MIRA
INFORM REPORT
|
Report Date : |
25.06.2012 |
IDENTIFICATION DETAILS
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Name : |
RAMESH PACKAGING PRIVATE LIMITED |
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Registered
Office : |
106, Central Market, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
21.06.1985 |
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Com. Reg. No.: |
11-036646 |
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Capital
Investment / Paid-up Capital : |
Rs. 1.000 Million |
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CIN No.: [Company Identification
No.] |
U99999MH1985PTC036646 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNER07497A |
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PAN No.: [Permanent Account No.] |
AAACRB215R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Flexible Packaging Materials. |
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No. of Employees
: |
30(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
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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 9000 |
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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. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. 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
|
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
|
Name : |
Mr. Tulso |
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Designation : |
Director |
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Contact No.: |
91-251-2732028 |
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Date : |
21.06.2012 |
LOCATIONS
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Registered Office : |
106, Central Market, |
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Tel. No.: |
91-251-2732028 |
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Fax No.: |
Not Available |
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E-Mail : |
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Location : |
Owned |
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Factory : |
Plot No. F – 51, MIDC, Murbad, Near Old Petrol Pump, Thane, |
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. Tulso Girdharilal Thakurani |
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Designation : |
Director |
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Address : |
905, |
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Date of Birth/Age : |
02.12.1965 |
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Date of Appointment : |
17.10.1995 |
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DIN No.: |
00255270 |
Other Directorship :
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U99999MH1985PTC036646 |
RAMESH PACKAGING
PVT LTD |
Director |
17-10-95 |
17-10-95 |
Active |
NO |
|
2 |
U74999MH1999GAP118265 |
MURBAD
MANUFACTURERS ASSOCIATION LIMITED |
Director |
10-02-99 |
10-02-99 |
Active |
NO |
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Name : |
Mrs. Sonia Tulso Thakurani |
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Designation : |
Director |
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Address : |
905, |
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Date of Birth/Age : |
19.08.1968 |
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Date of Appointment : |
17.10.1995 |
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DIN No.: |
00260730 |
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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Kavita Rochaldas Chhatija |
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700 |
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Panchratan Textile Mills |
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305 |
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Tulso Girdharilal Thakurani |
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4995 |
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Sonia Tulso Thakurani |
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1890 |
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Girdharilal Thakurani |
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690 |
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Bhagwanti Thakurani |
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1420 |
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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 : |
Manufacturer of Flexible Packaging Materials. |
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Product: |
Printed P.P. HM and LDPE Bags. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
30 (Approximately) |
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Bankers : |
Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M.V. Keshwani and Company Chartered Accountants |
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Address : |
24, 1ST Floor, Prince Market, Furniture Bazar, Thane – 421003, |
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Tel. No.: |
91- 251-2711960 |
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E-Mail : |
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PAN NO.: |
ACQPK9748K |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
Authorised Capital :
|
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
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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 |
1.401 |
1.016 |
0.818 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.401 |
2.016 |
1.818 |
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LOAN FUNDS |
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1] Secured Loans |
4.002 |
3.828 |
2.184 |
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2] Unsecured Loans |
6.940 |
7.120 |
6.620 |
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TOTAL BORROWING |
10.942 |
10.948 |
8.804 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
13.343 |
12.964 |
10.622 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.260 |
1.474 |
1.739 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.078 |
0.015 |
0.000 |
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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 |
4.761
|
3.961 |
3.275 |
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Sundry Debtors |
10.039
|
8.417 |
7.022 |
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Cash & Bank Balances |
0.477
|
0.723 |
0.819 |
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Other Current Assets |
0.008
|
0.008 |
0.008 |
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Loans & Advances |
