MIRA
INFORM REPORT
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Report Date : |
21.11.2011 |
IDENTIFICATION DETAILS
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Name : |
KESONA POYMATS PRIVATE LIMITED |
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Registered
Office : |
Bale Pir Nagar Road, Beed-431122, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
07.10.1996 |
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Com. Reg. No.: |
11-103111 |
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Capital
Investment / Paid-up Capital : |
Rs.7.200 Millions |
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CIN No.: [Company Identification
No.] |
U25209MH1996PTC103111 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NSKK01961B |
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PAN No.: [Permanent Account No.] |
AABCK4678A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Poly Propylene Mats. |
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No. of Employees
: |
150 (Approximately) [In Office – 20 and In Factory – 130] |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 38000 |
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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 an established company having moderate track. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow. The company can be considered for business dealing with some caution. |
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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 (GENERAL DETAILS)
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Name : |
Mr. Deshpande |
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Designation : |
Marketing Manager |
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Date : |
12.11.2011 |
LOCATIONS
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Registered Office : |
Bale |
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Tel No.: |
91-2442-222068 |
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E-Mail : |
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Location : |
Owned |
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Factory : |
K-131/2, MIDC, Waluj, |
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Tel. No.: |
91-240-2555327 |
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Fax No.: |
91-240-2555146 |
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E-Mail : |
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Area : |
400 Sq ft |
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Location : |
Owned |
DIRECTORS
As on 04.05.2010
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Name : |
Mr. Jaidatta Sonajirao Kshirsagar |
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Designation : |
Director |
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Address : |
Bale pir Nagar Road, Beed - 431122, Maharashtra, India |
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Date of Birth/Age : |
07.12.1948 |
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Date of Appointment : |
07.10.1996 |
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DIN No.: |
02174846 |
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Other Directorship :
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Name : |
Mr. Vithal Sonajirao Kshirsagar |
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Designation : |
Director |
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Address : |
Bale pir Nagar Road, Beed-431122, Maharashtra, India |
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Date of Birth/Age : |
02.06.1966 |
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Date of Appointment : |
07.10.1996 |
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DIN No.: |
02174853 |
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Other Directorship :
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Name : |
Mr. Anil Dattatraya Dhawale |
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Designation : |
Director |
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Address : |
N-9-H-117/3, CIDCO, Aurangabad – 431005, Maharashtra, India |
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Date of Birth/Age : |
02.05.1965 |
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Date of Appointment : |
09.10.1996 |
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DIN No.: |
00429263 |
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Other Directorship :
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Name : |
Mr. Ram Vishnupant Golhar |
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Designation : |
Director |
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Address : |
Dupex – 03, Kasliwal Aangan, Dnyaneshar Nagar, Aurangabad-431001, |
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Date of Birth/Age : |
13.05.1970 |
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Date of Appointment : |
27.12.2007 |
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DIN No.: |
01974915 |
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Other Directorship :
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Name : |
Mr. Rohit Kshirsagar |
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Designation : |
Director |
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Address : |
202, Bhima Building, SIR Poachkhanwala Road, Worli Sagar Co-operative
Housing Society, Worli, Mumbai – 400025, Maharashtra, India |
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Date of Birth/Age : |
05.06.1981 |
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Date of Appointment : |
20.04.2010 |
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DIN No.: |
02953435 |
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Other Directorship :
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KEY EXECUTIVES
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Name : |
Mr. Deshpande |
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Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 04.05.2010
|
Names of Shareholders |
No. of Shares |
|
Jaidatta Sonajirao Kshirsagar |
61000 |
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Vithal Sonajirao Kshirsagar |
10999 |
Equity Share Break up (Percentage of Total Equity)
As on 04.05.2010
|
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 : |
Manufacturer of Poly Propylene Mats. |
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Products : |
·
Sona Perfume ·
Sona Classic ·
Sona Super Deluxe ·
Sona Premium ·
Sona Regular ·
Sona Colour ·
Sona Slim ·
Sona Travel ·
Sona Yoga ·
Sona Tent ·
Sona Namazi ·
Sona Promotion |
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Exports : |
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Products : |
Poly Propylene Mats |
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Countries : |
·
UK ·
USA ·
France ·
