MIRA
INFORM REPORT
|
Report Date : |
16.02.2007 |
IDENTIFICATION DETAILS
|
Name : |
POLYRUB EXTRUSIONS
INDIA PRIVATE LIMITED |
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Registered Office : |
90, Mistry Industrial Complex, MIDC
Cross Road A, Andheri (East), Mumbai - 400 093, Maharashtra, India. |
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Country
: |
India |
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Financials
(as on) : |
31.03.2006 |
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Date of Incorporation : |
19.10.2005 |
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Com. Reg. No.: |
11-156873 |
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CIN
No.: [Company
Identification No.] |
U25110MH2005PTC156873 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
MUMP21218B |
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PAN No.: [Permanent
Account No.] |
AADCP7071L |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Subject is engaged
in the business of manufacture, trading, imports and exports selling of
otherwise dealing in rubber and engineering goods a such as rubber
components, rubber molded items, rubber to metal bonded items and rubber
extruded items such as hoses, profiles, pipes, strips, sheets and other
related articles things, whether on own account or through others or an
behalf of others. |
RATING
& COMMENTS
|
MIRA’s Rating : |
Ba |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 80000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
successor of Polyrub Extrusions (India), whose report is enclosed herewith. Directors are
reported as experienced, respectable and having satisfactory means of their
won. Their trade relations are fair. Payments are correct and as per
commitment. The company can be
considered good for normal business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office : |
Mistry Industrial Complex, MIDC Cross
Road A, Andheri (East), Mumbai - 400 093, Maharashtra, India. |
|
Tel. No.: |
91-22-28300360 / 28321769 / 28366494
/ 6441 / 26870441 / 26871769 / 26872696 / 26870330 |
|
Fax No.: |
91-22-28367339 / 26870339 |
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E-Mail : |
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Factory : |
Plot No. W-102 D, MIDC, Thane Belapur
Road, Khairne, Navi Mumbai - 400 075, Maharashtra |
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Tel. No.: |
91-22-55903530 / 55903531 / 55901770
/ 71 |
|
Fax No.: |
91-22-55903532 |
|
E-Mail : |
polyrub@vsnl.net |
DIRECTORS
|
Name : |
Mr. K. Jayaprakash Vasdani |
|
Designation : |
Director |
|
Address : |
703, C Gasnga Estate, Atur Park,
Chembur, Mumbai - 400071 |
|
Date of Joining : |
Since Incorporation |
|
|
|
|
Name : |
Mr. Tulsi Sujan |
|
Designation : |
Director |
|
Address : |
401-402, Gulashan, Th. Of Ahinsa Marg
and Khar Banda Road, Khar (West), Mumbai – 400052 |
|
Date of Joining : |
Since Incorporation |
|
|
|
|
Name : |
Mr. Ashok Sujan |
|
Designation : |
Director |
|
Address : |
1701, Green Ache, Lokhandwala,
Complex, Andheri (West), Mumbai - 400058 |
|
Date of Joining : |
Since Incorporation |
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|
|
|
Name : |
Mrs. Satvinder Kaur V. Sujan |
|
Designation : |
Director |
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Address : |
302, Kripa Nidhi, JYPD, Scheme,
Gulnchar Crosss, Road, 4, Vile Parle (West), Mumbai - 400056 |
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Date of Joining : |
Since Incorporation |
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|
|
|
Name : |
Mrs. Padam H. Sujan |
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Designation : |
Director |
|
Address : |
B-4-69, Basant Park, Mahul Road,
Chembur, Mumbai – 400071 |
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Date of Joining : |
Since Incorporation |
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|
Name : |
Mrs. Sheetal N . Sunjay |
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Designation : |
Director |
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Address : |
802/902, Ruchita Towers, Juhu Versova
Road, Andheri (West), Mumbai – 400053 |
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Date of Joining : |
Since Incorporation |
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Name : |
Mrs. Kanchann L
Sujan |
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Designation : |
Director |
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Address : |
1307, Giriraj,
Neelkanth Valley, Rajawadi, Road, Ghattkopar (East), Mumbai - 400077 |
|
Date of Joining : |
Since Incorporation |
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|
|
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Other personal |
|
|
Name : |
Mr. A Sekar |
|
Designation : |
Practicing company
secretary |
|
Address : |
A6, Samadham,
Radabhai Cross Road, 3, Vile Parle, (West), Mumbai- 56 |
MAJOR
SHAREHOLDERS
|
Names of Shareholders |
No.
