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Report Date : |
21.04.2014 |
IDENTIFICATION DETAILS
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Name : |
ASTOL CLEANTECH RIVATE LIMITED |
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Registered
Office : |
Flat No 5, IIND Floor, Plot No. E-26, Street
No. 17, Madhu Vihar, Delhi– 110092 |
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Country : |
India |
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Date of
Incorporation : |
02.08.2013 |
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Com. Reg. No.: |
256172 |
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CIN No.: [Company Identification
No.] |
U51399DL2013PT256172 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Importer Vacuum Cleaner, Industrial vacuum Cleaner. |
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No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company establishing itself gradually. Mr. Dinesh Rastogi, the Director Provided general information and
confirmed that the company has started
its business operation from December 01, 2013 and reported a minimal sales turnover during 2014. However, trade relations are improving. Business is active. Payment
terms are unknown. In view of unavailability of requisite information, the subject can be
considered for business dealings on a safe and 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 – December 1, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
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’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
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 PARTED BY
|
Name : |
Mr. Dinesh Rastogi |
|
Designation : |
Director |
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Contact No.: |
91-120-4268170 |
|
Date : |
02.04.2014 |
LOCATIONS
|
Registered Office : |
Flat No 5, IIND Floor, Plot No. E-26, Street No. 17, Madhu Vihar,
Delhi – 110092, India |
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Tel. No.: |
91-120-4268170 |
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E-Mail : |
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Factory : |
D-77 Sector 7, Noida-201301, Uttar Pradesh, India |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Dinesh Kumar Rastogi |
|
Designation : |
Director |
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Address : |
A-803 Amarpali, Vaishali Plot No.11/2 Sector 3 Vaishali, Ghaziabad, Uttar
Pradesh – 201010, India |
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Date of Birth/Age : |
10.01.1972 |
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DIN No.: |
06568189 |
Other Directorship:
|
Name : |
Mr. Anjali Rastogi |
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Designation : |
Director |
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Address : |
A-803, Amarpali Vaishali,Plot No. 11/2 Sector 3 Vaishali, Gaziabad, Uttar
Pradesh – 201010, India |
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Date of Birth/Age : |
27.11.1975 |
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DIN No.: |
06568244 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 02.08.2013
|
Names of Shareholders |
No. of Shares |
|
Dinesh Kumar Rastogi |
5000 |
|
Anjali Rastogi |
5000 |
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TOTAL
|
10000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer Vacuum Cleaner, Industrial Vacuum Cleaner. |
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Imports : |
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Countries : |
China |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
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Facilities : |
--- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. K. Khana Chartered Accountant |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital : Rs.5.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.5.000 Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
Expected Sales (2013-2014) : Rs.2.000 Million
The above information has been parted by Mr. Dinesh Rastogi
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 |
Yes |
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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 |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
No |
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13] |
Reasons for variation
<> 20% |
No |
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14] |
Estimation for coming
financial year |
No |
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15] |
Capital in the business |
No |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
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20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
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23] |
Banking Details |
Yes |
|
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 |
No |
|
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 |
No |
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.60.38 |
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|
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
GAT |
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
SHG |
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 |
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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 |
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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.