MIRA
INFORM REPORT
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Report Date : |
25.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
ARVEE ELECTRICALS AND ENGINEERS PRIVATE LIMITED |
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Registered Office : |
J-231, MIDC Bhosari Industrial Estate, Pune; 411026, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
11.09.1987 |
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Com. Reg. No.: |
044638 |
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CIN No.: [Company
Identification No.] |
U51505MH1987PTC044638 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of LT Panels |
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 : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company having moderate track.
Company’s profitability is under severe pressure. It has huge accumulated
losses. Payments are reported as slow and delayed The company can be considered for small business dealing with slight
caution initially. |
LOCATIONS
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Registered Office /Factory: |
J-231, MIDC Bhosari Industrial Estate, Pune; 411026, Maharashtra |
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Tel. No.: |
91 20 2747 5597 |
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Fax No.: |
91 20 56116982 |
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E-Mail : |
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Website : |
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Office : |
Flat No. 3, 2nd floor, Vidhya Sahakari Bank
Bldg. Plto No. 2, Survey No. 127, |
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Tel. No.: |
91 20 2588 8881 |
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Fax No.: |
91 20 2588 9003 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Arun Tiribhuvandas Doshi |
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Designation : |
Director |
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Address : |
1162/5 Shivaji Nagar, Ganesh
Kind Road, Pune;411005, Maharashtra |
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Date of Birth/Age : |
06.05.1936 |
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Date of Appointment : |
01.04.1989 |
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Name : |
Ms. Asha Arun Doshi |
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Designation : |
Director |
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Address : |
1162/5 Shivaji Nagar, Ganesh
Kind Road, Pune;411005, Maharashtra |
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Date of Birth/Age : |
04.02.1944 |
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Date of Appointment : |
11.09.1987 |
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Name : |
Mr. Diaraynchandra Rohinkumar Datta |
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Designation : |
Whole time Director |
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Address : |
Shital Building 48/5, Nr. Vastu Udyog Pimpri Pune; 411018, Maharashtra |
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Date of Birth/Age : |
01.06.1954 |
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Date of Appointment : |
01.04.2001 |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Arun Tribhuvan Doshi |
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2010 |
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Asha Arun Doshi |
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7010 |
Equity Share break-up:
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Category |
Percentage |
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Directors or
relative of directors |
100.00 |
BUSINESS DETAILS
GENERAL
INFORMATION
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Customers : |
Sugar Plants
Oil Plants
Steel Plant
4. Cement Plant
·
Nirani Cement Plant (Karnataka Co-Generation Plants
Granulation Fertilizer Plant
Foundries
Other Industries
Metallurgy Plant
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Bankers : |
The Cosmos
Co-operative Bank Limited 269/270, Shaniwar
Peth, Pune;411030 |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shah parekh and Sabhani Chartered Accountant |
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Address : |
M-12, II Wing, Thakkar House, 2418, East Street, Pune;41101,
Maharashtra |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Millions |
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5000 |
Preference Shares |
Rs.100/- each |
Rs.0.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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9020 |
Equity Shares |
Rs. 100/-
Each |
Rs.0.902
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.902 |
0.902 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.749 |
0.749 |
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4] (Accumulated Losses) |
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(9.721) |
(5.167) |
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NETWORTH |
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(8.070) |
(3.516) |
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LOAN FUNDS |
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1] Secured Loans |
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6.903 |
10.939 |
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2] Unsecured Loans |
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6.123 |
4.398 |
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TOTAL BORROWING |
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13.026 |
15.337 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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4.956 |
11.821 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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4.938 |
3.850 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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1.101 |
1.101 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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7.375 |
10.294 |
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Sundry Debtors |
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6.404 |
