MIRA INFORM REPORT
|
Report No. : |
331922 |
|
Report Date : |
14.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
PARAMOUNT SYNTEX PRIVATE LIMITED |
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Registered
Office : |
25, Nafees Chamber, 121/123, Modi Street, Fort, Mumbai – 400 001,
Maharashtra |
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Tel. No.: |
91-161-2608031 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
08.03.1996 |
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Com. Reg. No.: |
11-097972 |
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Capital
Investment / Paid-up Capital : |
Rs.3.434 million |
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CIN No.: [Company Identification
No.] |
U17110MH1996PTC097972 |
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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 and Exporter of Textiles Raw Material. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 201200 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company incorporated during the year
1996 having a satisfactory track record. The company is progressing well. General financial position of the
company is normal and acceptable for business dealing. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. In view of long standing record and acceptable financial base, the
company can be considered normal for business dealing at usual 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 – 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 |
|
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
31-03-2013.
LOCATIONS
|
Registered Office : |
25, Nafees Chamber, 121/123, Modi Street, Fort, Mumbai – 400 001,
Maharashtra, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Head Office : |
B-XXX-3804, Street No.6, Hargobindpura, Opposite Transport Nagar,
Ludhiana, Punjab, India |
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Tel. No.: |
91-161-2608031/ 2608032 |
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Fax No.: |
91-161-2608056 |
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E-Mail : |
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Factory : |
Machiwara Road, Village Mangarh, Kohara, Ludhiana, Punjab, India |
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Tel. No.: |
91-161-2848178 |
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Fax No.: |
91-161-2848177 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mrs. Ranjana Ramesh Arora |
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Designation : |
Director |
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Address : |
House No.162-E, Kitchlu Nagar, Ludhiana, Punjab, India |
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Date of Birth/Age : |
25.04.1949 |
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Date of Appointment : |
08.03.1996 |
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DIN No.: |
00794933 |
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Name : |
Mr. Ramesh Gurdialmal Arora |
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Designation : |
Director |
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|
Address : |
House No.162-E, Kitchlu Nagar, Ludhiana, Punjab, India |
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Date of Birth/Age : |
16.06.1953 |
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Date of Appointment : |
08.03.1996 |
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DIN No.: |
00795122 |
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Name : |
Mr. Puneet Ramesh Arora |
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|
Designation : |
Director |
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|
Address : |
House No.162-E, Kitchlu Nagar, Ludhiana, Punjab, India |
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Date of Birth/Age : |
08.05.1979 |
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Date of Appointment : |
08.01.2008 |
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DIN No.: |
01137983 |
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Other Directorship :
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Ranjana Ramesh Arora |
38500 |
11.21 |
|
Ramesh Gurdialmal Arora |
191000 |
55.63 |
|
Puneet Ramesh Arora |
72100 |
21.00 |
|
Kumkum Puneet Arora |
12450 |
3.63 |
|
Kunal Ramesh Arora |
8800 |
2.56 |
|
Ramesh Arora and Sons (HUF), India |
20500 |
5.97 |
|
Total |
343350 |
100.00 |
AS ON 30.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Textiles Raw Material. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
·
State Bank of Patiala, Miller Ganj, Ludhiana –
141 003, Punjab, India ·
Oriental Bank of Commerce, Industrial Finance
Branch; Ground Floor, Lotus House, Mumbai – 400 020, Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Rajesh Mehru and Company Chartered Accountants |
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Address : |
2761/II, Gurdev Nagar, Pakhowal Road, Ludhiana – 141 001, Punjab,
India |
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Tel. No.: |
91-161-4613428/ 4417849/ 4673428 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
ABIPM4915B |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 million |
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
343350 |
Equity Shares |
Rs.10/- each |
Rs.3.434 million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
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I.
