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Report Date : |
27.11.2012 |
IDENTIFICATION DETAILS
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Name : |
VIJSUN ENGINEERS PRIVATE LIMITED |
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Registered
Office : |
S No 370/2K, |
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Country : |
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Date of
Incorporation : |
03.09.1990 |
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Com. Reg. No.: |
11-057993 |
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Capital
Investment / Paid-up Capital : |
Rs.0.002 Million |
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CIN No.: [Company Identification
No.] |
U29299PN1990PTC057993 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Not divulged |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Dormant |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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Comments : |
Subject is a company whose management has not filed its financial with
the government department since 2000. The status of the company appears to be dormant in the registrar of
companies. The Accounts Manager, Mr. Gumpekar, denied to provide any information
of the subject to us. No other details could be made available. Initially, the company can be considered for business dealings on a
fully secured 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
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 |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Gumpekar |
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Designation : |
Accounts Manager |
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Contact No.: |
91-2423-285688 |
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Date : |
26.11.2012 |
LOCATIONS
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Registered Office : |
S No 370/2K, Kokamthan Nagarmanmal Highway, Taluka
Ahmednagar – 423601, Maharashtra, India |
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Tel. No.: |
91-2423-285688 / 221987 / 221988 |
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Fax No.: |
91-2423-221987 |
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E-Mail : |
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Website : |
DIRECTORS
NOT DIVULGED
KEY EXECUTIVES
|
Name : |
Mr. Gumpekar |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
NOT DIVULGED
BUSINESS DETAILS
|
Line of Business : |
Not Divulged |
GENERAL INFORMATION
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No. of Employees : |
Information declined by the management. |
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Bankers : |
The Akola Urban Co-Op Bank Limited, Akola Through Main Branch Jankalyan,
Old Cotton Market, Akola – 444001, Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
Not Divulged |
CAPITAL STRUCTURE
Authorised Capital : Rs.0.500 Million
Issued, Subscribed & Paid-up Capital : Rs.0.002 Million
FINANCIAL DATA
[all figures are
in Rupees Millions]
NOT DIVULGED
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
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6] |
Line of Business |
No |
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7] |
Promoter's background |
No |
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8] |
No. of employees |
No |
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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 |
No |
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12] |
Profitability for last
three years |
No |
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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 |
No |
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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
(if applicable) |
No |
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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 |
No |
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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 |
No |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
-- |
|
30] |
Major Shareholders, if
available |
-- |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
BANKERS CHARGES
REPORT AS PER REGISTRY
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Corporate identity number of the company |
U29299PN1990PTC057993 |
|
Name of the company |
VIJSUN ENGINEERS PRIVATE LIMITED |
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Address of the registered office or of the principal place of business in India of the company |
S No 370/2K, Kokamthan Nagarmanmal Highway, Taluka Ahmednagar – 423601, Maharashtra, India |
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This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10155546 |
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Type of charge |
Uncalled share capital Immovable property Any interest in immovable property Book debts Movable property (not being pledge) Floating charge Goodwill |
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Particular of charge holder |
The Akola Urban Co-Op Bank Limited, Akola Through Main Branch Jankalyan, Old Cotton Market, Akola – 444001, Maharashtra, India E-mail Id : companyclient007@gmail.com |
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Nature of instrument creating charge |
1. Deed of Hypothecation of Plant and Machinery. 2. Agreement of Hypothecation of Book Debts. 3. Deed of Hypothecation. |
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Date of instrument Creating the charge |
19.03.2009 |
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Amount secured by the charge |
Rs.20.000 Millions |
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Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest For Hypothecation loan of Rs. 20.000 Millions, the rate of interest is 14.75% p.a. (monthly rest). Terms of Repayment The Hypothecation Loan of Rs. 20.000 Millions is to repay within 36 months by transaction. Margin Hypothecation loan shall not exceed 70% of cost of value of the goods. Extent and Operation of the charge The Charge extend to loan amount together with interest thereon, cost and expenses and operate on movable and immovable properties as mentioned in the loan agreement ( creation and Modification) |
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Short particulars of the property or asset(s) charged (including complete address and location of the property) |
(Under present modification): hypothecation of all plant, machinery, tools, accessories (present and future) with outstanding book debts, monies receivables, claims, approved book debts (present and future), goods, implements or other goods ( present and future), uncalled capital, goodwill, hypothecation of goods. |
|
Particulars of the present modification |
The hypothecation limits of Rs. 20.000 Millions remains same the charge is modifying by extension of charge on additional properties i.e Hypothecation of all plant, machinery, tools, accessories (present and future) with outstanding book debts, monies receivables, claims, approved book debts (present and future)with hypothecation of goods. |
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 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.55.69 |
|
|
1 |
Rs.89.20 |
|
Euro |
1 |
Rs.72.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
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Report Prepared
by : |
BSN |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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.