MIRA
INFORM REPORT
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Report Date : |
05.10.2011 |
IDENTIFICATION DETAILS
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Name : |
SS ENVIROTHERMAL TECHNOLOGIES PRIVATE LIMITED |
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Registered
Office : |
B-111, 1st Floor, Jai Ganesh Vision Complex, Akurdi,
Pune-411035, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
10.10.2007 |
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Com. Reg. No.: |
11-130824 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.100 million |
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CIN No.: [Company Identification
No.] |
U74900PN2007PTC130824 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Importer of Heating Elements, Wires, Cables and
Accessories. |
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No. of Employees : |
15 (Approximately) |
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 3000 |
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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. Profitability
of the company appears to be low. Trade relations are reported as fair.
Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution,
initially. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
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Name : |
Mr. Sanjeev Rao |
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Designation : |
Director |
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Contact No.: |
91-9423506941 |
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Date : |
04.10.2011 |
LOCATIONS
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Registered Office : |
B-111, 1st Floor, Jai Ganesh Vision Complex, Akurdi,
Pune-411035, |
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Mobile No.: |
91-9423506941 (Mr. Sanjeev Y. Rao) |
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E-Mail : |
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Website : |
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Area : |
1000 sq. ft. |
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Location : |
Owned |
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Factory 1 : |
Gat No.68, Plot 17/ A, 1st Floor, Sanvane Wasti, Talawade,
Pune-412114, |
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Tel. No.: |
91-20-66113311 |
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Fax No.: |
91-20-66113311 |
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Area : |
1800 sq. ft |
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Location : |
Rented |
DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Sushil H. Arora |
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Designation : |
Director |
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Address : |
36/1, Matru Mandir, Opposite Lokangan, Shastrinagar, Mulund Colony,
Mulund (West), Mumbai-400 082, |
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Date of Birth/Age : |
09.03.1967 |
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Qualification : |
B.Com |
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Date of Appointment : |
10.10.2007 |
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DIN No.: |
00251341 |
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Other Directorship:
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Name : |
Mr. Sanjeev Rao Yerraguntla |
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Designation : |
Director |
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Address : |
H. No. 5-9-51/34, Kalyan Gardens, Kandiguda Village, Yapral,
Hyderabad-500 094, Andhra Pradesh, India |
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Date of Birth/Age : |
20.05.1955 |
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Qualification : |
Master in Electronics |
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Date of Appointment : |
10.10.2007 |
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DIN No.: |
01706925 |
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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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Sushil Arora |
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5000 |
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Sanjeev Rao Yerraguntla |
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5000 |
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Total |
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10000 |
As on 30.09.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Importer of Heating Elements, Wires, Cables and Accessories.
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GENERAL INFORMATION
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No. of Employees : |
15 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Sunsvg and Associates Chartered Accountants |
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Address : |
504, |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised 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 |
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 |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.708 |
0.045 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(0.495) |
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NETWORTH |
0.808 |
0.145 |
(0.395) |
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LOAN FUNDS |
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1] Secured Loans |
4.617 |
1.859 |
0.000 |
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2] Unsecured Loans |
1.448 |
0.858 |
0.337 |
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TOTAL BORROWING |
6.065 |
2.717 |
0.337 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
6.873 |
2.862 |
(0.058) |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.052 |
0.397 |
0.142 |
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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 |
3.224
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4.193
|
0.039 |
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Sundry Debtors |
5.962
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0.911
|
0.172 |
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Cash & Bank Balances |
0.256
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2.612
|
0.108 |
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Other Current Assets |
0.000
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0.000
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0.000 |
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Loans & Advances |
0.697
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0.458
|
0.107 |
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Total
Current Assets |
10.139
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8.174
|
0.426 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
3.857
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2.618
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0.321 |
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Other Current Liabilities |
0.157
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3.076
|
0.312 |
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Provisions |
0.316
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0.032
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0.013 |
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Total
Current Liabilities |
4.330
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5.726
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0.646 |
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Net Current Assets |
5.809
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2.448
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(0.220) |
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MISCELLANEOUS EXPENSES |
0.012 |
0.017 |
0.020 |
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TOTAL |
6.873 |
2.862 |
(0.058) |
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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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Sales |
18.689 |
6.286 |
0.397 |
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Other Income |
0.000 |
0.000 |
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TOTAL |
18.689 |
6.286 |
0.397 |
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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 |
17.591 |
6.136 |
0.879 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.098 |
0.150 |
(0.482) |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
0.138 |
0.091 |
0.000 |
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PROFIT/LOSS
BEFORE TAX |
0.960 |
0.059 |
(0.482) |
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Less |
TAX |
0.296 |
0.014 |
0.013 |
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PROFIT/LOSS
AFTER TAX |
0.664 |
0.045 |
(0.495) |
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Earnings Per
Share (Rs.) |
66.40 |
-- |
-- |
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KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
3.55
|
0.72 |
(124.69) |
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Net Profit Margin (PBT/Sales) |
(%) |
5.13
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0.93 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.57
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0.69 |
(84.68) |
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Return on Investment (ROI) (PBT/Networth) |
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1.18
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0.41 |
1.22 |
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Debt Equity Ratio (Total Liability/Networth) |
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12.86
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58.23 |
(2.49) |
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Current Ratio (Current Asset/Current Liability) |
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2.34
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1.43 |
0.66 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
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Sundry Creditors |
3.857 |
2.618 |
0.321 |
OPERATIONS
During the year ended on 31.03.2010 sales and other
income amounted to Rs. 18.689 millions in the comparison to Rs. 6.286 millions
in the previous year. Company has incurred net profit of Rs.0.664 million in
the comparison to net profit of Rs.0.045 million in the previous year. Company
is taking necessary steps to increase its profitability by imposing strict
control over overheads.
FUTURE PLANS
Company is taking necessary steps to increase
its operations successfully.
FORM 8
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This form is for |
Creation of
charge |
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Corporate identity
number of the company |
U74900PN2007PTC130824 |
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Name of the
company |
SS ENVIROTHERMAL TECHNOLOGIES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
B-111, 1st Floor, Jai Ganesh Vision Complex, Akurdi,
Pune-411035, |
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Type of charge |
Book Debts |
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Particular of
charge holder |
Annasaheb Magar Sahakari Bank Maryadit, E-Mail: iut@eth.net |
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Nature of
description of the instrument creating or modifying the charge |
Hypothecation of
Goods to secure cash credit facility Cash Credit
Facility (Both the agreements
constitute a single charge) |
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Date of
instrument Creating the charge |
11.09.2008 |
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Amount secured by
the charge |
Rs.2.000 Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
12% p.a. Terms of
Repayment: As per sanction
letter of the bank Margin: Book Debts : 50% Stock : 30% Extent and
Operation of the charge: Cash Credit :-
Rs.2.000 Millions |
|
Short particulars
of the property charged |
Hypothecation of
goods current and future stocks of business. |
FIXED ASSETS
·
Building
·
Computer
·
Electrical Fittings
·
Furniture and Fixture
·
Machinery and Tools
·
Temperature Control
·
Mobile Phone
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.49.23 |
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|
1 |
Rs.76.07 |
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Euro |
1 |
Rs.65.06 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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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.