MIRA
INFORM REPORT
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Report No. : |
306417 |
|
Report Date : |
16.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
NYKA STEEL PRIVATE LIMITED |
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Registered Office : |
Plot No. C-17-6, MIDC Industrial Area, Taloja District, Raigad – 410
206, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
27.07.1995 |
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Com. Reg. No.: |
11-91072 |
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Capital
Investment / Paid-up Capital : |
Rs. 10.000 millions |
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CIN No.: [Company
Identification No.] |
U27109MH1995PTC091072 |
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IEC No.: |
Not Available |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEN04417A / MUMN11631E |
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PAN No.: [Permanent
Account No.] |
AACFN7647L |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Manufacturer and Exporter of GT Pipe, Black Pipe, Metal and Alloys. |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 500000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject Is an established Private limited liability company having
moderate track record. As per available information the company has failed to file its
financials for the year 2013-14 with government department. However as per available financials f 2012-13 the company has seen a
considerable drop in its profitability. Trade relations seem to be fair. Business is active. Payments are
reported t be unknown. The company can be considered for business dealings with 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Me. S. K. Joshi |
|
Designation : |
Chief Operating Officer |
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Contact No.: |
91-9833530003 |
|
Date : |
07.02.2015 |
LOCATIONS
|
Registered Office / Factory 1 : |
Plot No. C-17-6, MIDC Industrial Area, Taloja District, Raigad – 410
206, |
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Tel. No.: |
91-22-61483000 |
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Fax No.: |
91-22-61483099 |
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Email : |
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Websites: |
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Area : |
3000 Sq. Ft. |
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Location : |
Owned |
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Factory 2: |
Ginrab, Ground Floor, |
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Tel. No.: |
91-22-23723173/3743038/74 |
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Fax No.: |
91-22-23713457 |
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|
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Corporate Office 1 : |
13/14/15, |
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Tel. No.: |
91-22-61483000 / 23780358
/ 372 3173 |
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Fax No.: |
91-22-23713457 |
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E-Mail : |
nykasteel@rediffmail.com |
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Website : |
www.nyka.com |
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Area : |
3000 sq.fts |
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Location : |
Owned |
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Corporate Office 2 : |
27, Vypar Bhavan, |
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Tel. No.: |
91-22-23484435 |
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Branches : |
Taloja District, Raigad-410 206, |
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Location: |
Owned |
DIRECTORS
|
Name : |
Mr. Suhail A.
Siddqui |
|
Designation : |
Director |
|
Address : |
86 – 90, Dilkush
Mahal, Block No. 2, Shaheeda Marg, Dongri Street, Mumbai – 400009,
Maharashtra, India |
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Date of Birth
: |
03.04.1960 |
|
Date of
Appointment : |
03.12.1998 |
|
|
|
|
Name : |
Mr. Asif A.
Siddqui |
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Designation : |
Director |
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Address : |
86 – 90, Dilkush
Mahal, Block No. 2, Shaheeda Marg, Dongri Street, Mumbai – 400009,
Maharashtra, India |
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Date of Birth
: |
22.11.1969 |
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Date of
Appointment : |
03.12.1998 |
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Name : |
Mr. Sarfraz A.
Siddqui |
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Designation : |
Director |
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Address : |
86 – 90, Dilkush
Mahal, Block No. 2, Shaheeda Marg, Dongri Street, Mumbai – 400009,
Maharashtra, India |
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Date of Birth
: |
12.09.1965 |
|
Date of
Appointment : |
03.12.1998 |
KEY EXECUTIVES
|
Name : |
Me. S. K. Joshi |
|
Designation : |
Chief Operating Officer |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Asif Nizamuddin Siddiqui |
26600 |
|
Huzefa Siddiqui |
6700 |
|
Anas S. Siddiqui |
6700 |
|
Suhail Ahmed Nizamuddin Siddiqui |
20000 |
|
Shakeel Ahmed Nizamuddin Siddiqui |
20000 |
|
Sarfaraz Ahmed Nizamuddin Siddiqui |
20000 |
|
Total |
100000 |
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 Black
Pipes, G I Pipes, Metals and alloys and Sheet Metals |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
Middle
East ·
Dubai
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Imports : |
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Countries : |
·
China ·
Japan ·
Middle ·
East ·
Russia
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesaler and Retails
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No. of Employees : |
150 (Approximately) |
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Bankers : |
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Facilities : |
SECURED
LOAN (Rs.
