MIRA
INFORM REPORT
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Report Date : |
30.06.2012 |
IDENTIFICATION DETAILS
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Name : |
MAG TECH PROCESS EQUIPMENTS PRIVATE LIMITED |
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Registered Office : |
S-22, Industrial Area, Anand Parbat, Street No. 12, New Rohtak Road,
New Delhi-110005 |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
24.06.2008 |
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Com. Reg. No.: |
55-179975 |
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Capital
Investment / Paid-up Capital : |
Rs.2.500 Millions |
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CIN No.: [Company
Identification No.] |
U29220DL2008PTC179975 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Supplier of Process Equipments for Chemical Industry. |
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No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (30) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 23000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Trade
relations are reported to be fair. Business is active. Payments are reported
to be slow but correct. The company can be considered normal 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
|
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. Riazuddin Tomar |
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Designation : |
Director |
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Contact No.: |
91-9818159190 |
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Date : |
19.06.2012 |
LOCATIONS
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Registered Office : |
S-22, Industrial Area, Anand Parbat, Street No. 12, New Rohtak Road,
New Delhi-110005, India |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9818159190 (Mr. Riazuddin Tomar) |
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Fax No.: |
Not Available |
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E-Mail : |
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Location : |
Owned |
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Corporate Office : |
B-17, |
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Tel. No.: |
91-120-6452536 |
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Fax No.: |
91-120-4158030 |
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Location : |
Owned |
DIRECTORS
As on 30.09.2011
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Name : |
Mr. Riazuddin Tomar |
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Designation : |
Director |
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Address : |
B-832, |
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Date of Birth/Age : |
01.06.1973 |
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Qualification : |
MBA |
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Date of Appointment : |
24.06.2008 |
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Din No.: |
02177705 |
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Name : |
Mr. Parveen Hashmi |
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Designation : |
Director |
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Address : |
B-832, |
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Date of Birth/Age : |
23.09.1974 |
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Qualification : |
Graduate |
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Date of Appointment : |
24.06.2008 |
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Din No.: |
02188970 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
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No. of Shares |
|
Riazuddin Tomar |
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105000 |
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Parveen Hashmi |
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105000 |
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Samman Trading Private Limited, India |
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15000 |
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Renee Trading Private Limited, India |
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25000 |
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Total |
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250000 |
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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Bodies
corporate |
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16.00 |
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Directors
or relatives of directors |
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84.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Supplier of Process Equipments for Chemical Industry. |
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Products : |
·
Fabricated Reactors ·
Crystallizers ·
Centrifuges ·
Heat Exchangers ·
Distillation Systems ·
Industrial Drying Equipments ·
P-FRP and FRP Vessels ·
Material Handling Equipments ·
Water Management Systems |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
China |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
GENERAL INFORMATION
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Suppliers : |
·
Jindal Stainless Limited |
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Customers : |
End Users and Others ·
Teva Api India Limited |
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No. of Employees : |
80 (Approximately) |
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Bankers : |
·
Vijaya
Bank, Indirapuram, Ghaziabad-201010, Uttar Pradesh, , India ·
State
Bank of India, Mahrajpur, Ghaziabad-201001, Uttar Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vinay Satya and Company Chartered Accountant |
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Address : |
SF-18, 2nd Floor, New Central Market, Ambedkar Road,
Ghaziabad-201001, Uttar Pradesh, India
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Tel. No.: |
91-120-4135770 |
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Mobile No.: |
91-9810589050 |
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Pan No.: |
ACGPG4970P |
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Associates/Subsidiaries : |
·
Megatech Engineers Address: Ghaziabad,
Uttar Pradesh, India Line
of Business: Manufacturer of Process Equipments for Chemical Industry. |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
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 |
2.500 |
2.100 |
2.100 |
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2] Share Application Money |
2.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.437 |
0.788 |
