MIRA INFORM REPORT
|
Report No. : |
352017 |
|
Report Date : |
30.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
REGENT HITECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4B/1, Ganga Ram Hospital Marg, New Delhi-110060 |
|
Tel. No.: |
91-11-25744909/25782966 |
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|
|
Country : |
India |
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|
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|
Financials (as
on) : |
31.03.2014 |
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|
|
Date of
Incorporation : |
08.02.1996 |
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|
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Com. Reg. No.: |
55-076180 |
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Capital
Investment / Paid-up Capital : |
Rs. 2.240 Million |
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|
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CIN No.: [Company Identification
No.] |
U29299DL1996PTC076180 |
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|
|
|
IEC No.: |
Not Divulged |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELR11891F |
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|
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PAN No.: [Permanent Account No.] |
AABCR8744E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of all types of industrial valves such as
knife gate valves, butterfly valves, and ball valves. |
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|
|
|
No. of Employees
: |
Approximately 43 [On Permanent Basis : 13, On Contract Basis : 30] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1996 having
moderate track. The rating takes into consideration company’s small net worth base,
limited asset base and low cash and cash equivalent of the company. Their trade relations are reported as fair. Business is active.
Payments terms are reported as slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
|
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
31-03-2015.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Arvind Tripathi |
|
Designation : |
Manager |
|
Contact No.: |
91-120-1954178 |
|
Date : |
26.11.2015 |
LOCATIONS
|
Registered Office : |
4B/1, Ganga Ram Hospital Marg, New Delhi-110060, India |
|
Tel. No.: |
91-11-25744909/25782966 |
|
Mobile No.: |
91-9811033567 (Mr. Arvind) |
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Fax No.: |
91-11-25782967 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Residential |
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|
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Factory : |
A-6, Sector – 59, Noida-201301, Uttar Pradesh, India |
|
Tel. No.: |
91-120-2587078 |
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Fax No.: |
91-120-4266569 |
|
Location : |
Owned |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Vijay Kathuria |
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Designation : |
Director |
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Address : |
4B/1, Ganga Ram Hospital Marg, New Delhi-110060, India |
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Date of Birth/Age : |
03.02.1948 |
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Date of Appointment : |
08.02.1996 |
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DIN No.: |
00968728 |
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Other Directorship:
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Name : |
Mrs. Manuj Kathuria |
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Designation : |
Director |
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Address : |
4B/1, Ganga Ram Hospital Marg, New Delhi-110060, India |
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Date of Birth/Age : |
17.08.1974 |
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Date of Appointment : |
28.02.1996 |
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DIN No.: |
00971535 |
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Other Directorship:
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Name : |
Mr. Sanjay Misra |
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Designation : |
Director |
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Address : |
59/9, Old Rajinder Nagar, New Delhi-110060, India |
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Date of Birth/Age : |
18.01.1964 |
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Date of Appointment : |
08.02.1996 |
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DIN No.: |
00971377 |
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Other Directorship:
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Name : |
Mrs. Rita Misra |
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Designation : |
Director |
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Address : |
59/9, Old Rajinder Nagar, New Delhi-110060, India |
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Date of Birth/Age : |
20.10.1970 |
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Date of Appointment : |
14.04.2000 |
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DIN No.: |
00969438 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Arvind Tripathi |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Vijay Kathuria |
37400 |
16.70 |
|
Sanjay Misra |
42700 |
19.06 |
|
Manuj Kathuria |
85900 |
38.35 |
|
Rita Misra |
58000 |
25.89 |
|
Total |