In Millions)
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Auditors : |
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Name : |
Entesham and Company Chartered Accountants |
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Address : |
127,Resource, Plaza,Clare Road, Byculla, Mumbai -400008, Maharashtra, India |
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PAN No.: |
AABPM3256B |
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Memberships : |
Not available |
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Collaborators : |
Not available |
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs. 100/- Each |
Rs. 30.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs. 100/- Each |
Rs. 10.000 millions |
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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 |
|
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|
|
(1)Shareholders' Funds |
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|
|
|
(a) Share Capital |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
122.717 |
108.945 |
87.259 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending allotment |
45.000 |
45.000 |
45.000 |
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Total
Shareholders’ Funds (1) + (2) |
177.717 |
163.945 |
142.259 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
3.239 |
1.353 |
1.097 |
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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 |
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Total Non-current Liabilities (3) |
3.239 |
1.353 |
1.097 |
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(4) Current Liabilities |
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(a) Short term borrowings |
234.544 |
356.450 |
210.742 |
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(b) Trade payables |
773.371 |
682.720 |
605.519 |
|
(c) Other current
liabilities |
129.923 |
7.244 |
7.021 |
|
(d) Short-term provisions |
0.783 |
0.000 |
12.123 |
|
Total Current Liabilities (4) |
1138.621 |
1046.414 |
835.405 |
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|
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|
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TOTAL |
1319.577 |
1211.712 |
978.761 |
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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 |
45.223 |
38.287 |
30.465 |
|
(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) |
3.130 |
2.040 |
0.000 |
|
(d) Long-term Loan and Advances |
23.952 |
23.116 |
27.793 |
|
(e) Other Non-current assets |
13.910 |
25.842 |
31.827 |
|
Total Non-Current Assets |
86.215 |
89.285 |
90.085 |
|
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|
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|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
156.631 |
221.245 |
308.345 |
|
(c) Trade receivables |
768.551 |
654.272 |
566.328 |
|
(d) Cash and cash
equivalents |
15.483 |
23.999 |
7.396 |
|
(e) Short-term loans and
advances |
292.697 |
222.911 |
6.607 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
1233.362 |
1122.427 |
888.676 |
|
|
|
|
|
|
TOTAL |
1319.577 |
1211.712 |
978.761 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
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SALES |
|
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TOTAL |
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Less |
EXPENSES |
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TOTAL |
NA |
NA |
NA |
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PROFIT BEFORE
TAX |
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Less |
TAX |
|
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|
PROFIT AFTER TAX
|
13.788 |
20.009 |
19.391 |
|
The above information has been parted by Mr. S. K. Joshi (Chief
Operating Officer).
Note : Sole Proprietary and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.34 |
2.18 |
1.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08 |
1.07 |
1.06 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
87.259 |
108.945 |
122.717 |
|
Share Application money
pending allotment |
45.000 |
45.000 |
45.000 |
|
Net
worth |
142.259 |
163.945 |
177.717 |
|
|
|
|
|
|
long-term borrowings |
1.097 |
1.353 |
3.239 |
|
Short term borrowings |
210.742 |
356.450 |
234.544 |
|
Total
borrowings |
211.839 |
357.803 |
237.783 |
|
Debt/Equity
ratio |
1.489 |
2.182 |
1.338 |
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 |
Yes |
|
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 |
No |
|
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 |
Yes |
|
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 |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM
BORROWING |
|
|
|
Deposits |
1.140 |
0.000 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from directors |
0.000 |
12.043 |
|
Loans repayable on demand |
22.335 |
22.335 |
|
Other Loans and advances |
11.115 |
99.377 |
|
Total |
34.590 |
133.755 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90151123 |
15/07/2013 * |
400,000,000.00 |
UCO BANK |
FLAGSHIP CORPORATE BRANCH,, D N ROAD,, MUMBAI, MA |
B81767584 |
* 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 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.62.13 |
|
|
1 |
Rs.95.78 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
GAY |
|
|
|
|
Analysis Done by
: |
SUC |
|
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|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.