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Report Date : |
09.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
SEINUMERO NIRMAN PRIVATE LIMITED |
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Registered
Office : |
Plot No 7,8, Gat No. 207, Shindewadi, Pune - 412 205, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
01.04.1997 |
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Com. Reg. No.: |
11-106996 |
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Capital Investment
/ Paid-up Capital : |
Rs.8.773 Millions |
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CIN No.: [Company Identification
No.] |
U31909MH1997PTC106996 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES15034F |
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PAN No.: [Permanent Account No.] |
AABCP7335H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Automotive Component |
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No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
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 140000 |
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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. There appears
some accumulated losses recorded by the company, 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 slight 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. Parag Mengale |
|
Designation : |
Director |
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Contact No.: |
91-9850818037 |
|
Date : |
27.03.2012 |
LOCATIONS
|
Registered Office / Head Office : |
Plot No 7,8, Gat No. 207, Shindewadi, Pune - 412 205, |
|
Tel. No.: |
91-2113-252542 / 44 |
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Mobile No.: |
91-9850818037 (Mr. Parag Mengale) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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GGW Plant: |
Gat No 659/2, Plinth No 1 and 2, Gogalwadi, Pune - 412
205, |
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Velu Plant: |
Gat Number 862, Mouje Velu, Velu, Pune - 412 205, |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Parag Mengale |
|
Designation : |
Director |
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Address : |
1st Nirmal, Mayur Colony, Kothrud, Pune – 411038, |
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Date of Appointment : |
26.05.2006 |
|
DIN No.: |
00963728 |
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|
Name : |
Mr. Kiran Kulkarni |
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Designation : |
Director |
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Address : |
8200, Church Villa Rd., |
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Date of Birth/Age : |
21.03.1951 |
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Date of Appointment : |
20.02.2006 |
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DIN No.: |
00889005 |
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Name : |
Ms. Audrey Koocher |
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Designation : |
Director |
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Address : |
31, |
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Date of Birth/Age : |
12.01.1961 |
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Date of Appointment : |
20.02.2006 |
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DIN No.: |
02561587 |
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Name : |
Mr. Tushar Mengale |
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Designation : |
Director |
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Address : |
Nirmal BLD, |
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Date of Birth/Age : |
28.03.1980 |
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Date of Appointment : |
21.08.2009 |
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DIN No.: |
02433646 |
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Name : |
Mr. Chintamani Mengale |
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Designation : |
Director |
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Address : |
Nirmal BLD, |
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Date of Birth/Age : |
18.09.1951 |
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Date of Appointment : |
21.08.2009 |
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DIN No.: |
01507891 |
KEY EXECUTIVES
|
Name : |
C. S. Kelkar and Associates |
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Designation : |
Company Secretaries |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Medha Mengale |
|
49511 |
|
Kalyani Mengale |
|
31123 |
|
Parag Mengale |
|
142192 |
|
Chintamani L Mengale |
|
54494 |
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Nine Time INC, |
|
392810 |
|
Anil Shah |
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1 |
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Vilas Rukari |
|
1 |
|
Madan Mengale |
|
105642 |
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Vasant Pokharkar |
|
390 |
|
Yatin Suresh Tambe |
|
375 |
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Vijay Warule |
|
390 |
|
Ramdas Panhale |
|
390 |
|
Girija Naik |
|
1 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
44.77 |
|
Directors or relatives of Directors |
55.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automotive Component |
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Products : |
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Exports : |
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Products : |
Automotive Component |
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Countries : |
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Terms : |
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Selling : |
L/C / Cash / Credit (30 Days / 60 Days) |
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Purchasing : |
Cash / Credit (30 Days / 60 Days) |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
300 (Approximately) |
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Bankers : |
Punjab and Sind Bank, 229/230, Saraswati Sadan, |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Nishikant V. Badwe Chartered Accountant |
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Address : |
6, Harmony House, 797, |
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Tel. No.: |
91-20-25674412 |
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Fax No.: |
91-20-25677646 |
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E-Mail : |
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PAN.: |
ABGP9014Q |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
