MIRA
INFORM REPORT
|
Report Date : |
03.02.2012 |
IDENTIFICATION DETAILS
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Name : |
R N GUPTA ENGINEERING COMPANY PRIVATE LIMITED |
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Registered
Office : |
Orchid Road Mall, Unit No. 223, 1st Floor, Royal Palm
Estate, Aarey Road, Goregaon East, Mumbai – 400065, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
02.02.1990 |
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Com. Reg. No.: |
055307 |
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Capital
Investment / Paid-up Capital : |
Rs. 6.000 Millions |
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CIN No.: [Company Identification
No.] |
U33200MH1990PTC055307 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR10351F |
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PAN No.: [Permanent Account No.] |
AABCR4593D |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Trader of Electric Motors. |
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No. of Employees
: |
15 (in office) |
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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Maximum Credit Limit : |
USD 30632 |
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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. Profitability
of the company appears to be low. 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 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.
INFORMATION PARTED BY
|
Name : |
Mr. Frances |
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Designation : |
Accountant |
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Contact No.: |
91-22-67520710 |
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Date : |
02.02.2012 |
LOCATIONS
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Registered Office : |
Orchid Road Mall, Unit No. 223, 1st Floor, Royal Palm
Estate, Aarey Road, Goregaon East, Mumbai – 400065, Maharashtra, India |
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Tel. No.: |
91-22-67520710 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
As on 30.09.2011
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Name : |
Ms. Archana Kamal Gupta |
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Designation : |
Director |
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Address : |
Panchsheel 4A, Flat 004, Raheja Township, Malad (East), Mumbai – 400
097, Maharashtra, India |
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Date of Birth/Age : |
03.12.1967 |
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Date of Appointment : |
02.02.1990 |
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Name : |
Mr. Kamalkumar Roopnarayan Gupta |
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Designation : |
Director |
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Address : |
4.4A, Ground Floor, Panchsheel, Raheja Town Ship, Mumbai – 400097,
Maharashtra, India |
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Date of Birth/Age : |
06.10.1963 |
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Date of Appointment : |
26.05.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Archana Gupta |
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80405 |
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Kamal Gupta |
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405910 |
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Priyanka Gupta |
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30225 |
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Akanksha Gupta |
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31990 |
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Aditya Gupta |
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40520 |
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Harsh Kedia |
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1000 |
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Kantilal Kedia |
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2900 |
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Krishna Kedia |
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1600 |
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Jayshree Tejnani |
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3950 |
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Tina Tejnani |
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1500 |
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Total |
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600000 |
As on 30.09.2011
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Category |
Percentage |
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Directors or relatives of Directors |
99.09 |
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Other top fifty shareholders |
0.91 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Electric Motors. |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Suppliers : |
·
ABB Limited |
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Customers : |
·
End users ·
Citizen Industries Limited |
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No. of Employees : |
15 (approximately) |
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Bankers : |
·
Indian Bank, Smeet Apartments, Upashray Lane,
Ghatkopar-East, Mumbai – 400077, Maharashtra, India |
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Facilities : |
Note – (against stock and book debts and EM of residential flats of
directors and personal guarantee of both directors)
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
Sudhir Kedia and Company Chartered Accountant |
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Address : |
104-Minal Tower, Old Nagardas Road, Andheri (E), Mumbai – 400069,
Maharashtra, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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600,000 |
Equity Shares |
Rs. 10/- each |
Rs. 6.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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600,000 |
Equity Shares |
Rs. 10/- each |
Rs. 6.000 Millions |
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Note - 450,000 shares issued during the year for Rs.
10/- per share, fully paid up in cash
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 |
6.000 |
1.500 |
1.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.658 |
1.328 |
1.133 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
7.658 |
2.828 |
2.633 |
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LOAN FUNDS |
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1] Secured Loans |
14.235 |
11.058 |
11.970 |
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2] Unsecured Loans |
4.071 |
0.960 |
1.468 |
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TOTAL BORROWING |
18.306 |
12.018 |
13.438 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
25.964 |
14.846 |
16.071 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.729 |
0.817 |
0.908 |
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Capital work-in-progress |
0.443 |
0.000 |
0.000 |
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INVESTMENT |
1.368 |
0.088 |
0.003 |
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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 |
13.231
|
13.623 |
12.940 |
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Sundry Debtors |
20.366
|
14.483 |
8.949 |
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Cash & Bank Balances |
0.372
|
0.234 |
0.127 |
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Other Current Assets |
0.258
|
0.560 |
0.512 |
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Loans & Advances |
3.078
|
0.493 |
0.493 |
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Total
Current Assets |
37.305
|
29.393 |
23.021 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
13.509
|
15.241 |
7.709 |
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Other Current Liabilities |
0.250
|
0.202 |
0.119 |
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Provisions |
0.122
|
0.009 |
0.033 |
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Total
Current Liabilities |
13.881
|
15.452 |
7.861 |
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Net Current Assets |
23.424
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13.941 |
15.160 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
25.964 |
14.846 |
16.071 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Turnover |
92.310 |
84.389 |
NA |
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EXPENSES |
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TOTAL |
91.810 |
84.103 |
NA |
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PROFIT BEFORE
TAX (E-F) (G) |
0.500 |
0.285 |
NA |
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Less |
TAX (I) |
0.170 |
0.090 |
NA |
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PROFIT AFTER TAX
(G-I) (J) |
0.330 |
0.195 |
0.089 |
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Earnings Per
Share (Rs.) |
0.55 |
1.30 |
-- |
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Expected Sales (2011-2012) : Rs. 150.000 Millions
The above information has been parted by (Mr. Frances – Accountant)
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.54
|
0.33 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.31
|
0.94 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
|
0.06
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0.10 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
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4.20
|
9.71 |
8.08 |
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Current Ratio (Current Asset/Current Liability) |
|
2.68
|
1.90 |
2.92 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details
|
Particulars |
31.03.2011 (Rs.
