MIRA
INFORM REPORT
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Report Date : |
20.01.2012 |
IDENTIFICATION DETAILS
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Name : |
MADVIK CORPORATION PRIVATE LIMITED |
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Registered
Office : |
G-2, Rajagruha, 2-2-18/18/3/3, C-32/8, |
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Country : |
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Date of
Incorporation : |
23.06.2010 |
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Com. Reg. No.: |
01-069102 |
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Capital
Investment / Paid-up Capital : |
Rs.50.000 millions |
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CIN No.: [Company Identification
No.] |
U24297AP2010PTC069102 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
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Trader of Pharmaceuticals |
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No. of Employees
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33 [In Office] Approximately |
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 : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Subject is a new
company establishing itself gradually. The company has achieved sizable
turnover in its very first year of operation. Trade relations are reported as
fair. Business is active. Payments are unknown. 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.
ECGC Country Risk Classification List – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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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 |
INFORMATION PARTED BY
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Name : |
Mr. Vikram |
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Designation : |
Director |
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Contact No.: |
91-9885302278 |
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Date : |
18.01.2012 |
LOCATIONS
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Registered Office : |
G-2, Rajagruha, 2-2-18/18/3/3, C-32/8, Ahobil Mutt Road, DD Colony,
Hyderabad - 500013, Andhra Pradesh, India |
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Tel. No.: |
91-40-32996330 / 27400088 |
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Mobile No.: |
91-9885302278 [Mr. Vikram] |
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Fax No.: |
91-40-27400088 / 27403278 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Vikram Pillarisetty |
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Designation : |
Director |
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Address : |
15/62, Brindavan, |
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Date of Birth/Age : |
15.05.1975 |
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Date of Appointment : |
23.06.2010 |
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DIN : |
02428370 |
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Other Directorship : |
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Name : |
Mr. Govindaraju Diwakar |
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Designation : |
Director |
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Address : |
H.No.2-2-1144/14/3, |
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Date of Birth/Age : |
29.05.1970 |
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Date of Appointment : |
23.06.2010 |
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DIN : |
02719358 |
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Other Directorship : |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Vikram Pillarisetty |
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140000 |
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Govindaraju Diwakar |
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60000 |
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Total |
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200000 |
BUSINESS DETAILS
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Line of Business : |
Trader of Pharmaceuticals |
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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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Customers : |
End Users |
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No. of Employees : |
33 [In Office] Approximately |
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Bankers : |
State Bank of |
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Facilities : |
Cash Credit / Overdraft / Term Loan – Rs.100.000 millions |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Rambaba and Company Chartered Accountants |
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Address : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500,000 |
Equity Shares |
Rs.100/- each |
Rs.50.000
millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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200,000 |
Equity Shares |
Rs.100/- each |
Rs.20.000
millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
New Company
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Particulars |
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31.03.2011 |
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Sales Turnover [Approximately] |
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180.000 |
Expected Sales (2011-2012) : Rs.250.000 millions
The above information has been parted by Mr. Vikram [Director].
LOCAL AGENCY FURTHER INFORMATION
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Available
in Report [Yes/No] |
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Year
of Establishment |
Yes |
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Locality
of the Firm |
Yes |
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Construction
of the firm |
Yes |
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Premises
details |
Yes |
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Type
of Business |
Yes |
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Line
of Business |
Yes |
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Promoters
background |
- |
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No.
of Employees |
Yes |
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Name
of Person Contacted |
Yes |
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Designation
of contact person |
Yes |
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Turnover
of firm for last one years |
Yes |
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Profitability
for last three years |
No |
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Reasons
for variation <> 20% |
- |
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Estimation
for coming financial year |
Yes |
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Capital
the business |
Yes |
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Details
of sister concerns |
- |
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Major
Suppliers |
No |
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Major
Customers |
No |
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Payment
Terms |
Yes |
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Export
/ Import Details [If Applicable] |
No |
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Market
Information |
- |
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Litigations
that the firm / promoter involved in |
- |
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Banking
Details |
Yes |
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Banking
Facility Details |
Yes |
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Conduct
of the banking account |
- |
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Buyer
visit details |
- |
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Financials,
if provided |
No |
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Incorporation
details, if applicable |
- |
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Last
accounts filed at ROC |
- |
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Major
Shareholders, if applicable |
- |
Bankers Charges
Report as per Registry
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Corporate
identity number of the company |
U24297AP2010PTC069102 |
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Name of the
company |
MADVIK
CORPORATION PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
G-2 Rajagruha,
2-2-18/18/3/3, |
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This form is for |
Creation of
charge |
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Type of charge |
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Particular of
charge holder |
State Bank of Email : vspsteelplant@sbhyd.co.in
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Nature of
instrument creating charge |
1. Agreement of
loan for overall limit form c1 2. Letter
regrading the grant of individual limits within the overal limit |
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Date of
instrument Creating the charge |
01.07.2011 |
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Amount secured by
the charge |
Rs.7.000 millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- 14% (4.5% above base rate) Terms of Repayment
- working capital shall be repayable on demand Margin – Not
Applicable Extent and
Operation of the charge - It is a continuous
charge until repayment of entire dues to the bank Others - Nature
of facilities :OD Mortgage facilities - Rs.7.000 millions. |
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Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
It is a Charge on
Current Assets of the Company by way of Hypothecation of Raw Material, Work
in Progress, Finished Goods, Spares and receivables both present and future. Equitable
Mortgage in the name of Smt. P.Girija, |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.28 |
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1 |
Rs.77.60 |
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Euro |
1 |
Rs.64.66 |
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 report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.