of Shares |
|
Mr Tulsi R. Sujan |
99000 |
|
Mr. K. Jayaprakash Vasdani |
396000 |
|
Mr. Ashok Sujan |
99000 |
|
Mrs. Padam H. Sujan |
99000 |
|
Mrs. Sheetal N . Sunjay |
99000 |
|
Mrs. Satvinder Kaur V. Sujan |
99000 |
|
Mrs. Kanchann L
Sujan |
99000 |
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|
|
|
|
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BUSINESS
DETAILS
|
Line of Business : |
Subject is engaged
in the business of manufacture ,trading , imports and exports selling of
otherwise dealing in rubber and engineering goods a such as rubber
components, rubber molded items, rubber to metal bonded items and rubber
extruded items such as hoses , profiles, pipes, strips, sheets and other
related articles things , whether on own account or through others or an
behalf of others. |
|
|
|
GENERAL
INFORMATION
|
No. of Employees : |
74 |
|
|
|
|
Bankers : |
State Bank of India Marol Branch,
Silver Arcade, Mumbai – 400059 |
|
|
|
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Banking
Relations : |
Satisfactory |
|
|
|
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Auditors : |
Bharat Kumar H.
Rave Chartered
Accountants 606-B, Raj Vaibhav
–I, Mahavir, Nagar, Kandivli (West), Mumbai – 400067 S B Chhajed and
Company Chartered
Accountants 2/202, Inder Tower,
K G Marg, Dadar(West) , Mumbai – 400025, Maharashtra, India |
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|
|
|
Associates : |
Ř
Mega Rubber Technologies Private
Limited Ř
Veekay Rubber Products Ř
Speciality Elastomers Ř
Sujan Industries Ř
Tee-Vee Tools and Engineering
Industries Ř
Mould-de-Sujan |
CAPITAL
STRUCTURE
Authorised Capital
:
|
No. of Shares |
Type |
Value |
Amount |
|
30,00,000 |
Equity Shares |
Rs. 10 each |
Rs.
30.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9,95,000 |
Equity Shares |
Rs. 10 each |
Rs.
9.950 millions |
|
|
The paid up capital
of the company shall be a minimum of Rs. 0.100 millions |
|
|
FINANCIAL DATA
[all
figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2006 |
|
SHAREHOLDERS
FUNDS |
|
|
|
|
1] Share
Capital |
|
|
9.950 |
|
2] Share
Application Money |
|
|
0.000 |
|
3]
Reserves & Surplus |
|
|
9.797 |
|
4]
(Accumulated Losses) |
|
|
0.000 |
|
NETWORTH |
|
|
19.747 |
|
LOAN
FUNDS |
|
|
|
|
1]
Secured Loans |
|
|
54.298 |
|
2]
Unsecured Loans |
|
|
51.495 |
|
TOTAL
BORROWING |
|
|
105.793 |
|
DEFERRED
TAX LIABILITIES |
|
|
|
|
|
|
|
|
|
TOTAL |
|
|
125.540 |
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
30.131 |
|
Capital work-in-progress |
|
|
32.623 |
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
DEFERREX TAX ASSETS |
|
|
0.594 |
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
Inventories |
|
|
33.806 |
|
Sundry Debtors |
|
|
47.189 |
|
Cash & Bank Balances |
|
|
2.400 |
|
Other Current Assets |
|
|
0.893 |
|
Loans & Advances |
|
|
6.183 |
|
Total Current Assets |
|
|
90.471 |
|
Less
: CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
Current Liabilities |
|
|
25.257 |
|
Provisions |
|
|
3.277 |
|
Total Current Liabilities |
|
|
28.534 |
|
Net Current Assets |
|
|
61.937 |
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.255 |
|
|
|
|
|
|
TOTAL |
|
|
125.540 |
KEY
RATIOS
|
PARTICULARS |
|
|
|
31.03.2006 |
|
|
|
|
|
|
|
Debt Equity
Ratio (Total
Liability/Networth) |
|
|
|
6.80 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
|
3.17 |
LOCAL
AGENCY FURTHER INFORMATION
AS
PER WEBSITE
The Genesis :
"Success is the sum of efforts, repeated day in and day out ..."
