MIRA
INFORM REPORT
|
Report Date : |
18.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
NOBLE SEEDS PRIVATE LIMITED |
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Registered
Office : |
33, Noble House, Village and Post Office, Khera Kalan, Delhi – 110082 |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
20.10.2004 |
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Com. Reg. No.: |
130109 |
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Capital Investment
/ Paid-up Capital : |
Rs.7.500 Millions |
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CIN No.: [Company Identification
No.] |
U01119DL2004PTC130109 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Vegetable Seeds |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 77000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. The
concern is progressing steadily. Trade relations are reported as fair.
Business is active. Payments are reported to be usually correct. The company can be considered normal 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
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. Lakshmi |
|
Designation : |
Director |
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Contact No.: |
91-9350042525 |
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Date : |
01.08.2012 |
LOCATIONS
|
Registered Office/ Factory : |
33, Noble House, Village and Post Office, Khera Kalan, Delhi – 110082 |
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Tel. No.: |
91-11-27843343 |
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Mobile No.: |
91-9350042525 (Mr. Lakshmi. N) |
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Fax No.: |
91-11-27843953 |
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E-Mail : |
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Website : |
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Area : |
200 Sq.Yards |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Lakshmi Madenahalli Narasimha |
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Designation : |
Director |
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Address : |
131, Jai Apartments, Rohini, Sector – 9, Rohini, Delhi – 110085, India |
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Date of Birth/Age : |
22.07.1968 |
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Date of Appointment : |
20.10.2004 |
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DIN No.: |
01049631 |
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Name : |
Mr. Ravi Rana |
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Designation : |
Director |
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Address : |
33, Main Village, Khera Kalan, Narela, Delhi – 110082, India |
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Date of Birth/Age : |
02.08.1972 |
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Date of Appointment : |
12.11.2004 |
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PAN No.: |
XVX1379338 |
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DIN No.: |
00970637 |
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Name : |
Mr. Paramjeet Singh |
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Designation : |
Director |
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Address : |
1/7B, Moti Nagar, New Delhi – 110015,India |
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Date of Birth/Age : |
31.03.1967 |
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Date of Appointment : |
14.06.2005 |
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DIN No.: |
00513040 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
M.N. Lakshmi |
|
150000 |
|
Sudha Mani |
|
267000 |
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Ravi Rana |
|
225000 |
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Paramjeet Singh |
|
108000 |
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Total |
|
750000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Vegetable Seeds |
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Products : |
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Exports : |
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Products : |
Vegetable Seeds |
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Countries : |
·
Pakistan ·
Nepal |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
·
Japan ·
Korea ·
Australia ·
Newzeland |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers: |
End Users |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
·
The Karnataka Bank Limited, Sector – 9, Rohini,
Delhi - 110085, India ·
Axis Bank, Pitampura, New Delhi, India |
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Facilities : |
CC Rs. 20.000 Millions (Rs.
in Millions) |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Bhupinder Shah and Company Chartered Accountants |
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Address : |
C – 12, Rajnagar, C.H.B.S. Pritampura, New Delhi - 110034, India |
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PAN No: |
AAAFB0031C |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
1000000 |
Equity Shares |
Rs.10/- Each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
750000 |
Equity Shares |
Rs.10/- Each |
Rs.7.500
Millions |
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After 30.09.2011
Authorised Capital – Rs. 10.000 Millions
Paid-up Capital – Rs. 9.500 Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
SHAREHOLDERS FUNDS |
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|
|
|
|
1] Share Capital |
7.500 |
5.000 |
2.500 |
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2] Share Application Money |
0.298 |
0.298 |
1.388 |
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3] Reserves & Surplus |
11.480 |
5.809 |
3.773 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
19.278 |
11.107 |
7.661 |
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LOAN FUNDS |
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1] Secured Loans |
22.467 |
8.508 |
6.892 |
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2] Unsecured Loans |
4.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
