|
Report Date : |
29.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
TARINI COTTONS PRIVATE LIMITED |
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Registered
Office : |
At Post Khede,
Mukkam - Sutrepada, Dhule – 424 302, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
06.01.2005 |
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Com. Reg. No.: |
11-150455 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 million |
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CIN No.: [Company Identification
No.] |
U17120MH2005PTC150455 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NSKT03452B |
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PAN No.: [Permanent Account No.] |
AACCT3189N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Textile and Textile Articles. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Yet to commence business activity |
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Payment Behaviour : |
Unknown |
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Litigation : |
-- |
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Comments : |
Though the company was incorporated in the year 2005. But they have
not started their business activity. As confirmed with Mr. Vijay (Export
Manager) company will start their business activity from October 2012.
Payments are unknown. The company can be considered for business dealings on a safe and
secure 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 |
|
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
|
Registered Office : |
At Post Khede,
Mukkam - Sutrepada, Dhule – 424 302, |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9769111237 (Mr. Vijay - Export Manager) |
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Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
As on 18.08.2011
|
Name : |
Mr. Deepak Maruti Shivalkar |
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Designation : |
Director |
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Address : |
C/601, 6th Floor, Sahdev, N.L. Complex, Dahisar (East),
Mumbai – 400 068, |
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Date of Birth/Age : |
19.09.1968 |
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Date of Appointment : |
06.01.2005 |
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DIN No.: |
01427378 |
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Name : |
Mr. Ashish Virendra Bahadur |
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Designation : |
Director |
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Address : |
Flat No.701/B, |
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Date of Birth/Age : |
11.05.1967 |
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Date of Appointment : |
06.01.2005 |
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DIN No.: |
01444885 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Vijay |
|
Designation : |
Export Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.08.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ashish Virendra Bahadur |
|
900 |
|
Deepak Maruti Shivalkar |
|
9100 |
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Total |
|
10000 |
As on 16.05.2012
|
Names of Allottees |
|
No. of Shares |
|
Deepak Maruti Shivalkar |
|
120000 |
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Ashish Virendra Bahadur |
|
120000 |
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Total |
|
240000 |
As on 18.08.2011
|
Equity Share Breakup |
|
Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Textile and Textile Articles. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
v State Bank of v Axis Bank Limited,
Andheri Branch, Royal Accord IV, Lokhandwala Complex, Andheri (West), Mumbai
– 400 053, Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
N. Ambawat and Associates Chartered Accountants |
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Address : |
Office No.30, 2nd Floor, 132-C, Bhagatwadi, Bhuleshwar,
Mumbai – 400 002, |
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Tel. No.: |
91-22-65791224/ 66154195 |
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Mobile No.: |
91-9324725156/ 9323450396 |
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Income-tax
PAN of auditor or auditor's firm : |
AABPA9113F |
CAPITAL STRUCTURE
After 18.08.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 millions |
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|
|
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As on 18.08.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 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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|
|
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|
1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.243 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.343 |
0.100 |
0.100 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
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TOTAL |
0.343 |
0.100 |
0.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
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Capital work-in-progress |
0.076 |
0.076 |
0.076 |
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|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
0.000
|
0.000 |
0.000 |
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Cash & Bank Balances |
0.132
|
0.075 |
0.098 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans, Advances & Deposits |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
0.132
|
0.075 |
0.098 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.170 |
0.166 |
|
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Other Current Liabilities |
0.000
|
0.000 |
0.000 |
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Provisions |
0.008
|
0.008 |
0.004 |
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Total
Current Liabilities |
0.008
|
0.178 |
0.170 |
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Net Current Assets |
0.124
|
(0.103) |
(0.072) |
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MISCELLANEOUS EXPENSES |
0.143 |
0.127 |
0.096 |
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TOTAL |
0.343 |
0.100 |
0.100 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
0.000 |
0.000 |
0.000 |
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Other Income |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.000 |
0.000 |
0.000 |
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|
Less |
TOTAL EXPENSES |
0.000 |
0.000 |
0.000 |
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PROFIT BEFORE
TAX |
0.000 |
0.000 |
0.000 |
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Less |
TAX |
0.000 |
0.000 |
0.000 |
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PROFIT AFTER TAX
|
0.000 |
0.000 |
0.000 |
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|
|
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|
Earnings Per
Share (Rs.) |
0.00 |
0.00 |
0.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
0.00
|
0.00
|
|
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|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.00
|
0.00
|
0.00
|
|
|
|
|
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|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.02
|
1.78 |
1.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
16.50
|
0.42 |
0.58 |
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) Constitutions 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 |
No |
|
9) Name of person
contacted |
No |
|
10) Designation
of contact person |
No |
|
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 |
No |
|
15) Capital in
the business |
Yes |
|
16) Details of
sister concerns |
No |
|
17) Major
suppliers |
No |
|
18) Major
customers |
No |
|
19) Payments
terms |
No |
|
20) Export /
Import details (if applicable) |
No |
|
21) Market
information |
-- |
|
22) Litigations
that the firm / promoter involved in |
-- |
|
23) Banking
Details |
Yes |
|
24) Banking
facility details |
Yes |
|
25) Conduct of
the banking account |
-- |
|
26) Buyer visit
details |
-- |
|
27) Financials,
if provided |
Yes |
|
28) Incorporation
details, if applicable |
Yes |
|
29) Last accounts
filed at ROC |
Yes |
|
30) Major
Shareholders, if available |
Yes |
Note:
The registered office of the company has been shifted from
BUSINESS ACTIVITY:
The company has not carried on any commercial activities during the
year. The management is hopeful to commence commercial activities very soon and
waiting for future opportunities.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U17120MH2005PTC150455 |
|
Name of the
company |
TARINI COTTONS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
At Post Khede,
Mukkam - Sutrepada, Dhule – 424 302, E-Mail: cs@samruddha.net |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property
(not being pledge) |
|
Particular of
charge holder |
State Bank of E-Mail: kamalax_saraf@hotmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement of Loan
- cum - Hypothecation |
|
Date of
instrument Creating the charge |
09.05.2012 |
|
Amount secured by
the charge |
Rs.7.500 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: 3.25% above base
rate + 1.00% (Term Premium) which is presently 10.00% p.a. rising or falling
therewith, on daily products with monthly rests. Present effective rate =
14.25% p.a. Terms of
Repayment: To be repaid
within 92 months including moratorium period of 11 months. The repayment at
quarterly interval starting from April 2013. Margin: Term Loan/ DPG:
25% Extent and
Operation of the charge: Term Loan:
Rs.7.500 millions |
|
Short particulars
of the property charged |
Hypothecation of
looms, compressor and other movable assets acquired out of Bank Finance. |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record exists
to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.92 |
|
|
1 |
Rs.88.90 |
|
Euro |
1 |
Rs.71.25 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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.