MIRA
INFORM REPORT
|
Report Date : |
04.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
SUNBORNE ENERGY TECHNOLOGIES PRIVATE LIMITED |
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Registered
Office : |
FM House, 25, HUDA Residential Complex, Road No.2, Banjara Hills, |
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Country : |
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Financials (as
on) : |
31.12.2009 |
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Date of
Incorporation : |
31.10.2008 |
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Com. Reg. No.: |
01-061627 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U72900AP2008PTC061627 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDS23800A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Independent Power Producers and Energy Traders |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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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 : |
Yet to Commence Business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
As per last available financials, the company has not commence to
commercial operations till December, 2009. Payment terms are unknown. 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 |
LOCATIONS
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Registered Office : |
FM House, 25, HUDA Residential Complex, Road No.2, Banjara Hills, |
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E-Mail : |
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Website : |
DIRECTORS
As on 26.04.2010
|
Name : |
Mr. Anil Nayar |
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Designation : |
Additional Director |
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Address : |
LCG 0105A, The Laburnium, Gurgaon – 122002, |
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Date of Birth/Age : |
26.05.1965 |
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Date of Appointment : |
22.05.2009 |
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DIN : |
01997052 |
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Name : |
Mr. James Varghese Abraham |
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Designation : |
Additional Director |
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Address : |
LCG – 3, Laburnium Apartment, Sushant Lok, Sector – 28, Gurgaon –
122002, |
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Date of Birth/Age : |
14.12.1964 |
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Date of Appointment : |
22.05.2009 |
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DIN : |
02559000 |
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Name : |
Mr. Aseem Sharma |
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Father’s Name : |
Bhupendra Narain Sharma |
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Designation : |
Additional Director |
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Address : |
D – 1/48, Vasant Vihar, |
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Date of Birth/Age : |
24.09.1963 |
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Date of Appointment : |
01.05.2009 |
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Date of Cessation : |
30.11.2010 |
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DIN : |
02237398 |
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Name : |
Mr. Ravi Bishnoi |
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Father’s Name : |
Hetram Bishnoi |
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Designation : |
Director |
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Address : |
A-9, Sector – 9, NOida – 201301, |
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Date of Birth/Age : |
24.08.1971 |
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Date of Appointment : |
31.10.2008 |
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Date of Cessation : |
22.05.2009 |
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DIN : |
00585244 |
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Name : |
Ms. Purnima Singh Kamble |
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Father’s Name : |
Mahabir Singh |
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Designation : |
Director |
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Address : |
99/A, Mohan Villa, Road No.12, MLA Colony, Banajara Hills, Hyderabad –
500034, Andhra Pradesh, India |
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Date of Birth/Age : |
30.01.1972 |
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Date of Appointment : |
31.10.2008 |
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Date of Cessation : |
22.05.2009 |
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DIN : |
00241708 |
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Name : |
Mr. Dharendra Yog Goswami |
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Designation : |
Director |
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Address : |
17952, Cachet |
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Date of Birth/Age : |
15.05.1948 |
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Date of Appointment : |
10.02.2009 |
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Date of Cessation : |
10.07.2009 |
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DIN : |
02535133 |
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Name : |
Mr. Hemant Taneja |
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Designation : |
Additional Director |
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Address : |
11, |
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Date of Birth/Age : |
24.02.1975 |
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Date of Appointment : |
10.02.2009 |
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Date of Cessation : |
10.07.2009 |
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DIN : |
02514907 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.04.2010
|
Names of Shareholders |
Address |
No. of Shares |
|
Sunborne Energy Development Holdings Limited |
IFS Court Twenty Eight, |
9999 |
|
Sunborne Energy Holdings LLC, |
C/O, General Catalyst, 20, |
1 |
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Total |
|
10000 |
AS ON 10.11.2010
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Names of Allottees |
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No. of Shares
Allotted |
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Sunborne Energy Services India Private Limited, |
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100 |
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As on 26.04.2010
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Category |
Percentage |
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Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Independent Power Producers and Energy Traders |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Auditors : |
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Name : |
BSR and Associates Chartered Accountant |
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Address : |
Building No.10, 8th Floor, |
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Tel. No.: |
91-124-2549191 |
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Fax No.: |
91-124-2549101 |
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Holding Company : |
Sunborne Energy Development Holdings Limited, |
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Ultimate Holding Company : |
Sunborne Energy Holdings LLC |
CAPITAL STRUCTURE
As on 31.12.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10,000 |
Equity Shares |
Rs.10/-each |
Rs.0.100 million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
10,000 |
Equity Shares |
Rs.10/-each |
Rs.0.100 million |
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Of the
above 9999 share shares held by Sunborne Energy Development Holdings Limited,
the holding company. The ultimate holding company is Sunborne Energy Holding,
LLC
As on 10.11.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
10,000 |
Equity Shares |
Rs.10/-each |
Rs.0.100 million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
10,100 |
Equity Shares |
Rs.10/-each |
Rs.0.101million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
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31.12.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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|
0.000 |
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4] (Accumulated Losses) |
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(0.058) |
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NETWORTH |
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|
0.042 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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0.042 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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|
0.092 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.000 |
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Total
Current Assets |
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0.092 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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0.045 |
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Current Liabilities |
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0.005 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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0.050 |
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Net Current Assets |
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0.042 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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0.042 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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|
31.12.2009 |
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PROFIT BEFORE
TAX (E-F) (G) |
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(0.058) |
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PROFIT AFTER TAX
(G-I) (J) |
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(0.058) |
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Earnings Per
Share (Rs.) |
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(5.75) |
KEY RATIOS
|
PARTICULARS |
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|
31.12.2009 |
|
PAT / Total Income |
(%) |
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NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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[63.04] |
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Return on Investment (ROI) (PBT/Networth) |
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[1.38] |
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Debt Equity Ratio (Total Liability/Networth) |
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|
1.19 |
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Current Ratio (Current Asset/Current Liability) |
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|
1.84 |
LOCAL AGENCY FURTHER INFORMATION
Note : Registered office address
of the company has been shifted from FM House, #22, Road No.2, Banjara Hills,
Financial Results
:
The company has incurred net loss after tax of Rs.0.058 million for the period 31.10.2008 to
31.12.2009
Background :
Sunborne Energy Technologies
Private Limited was incorporated on 31.10.2008 under the companies Act 1956.
the company has its registered office in
As of 31.12.2009, the company is yet to commence any commercial
operations in
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.44.85 |
|
|
1 |
Rs.73.29 |
|
Euro |
1 |
Rs.64.89 |
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.