MIRA
INFORM REPORT
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Report Date : |
08.09.2011 |
IDENTIFICATION DETAILS
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Name : |
VAM POLY PLAST PRIVATE LIMITED |
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Registered
Office : |
5-3/28/25, Sri Sai Nagar Colony, Boduppal, |
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Country : |
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Financials (as
on) : |
31.03.2007 |
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Date of
Incorporation : |
03.05.1999 |
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Com. Reg. No.: |
031615 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.500 Million |
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CIN No.: [Company Identification
No.] |
U24134AP1999PTC031615 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDV02216E |
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PAN No.: [Permanent Account No.] |
AABCV3436B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of the Pulined and PU Coated Rolls. |
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No. of Employees : |
20 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 7000 |
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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. The
management has not filed the financials of the company with the government departments
since 2007. 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.
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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 – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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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
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Name : |
Mr. Satyanarayana |
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Designation : |
Director |
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Contact No.: |
91-9848050625 |
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Date : |
12.08.2011 |
LOCATIONS
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Registered Office/Factory : |
5-3/28/25, Sri Sai Nagar Colony, Boduppal, |
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Tel. No.: |
91-40-27150666 / 27155757 |
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Mobile No. : |
91-9848050625 (Mr. Satyanarayana) |
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Fax No.: |
91-40-27150888 |
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E-Mail : |
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Website : |
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Area : |
6000 yards |
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Location : |
Owned |
DIRECTORS
As on 29.09.2007
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Name : |
Mr. N Satyanarayana |
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Designation : |
Director |
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Address : |
No.6-1-133/13, Padmara, Secunderabad – 500025, |
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Date of Birth/Age : |
01.06.1954 |
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Qualification : |
B.com |
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Date of Appointment : |
03.05.1999 |
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Name : |
Mrs. N Shakuntala |
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Designation : |
Director |
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Address : |
No.6-1-133/13, Padmara, Secunderabad – 500025, |
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Date of Birth/Age : |
11.06.1963 |
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Qualification : |
BA |
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Date of Appointment : |
03.05.1999 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2007
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Names of Shareholders |
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No. of Shares |
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2500 |
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2500 |
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Total |
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5000 |
As on 29.09.2007
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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 |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of the Pulined and PU Coated Rolls. |
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Products : |
Vamthane (Polyurethane) Castable Elastomer
and other PU Components such as: ·
Wagon Tipplers and Hydraulic Seals ·
Rigid PU Foam Moulded Pipe Sections ·
Pump Liners / Screens for Slurring and Coal
Handling Plants ·
FRP Products ·
PU Lined Wheels for Material Handling Equipments ·
Different Hydroclone Parts ·
PU Lined Rollers for Steel Plants and Paper Mills
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Exports : |
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Products : |
Pulined and PU Coated Rolls |
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Countries : |
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Terms : |
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Purchasing : |
Depend |
GENERAL INFORMATION
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Customers : |
·
End Users ·
JSW ·
Tata Steel ·
SAIL ·
Jindal Group ·
Essar Group ·
Sesa Group ·
International Combustion ·
Mcnally Bharat and Many more |
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No. of Employees : |
20 Approximately |
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Bankers : |
Canara Bank, |
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Facilities : |
OD - Rs.3.500 millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B B Narsinghrao and Company Chartered Accountant |
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Sister Concern : |
