MIRA
INFORM REPORT
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Report Date : |
30.05.2011 |
IDENTIFICATION DETAILS
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Name : |
WHALER AUTOMOTIVE INDIA PRIVATE LIMITED |
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Registered
Office : |
308, R-Square, Opposite Atul Nagar, Warje, Pune – 411052, |
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Country : |
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Financials (as
on) : |
31.12.2009 |
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Date of
Incorporation : |
25.11.2008 |
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Com. Reg. No.: |
11-133082 |
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Paid-up Capital
: |
Rs. 50.000 Millions |
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CIN No.: [Company Identification
No.] |
U34300PN2008PTC133082 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEW01602G |
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PAN No.: [Permanent Account No.] |
AAACW8505F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Supplier of Automotive Parts |
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No. of Employees
: |
Information not divulged by management |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (15) |
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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 : |
Recently commenced |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Though the company was incorporated in the year 2008, the company has
started its commercial business activities recently in the year January 2010.
Business is active. Payments terms are unknown. The company can be considered for business dealings with some caution.
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NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DENIED BY
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Name : |
Mr. Juergen |
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Designation : |
Director |
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Contact No.: |
91-9158000170 |
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Date : |
30.05.2011 |
LOCATIONS
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Registered Office : |
308, R-Square, Opposite Atul Nagar, Warje, Pune – 411052, |
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Mobile No.: |
91-9158000170 (Mr. Juergen) |
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E-Mail : |
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Factory : |
Plot No. G2, Ranjangaon Industrial 200, Shirur, District Pune -
412220, |
DIRECTORS
As On 18.05.2010
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Name : |
Mr. Eduard Roland Gutt |
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Designation : |
Director |
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Address : |
Kirchheim Unter Teck Villastr. 17, 73230 |
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Date of Birth/Age : |
24.01.1962 |
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Date of Appointment : |
18.05.2010 |
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DIN No.: |
02963296 |
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Name : |
Mr. Wolfgang Josef Daubner |
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Designation : |
Additional Director |
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Address : |
Notzingen, Ortsteil, Wellingen, Beethovenstrasse 5 Notzingen 73274 |
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Date of Birth/Age : |
31.05.1952 |
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Date of Appointment : |
18.05.2010 |
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DIN No.: |
02403016 |
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Name : |
Mr. Manoj Kumar Kukreti |
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Designation : |
Director |
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Address : |
A-16/9, Vasant Vihar, |
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Date of Birth/Age : |
26.01.1979 |
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Date of Appointment : |
25.11.2008 |
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Date of Cessation : |
09.02.2010 |
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DIN No.: |
00041861 |
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Name : |
Ms. Jennifer M Denzil Peter Godinho |
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Designation : |
Director |
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Address : |
S-17, Greater Kailash – II, |
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Date of Birth/Age : |
09.11.1974 |
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Date of Appointment : |
25.11.2008 |
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Date of Cessation : |
09.02.2010 |
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DIN No.: |
00332911 |
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Name : |
Mr. Juergen Rosin |
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Designation : |
Managing Director |
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Address : |
Remshalden Ortsteil Grunbach Schulstrabe 19 |
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Date of Birth/Age : |
02.12.1967 |
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Date of Appointment : |
28.01.2010 |
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DIN No.: |
02863696 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 18.05.2010
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Names of Shareholders |
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No. of Shares |
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Gustav Wahler Gmbh and Company – |
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50000 |
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Wahler Duratherm Holding Gmbh – |
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4950000 |
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Total |
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5000000 |
As On 18.05.2010
|
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 : |
Supplier of Automotive Parts |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Suppliers : |
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No. of Employees : |
Information not divulged by management |
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Bankers : |
Not Available |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B S R and Associates Chartered Accountant |
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Address : |
703, 7th Floor, Godrej Castlemaine, Next to Ruby Hall
Clinic, Bund Garden Road, Pune - 411001, Maharashtra, India |
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Tel. No.: |
91-20-30585764/30585765 |
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Fax No.: |
91-20-30585775 |
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Website : |
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Pan No.: |
AAIFB0630K |
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Ultimate Holding Company : |
Gustav Wahler GmbH and Company KG, |
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Holding Company : |
Wahler Duratherm Holding GmbH |
CAPITAL STRUCTURE
As On 31.12.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
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Note:
(Of the above 50,000 shares are held by Gustav Wahler GmbH and Co. KG, the Ultimate Holding Company and balance 4,950,000 shares
are held by Wahler Duratherm Holding GmbH, the Holding Company)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
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31.12.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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50.000 |
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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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(17.903) |
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NETWORTH |
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32.097 |
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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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32.097 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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6.357 |
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Capital work-in-progress |
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39.471 |
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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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2.815 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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18.309 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.622 |
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Total
Current Assets |
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21.746 |
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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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35.276 |
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Provisions |
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0.201 |
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Total
Current Liabilities |
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35.477 |
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Net Current Assets |
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(13.731) |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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32.097 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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|
31.12.2009 |
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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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0.395 |
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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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18.667 |
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DEPRECIATION/
AMORTISATION |
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0.169 |
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PROFIT BEFORE
TAX |
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(17.902) |
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Less |
TAX |
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0.001 |
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PROFIT AFTER TAX
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(17.903) |
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Earnings Per
Share (Rs.) |
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3.58 |
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KEY RATIOS
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PARTICULARS |
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|
31.12.2009 |
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PAT / Total Income |
(%) |
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(4532.41) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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(63.70) |
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Return on Investment (ROI) (PBT/Networth) |
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(0.56) |
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Debt Equity Ratio (Total Liability/Networth) |
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1.11 |
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Current Ratio (Current Asset/Current Liability) |
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0.61 |
LOCAL AGENCY FURTHER INFORMATION
The details of sundry
creditors are not available.
BACKGROUND:
Subject was incorporated on 25.11.2008 under the Indian
Companies Act, 1956 with the
objective of setting up a manufacturing base in
The Company is in a startup phase and has not commenced commercial operations as of 31.12.2009.
Fixed Assets:
- Plant and machinery
- Computers
- Furniture and fixtures
- Office equipment
- Software
- Capital advances
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.45.21 |
|
|
1 |
Rs.74.30 |
|
Euro |
1 |
Rs.64.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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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 |
- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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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 |
NO |
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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 |
|
15 |
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.