EQUITY AND LIABILITIES |
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|
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|
(1) Shareholders'
Funds |
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|
|
|
(a) Share Capital |
3.434 |
2.734 |
2.254 |
|
(b) Reserves & Surplus |
66.985 |
45.486 |
31.468 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
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(2) Share
Application money pending allotment |
0.000 |
14.000 |
9.600 |
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Total Shareholders’ Funds (1) + (2) |
70.419 |
62.220 |
43.322 |
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(3) Non-Current
Liabilities |
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|
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|
(a) Long-term borrowings |
74.013 |
93.391 |
26.650 |
|
(b) Deferred tax liabilities (Net) |
3.012 |
3.082 |
0.984 |
|
(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) |
77.025 |
96.473 |
27.634 |
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(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
40.572 |
5.416 |
|
(b) Trade payables |
21.423 |
27.283 |
31.503 |
|
(c) Other current liabilities |
19.724 |
17.992 |
0.000 |
|
(d) Short-term provisions |
2.108 |
1.294 |
2.087 |
|
Total Current Liabilities (4) |
43.255 |
87.141 |
39.006 |
|
|
|
|
|
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TOTAL |
190.699 |
245.834 |
109.962 |
|
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|
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II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
87.954 |
110.853 |
34.384 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
5.397 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
1.080 |
1.080 |
0.016 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
94.431 |
111.933 |
34.400 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
45.013 |
64.657 |
29.974 |
|
(c) Trade receivables |
17.479 |
28.868 |
18.857 |
|
(d) Cash and cash equivalents |
12.663 |
25.651 |
6.379 |
|
(e) Short-term loans and advances |
11.375 |
8.318 |
11.186 |
|
(f) Other current assets |
9.738 |
6.407 |
9.166 |
|
Total Current Assets |
96.268 |
133.901 |
75.562 |
|
|
|
|
|
|
TOTAL |
190.699 |
245.834 |
109.962 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
NA |
|
|
|
|
Other Income |
|
NA |
|
|
|
|
TOTAL |
540.686 |
NA |
374.767 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
530.428 (Including
Depreciation) |
NA |
362.963 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
NA |
11.804 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
NA |
5.073 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
10.258 |
NA |
6.731 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.059 |
NA |
0.364 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
8.199 |
4.693 |
6.367 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
NA |
27.485 |
21.118 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
27.485 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
23.88 |
17.17 |
28.26 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long-term debt |
NA |
NA |
NA |
|
Cash generated
from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Total Income) |
(%) |
1.52 |
NA |
1.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.54 |
NA |
6.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
NA |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.05 |
2.15 |
0.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.23 |
1.54 |
1.94 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
2.254 |
2.734 |
3.434 |
|
Reserves & Surplus |
31.468 |
45.486 |
66.985 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
9.600 |
14.000 |
0.000 |
|
Net worth |
43.322 |
62.220 |
70.419 |
|
|
|
|
|
|
Long-term borrowings |
26.650 |
93.391 |
74.013 |
|
Short term borrowings |
5.416 |
40.572 |
0.000 |
|
Total borrowings |
32.066 |
133.963 |
74.013 |
|
Debt/Equity ratio |
0.740 |
2.153 |
1.051 |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 two 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 |
INDEX
OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10519570 |
16/08/2014 |
3,000,000.00 |
INDIAN BANK |
LUDHIANA BRANCH,
CHOWK CLOCK TOWER, LUDHIANA, PUNJAB - 141001, INDIA |
C20265757 |
|
2 |
10342701 |
15/06/2013 * |
85,000,000.00 |
INDIAN BANK |
CLOCK TOWER,
LUDHIANA, PUNJAB - 141001, INDIA |
B77950269 |
|
3 |
10342646 |
25/02/2012 |
1,500,000.00 |
INDIAN BANK |
CLOCK TOWER,
LUDHIANA, PUNJAB - 141001, INDIA |
B35204148 |
|
4 |
10342706 |
25/02/2012 |
4,000,000.00 |
INDIAN BANK |
CLOCK TOWER,
LUDHIANA, PUNJAB - 141001, INDIA |
B35232313 |
|
5 |
10342670 |
25/02/2012 |
20,000,000.00 |
INDIAN BANK |
CLOCK TOWER, LUDHIANA,
PUNJAB - 141001, INDIA |
B35212042 |
|
6 |
10342702 |
25/02/2012 |
81,500,000.00 |
INDIAN BANK |
CLOCK TOWER,
LUDHIANA, PUNJAB - 141001, INDIA |
B35230457 |
|
7 |
90158327 |
04/08/2009 * |
49,859,000.00 |
STATE BANK OF
PATIALA |
MILLER GANJ,, LUDHIANA,
PUNJAB - 141003, INDIA |
A67493296 |
* 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, India Prisons Service,
Interpol, etc.
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.63.46 |
|
UK Pound |
1 |
Rs.98.47 |
|
Euro |
1 |
Rs.70.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
45 |
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.