MIRA
INFORM REPORT
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Report Date : |
21.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
CJEX INTERNATIONAL |
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Registered Office : |
415, Daulat Bhavan, 407, Kalbadevi Road, Mumbai – 400 002,
Maharashtra. |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
22.05.1995 |
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Legal Form : |
A Sole Proprietory Concern |
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Line of Business : |
Subject is engaged in Import and Export of
chemicals and peptides. The Concern deals in Peptides, Chemicals, Speciality
Chemicals, Drug Intermediates, Fine Chemicals. |
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 8800 |
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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 at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
415, Daulat Bhavan, 407, Kalbadevi Road, Mumbai – 400 002,
Maharashtra, India |
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Tel. No.: |
91-22-22033022/22095555 |
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Mobile No.: |
91-9820229818 |
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Fax No.: |
91-22-22064439 |
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E-Mail : |
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Website : |
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Area : |
700 sq. ft. |
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Location : |
Owned |
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Factory : |
Located at: Navi Mumbai, Maharashtra, India. |
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Location : |
Rent |
SOLE PROPRIETOR
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Name : |
Mr. Chetan P. Joshi |
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Designation : |
Sole Proprietor |
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Date of Birth/Age : |
32 Years |
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Qualification : |
Commerce Graduate |
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Experience : |
16 Years |
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Other Details : |
He is specialised in international trading with experience of over 16
years in chemicals trading & manufacturing. He is looking after
marketing, sourcing and research. |
KEY EXECUTIVES
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Name : |
Mr. Jayesh P. Joshi |
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Designation : |
In-Charge (Administration and Logistics) |
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Other Details : |
He is specialised in international trading with experience of over 5
years in chemicals trading. He is in charge of administration &
logistics. |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in Import and Export of
chemicals and peptides. The Concern deals in Peptides, Chemicals, Speciality
Chemicals, Drug Intermediates, Fine Chemicals. |
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Products : |
Þ Peptides Þ Chemicals Þ Speciality
Chemicals Þ Drug
Intermediates Þ Fine Chemicals |
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Exports : |
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Products : |
Chemicals |
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Countries : |
Europe, USA, Far East, Africa, UAE and China |
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Imports : |
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Products : |
Chemicals and Peptides. |
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Countries : |
USA, China, Germany, Belgium, France, Estonia and HongKong |
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Terms : |
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Purchasing : |
L/C, 30 days credit and advance payment terms. |
GENERAL
INFORMATION
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Customers : |
Pharma and Chemical Companies in Europe, Far East, India, Mexico and
U.S.A. |
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No. of Employees : |
About 15 |
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Bankers : |
Þ State Bank of
India
Opera House Branch, Mumbai – 400 004, Maharashtra, India
Account Number: 5102 |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.200 millions |
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Borrowed : |
Nil |
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Total : |
Rs. 2.200 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
120.000 |
100.000 |
70.000 |
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LOCAL AGENCY
FURTHER INFORMATION
Notes:
2/16, Seeta Mahal, B P Road, Warden Road, Mumbai – 400 026, Maharashtra,
India
(given address is residence of the proprietor)
Subject is in trade terms with:-
Þ Molecular Research
Centre, U.S.A.
Tel No. 001
5138410900
Þ
M. K. J. Group, Sharjah
Tel No. 97 14
2254622
Þ
Zhejing Medicines & Health Products Imports & Exports Company Limited,
China
Tel. No. 86 571
87037600
Þ
Sinochem, China
As Per Web:
Profile
Subject was established in 1995, CJEX is a closely held and
professionally managed business.
The management is highly experienced with a broad knowledge of both
Domestic and International Markets, and are experts in product applications and
processes, ably supported by a well organized team which can develop / source
your requirement satisfying quality, pricing and other parameters.
Success with
Growth
The Company’s success and growth have been attained through a deep
understanding of consumer needs and by meeting those needs with creative ideas
and innovative products sold to manufacturers and consumers around the world.
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. 41.67 |
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UK Pound |
1 |
Rs. 83.41 |
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Euro |
1 |
Rs. 56.61 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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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54 |
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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