MIRA
INFORM REPORT
|
Report Date : |
24.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
NAMO PACKAGING SOLUTIONS PRIVATE LIMITED |
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Registered
Office : |
116, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
12.12.2008 |
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Com. Reg. No.: |
18-070150 |
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Capital
Investment / Paid-up Capital : |
Rs.1.469
Millions |
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CIN No.: [Company Identification
No.] |
U21014TN2008PTC070150 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CHEN06631C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Supplier of BOPP Films, Polyester Films, Stretch Films, Packaging Films,
Shrink Films, Hotmelt Adhesive and Sticker Paper. |
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No. of Employees
: |
30 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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. However trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
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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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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. Suresh |
|
Designation : |
Business Development Executive |
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Date : |
22.10.2011 |
LOCATIONS
|
Registered Office : |
116, |
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Tel. No.: |
91-44-25581410 |
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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 |
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Factory 1 : |
Plot No.18, Kannakachatram, G |
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Godown : |
47, |
DIRECTORS
As on 29.09.2009
|
Name : |
Mr. Anil Kumar Jain |
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Designation : |
Director |
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Address : |
116, |
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Date of Birth/Age : |
11.01.1978 |
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Date of Appointment : |
12.12.2008 |
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DIN : |
02276345 |
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Name : |
Mr. Jawarilal Uttamchand |
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Designation : |
Director |
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Address : |
116, |
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Date of Birth/Age : |
21.08.1954 |
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Date of Appointment : |
12.12.2008 |
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DIN : |
02300762 |
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Name : |
Mr. Vinod Kumar Uttamchand |
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Designation : |
Director |
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Address : |
116, |
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Date of Birth/Age : |
04.09.1979 |
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Date of Appointment : |
12.12.2008 |
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DIN : |
02267193 |
KEY EXECUTIVE
|
Name : |
Mr. Suresh |
|
Designation : |
Business Development Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Uttam Chand Jain |
|
5000 |
|
Anil Kumar Jain |
|
5000 |
|
Vinod Kumar Uttamchand |
|
5000 |
|
Best Buildmart Private Limited, |
|
6000 |
|
Pradeep Singh |
|
4500 |
|
Texcity Constructions (Kovai) Private Limited, |
|
6000 |
|
Vidya Sagar |
|
4500 |
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Total |
|
36000 |
As on 15.02.2010
|
Names of Allottees |
|
No. of Shares
Allotted |
|
CEE AAR Decors Private Limited, |
|
8000 |
|
Pearl Probuild ( |
|
9000 |
|
Pawansut Contractors Private Limited, |
|
7000 |
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Herculese Builders [ |
|
20000 |
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Metalcity Constructions (Kovai) Private Limited, |
|
10000 |
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G Anand |
|
4500 |
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|
|
|
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Total |
|
58500 |
As on 29.03.2010
|
Names of Shareholders |
|
No. of Shares |
|
Kuber Buildmart Private Limited, |
|
12500 |
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Sharvaid Construction Private Limited, |
|
12500 |
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Leafill Construction Private Limited, |
|
14875 |
|
MRS Construction Private Limited, |
|
12500 |
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Total |
|
52375 |
As on 29.09.2009
|
Equity Share
Break up Category |
Percentage |
|
Bodies corporate |
33.00 |
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Directors or relatives of Directors |
42.00 |
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Other top fifty shareholders |
25.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Supplier of BOPP Films, Polyester Films, Stretch Films, Packaging
Films, Shrink Films, Hotmelt Adhesive and Sticker Paper. |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Purchasing : |
Depend up on Client |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
OEM’s
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No. of Employees
: |
30 [Approximately] |
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Bankers : |
Punjab National Bank, Parshwakkan Branch |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
A Lalith and Company Chartered Accountants |
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Address : |
19/20, |
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PAN : |
ABBPL2283J |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
146,875 |
Equity Shares |
Rs.10/- each |
Rs.1.469
Millions |
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AS ON 29.09.2010
Authorised Capital : Rs.10.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.2.606 Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
|
1.469 |
0.360 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
11.015 |
1.890 |
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4] (Accumulated Losses) |
|
0.000 |
[0.062] |
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NETWORTH |
|
12.484 |
2.188 |
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LOAN FUNDS |
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1] Secured Loans |
|
0.000 |
0.000 |
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2] Unsecured Loans |
|
0.900 |
0.188 |
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TOTAL BORROWING |
|
0.900 |
0.188 |
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DEFERRED TAX LIABILITIES |
|
0.001 |
0.000 |
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TOTAL |
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13.385 |
2.376 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
0.074 |
0.000 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
6.750 |
0.748 |
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Sundry Debtors |
|
6.067 |
1.762 |
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Cash & Bank Balances |
|
0.005 |
0.094 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
1.467 |
0.434 |
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Total
Current Assets |
|
14.289 |
3.038 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
|
0.159 |
0.695 |
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Other Current Liabilities |
|
0.836 |
0.108 |
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Provisions |
|
0.089 |
0.000 |
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Total
Current Liabilities |
|
1.084 |
0.803 |
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Net Current Assets |
|
13.205 |
2.235 |
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MISCELLANEOUS EXPENSES |
|
0.106 |
0.141 |
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TOTAL |
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13.385 |
2.376 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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TURNOVER |
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19.700 |
1.730 |
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PROFIT / LOSS
BEFORE TAX |
|
0.346 |
(0.062) |
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Less |
TAX |
|
0.090 |
0.000 |
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PROFIT /
LOSS AFTER TAX |
|
0.256 |
(0.062) |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(0.062) |
NA |
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BALANCE CARRIED
TO THE B/S |
|
0.194 |
(0.062) |
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Earnings/[Loss]
Per Share (Rs.) |
|
1.74 |
-- |
|
Particulars |
|
31.03.2011 |
|
Sales Turnover [Approximately] |
|
80.000 [Due to
Expansion of Business ] |
The above information has been parted by Mr. Suresh [Business Development Executive].
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
2.41 |
(2.05) |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.03 |
(0.03) |
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Debt Equity Ratio (Total Liability/Networth) |
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|
0.16 |
0.45 |
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Current Ratio (Current Asset/Current Liability) |
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|
13.16 |
3.78 |
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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Construction of the firm |
Yes |
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Premises details |
Yes |
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Type of Business |
Yes |
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Line of Business |
Yes |
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Promoters 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
three years |
Yes |
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Profitability for last
three years |
No |
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Reasons for variation
<> 20% |
Yes |
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Estimation for coming
financial year |
No |
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Capital the business |
No |
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Details of sister
concerns |
No |
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Major Suppliers |
Yes |
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Major Customers |
Yes |
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Payment Terms |
Yes |
|
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 |
- |
|
Conduct of the banking
account |
- |
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Buyer visit details |
- |
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Financials, if provided |
No |
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Incorporation details, if
applicable |
- |
|
Last accounts filed at
ROC |
- |
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Major Shareholders, if
applicable |
- |
Trade References :
- Shine Flexible
- Cosmo Films Limited
- N G Paper Industries
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.50.06 |
|
|
1 |
Rs.79.15 |
|
Euro |
1 |
Rs.69.03 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
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 |
- |
Maximum Credit
Limit : USD 49000
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.