MIRA
INFORM REPORT
|
Report Date : |
08.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
RAJALAKSHMY PACKAGING PRIVATE LIMITED |
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Registered
Office : |
No.45 C, Thamaraikulam Street, Nalavdu Road, Thavalakuppam-605007,
Pondicherry |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
17.11.2008 |
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Com. Reg. No.: |
59-002235 |
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Capital Investment
/ Paid-up Capital : |
Rs. 5.000 Millions |
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CIN No.: [Company Identification
No.] |
U25202PY2008PTC002235 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CHER10117C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Packaging Material for food products such as milk,
oil, atta and Industrial products. |
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No. of Employees
: |
46 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 21000 |
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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. However, 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. |
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. Arun Prasad |
|
Designation : |
General Manager |
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Contact No.: |
91-9842370417 |
|
Date : |
07.09.2011 |
LOCATIONS
|
Registered Office : |
No.45 C, Thamaraikulam Street, Nalavdu Road, Thavalakuppam-605007,
Pondicherry, India |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9842370417 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Area : |
1200 sq. ft |
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Location : |
Owned |
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Corporate Office / Factory : |
R. S. No.:91/6,7, Opposite Tirumampakkam Police Station, Pondy Cuddalore
Main Road, Pillaiyarkuppam, Kirumampakkam-607402, Pondicherry, India |
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Tel. No.: |
91-413-2615445 |
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Fax No.: |
91-413-2615445 |
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Area : |
4500 sq. ft. |
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Location : |
Rented |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mrs. Rajalakshmi Sureshbabu |
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Designation : |
Managing Director |
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Address : |
No.1, Tamaraikulam Street, Thavalakuppam-605007, Pondicherry, India |
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Date of Birth/Age : |
25.10.1973 |
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Date of Appointment : |
17.11.2008 |
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DIN No : |
02403658 |
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Name : |
Madam Hemalatha Moorthy |
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Designation : |
Director |
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Address : |
No.246, cuddalore Road, Thavalakuppam-605007, Pondicherry, India |
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Date of Birth/Age : |
12.08.1988 |
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Date of Appointment : |
05.05.2009 |
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DIN No : |
02695955 |
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Name : |
Madam Latha Ramanujam |
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Designation : |
Director |
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Address : |
No.18, Ward 2, Thatchar Street, Orathur, Villupuram-605601, Tamil
Nadu, India |
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Date of Birth/Age : |
30.11.1982 |
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Date of Appointment : |
05.05.2009 |
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DIN No : |
02704828 |
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Name : |
Madam Nirmala Lakshminarayanan |
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Designation : |
Director |
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Address : |
Orathur, Pondicherry, Villupuram-605601, Tamil Nadu, India |
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Date of Birth/Age : |
28.06.1975 |
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Date of Appointment : |
05.05.2009 |
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DIN No : |
02704851 |
KEY EXECUTIVES
|
Name : |
Mr. Arun Prasad |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
S. Rajalakshmi |
35000 |
|
S. Uma Sankar |
5000 |
|
S. Surech Babu |
10000 |
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Total |
50000 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Packaging Material for food products such as milk,
oil, atta and Industrial products. |
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Imports : |
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Products : |
·
Raw Material (LLDP and LDPE) |
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Countries : |
·
Saudi Arabia |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
L/C, Cash, Credit |
GENERAL INFORMATION
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Customers : |
·
Corporate ·
Government Bodies |
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No. of Employees : |
46 (Approximately) |
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Bankers : |
·
UCO Bank, Main Branch, Opposite to Park,
Pondicherry-605001, India ·
ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M S Ravichandran Chartered Accountant |
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Address : |
No.2, Anthoniar Street, Sorakalpet, Cuddalore-607001, Tamil Nadu,
India |
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Sister Concern : |
·
Yesbal and Company ·
Balaji Store ·
Yesbal Packers ·
Yesbal Flat and Flots |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
50000 |
Equity Shares |
Rs.100/- each |
Rs. 5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
50000 |
Equity Shares |
Rs.100/- each |
Rs. 5.000 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 |
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|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
|
5.000 |
5.000 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
0.321 |
0.000 |
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4] (Accumulated Losses) |
|
0.000 |
(0.006) |
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NETWORTH |
|
5.321 |
4.994 |
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LOAN FUNDS |
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|
|
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1] Secured Loans |
|
9.893 |
1.220 |
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2] Unsecured Loans |
|
2.146 |
0.860 |
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TOTAL BORROWING |
|
12.039 |
2.080 |
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DEFERRED TAX LIABILITIES |
|
0.024 |
0.000 |
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TOTAL |
|
17.384 |
7.074 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
5.567 |
5.516 |
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Capital work-in-progress |
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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 |
|
9.070 |
0.902 |
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Sundry Debtors |
|
6.143 |
0.000 |
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Cash & Bank Balances |
|
0.523 |
0.324 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
0.598 |
0.380 |
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Total
Current Assets |
|
16.334 |
1.606 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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Sundry Creditors |
|
4.203 |
0.110 |
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Other Current Liabilities |
|
0.255 |
0.040 |
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Provisions |
|
0.141 |
0.000 |
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Total
Current Liabilities |
|
4.599 |
0.150 |
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Net Current Assets |
|
11.735 |
1.456 |
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MISCELLANEOUS EXPENSES |
|
0.082 |
0.102 |
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TOTAL |
|
17.384 |
7.074 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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TURNOVER |
|
39.136 |
1.097 |
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EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Financial Expenses |
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36.646 |
1.103 |
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Depreciation |
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Advertising Expenses |
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TOTAL |
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36.646 |
1.103 |
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PROFIT BEFORE
TAX |
|
0.493 |
(0.006) |
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Less |
TAX |
|
0.167 |
0.000 |
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PROFIT AFTER TAX
|
|
0.326 |
(0.006) |
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Earnings Per
Share (Rs.) |
|
6.52 |
(0.12) |
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Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
66.000 |
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The above information has been parted by Mr. Arun Prasad.
