MIRA INFORM REPORT
|
Report Date : |
10.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
NANDOSAL CHEM INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
76 Level-1, Deewan Centres, V Road, Jogeshwari West, Mumbai-400102,
Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
15.06.1987 |
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Com. Reg. No.: |
11-043772 |
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Capital
Investment / Paid-up Capital : |
Rs. 9.630 Millions |
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CIN No.: [Company Identification
No.] |
U24230MH1987PTC043772 |
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|
IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AAACN2606G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Fast Red B Base, Acetic Acid, Fast Scarlet
R Base, Based Dyes, Fast |
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No. of Employees
: |
Information decline by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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. The rating is constrained on account of a loss incurred by the company
during FY 2014. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealings 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.
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Manju |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-22-66987730 |
|
Date : |
09.12.2014 |
LOCATIONS
|
Registered Office : |
76 Level-1, Deewan Centres, V Road, Jogeshwari West, Mumbai-400102,
Maharashtra |
|
Tel. No.: |
91-22-66987730 |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory : |
Plot No. 49, Phase-I, Opposite Pidilite, GIDC, Vapi-396195, Gujarat,
India |
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Tel. No.: |
91-260-2427095 |
|
Mobile No.: |
91-9324071411 (Mr. Rashid) |
|
Fax No.: |
91-260-2430144 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Rashid I.Nandolia |
|
Designation : |
Director |
|
Address : |
B-307, Mohammed Manzil, Behram Baug Road, Jogeshwari (West) Mumbai -
400 102, Maharashtra |
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Date of Birth/Age : |
01.06.1950 |
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Date of Appointment : |
15.06.1987 |
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DIN No.: |
02036487 |
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Name : |
Mr. Usman I.Nandolia |
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Designation : |
Director |
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Address : |
B-204, Pakeeza CHS, Behram Baug Road, Jogeshwari (West), Mumbai - 400
102, Maharashtra |
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Date of Birth/Age : |
31.07.1947 |
|
Date of Appointment : |
21.04.2003 |
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DIN No.: |
02036527 |
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Name : |
Mr. Rahil S.Nandolia |
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Designation : |
Director |
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Address : |
Unit No.19, Aarey Milk Colony, Goregaon (East), Mumbai - 400 065,
Maharashtra, India |
|
Date of Birth/Age : |
21.06.1979 |
|
Date of Appointment : |
05.09.2001 |
|
DIN No.: |
01060944 |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Nandolia Rashid |
10100 |
|
Nandolia Usman |
8200 |
|
Nandolia Rahil |
3100 |
|
Nandolia Rafik |
9100 |
|
Nandolia Zulekha |
6000 |
|
Nandolia Roshan |
8000 |
|
Nandolia Amtullah |
8200 |
|
Nandolia Amin |
3000 |
|
Nandolia Abid |
3500 |
|
Nandolia Asif |
3000 |
|
Nandolia Imtiyaz |
5000 |
|
Nandolia Mohammed |
3500 |
|
Nandolia Ismail |
3000 |
|
Nandolia Sajeed |
3400 |
|
Nandolia Tarik |
4000 |
|
Salema Zaheeda |
2000 |
|
Sunasara Nazma |
1000 |
|
Nandolia Nadim |
5000 |
|
Nandolia Anjum |
4000 |
|
Nandolia Safira |
3200 |
|
TOTAL |
96300 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Fast Red B Base, Acetic Acid, Fast Scarlet R Base, Based Dyes, Fast Bordeaux GP Base and Fast Bord Base |
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Products : |
Not Divulged |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Information decline by the management |
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Bankers : |
Not Divulged |
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Facilities : |
SECURED
LOAN (Rs.
In Millions)
Note : Short Term
Borrowings Nature of securities for short term borrowings : Secures by hypothecation of all chargeable current assets (Comprising of packing materials, stock in process, finished goods etc
and receivables) of the Company and personal guarantees of directors and collateral
security on factory land and building and construction theron and plant and
machinery. |
|
Banking
Relations : |
--- |
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Auditors : |
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|
Name : |
Satish Nagre Chartered Accountant |
|
Address : |
1, Gurukripa, Nadiadwala Colony No.2, Off. S.V. Road, Malad (West),
Mumbai- 400064, Maharashtra, India |
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PAN No.: |
AAAPN6321M |
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Memberships : |
----- |
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Collaborators : |
----- |
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs. 10.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
96300 |
Equity Shares |
Rs.100/-
each |
Rs. 9.630
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
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|
(1)Shareholders' Funds |
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(a) Share Capital |
9.630 |
9.630 |
9.630 |
|
(b) Reserves & Surplus |
14.658 |
15.278 |
14.859 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
24.288 |
24.908 |
24.489 |
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(3)
Non-Current Liabilities |
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|
(a) long-term borrowings |
0.000 |
11.850 |
8.480 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
11.850 |
8.480 |
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3.476 |
4.971 |
4.830 |
|
(b) Trade
payables |
24.323 |
32.148 |
28.086 |
|
(c) Other
current liabilities |
7.222 |
0.541 |
0.420 |
|
(d) Short-term
provisions |
0.000 |
0.245 |
0.000 |
|
Total Current
Liabilities (4) |
35.021 |
37.905 |
33.336 |
|
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|
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TOTAL |
59.309 |
74.663 |
66.305 |
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II.
