MIRA
INFORM REPORT
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Report No. : |
315614 |
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Report Date : |
04.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
AASTRID LIFE SCIENCES PRIVATE LIMITED |
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Registered
Office : |
A-514, 1st Floor, Mahape MIDC, TTC Industrial Area, Mahape,
Navi Mumbai – 400701, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
08.03.2010 |
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Com. Reg. No.: |
11-200641 |
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Capital
Investment / Paid-up Capital : |
Rs. 13.638 Million |
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CIN No.: [Company Identification
No.] |
U24100MH2010PTC200641 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Intermediates Fine and Speciality Chemicals. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track. Management of the company has failed to file its financial for the
year 2014 with the government department. As per available financial of 2013, the company has incurred a huge accumulated
loss which has eroded the Net worth of the company. However, Business is active. Payment terms are slow. The company can be considered for business dealings on 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 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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 |
EXTERNAL AGENCY RATING
Not Available
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. Sunil Deshpande |
|
Designation : |
General Manager |
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Contact No.: |
91-22-41122626 |
|
Date : |
02.04.2015 |
LOCATIONS
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Registered Office : |
A-514, 1st Floor, Mahape MIDC, TTC Industrial Area, Mahape,
Navi Mumbai – 400701, Maharashtra, India |
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Tel. No.: |
91-22-41122626 |
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Fax No.: |
91-22-42552526 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 27.09.2014
|
Name : |
Mr. Ravindra Vishnu Jagtap |
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Designation : |
Director |
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Address : |
B – 1006 Patadise, Raheja Vihar, Powai, Mumbai – 400072, Maharashtra,
India |
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Date of Appointment : |
08.03.2010 |
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DIN No. : |
00590733 |
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Other Directorship :
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Name : |
Mrs. Anupama Ravindra Jagtap |
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Designation : |
Director |
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Address : |
B – 1006 Patadise, Raheja Vihar, Powai, Mumbai – 400072, Maharashtra,
India |
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Date of Appointment : |
08.03.2010 |
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DIN No. : |
00743586 |
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Other Directorship :
|
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KEY EXECUTIVES
|
Name : |
Mr. Sunil Deshpande |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ravindra V Jagtap |
|
2100 |
|
Anupama R Jagtap |
|
2100 |
|
Rajendra Nargunde |
|
1400 |
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Total |
|
5600 |
Preference Shareholders Detail are Not Available
As on 27.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
75.00 |
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Others |
25.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Intermediates Fine and Speciality Chemicals. |
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Products : |
Intermediates Fine and Speciality Chemicals |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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 |
PRODUCTION STATUS: Not Available
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Gokhale and Sathe Chartered Accountant Chartered Accountants |
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Address : |
Unit No. 308/309, Udyog Mandir No. 1, 7-C, Bhagoji Keer Marg, Mahim,
Mumbai – 400016, Maharashtra, India |
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PAN No.: |
AAAFG4990K |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Related Parties : |
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CAPITAL STRUCTURE
As on 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
300000 |
Equity Shares |
Rs.100/- each |
Rs. 30.000 Million |
|
300000 |
Preference Shares |
Rs.100/- each |
Rs. 30.000 Million |
|
|
Total |
|
Rs. 60.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
5600 |
Equity Shares |
Rs.100/- each |
Rs. 0.560 Million |
|
130780 |
Preference Shares |
Rs.100/- each |
Rs. 13.078 Million |
|
136380 |
Total |
|
Rs. 13.638
Million |
After 27.09.2013
Authorised Capital : Rs. 100.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 13.638
Million
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
13.638 |
0.560 |
0.560 |
|
(b) Reserves &
Surplus |
(29.741) |
(16.437) |
(5.177) |
|
(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 |
|
Total Shareholders’ Funds
(1) + (2) |
(16.103) |
(15.877) |