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
|
1.26 |
(0.55) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
2.25 |
(0.08) |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.09 |
(0.00) |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
3.13 |
0.45 |
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Current Ratio (Current Asset/Current Liability) |
|
|
3.55 |
10.71 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
Trade Creditors |
|
4.203 |
0.110 |
WORKING RESULTS:
The company earned a Profit after Tax of Rs. 0.326 million during
the year under Report. The directors
hope that the company may earn more profit
during the Coming
Financial years.
FORM 8
|
Corporate
identity number of the company |
U25202PY2008PTC002235 |
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|
Name of the
company |
RAJALAKSHMY
PACKAGING PRIVATE LIMITED |
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|
Address of the
registered office or of the principal place of business in |
No.45 C, Thamaraikulam Street, Nalavdu Road, Thavalakuppam-605007, Pondicherry, India |
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|
This form is for |
Modification of
charge |
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Type of charge |
Immovable
property Book debts Movable property
(not being pledge) |
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Particular of
charge holder |
UCO Bank, Main Branch, Opposite to Park, Pondicherry-605001, India |
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Nature of
instrument creating charge |
1.
Hypothecation
and Book Debts to Secure Demand Cash-Credit. 2.
Agreement
for Extension of Charge by way of hypothecation over Current Assets to secure
Non-Fund based f facilities. |
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Date of instrument
Creating the charge |
09.06.2010 |
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Amount secured by
the charge |
Rs. 15.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest CC BPLR -1 % Presently
12.25% - 1%= 11.25 % p.a on monthly rests. Terms of repayment CC - Payable on Demand Margin CC - 25% on
Stocks and 40% of Book Debts. LC - 10% at the
time of issue of ILC / FLC Extent and operation of the charge CC - 1st Charge by
way of hypothecation on the entire stocks of the inventory, receivables,
Bills and other chargeable Current Assets of the unit (both present and
future). LC - Exclusive
1st charge by way of hypothecation on the entire stocks of the inventory,
Stocks of Raw materials and Finished goods purchased out of LC amount. Extension of charge of Current Assets.
Bills under letter of Credit endorse in favour of the bank. Application cum
indemnity letter. |
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Short particulars
of the property charged (Including location of the property) |
Primary Security:
The entire stocks of the inventory, receivables, Bills and other chargeable
Current Assets of the unit (both present and future). Primary Security:
The entire stocks of the inventory, Stocks of Raw materials and Finished
goods purchased out of LC amount.
Extension of charge of Current Assets. Bills under letter of Credit. Coll. Security:
Industrial Property situated at R.S.No.92/7 Korrukkumedu,
Thavalakuppam-605007 of S. Rajalakshmi. Area 22073 sq ft Coll. Security: Vacant Plot situated at R.S.No.92/6
Korrukkumedu, Thavalakuppam-605007 of S. Rajalakshmi. Area 13428 sq ft Coll. Security:
Vacant Plot situated at R.S.No.92/7 Korrukkumedu, Thavalakuppam-605007 of S.
Rajalakshmi. Area 22073 sq ft Coll. Security:
Vacant Plot situated at R.S.No.92/7 Korrukkumedu, Sri Gokulam
Nagar,Thavalakuppam-605007 of S. Rajalakshmi. Area 1200 sq ft Coll.
Security: Industrial Land situated at
R.S.No.1/1C2, 1/2B, Azhiur Village, Kandamangalam, Villupuram of S.
Muthulakshmi. Area 0.32.0 Hectare Coll.
Security: Industrial Land situated at
R. S. No. 2/1B, 2/1C1, 2/1E Kandamangalam, Villupuram of S. Prema Area 0.39.5 Hectare |
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Whether any of
the property or interest therein under reference is not registered in the
name of the company. |
Yes |
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If yes, in whose
name it is registers |
S. Rajalakshmi
and others |
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Charge
identification number of the charge to be modified |
10156594 |
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Particulars of
the present modification |
The facility is modified
as detailed below:
|
TRADE REFERENCE:
Pondicherry Co-operative
Milk Producering Union 1, Pondicherry
G K Dairy Private
Limited, Kunbakanam
FIXED ASSETS
·
Furniture and Fittings
·
Electrical and Fittings
·
Plant and Machinery
·
AC Machine
·
Computer and Accessories
·
Software’s
·
Office Equipments
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. 46.02 |
|
|
1 |
Rs. 73.60 |
|
Euro |
1 |
Rs. 64.77 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.