MIRA
INFORM REPORT
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Report Date : |
02.03.2011 |
IDENTIFICATION DETAILS
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Name : |
OSM ENGINEERING PNEUMATIC CONVEYING PRIVATE LIMITED |
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Registered Office : |
OSM House, Plot No. 53, Pragati Vihar, Sector – 59, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
08.09.2004 |
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Com. Reg. No.: |
05-35467 |
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CIN No.: [Company
Identification No.] |
U29150HR2004PTC035467 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKO00985F |
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PAN No.: [Permanent
Account No.] |
AAACO7273J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Ash Handling Systems. |
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 71200 |
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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 a well established company having satisfactory track
records. 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 – 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. Narash |
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Designation : |
Marking Manager |
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Contact No.: |
91-9911335415 |
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Date : |
08.02.2011 |
LOCATIONS
As on 30.09.2010
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Registered Office / Factory: |
OSM House, Plot No. 53, Pragati Vihar, Sector – 59, |
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Tel. No.: |
91-129-4275101 |
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Fax No.: |
91-129-427515 |
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Mobile No: |
91-9911335415 (Mr. Narash) |
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E-Mail : |
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Website: |
DIRECTORS
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Name : |
Ms. Suman Sharma |
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Designation : |
Director |
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Address : |
House No. 1930, Sector-8, Faridabad-121004, |
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Date of Birth/Age : |
11.06.1972 |
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Qualification : |
Graduate |
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Date of Appointment : |
08.09.2004 |
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Name : |
Mr. Surender Sharma |
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Designation : |
Director |
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Address : |
House No. 1930, Sector-8, Faridabad-121004, |
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Date of Birth/Age : |
26.06.1974 |
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Qualification : |
Graduate |
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Date of Appointment : |
08.09.2004 |
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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Surendar Sharma |
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213000 |
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Suman Kedarnath Sharma |
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38000 |
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AShok Sharma |
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34000 |
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Tek Chand |
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6000 |
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Narender Tewatia |
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10000 |
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Ramesh Chand Sharma |
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20500 |
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Omwati Devi |
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20500 |
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Seema Sharam |
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8000 |
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OSM |
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130000 |
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Total |
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480000 |
As on 30.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
97.92 |
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Other |
2.08 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Ash Handling Systems. |
GENERAL INFORMATION
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Bankers : |
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Facilities : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shyam Sunder Mangla and Company Chartered Accountant |
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Address : |
Sco -201, Shopping Centre, Sector-8, Faridabad-121006, |
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Tel. No.: |
91-129-2247275/2303601 |
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E-Mail : |
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Website: |
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Associates/Subsidiaries : |
OSM India, Faridabad,
Haryana, India |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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480000 |
Equity Shares |
Rs. 10/- each |
Rs. 4.800 Millions |
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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 |
4.950 |
2.650 |
1.645 |
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2] Share Application Money |
0.000 |
0.000 |
0.755 |
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3] Reserves & Surplus |
12.865 |
6.323 |
1.357 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
17.815 |
8.973 |
3.757 |
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LOAN FUNDS |
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1] Secured Loans |
16.600 |
5.027 |
0.068 |
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2] Unsecured Loans |
10.994 |
11.178 |
6.310 |
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TOTAL BORROWING |
27.594 |
16.205 |
6.378 |
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DEFERRED TAX LIABILITIES |
0.760 |
0.074 |
0.030 |
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TOTAL |
46.169 |
25.252 |
10.165 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
14.522 |
6.938 |
4.688 |
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Capital work-in-progress |
0.000 |
3.489 |
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 |
35.622
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10.728 |
10.654
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Sundry Debtors |
77.774
|
56.587 |
20.899
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Cash & Bank Balances |
30.230
|
14.525 |
2.045
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Other Current Assets |
0.214
|
0.078 |
0.296
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Loans & Advances |
26.011
|
6.663 |
0.963
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Total
Current Assets |
169.851
|
88.581 |
34.857 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
136.442
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72.258 |
28.852
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Provisions |
1.762
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1.498 |
0.568
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Total
Current Liabilities |
138.204
|
73.756 |
29.420
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Net Current Assets |
31.647
|
14.825 |
5.437
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.040 |
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TOTAL |
46.169 |
25.252 |
10.165 |
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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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200.839 |
77.448 |
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TOTAL |
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200.839 |
77.448 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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NA |
NA |
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Advertising Expenses |
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TOTAL |
NA |
NA |
NA |
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PROFIT BEFORE
TAX |
|
7.624 |
2.304 |
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Less |
TAX |
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2.653 |
0.811 |
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PROFIT AFTER TAX |
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4.971 |
1.493 |
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Earnings Per
Share (Rs.) |
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1.03 |
NA |
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KEY RATIOS
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
NA
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2.47 |
1.93
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Net Profit Margin (PBT/Sales) |
(%) |
NA
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3.79 |
2.97
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
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8.60 |
5.83
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Return on Investment (ROI) (PBT/Networth) |
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NA
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0.84 |
0.61
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Debt Equity Ratio (Total Liability/Networth) |
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7.75
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8.21 |
9.53
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Current Ratio (Current Asset/Current Liability) |
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1.22
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1.20 |
1.18
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LOCAL AGENCY FURTHER INFORMATION
Note: The Registered
office address of the company has been sifted from W1/966 Shiv Colony,
Trade Refernaces:
- Hira Group
- Bajaj Group
- Aditya Birla
Group
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Corporate
identity number of the company |
U29150HR2004PTC035467 |
|
Name of the
company |
OSM ENGINEERING PNEUMATIC
CONVEYING PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Osm House, Plot
No.-53,Pragati Vihar, Sector-59, |
|
This form is for |
Modification of
charge |
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Type of charge |
Book Debts Movable Property Floating Charge Immovable
Property |
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Particular of
charge holder |
Indian Overseas
Bank, SCO 63, Secotor-46, |
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Nature of
instrument creating charge |
Letter of
Hypothecation F 110 E and Confirmation Letter F 379 C. |
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Date of
instrument Creating the charge |
08.02.2010 |
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Amount secured by
the charge |
50.000 Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest: Interest @ BPLR-0.75% with a minimum of
11.25% p.a. with monthly rests. Commission on LG limit as applicable. Terms of Repayment: On Demand. Margin: Margin on stocks @ 25%, on book debts @ 50% on LG (Fin) @ 25% and on
LG (Per) @ 15%. Extent and Operation of the charge: As per Agreement. Others: The security has been given with an intent to secure enhanced credit
facilities of Rs. 50.000 Millions (OCC Rs. 15.000 Millions and L/G F & P
Rs. 35.000 Millions) granted to the Company. |
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Short particulars
of the property charged |
Hypothecation of
stocks, book debts and plant & machinery. Equitable
Mortgage of property situated at Plot No. 53, Pragati Vihar, Sector-59, |
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Particulars of
the present modification |
The credit
facilities granted to the Company enhanced from Rs. 25.000 Millions to Rs.
50.000 Millions detailed as under: Existing Enhanced (Rs in Millions) Cash Credit 15.000 15.000 Latter of Guarantee 10.00 35.000 |
Fixed Assets:
·
Plant and Machinery
·
Generator
·
Computer
·
Vehicle
·
Land
·
Office Equipments
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] 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.45.18 |
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|
1 |
Rs.72.78 |
|
Euro |
1 |
Rs.62.15 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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.