MIRA
INFORM REPORT
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Report Date : |
10.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
EXCULSIVE FIBERS
PRIVATE LIMITED |
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Registered
Office : |
31/3203, Beadon Pura, Karol Bagh, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
16.04.2004 |
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Com. Reg. No.: |
55-125846 |
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Capital
Investment / Paid-up Capital : |
Rs. 23.144 Millions |
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CIN No.: [Company Identification
No.] |
U47999DL2004PTC125846 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufactures, dealers and distributors of all kind of polyster and
polyster products, stable fiber, yarns and fibers. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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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 146000 |
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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 record. Profitability
of the company appears to be low. However, trade relation are reported as
fair. Business is active. Payments are reported to be slow but correct. The company can considered for business dealings with some coution. |
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
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
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.
LOCATIONS
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Registered Office : |
31/3203, Beadon Pura, Karol Bagh, |
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Tel. No.: |
91-11-28725281 |
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Fax No.: |
91-11-26365812 |
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E-Mail : |
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Website : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Rajeev Aggarwal |
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Designation : |
Director |
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Address : |
34, Block No.-3, 2nd Floor, |
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Date of Birth/Age : |
22.07.1967 |
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Date of Appointment : |
16.04.2004 |
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DIN No.: |
00442120 |
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Other Directorship:
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Name : |
Mrs. Meenu Aggarwal |
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Designation : |
Director |
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Address : |
34, Block No.-3, 2nd Floor, |
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Date of Birth/Age : |
20.05.1970 |
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Date of Appointment : |
16.04.2004 |
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DIN No.: |
00442229 |
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Other Directorship:
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MAJOR SHAREHOLDERS
As on 29.09.2012
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Names of Shareholders |
No. of Shares |
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Mr. Rajeev Aggarwal |
1164290 |
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Mrs. Meenu Aggarwal |
1150150 |
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Total |
2314440 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures, dealers and distributors of all kind of polyster and
polyster products, stable fiber, yarns and fibers. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Corporation Bank, Karol Bagh Branch, Karol Bagh, |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
PARM and SMRN Chartered Accountant |
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Address : |
Office No.403, Block No-B, NDM-1, Mall Road, Netaji Subhash Place,
Pitampura, New Delhi – 110 034, India |
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Tel. No.: |
91-11-47050400/04 |
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Fax No.: |
91-11-47050405 |
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Email ID : |
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Website : |
Parmandsmrn.com |
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PAN No.: |
AAJFP2311C |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
2314440 |
Equity Shares |
Rs. 10/- each |
Rs. 23.144 Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
23.144 |
11.572 |
4.629 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
13.235 |
24.550 |
30.824 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
36.379 |
36.122 |
35.453 |
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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 |
0.629 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.629 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.041 |
0.000 |
0.000 |
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TOTAL |
37.049 |
36.122 |
35.453 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
34.441 |
0.000 |
0.000 |
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Capital work-in-progress |
0.430 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
30.900 |
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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 |
3.655
|
3.046 |
2.692 |
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Sundry Debtors |
0.000
|
8.817 |
1.969 |
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Cash & Bank Balances |
2.434
|
30.376 |
0.187 |
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Other Current Assets |
0.661
|
9.829 |
0.000 |
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Loans & Advances |
0.000
|
0.000 |
0.031 |
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Total
Current Assets |
6.750
|
52.068 |
4.879 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.000
|
8.884 |
0.051 |
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Other Current Liabilities |
4.572
|
6.837 |
0.000 |
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Provisions |