ASSETS |
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|
(1)
Non-current assets |
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(a) Fixed
Assets |
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|
|
|
(i)
Tangible assets |
8.866 |
8.529 |
10.618 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.937 |
0.786 |
0.676 |
|
(d) Long-term Loan and Advances |
2.930 |
1.860 |
2.533 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
12.733 |
11.175 |
13.827 |
|
|
|
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
14.750 |
12.119 |
10.190 |
|
(c) Trade
receivables |
19.953 |
35.023 |
37.910 |
|
(d) Cash
and cash equivalents |
7.987 |
13.913 |
3.487 |
|
(e)
Short-term loans and advances |
3.170 |
2.163 |
0.703 |
|
(f) Other
current assets |
0.716 |
0.270 |
0.188 |
|
Total
Current Assets |
46.576 |
63.488 |
52.478 |
|
|
|
|
|
|
TOTAL |
59.309 |
74.663 |
66.305 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
151.522 |
155.854 |
126.273 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
150.432 |
151.715 |
121.096 |
|
|
|
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PROFIT BEFORE TAX,
DEPRECIATION AND AMORTISATION |
1.090 |
4.139 |
5.177 |
|
|
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|
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|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.862 |
2.207 |
2.869 |
|
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|
|
|
|
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|
PROFIT BEFORE
TAX |
(0.772) |
1.932 |
2.308 |
|
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|
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|
Less |
TAX |
(0.151) |
1.512 |
(0.068) |
|
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|
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|
PROFIT
AFTER TAX |
(0.621) |
0.420 |
2.376 |
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
88.039 |
84.845 |
69.780 |
|
|
TOTAL EARNINGS |
88.039 |
84.845 |
69.780 |
|
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|
|
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|
Earnings Per
Share (Rs.) |
(6.44) |
4.36 |
24.77 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.32) |
2.62 |
3.52 |
|
|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.03) |
0.08 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.14 |
0.68 |
0.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.67 |
1.57 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
9.630 |
9.630 |
9.630 |
|
Reserves & Surplus |
14.859 |
15.278 |
14.658 |
|
Net
worth |
24.489 |
24.908 |
24.288 |
|
|
|
|
|
|
long-term borrowings |
8.480 |
11.850 |
0.000 |
|
Short term borrowings |
4.830 |
4.971 |
3.476 |
|
Total
borrowings |
13.310 |
16.821 |
3.476 |
|
Debt/Equity
ratio |
0.544 |
0.675 |
0.143 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
126.273 |
155.854 |
151.522 |
|
|
|
23.426 |
-2.780 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
126.273 |
155.854 |
151.522 |
|
Profit |
2.376 |
0.420 |
-0.621 |
|
|
1.88% |
0.27% |
-0.41% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY OF LONG TERM DEBT
|
Particulars |
As on 31.03.2014 |
As on 31.03.2013 |
As on 31.03.2012 |
|
Current Maturity
of Long Term Debt |
(6.980) |
0.000 |
NA |
|
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 |
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 |
Yes |
|
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 |
No |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWINGS |
|
|
|
Loans an d advances from related parties |
9.980 |
11.850 |
|
Less : Current Maturities |
(6.980) |
0.000 |
|
Total |
0.000 |
11.850 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90220472 |
10/01/2008 * |
36,000,000.00 |
DENA BANK |
BHAT BAZAR BRANCH, PREM BHAVAN, 234/236 NARSHI NATHA STREET, MUMBAI, MAHARASHTRA - 400003, INDIA |
A34493528 |
|
2 |
90223475 |
21/09/2004 * |
950,000.00 |
DENA BANK |
BHAT BAZAR BRANCH, MUMBAI, MAHARASHTRA - 400005, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Land and Building
- Plant and Machinery
- Vehicles
- Furniture and Fixture
- Office Equepment
- Computer
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. 61.87 |
|
|
1 |
Rs. 96.90 |
|
Euro |
1 |
Rs. 76.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.