MIRA
INFORM REPORT
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Report Date : |
23.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
COSMOS TAPES AND LABELS PRIVATE LIMITED |
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Registered Office : |
No. 201, Rajkamal Sadan, Commercial Complex, Preet Vihar, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
28.03.2005 |
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Com. Reg. No.: |
55-134426 |
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Capital
Investment/ Paid-up Capital: |
Rs. 1.057 Millions |
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CIN No.: [Company
Identification No.] |
U51396DL2005PTC134426 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELC08471B |
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PAN No.: [Permanent
Account No.] |
AACCC5777D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Industrial Tapes |
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No. of
Employees: |
Approximately 40 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (43) |
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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 8868 |
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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 satisfactory track. Trade
relations are fair. Business is active. Payments are reported to be usually correct
and as per commitments. The company can be considered for normal business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
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
|
Name : |
Mr. Praveen |
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Designation : |
Account Executive |
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Contact No.: |
91-11-22021663 |
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Date : |
15.11.2011 |
LOCATIONS
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Registered
Office / Factory : |
No. 201, Rajkamal Sadan, Commercial Complex, Preet Vihar, |
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Tel. No.: |
91-11-22021663 / 42420291/ 22011542 |
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Fax No.: |
91-11-22011542 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Warehouse : |
59/2/6, Industrial Area Site - IV, Sahibabad, Uttar Pradesh |
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Location : |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Ravindra Nigam |
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Designation : |
Director |
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Address : |
A 105, Pooja Apt, 77 IP Extension, |
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Date of
Birth/Age : |
28.10.1966 |
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Qualification : |
MSC |
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Date of
Appointment : |
28.03.2005 |
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DIN No.: |
01107804 |
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Name : |
Mrs. Anjna Nigam |
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Designation : |
Director |
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Address : |
A 105, Pooja Apt, 77 IP Extension, |
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Date of
Birth/Age : |
04.01.1970 |
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Qualification : |
BSC |
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Date of
Appointment : |
28.03.2005 |
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DIN No.: |
00948850 |
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Name : |
Mrs. Usha Nigam |
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Designation : |
Director |
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Address : |
A 105, Pooja Apt, 77 IP Extension, |
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Date of
Birth/Age : |
25.05.1943 |
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Date of
Appointment : |
28.03.2005 |
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DIN No.: |
00948766 |
KEY EXECUTIVES
|
Name : |
Mr. Praveen |
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Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Ravindra Nigam |
|
59100 |
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Anjana Nigam |
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24110 |
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Usha Nigam |
|
22460 |
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TOTAL |
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105670 |
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Equity share breakup (percentage of total equity) |
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Category |
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Percentage of
Holding |
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As on 30.09.2010 |
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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 Industrial Tapes |
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Products : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit (60 Days) |
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Purchasing : |
L/C, Cash and Credit (60 Days) |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
Approximately 40 |
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Bankers : |
v
Andhra Bank, 14, Community Centre, Raj Kamal
Sadan, Preet Vihar, Delhi - 110092 |
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Facilities : |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Daver Sikri and Company Chartered Accountant |
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Address : |
4222/1, Luxmi Kunj, |
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Tel. No.: |
91-11-41563004 |
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Fax No.: |
91-11-23257263 |
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E-Mail : |
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Membership: |
Confederation of Indian Industry (CII) |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
300000 |
Equity Shares |
Rs. 10/- each |
Rs. 3.000 Millions |
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Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
105670 |
Equity Shares |
Rs. 10/- each |
Rs. 1.057 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
1.057 |
1.057 |
1.018 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.160 |
0.835 |
0.257 |
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4] (Accumulated Losses) |
0.000 |
0.00 |
0.000 |
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NETWORTH |
2.217 |
1.892 |
1.275 |
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LOAN FUNDS |
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1] Secured Loans |
3.120 |
3.600 |
1.828 |
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2] Unsecured Loans |
2.903 |
0.050 |
0.559 |
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TOTAL BORROWING |
6.023 |
3.650 |
2.387 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
8.240 |
5.542 |
3.662 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.882 |
3.607 |
2.642 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
3.693
|
2.330 |
2.149 |
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Sundry Debtors |
6.625
|
8.616 |
5.148 |
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Cash & Bank Balances |
0.398
|
0.127 |
0.338 |
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Other Current Assets |
0.056
|
0.000 |
0.000 |
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Loans & Advances |
0.491
|
