MIRA
INFORM REPORT
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Report Date : |
27TH
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
DURON
POLYVINYLS PRIVATE LIMITED |
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Registered Office : |
Near Chungi, Daulatabad Road, Gurgaon - 122001, Haryana,
India |
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Country : |
India |
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Date of Incorporation : |
15.03.2005 |
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Com. Reg. No.: |
55-133946 |
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CIN No.: [Company
Identification No.] |
U25209DL2005PTC133976 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELD08935D |
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PAN No.: [Permanent
Account No.] |
AACCD1507A |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
The company is engaged in the manufacture
and export of PVC products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
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Status : |
New
company |
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
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Comments : |
Subject
is a new company and its estimated sales in the 1st year was of
Rs. 9/10 millions. Scale
of operation is small. No payments are known. The
company can be considered for small to mediocre business dealings on safe and
secured trade terms and conditions. |
LOCATIONS
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Registered Office : |
Near Chungi,
Daulatabad Road, Gurgaon - 122001, Haryana, India |
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Tel. No.: |
91-124-2469780, 3295483 |
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Mobile No.: |
91-9910174583 |
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Fax No.: |
91-124-2468045 |
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Website
: |
DIRECTORS
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Name : |
Mr.
Jasvinder Singh Bhatia |
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Designation : |
Director
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Address : |
237,
Bannu Enclave Road No. 42, Pitam Pura, Delhi – 110034 |
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Date of Appointment : |
15.03.2005 |
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Name : |
Mr.
Nishank Tandon |
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Designation : |
Director
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Address : |
AG-1/112-C,
Vikas Puri, New Delhi – 110018 |
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Date of Appointment : |
15.03.2005 |
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MAJOR SHAREHOLDERS
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Names
of Shareholders |
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No. of Shares |
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Mr.
Jasvinder Singh Bhatia |
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5000 |
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Mr.
Nishank Tandon |
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5000 |
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Total
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10000 |
BUSINESS DETAILS
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Line of Business : |
The company is engaged in the manufacture
and export of PVC products. |
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Products : |
v
PVC Waterstop v
PVC Doors & Profiles v
PVC Fills v
PVC Mist Eliminators v
PVC Tube Settler (PVC Media) v
Cooling Tower Components v
Neoprene Rubber Sheets & Gaskets Of
Various Sizes v
PVC Canal Lining |
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Export to : |
Worldwide
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GENERAL
INFORMATION
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Customers : |
v
Narmada Project Gujarat & M.P v
Nuclear Power Corporation v
N.T.P.C. v
N.H.P.C. v
Sparetex (India) v
Spin Air Systems Private Limited v
SKB Systems v
FR Systems v
North Streets Cooling Towers Private
Limited v
Hamon Thermopack Engineers Private
Limited v
ABC Coimbatore Private Limited v
Bell Cooling Task Private Limited v
L&T Limited v
Simplex Concrete Piles India Limited
v
AFCORN Infrastructure Private
Limited |
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No. of Employees : |
50 |
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Memberships: |
Participating in Plast India |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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100000 |
Equity
Shares |
Rs. 10/- each |
Rs. 1.000 millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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10000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.100 millions |
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FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
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31.03.2006 |
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Sales Turnover |
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9.500 |
As it is
a new company, no financial are available.
LOCAL AGENCY
FURTHER INFORMATION
BUSIENSS
To carry
on in India or elsewhere the business to manufacture, alter, brand, convert,
clean prepare, packers, repackers, grade, import, export buy, sales, resale and
to act s agent, suppliers, providers, collaborator, consignor, consultants,
stockist, distributor, trader C and F agent, concessionaries, job work and
remodel, supply, representatives, including manufacturing and trading of all
kinds of PVC, resin, rubber, polythene, PVC panel, cooling towers, water stop
carnal lining, mist eliminators, sheets, films whether rigid, semi rigid, semi
rigid, flexible and profit, laminations plastic, plastic scrap, HDPE, polymers,
co-polymers, co-polymers, monomers,
elastomers, resins, cotton coated PVC polyesters and other allied materials
with or without combinations of other ferrous or non ferrous materials.
No
further business details could be available.
AS
PER WEBSITE
'Duron Polyvinyls (P) Ltd.' is engaged in the manufacture and export of PVC
products. Their complete range of products
includes PVC, PVC Doors & Profiles, PVC Fills, PVC
Mist Eliminators, PVC Tube Settler (PVC Media), Cooling Tower Components,. Vast knowledge and thorough understanding of the field is their
specialty and they are known for effective product quality. Every product
manufactured in their premises has its own identical features and within a very
short duration they have created a special place for theirselves both in
national and international market. They are in the production of PVC Components
so they are ready to develop any item in PVC which is commercially viable.
Product Range
Their products have huge demand in construction sector & household
consumption. They also develop commercially viable Plastic
Products.
Infrastructural
Facilities
They have a well built set up. Latest machineries and in-house laboratory
having standardized testing equipments are the strong aspects of their company.
Every equipment is of world class status. With the help of expert professionals
and technicians they are successfully meeting the demands of market.
Main
Features
There are various reasons why their range of PVC, PVC Doors
& Profiles, PVC Fills, PVC Mist Eliminators, PVC Tube Settler(PVC Media), are preferred in the market. Some of them can be listed as :
v Economical
v No Maintenance
v Fire Resistant
v Light Weight
v No Wastage
v Reasonable Rates
v State-of-the-art Facilities
v Punctual Delivery Schedules
PVC, PVC Doors & Profiles, PVC Fills, PVC Mist
Eliminators, PVC Tube Settler (PVC Media). Cooling Tower components,
Humidification Equipments, PVC Canal Lining and Waste water treatment
components.
Goal
They have four commercial goals :
v Total customer satisfaction
v Authentic product quality
v Controlled cost of production
v Timely work execution
The company’s aim is to become
the largest manufacturer of PVC products in India.
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
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Currency |
Unit
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Indian Rupees |
|
US
Dollar |
1 |
Rs. 46.40 |
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UK
Pound |
1 |
Rs. 84.50 |
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Euro |
1 |
Rs. 58.32 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and principal
sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |