MIRA
INFORM REPORT
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Report Date : |
01.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
VAAN CHEMICALS |
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Registered Office : |
1-118 Ganpati Plaza, Phool Bagh, Bhiwadi – 301019, Rajasthan |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2007 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer and Trading of Printing Chemicals, Blanket Washing
Chemicals, Agro Chemicals, Pharmaceutical Chemicals and Paint Chemicals. |
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 : |
USD 14000 |
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Status : |
New Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new concern having no track. Trade relations are and
payment records are not available. Initially, the concern can be considered for any business dealings on safe
and secured trade terms and conditions, only. |
LOCATIONS
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Registered/Adm. Office : |
1-118 Ganpati Plaza, Phool Bagh, Bhiwadi – 301019, Maharashtra, India |
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Tel. No.: |
91-1493-645745 |
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Mobile No.: |
91-9829628700 |
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Fax No.: |
91-1493-645745 |
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E-Mail : |
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Website : |
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Area : |
300 sq. ft. |
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Location : |
Owned |
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Factory 1 : |
G-I/682, Industrial Area, Khushkhera, Bhiwadi – 301019, Alwar,
Rajasthan, India |
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Tel. No.: |
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Area : |
1000 sq. ft. |
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Location : |
Owned |
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Branches : |
UIT Sector 2, Shopping Complex No.8, Bhiwadi – 301019, India |
PARTNERS
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Name : |
Mr. Jatinder Kumar |
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Designation : |
Partner |
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Address : |
Bhiwadi |
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Date of Birth/Age : |
35 years |
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Qualification : |
Graduate |
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Experience : |
10 years |
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Name : |
Smt. Vivha Jha |
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Designation : |
Partner |
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Address : |
Bhiwadi |
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Date of Birth/Age : |
32 years |
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Qualification : |
Graduate |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer and Trading of Printing Chemicals, Blanket Washing Chemicals,
Agro Chemicals, Pharmaceutical Chemicals and Paint Chemicals. |
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Products : |
Hydro Carbons
Consumable
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Imports : |
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Products : |
Chemicals |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
L/C, Cash and Credit (30 days) Sight |
GENERAL
INFORMATION
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Customers : |
Retailers |
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No. of Employees : |
12 |
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Bankers : |
State Bank of India, Gurgaon, India |
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Banking
Relations : |
Unknown |
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Auditors : |
Not Appointed |
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Business Associates: |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.3.500 Millions |
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Borrowed : |
- |
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Total : |
Rs.3.500 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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500.000 |
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LOCAL AGENCY
FURTHER INFORMATION
Website details:
Subject is India’s leading manufacturers,
exporters, importers and traders of petrochemicals products.
Over a period of time, Subject has been
continuously raising the bar in technological and gainin enduring commitment to
protecting and enhancing the enviroment, serving and improving the communities
in which it functions, and adhering to the highest ethical standards of
corporate behavior. Today subject
manufacturer glycols, hydro carbon for printing industry like ink
manufacturers and printing wash manufacturers, Paint Industry pharmaceuticals.
The world class performance of subject
products along with its best process known-how helped to established sorses
relationship of quantity service and trust that provide the motivation for
further innovation and technical excellence at subject.
Subject takes the greatest possible care to
ensure the safety, health and walfare of its and the communicaties component of
this equation. The concern is a singnatory to responsible care, a voluntary
globale initiative of the chemicals allegiance to safety, health and
environmental issus.
Industrial Strengt
- All od their branches have in house warehouseing facilities.
- To test the chemicals they have state-of-the-art laboratories.
- Best of the fasilities to do the repacking.
- Having own fleet to carry time and safe deliveries
- Working with all the necessary licences like explosive licence,
solvent licence and alcohol licence etc.
- Obtained certificate from pollution control board to deal in
hazardous chemicals
- Their marketing team is well versed with the technicalities of the
chemicals and has sound understanding of customer needs.
- To carry out trials on the field they trained technicians.
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.39.67 |
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UK Pound |
1 |
Rs.81.78 |
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Euro |
1 |
Rs.58.46 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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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18 |
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. |
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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