14.035 |
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Cash & Bank Balances |
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0.862 |
0.653 |
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Other Current Assets |
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0.422 |
2.550 |
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Loans & Advances |
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2.458 |
1.687 |
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Total
Current Assets |
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17.521 |
29.219 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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18.247 |
22.158 |
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Provisions |
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0.357 |
0.191 |
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Total
Current Liabilities |
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18.604 |
22.349 |
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Net Current Assets |
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(1.083) |
6.870 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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4.956 |
11.821 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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(2.30) |
(6.35) |
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Current Ratio (Current Asset/Current Liability) |
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0.94 |
1.30 |
LOCAL AGENCY
FURTHER INFORMATION
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Name of the company |
Arvee Electricals
and Engineers Private Limited |
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Presented By |
The Cosmos Co-operative
Bank Limited 269/270, Shaniwar
Peth, Pune;411030 |
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1) Date and description of instrument creating the change |
24th March 2004
(Both documents constitutes single charge) |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.15.000
Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Material under
L/C and Margin Deposit, Movable Property |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest 14% P.a |
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5) Name and Address and description of the person entitled to the charge. |
Margin : 15% |
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6) Date and brief description of instrument modifying the charge |
NA |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
As Per Web Site:
Profile:
Since 1978, The company. has become a
reputed name in LT Panels Manufacturers & Turnkey Electrical Contractors in
India. The company first started as a small group for manufacturing of quality
panels for fertilizer plant in Mumbai. And today with the mutual support of its
devoted technocrats, the company has reached to a position where it stands
steady proudly.
Company has set up a high tech. manufacturing plant with sophisticated
facilities in Bhosari MIDC at Pune, where the company caters the requirements
of industry. With over 22 years of experience, the company has made a major breakthrough
in the field of Turnkey electrical contractors and owns the responsibility of
handling Turnkey contracts of Electrical projects for Sugar, Cement,
Fertilizer, Metallurgical Plants and all other areas. The company is also
involved in the manufacturing of Low Voltage, Power Control Centre (PCC), Motor
Control Centre (MCC), Distribution Boards, Control Panels, Bus-Ducts &
Control desks and also in the Designing, Detail Engineering and drawing of
Electrical Installation.
Being a
technically sound company, believes in building long-term relationships and
thus offers lasting values to its customers. Recognized as one of the most
reputed, reliable and organizations in the field of Lt Panel Manufacturers
& Turnkey Electrical Contractors in India, the company offers high quality
products and efficient services to its most valued customers which has enabled
it with ample success.
Their Strengths:
Rooted in the determination to create a flexible and dynamic organization that promotes excellence, fosters entrepreneurships and unleashes innovation, Company strives to achieve this goal by continual improvement in their process, product quality, services and management system to meet Customer expectations.
With
more than 22 years of experience the company has gained a vast experience in
providing solutions for electrical project & installation. With unique
blend of experience and capabilities the company has been handling more than
200 turnkey projects for every kind of industry including Sugar, Cement, Fertilizers
and Metallurgical Plants. Exposer to overseas projects in the Countries such as
Zambia, Kenya, Bangladesh, Tanzania, Vietnam, Srilanka, Lebanon, Nepal, Uganda,
Indonesia & Colombia has lead the company to become leader in the field of
Turnkey Electrical Contracts.
The
company has always followed the principle of providing quality services to its
most valued customers and thus provides its customers with the most consistent
high quality of electrical control panels & turnkey electrical installation
as per Customer requirements. With the very able and experienced manpower form
the varied field of engineering, manufacturing, and erection &
commissioning, the company believes that it would most probably achieve its
goal.
Over
the years, Company has established itself as a reliable source of quality
products. And this was possible only through ethical management, honest work,
open communications and strenuous effort of its people and also with a sincere
desire to reach the position where the company stands today.
Products
Over the years Company has established itself
as a reliable source of quality products. Rigorous quality control is practiced
at every stage of manufacturing to ensure batch to batch consistencies.
1. Power Control Centers (PCC)
Features :
- Tested at
CPRI for 50 KA short circuit level.
- Compartmentalized,
fully segregated , modular construction panels. Easy extensibility on
either sides.
