MIRA INFORM REPORT
|
Report Date : |
26TH June, 2006 |
IDENTIFICATION DETAILS
|
Name : |
TANAY
CORPORATION |
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|
|
|
Registered Office : |
G-1,
F Wing, Anand Sagar, Near Vora
Colony, M.G.Road, Kandivali (west), Mumbai, India |
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Country : |
India
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
2003 |
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Legal Form : |
Partnership
concern with an unlimited liability of the partners |
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Line of Business : |
Indenting
agents for petrochemicals, chemicals and polymers |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable
& favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
- |
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Status : |
Small Concern |
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Payment Behaviour : |
No experience |
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Litigation : |
Clear |
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Comments : |
Subject
is a small indenting agents and undertakes order booking for various
products. Trade relations are fair. No payments are available due to nature
of its activity. The
concern can be considered normal for business dealings at usual trade terms
and conditions with slight caution. |
LOCATIONS
|
Registered Office : |
G-1,
F Wing, Anand Sagar, Near Vora Colony, M.G.Road, Kandivali (west), Mumbai,
India |
|
Tel. No.: |
91-22-28633504/2863722630909957 |
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Mobile No.: |
91-9820403400 |
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Fax No.: |
91-22-28625991 |
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E-Mail.: |
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Website : |
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Area : |
200
Sq.ft |
|
Location : |
Rented |
PARTNERS
|
Name : |
Sandeep
Sanghvi |
|
Designation : |
Partner |
|
Age : |
33
Years |
|
Qualification : |
Post
Graduate |
|
Experience : |
8
Years |
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|
|
|
Name : |
Mahesh
Gandhi |
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Designation : |
Partner |
|
Age: |
33
Years |
|
Qualification : |
Post
Graduate |
|
Experience : |
8
Years |
BUSINESS DETAILS
|
Line of Business : |
Indenting
agents for petrochemicals, chemicals and polymers |
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|
|
|
Terms : |
|
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Selling : |
Contract |
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|
|
|
Purchasing : |
Contract |
GENERAL INFORMATION
|
Customers : |
End
Users |
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No. of Employees : |
4 |
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|
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Bankers : |
Union
Bank of India, Dahanukar Wadi, Mumbai 400067 |
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Facilities : |
The
concern do not enjoy facility from its bankers. |
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Banking Relations : |
-- |
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CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.
0.1 millions |
|
Borrowed : |
- |
|
Total : |
Rs.
0.1 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
|
Particulars |
|
31.03.2006 |
31.03.2005 |
|
Order Booking |
|
50.000 |
10.200 |
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES -
- Indian Oil Corporation
Limited (Lubricant Department)
- Hindustan Petroleum
Corporation Limited (Lubricant Department)
As
per Website Details:
Company Profile
Tanay
Corporation is India's leading Indenting House,
with focus in the field of Petrochemicals, Chemicals, Polymers and Commodities.
Tanay Corporaiton has a strong and reliable supplier base for Petrochemicals,
Chemicals and Polymer products from the Far East, China, Middle East, Europe
and America.
They are a preferred buying agent for their overseas customers for their
various products from India. Tanay Corporation also represents Indian companies
for export of their products in International market.
Tanay Corporation
is managed by dynamic young professionals with zeal and commitment to customer
satisfaction and a pragmatic approach to marketing. The management has rich
experience in Chemicals, Petrochemical & Polymer Indenting / Trading
business.
Tanay Corporation shares excellent
relationship with major Manufacturers / End users and Trading Companies in the
field of :-
· Bulk Drugs
· Dyes Intermediates
· Food Processing
· Industrial Chemicals
· Pharmaceuticals
· Plastics
· Pulp & Paper
· Rubber
· Textiles
High quality, dependability and proactive
concern for the services provided to their Customers & Suppliers has given Tanay
Corporation a commanding position in the market as a radiant and a
dynamic organisation.