A success story cannot be kept under wraps for too long. Sooner or
later the world is going to learn about it. Nobody knows it better than the
people of Sujan who, over the years, have built such a close and enduring
relationship with their customers by consistently bringing them quality
products.
A brief look at the history of this group will tell us that Sujan
started as a small entrepreneur in the Rubber processing industry. Over a
period of years, Sujan has transcended all barriers by its untiring efforts,
dedication and perseverance and today, stands among the leaders in Compounding,
Moulding and Extruding of Rubber products. Sujan operates through seven
seperately constituted firms that ensures effective working within the
framework of the Group.
Quality - simply uncompromising :-
"Quality is never an accident; it is always the result of
high intention, sincere effort, intelligent direction and skillful execution;
it represents the wise choice of many alternatives".
The Sujan Group is committed to the philosophy employee
improvement which is an enormous expression of faith & confidence in its
people. The Group ensures that it absorbs new technologies, new polymers, &
continously updates techniques to offer more value for money to its customers.
Three group companies are in the finishing stages of achieving ISO
9002 accreditation ensuring that their quality systems & process
capabilities form the base of their work ethic. Extensive laboratory facilities
at all stages of process (raw material in process & finished product) means
that the Sujan Group is in total control of all stages of development &
production.
Company’s vision beyond :
"Unless you try to do something beyond what you have
mastered, you will never grow."
The experience
gained over the years had emboldened the group to make forays into global
markets. Today, Sujan exports Engine Mounts, Bellows, Hose Pipes, Silent
Blocks, Valves, Small Fasteners and other miscellaneous products to the U.S.A,
U.K, Australia, Italy, Germany, West Indies and the Gulf.
REGD. OFFICE
Mistry lndustrial Complex
M.I.D.C. Cross Road A, Andheri (E)
Mumbai-400 093.INDIA.
Tel : 91-022-2687 0441, 91-022-2687 1769, 91-022-2687 2696, 91-022-2687 0330,
91-022-2687 0331
Fax: 91-022-2687 0339
E-mail: sujan@bom3.vsnl.net.in
FACTORIES
SUJAN
INDUSTRIES
16, 17 & 77, Mistry Industrial Complex
M. I. D. C. Cross Road A, Andheri (E)
Mumbai-400 093.
INDIA.
Tel 91-22-2687 0441, 91-22-2687 1769
Fax : 91-22-2687 0339
E-mail: sujan@bom3.vsnl.net.in
POLYRUB EXTRUSIONS (INDIA)
Plot No. W- 102 D, M. I. D. C.
Thane Belapur Road, Khairne
Navi-Mumbai-400 705.
INDIA.
Tel: 91-22-5590 3530, 91-22-5590 3531, 91-22-5590 1770/71
Fax : 91 - 22 - 5590 3532
E-mail : polyrub@mantraonline.com
E-mail : polyrub@vsnl.net
SPECIALITY ELASTOMERS
Plat No. W- 129 A, M. I. D. C.
Thane Belapur Road, Khairne,
Navi-Mumbai-400 705.
INDIA.