0.253 |
0.320 |
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Total
Current Assets |
11.263
|
11.326 |
7.955 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
6.362
|
8.603 |
6.493 |
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Provisions |
0.550
|
0.797 |
0.454 |
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Total
Current Liabilities |
6.912
|
9.400 |
6.947 |
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Net Current Assets |
4.351
|
1.926 |
1.008 |
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MISCELLANEOUS EXPENSES |
0.007 |
0.009 |
0.012 |
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TOTAL |
8.240 |
5.542 |
3.662 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
36.529 |
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NA |
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Other Income |
NA |
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NA |
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TOTAL |
NA |
38.863 |
NA |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
NA |
38.267 |
NA |
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Depreciation |
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Financial Charges |
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TOTAL |
NA |
38.267 |
NA |
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PROFIT BEFORE
TAX |
0.473 |
0.596 |
NA |
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Less |
TAX |
NA |
0.564 |
NA |
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PROFIT AFTER TAX
|
NA |
0.032 |
NA |
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IMPORTS |
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Raw Materials |
NA |
2.110 |
0.580 |
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Others |
NA |
0.000 |
0.081 |
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TOTAL IMPORTS |
NA |
2.110 |
0.661 |
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Earnings Per
Share (Rs.) |
-- |
3.08 |
-- |
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Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
40.000 |
Expected Sales (2011-2012) : Rs. 45.000 Millions
The above information has been parted by Mr. Praveen (Account Executive)
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
0.08 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
1.29
|
NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.12
|
3.99 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.32 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
5.83
|
6.90 |
7.32 |
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Current Ratio (Current Asset/Current Liability) |
|
1.62
|
1.20 |
1.15 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by
Info Agents |
Available in
Report (Yes/ No) |
|
Year of Establishment |
Yes |
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Locality of the firm |
Yes |
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Constitutions of the firm |
Yes |
|
Premises details |
Yes |
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Type of Business |
Yes |
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Line of Business |
Yes |
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Promoter’s Background |
-- |
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No. of Employees |
Yes |
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Name of person Contacted |
Yes |
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Designation of contact person |
Yes |
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Turnover of firm for last 3 years |
Yes |
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Profitability for last three years |
No |
|
Reasons for Variation <> 20%` |
-- |
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Estimation for coming financial year |
Yes |
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Capital in the business |
No |
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Details of sister concern |
-- |
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Major Suppliers |
No |
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Major Customers |
No |
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Payment Terms |
Yes |
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Export/ Import Details (If applicable) |
Yes |
|
Market Information |
-- |
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Litigations that the firm/ Promoter involved in |
-- |
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Banking Details |
Yes |
|
Banking Facility details |
-- |
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Conduct of the banking account |
-- |
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Buyer visit details |
-- |
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Financials, fi provided |
Yes |
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Incorporation details, if applicable |
-- |
|
Last accounts filed at ROC |
-- |
|
Major Shareholders , if available |
-- |
Trade
References:
- Handson Metals Private Limited
Form 8:
|
This form is for |
Modification of charge |
|
Charge identification number of the modified |
80023737 |
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Corporate identity number of the company |
U51396DL2005PTC34426 |
|
Name of the company |
COSMOS TAPES AND LABELS PRIVATE LIMITED |
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Address of the registered office or of the
principal place of business in |
201 Raj Kamal Sadancomm Complex Preet Vihar,
|
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Floating charge |
|
Particular of charge holder |
Andhra Bank, 14, Community Centre, Raj Kamal
Sadan, Preet Vihar, Delhi - 110092, india |
|
Nature of description of the instrument
creating or modifying the charge |
1. Sanction Letter By andhra Bank. 2. Composite Agreement Dated 27/11/2008 in
Favour of andhra Bank, Preet Vihar,
New 3. RF 211-a Dated 27/11/2008. 4. RF 255 Dated 27/11/2008 Containing
Description of Title Deed of Property Mortgaged. |
|
Date of instrument Creating the charge |
27.11.2008 |
|
Amount secured by the charge |
Rs. 2.500 Millions |
|
Brief particulars of the principal terms an
conditions and extent and operation of the charge |
Rate of interest On Open Cash Credit - as The Applicable PLR
13.25% Minus Spread of 0.50 % Presently At 12.75% P.a. With Monthly/quarterly
Rests. Such Rate of interest shall Be Charged not
only on The Advance But Also on The Cost of insurance Premia and Other
Expenses, Charges, costs and Fees. (other Terms and Conditions as Per Composite
Agreement Dated 27/11/2008) Terms of Repayment As Per Composite Agreement Dated 27/11/2008. Margin That The Borrower(s) Undertake(s) and
Agree(s) to Maintain A Margin Against The Securities Hypothecated Below as
May Be Specified By The Bank From Time to Time. OCC - 30%
Paid Stock 50%
on Eligible Book-debts of Upto 90 Days of Age Extent and Operation of The Charge This is a Continuing Charge |
|
Date of latest modification prior to the
present modification |
05.02.2007 |
|
Short Particulars of the Property or
asset(s) charged (including complete address and location of the property) |
Land and Building At Plot No. 59/2/6, Site
IV, industrial area Sahibabad, Dist. Ghaziabad (up)and Hypothecation of
Stocks, Vehicles, Movable Machinery and Book-debts . |
Fixed
Assets:
- AC
- Honda City Car
- Cellular Phone
- Computer
- Fax Machine
- Fire Exclusive
- Invertor
- Machinery
- Printer
- Generator
- Land
- Building
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. 52.70 |
|
|
1 |
Rs. 82.44 |
|
Euro |
1 |
Rs. 71.08 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.