MIRA
INFORM REPORT
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Report Date : |
18.06.2012 |
IDENTIFICATION DETAILS
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Name : |
COLOUR PACKS PRIVATE LIMITED |
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Registered
Office : |
71, Virwani Industrial Estate, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
27.07.1979 |
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Com. Reg. No.: |
11.021506 |
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Capital Investment
/ Paid-up Capital : |
Rs. 1.000 Million |
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CIN No.: [Company Identification
No.] |
U74950MH1979PTC021506 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers, Exporters and Importers of Paper and Allied Packaging
Products. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (43) |
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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 48000 |
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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. But there
appears lose in the current year. However, trade relation are reported to be
fair. Business is active. Payments are reported to be usually correct. The company can be considered 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 – 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 |
LOCATIONS
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Registered Office : |
71, Virwani Industrial Estate, |
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Tel. No.: |
91-22-29271287/ 29271288/ 29271324/ 28753350/ 28754738 |
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Mobile No.: |
91-9820043584 (Mr. Umesh) |
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Fax No.: |
91-29271324/ 28741327 |
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E-Mail : |
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Factory : |
68, 71 and 73 Virwani Industrial Estate, Goregaon (East), Mumbai –
400063, |
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Tel. No.: |
91-22-28753161 |
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Fax No.: |
91-22-28741327 |
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E-Mail : |
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Area : |
3000 Sq. ft. |
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Location : |
Owned – Industrial Area |
DIRECTORS
AS ON 30.09.2011
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Name : |
Mr. Umesh Kailashchandra Lohia |
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Designation : |
Director |
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Address : |
A-2/ 3, Maurya Apartments, |
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Date of Birth/Age : |
18.09.1973 |
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Date of Appointment : |
28.09.2001 |
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DIN No.: |
00451804 |
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Name : |
Mr. Varsha Deepak Agrawal |
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Designation : |
Director |
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Address : |
A 102, Mukatngan, Kailashpuri Road, Upper Govind Nagar, Malad (East),
Mumbai – 400097, Maharashtra, India |
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Date of Birth/Age : |
15.01.1976 |
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Date of Appointment : |
30.09.2009 |
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DIN No.: |
02795466 |
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Other Directorship : |
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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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Mr. Umesh Kailashchandra Lohia |
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5863 |
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Mr. K. C. Lohia HUF |
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1650 |
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Mr. Umesh Kailashchandra Lohia |
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2487 |
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Total |
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10000 |
AS ON 30.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Exporters and Importers of Paper and Allied Packaging
Products. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Bank of Baroda, Khetwadi Branch, 213, Shah Mansion, Khetwadi Main Road,
Mumbai – 400004, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institutional : |
· Kotak Mahindra Primus Limited · Reliance Capital Limited ·
Tata Capital Limited |
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Auditors : |
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Name : |
Dushyant Parekh and Associates Chartered Accountants |
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Address : |
204, Anjani Complex, 2nd Floor, |
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Income-tax
PAN of auditor or auditor's firm : |
AAAPP8316Q |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.000 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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
11.067 |
11.099 |
10.825 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
12.067 |
12.099 |
11.825 |
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LOAN FUNDS |
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1] Secured Loans |
6.189 |
6.970 |
6.168 |
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2] Unsecured Loans |
10.588 |
6.759 |
5.750 |
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TOTAL BORROWING |
16.777 |
13.729 |
11.918 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
28.844 |
25.828 |
23.743 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
17.758 |
18.570 |
16.544 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.085 |
0.085 |
0.085 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
8.393
|
6.012 |
3.093 |
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Sundry Debtors |
11.828
|
7.996 |
13.625 |
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Cash & Bank Balances |
0.284
|
0.021 |
0.020 |
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Other Current Assets |
0.124
|
0.142 |
0.107 |
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Loans & Advances |
1.882
|
2.501 |
4.564 |
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Total
Current Assets |
22.511
|
16.672 |
21.409 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
7.769
|
5.999 |
9.758 |
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Other Current Liabilities |
2.654
|
