MIRA
INFORM REPORT
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Report Date : |
13.10.2011 |
IDENTIFICATION DETAILS
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Name : |
LFW HAIR PRIVATE LIMITED |
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Registered
Office : |
001, Shalyavan Apartment, 14/B, Mahalaxmi Society, Mahalaxmi Char
Rasta, Paldi, Ahmedabad – 380 007, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
19.01.2011 |
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Com. Reg. No.: |
04-63716 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 million |
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CIN No.: [Company Identification
No.] |
U24246GJ2011PTC063716 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter of Wigs and Import of Raw Material and
Machinery. |
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No. of Employees
: |
4 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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- |
NB |
New Business |
- |
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Maximum Credit Limit : |
USD 400 |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and yet to commence its commercial business activities.
As claim by Mr. Ruchir Patel, Former Director that the company will starts
its business activities from November, 2011. Payments are unknown. The company can be considered for business dealings on a safe and
secured trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
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
|
Name : |
Mr. Ruchir Patel |
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Designation : |
Former Director |
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Contact No.: |
91-9638433889 |
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Date : |
13.10.2011 |
LOCATIONS
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Registered Office : |
001, Shalyavan Apartment, 14/B, Mahalaxmi Society, Mahalaxmi Char
Rasta, Paldi, Ahmedabad – 380 007, |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9638433889 (Mr. Ruchir Patel) |
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Fax No.: |
Not Available |
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E-Mail : |
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Location : |
Owned |
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Factory : |
Swastik Ware House, |
DIRECTORS
As on 25.09.2011
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Name : |
Mr. Hemendra Mahendrabhai Patel |
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Designation : |
First Director |
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Address : |
Modhvado, Near Tuljamata, At Umreth, Anand – 388 220, |
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Date of Birth/Age : |
24.02.1975 |
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Date of Appointment : |
19.01.2011 |
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DIN No.: |
03363320 |
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Name : |
Ms. Vaishali Ruchir Patel |
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Designation : |
Director |
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Address : |
55, |
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Date of Birth/Age : |
15.03.1978 |
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Date of Appointment : |
25.07.2011 |
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DIN No.: |
03582286 |
KEY EXECUTIVES
|
Name : |
Mr. Ruchir Patel |
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Designation : |
Former Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2011
|
Names of Shareholders |
No. of Shares |
|
Hemendra Mahendrabhai Patel |
50 |
|
Ruchir Niranjanbhai Patel |
9950 |
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Total |
10000 |
As on 25.09.2011
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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 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter of Wigs and Import of Raw Material and
Machinery. |
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Imports : |
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Products : |
Raw Material and Machinery |
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Countries : |
·
·
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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No. of Employees : |
4 (Approximately) |
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Bankers : |
HDFC Bank, Ahmedabad, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Parikh and Company Chartered Accountants |
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Address : |
001, Ground Floor, Shikhidhwaj Apartment, Near |
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Tel. No.: |
91-79-26643812 |
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Mobile No.: |
91-9228114981 |
CAPITAL STRUCTURE
As on 25.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2011 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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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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0.000 |
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NETWORTH |
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0.100 |
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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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1.909 |
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TOTAL BORROWING |
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1.909 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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2.009 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.852 |
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Capital work-in-progress |
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0.000 |
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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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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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0.772 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.000 |
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Total
Current Assets |
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0.772 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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0.318 |
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Other Current Liabilities |
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0.000 |
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Provisions |
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0.020 |
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Total
Current Liabilities |
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0.338 |
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Net Current Assets |
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0.434 |
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MISCELLANEOUS EXPENSES |
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0.723 |
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TOTAL |
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2.009 |
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Expected Sales (2011-2012) : Rs.10.000 millions
Note : Manufacturing Unit
will start by November, 2011.
The above information has been parted by Mr. Ruchir Patel
KEY RATIOS
|
PARTICULARS |
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31.03.2011 |
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Debt Equity Ratio (Total Liability/Networth) |
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22.47 |
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Current Ratio (Current Asset/Current Liability) |
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2.28 |
LOCAL AGENCY FURTHER INFORMATION
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Sr. No. |
Check List by Info Agents |
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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 one year |
YES |
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12. |
Profitability for last three years |
NO |
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13. |
Reasons for variations <> 20% |
NO |
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14. |
Estimation for coming financial year |
NO |
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15. |
Capital in the business |
YES |
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16. |
Details of sister concerns |
-- |
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17. |
Major Suppliers |
NO |
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18. |
Major Customers |
NO |
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19. |
Payment terms |
YES |
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20. |
Export / Import details (is applicable) |
YES |
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21. |
Market information |
-- |
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22. |
Litigation that the firm / promoter involved
in |
-- |
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23. |
Banking Details |
YES |
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24. |
Banking facility details |
NO |
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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 |
NO |
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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, is available |
-- |
FINANCIAL
HIGHLIGHTS
The Company has not commenced the commercial operation till 31st
March, 2011, so Profit and Loss Account of the Company for the Period Ended 31st
March, 2011 is showing Nil Incomes and Expenses.
FIXED ASSETS
·
Motor Car
·
Computer and Printers
·
Air Condition
·
Twin Needle Machine
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.49.24 |
|
|
1 |
Rs.76.80 |
|
Euro |
1 |
Rs.67.17 |
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.