MIRA
INFORM REPORT
|
Report Date : |
16.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
U K POLYPLAST PRIVATE LIMITED |
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Registered
Office : |
B-37, New Empire Industrial Estate, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
24.11.2004 |
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Com. Reg. No.: |
11-149674 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U25200MH2004PTC149674 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of PP Sheets, CD Holder, Document Bag,
Shopping Bags, Display Books, etc. |
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No. of Employees
: |
150 Approximately [In Office + In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having moderate track record. Management of the company has failed to file its financials of 2012
with government department. As per previous, there appears some accumulated losses recorded by the
company. However, trade relation reported to be fair. Business is active.
Payment terms are reported to be unknown. The company can be considered for business dealing 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
|
Name : |
Mr. Umesh Kumar |
|
Designation : |
Director |
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Contact No.: |
91-9833526196 |
|
Date : |
29.06.2012 |
LOCATIONS
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Registered Office : |
B/37, New Empire Industrial Estate, |
|
Tel. No.: |
91-22-66920358/ 66920354/ 30883456/ 57/ 58/ 59/ 60/ 56920358 |
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Mobile No.: |
91-9833526196 (Mr. Umesh) |
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Fax No.: |
91-22-66920358/ 56920354 |
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E-Mail : |
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Website : |
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Area : |
800 Sq.fts. |
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Location : |
Owned |
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Factory : |
376-10, 1st Floor, |
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Tel. No.: |
91-260-3207217 |
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Area : |
10000 Sq.fts. |
|
Location : |
Rented |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Umesh Balbeer Sharma |
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Designation : |
Director |
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Address : |
1503, |
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Date of Birth/Age : |
31.05.1973 |
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Date of Appointment : |
24.11.2004 |
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DIN No.: |
01237581 |
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Name : |
Mrs. Krishnadevi Sharma |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Amol |
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Designation : |
Marketing Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Umesh Balbeer Sharma |
|
5100 |
|
Bachubhai Vagagi Patel |
|
4900 |
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Total |
|
10000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of PP Sheets, CD Holder, Document Bag, Shopping
Bags, Display Books, etc. |
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|
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Products : |
Ø
Expanding
Files Ø Display Books Ø Document Bags Ø Clear Holders Ø Photo Albums Ø 3D Products Ø OEM products Ø Visiting Card Inner Ø Sheet Protector Ø Clip Files Ø Ring Binders Ø Shopping Bags Ø Name Card Holder Ø ISO Lens PP Lenticular Sheets Ø Offset Printing PP products Ø Display Card Inner Ø Blow Films Ø
CD Holders |
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Exports : |
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Products : |
·
PP Sheets ·
Files and Holders |
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Countries : |
·
UAE ·
South Africa |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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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 : |
Vansh Polyvinyl |
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Customers : |
End Users Ø
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No. of Employees : |
150 Approximately [In Office + In Factory) |
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Bankers : |
Ø
Axis Bank Limited, Andheri, Ø
The Saraswat Co-operative Bank Limited, Mahim
Branch, GSB Temple Building, Sitaladevi
Temple Road, Mahim, Mumbai-400 016, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. Suresh D. Chauhan Chartered Accountant |
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Address : |
16/196D, Cavel Cross Lane 7, Vigas Street, Kalbadevi, Mumbai-400 002,
Maharashtra, India |
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PAN.: |
AFPPC8096Q |
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Associates/Subsidiaries : |
Ø
U. K. Plastic
(HUF) Address: B/37, New
Empire Industrial Estate, Line
of Business: Trader of PP Sheets |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
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|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
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 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
3.173 |
5.807 |
|
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4] (Accumulated Losses) |
(0.069) |
0.000 |
0.000 |
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NETWORTH |
0.031 |
3.273 |
5.907 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.349 |
17.022 |
43.730 |
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2] Unsecured Loans |
15.648 |
16.594 |
19.183 |
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TOTAL BORROWING |
15.997 |
33.616 |
62.913 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
16.028 |
36.889 |
68.820 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
10.041 |
31.489 |
44.081 |