224000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of all types of industrial valves such as
knife gate valves, butterfly valves, and ball valves. |
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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 : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash, L/C, Credit |
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Purchasing : |
Cash, L/C, Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesaler, Retailer and Manufacturer
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No. of Employees : |
Approximately 43 [On Permanent Basis : 13, On Contract Basis : 30] |
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Bankers : |
Syndicate Bank, Sector-18, Noida, Uttar Pradesh, India |
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Facilities : |
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Auditors : |
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Name : |
Gurpal S. Gujral and Company Chartered Accountants |
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Address : |
6/16, U.G. Floor, East Patel Nagar, New Delhi-110008, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAGPG9025P |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Million |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
224,000 |
Equity Shares |
Rs.10/- each |
Rs. 2.240
Million |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2.240 |
2.240 |
2.240 |
|
(b) Reserves & Surplus |
4.982 |
4.134 |
3.408 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
7.222 |
6.374 |
5.648 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.388 |
1.388 |
1.639 |
|
(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) |
1.388 |
1.388 |
1.639 |
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
12.582 |
9.064 |
8.940 |
|
(c) Other
current liabilities |
1.865 |
1.762 |
0.665 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
14.447 |
10.826 |
9.605 |
|
|
|
|
|
|
TOTAL |
23.057 |
18.588 |
16.892 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
6.069 |
6.465 |
6.289 |
|
(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) |
0.088 |
0.064 |
0.039 |
|
(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 |
6.157 |
6.529 |
6.328 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.521 |
0.471 |
2.450 |
|
(c) Trade receivables |
13.216 |
9.736 |
6.615 |
|
(d) Cash
and cash equivalents |
0.124 |
0.906 |
0.282 |
|
(e)
Short-term loans and advances |
3.039 |
0.946 |
1.217 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
16.900 |
12.059 |
10.564 |
|
|
|
|
|
|
TOTAL |
23.057 |
18.588 |
16.892 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
TOTAL TURNOVER |
57.661 |
42.023 |
44.293 |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1.228 |
1.056 |
1.064 |
|
|
|
|
|
|
|
Less |
TAX |
0.380 |
0.330 |
0.331 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
0.848 |
0.726 |
0.733 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (Rs.) |
3.78 |
3.24 |
3.27 |
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) operation |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Total Turnover) |
(%) |
1.47 |
1.73 |
1.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.35 |
5.70 |
6.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.17 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.93 |
1.64 |
1.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.11 |
1.10 |
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 |
2.240 |
2.240 |
2.240 |
|
Reserves & Surplus |
3.408 |
4.134 |
4.982 |
|
Net
worth |
5.648 |
6.374 |
7.222 |
|
|
|
|
|
|
long-term borrowings |
1.639 |
1.388 |
1.388 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
1.639 |
1.388 |
1.388 |
|
Debt/Equity
ratio |
0.290 |
0.218 |
0.192 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Turnover |
44.293 |
42.023 |
57.661 |
|
|
|
(5.125) |
37.213 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Turnover |
44.293 |
42.023 |
57.661 |
|
Profit |
0.733 |
0.726 |
0.848 |
|
|
1.65% |
1.73% |
1.47% |
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) |
Yes |
|
16] |
No. of employees |
Yes |
|
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 |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
FINANCIAL :
The company is having a total turnover of Rs.57.661 Million (Previous
year Rs.42.023 Million) during the current financial year and the profit before
tax during the year Rs.1.228 Million (Previous Year Rs.1.056 Million) No
dividend is being declared for this year keeping in view of low profits during
the period under audit. We are pleased to inform that future prospects are
bright as the under audit. They are pleased to inform you that future prospects
are bright as the company negotiating for future business with prominent
Departments and Organizations. They hope to achieve better results in the
coming years.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Long term loans from
others |
|
|
|
Vishal Trading Company (Agencies) |
0.891 |
0.891 |
|
Total |
0.891 |
0.891 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90048451 |
19/04/2001 |
3,500,000.00 |
SYNDICATE BANK |
KAROL BAGH, NEW DELHI, Delhi - 110005, INDIA |
- |
|
2 |
90048374 |
29/12/2007 * |
1,100,000.00 |
Syndicate Bank |
Karol Bagh Branch, New Delhi, Delhi - 110005, INDIA |
A36051092 |
* 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.66.29 |
|
|
1 |
Rs.101.88 |
|
Euro |
1 |
Rs.73.98 |
INFORMATION DETAILS
|
Information Gathered
by : |
DPA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.