MIRA
INFORM REPORT
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Report Date : |
29.09.2011 |
IDENTIFICATION DETAILS
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Name : |
SUYASH META TECH PRIVATE
LIMITED |
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Registered
Office : |
Plot No. E – 63, MIDC, Satpur, Nashik- 422 007, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
04.08.2010 |
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Com. Reg. No.: |
206252 |
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Capital Investment
/ Paid-up Capital : |
Rs. 10.200 millions |
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CIN No.: [Company Identification
No.] |
U29268MH2010PTC206252 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NSKS13745E |
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PAN No.: [Permanent Account No.] |
AAOCS6139B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Motor Vehicle
Part |
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No. of Employees
: |
55 (Approximately) ( In office 15, factory 40) |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a successor of Suyash Engineering, erstwhile a proprietory
concern. Trade relations are reported as fair. Business is active. Payment
terms are unknown. 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.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (01.04.2011) |
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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
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Name : |
Mr. Umesh Deshpande |
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Designation : |
Account Department |
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Contact No.: |
91-253- 6604599 |
LOCATIONS
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Registered Office / factory : |
Plot No. E – 63, MIDC, Satpur, Nashik- 422 007, |
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Tel. No.: |
91-253- 6604599 / 6563599 |
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Fax No.: |
91-253- 6610389 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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DIRECTORS
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Name : |
Mr. Gunesh Deshpande |
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Designation : |
Director |
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Address : |
Flat No. 12, Revati Omkar Nagar, New Gangapur Road, Nashik- 422 013,
Maharashtra, India |
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Date of Birth/Age : |
07.02.1972 |
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Qualification: |
BE |
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Date of Appointment : |
04.08.2010 |
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Din No: |
01869624 |
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Name : |
Mrs. Sujata Deshpande |
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Designation : |
Director |
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Address : |
Flat No. 12/14, Revati Omkar, Near Neralidar hospital. |
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Date of Birth/Age : |
11.11.1976 |
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Qualification: |
BA |
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Date of Appointment : |
04.08.2010 |
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Din No: |
03087499 |
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KEY EXECUTIVES
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Name : |
Mr. Umesh Deshpande |
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Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Gunesh Deshpande |
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5000 |
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Mrs. Sujata Deshpande |
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5000 |
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Total |
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10000 |
As on 25.03.2011
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List of Allottees |
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No. of Shares
Allotted |
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Mr. Gunesh Deshpande |
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150000 |
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Mrs. Sujata Deshpande |
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150000 |
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Total |
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300000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Motor Vehicle Part |
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Products : |
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Terms : |
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Selling : |
Cash, Credit (60 days) |
GENERAL INFORMATION
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Customers : |
Manufacturing Company
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No. of Employees : |
55 (Approximately) ( In office 15, factory 40) |
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Bankers : |
State Bank of Mid Corporate Group Branch,, Plot No. C-8/1, |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. Milind Kulkarni Chartered Accountant |
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Address : |
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Associates/
Subsidiaries: |
Suyash trading corporation |
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Address: |
Plot No. E-63, MIDC, Satpur, Nashik- 422 007, |
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Activities: |
Trade and Auto Tools |
CAPITAL STRUCTURE
Authorised Capital : Rs. 11.000 millions
Paid-up Capital : Rs. 10.200
millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2011 |
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Sales Turnover |
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65.000 |
Expected Sales ( _2011-2012) : Rs. 80.000 millions
The above information has been parted by Mr.Umesh Deshpande
LOCAL AGENCY FURTHER INFORMATION
Trade References:
- ABB Global
- Rexis Eng
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Check List by
Info Agents |
Available in
Report (Yes / No) |
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Year of Establishment |
Yes |
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Locality of the
firm |
Yes |
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Constitutions
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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Promoter’s
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% |
No |
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Estimation for
coming financial year |
No |
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Capital in the
business |
Yes |
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Details of
sister concerns |
Yes |
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Major suppliers |
Yes |
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Major customers |
Yes |
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Payments terms |
Yes |
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Export/ Import
details (if applicable) |
No |
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Market
information |
-- |
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Litigations that
the firm / promoter involved |
-- |
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Banking Details |
Yes |
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Banking facility
details |
No |
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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 |
-- |
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Last accounts
filed at ROC |
-- |
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Major
Shareholders, if available |
-- |
Bankers Charges
Report as per Registry
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Corporate
identity number of the company |
U29268MH2010PTC206252 |
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Name of the
company |
Suyash Meta Tech
Private Limited |
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Address of the
registered office or of the principal place of business in |
Plot No E-63, MIDC, Satpur, Nashik- 422 007, |
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This form is for |
Creation
of charge |
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Type of charge |
Book debts,
Moveable property |
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Particular of
charge holder |
State Bank of Mid Corporate Group Branch,, Plot No. C-8/1, E-mail: midcorporate@sbhyd.co.in |
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Nature of
instrument creating charge |
Agreement of Loan
Cum Hypothecation |
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Date of
instrument Creating the charge |
15.10.2010 |
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Amount secured by
the charge |
Rs.22.985
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
: Working Captical-
Cash credit 12.75% Monthly Rest. Sme credit plus 12.75% Monthly Rest. Term
loan 13.25% Monthly Rest. Terms of
Repayment : Term Loan1 -18
Monthly Installments of Rs. 0.033 million Starting from 31.10.2010 Term Loan2 -38
Monthly Installments of Rs. 0.051 million Starting from 31.10.2010 Term Loan3 -35
Monthly Installments of Rs. 0.041 million Starting from 31.10.2010 All the financial
facilities are payable on demand. Margin : As per Bank
Policy Extent and
Operation of the charge : The Charge shall
operate for due repayment of total financial limit of Rs. 22.985
millions(cash credit: Rs. 17.50 millions, Sme credit plus: Rs 1.50 millions,
term loan1: Rs.0.60 millions, Term loan2: Rs. 1.93 millions, term loan3: Rs.
1.45 millions) Plus interest, charges or any other cost as per banks rule
from time to time on the securities offered by company as per schedule B of
the agreement of loan cum hypothecation Dt. 15.10.2010 |
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Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
(i)
Raw
material, Stock in Process ,Work in progress and finished goods of precision
components for engineering, Electrical and Automobile flanges, pipe
bending, head forming, sub assemblies,
pressed (ii)
Components
from 20-210 Ton presses, Precision component machining located at Plot No. E-63, MIDC satpur, Nashik- 422 007
or any other location of company. (iii)
Moveable
plant and machinery and vehicles as per annexure 1 Located at Plot No.E-63, MIDC satpur, Nashik- 422 007
or any other location of company. |
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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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Constitutions
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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Promoter’s
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% |
No |
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Estimation for
coming financial year |
No |
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Capital in the
business |
Yes |
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Details of
sister concerns |
Yes |
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Major suppliers |
Yes |
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Major customers |
Yes |
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Payments terms |
Yes |
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Export/ Import
details (if applicable) |
No |
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Market
information |
-- |
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Litigations that
the firm / promoter involved |
-- |
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Banking Details |
Yes |
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Banking facility
details |
No |
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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 |
-- |
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Last accounts
filed at ROC |
-- |
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Major
Shareholders, if available |
-- |
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.48.91 |
|
|
1 |
Rs.76.53 |
|
Euro |
1 |
Rs.66.43 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
28 |
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 |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.