BORROWING |
|
4.700 |
5.250 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
5.553 |
6.320 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.055 |
0.055 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
4.000 |
5.000 |
|
|
Sundry Debtors |
|
6.535 |
6.697 |
|
|
Cash & Bank Balances |
|
0.225 |
0.325 |
|
|
Other Current Assets |
|
0.238 |
0.243 |
|
|
Loans & Advances |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
10.998 |
12.265 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
5.500 |
6.000 |
|
|
Other Current Liabilities |
|
0.000 |
0.000 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
5.500 |
6.000 |
|
|
Net Current Assets |
|
5.498 |
6.265 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
5.553 |
6.320 |
|
PROJECTED
PROFIT & LOSS ACCOUNT
(RS. IN MILLIONS)
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2012 |
|
|
|
|
|
(Projected) |
||
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
25.000 |
29.000 |
|
|
|
Other Income |
|
0.070 |
0.090 |
|
|
|
TOTAL (A) |
|
25.070 |
29.090 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
13.046 |
15.450 |
|
|
|
Dyeing Charges |
|
4.500 |
5.000 |
|
|
|
Weaving Charges |
|
4.350 |
4.750 |
|
|
|
Daily wages |
|
0.400 |
0.500 |
|
|
|
Vehicles Maintenance and Petrol Expenses |
|
0.070 |
0.080 |
|
|
|
Travelling |
|
0.050 |
0.060 |
|
|
|
Telephone Charges |
|
0.060 |
0.075 |
|
|
|
Electricity Charges |
|
0.034 |
0.039 |
|
|
|
Salary and Bonus |
|
0.300 |
0.350 |
|
|
|
Other Expenses |
|
1.410 |
1.811 |
|
|
|
TOTAL (B) |
|
24.220 |
28.115 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
0.850 |
0.975 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.750 |
0.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
0.100 |
0.175 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT (E-F) (G) |
|
0.100 |
0.175 |
|
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
NAME
OF THE APPLICANT: MR. P. SIVASAMY
NAME
OF THE CO-APPLICANT: MR. V. MUTHUMANI
(RS.
IN MILLIONS)
ASSETS
IMMOVABLE
PROPERTY
|
Address of the property with survey No./Door No. etc. |
-- |
Anandkovil East,
Vadivel Nagar |
|
|
|
|
|
Description: Land/ Site/ Building |
Land Building |
Land Land |
|
|
|
|
|
Whether Freehold/ Leasehold |
Freehold |
Freehold |
|
|
|
|
|
Commercial/ Residential/ Agricultural |
Residential |
Site |
|
|
|
|
|
Area/ extent of Land |
5 Acres |
5445 sq. ft. 5000 sq. ft. |
|
|
|
|
|
Present Market/
Assessed Value |
Rs.3.500 Millions |
Rs.15.700 Millions |
INVESTMENT
IN BUSINESS CAPITAL
|
Name of the Company/ firm/ concern in which investment is made |
Vispa Finance |
Vispa Yarns Vispa Traders Vispa Finance |
|
|
|
|
|
Present Value of
Investments |
1.300 |
2.000 |
LIFE
INSURANCE POLICY
|
Sum Assured |
0.400 |
1.850 |
|
|
|
|
|
Surrender Value |
0.200 |
0.750 |
OTHER
ASSETS
|
Cash In Hand |
0.050 |
0.100 |
|
|
|
|
|
Jewellery |
0.500 |
0.600 |
|
|
|
|
|
Other Assets |
0.200 |
0.300 |
|
|
|
|
|
Total Value of
Other Assets |
0.750 |
1.000 |
|
TOTAL ASSETS |
RS.5.750 MILLIONS |
Rs.19.450 MILLIONS |
LIABILITIES
FURNISH LOANS
AVAILED FROM BANKS/ FINANCIAL INSTITUTIONS AN OTHER BORROWINGS
|
Amount of Loan Availed |
0.500 |
1.500 |
|
|
|
|
|
Amount of
Outstanding (Total
Liabilities) |
Rs.0.500 Millions |
Rs.1.500 Million |
|
NET WORTH |
RS.5.250 MILLIONS |
RS.17.950 MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
NAME
OF THE APPLICANT: MR. P. SIVASAMY
NAME
OF THE GUARANTOR: V. PAPAYI
(RS.
