MIRA
INFORM REPORT
|
Report Date : |
15.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
COMPEX TECHNOLOGIES PRIVATE LIMITED |
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Registered
Office : |
4th Floor, 404, Regency Plaza, Opposite Rahul Tower, Anand Nagar
Road, Satellite, Ahmedabad-380015, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
26.03.1996 |
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Com. Reg. No.: |
04-029156 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.122 Million |
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CIN No.: [Company Identification
No.] |
U30009GJ1996PTC029156 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Dealer and Distributor for Computer Peripherals. |
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No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
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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 8000 |
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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 a relatively small company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for 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.
INFORMATION PARTED BY
|
Name : |
Mr. Ramesh Modi |
|
Designation : |
Account Executive |
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Contact No.: |
91-79-26933070 |
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Date : |
15.10.2011 |
LOCATIONS
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Registered Office : |
4th Floor, 404, Regency Plaza, Opposite Rahul Tower, Anand Nagar
Road, Satellite, Ahmedabad-380015, Gujarat, India |
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Tel. No.: |
91-79-26933070 / 71 / 72 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Dilipkumar Sureshchandra Gandhi |
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Designation : |
Director |
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Address : |
A-503, Chinmay Crystal Boadakdev, Ahmedabad-380015, Gujarat, India |
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Date of Birth/Age : |
17.08.1965 |
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Date of Appointment : |
23.03.1996 |
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DIN No.: |
00935504 |
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Name : |
Ms. Binal Dilipbhai Gandhi |
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Designation : |
Director |
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Address : |
A-503, Chinmay Crystal Boadakdev, Ahmedabad-380015, Gujarat, India |
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Date of Birth/Age : |
07.08.1969 |
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Date of Appointment : |
26.03.1996 |
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DIN No.: |
01244828 |
KEY EXECUTIVES
|
Name : |
Mr. Ramesh Modi |
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Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Dilipkumar Sureshchandra Gandhi |
7943 |
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Binal Dilipbhai Gandhi |
4277 |
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Total |
12220 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealer and Distributor for Computer Peripherals. |
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Terms : |
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Selling : |
Cash, Credit (30 days) |
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Purchasing : |
Cash, Credit (30 days) |
GENERAL INFORMATION
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Customers : |
·
Wholesalers ·
Retailers ·
End Users ·
Corporate |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
·
Nutan Nagarik Sahakari Bank Limited, Central
Office, Near Samatheshwar Mahadevji, Near Law Garden, Ellisbridge,
Ahmedabad-380006, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B. J. Patel and J. L. Shah Chartered Accountants |
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Address : |
D-7, 8th Floor, “Sumeru”, Near Primal Crossing Paldi,
Ahmedabad-380007, Gujarat, India |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
12220 |
Equity Shares |
Rs.10/- each |
Rs. 0.122
Million |
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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 |
0.122 |
0.122 |
0.122 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.906 |
1.790 |
1.635 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.028 |
1.912 |
1.757 |
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LOAN FUNDS |
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1] Secured Loans |
1.933 |
0.170 |
0.931 |
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2] Unsecured Loans |
0.765 |
0.550 |
0.489 |
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TOTAL BORROWING |
2.698 |
0.720 |
1.420 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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STATUTORY LIABILITIES |
0.358 |
0.086 |
0.069 |
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TOTAL |
5.084 |
2.718 |
3.246 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.104 |
0.570 |
0.617 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.072 |
0.025 |
0.025 |
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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 |
2.290
|
0.850 |
1.078 |
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Sundry Debtors |
4.079
|
3.417 |
1.654 |
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Cash & Bank Balances |
0.587
|
0.111 |
0.189 |
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Other Current Assets |
0.000
|
0.000 |
0.025 |
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Loans & Advances |
0.275
|
0.377 |
0.784 |
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Total
Current Assets |
7.231
|
4.755 |
3.730 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
3.225
|
2.565 |
1.064 |
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Other Current Liabilities |
0.005
|
0.016 |
0.016 |
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Provisions |
0.093
|
0.051 |
0.046 |
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Total
Current Liabilities |
3.323
|
2.632 |
1.126 |
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Net Current Assets |
3.908
|
2.123 |
2.604 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
5.085 |
2.718 |
3.246 |
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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 |
29.891 |
19.877 |
15.966 |
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PROFIT
BEFORE DEPRECIATION AND TAX |
0.644 |
0.576 |
NA |
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DEPRECIATION/
AMORTISATION |
0.055 |
0.076 |
0.081 |
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PROVISION FOR
TAXATION |
0.124 |
-- |
NA |
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NET PROFIT / (LOSS)
AFTER TAXATION AND DEPRECIATION |
0.116 |
0.155 |
0.349 |
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Earnings Per
Share (Rs.) |
9.49 |
12.68 |
28.56 |
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Particulars |
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|
31.03.2011 |
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Sales Turnover (Approximately) |
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|
40.000 |
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Expected Sales (2011-2012) : Rs. 75.000 Millions.