Ram Industries |
CAPITAL STRUCTURE
AS ON 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
AS ON 31.03.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.984 |
0.899 |
0.898 |
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3] Reserves & Surplus |
0.311 |
0.375 |
0.371 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.795 |
1.774 |
1.769 |
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LOAN FUNDS |
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1] Secured Loans |
3.082 |
2.822 |
1.212 |
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2] Unsecured Loans |
3.251 |
2.971 |
3.734 |
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TOTAL BORROWING |
6.333 |
5.793 |
4.946 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.011 |
0.057 |
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TOTAL |
8.128 |
7.578 |
6.772 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.945 |
1.179 |
1.320 |
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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 |
5.664
|
6.929 |
3.905 |
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Sundry Debtors |
1.410
|
1.553 |
1.319 |
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Cash & Bank Balances |
0.063
|
0.083 |
0.107 |
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Other Current Assets |
0.961
|
0.000 |
0.000 |
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Loans & Advances |
0.113
|
1.442 |
1.622 |
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Total
Current Assets |
8.211
|
10.007 |
6.953 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.174
|
0.825 |
1.214 |
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Other Current Liabilities & Provisions |
0.887
|
2.783 |
0.289 |
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Total
Current Liabilities |
1.061
|
3.608 |
1.503 |
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Net Current Assets |
7.150
|
6.399 |
5.450 |
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MISCELLANEOUS EXPENSES |
0.033 |
0.000 |
0.002 |
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TOTAL |
8.127 |
7.578 |
6.772 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SALES |
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Income and Other Income |
10.028 |
9.633 |
9.630 |
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TOTAL (A) |
10.028 |
9.633 |
9.630 |
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Less |
EXPENSES |
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TOTAL EXPENSES
(B) |
9.079 |
8.701 |
8.928 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.949 |
0.932 |
0.702 |
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Less |
FINANCIAL
EXPENSES (D) |
0.482 |
0.459 |
0.241 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.467 |
0.473 |
0.461 |
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Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
0.313 |
0.325 |
0.311 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.154 |
0.148 |
0.150 |
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Less |
TAX (I) |
0.000 |
0.139 |
0.062 |
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PROFIT AFTER TAX
(G-I) (J) |
0.154 |
0.009 |
0.088 |
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Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sales Turnover (Approximately) |
40.000 |
12.000 |
12.000 |
The above information has been parted by Mr. Satyanarayana
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.53
|
0.09 |
0.91 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.53
|
1.53 |
1.55 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.68
|
1.32 |
1.81 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.08 |
0.08 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.12
|
5.29 |
3.64 |
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Current Ratio (Current Asset/Current Liability) |
|
7.73
|
2.77 |
4.62 |
LOCAL AGENCY FURTHER INFORMATION
NOTE
The registered office address of the company has been shifted from
No.6-1-133/13, Padmara, Secunderabad – 500025,
TRADE REFERENCES
·
Tata Group
·
Essar Group
FORM 8
|
Corporate
identity number of the company |
U24134AP1999PTC031615 |
|
Name of the
company |
VAM POLY PLAST PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
5-3/28/25, Road No.3, Sri Nagar Colony, Boduppal, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book Debts Movable Property Immovable
Property |
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Particular of charge
holder |
CANARA BANK |
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Nature of
instrument creating charge |
|
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Date of instrument
Creating the charge |
06.05.2010 |
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Amount secured by
the charge |
Rs.3.500 Millions
|
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 13.75% p.a,
Floating rate compounding Monthly Terms of
Repayment Limits tenable up
to 05.04.2011 Margin a) 25% on stocks b) 25% by way of our term deposits for BGs
issued Extent and
Operation of the charge Extends to the
stocks, raw material, book debts. |
|
Short particulars
of the property charged |
Hypothecation of
Plant and Machinery Continued EMT of
landed property at Plot No.111, Hayatnagar, RR dt Continued EMT of
Residential House Property situated at Gharonda Triveni Apartments, Padmarao
Nagar, Secunderabad - 500025 |
|
Date of
instrument modifying the charge |
23.06.2005 |
|
Particulars of
the present modification |
Particulars Present Modification 1.OCC 20.00 30.00 2.BG 5.00 5.00 3.CDE 5.00 0.00 |
FIXED ASSETS
·
Furniture and Fixtures
·
Plant and Machinery
·
Moulds and Dies
·
Powercen
·
Vehicles
·
Printer
·
Computers
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.73.61 |
|
Euro |
1 |
Rs.64.78 |
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 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.