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Report Date : |
17.12.2012 |
IDENTIFICATION DETAILS
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Name : |
SANDY LTD |
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Registered Office : |
C/o Prima
Secretaries Ltd. |
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Country : |
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Date of Incorporation : |
10.05.2006 |
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Com. Reg. No.: |
36800666 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of paper, newsprint, etc |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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 : |
Regular |
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Litigation : |
Clear |
SANDY LTD.
c/o Prima
Secretaries Ltd.
PHONE: 2376 3611
FAX: 2736 5115
(Formerly
located at:
c/o
Prima Secretaries Ltd.
Managing
Director: Mr. Sunil Kumar Poddar
Incorporated on: 10th May, 2006.
Organization: Private Limited Company.
Capital: Nominal: HK$2,000,000.00
Issued: HK$2,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Employees: Nil.
Main Dealing Banker: Bank
of
Banking Relation: Fair.
Registered Head
Office:-
c/o Prima Secretaries Ltd.
Holding Company:-
Poddar Global Ltd.,
36800666
1043856
Managing Director: Mr. Sunil Kumar Poddar
Nominal Share Capital: HK$2,000,000.00 (Divided into 2,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$2,000,000.00
(As per registry
dated 10-05-2009)
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Name |
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No. of shares |
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Poddar Global Ltd. 20 Engineers Enclave, Harsh Vihar Crossing, Pitampura, New
Delhi-110 034, |
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2,000,000 ======= |
(As per registry
dated 10-05-2009)
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Name (Nationality) |
Address |
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Sunil Kumar PODDAR |
2A/105, Rang Rasayan Apptt., Sector 13, Rohini, Delhi-110
085, |
(As per registry
dated 28-09-2009)
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Name |
Address |
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Prima Secretaries Ltd. |
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569406 |
The subject was incorporated on 10th May, 2006 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Suite 1402, 14/F., 1 Duddell Street, Central, Hong Kong where was the operating address of Prima Secretaries Ltd., moved to the present address with effect from 28th September, 2009.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of paper, newsprint, etc.
Employees: Nil.
Commodities Imported:
Markets:
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Nominal Share Capital: HK$2,000,000.00 (Divided into 2,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$2,000,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Keeping
a balance account in
Condition: Business
is not active in
Facilities: Making fairly active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Bankers:-
Axis Bank Ltd., Hong Kong Branch.
Bank of
Bank of
Standing: Small.
Incorporated in May 2006, Sandy Ltd. is a wholly-owned
subsidiary of Poddar Global Ltd. [PGL] which is an India-based firm. The director of the subject Sunil Kumar
Poddar is an
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at
The subject has no employees in
The subject is engaged in the same lines of business as its
parent. PGL is the leading importer and
distributor of newsprint paper, glazed paper and LWC paper in
The subject is responsible for marketing paper in
In February 1995, PGL’s newsprint business was known as Sanjay Trading Company which had 25 years experience in handling publication paper.
At present, PGL is supplying approximately 5,000 tonnes of
publication paper per month to more than 200 small and large newspaper
companies located in
PGL has claimed to be the largest newsprint importing and
distributing company in
PGL has set up its own warehouses at the major
It has been importing 5,000 tonnes of newsprint paper on
monthly basis from all major parts of world routed through all containerised
ports in
Today, PGL has established warehousing facilities in about 80 Indian cities.
Now, the subject is helping PGL penetrate the
Mr. Sunil Kumar Poddar, the subject’s and PGL’s director, is a graduate majoring in commerce with a thorough knowledge of the Indian Companies Act.
PGL sometimes deals with foreign parties under the name of the subject.
The subject’s business in
The subject is fully supported by PGL.
Since the subject does not have its own operating office and
has no employees in
COURT CASES: None per our.
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Date |
Particulars |
Amount |
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06-08-2007 |
Instrument: Debenture Property: 1) By
way of fixed charge as a continuing security for the payment and discharge of
the Secured Obligations 2) By way of first floating
charge and as a continuing security for the payment and discharge of the
Secured Obligations the property and assets Mortgagee: Axis Bank Ltd., Hong Kong Branch. |
As a continuing security for the payment
and discharge of the Secured Obligations |
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08-08-2007 |
Instrument: Charge on Deposit Property: 1) By
way of fixed charge, and agrees to charge, to the Bank as a continuing
security for the payment and discharge of the Liabilities, the Deposit (means
A/C No. 911020400000329 for a sum of US$92,000) and all right, title and
interest of the Depositor 2) By way of first floating
charge the Deposit Assets Mortgagee: Axis Bank Ltd., Hong Kong Branch. |
As a continuing security for the payment
and discharge of the Liabilities |
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23-08-2007 |
Instrument: Memorandum Property: Distinctive No. of Receipts Date of Issue Amount Due Date 91210300000037 18-04-2007 US$35,500 18-10-2007 91210300000058 23-04-2007 US$35,250 23-10-2007 91210300000076 25-04-2007 US$70,500 25-10-2007 91210300000095 04-05-2007 US$45,000 04-11-2007 91210300000096 04-05-2007 US$45,000 04-11-2007 91210300000101 08-05-2007 US$30,000 08-11-2007 91210300000102 05-05-2007 US$15,000 05-11-2007 91210300000392 23-07-2007 US$66,250 22-08-2007 Mortgagee: Bank of |
Loan or credit or other facilities |
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28-02-2008 |
Instrument: Letter of Set-Off and Appropriation Property: Fixed deposit
Deal No. 139846 dated 28-02-2008 for US$350,000 of Account No. 037318 Mortgagee: Bank of |
Advances and other banking facilities |
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13-02-2008 |
Instrument: Charge on Deposit Property: A sum of
US$92,000.00, US$100,000.00, US$18,000.00 and US$50,000.00 respectively,
currently represented or evidenced by a certificate of deposit dated
09-08-2007, 23-08-2007, 05-09-2007 and 21-12-2007 respectively bearing number
911020400000329, 911020400000417, 911020400000550 and 911020400001618
respectively Mortgagee: Axis Bank Ltd., Hong Kong Branch. |
As a continuing security for the payment
and discharge of the Liabilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.39 |
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UK Pound |
1 |
Rs.87.78 |
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Euro |
1 |
Rs.71.29 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.