In Millions) |
31.03.2010 (Rs.
In Millions) |
31.03.2009 (Rs.
In Millions) |
|
Sundry Creditors |
13.509 |
15.241 |
7.709 |
Trade References
·
ABB Limited
·
Citizen Industries Limited
Note – the registered office address of the company has been shifted from
45 Bhangwadi Shopping Arcade, Kalbadevi Rd., Mumbai – 400002, Maharashtra,
India, to present address.
Form 8
|
Corporate
identity number of the company |
U33200MH1990PTC055307 |
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|
Name of the
company |
R N GUPTA ENGINEERING COMPANY PRIVATE LIMITED |
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|
Address of the
registered office or of the principal place of business in |
Orchid Road Mall, Unit No. 223, 1st Floor, Royal Palm
Estate, Aarey Road, Goregaon East, Mumbai – 400065, Maharashtra, India |
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|
This form is for |
Modification of
charge |
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Type of charge |
Book debts Movable property |
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Particular of
charge holder |
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Nature of
instrument creating charge |
1. Agreement For
Open Cash Credit (Stocks/Book Debts) |
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Date of
instrument Creating the charge |
21.06.2011 |
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Amount secured by
the charge |
Rs. 12.000
Millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Base Rate +
Spread+Tp (9.50+4.00+0.50) 14 % P.A And / Or As Stipulated By Bank From Time
To Time Terms of
Repayment On Demand And /
Or As Stipulated By Bank From Time To Time Margin 25 % And / Or As
Stipulated By Bank From Time To Time Extent and
Operation of the charge First Charge
(Present And Future) = Total Limit = Occ Limit Rs. 12.000 millions And / Or As
Stipulated By Bank From Time To Time Others As Stipulated By
Bank From Time To Time And As Per Agreement Attached And As Per Sanction
Letter Of The Bank |
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Particulars of
the property charged |
First
Charge(Present & Future On Follwing Asset) (1)Hypothecation
Of All Stock Of Raw Material, Work In Process, Finished
Goods/Goods/Inventories/Products Kept At Borrower
Place/Premises/Godown/Factories Ir Whereeverelse
On In Transit (2) Hypothecation
Of All Book Debts And Receivbales (3) Hypothecation
Of All Current , Movable Assets Of The Company |
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Particulars of
the present modification |
By This
Modification Limit Enhanced From Rs. 9.500 millions To Rs. 12.000 millions, Securities Are
Continued As Given By Original Charge As Well As By Modifications,Terms And
Conditions As Per Agreement Attached And As Per Sanction Letter Of The Bank |
Fixed Assets
·
Computer
·
Air Conditioner
·
Car
·
Office Equipments
·
Furniture and Fixtures.
|
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter's background |
---------------------- |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact
person |
Yes |
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11) Turnover of firm for last
three years |
Yes (2 years) |
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12) Profitability for last
three years |
No |
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13) Reasons for variation
<> 20% |
No |
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14) Estimation for coming
financial year |
Yes |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
No |
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17) Major suppliers |
Yes |
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18) Major customers |
Yes |
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19) Payments terms |
Yes |
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20) Export / Import details
(if applicable) |
No |
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21) Market information |
---------------------- |
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22) Litigations that the firm
/ promoter involved in |
---------------------- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
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25) Conduct of the banking
account |
---------------------- |
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26) Buyer visit details |
---------------------- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if
applicable |
---------------------- |
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29) Last accounts filed at ROC |
---------------------- |
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30) 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 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.49.12 |
|
|
1 |
Rs.77.84 |
|
Euro |
1 |
Rs.64.74 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.