Tel: 91-22-5590 3530, 91-22-5590 3531, 91-22-5590 1770/71
Fax : 91 - 22 - 5590 3532
E-mail : polyrub@mantraonline.com
E-mail : polyrub@vsnl.net
MEGA RUBBER TECHNOLOGIES PVT.LTD.
Building No. 1,
Agarwal Udyog Nagar Waliv,
Vasai Road'(E)
District Thane - 401 208.
INDIA.
Tel: 91- 0250-454 365, 91- 0250-454 520
Fax: 91- 0250-454 519
E-mail : mega_rubber@vsnl.com
MOULD- DE-SUJAN
Unit no. 5
Waliv, Vasai Road(E)
District Thane-401 208.
INDIA.
Tel: 91- 0250-454 365, 91- 0250-454 520
Fax: 91- 0250-454 519
E-mail : mega_rubber@vsnl.com
VEE KAY RUBBER PRODUCTS
3, Mistry Industrial Complex
M. I. D. C. Cross Road A, Andheri (E)
Mumbai-400 093.
INDIA.
Tel : 91-22-2687 0360
Fax: 91-22-2687 0339
E-Mail : sujan@bom3.vsnl.net.in
TEE VEE TOOLS & ENGINEERING INDUSTRIES
89, Mistry Industrial Complex,
M.I.D.C, Cross Road , "A"
Andheri(E),
Mumbai - 400093.
Tel : 91-22-2687 0360
Fax : 91-22-2687 0339
E-Mail : sujan@bom3.vsnl.net.in
Products
Ř
Engine mounts
Ř
Silent Blocks. Dampers
Ř
Rubber Rolls
Ř
Boots/ Bellows
Ř
Dust Covers
Ř
Gaskets
Ř
Seals and O Rings
Ř Extrusions
Ř Fuel Tubes and Hoses
Ř Gen. Rubber Goods
Ř Ferrous and Non Ferrous Fastners
Associates
Sujan Group signifies a new power
in the rubber industry of the country, whose manufacturing operations started
in the early 60's. Currently the group consists of 7 separately located
facilities in Bombay & its suburbs.
1. Sujan Industries located at Andheri in Bombay is
involved in manufacturing rubber-moulded products for various end-users. The
major being Automobiles & Aerospace.
2. Veekay Rubber also located in the vicinity caters to the
compounding needs of Sujan. It also carries out Moulding operations of its own.
3. Polyrub Extrusions located at New Bombay fulfills the
groups need to supply extruded products to the various industries, the
speciality being twin & three layer hoses for fuel, radiator & other
automobiles hoses.
4. Speciality Elastomers provides the backup services to
Polyrub for compounding with its own Moulding shop.
5. Mega Rubber Technologies is the latest project of the
Groups wherein the many years experience acquired in the other units is put to
work, resulting in a well executed automated project with latest equipment like
injection moulding, auto weighing systems, auto batch off units, auto metal
treatment equipment, various end product testing equipments, lab equipments,
etc.
6. Tee Vee Tools caters to the fasteners requirements of
its subsidiaries and also to the electrical, container, engineering goods
manufacturers.
7. Mould De Sujan caters to the requirements of Moulds,
Jigs and Fixtures of the group and maintain the same.
Exports
Global Reach
"The need of expansion is as genuine an instinct in us as the
need in a plant for the light."
The Sujan management recognised the need for developing and
actioning an appropriate strategy for exports to compete successfully in the
global market. As an Expansion plan and in order to provide better, effective
and interoperatibility services to its global customers, Sujan has appointed
two Representatives with their Marketing offices in U.S.A., and also plans to
open such other marketing offices in other part of the Globe in near future.
Products inquiry from the nearby locations can be made from these
Marketing offices via e-mail, fax or by visiting their respective website.
Marketing offices in U.S.A :
Mr. Nirmal Kumar Phul
Tera Internationals
P.O. Box 656793,
Fresh Meadows, New York 11365,
U.S.A.
