MIRA
INFORM REPORT
|
Report Date : |
09.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
VAISHALI SANITATION PRIVATE LIMITED |
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Registered
Office : |
3-4, Indraprastha, Near Damji Shamji Industrial Estate, L.B.S. Marg,
Vikhroli (West), Mumbai-400083, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
11.11.1998 |
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Com. Reg. No.: |
11-117090 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.616 Million |
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CIN No.: [Company Identification
No.] |
U26900MH1998PTC117090 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV07236F |
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PAN No.: [Permanent Account No.] |
AABCV1107B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Tiles, Floors, Bathroom Fittings. |
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No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
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 15000 |
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Status : |
Satisfactory |
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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 satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for small 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.
INFORMATION PARTED BY
|
Name : |
Mr. Tansukhlal Nanalal Jain |
|
Designation : |
Director |
|
Contact No.: |
91-22-25787129 |
|
Date : |
08.06.2012 |
LOCATIONS
|
Registered Office : |
3-4, Indraprastha, Near Damji Shamji Industrial Estate, L.B.S. Marg, Vikhroli
(West), Mumbai-400083, Maharashtra, India
|
|
Tel. No.: |
91-22-25787128 / 2578129 |
|
Mobile No.: |
91-9987265802 (Mr. Tansukhlal Nanalal Jain) |
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Fax No.: |
91-22-25787130 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Lalitkumar Nanalal Jain |
|
Designation : |
Director |
|
Address : |
G-1, Hazari Baug, LBS Marg, Station Road, Vikhroli (West),
Mumbai-400083, Maharashtra, India |
|
Date of Birth/Age : |
16.10.1970 |
|
Date of Appointment : |
20.07.1999 |
|
DIN No.: |
01263470 |
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|
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|
Name : |
Mr. Sureshkumar Nanalal Jain |
|
Designation : |
Director |
|
Address : |
G-1, Hazari Baug, LBS Marg, Station Road, Vikhroli (West),
Mumbai-400083, Maharashtra, India |
|
Date of Birth/Age : |
21.06.1963 |
|
Date of Appointment : |
28.06.2007 |
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DIN No.: |
01383300 |
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|
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|
Name : |
Mr. Tansukhlal Nanalal Jain |
|
Designation : |
Director |
|
Address : |
G-1, Hazari Baug, LBS Marg, Station Road, Vikhroli (West),
Mumbai-400083, Maharashtra, India |
|
Date of Birth/Age : |
15.04.1966 |
|
Date of Appointment : |
11.11.1998 |
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DIN No.: |
01502122 |
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|
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|
Name : |
Mr. Nanalal Seshmal Jain |
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Designation : |
Director |
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Address : |
Shop No.25, Hazari Baug, Station Road, Vikhroli (West), Mumbai-400083,
Maharashtra, India |
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Date of Birth/Age : |
15.08.1942 |
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Date of Appointment : |
20.07.1999 |
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DIN No.: |
02819324 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Suresh Jain |
1100 |
|
Tansukh Jain |
1100 |
|
Lalit Jain |
1100 |
|
Nanalal Jain |
1100 |
|
Nirmala Jain |
500 |
|
Sujata Jain |
500 |
|
Hulasben Jain |
500 |
|
Sudha Jain |
200 |
|
Suresh Jain (HUF) |
10 |
|
Tansukh Jain (HUF) |
10 |
|
Lalit Jain (HUF) |
10 |
|
Rishubkumar Jain |
10 |
|
Anita Jain |
10 |
|
Chinmay Jain |
10 |
|
TOTAL |
6160 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
99.52 |
|
Other top fifty shareholders |
0.48 |
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TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Tiles, Floors, Bathroom Fittings |
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Agencies Held : |
·
Duravit, Germany ·
Grohe, India |
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Imports : |
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Countries : |
Germany |
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Terms : |
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Selling : |
Credit (30 Days) |
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Purchasing : |
L/C (90 Days) |
GENERAL INFORMATION
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Customers : |
Wholesalers and Retailers ·
Ritik Ceramic Private Limited ·
Paradise Ceramic India Private Limited ·
Samir Ceramic |
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No. of Employees : |
15 (Approximately) |
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Bankers : |
·
The Saraswat Co-Operative Bank Limited, Small and
Medium Enterprise Branch, Prabhat Bhavan, Block B, 96, LBS Marg, Vikhroli
(West), Mumbai-400083, Maharashtra, India ·
HDFC Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M. H Jain and Company Chartered Accountant |
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Address : |
103, Kothari Niwas, Sanitorium Lane, Ghatkopar (West), Mumbai-400086,
Maharashtra, India |
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Tel. No.: |
91-22-25125416 / 23449097 |
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Pan No.: |
AABCV1107B |
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Sister Concern : |
Milagro Ceramica Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
10000 |
Equity Shares |
Rs.100/- each |
Rs. 1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6160 |
Equity Shares |
Rs.100/-
each |
Rs. 0.616
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 |
0.616 |
0.616 |
0.616 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
3.280 |
2.111 |
1.766 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3.896 |
2.727 |
2.382 |
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LOAN FUNDS |
|
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1] Secured Loans |
0.304 |
0.593 |
0.867 |
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2] Unsecured Loans |
15.293 |
18.960 |
16.566 |
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TOTAL BORROWING |
15.597 |
19.553 |
17.433 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
19.493 |
22.280 |
19.815 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.437 |
1.779 |
2.267 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
9.737 |
9.737 |
9.737 |
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DEFERREX TAX ASSETS |