- Main bus
bars at the top Vertical bus bars at the front or rear.
- Cable entry
from bottom or top , as required. Spacious cable alleys at rear or front
side for each panel.
- Can be
offered in single or double front design.
- Bus bars and
components easily accessible for ease of maintenance.
- Panel’s
electro statically painted after seven tank surface treatment.
- Electrolytic
grade aluminum (E91E)/copper bus bars, as required. Bus bars provided
with heat shrink black sleeve .Colour bands provided at regular intervals
for phase identification.
- Individual phase
supports made up for fiber glass reinforced polyester SMC material having
high mechanical strength, are resistant and anti-tracking properties.
- Shrouds of
insulating material for bus bar joints provided (optional)
- Auxiliary
supply buses , for control supply and panel space hater supply, can be
provided.
2. Motor Control Centers (MCC)
Features :
- Tested at
CPRI for 50KA short circuit level.
- Compartmentalized
, modular construction panel .Easy extensibility on the either sides.
Cable entry from bottom or top , as required.
- Panels
electro statically painted after seven tank surface treatment.
- Electrolytic
grade aluminum (E91E) Copper bus bars covered with heat shrink black
sleeve color bands provided at regular intervals for phase identification.
- Separate set
of vertical bus bars for double front design.
- Spacious
individual cable alley for each vertical feeder section.
- Complete dust
& vermin proof.
- Aux , supply
buses for control supply and are space heater supply , are provided.
3. Busbar Trunking with plug in boxes
Features :
- Tested at
CPRI for short circuit level of LT bus duct at 50KA
- L.T. Bus duct
with interleaved design.
- Rigid
construction with folded and bent M.S>Sheets. Individual sections in convenient
length bolted together to form the entire assembly.
- Designed for
indoor and outdoor applications.
- Bus bars of
electrolytic grade aluminum (E91E) / copper, three phase and neutral. Bus
bars supports made of fibre glass reinforced polyester SMC material.
- Bus bars
painted with black matt finish.
- Parts the bus
duct assembly :
- Straight
run –indoor/ outdoor
- Adaptor
boxes at PCC and Transformer /Alternators ends.
- Copper
flexible at the PCC, Alternator and Transformer ends.
- Copper/
Aluminum expansion joints in the straight run of the bus duct (Optional)
- Phase
cross-over chamber (optional)
- Inspection
covers are provided
- Epoxy
moulded /FRP fire barrier and rubber bellows can be provided (optional)
- Wall Sealing
Assembly.
5. Control Panels
with or without process mimic diagrams
6.
Control desks / stands for various applications
7.
Power and Lighting Distribution boards
9.
Off load /On load changeover switches up to 2000amps
10. Cont. & batch type Centrifugal Machine Panels
11. Auto transformer panels & Soft starter Panels
Services:
With a unique blend of experiences and capabilities Companyconfidently offer
wide range of services to its valued customer. For last 22 years the company
has been catering the requirements of its customer and has won several
accolades for the service it provides.
Today the company caters the needs of industry in various fields like
handles the turnkey contracts of Electrical projects for Sugar, Cement,
Fertilizer, Metallurgical Plants and all others areas. The company is also into
manufacturing of Low Voltage, Power Control Centre (PCC), Motor Control Centre
(MCC), Distribution Boards, Control Panels, Bus-Ducts & Control desks and
also in the Designing, Detail Engineering and drawing of Electrical
Installation.
The company has always maintained a good & healthy relationship with
its customer and offer them best valued services that meet or exceed their
expectations.
Projects:
List of various projects executed turnkey basis.
6. Granulation Fertilizer Plant
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.41.07 |
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UK Pound |
1 |
Rs.81.69 |
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Euro |
1 |
Rs.55.84 |
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 |
3 |
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OPERATING SCALE |
1~10 |
1 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
1 |
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--MARGINS |
-5~5 |
1 |
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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 |
NO |
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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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22 |
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 |
|
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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