Tel : (718) 969-4370
Fax : (718) 591-7650
E-Mail : terainc@aol.com
Website : www.terainternationals.com
Mr. Charless Mohan
5450 Douglass Dr,N # 223,
Crystal,
MN 55421,
U.S.A.
Tel : (612) 971-0815
Fax : (612) 971-0836
E-Mail : mchatlani@hotmail.com
Sujan products had already made its mark in the domestic market
with clients like Maruti Udyog, Hindustan Motors, Larsen & Turbo, Telco,
Siemens India Ltd., etc.
The experience gained over the years had emboldened the group to
make forays into global markets. Today Sujan exports Engine Mounts, Bellows,
Hose Pipes, Silent Blocks, Valves, Small fastners and other miscellaneous
products to U.S.A, U.K, Australia, Italy, Germany, West Indies and the Gulf.
Company’s customers are among the leaders in auto, electric, aerospace,
earthmoving, office automation, etc.
Technology
Company’s Technical Progress
"Science and technology multiply around us. To an increasing
extent they dictate the languages in which they speak and think. Either company
uses those languages, or company remains mute. Company opt for the
former."
To streamline the entire production and marketing process, Sujan
has invested heavily in infrastructure. With years of experience in the areas
of rubber processing, the company's emphasis has all along been on state of the
art technology and its absorbtion through process engineering, application
engineering, continued product development and performance evaluation.
Sujan's manufacturing units are fine examples of application of
modern technological developments and symbols of the company's attitude and
aspirations. The Sujan Group has been able to develop more than 10,000 products
relating to over 150 applications. A number of applications have been in the
strategic sector.
The effort of the group has always been to be in the forefront
with strong emphasis on indigenisation. However, consulting help in rubber
technology and polymer science is sought from time to time to keep abreast of
the progress made the world over. Sujan's technical prowess has gone a long way
in helping the company go deep into the problems faced by its customers and
assist them to overcome major hurdles.
Endurance Testing Machine :
Electro-dynamic Vibration Shaker (Exciter), the heart of Vibration
Testing system, simulates the vibrations at the top of its platform and
transfers to the specimen mounted on its head or table.It basically consists of
a moving element termed as head, rigidly connected to Drive Coil (Armature),
which is positioned in d.c.mfed to the Drive Coil agnetic field created by D.C.
current in the Field (fixed) Coil. An AC Signal through Power Amplifier in the
magnetically energized field generates a force which is reflected in the
movement of shaker platform. This movement gets transfered to the specimen
mounted on the platform and assists in reliable and safe testing, kept bare
Total mass of moving element is minimum to achieve maximum acceleration.
The Shakers are designed for Bare- table acceleration of 65 'g'
and velocity of 1.77 mlsec. However higher acceleration and velocity levels can
also be achieved.
To restrict any cross-axial or rotational movement and to provide
high lateral stiffness, proper Suspension systems such as Laminate Flexures and
Rolling Struts are utilized. Further, for true vertical movement, a linear
bearing at centre position is provided to restrict any cross-axial motion.
Effective stray demagnetisation on top of Shaker head is ensured
by providing Magnetic Shield for small capacity shakers and Degaussing Coil for
the higher ones; Shaker rotation of 90 Deg. from its vertical axis is also
possible to enable vibration testing in all the three orientations.A Cooling
system is coupled to the Shaker for cooling of drive coil, field coil and
flexures. This ensures continuous duty/performance even under adverse operating
conditions. Reliability of Vibration Shaker is further enhanced as there are no
rolling parts to wear out. Axial resonance frequency is kept sufficiently high
to avoid self-resonance.
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 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
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.44.09 |
|
UK Pound |
1 |
Rs.86.59 |
|
Euro |
1 |
Rs.57.92 |
SCORE
& RATING EXPLANATIONS
|
SCORE
FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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 |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound
financial base with the strongest capability for timely payment of interest
and principal sums |
Unlimited |
|
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 |
|
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 |