MIRA
INFORM REPORT
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Report Date : |
17.03.2011 |
IDENTIFICATION DETAILS
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Name : |
MILLENNIUM CONFERENCING SYSTEMS PRIVATE LIMITED |
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Formerly Known
As : |
MILLENNIUM CYBERNET PRIVATE LIMITED |
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Registered Office : |
7-B, Mittal Court, 478 Rasta Peth, Pune – 411001, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
03.09.1998 |
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Com. Reg. No.: |
25-012841 |
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CIN No.: [Company
Identification No.] |
U12841PN1998PTC012841 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader of all types of Video products such as plasma screens, multimedia
projectors, motorized screen, camera control systems and video players. |
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 12000 |
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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 steady business. Trade
relations are reported as fair. General financial position is satisfactory.
Payments are reported as correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. Profit and Loss of the company is not available |
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. Patange |
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Designation : |
Accounts Department |
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Date : |
16.03.2011 |
LOCATIONS
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Registered Office : |
7-B, Mittal Court, 478 Rasta Peth, Pune – 411001, |
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Tel. No.: |
91-20-26135739 / 26128700 |
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Fax No.: |
91-20-26120600 |
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Video: |
91-20-26051995 |
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E-Mail : |
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Website : |
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Area : |
1200 sq.ft.(Owned ) |
DIRECTORS
As on 24.09.2010
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Name : |
Mr. Surendar Kumar Manoharlal Gupta |
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Designation : |
Chairman cum Managing Director |
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Address : |
20 Talera Park, Kalyani Nagar, |
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Date of Birth/Age : |
08.08.1960 |
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Qualification : |
Graduate |
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Date of Appointment : |
03.09.1998 |
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DIN No.: |
00384307 |
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Name : |
Mrs. Priyadarshni Surendra Kumar Gupta |
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Designation : |
Director |
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Address : |
20 Talera Park, Kalyani Nagar, |
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Date of Birth/Age : |
14.10.1961 |
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Qualification : |
Graduate |
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Experience : |
03.09.1998 |
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DIN No.: |
00384344 |
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Name : |
Mr. Jitenderkumar Manoharlal Gupta |
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Designation : |
Director |
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Address : |
12/2-715/2, 2nd |
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Date of Birth/Age : |
19.08.1964 |
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Qualification : |
Graduate |
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Date of Appointment : |
29.09.2007 |
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DIN No.: |
01577130 |
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Name : |
Mrs. Manju Kamalkishore Kacholia |
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Designation : |
Additional Director |
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Address : |
Flat 1 and 2, Vedang, Opposite ITI Aundh, Pune-411007, |
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Date of Birth/Age : |
27.11.1956 |
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Date of Appointment : |
31.01.2011 |
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DIN No.: |
00279015 |
KEY EXECUTIVE
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Name : |
Mr. Patange |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2010
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Names of Shareholders |
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No. of Shares |
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Surendar Kumar Manoharlal Gupta |
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199600 |
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Priyadarshini Surendra Kumar Gupta |
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400 |
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Total |
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200000 |
Equity Share
Breakup (Percentage of Total Equity)
AS ON 30.09.2010
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Category |
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Percentage of
Holding |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of all types of Video products such as plasma screens,
multimedia projectors, motorized screen, camera control systems and video
players. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
Corporate’s |
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No. of Employees : |
10 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vinod K Gupta and Associates Chartered Accountants |
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Address : |
1549/B, Sadashiv Peth, |
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Tel. No.: |
91-20-24338960 |
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Mobile No.: |
91-9422029955 |
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Fax No.: |
91-20-24332293 |
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E-Mail : |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.000 |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.913 |
1.710 |
1.568 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.913 |
2.210 |
2.068 |
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LOAN FUNDS |
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1] Secured Loans |
7.140 |
4.486 |
4.601 |
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2] Unsecured Loans |
0.243 |
3.295 |
2.519 |
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TOTAL BORROWING |
7.383 |
7.781 |
7.120 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
10.296 |
9.991 |
9.188 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
6.091 |
5.694 |
5.341 |
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Capital work-in-progress |
0.001 |
0.001 |
0.001 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.103 |
0.102 |
0.098 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
3.560
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5.787
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3.164 |
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Sundry Debtors |
2.431