1.908 |
1.930 |
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Provisions |
1.087
|
1.592 |
2.607 |
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Total
Current Liabilities |
11.510
|
9.499 |
14.295 |
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Net Current Assets |
11.001
|
7.173 |
7.114 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
28.844 |
25.828 |
23.743 |
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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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Other Income |
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TOTAL |
39.671 |
49.785 |
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Less |
EXPENSES |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
39.429 |
49.082 |
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PROFIT BEFORE
TAX |
0.242 |
0.703 |
N.A. |
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Less |
TAX |
0.275 |
0.429 |
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PROFIT AFTER TAX |
(0.033) |
0.274 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
10.705 |
10.431 |
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BALANCE CARRIED
TO THE B/S |
10.672 |
10.705 |
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Earnings Per
Share (Rs.) |
3.30 |
27.4 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.08
|
0.55 |
N.A. |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.60
|
1.99 |
N.A. |
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Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.06 |
N.A. |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.34
|
1.92 |
2.22 |
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Current Ratio (Current Asset/Current Liability) |
|
1.96
|
1.76 |
1.50 |
LOCAL AGENCY FURTHER INFORMATION
|
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. Constitution of the firm |
Yes |
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4. Premises details |
No |
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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 |
Yes |
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8. No. of Employees |
No |
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9. Name of person contacted |
No |
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10. Designation of contact person |
No |
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11. Turnover of firm for last two years |
Yes |
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12. Profitability for last two years |
Yes |
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13. Reasons for variation <> 20% |
-- |
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14. Estimation for coming financial year |
No |
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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 |
No |
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18. Major customers |
No |
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19. Payments terms |
No |
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20. Export / Import details |
No |
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21. Market information |
-- |
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22. Litigations that the firm / promoter involved |
-- |
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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 |
Yes |
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29. Last accounts filed at ROC |
Yes |
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30. Major Shareholders, if available |
Yes |
FINANCIAL HIGHLIGHTS:
The Financial Year 2010-2011 was unsatisfactory year for the Company. Sales and Other income reported at 39.671 Millions showing decrease in turnover and other income by 20.31% from 49.785 Millions in the Previous Financial Year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U74950MH1979PTC021506 |
|
Name of the
company |
COLOUR PACKS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
71 Virwani
Industrial Estate, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90185114 |
|
Type of charge |
Book Debts Movable Property Floating Charge |
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Particular of
charge holder |
Bank Of Baroda,
Khetwadi Branch, 213, Email ID: shirishshetye@gmail.com |
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Nature of
description of the instrument creating or modifying the charge |
Supplemental Memorandum
of Entry For Extension of Equitable Mortgage of Immovable Property. |
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Date of
instrument Creating the charge |
07.03.2007 |
|
Amount secured by
the charge |
Rs. 6.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest NIL. Terms of Repayment NIL. Margin Book Debts 40%
and Stock-In-Trade 30%. Extent and Operation of the charge The charge is created
to secure the due repayment, discharge and redemption of the balance due
under the Cash Credit limit of Rs. 6.500 Millions and inclusive of Sub Limit:
DAUE of Rs. 0.500 Million, together with interest, compound interest,
interest tax, additional/further interest in case of default, penal interest,
commission, liquidated damages, premia on pre payment or on redemption costs,
charges, expenses and other moneys payable or incurred by the Company to the
Bank. |
|
Short particulars
of the property charged |
All that piece
and parcel of the land being a residential Unit No.71 Adm. 1085 sq. ft.,
Virwani Industrial Estate, Western Express Highway, Goregaon (E), Mumbai -
63, Survey No.20, Hissa No.7(Pt), Plot No.5 and 6A of Village - Dindoshi, Tal
- Borivali. |
|
Date of latest
modification prior to the present modification |
28.02.2006 |
|
Particulars of
the present modification |
The charge on
immovable properties is increased upto Rs. 6.500 Millions to cover Cash Credit
(Hypothecation of Stocks and Book debts) facility [increased from Rs.4.000 Millions] with
sublimit : DAUE of Rs. 0.500 Million |
FIXED ASSETS:
·
Air Conditioner
·
Air Turbo Ventilator
·
Cellular Phones
·
Computers
·
Control Panels, Ms Frame and
·
Electric Installations
·
·
Fax Machine
·
Fire Extinguisher
·
Furniture and Fixtures
·
Flat at Kashimira
·
Lable Cutting and Glueing
Machine
·
Land at Kashimira
·
Motor Car – Maruti Swift
·
Motor Car Tata Indica Turbo
·
Motor Car Toyato Inovo
·
Motor Car Mahindra Scorpio
·
Motor Car Tata Indica
·
Office Equipments
·
Plant and Machineries
·
Plastic Straping Machine
·
Scooter
·
Software Tally 9
·
TDS Software
·
Tempo 10.90
·
Tools and 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. 55.76 |
|
|
1 |
Rs. 86.69 |
|
Euro |
1 |
Rs. 70.44 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.