MIRA
INFORM REPORT
|
Report No. : |
353829 |
|
Report Date : |
10.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
PUJA CHEMICAL PRIVATE LIMITED |
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Registered
Office : |
432, |
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Tel. No.: |
91-261-2463031 |
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Country : |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
13.09.2007 |
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Com. Reg. No.: |
21-118592 |
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Capital
Investment / Paid-up Capital : |
Rs. 14.950 Million |
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CIN No.: [Company Identification
No.] |
U24233WB2007PTC118592 |
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IEC No.: |
Not Applicable (Note:- As claimed by company management chat company
does not export and import) |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAECP3895P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading of water treatment battery and acid chemical. (Confirmed
by management) |
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|
|
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No. of Employees
: |
Not Divulged |
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the 2007 it is stablished company having
moderate track record. As per 2015 financial record, the company has not earned any income
from its operations. However, the company has recorded other income of Rs. 0.180 million as
compared to its previous year record of Rs. 0.160 million. Further, it has
earned profit of Rs. 0.084 Million as compared to the previous year of Rs.
0.033 million. Moreover, the company has healthy networth of Rs. 296.900
million during the year under a review. Further, as per our investigation, the company’s business operations
are unavailable from any appropriate source and management has also denied
providing information of the subject company. As per status in the Registrar of Companies, business is active.
Payment terms are reported to be unknown. In view of aforesaid, the company can be considered for business
dealings on safe and secured 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Paras Vola |
|
Designation : |
Chartered Accountant |
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Contact No.: |
91-9879594927 |
|
Date : |
09.12.2015 |
LOCATIONS
|
Registered Office : |
432, G. T. Road (N), Howrah – 711101, West Bengal, India |
|
Tel. No.: |
91-261-2463031 |
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Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mrs. Nilisha Pragnesh Jariwala |
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Designation : |
Director |
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Address : |
G-2, Somnath Mahadev Society, Old Umra Jakatnaka, Surat-395007, Gujarat, India |
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Date of Birth/Age : |
16.10.1975 |
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Date of Appointment : |
07.04.2010 |
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DIN No.: |
00274773 |
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Name : |
Mrs. Sheelaben Ishverlal Jariwala |
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Designation : |
Director |
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|
Address : |
G-2, Somnath Mahadev Society, Old Umra Jakatnaka, Surat-395007, Gujarat, India |
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Date of Birth/Age : |
11.07.1946 |
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Date of Appointment : |
07.04.2010 |
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DIN No.: |
00934492 |
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Name : |
Mr. Maheshchandra Ganpatram Bhatt |
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Designation : |
Director |
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Address : |
Gandevi, Valsad-396360, Gujarat, India |
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Date of Appointment : |
21.11.2012 |
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DIN No.: |
06434257 |
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KEY EXECUTIVES
|
Name : |
Mr. Paras Vola |
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Designation : |
Chartered Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.03.2015
|
Names of Shareholders |
|
No. of Shares |
|
Nilisha Jariwala |
|
657940 |
|
Sheelaben Ishverlal Jariwala |
|
664110 |
|
Simplex Vinimay India Private Limited, India |
|
172950 |
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Total |
|
1495000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
11.57 |
|
Directors or relatives of Directors |
88.43 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading of water treatment battery and acid chemical. (Confirmed
by management) |
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Products : |
-- |
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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 : |
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 : |
Not Divulged |
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Bankers : |
· Bank of Baroda, Bhagatalav Branch, Kanpith, Surat - 395001, Gujarat, India
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Auditors : |
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|
Name : |
D J Jariwala and Company Chartered Accountants |
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Address : |
C-502, Divine Residency, Near Nilkanth Residency, Canal Road, Pal, Surat-395009, Gujarat, India |
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Mobile No.: |
91-9426772165 |
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E-Mail : |
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Pan: |
AGPPJ0983L |
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Memberships : |
*-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on: 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1573000 |
Equity Shares |
Rs.10/- each |
Rs. 15.730 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
1495000 |
Equity Shares |
Rs.10/- each |
Rs. 14.950 Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
14.950 |
14.950 |
14.950 |
|
(b) Reserves & Surplus |
282.043 |
281.959 |
281.927 |
|
(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) |
296.993 |
296.909 |
296.877 |
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(3)
Non-Current Liabilities |
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|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(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 |
0.000 |
0.000 |
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(4) Current Liabilities |
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|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
0.000 |
0.000 |
0.000 |
|
(c) Other current
liabilities |
0.053 |
0.023 |
0.027 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
0.053 |
0.023 |
0.027 |
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TOTAL |
297.046 |
296.932 |
296.904 |
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II.
ASSETS |
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|
(1) Non-current assets |
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.000 |
0.000 |
0.000 |
|
(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 |
294.862 |
294.862 |
294.862 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
294.862 |
294.862 |
294.862 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
1.959 |
2.008 |
2.002 |
|
(e) Short-term loans and
advances |
0.225 |
0.062 |
0.004 |
|
(f) Other current assets |
0.000 |
0.000 |
0.036 |
|
Total Current Assets |
2.184 |
2.070 |
2.042 |
|
|
|
|
|
|
TOTAL |
297.046 |
296.932 |
296.904 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
0.180 |
0.160 |
0.069 |
|
|
|
TOTAL (A) |
0.180 |
0.160 |
0.069 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Other expenses |
0.058 |
0.111 |
0.059 |
|
|
|
TOTAL (B) |
0.058 |
0.111 |
0.059 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.122 |
0.049 |
0.010 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.002 |
0.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
0.122 |
0.047 |
0.009 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
0.122 |
0.047 |
0.009 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.038 |
0.014 |
0.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
0.084 |
0.033 |
0.008 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.06 |
0.02 |
0.01 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net Cash flows from operating activities |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.59 |
2.27 |
0.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
41.21 |
90.00 |
75.63 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
14.950 |
14.950 |
14.950 |
|
Reserves & Surplus |
281.927 |
281.959 |
282.043 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
296.877 |
296.909 |
296.993 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total income |
0.069 |
0.160 |
0.180 |
|
|
|
131.884 |
12.500 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total income |
0.069 |
0.160 |
0.180 |
|
Profit |
0.008 |
0.033 |
0.084 |
|
|
11.59% |
20.63% |
46.67% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners / Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS
The Company has reported revenue of Rs. 0.180 million which consist of interest income for the current year as compared to Rs. 0.160 Million in the previous year. The Net Profit for the year amounted to Rs. 0.084 million in the current year as compared to Rs. 0.033 million in the previous year.
CHANGE OF ADDRESS:
Registered Office of the company has been shifted from “2B, Grant Lane 1 St Floor, Room No-18 A, Kolkata – 700012, West Bengal, India” to the present address w.e.f. 21.01.2012.
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10350991 |
18/04/2012 |
2,420,500,000.00 |
BANK OF BARODA |
BHAGATALAV BRANCH, KANPITH - 395001, SURAT, Gujarat, INDIA |
B37933553 |
* Date
of charge modification
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.66.75 |
|
|
1 |
Rs.100.29 |
|
Euro |
1 |
Rs.72.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KSP |
|
|
|
|
Report Prepared
by : |
MTN |
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 |
|
--PROFITABILITY |
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 |
YES |
|
--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.