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0.903
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4.365 |
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Cash & Bank Balances |
0.345
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0.432
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1.019 |
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Other Current Assets |
0.000
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0.000
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0.000 |
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Loans & Advances |
1.702
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1.020
|
0.838 |
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Total
Current Assets |
8.038
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8.142
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9.386 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
2.847
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2.982
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4.878 |
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Other Current Liabilities |
0.000
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0.000
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0.000 |
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Provisions |
1.090
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0.966
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0.760 |
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Total
Current Liabilities |
3.937
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3.948
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5.638 |
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Net Current Assets |
4.101
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4.194
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3.748 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
10.296 |
9.991 |
9.188 |
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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 Turnover (Approximately) |
11.215 |
15.023 |
25.589 |
Expected Sales (2010-11) : Rs. 30.000 Millions
KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.89
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5.31
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6.17 |
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Current Ratio (Current Asset/Current Liability) |
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2.04
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2.06
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1.66 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs
in Millions
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Particulars |
As
on 31.03.2010 |
As
on 31.03.2009 |
As
on 31.03.2008 |
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Sundry Creditors for Goods |
0.127 |
0.461 |
1.684 |
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Sundry Creditors for Others |
2.720 |
2.521 |
3.194 |
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2.847 |
2.982 |
4.878 |
Trade References:
·
Wipro Limited
Bankers Charges Report
as per Registry
|
Corporate
identity number of the company |
U12841PN1998PTC012841 |
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Name of the
company |
MILLENNIUM
CONFERENCING SYSTEMS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
7-B Mittal Court
478 Rastapeth, Pune - 411001 |
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This form is for |
Creation of
charge |
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Type of charge |
Book Debts Floating Charges Others |
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Particular of
charge holder |
ING Vysya Bank Limited, 928, Mantri
Centre, |
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Nature of
instrument creating charge |
General
Hypothecation Agreement |
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Date of
instrument Creating the charge |
19.03.2010 |
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Amount secured by
the charge |
Rs. 5.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest SOD: IVRR- 4.25%
(Present IVRR is 15.75%) BG: Commission as
per bank norms. Terms of
Repayment SOD: Payable on
Demand BG: Payable on
Demand Margin SOD: Nil BG: 25% Cash
Margin Extent and
Operation of the charge First charge on
stocks of communication related instruments etc., both present and future First charge on
entire present and future book debts |
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Short particulars
of the property charged |
All the stocks of
communication related instrument etc., both present and future stored/ to be
stores at 7-B, Entire book
debts/ receivables of the company both present and future. |
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U12841PN1998PTC012841 |
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Name of the
company |
MILLENNIUM
CONFERENCING SYSTEMS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
7-B Mittal Court
478 Rastapeth, Pune - 411001 |
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Type of charge |
Immovable
Property |
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Particular of
charge holder |
CITI Bank NA,
PUNE -411001, |
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Nature of description
of the instrument creating or modifying the charge |
Loan Agreement |
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Date of
instrument Creating the charge |
29/10/2007 |
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Amount secured by
the charge |
Rs. 3.500
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 10.75% P.A. Terms of
Repayment 180 Monthly
Instalments Of Rs. 39,253/- Each Starting From 1/11/2007 And Last On
1/10/2022 Margin As Per Loan
Agreement Extent and
Operation of the charge First &
Exclusive Charge |
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Short particulars
of the property charged |
Flat No. 501 5th
Floor S. No. 199 Sanyabelvencler Plot No 8 Lohegaon Pune 411037 |
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Name of the company |
MILLENNIUM CONFERENCING
SYSTEMS PRIVATE LIMITED |
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Presented By |
Mr. Surendar Kumar Manoharlal Gupta |
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1) Date and description of instrument creating the change |
Deed of
Hypothecation dated 4th December, 1998 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.500 Million
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
Fax Machine and Video Conferencing Machine |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest - 8.85
%, OBR with Minimum of 17.85 % p.a. Margin – 30 % Repayment – On
Demand |
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5) Name and Address and description of the person entitled to the charge. |
Punjab and Sind
Bank, |
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6) Date and brief description of instrument modifying the charge |
Nil |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Nil |
Fixed Assets
- Computer
- Plant and Machinery
- Furniture and Fixture
- Office Equipments
- Flat at Viman Nagar
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.45.18 |
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|
1 |
Rs.72.59 |
|
Euro |
1 |
Rs.63.13 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
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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 |
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.