MIRA
INFORM REPORT
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Report Date : |
12.05.2011 |
IDENTIFICATION DETAILS
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Name : |
TRAVELXP INDIA PRIVATE LIMITED |
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Registered Office : |
116, 3rd Floor, MHADA Shopping Complex, Link Road Extension,
Next to Oshiwara Police Station, Mumbai – 400 102, Maharashtra |
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Country : |
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Financials as on : |
31.03.2010 |
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Date of Incorporation : |
18.03.2009 |
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Com. Reg. No.: |
11-191030 |
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Capital Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company
Identification No.] |
U63040MH2009PTC191030 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMT15334E |
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PAN No.: [Permanent
Account No.] |
AADCT1456B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
The subject is engaged into the activities of International Tours and
Travels. |
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No. of Employees : |
50 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (14) |
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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 : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a two years old company having moderate track. There
appears some accumulated losses recorded by the company. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow. 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.
INFORMATION PARTED BY
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Name : |
Mr. Vinod Kusswah |
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Designation : |
Accounts Executive |
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Contact No.: |
91-9223231729 |
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Date : |
10.05.2011 |
LOCATIONS
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Registered Office : |
116, 3rd Floor, MHADA Shopping Complex, Link Road
Extension, Next to Oshiwara Police Station, Mumbai – 400 102, Maharashtra,
India |
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Tel. No. : |
91-22-26369111 |
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Mobile No.: |
91-9223231729 (Mr. Vinod Kusswah) |
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E-Mail : |
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Website : |
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Area : |
12000 sq ft |
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Location : |
Owned |
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Corporate Office : |
C-15,
Dalia Industrial Estate, Opposite YRF Studios, |
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Tel. No.: |
91-22-42001000 |
DIRECTORS
As on 30.06.2010
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Name : |
Mr. Prashant M. Chothani |
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Designation : |
Director |
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Address : |
28/ 104, East Side Apartments, |
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Date of Birth/Age : |
14.12.1968 |
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Qualification : |
Graduate |
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Date of Appointment : |
18.03.2009 |
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DIN No. : |
00072714 |
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Name : |
Mrs. Nisha P. Chothani |
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Designation : |
Director |
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Address : |
28/ 104, East Side Apartments, |
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Date of Birth/Age : |
13.12.1967 |
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Qualification : |
Graduate |
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Date of Appointment : |
18.03.2009 |
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DIN No. : |
00072718 |
KEY EXECUTIVES
|
Name : |
Mr. Vinod Kusswah |
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Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2010
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Names of Shareholders |
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No. of Shares |
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Nisha P. Chothani |
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5000 |
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Prashant M. Chothani |
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5000 |
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Total |
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10000 |
As on 30.06.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The subject is engaged into the activities of International Tours and
Travels. |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Customers : |
OEM’s and End users |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
Cash Credit – Rs.31.000 Millions |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Rawani and Company Chartered Accountant |
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Address : |
B-205, Hinal Heritage, |
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Tel. No. : |
91-22-55725036 |
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E-Mail : |
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Associates/Subsidiaries : |
Media Worldwide
Private Limited Address: C-15,
Dalia Industrial Estate, Opposite YRF Studios, Line
of Business: Subject is into the business of broadcasting and
provides viewing pleasure to its audience through distinct channels of
entertainment namely Music India - the
most popular Hindi music channel in India and the UK, Sangeet
Bangla - the No. 1 Bengali music channel in the country and its
latest offering Sangeet
Bhojpuri. Tel./Fax:
91-22-42001000, 26730358, 26732704, 26732705 Celebrities
Management Private Limited Address: 118, 3rd Floor, Oshiwara Link Plaza, New Link Road
Extension, Next to Oshiwara Police Station, Mumbai - 400 102, Line of Business: Subject forges a vital link in the publicity chain by promoting the magic of celluloid and the sound of music on small screen. Tel: 91-22-26359158, 26369111, 26390982 Fax: 91-22-26390983 E-Mail: info@celebritiesmanagement.com |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.10/- each
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Rs.5.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each
|
Rs.0.100
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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|
31.03.2010 |
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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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4.900 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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(0.289) |
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NETWORTH |
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4.711 |
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LOAN FUNDS |
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1] Secured Loans |
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2.573 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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2.573 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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7.284 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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8.520 |
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Capital work-in-progress |
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2.596 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.129 |
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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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0.251 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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1.844 |
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Total
Current Assets |
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2.095 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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Other Current Liabilities |
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6.201 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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6.201 |
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Net Current Assets |
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(4.106) |
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MISCELLANEOUS EXPENSES |
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0.145 |
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TOTAL |
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7.284 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2010 |
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SALES |
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Income |
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Other Income |
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TOTAL |
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2.003 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
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2.421 |
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PROFIT BEFORE
TAX |
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(0.418) |
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Less |
TAX |
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(0.129) |
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PROFIT AFTER TAX |
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(0.289) |
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Earnings Per
Share (Rs.) |
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(28.90) |
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Particulars |
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31.03.2011 |
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Sales Turnover |
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Above 5.000 |
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Expected Sales ( 2011-2012 ) : Rs.20.000 Millions
The above information has been parted by Mr. Vinod Kusswah
KEY RATIOS
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PARTICULARS |
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31.03.2010 |
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PAT / Total Income |
(%) |
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(20.87) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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(3.94) |
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Return on Investment (ROI) (PBT/Networth) |
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(0.09) |
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Debt Equity Ratio (Total Liability/Networth) |
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1.86 |
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Current Ratio (Current Asset/Current Liability) |
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0.34 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details Not Available
OPERATIONS
:
The Company has been
incorporated on 18th March, 2009 with the Registrar of Companies,
FORM 8 :
|
Corporate
identity number of the company |
U63040MH2009PTC191030 |
|
Name of the
company |
TRAVELXP INDIA PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
116, 3rd Floor, MHADA Shopping Complex, Link Road Extension,
Next to Oshiwara Police Station, Mumbai – 400 102, Maharashtra, India |
|
This form is for |
Creation
of charge |
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Type of charge |
Book debts |
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Particular of
charge holder |
Indian Overseae Bank, Post Box No. 8290, 28, Ashok Nagar Society, Narsee
Monjee Road, Juhu, Mumbai – 400049, Maharashtra, India |
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Nature of
instrument creating charge |
Letter of
Hypothecation in F-110E. |
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Date of
instrument Creating the charge |
15.03.2010 |
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Amount secured by
the charge |
Rs.31.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest
: Cash Credit :
BPLR + 0.50% p.a. Term Loan : BPLR + 0.75% p.a. Terms of
repayment : Cash Credit :
Repayable on Demand. Term Loan : Repayable in 45 monthly installments of
Rs.0.444 Million each. Margin : Cash Credit : 50% Term Loan : 30% Extent and
operation of the charge : The charge is to
operate as security, by way of first exclusive charge, for the due repayment of
the credit facility of Rs.31.000 Millions together with interests, costs,
charges, expenses and all other moneys payable by the Company to the Bank in
terms of sanction. Others : Cash Credit :
Rs.11.000 Millions Term Loan :
Rs.20.000 Millions Total : Rs.31.000
Millions |
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Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation, by
way of first charge, of all the present and future: a) Stocks and Book debts of the company . b) Fixed Assets like Hardware and Software,
etc. |
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] 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.44.69 |
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|
1 |
Rs.73.12 |
|
Euro |
1 |
Rs.64.39 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
1 |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
1 |
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--RESERVES |
1~10 |
-- |
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--CREDIT LINES |
1~10 |
1 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
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 |
|
14 |
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 |
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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 |
|
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.