Our Products (Imports)
Chemicals
v
Acetone
v
Acrylamide
v
Alpha Napthol
v
Ammonium Chloride
v
Aniline in Iso Tank / drums
v
Beta Naphthol
v
Boric Acid Powder / Granular
v
Borax Penta Hydrate / Deca Hydrate
v
Bisphenol A
v
Bromine Liquid
v
Caustic Soda Flakes / Prills / Pearls /
Lye
v
Camphor
v
Chloroform
v
Cyclohexanone in drums
v
Cyanuric Chloride
v
Citric Acid Monohydrate / Anhydrous
v
Dimethylformamide (DMF)
v
Dimethylamine
v
Diethanolamine 98%
v
Dimethyl Acetamide (DMAC)
v
Di Cynadiamide (DCDA)
v
DiMethyl Carbonate (DMC)
v
DiMethyl Sulfoxide (DMSO)
v
Epichlorohydrin
v
Furfuryl Alcohol
v
Formic Acid 85% / 98%
v
Glycerine USP / BP
v
Gum Rosin
v
Hydrogen Peroxide 35%/50%/60%
v
Hydrobromic Acid
v
H Acid
v
Hydrazine Hydrate 80%
v
J Acid
v
J Acid Urea
v
Maleic Anhydride
v
Methyl Formate
v
Methyl Ethyl Ketone
v
Methyl Iso Butyl Ketone
v
Monomethylamine
v
Mono Sodium Glutamate
v
Methylene Di Chloride (MDC)
v
Meta-Phenylene Diamine
v
Melamine
v
Nitro Benzene in ISO tank / Drums
v
Oxalic Acid
v
Perchloroethylene
v
Piperazine 68% / Anhydrous
v
Phthalic Anhydride
v
Phosphoric Acid 85% (Food grade /
Technical grade)
v
Pivalic Acid
v
Potassium Carbonate Powder / Granules
v
Potassium Hydroxide Flakes
v
Potassium Permanganate
v
Propylene Glycol Tech / USP
v
Salicylic Acid 99% Tech. Grade
v
Soap Noodles
v
Soda Ash Light / Dense
v
Sodium Bi carbonate
v
Sodium Hypochlorite
v
Sodium Hydro Sulphite 85% / 88%
v
Sodium Nitrite 99 %
v
Sodium Nitrate 99 %
v
Sodium Cyanide
v
Sodium Hexa Meta Phosphate
v
Sodium Metal
v
Sodium Metabisulphite
v
Sodium Sulphate
v
Sodium Saccharin
v
Sodium Tri Poly Phosphate
v
Sodiumthiosulfate
v
Trichloroethylene
v
Trimethylamine
v
Trimethylamine-HCI
v
Thiourea Titanium Dioxide (Anatase /
Rutile )
v
Tetra Hydro Furan
v
Toluene Di-Iso Cyanate
v
Zinc Oxide
Our Products (Exports)
Chemicals
v Ammonium
Aluminum Sulphate
v Ammonium
Chloride Bars (Sal-ammonic bars)
v Aniline
in Iso Tank / drums
v Ammonium
Chloride
v Caustic
Soda Flakes / Prills / Pearls / Lye
v Citric
Acid Monohydrate / Anhydrous
v Dimethylamine
v Formic
Acid 85%
v Ferric
Aluminum Sulphate
v Glycerine
USP / BP
v Hydrogen
Peroxide 50% / 35%
v Monomethylamine
v Nitro
Benzene in ISO tank / Drums
v Non
Ferric Aluminum Sulphate
v Phthalic
Anhydride
v Phosphoric
Acid
v Potassium
Carbonate
v Potassium
Hydroxide
v Sodium
Chloride (Salt All grades)
v Sodium
Nitrite 99 %
v Sodium
Nitrate 99 %
v Sodium
Cyanide
v Trimethylamine
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 records 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.46.34 |
|
UK
Pound |
1 |
Rs.84.27 |
|
Euro |
1 |
Rs.57.96 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP
CAPITAL |
1~10 |
4 |
|
OPERATING
SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
TOTAL |
|
37 |
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 |
Unfavourable
& favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
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 |