877318 |
Equity Shares |
Rs.10/- each |
Rs.8.773
Millions |
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|
|
|
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
8.773 |
8.773 |
2.183 |
|
|
2] Share Application Money |
0.000 |
0.000 |
8.594 |
|
|
3] Reserves & Surplus |
36.096 |
36.096 |
32.483 |
|
|
4] (Accumulated Losses) |
(7.889) |
(15.417) |
(24.230) |
|
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NETWORTH |
36.980 |
29.452 |
19.030 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
51.488 |
54.939 |
61.205 |
|
|
2] Unsecured Loans |
67.501 |
65.119 |
67.090 |
|
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TOTAL BORROWING |
118.989 |
120.058 |
128.295 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
155.969 |
149.510 |
147.325 |
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
109.503 |
92.427 |
102.786 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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INVESTMENT |
11.251 |
11.676 |
11.676 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
13.939
|
9.643 |
11.922 |
|
|
Sundry Debtors |
51.041
|
48.079 |
36.401 |
|
|
Cash & Bank Balances |
2.297
|
0.503 |
1.243 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
39.195
|
38.402 |
31.840 |
|
Total
Current Assets |
106.472
|
96.627 |
81.406 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
40.001
|
34.187 |
34.989 |
|
|
Other Current Liabilities |
25.616
|
12.323 |
10.717 |
|
|
Provisions |
5.793
|
4.938 |
3.142 |
|
Total
Current Liabilities |
71.410
|
51.448 |
48.848 |
|
|
Net Current Assets |
35.062
|
45.178 |
32.558 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.153 |
0.229 |
0.305 |
|
|
|
|
|
|
|
|
TOTAL |
155.969 |
149.510 |
147.325 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
239.920 |
147.810 |
122.794 |
|
|
|
Other Income |
1.834 |
2.152 |
2.557 |
|
|
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TOTAL |
241.754 |
149.962 |
125.351 |
|
|
|
|
|
|
|
|
|
|
TOTAL EXPENSES |
232.226 |
139.498 |
145.090 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
9.528 |
10.464 |
(9.142) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.000 |
1.650 |
0.318 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
7.528 |
8.814 |
(9.460) |
|
|
|
|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
58.802 |
36.110 |
|
|
TOTAL EARNINGS |
NA |
58.802 |
36.110 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.58 |
-- |
-- |
|
Expected Sales (2011-12) : Rs.290.000 Millions
The above information has been parted by Mr. Parag Mengale
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.11
|
5.88 |
(7.55) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.97
|
7.08 |
(7.44) |
|
|
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|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.41
|
5.52 |
(4.96) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.36 |
(0.48) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
7.04
|
5.82 |
9.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.49
|
1.88 |
1.67 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
40.001
|
34.187 |
34.989 |
|
Total |
40.001
|
34.187 |
34.989 |
CONTINGENT
LIABILITY NOT PROVIDED FOR
Rs.
In Millions
|
Particulars |
31.03.2010 |
31.03.2009 |
|
In respect of Income Tax |
0.490 |
0.000 |
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last two years |
Yes |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
-- |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
-- |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U31909MH1997PTC106996 |
|
Name of the
company |
SEINUMERO NIRMAN PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No 7,8, Gat No. 207, Shindewadi, Pune - 412 205, |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property Movable property (not being pledge) |
|
Particular of
charge holder |
Punjab and Sind Bank, 229/230, Saraswati Sadan, |
|
Nature of
instrument creating charge |
Deed of charge dated 27th February, 2012. Hypothecation charge / Deed of Assignment Agreement dt.27/02/2012 |
|
Date of
instrument Creating the charge |
27.02.2012 |
|
Amount secured by
the charge |
Rs.89.114 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 1. For term loan 1 and 3, LAP and cash credit BR+3%+TP(present BR10.75%). 2. PC/PS of CC as per HOFEX guidelines 3. Non Funded facility-BG-financial 3% +250/-+service tax performance 2%+250+service tax Terms of Repayment 1. Term loan 1 to be repayable as per sanctioned terms of Rupee Co-op Bank Limited 2. LAP 1 and 2 to be repayable in 36 EMI and interest to be serviced as and when charged 3.Term loan III to be repayable in 60 months with EMI of Rs. 0.267 Million and interest to be serviced as and when charged 4. CC to be repayable on demand 5. PC/PS of CC to be repayable on exports/shipment of goods/on realization of export bill 6. Non funded facility-Bank Guarantee to be repayable on or before expiry of bank guarantee Margin 1. 30% on term loan 1 and III 2. 50% LAP 1 and 2 3. Stock 25% , Book debts 35% on cash credit 4. PC-10% FOUBP/FOBP-10% on PC/PS of CC 5. Cash margin 15% on non funded facility- Bank guarantee Extent and
Operation of the charge First Charge and Exclusive charge on all the Fixed Assets and Current Assets except Machinery Hypothecated to Intex Capital Limited |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Flat property bearing No.2 admeasuring 550 sq.ft. situated at A Building, Raut Baug, land bearing survey No.31/6/1,31/6/2,2-8+9+10B+11,2-10/A at village Dhankawadi, Tal. Haveli, Dist. Pune. Flat property bearing No.14 admeasuring 575 sq.ft. situated at A Building, Raut Baug, land bearing survey No.31/6/1,31/6/2,2-8+9+10B+11,2-10/A at village Dhankawadi, Tal. Haveli, Dist. Pune. All that piece and parcel of industrial land bearing Plinth No.2,3,4,5 and 6 admeasuring 99028 sq.ft. along with industrial sheds situated at Gat No.659/2 at village Gogalwadi, Tal. Haveli, Pune. All those pieces and parcel of land situated at Plot No.6, 7 and 8 admeasuring 22065.40 sq.ft. alongwith industrial shed at Gat No.207 situated at village Shindewadi, Tal. Bhor, Dist. Pune. 1. Hypothecation of Plant and Machinery (Existing). 2. Hypothecation Of machinery (to be purchased). 3. Hypothecation of stock and Book Debts and current assets of company (present and future). 4. Hypothecation of stock and current assets of the company (present and future) and export bills |
Fixed Assets
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.51.05 |
|
|
1 |
Rs.81.09 |
|
Euro |
1 |
Rs.67.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
|
32 |
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.