26.467 |
8.508 |
6.892 |
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DEFERRED TAX LIABILITIES |
1.758 |
0.822 |
0.507 |
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TOTAL |
47.503 |
20.437 |
15.060 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
34.401 |
9.108 |
6.714 |
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Capital work-in-progress |
0.000 |
0.000 |
0.072 |
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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 |
20.154
|
12.696 |
10.589 |
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Sundry Debtors |
25.625
|
35.696 |
18.930 |
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Cash & Bank Balances |
5.931
|
7.791 |
2.523 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
4.380
|
6.564 |
1.574 |
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Total
Current Assets |
56.090
|
62.747 |
33.616 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
36.454
|
43.816 |
22.595 |
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Other Current Liabilities |
5.289
|
4.370 |
1.995 |
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Provisions |
1.388
|
3.318 |
0.784 |
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Total
Current Liabilities |
43.131
|
51.504 |
25.374 |
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Net Current Assets |
12.959
|
11.243 |
8.242 |
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MISCELLANEOUS EXPENSES |
0.143 |
0.086 |
0.032 |
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TOTAL |
47.503 |
20.437 |
15.060 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income (Gross) |
163.538 |
135.973 |
72.051 |
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Other Income |
N.A |
N.A |
N.A |
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TOTAL
|
N.A |
N.A |
N.A |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
N.A |
N.A |
N.A |
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PROFIT BEFORE
TAX |
9.534 |
7.177 |
3.835 |
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Less |
TAX
|
2.950 |
2.226 |
1.442 |
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PROFIT AFTER
TAX |
6.584 |
4.951 |
2.392 |
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Less |
ADJUSTMENTS |
0.041 |
0.000 |
0.010 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3.809 |
2.773 |
1.976 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
1.500 |
1.000 |
1.000 |
|
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Dividend |
0.750 |
2.500 |
0.500 |
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Tax on Dividend |
0.122 |
0.415 |
0.085 |
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BALANCE CARRIED
TO THE B/S |
7.980 |
3.809 |
2.773 |
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IMPORTS |
13.863 |
4.487 |
2.034 |
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Earnings Per
Share (Rs.) |
8.78 |
0.00 |
0.00 |
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Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
165.000 |
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|
Expected Sales (2012-13): Rs. 280.000 Millions
The above information has been parted by Mr. Lakshmi
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
5.83
|
3.64 |
5.32 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
10.54
|
9.99 |
9.51 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.49
|
0.65 |
0.50 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
3.61
|
5.40 |
4.21 |
|
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30
|
1.22 |
1.32 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
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 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U01119DL2004PTC130109 |
|
Name of the company |
NOBLE SEEDS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
33, Noble House, Village and Post Office, Khera Kalan, Delhi – 110082,
INDIA |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10013739 |
|
Type of charge |
·
Book debts ·
Floating charge |
|
Particular of charge holder |
The Karnataka Bank Limited, Sector – 9, Rohini, Delhi - 110085, India Email: del.rohini@ktkbank.com
|
|
Nature of instrument creating charge |
Hypothecation Agreement Dated 09.05.2012 for enhancement of working
capital limit to Rs.30.000 Millions |
|
Date of instrument Creating the charge |
09.05.2012 |
|
Amount secured by the charge |
Rs.30.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest
BR+2.75%p.a. i.e. 13.75% p.a. compounded monthly. Terms of
Repayment On Demand Margin 30% of stocks and book debts Extent and
Operation of the charge 18 months i.e.upto 30.09.2013. |
|
Short particulars of the property or asset(s) charged (including complete
address and location of the property) |
Hypothecation of
stocks of vegetable seeds stored at 33, Noble House, Vill. Khera Kalan,
Delhi-110082 Hypothecation of
Book Debts/Receivables arising out of business transactions. Already held
equitable mortgage by deposit of original title deeds of Indl. property on
Plot bearing no.16, Phase-1, HSIDC Kundli, Distt. Sonepat. |
|
Whether any of the property or interest therein under reference is not
registered in the name of the company |
Yes |
|
If yes, in whose name it is registered |
Already held E M
of Agriculture Land belonging to Mr. Ravi Rana (Director) and Mr. Devender
Singh Rana (Guarantor)
measuring 2420 Sq Yads bearing Khasra No. 46(7) Village Khera Kalan Delhi. |
|
Date of instrument modifying the charge |
06.04.2011 |
|
Particulars of the present modification |
Enhancement of working capital limit from existing Rs.20.000 Millions
to Rs. 30.000 Millions |
Note: The Registered office of the company has been
shifted from 33, Noble House, Vilage Khera Khurd, Delhi – 110082, India to the present address w.e.f. 17.03.2011
FIXED ASSETS:
·
Land and building
·
Plant and machineries
·
Data processors
·
Office equipments
·
Furniture and fixtures
·
Vehicle
·
Electric equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.99 |
|
|
1 |
Rs.87.55 |
|
Euro |
1 |
Rs.68.69 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
41 |
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.