Malaysia |
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Terms : |
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Selling : |
L/C/ Cash/ Credit (30 - 60 days) |
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Purchasing : |
Cash/ Credit (30 - 60 days) |
GENERAL INFORMATION
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Customers : |
·
OEM’s ·
Industries |
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No. of Employees : |
150 (Approximately) [In Office – 20 and In Factory – 130] |
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Bankers : |
State Bank of India, Beed Branch, Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Karkhanis and Kothari Chartered Accountants |
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Address : |
R-3, Amruta Residency, Vedant Nagar, Station Road, Aurangabad-431005,
Maharashtra, India |
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PAN.: |
AADFJ8448D |
CAPITAL STRUCTURE
After 04.05.2010
Authorised Capital
: Rs.14.500 Millions
Issued, Subscribed
and Paid-up Capital : Rs.7.200 Millions
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
75000 |
Equity Shares |
Rs.100/- each |
Rs.7.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
75000 |
Equity Shares |
Rs.100/-
each |
Rs.7.500
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 |
7.200 |
7.200 |
7.200 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.490 |
1.675 |
0.858 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
9.690 |
8.875 |
8.058 |
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LOAN FUNDS |
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1] Secured Loans |
11.697 |
3.040 |
2.669 |
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2] Unsecured Loans |
2.400 |
2.400 |
2.400 |
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TOTAL BORROWING |
14.097 |
5.440 |
5.069 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
23.787 |
14.315 |
13.127 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.635 |
6.756 |
6.794 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
2.449 |
2.036 |
1.936 |
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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 |
8.127
|
9.809
|
4.760 |
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Sundry Debtors |
5.245
|
1.527
|
2.597 |
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Cash & Bank Balances |
11.279
|
0.262
|
0.648 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
0.359
|
2.415
|
5.351 |
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Total
Current Assets |
25.010
|
14.013
|
13.356 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
3.698
|
3.096
|
3.430 |
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Provisions |
5.609
|
5.408
|
5.568 |
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Total
Current Liabilities |
9.307
|
8.504
|
8.998 |
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Net Current Assets |
15.703
|
5.509
|
4.358 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.014 |
0.039 |
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TOTAL |
23.787 |
14.315 |
13.127 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.41
|
1.57
|
1.75 |
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Current Ratio (Current Asset/Current Liability) |
|
2.68
|
1.65
|
1.48 |
LOCAL AGENCY FURTHER INFORMATION
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Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter’s background |
-- |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
No |
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12) Profitability for last three years |
No |
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13) Reasons for variation <> 20% |
No |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
No |
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16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
Yes |
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21) Market information |
-- |
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22) Litigations that the firm / promoter |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
-- |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if applicable |
-- |
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29) Last accounts filed at ROC |
-- |
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30) Major Shareholders, if available |
-- |
Bankers Charges
Report as per Registry
|
Name of the company |
KESONA POLYMETS PRIVATE LIMITED |
|
Presented By |
State Bank of India, Industrial Finance
Branch Aurangabad |
|
1) Date and description of instrument creating the change |
General agreement
for the grant of Term Advances to small Scale Industries and hypo. of movable
book debts and other assets dated 12.10.1998 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.15.000
Millions |
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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 |
All Present and
future goods, book debts, movables and other assets of the borrower including
documents of title to goods and other assets such as outstanding moneys,
receivables, claims, bills invoices, documents, contracts, engagements,
securities, investments and rights and all present and all present and all
future machinery. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
R.O.I.: 2.25%
above the SBIAR with a minimum of 15.25% effective rate 15.55% p.a. inclusive
of int. tax. Repayment: First
6 monthly installment of Rs.0.100 Million, Next 12 monthly installment of
Rs.0.100 Million, Next 12 monthly installment of Rs.0.125 Million, Next 12
monthly installment of Rs.0.175 Million, Next 12 monthly installment of
Rs.0.225 Million, Next 12 monthly installment of Rs.0.275 Million, Last 12
monthly installment of Rs.0.300 Million |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of
India, Industrial Finance Branch, Aurangabad, Maharashtra, India |
|
6) Date and brief description of instrument modifying the charge |
Mortgage deed for
credit facilities granted to Small Scale Industries dated 20.11.1998 |
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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. |
The original
charge was created on 12.10.1998. Now by the presented modification amount is
additionally secured by land and building described in Schedule ‘A’ i.e.: All
the piece and parcel of land or ground
with structure thereon, situated at K-131/2, MIDC Waluj, Aurangabad, and
bearing the following description. Plot No.
Area of Plot
Tq. and Dist. K-131/2 1950 sq.mtrs. Aurangabad And bounded as
follows: On or towards: NORTH by : Plot No.K-131 SOUTH by : Plot No.131/1 and K-132 EAST by : K-152/ K-153 WEST by : |
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.51.72 |
|
|
1 |
Rs.81.42 |
|
Euro |
1 |
Rs.69.89 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.