|
Report Date : |
10.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
RELIABLE DIESEL ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D-22 A, Vishwakarma Colony, Pulpahlad Pur, Lal Quan, MB
Road, New Delhi – 110044 |
|
|
|
|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
03.04.1996 |
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|
|
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Com. Reg. No.: |
55-077800 |
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|
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Capital Investment
/ Paid-up Capital : |
Rs.4.312 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909DL1996PTC077800 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacturer of Acoustic Enclosures. |
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|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 140000 |
|
|
|
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is en established company having moderate track record. The management has seen a drastic dip in its net profitability during
2013 which has harshly impacted the profit margins of the company. However, trade relations are fair. Business is active. Payment terms
are reported as 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.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says the
latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue before
the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c
(Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been
launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
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. N. Rawat |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-129-4136193 |
|
Date : |
09.01.2013 |
LOCATIONS
|
Registered Office : |
D-22 A, Vishwakarma Colony, Pulpahlad Pur, Lal Quan, MB
Road, New Delhi – 110044, India |
|
Tel. No.: |
91-129-4136193 |
|
Fax No.: |
Not available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No. 12 - C, Gurukul Industrial Estate, Sarai Khwaja,
Faridabad - 121 003, Haryana, India |
|
Tel. No.: |
91-129-4186100 |
|
|
|
|
Factory 2 / Sales and Marketing Office: |
Plot No 2, 12/6, Anangpur Road, Gurukul Industrial Estate Sarai
Khwaja, Faridabad – 121003, Haryana, India |
|
Tel. No.: |
91-129-4136509/12 |
|
Fax No.: |
91-129-4136509/12 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Hukum Singh Negi |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
751, Sector – 21 A, Faridabad - 121012, Haryana, India |
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|
Date of Birth/Age : |
04.08.1958 |
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Date of Appointment : |
03.04.1996 |
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DIN No.: |
00376422 |
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Other Directorship:
|
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ajit Kumar Varma |
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|
Designation : |
Director |
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|
Address : |
Flat No. 205, Progressive Peoples CGHS, Sector 21 C,
Faridabad - 121012, Haryana, India |
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|
Date of Birth/Age : |
08.11.1959 |
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Date of Appointment : |
03.04.1996 |
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DIN No.: |
00687140 |
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|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. N. Rawat |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Hukum Singh Negi |
|
210896 |
|
Ajit Kumar Varma |
|
209646 |
|
Shri Ram |
|
600 |
|
Davinder Pal Singh |
|
50 |
|
G D Sharma |
|
850 |
|
Reema Negi |
|
250 |
|
Chander Bhushan Rai |
|
900 |
|
Renuka Singh |
|
2500 |
|
Harbir Singh |
|
4000 |
|
Anjali Varma |
|
1500 |
|
Total |
|
431192 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Acoustic Enclosures. |
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|
|
|
Imports : |
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|
Products : |
Raw Material |
|
Countries : |
Japan |
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|
|
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Terms : |
|
|
Selling : |
Cash, Credit (30 Days and 60 Days) and Advance |
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|
|
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Sawant Trading |
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Customers : |
·
Escorts Limited ·
Tractors India Private Limited |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
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No. of Employees : |
150 (Approximately) |
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|
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|
Bankers : |
·
IDBI
Bank Limited, IDBI Tower Wtc Complex, Cuffe Parade, Mumbai - 400005,
Maharashtra, India ·
Industrial Development Bank of India Limited, IDBI
Tower Wtc Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India ·
IDBI Bank Limited, Videocon Tower Branch, New
Delhi, India Tel No.: 91-11-66083082 · The United Western Bank Limited, Pushp Vihar, New Delhi, Delhi, India |
|||||||||||||||||||||||||||
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|
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Facilities : |
CC = Rs.0.350 Million (IDBI Bank Limited, Videocon Tower Branch)
Long Term
Borrowings Secured Term Loans from Banks (i) Term Loan of Rs.0.650 Million from HDFC Bank against purchase of
Car repayable in 36 Instalments. The loan is Secured against (a)
Hypothecation of Car and (b)
Personal Guarantees of the Directors. Present
Outstanding as on 31st March,2013 is Rs.0.374 Million (Previous Year –
Rs.0.574 Millions) (ii) Term Loan of Rs.0.730 Million from HDFC Bank against purchase of
Car repayable in 48 Instalments. The loan is Secured against a) Hypothecation of Car and b) Personal Guarantees of the Directors. Present Outstanding as on 31st March,2013 is Rs.0.612 Million (Previous Year - Rs NIL ) (iii) Term Loan of Rs.0.250 Million from HDFC Bank against purchase of
Car repayable in 36 Instalments. The loan is Secured against (a)
Hypothecation of Car and (b)
Personal Guarantees of the Directors. Present
Outstanding as on 31st March,2013 is Rs.0.102 Million (Previous Year –
Rs.0.184 Million) (iv) Term Loan of Rs.0.700 Million from ICICI Bank against purchase of
Car repayable in 36 Instalments. The loan is Secured against (a)
Hypothecation of Car and (b)
Personal Guarantees of the Directors. Present
Outstanding as on 31st March,2013 is Rs.0.343 Million (Previous Year –
Rs.0.566 Millions) Secured Term Loans from Others Term Loan of Rs.0.440 Million from Sundaram Finance Limited against
purchase of Car repayable in 36 Instalments. The loan is Secured against (a) Hypothecation of Car and (b) Personal Guarantees of the Directors.
