MIRA
INFORM REPORT
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Report Date : |
27.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
BHAGWAN SINGH TANDON |
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Registered Office : |
E-59, Sector 7, Noida – 201 301, Uttar Pradesh, INDIA |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1977 |
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Legal Form : |
Partnership
Concern with Unlimited Liability of the Partners. |
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Line of Business : |
The
concern is engaged in manufacture and marketing of medium and extra heavy
duty wheels and Castors, |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
15,000 |
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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 a well-established concern having satisfactory track. Trade relations are
fair. Payments are usually correct and as per commitments. The
concern can be considered normal for business dealings usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
E-59, Sector 7, Noida – 201 301, Uttar Pradesh, INDIA |
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Tel. No.: |
91-120-2423017 |
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Mobile No.: |
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Fax No.: |
91-20-2423021,2423649 |
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E-Mail : |
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Website : |
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Area : |
20,000
sq.ft. |
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Location : |
Owned |
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Factory
1 : |
E-59,
Sector 7, Noida – 201301, Uttar Pradesh, India. |
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PARTNERS
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Name : |
Mr.
Amar Deep Singh |
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Designation : |
Partners |
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Date of Birth/Age : |
45
years |
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Qualification : |
Graduate |
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Experience : |
20
years |
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Name : |
Mr.
Gurdeep Singh |
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Designation : |
Partners |
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Date of Birth/Age : |
38
years |
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Qualification : |
Graduate |
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Experience : |
15
years |
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BUSINESS DETAILS
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Line of Business : |
The
concern is engaged in manufacture and marketing of medium and extra heavy
duty wheels and Castors, |
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Brand Names : |
“
MUVTONS” |
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Exports to : |
S.E
Asia, Middle East, Canada, Europe |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
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PRODUCTION
STATUS
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Particulars |
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Installed Capacity |
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Castor |
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100kg. To 10,000Kgs. |
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GENERAL
INFORMATION
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Customers : |
OEMs
and Distributors. |
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No. of Employees : |
65 |
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Bankers : |
Corporation
Bank of Noida, U.P. |
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Facilities : |
The
Concern do not enjoy facility from it’s bank |
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Banking Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
4.000 Millions |
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Borrowed : |
--- |
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Total : |
Rs.
4.000 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
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31.03.2005 |
31.03.2006 |
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Sales Turnover |
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100.000 |
100.000 |
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Expected
Sales the of March 2007. Rs.120 Millioms
LOCAL AGENCY
FURTHER INFORMATION
The
Concern is in trade terms with Marti Udyog Ud, Ancilliary Unit, Technical
Stamping, Chennai
Muvtons,
Manufactures the most comprehensive range of heavy and extra heavy duty wheels
and castors. For over 25 years they have been recognized world leaders in
standard and spcialized wheels and castors. Millions of theirs wheels and
castors have been time proven in every conceivable application in the material
handing industry.
Products
are manufactured in their fully integrated plant at Noida, Just out side of New
Delhi, that comprises of the latest in technology ranging from CAD-CAM systems
to CNC machining, Robotic Welding and Computerized Polyurethane casting plan
ensuring zero defect wheels & castors that last a life time.
Because
that rely purely on their own resources, their customers can rely on them. Ever
finished wheel and castor is individually inspected before it is allowed out of
the plant. Production is randomly selected and subjected to in-house dynamic
testing.
The vast
in-house design & manufacturing capabilities allow them to meet special
demands in very short times. Their design engineers with extensive Knowledge of
the castor industry provide complete solutions to the customers material
movement needs.
Quality
Muvtons
has had a consistent policy of producing high quality – maintenance free
castors to benefit their customers. Muvtons is an ISO 9001:2000 Certified
Companty for design, manufacture & supply of wheel & castors.
In
addition to their excellent product quality Muvtons has an enviable worldwide
reputation of providing service and reliability. Most requests for technical
information or designs are responded to within 48 hours.
To prove
customers with extremely quick deliveries they hold huge inventories of
finished products as well as semi-finished components.
In spite
of the products being manufactured on the state of the art machines – products
are put to rigorous endurance. Polyurethane & Rubber, Wheels that are
bonding strength.
This
strong commitment of MUVTONS towards its quality goals has helped it to retain
customers for decades.
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 |
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US
Dollar |
1 |
Rs. 44.74 |
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UK
Pound |
1 |
Rs. 86.68 |
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Euro |
1 |
Rs. 58.71 |
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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5 |
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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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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