IN MILLIONS)
ASSETS
IMMOVABLE
PROPERTY
|
Address of the property with survey No./Door No. etc. |
Naval Nagar |
|
|
|
|
Description: Land/ Site/ Building |
Land SF No.542 |
|
|
|
|
Whether Freehold/ Leasehold |
Freehold |
|
|
|
|
Area/ extent of Land |
3600 sq. ft. |
|
|
|
|
Present Market/
Assessed Value |
RS.1.980 MILLIONS |
INVESTMENT
IN BUSINESS CAPITAL
|
Name of the Company/ firm/ concern in which investment is made |
Vispa Finance |
|
|
|
|
Present Value of
Investments |
Rs.0.031 Million |
DEPOSIT
HELD WITH BANKS/ COMPANIES/ OTHER LENDER etc.
|
Name of the Bank/ company where deposits are held |
-- |
|
|
|
|
Nature of deposits |
Fixed Deposits |
|
|
|
|
Present Value of
Deposits |
Rs.0.200 Million |
OTHER
ASSETS
|
Cash In Hand |
0.100 |
|
|
|
|
Jewellery |
0.300 |
|
|
|
|
Total Value of
Other Assets |
Rs.0.400 Million |
|
TOTAL ASSETS |
Rs.2.611 MILLIONS |
|
NET WORTH |
Rs.2.611 MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
MONTHWISE SALES SUMMARY
FROM
01.04.2010 TO 31.12.2010
|
MONTHS |
SALES (RS. IN MILLIONS) |
|
|
|
|
April |
0.437 |
|
May |
3.061 |
|
June |
1.647 |
|
July |
0.455 |
|
August |
3.146 |
|
September |
0.683 |
|
October |
0.955 |
|
November |
0.145 |
|
December |
1.733 |
|
|
|
|
TOTAL |
12.262 |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
(GENERAL
INFORMATION)
|
This valuation is undertaken based upon the request from |
The Branch Manager, The Corporation Bank Limited, Karur |
|
|
|
|
|
|
Name of the reported owner and address |
Mrs. V. Pappayee, W/o. (Late). Mr. K. Vishvanathan. Perivakulathupalayam. Karur Tk. and Dt. |
|
|
|
|
|
|
Purpose of Valuation |
To estimate the present market value |
|
|
|
|
|
|
Date of Valuation |
20.11.2010 |
|
|
|
|
|
|
Brief Description of the property |
It is a Vacant land. |
|
|
|
|
|
|
List of documents produced for perusal |
Dct. No.8791/ 2010, Date: 17.09.2010 |
|
|
|
|
|
|
DESCRIPTION OF
PROPERTY |
||
|
Location of the Property Plot No./Colony Name S.F No./ T.S No./R.S No. Village/Block/Panchayat Taluk/ Ward District/ Municipality |
Plot No.334 and 333/ West Part, Naval Nagar, S.F.No.542/5, Karur TK Karur Dt. |
|
|
|
|
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Postal address of the properly |
Plot No.334 and 333/ West Part, Naval Nagar, S.F.No.542/5, |
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Boundaries of the Property |
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North South East West |
Plot No.339 and 340 30’ East - Plot No.333/ East Part, Plot No.335. |
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Property Occupied by |
Owner |
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PART A – LAND |
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Size of the Plot
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As per |
As per Actual (b) |
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Plot No.334 and 333 West Part |
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North |
60’0” |
60’0” |
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South |
60’0” |
60’0” |
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East |
60’0” |
60’0” |
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West |
60’0” |
60’0” |
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Total extent of the Land Considered for Valuation |
3600 sq. ft. |
3600 sq. ft. |
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Characteristics
of the site: |
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Character of Locality |
Residential Area |
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Classification |
Middle Class |
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Development of the surrounding areas |
Under development |
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Feasibility to the civic amenities like
Schools, Hospitals, Offices, Markets, etc. |
Moderate Distance. |
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Level of land with topographical
conditions |
Level |
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Shape of land |
Square |
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Type of use to which it can be put |
Vacant plot. |
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Weather lease hold / Free hold |
Freehold |
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Road facilities |
Available |
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Water Potentialities |
Available |
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Under ground sewerage system |
Not Available |
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Commercial potentiality of the property |
Bright |
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Guide line rate |
Rs.200/- sq. ft. |
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Guide line value of the land : 3600 ft x Rs.200/- |
Rs.7,20,000/- |
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Prevailing market rate |
Rs.575/- sq. ft. |
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Adopted Rate of Valuation |
Rs.550/- sq. ft. |
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Estimated Value of the Land 3600 sq. ft. x Rs.550/- |
Rs.1.980 Millions |
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TRADE REFERENCE:
· Texnora
Address: 9, Thirunagar, First Cross, Kamarajapuram North, Karur
– 639002,
Telephone No.: 91-4324-232861/ 235627
· Abhishek Exports
Address: 100,
Telephone No.: 91-4324-261455
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.45.20 |
|
|
1 |
Rs.73.07 |
|
Euro |
1 |
Rs.61.41 |
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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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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<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.