0.248 |
0.262 |
0.223 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
20.820
|
19.546 |
15.531 |
|
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Sundry Debtors |
2.720
|
6.592 |
1.542 |
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Cash & Bank Balances |
0.519
|
1.350 |
1.201 |
|
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Other Current Assets |
0.660
|
1.042 |
3.762 |
|
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Loans & Advances |
1.833
|
1.645 |
3.094 |
|
Total
Current Assets |
26.552
|
30.175 |
25.130 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Sundry Creditors |
8.303
|
9.471 |
7.727 |
|
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Other Current Liabilities |
8.777
|
9.367 |
8.800 |
|
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Provisions |
1.401
|
0.835 |
1.015 |
|
Total
Current Liabilities |
18.481
|
19.673 |
17.542 |
|
|
Net Current Assets |
8.071
|
10.502 |
7.588 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
|
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|
|
|
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TOTAL |
19.493 |
22.280 |
19.815 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
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SALES |
|
|
|
|
|
|
|
Sales |
65.715 |
65.971 |
55.914 |
|
|
|
Other Income |
2.962 |
NA |
NA |
|
|
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TOTAL |
68.677 |
NA |
NA |
|
|
|
|
|
|
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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 |
64.654 |
NA |
NA |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
4.023 |
3.149 |
3.433 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
2.045 |
2.112 |
2.021 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.978 |
1.037 |
1.412 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.295 |
0.531 |
0.595 |
|
|
|
|
|
|
|
|
|
Add |
Profit on sale
of fixed assets |
0.065 |
0.000 |
0.000 |
|
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|
PROFIT BEFORE
TAX |
1.748 |
0.506 |
0.817 |
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|
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|
|
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Less |
TAX |
0.579 |
0.156 |
0.256 |
|
|
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|
|
|
|
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|
PROFIT AFTER TAX
|
1.169 |
0.350 |
0.561 |
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.111 |
1.765 |
1.296 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Fringe Benefit Tax (A.Y.2009-2010) |
-- |
-- |
(0.087) |
|
|
|
Income Tax |
-- |
-- |
(0.006) |
|
|
|
Income Tax Refund |
-- |
(0.004) |
0.001 |
|
|
BALANCE CARRIED
TO THE B/S |
3.280 |
2.111 |
1.765 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
189.78 |
-- |
-- |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
90.000 |
|
|
|
|
|
Expected Sales (2012-2013) : Rs. 150.000 Millions [Due to business
expansion]
The above information has been parted by Mr. Tansukhlal Nanalal Jain.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.70
|
NA |
NA |
|
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|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.54
|
0.77 |
1.46 |
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.19
|
1.57 |
2.96 |
|
|
|
|
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.45
|
0.19 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
8.75
|
14.38 |
14.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.44
|
1.53 |
1.43 |
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. Constructions 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 |
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15. Capital in the business |
Yes |
|
16. Details of sister concerns |
Yes |
|
17. Major suppliers |
No |
|
18. Major customers |
Yes |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
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23. Banking Details |
Yes |
|
24. Banking facility details |
Yes |
|
25. Conduct of the banking account |
------ |
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26. Buyer visit details |
------ |
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27. Financials, if provided |
Yes |
|
28. Incorporation details, if applicable |
Yes |
|
29. Last accounts filed at ROC |
Yes |
|
30. Major Shareholders, if available |
Yes |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Trade Creditors |
6.108 |
7.547 |
7.162 |
|
Creditors for Expenses |
2.195 |
1.924 |
0.565 |
|
TOTAL
|
8.303 |
9.471 |
7.727 |
FINANCIAL RESULTS
The company has achieved a Sales of Rs. 65.715 Millions in its
thirteenth year of operations.
FORM 8
|
Corporate
identity number of the company |
U26900MH1998PTC117090 |
|
Name of the
company |
VAISHALI
SANITATION PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
3-4, Indraprastha, NearDamji Shamji Industrial Estate, L.B.S. Marg, Vikhroli (West), Mumbai-400083, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
The Saraswat Co-Operative Bank Limited, Small and Medium Enterprise Branch, Prabhat Bhavan, Block B, 96, LBS Marg, Vikhroli (West), Mumbai-400083, Maharashtra, India |
|
Nature of
instrument creating charge |
Agreement of
Hypothecation of Movable Property For Letter of Credit On D/A Basis |
|
Date of
instrument Creating the charge |
19.04.2012 |
|
Amount secured by
the charge |
Rs. 0.750 Million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As Per Sanction
Terms Terms of repayment As Per Sanction
Terms Margin As Per Sanction
Terms Extent and operation of the charge Letter of Credit on
D/A Basis Other Not Applicable |
|
Short particulars
of the property charged (Including location of the property) |
All The Stock
Tangible Movable Property Including The Stocks For The Time Being Whether New
or Manufactured or In Process of Manufacturing and Every Tangible Movable
Goods/Property/Machinery/Plant (Both Present and Future) Belonging to The
Borrower/S and Lying And Being At The Borrower's Place of Business At 3-4,
Indraprasth, L. B. S. Marg, Vikhroli (West), Mumbai - 400083. Hypothecation of
Charge In Favour of The Bank By Way of First Charge All The Book Debts,
Outstanding, Monies, Receivable, Claims And Bills Which are Now Due and Owing
or which May At any Time Hereafter During The Continuance of This Security
Become Due and Owing to The Borrower/S In The Course of His Business by any
Person, Firm, Company or By The Government or Any Local or Public Body or
Authority. |
TRADE REFERENCES
·
Ritik Ceramic Private Limited
·
Paradise Ceramic India Private Limited
·
Samir Ceramic
FIXED ASSETS
·
Computer
·
Furniture
·
Machinery
·
Office Equipments
·
Vehicles
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. 55.36 |
|
|
1 |
Rs. 85.63 |
|
Euro |
1 |
Rs. 69.21 |
INFORMATION DETAILS
|
Information Gathered
by : |
SBA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
42 |
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.