0.000
|
0.225 |
0.343 |
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Total
Current Liabilities |
4.572
|
15.946 |
0.394 |
|
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Net Current Assets |
2.178
|
36.122 |
4.485 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.068 |
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TOTAL |
37.049 |
36.122 |
34.453 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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TOTAL INCOME |
82.813 |
73.358 |
27.541 |
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Less |
TOTAL
EXPENDITURE |
85.514 |
72.682 |
27.198 |
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PROFIT BEFORE
TAX |
0.299 |
0.676 |
0.343 |
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Less |
TAX |
0.041 |
0.225 |
0.125 |
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Less |
PROVISION FOR
CORPORATE DIVIDEND TAX |
0.000 |
(0.032) |
0.031 |
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Less |
PROVISION FOR
DIVIDED |
0.000 |
(0.186) |
0.186 |
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PROFIT AFTER TAX |
0.258 |
0.669 |
0.000 |
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Earnings Per
Share (Rs.) |
0.11 |
0.58 |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.31
|
0.92 |
0.00 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.36
|
0.92 |
1.25 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.73
|
1.30 |
7.03 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.02 |
0.01 |
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Debt Equity Ratio (Total Debt /Networth) |
|
0.17
|
0.00 |
0.00 |
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Current Ratio (Current Asset/Current Liability) |
|
1.48
|
3.27 |
12.38 |
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 |
Yes |
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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 |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if
available |
No |
UNSECURED LOAN:
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
|
Rs. in Millions |
|
|
Loan From Directors |
|
|
|
Rajeev Aggarwal |
0.329 |
0.000 |
|
Menu Aggarwal |
0.300 |
0.000 |
|
Total |
0.629 |
0.000 |
BANKERS CHARGES REPORT
AS PER REGISTRY
|
Corporate identity number of the company |
U74999DL2004PTC125846 |
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Name of the company |
EXCLUSIVE FIBERS PRIVATE LIMITED |
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Address of the registered office or of the principal place of business in |
31/3203, Beadon Pura, Karol Bagh, |
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Charge Identity Number |
10390527 |
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This form is for |
Creation of charge |
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Type of charge |
Immovable property Book debts Movable property (not being pledge) Others |
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If others, specify |
Plant and Machinery and Other Fixed Assets |
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Particular of charge holder |
Corporation Bank, Karol Bagh branch, Karol Bagh, |
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Email |
casaurabhgoel.roc@gmail.com |
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Nature of description of the instrument creating or modifying the charge
|
As per Common Deed of Hypothecation of Moveable/Assets/Debts and
Memorandum of Deposits of Title Deeds Agreement of Term Loan dated 16.10.2012
attached. |
|
Date of instrument Creating the charge |
16.10.2012 |
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Amount secured by the charge |
Rs. 250.000 Millions |
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Brief particulars of the principal terms an conditions and extent and
operation of the charge |
Rate of interest Term Loan-The
rate shall be charged @ BR+4.10% p.a. i.e. 14.60% p.a. presently with monthly
rests or rates as may be prescribed by Bank from time to time Terms of
repayment Term Loan -
Repayable in 84 monthly incitements of Rs.2.976 Millions each commencing
after 24 months after the first disbursement. Interest to be paid separately
as and when due. Margin 26.38% Extent and
operation of the charge 100% Others Credit
facilities of Rs. 250.000 Millions has been granted by bank to the company in
the following manner:- Term Loan - Rs. 250.000
Millions (for setting up project for Carpet Manufacturing) LC limit(sub
limit) - Rs.100.000 Millions Total
-Rs.250.000 Millions |
|
Short particulars of the property charged |
i)
Hypothecation/First charge of Stock of
raw-materials, semi-finished and finished goods. ii)
Hypothecation of Book Debts (both present and
future). iii)
Hypothecation/First charge on Plant and Machinery
installed or to be installed. iv)
Hypothecation/First charge on other moveable
assets. v)
Equitable Mortgage of Land (open) situated at Plot
No. D-2/E/16 in Dahej-II, Industrial Estate, Survey No - 211/P, C.T., 218/P,
219/P, 222/P Mouje, Galenda, Vagra, Bharuch, Gujar |
COMPANY’S GENERAL BUSINESS PROFILE:
The company is a Private Limited Company
incorporated in
CONTINGENT
LIABILITIES:
A Contingent liability is possible obligation that arises from past
event whose existence will be confirmed by the occurrence or non occurrence of
one or more uncertain future events beyond the control of the company or a
present obligation that is not recognized because it is not probable that an
outflow of recourses will be required to settle the obligation. A contingent
liability also in extremely rare cases where there is a liability that cam be
recognized because it can not measure reliably. The company does not recognize
a contingent liability but discloses its existence in the financial statement.
No contingent liability exist as in 31.03.2012
FIXED ASSETS:
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. 54.241 |
|
|
1 |
Rs. 84.296 |
|
Euro |
1 |
Rs. 71.362 |
INFORMATION DETAILS
|
Report Prepared
by : |
VNT |
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 |
2 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.