(4.617) |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
33.177 |
7.220 |
8.717 |
|
(b) Deferred tax
liabilities (Net) |
2.115 |
0.745 |
0.234 |
|
(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) |
35.292 |
7.965 |
8.951 |
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(4) Current Liabilities |
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|
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|
(a) Short term borrowings |
34.302 |
18.282 |
17.190 |
|
(b) Trade payables |
33.098 |
1.520 |
2.510 |
|
(c) Other current
liabilities |
42.739 |
36.235 |
22.013 |
|
(d) Short-term provisions |
1.565 |
0.089 |
0.207 |
|
Total Current Liabilities
(4) |
111.704 |
56.126 |
41.920 |
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TOTAL |
130.893 |
48.214 |
46.254 |
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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 |
65.868 |
16.926 |
14.774 |
|
(ii) Intangible Assets |
7.784 |
7.538 |
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 |
0.038 |
0.038 |
0.038 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.046 |
12.563 |
1.173 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
75.736 |
37.065 |
15.985 |
|
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(2) Current assets |
|
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|
(a) Current investments |
1.610 |
0.500 |
0.500 |
|
(b) Inventories |
20.919 |
0.292 |
23.818 |
|
(c) Trade receivables |
19.378 |
3.948 |
0.462 |
|
(d) Cash and cash
equivalents |
0.769 |
0.342 |
0.523 |
|
(e) Short-term loans and
advances |
12.481 |
6.067 |
4.772 |
|
(f) Other current assets |
0.000 |
0.000 |
0.194 |
|
Total Current Assets |
55.157 |
11.149 |
30.269 |
|
|
|
|
|
|
TOTAL |
130.893 |
48.214 |
46.254 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
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|
TOTAL INCOME |
50.671 |
NA |
NA |
|
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|
|
|
Less |
TOTAL EXPENSES |
69.145 |
NA |
NA |
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|
PROFIT/ (LOSS) BEFORE TAX |
(18.474) |
NA |
NA |
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|
Less |
TAX |
(17.105) |
NA |
NA |
|
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|
PROFIT/ (LOSS) AFTER TAX
|
(1.369) |
(11.259) |
(5.177) |
|
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|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(10.04) |
(82.56) |
(37.96) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(14.12) |
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.15 |
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(4.19) |
(1.61) |
(5.61) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.49 |
0.20 |
0.72 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
0.560 |
0.560 |
13.638 |
|
Reserves & Surplus |
(5.177) |
(16.437) |
(29.741) |
|
Net worth |
(4.617) |
(15.877) |
(16.103) |
|
|
|
|
|
|
long-term borrowings |
8.717 |
7.220 |
33.177 |
|
Short term borrowings |
17.190 |
18.282 |
34.302 |
|
Total borrowings |
25.907 |
25.502 |
67.479 |
|
Debt/Equity ratio |
(5.611) |
(1.606) |
(4.190) |
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 |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
one year |
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 |
Yes |
|
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 |
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 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10547295 |
13/01/2015 |
7,500,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA |
C42331017 |
|
2 |
10550193 |
13/01/2015 |
14,000,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA |
C44027134 |
|
3 |
10535213 |
05/12/2014 |
482,000.00 |
THE SARASWAT CO-OP BANK LTD |
RASEC BORIVLI WEST BRANCH,EMPEROR BUILDING,1ST FL, LT ROAD, BABHAI NAKA, BORIVLI WEST, MUMBAI, MAHARASHTRA - 400092, INDIA |
C36144558 |
|
4 |
10503657 |
05/06/2014 |
7,500,000.00 |
THE SARASWAT CO-OP BANK LTD |
SME VILE PARLE BRANCH,
BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA |
C06994016 |
|
5 |
10483415 |
28/02/2014 |
9,200,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI, MAHARASHTRA - 400057, INDIA |
B98830516 |
|
6 |
10416701 |
22/03/2013 |
6,000,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOC, S UBHASH ROAD, VILE PARLE EAST, MUMBAI, MAHARASHTRA - 400057, INDIA |
B72275746 |
|
7 |
10380708 |
24/08/2014 * |
35,500,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, S |
C28760445 |
|
8 |
10263958 |
15/01/2011 |
1,600,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI, MAHARASHTRA - 400057, INDIA |
B04030045 |
|
9 |
10250276 |
18/10/2010 |
10,000,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA |
A98168156 |
|
10 |
10242951 |
21/05/2014 * |
34,000,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA |
C04885489 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Million) |
31.03.2012 (Rs.
in Million) |
|
LONG TERM
BORROWINGS |
|
|
|
|
|
|
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Anupama Jagtap Shareholders |
2.500 |
2.300 |
|
Ravindra V Jagtap |
4.650 |
0.000 |
|
Rajendra Nargunde |
0.000 |
5.116 |
|
Total |
7.150 |
7.416 |
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. 62.59 |
|
|
1 |
Rs. 92.46 |
|
Euro |
1 |
Rs. 67.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
11 |
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.