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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 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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|
|
Inventories |
8.847
|
10.833 |
13.212 |
|
|
Sundry Debtors |
0.709
|
4.639 |
7.593 |
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Cash & Bank Balances |
0.149
|
0.887 |
20.421 |
|
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Other Current Assets |
1.261
|
1.260 |
0.977 |
|
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Loans & Advances |
2.307
|
5.990 |
0.354 |
|
Total
Current Assets |
13.273
|
23.609 |
42.557 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
18.071 |
16.101 |
|
|
Other Current Liabilities |
15.502
|
0.000 |
0.092 |
|
|
Provisions |
0.130
|
0.251 |
1.782 |
|
Total
Current Liabilities |
15.632
|
18.322 |
17.975 |
|
|
Net Current Assets |
(2.359)
|
5.287 |
24.582 |
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MISCELLANEOUS EXPENSES |
8.346 |
0.113 |
0.157 |
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TOTAL |
16.028 |
36.889 |
68.820 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
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SALES |
|
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|
|
|
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Income |
|
53.767 |
45.077 |
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Other Income |
|
4.374 |
15.680 |
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TOTAL (A) |
|
58.141 |
60.757 |
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|
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Less |
EXPENSES |
|
|
|
|
|
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|
Materials |
|
44.556 |
33.901 |
|
|
|
Payments to Employees |
|
0.756 |
1.638 |
|
|
|
Operating and General Expenses |
|
4.949 |
3.291 |
|
|
|
TOTAL (B) |
|
50.261 |
38.830 |
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
7.880 |
21.927 |
|
|
|
|
|
|
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Less |
FINANCIAL
EXPENSES (D) |
|
4.146 |
4.858 |
|
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|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
3.734 |
17.069 |
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
6.368 |
3.679 |
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|
PROFIT BEFORE
TAX (E-F) (G) |
|
(2.634) |
13.390 |
|
|
|
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|
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Less |
TAX (I) |
|
0.000 |
1.712 |
|
|
|
|
|
|
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|
PROFIT AFTER TAX
(G-I) (J) |
|
(2.634) |
11.678 |
|
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|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
5.807 |
(5.871) |
|
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|
BALANCE CARRIED
TO THE B/S |
|
3.173 |
5.807 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
263.45 |
1167.79 |
|
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
|
24.100 |
20.000 |
|
|
|
(Due to Market
Fluctuation) |
|
The above information has been parted by Mr. Umesh Kumar
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
-
|
(4.53) |
19.22 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
-
|
(4.90) |
29.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
-
|
(4.78) |
15.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
-
|
(0.80) |
2.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1020.29
|
15.87 |
13.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.85
|
1.29 |
2.37 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
Yes |
|
5] |
Type of
Business |
Yes |
|
6] |
Line of
Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of
employees |
Yes |
|
9] |
Name of
person contacted |
Yes |
|
10] |
Designation
of contact person |
Yes |
|
11] |
Turnover of
firm for last four years |
Yes |
|
12] |
Profitability
for last two 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 |
Yes |
|
17] |
Major
suppliers |
Yes |
|
18] |
Major
customers |
Yes |
|
19] |
Payments
terms |
Yes |
|
20] |
Export /
Import details (if applicable) |
Yes |
|
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 |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
NOTE:
The registered office of the company has been shifted
from 1503, Badrinath Tower, Opposite Sanjiv Enclave Building, 7 Bunglows,
Andheri (West), Mumbai-400 061, Maharashtra, India to the present address w.e.f
04.12.2007.
UNSECURED LOAN:
|
Particulars |
31.03.2011 (Rs.
In Millions) |
31.03.2010 (Rs.
In Millions) |
|
From Shareholders |
|
13.519 |
|
From others |
|
3.075 |
|
Total |
15.648 |
16.594 |
TRADE REFERENCES:
Ø
Ø Vansh Polyvinyl
LITIGATION DETAILS:
Case Details
Branch:- Bombay
|
Lodging No:- SL/1331/2012
Filing Date:- 28.08.2012 |
|
Petitioner:- GOVIND PLASTIC BHANDAR
- Respondent:-
U.K.POLYPLAST PVT. LTD. Petn. Adv.:- ASHOK SINGH AND PREM
RANJAN KUMAR District:- OUTSIDE MAHARASHTRA |
|
Bench:- SINGLE Status:- Transferred Category:- MONETARY
SUITS Transfer Date:- 03.10.2012 Remark:- TRANSFERRED
TO THE CITY CIVIL COURT AT BOMBAY |
|
ACT:- Code of Civil Procedure 1908 |
INDEX CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10022194 |
12/09/2006 |
15,000,000.00 |
The Saraswat Co-operative Bank Limited |
Mahim Branch, GSB Temple Building,
Sitaladevi Temple Road, Mahim, Mumbai, Maharashtra - 400016, INDIA |
A05589759 |
|
2 |
10005880 |
03/05/2006 |
3,000,000.00 |
The Saraswat Co-operative Bank Limited |
Mahim Branch, GSB Temple Building,,
Sitaladevi Temple Road, Mahim, MUMBAI, Maharashtra - 400016, INDIA |
A01050210 |
|
3 |
80014514 |
06/10/2006 * |
9,500,000.00 |
The Saraswat Co-operative Bank Limited |
Mahim Branch, GSB Temple Building,, Sitaladevi
Temple Road, Mahim, MUMBAI, Maharashtra - 400016, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
Ø Furniture and Fixture
Ø Plant and Machinery
Ø Building
Ø Land
Ø Computer
Ø Advance for Car
Ø Motor Car
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.61.69 |
|
|
1 |
Rs.98.59 |
|
Euro |
1 |
Rs.83.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.