0.292 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
5.937 |
2.888 |
2.392 |
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LOAN FUNDS |
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1] Secured Loans |
6.053 |
5.350 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
6.053 |
5.350 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.020 |
0.072 |
0.000 |
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TOTAL |
12.010 |
8.310 |
2.392 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.387 |
4.014 |
1.208 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.007 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
21.048
|
5.194
|
7.041 |
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Sundry Debtors |
6.061
|
3.265
|
1.750 |
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Cash & Bank Balances |
0.262
|
0.063
|
0.288 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
4.220
|
1.418
|
0.868 |
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Total
Current Assets |
31.591
|
9.940
|
9.947 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
11.678
|
4.168 |
6.820 |
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Other Current Liabilities |
11.503
|
0.836
|
1.608 |
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Provisions |
0.787
|
0.640
|
0.342 |
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Total
Current Liabilities |
23.968
|
5.644
|
8.770 |
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Net Current Assets |
7.623
|
4.296
|
1.177 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
12.010 |
8.310 |
2.392 |
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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 |
54.078 |
30.114 |
22.090 |
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Less |
EXPENSES |
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Administrative Expenses |
53.139 |
29.375 |
21.674 |
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Advertising Expenses |
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TOTAL |
53.139 |
29.375 |
21.674 |
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PROFIT / (LOSS)
BEFORE TAX |
0.939 |
0.739 |
0.416 |
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Less |
TAX |
0.290 |
0.243 |
0.123 |
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PROFIT / (LOSS)
AFTER TAX |
0.649 |
0.496 |
0.293 |
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Earnings /
(Loss) Per Share (Rs.) |
2.60 |
2.36 |
1.40 |
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Particulars |
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|
31.03.2012 |
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Sales Turnover [Approximately] |
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|
80.000 |
Expected Sales (2012-13) : Rs.120.000 Millions.
The above information has been parted by Mr. Riazuddin Tomar.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.20
|
1.64 |
1.32 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.61
|
5.29 |
3.72 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.25 |
0.17 |
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Debt Equity Ratio (Total Liability/Networth) |
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5.05
|
3.80 |
3.66 |
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Current Ratio (Current Asset/Current Liability) |
|
1.32
|
1.76 |
1.13 |
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) Constitutions 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 |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
Yes |
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12) Profitability for last three years |
Yes |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
Yes |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
Yes |
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17) Major suppliers |
Yes |
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18) Major customers |
Yes |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
Yes |
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21) Market information |
-- |
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22) Litigations that the firm / promoter involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if applicable |
Yes |
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29) Last accounts filed at ROC |
Yes |
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30) Major Shareholders, if available |
Yes |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U29220DL2008PTC179975 |
|
Name of the
company |
MAG TECH PROCESS
EQUIPMENTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
S-22, Industrial Area, Anand Parbat, Street No. 12, New Rohtak Road,
New Delhi-110005, India |
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Type of charge |
Book Debts Movable Property
[not being pledge] Immovable
Property Any Interest in
Immovable Property |
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Particular of
charge holder |
State Bank of
India, Mahrajpur, Ghaziabad-201001, Uttar Pradesh, India |
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Email |
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Nature of
description of the instrument creating or modifying the charge |
Agreement of hypothecation
of goods & assets |
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Date of
instrument Creating the charge |
28.05.2011 |
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Amount secured by
the charge |
Rs.17.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest For WC @6.5%plus
base rate at monthly rest Terms of
Repayment On Demand Margin 40% Margin on
issuance of Bank Guarantee 25% Margin on
stocks 50% Margin on
receivables Extent and
Operation of the charge Rs. 17.500
millions only, which comprises of cash credit of Rs. 11.500 millions (in
which Rs 3.000 millions for book debts) and bank guarantee of Rs. 6.000
millions. Others Monthly stock
statements, qis data insurance of stock at company's cost |
|
Short particulars
of the property charged |
Hypothecation of
Raw materials, Finished goods, semi finished goods, Consumable stores,
Packing material, Book debts, Machinery and other assets Equitable mortgage
of residential land and building at 832, 8th floor gaur green avenue module
01 and 02 K home type Block B Abhay Khand 2, Indirapuam |
FIXED ASSETS:
·
Computer
·
Air Conditioner
·
Car
·
Generator
·
Machinery
·
R.O. Water
·
Voltage Stabilizer
·
Inverter
·
Fax Machines
·
Mobile
·
Cycles
·
Scooter
·
Furniture
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.56.30 |
|
|
1 |
Rs.88.06 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Information Gathered
by : |
SBA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.