The above information has been parted by Mr. Ramesh Modi.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.97
|
1.75 |
1.45 |
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Current Ratio (Current Asset/Current Liability) |
|
2.18
|
1.81 |
3.31 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
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Sundry Creditors for Goods |
3.130 |
2.559 |
1.030 |
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Sundry Creditors for Expenses |
0.095 |
0.006 |
0.034 |
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Total |
3.225 |
2.565 |
1.064 |
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Check List by Info Agents |
Available in Report (Yes / No) |
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1. Year of Establishment |
Yes |
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2. Locality of the firm |
Yes |
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3. Constructions 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 |
Yes |
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12. Profitability for last three years |
No |
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13. Reasons for variation <> 20% |
----- |
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14. Estimation for coming financial year |
Yes |
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15. Capital in the business |
No |
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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. Payments terms |
Yes |
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20. Export / Import details |
------ |
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21. Market information |
------ |
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22. Litigations that the firm / promoter involved |
------ |
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23. Banking Details |
Yes |
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24. Banking facility details |
Yes |
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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, if available |
------ |
Note : Registered Office
of the company has been shifted from 303, Sahajanand Complex, Behind Bhagwati
Chambers, Near Swassti K Char Rasta, C G Road, Ahmedabad-380009, Gujarat, India
to the present address w.e.f. 28.08.2010.
FORM 8
|
Corporate
identity number of the company |
U30009GJ1996PTC029156 |
|
Name of the
company |
COMPEX
TECHNOLOGIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
303, Sahajanand Complex, Behind Bhagwati Chambers, Near Swassti K Char
Rasta, C G Road, Ahmedabad-380009, Gujarat, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Others |
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Particular of
charge holder |
Nutan Nagarik Sahakari Bank Limited, Central Office, Near Samatheshwar
Mahadevji, Near Law Garden, Ellisbridge, Ahmedabad-380006, Gujarat, India |
|
Nature of
instrument creating charge |
Supplemental Deed
of Hypothecation of Good and/or Book Debts Dated 18.08.2009 |
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Date of
instrument Creating the charge |
18.08.2009 |
|
Amount secured by
the charge |
Rs. 2.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 12.50% Terms of repayment Limit Are Subject
To Review On Yearly Basis. Margin 30.00% Extent and operation of the charge First and
exclusive charge of bank on all stocks of computers, computers peripherals,
equipments parts etc. And book debts both present and future to secure the
aggregate Cash credit hypo. Stocks and/or book debts limits of Rs. 2.500
millions along with interest, accrued interest, penal interest, commission,
costs and charges etc Other (1) Personal
Guarantee of (1.01) Gitaben Pradipkumar Patel (1.02) all directors of the company. (2) Invest in
shares of the bank an amount of Rs. 0.062 million (3) The Company
to create “Equitable Mortgage” of property situated at 303, Sahajanand,
Complex, C. G. Road, Ahmedabad. |
|
Short particulars
of the property charged (Including location of the property) |
The charge is
created on all stocks of computers, computers peripherals equipments parts
etc. belonging to the borrower company and lying and situated at any place
along with the present and future book-debts outstanding monies, receivable
claims, bills contracts, securities, investment rights of the company. |
|
Charge
identification number of the charge to be modified |
10028074 |
|
Particulars of
the present modification |
The existing
charge for working capital limits of Rs. 1.000 million registered on
23.11.2006 against hypo. of goods and/or book debts is modified on 18.08.2009
by increase of Rs. 1.500 millions such that the aggregate working capital
limits stand to Rs. 2.500 millions. |
FIXED ASSETS
·
Air Condition
·
Aqua guard
·
Eletrica Feeting
·
Fax Machine
·
Furniture
·
Laptop
·
Maruti Zenlx
·
Hudai Car
·
Mobile Phone
·
Printer HP Deskjet
·
Refrigerator
·
Tally Software
·
Telephone Instrument
·
Tea Coffee 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 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. 49.06 |
|
|
1 |
Rs. 77.41 |
|
Euro |
1 |
Rs. 67.72 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
42 |
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.