Present Outstanding as on 31st March,2013 is Rs.0.325 Million (Previous Year
- Rs NIL) |
|
|
|
|
Banking
Relations : |
Satisfactory |
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Auditors : |
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|
Name : |
Singh Sani and Company Chartered Accountants |
|
Address : |
A-114, First Floor, Fateh Nagar, Jail Road, New Delhi – 110018, India |
|
PAN No.: |
AAAS8999L |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs.5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
431192 |
Equity Shares |
Rs. 10/- each |
Rs.4.312 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4.312 |
4.312 |
3.772 |
|
(b) Reserves & Surplus |
29.618 |
29.601 |
23.752 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
33.930 |
33.913 |
27.524 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
4.723 |
4.490 |
5.482 |
|
(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) |
4.723 |
4.490 |
5.482 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
57.426 |
50.545 |
43.164 |
|
(b) Trade payables |
32.023 |
35.562 |
24.423 |
|
(c) Other current
liabilities |
4.840 |
6.811 |
10.617 |
|
(d) Short-term provisions |
0.000 |
0.397 |
0.348 |
|
Total Current Liabilities (4) |
94.289 |
93.315 |
78.552 |
|
|
|
|
|
|
TOTAL |
132.942 |
131.718 |
111.558 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
31.602 |
31.800 |
33.120 |
|
(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 |
0.055 |
0.055 |
0.055 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.112 |
0.779 |
1.138 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
32.769 |
32.634 |
34.313 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
52.920 |
57.699 |
33.862 |
|
(c) Trade receivables |
36.923 |
25.337 |
36.518 |
|
(d) Cash and cash
equivalents |
6.897 |
13.198 |
5.062 |
|
(e) Short-term loans and
advances |
2.265 |
2.807 |
1.793 |
|
(f) Other current assets |
1.168 |
0.043 |
0.010 |
|
Total Current Assets |
100.173 |
99.084 |
77.245 |
|
|
|
|
|
|
TOTAL |
132.942 |
131.718 |
111.558 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
186.533 |
210.884 |
237.755 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.611 |
6.148 |
7.170 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
4.471 |
4.639 |
4.835 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE
TAX |
0.140 |
1.509 |
2.335 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.123 |
0.520 |
0.785 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
0.017 |
0.989 |
1.550 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
17.715 |
16.726 |
15.176 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
17.732 |
17.715 |
16.726 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.04 |
NA |
NA |
|
Expected Sales (2013-2014): Rs.260.000 Millions.
The above information has been parted by Mr. N. Rawat (Account Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
0.08 |
0.72 |
0.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.11 |
1.15 |
2.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.04 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.83 |
1.62 |
1.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
1.06 |
0.98 |
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 |
No |
|
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
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
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 |
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 LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Rupee Term Loans from Others |
3.848 |
3.671 |
|
Total |
3.848 |
3.671 |
Notes:
Unsecured Term Loans from Others
(i) From Bajaj Finance Limited of Rs.2.500 Millions repayable in 36 Instalments of Rs.0.106 Million each. The loan is against postdated cheques of the loan amount. Present Outstanding as on 31st March,2013 is Rs.0.973 Million (Previous Year – Rs.1.953 Millions )
(ii) Interest Free Loans from Directors and Shareholders Rs.3.848 Millions (Previous Year – Rs.2.698 Millions)
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10365457 |
14/06/2012 |
70,500,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE
PARADE, MUMBAI, Maharashtra - 400005, INDIA |
B43621705 |
|
2 |
10179300 |
25/11/2008 |
21,300,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE
PARADE, MUMBAI, Maharashtra - 400005, INDIA |
A60723426 |
|
3 |
10083147 |
26/11/2007 |
23,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF
INDIA LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE,
MUMBAI, Maharashtra - 400005, INDIA |
A30448195 |
|
4 |
10048938 |
26/11/2007 * |
2,500,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF
INDIA LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE
PARADE, MUMBAI, Maharashtra - 400005, INDIA |
A30447643 |
|
5 |
10048937 |
26/11/2007 * |
4,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF
INDIA LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE
PARADE, MUMBAI, Maharashtra - 400005, INDIA |
A30446975 |
|
6 |
10049184 |
12/03/2007 |
6,500,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF
INDIA LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE
PARADE, MUMBAI, Maharashtra - 400005, INDIA |
A14663801 |
|
7 |
90050110 |
13/10/2003 |
2,000,000.00 |
THE UNITED WESTERN BANK
LIMITED |
PUSHP VIHAR, NEW DELHI, Delhi,
INDIA |
- |
|
8 |
90048526 |
09/06/2001 |
2,300,000.00 |
THE UNITED WESTERN BANK
LIMITED |
PUSHP VIHAR, NEW DELHI, Delhi
- 110062, INDIA |
- |
|
9 |
90047863 |
29/03/2000 |
1,990,000.00 |
THE UNITED WESTERN BANK
LIMITED |
PUSHP VIHAR, NEW DELHI, Delhi -
110062, INDIA |
- |
|
10 |
90047856 |
27/03/2000 |
9,800,000.00 |
THE UNITED WESTERN BANK
LIMITED |
PUSHP VIHAR, NEW DELHI, Delhi
- 110062, INDIA |
- |
|
11 |
90047684 |
18/11/1999 |
500,000.00 |
THE UNITED WESTERN BANK
LIMITED |
PUSHP VIHAR, NEW DELHI, Delhi
- 110062, INDIA |
- |
*Date of modification Charges
TRADE REFERENCES:
·
Escorts Limited
·
Tractors India Private Limited
·
Sawant Trading
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Furniture and Fixture
·
Office Equipment
·
Vehicles
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.62.18 |
|
|
1 |
Rs.102.31 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
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.