|
Report Date : |
17.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHREE RUBBERPLAST COMPANY PRIVATE LIMITED |
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|
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Registered
Office : |
201/C, 2nd
Floor, The Platinum, Juhu Lane, Andheri (West), Mumbai – 400 058, |
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Country : |
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|
|
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
29.11.1990 |
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Com. Reg. No.: |
11-059216 |
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Capital
Investment / Paid-up Capital : |
Rs.1.000
million |
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|
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CIN No.: [Company Identification
No.] |
U25110MH1990PTC059216 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS56714A |
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PAN No.: [Permanent Account No.] |
AADCS8220J |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Plastic Packaging Materials. |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 141000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having satisfactory track. Financial position of the
company appears to be good. Trade relations are
reported as decent. Business is active. Payments are reported to be regular
and as per commitments. The company can
be considered good for business dealings at usual trade terms and conditions.
|
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Shrenik R. Dalal |
|
Designation : |
Director |
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Contact No.: |
91-9821051431 |
|
Date : |
14.08.2012 |
LOCATIONS
|
Registered Office : |
201/C, 2nd
Floor, The Platinum, Juhu Lane, Andheri (West), Mumbai – 400 058, |
|
Tel. No.: |
91-22-26256841/ 26256842/ 26286674 |
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Mobile No.: |
91-9821051431 (Mr. Shrenik R. Dalal) |
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Fax No.: |
91-22-26286675 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory 1 : |
5/6/7/8, MLK No.2, |
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Tel. No.: |
91-250-6582281/ 83 |
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Fax No.: |
91-250-2451813 |
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Factory 2 : |
Rainbow Industrial Estate, Building No.1, Gokhiware, |
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Tel. No.: |
91-250-6525371/ 72 |
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Fax No.: |
91-250-2023360 |
DIRECTORS
As on 26.09.2011
|
Name : |
Mr. Shrenik Ramanlal Dalal |
|
Designation : |
Director |
|
Address : |
111/112, |
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Date of Birth/Age : |
31.12.1949 |
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Date of Appointment : |
03.12.1990 |
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DIN No.: |
00725297 |
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Passport No.: |
K3532342 |
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|
|
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Name : |
Mrs. Surekha Shrenik Dalal |
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Designation : |
Director |
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Address : |
111/112, |
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Date of Birth/Age : |
14.12.1956 |
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Date of Appointment : |
31.03.2002 |
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DIN No.: |
01112354 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Shrenik Ramanlal Dalal |
|
6000 |
|
Surekha Shrenik Dalal |
|
2000 |
|
Prayag Shrenik Dalal |
|
2000 |
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Total |
|
10000 |
As on 26.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Plastic Packaging Materials. |
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Products : |
v
Agro Chemicals Packing Products v
Bulk Drugs and Fine Chemicals Packaging Products v
Cosmetics Packaging Products v
Diagnostic Packaging Products v
Industrial Bottles v
Industrial Plastic Bottles v
Pharma Packaging Products v
Plastic Containers v
Plastic Products
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Exports : |
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Products : |
Plastic Packaging Materials |
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Countries : |
v
v
v
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Terms : |
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Selling : |
Advance Payment |
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Purchasing : |
Advance Payment |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Plastic Bottles, Jars and Cans etc. |
Nos. |
Not Applicable |
Not Applicable |
45354341 |
GENERAL INFORMATION
|
Customers : |
End Users and Manufacturer |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
The Saraswat Co-operative
Bank Limited, SME Vikhroli Branch, Prabhat Bhavan, LBS Marg, Vikhroli (West),
Mumbai – 400 079, Maharashtra, India |
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Facilities : |
Overdraft – Rs.12.500 millions (From The Saraswat
Co-operative Bank Limited)
Notes: Secured against hypothecation of moveable properties of the Company and assets of the Company including stocks of stores, raw materials, semi finished goods and book debts and guaranteed by directors of the Company.