0.202
|
0.187 |
0.137 |
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Total
Current Assets |
15.487
|
13.296 |
11.261 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
2.909
|
1.483 |
1.995 |
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Other Current Liabilities |
0.366
|
0.211 |
0.265 |
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Provisions |
0.207
|
0.127 |
0.118 |
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Total
Current Liabilities |
3.482
|
1.821 |
2.378 |
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Net Current Assets |
12.005
|
11.475 |
8.883 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
13.343 |
12.964 |
10.622 |
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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 |
37.417 |
21.560 |
21.243 |
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OTHER INCOME |
NA |
NA |
NA |
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TOTAL INCOME |
NA |
NA |
NA |
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Office Expenses |
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Administrative Expenses |
NA |
NA |
NA |
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Advertising Expenses |
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TOTAL |
NA |
NA |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.824 |
0.609 |
0.563 |
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DEPRECIATION/
AMORTISATION |
0.232 |
0.284 |
0.285 |
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PROFIT BEFORE
TAX |
0.592 |
0.325 |
0.278 |
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Earnings Per
Share (Rs.) |
38.48 |
-- |
-- |
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Particulars |
|
|
31.03.2012 |
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Sales Turnover (Approximately) |
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|
35.000 |
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Expected Sales ( 2012-2013 ) : Rs. 40.000 Millions
The above information has been parted by Mr. Tulso
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
1.58
|
1.51 |
1.31 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.53
|
2.20 |
2.14 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.16 |
1.15 |
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Debt Equity Ratio (Total Liability/Networth) |
|
6.01
|
6.33 |
6.15 |
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Current Ratio (Current Asset/Current Liability) |
|
4.45
|
7.30 |
4.74 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
Year of Establishment |
Yes |
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Locality of the Firm |
Yes |
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Constitution 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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Promoter’s Background |
Yes |
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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 three years |
Yes |
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Profitability for last three years |
Yes |
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Reasons for variation <> 20% |
--------- |
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Estimation for coming financial year |
Yes |
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Capital in the business |
Yes |
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Details of sister concerns |
No |
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Major Suppliers |
Yes |
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Major Customers |
Yes |
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Payments Terms |
Yes |
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Export/ Imports Details (If applicable) |
No |
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Market Information |
------------- |
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Litigations that the firm/ Promoters 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 |
Yes |
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Incorporation details is applicable |
Yes |
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Last Accounts filed at ROC |
Yes |
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Major Shareholders, if available |
Yes |
NOTE:
The company changed its registered office from Shop No. 767 Lal
Bahadurshastri Chowk, Sector 17,
FORM 8
|
Corporate
identity number of the company |
U99999MH1985PTC036646 |
|
Name of the
company |
RAMESH PACKAGING
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Shop No. 767 Lal Bahadurshastri Chowk, Sector 17, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10095052 |
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Type of charge |
Movable Property (not being
pledge) |
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Particular of
charge holder |
Bank of Email: boiulhas@vsnl.net |
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Nature of description
of the instrument creating or modifying the charge |
Supplemental Deed
of Hypothecation |
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Date of
instrument Creating the charge |
14.01.2010 |
|
Amount secured by
the charge |
Rs. 1.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @0% BPLR
Minimum 12% monthly. Terms of
Repayment On Demand Margin As decided by
Bank and borrower. Extent and
Operation of the charge Extension of
Charge |
|
Short particulars
of the property charged |
All tangible,
movable machineries and plant, both present and future. all tangible movable
properties and assets. Stocks of raw materials, such as flexible packaging
materials etc. Finished and semi
finished goods, spares, parts components both present and future, situates at
106, Central Market, Opp. Central Hospital, Ulhasnagar. |
|
Date of latest
modification prior to the present modification |
18.03.2008 |
|
Particulars of the
present modification |
Original charge
was created in 11/03/2008 then in 18/03/2008 same charge was modified an
additional security at Plot No.F-51, admeasuring 1098 sq. mtrs. MIDC Murbad,
Dist Thane, including building and other structure, plant and machinery and
other fixers and fittings. By the present modification the charge is enhanced
form Rs.1.000 Millions to Rs.1.500 Millions. |
TRADE REFERENCES:
- Henkel
- T.R. Products
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. 56.99 |
|
|
1 |
Rs. 88.97 |
|
Euro |
1 |
Rs. 71.57 |
INFORMATION DETAILS
|
Report Prepared
by : |
ACH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.