MIRA
INFORM REPORT
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Report Date : |
14.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
MICRO
CNC TECHNOLOGIES PRIVATE LIMITED |
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Registered Office : |
15-D,
SIDCO Industrial Estate, Ambattur, Chennai – 600098, Tamil Nadu, India |
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Country : |
India |
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Financials (as on) : |
---- |
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Date of Incorporation : |
06.05.2005 |
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Com. Reg. No.: |
18-056205 |
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CIN No.: [Company
Identification No.] |
U34300TN2005PTC056205 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEM07864D |
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Legal Form : |
Private
Limited Liability Company. |
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Line of Business : |
Subject
is engaged in the business of manufacturing buying, selling, reselling,
contracting, exchanging, hiring, altering, importing, exporting,
improving, assembling, distributing,
servicing, repairing and dealing in as original equipment manufacturers as
also on a jobbing industry basis and in any other capacity all and every kind
of machines, component parts, replacement parts, spare parts, accessories,
tools, implements and fittings of all kinds inclusive of all types of axles
and all relevant axle assembly, components, parts and accessories, propeller
shafts and universal joints, ornamentation and decorative parts for motors,
vehicles, trucks, tractors, motor-lorries, motor cycles, motors, cycle,
scooters, buses, omnibuses, locomotives, tanks, ships, engines, wagons,
boats, barges, launches, sub marines, aero planes, airships, seaplanes,
ballons, aircrafts, spaceships, spacecrafts, rockets, space shuttles of every
descriptions and other vehicles and products of all description whether
propelled or used by means of petrol, spirit, steam, oil, vapour gas, coal,
electricity, petroleum, atoms, or any other motive or mechanical power in
India or elsewhere and to carry on any other business, manufacturing or
otherwise which is connected to the above. |
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 yet to establish itself. Company’s first financials are
awaited. No repayment are available at present. The
company can be considered for small business dealings with slight caution
initially. |
LOCATIONS
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Registered Office : |
15-D,
SIDCO Industrial Estate, Ambattur, Chennai – 600098, Tamil Nadu, India |
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Tel. No.: |
91-44-26251754
/ 26251592 |
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Mobile No.: |
91-9444014625 |
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E-Mail : |
DIRECTORS
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Name : |
Mr B
Mohandas |
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Designation : |
Director |
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Address : |
114/1,
West End Colony, Mogappair, Chennai - 600050 |
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Name : |
Mrs M
Jansi |
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Designation : |
Director |
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Address : |
114/1,
West End Colony, Mogappair, Chennai - 600050 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
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Mr B
Mohandas |
500 |
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Mrs M
Jansi |
500 |
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BUSINESS DETAILS
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Line of Business : |
Subject
is engaged in the business of manufacturing buying, selling, reselling,
contracting, exchanging, hiring, altering, importing, exporting,
improving, assembling, distributing,
servicing, repairing and dealing in as original equipment manufacturers as
also on a jobbing industry basis and in any other capacity all and every kind
of machines, component parts, replacement parts, spare parts, accessories,
tools, implements and fittings of all kinds inclusive of all types of axles
and all relevant axle assembly, components, parts and accessories, propeller
shafts and universal joints, ornamentation and decorative parts for motors,
vehicles, trucks, tractors, motor-lorries, motor cycles, motors, cycle,
scooters, buses, omnibuses, locomotives, tanks, ships, engines, wagons,
boats, barges, launches, sub marines, aero planes, airships, seaplanes,
ballons, aircrafts, spaceships, spacecrafts, rockets, space shuttles of every
descriptions and other vehicles and products of all description whether
propelled or used by means of petrol, spirit, steam, oil, vapour gas, coal,
electricity, petroleum, atoms, or any other motive or mechanical power in
India or elsewhere and to carry on any other business, manufacturing or
otherwise which is connected to the above. |
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Products : |
LIST
OF ITEMS MANUFACTURING IN THE FACTORY
AUTOMOBILE
MOULDS , PRESS TOOLS AND ITS
PARTS
of Engineering product right from
design to endurance test. Company has an experience of
reverse engineering the product and develop the same. |
GENERAL
INFORMATION
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Customers : |
Domestic
and Overseas Corporate Clients |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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15,00,000 |
Equity
Shares |
Rs 10/- each |
Rs 15.000 Millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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10,000 |
Equity
Shares |
Rs 10/- each |
Rs 0.100 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
No
Financials as new company.
LOCAL AGENCY
FURTHER INFORMATION
Micro Precision Industries was founded in 1995 by B.Mohandas with Engineering back ground with the intention of providing product development services to the customers right from design, tooling, manufacturing of the product to endurance testing of the same. In 1999 CNC Machining facility added and started manufacturing automobile and Agri auto components to automobile ancillaries. In 2001 added some more CNC machines, started manufacturing of valve components and mould manufacturing to tyre manufacturing Industry and press tools to automobile ancillaries. In 2004 again company added three more Daewoo Machines and started exports of Valve bodies and its accessories to Europe and American countries directly and some of the items through their domestic partners.
Micro precision Industries has highly knowledged and dedicated man power right
from the bottom level to top level. Company has separate team for Engineering,
planning, production, procurement, quality assurance and dispatch. Company has
dedicated maintenance team to maintain the machines and entire factory other
than the machineries.
Company has all state of art latest version Machineries like Daewoo, Dahlih,
Nakamura, Gildmeister CNC Machines. Kindly visit Machineries web page for
details.
Company has been certified and certificate awarded by the TUV, Germany for the
Quality management System and Company has been approved by the Valve Major
FISHER CONTROLS and similar other customers.
Micro precision Industries has committed themselves to meet their customer
requirements in all forms and at any time and any type of Engineering
requirement.
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.44.09 |
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UK
Pound |
1 |
Rs.86.59 |
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Euro |
1 |
Rs.57.92 |
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 |
4 |
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--PROFITABILIRY |
1~10 |
1 |
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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 |
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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21 |
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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