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
H.N. Malbari and Company Chartered Accountants |
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Address : |
S/A-G, |
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Tel. No.: |
91-22-23001345 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AABPM6754C |
CAPITAL STRUCTURE
As on 26.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000
million |
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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 |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
34.299 |
29.316 |
25.369 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
35.299 |
30.316 |
26.369 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
11.319 |
15.475 |
27.168 |
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2] Unsecured Loans |
1.305 |
7.661 |
3.389 |
|
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TOTAL BORROWING |
12.624 |
23.136 |
30.557 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
47.923 |
53.452 |
56.926 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
23.589 |
32.808 |
26.542 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.025 |
0.025 |
0.025 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12.152
|
12.996 |
10.354 |
|
|
Sundry Debtors |
20.222
|
16.931 |
15.400 |
|
|
Cash & Bank Balances |
2.795
|
0.855 |
17.691 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
7.955
|
6.313 |
4.224 |
|
Total
Current Assets |
43.124
|
37.095 |
47.669 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.878
|
8.989 |
13.783 |
|
|
Other Current Liabilities |
3.452
|
4.477 |
2.571 |
|
|
Provisions |
8.485
|
3.010 |
1.125 |
|
Total
Current Liabilities |
18.815
|
16.476 |
17.479 |
|
|
Net Current Assets |
24.309
|
20.619 |
30.190 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.169 |
|
|
|
|
|
|
|
|
TOTAL |
47.923 |
53.452 |
56.926 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income (including Excise Duty) |
144.477 |
103.084 |
103.142 |
|
|
|
Other Income |
4.594 |
10.095 |
20.655 |
|
|
|
TOTAL (A) |
149.071 |
113.179 |
123.797 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Decrease/ Increase in stocks of Finished Goods |
0.516 |
(1.485) |
2.220 |
|
|
|
Manufacturing and Other Expenses |
116.684 |
91.603 |
87.333 |
|
|
|
Excise Duty |
15.966 |
7.992 |
12.077 |
|
|
|
TOTAL (B) |
133.166 |
98.110 |
101.630 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
15.905 |
15.069 |
22.167 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
1.433 |
2.858 |
5.195 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
14.472 |
12.211 |
16.972 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.398 |
5.571 |
5.312 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
11.074 |
6.640 |
11.660 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.150 |
2.000 |
1.125 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
7.924 |
4.640 |
10.535 |
|
|
|
|
|
|
|
|
|
|
Excess/Short
Provision for Taxes of earlier years |
0.484 |
0.461 |
0.001 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
24.949 |
21.673 |
11.137 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
1.000 |
1.000 |
0.000 |
|
|
|
Income tax on Dividend |
0.100 |
0.155 |
0.000 |
|
|
|
Proposed Dividend |
2.000 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
0.324 |
0.000 |
0.000 |
|
|
|
Transfer to General Reserve |
1.100 |
0.670 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
28.833 |
24.949 |
21.673 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports of goods on F.O.B. basis |
4.480 |
3.216 |
2.798 |
|
|
TOTAL EARNINGS |
4.480 |
3.216 |
2.798 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
840.81 |
510.10 |
1053.61 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
140.000 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.170.000 millions
The above information has been parted by Mr. Shrenik R. Dalal
(Director).
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.32
|
4.10 |
8.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.66
|
6.44 |
11.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.60
|
9.50 |
15.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.22 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.89
|
1.31 |
1.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.29
|
2.25 |
2.73 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
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
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
|
31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32)
PAN of Proprietor/Partner/Director, if available |
No |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
Yes |
|
34)
External Agency Rating, if available |
No |
Note:
The registered office of the company has been shifted from 61-B, Amar Niwas, Sophia Collage Lane, B. Desai Road, Mumbai – 400 026,
FINANCE AND TAXATION:
The Company has paid the advance tax of Rs.2.900 millions. However, the
parties have deducted as TDS of Rs.0.042 million during the accounting year
2010-11 from the processing charges. The Assessment for Income tax has been
completed till assessment year 2009-10. The Assessment for Sales tax has been completed
till year ending 31.03.2004.
YEAR IN
RETROSPECT:
During the year,
the Company achieved a turnover of Rs.144.477 millions and did a processing job
work of Rs.1.110 millions as against turnover of Rs.103.084 millions and
processing job work of Rs.9.206 millions in the previous year, showing increase
in turnover of Rs.41.393 millions and decrease in job work Rs.8.096 millions,
after meeting all the expenses including provision for taxation and adjustments
in respect of excess provision for taxation, the Company made a profit of
Rs.7.668 millions. However, the Company is actively pursued to put major thrust
on improving the performance, and also efforts to economize in all major
overheads, improve yield and favorable product mix in turnover to maintain the
overall margin and gross.
With stabilization
of the operations, the efforts are being made to increase productivity at all
levels. The Directors are confident that bearing unforeseen circumstances, the
Company would show the improved performance in the current year.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U25110MH1990PTC059216 |
|
Name of the
company |
SHREE RUBBERPLAST
COMPANY PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
201/C, 2nd
Floor, The Platinum, Juhu Lane, Andheri (West), Mumbai – 400 058, E-Mail: srpc@yahoo.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property
(not being pledge) |
|
Particular of
charge holder |
The Saraswat
Co-operative Bank Limited, SME Vikhroli Branch, Prabhat Bhavan, LBS Marg, Vikhroli
(West), Mumbai – 400 079, Maharashtra, India E-Mail: njbhatia@rediffmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement of Hypothecation
of Movable Property |
|
Date of
instrument Creating the charge |
20.12.2010 |
|
Amount secured by
the charge |
Rs.2.700 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: 13% p.a. or at
such rate as maybe determined by the bank from time to time Terms of
Repayment: On demand Margin: Nil Extent and
Operation of the charge: This is
collateral security |
|
Short particulars
of the property charged |
Hypothecation of
plant and machinery tangible movable property (both present and future)
belonging to the borrower and lying and being at borrower place of business
at Gala no 5, 6, 7, 8 MLK Industrial Estate No.2, Village Gokhiare Vasai or
where ever else the same maybe. |
FIXED ASSETS:
v Buildings
v Office Premises
v Plant and Machinery
v Moulds
v Electric Installation
v Furniture, Fixture and Equipments
v Vehicles
v Tempo
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.55.99 |
|
|
1 |
Rs.87.55 |
|
Euro |
1 |
Rs.68.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
49 |
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.