MIRA
INFORM REPORT
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Report Date : |
05.07.2007 |
IDENTIFICATION DETAILS
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Name : |
GOLDEN PLASTIC |
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Registered Office : |
B/64, Karnavati Estate, Near Trikampura Patiya, Phase – 3, GIDC Vatva,
Ahmedabad, |
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Country : |
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Date of Incorporation : |
Around 1985 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Plastic Industrial Valves. |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Undetermined |
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Comments : |
Subject was an established concern but this time no contact was possible
as telephone and e-mail address given on the web are inactive. We continue to put our efforts for more details and in the meantime,
fully safe and secured business dealings are only recommended. |
LOCATIONS
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Registered Office/ Factory : |
B/64, Karnavati Estate, Near Trikampura Patiya, Phase – 3, GIDC Vatva,
Ahmedabad, |
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Tel. No.: |
91-179-5896430 |
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E-Mail : |
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Area : |
600 Sq.ft. (Owned) |
SOLE PROPRIETOR
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Name : |
Mr. Girish Patel Kalyanbhai |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Plastic Industrial Valves. |
GENERAL INFORMATION
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Customers : |
Wholesalers and End users |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Financials :
Consulted market sources are unaware about the subject’s operations.
LOCAL AGENCY FURTHER INFORMATION
Website Details :
With over 20 years of tireless effort and excellence in the manufacturing
of world class plastic products across the globe. Subject make commitment to
the industry professionals in
A common vision to satisfy the needs of customers worldwide motivates the
skilled professionals at Subject to make new ideas work and to develop
innovative products.
Subject customers get complete back-up support and the confidence of
Subject Quality assurance.
Profile
Subject has been started by Shri Girishbhai Patel, whose inspiring force was his visualization and wealthy knowledge of the field of plastic industrial Valves . With a immense education of production & plastic technologies he establish the firm, and today this company is one of the leading company in manufacturing of branded plastic industrial valves, with its standard quality and technical prop up now they are in focus all over the world. These products are excellent and of marvelous feature and orientation by all means.
It was the initial of the brilliant prospect for the company when the company
got the credit for rising the products range with different varieties,
requirements and according to the province of the nation, and the company’s
annual growth rate raised to 70%,and by this way their graph of advancement
started rising.
With the successful participation of efficient and hardworking professionals
they started growing quickly with their spirit and potency. At current the
company has entirely been focused and stressed in developing global markets by
making tie-ups, collaborations and universal partnership which would focus them
distinctively in future.
Management :
Company’s Vision
The company has always been maintaining a leading light for the upcoming
period. Company’s key focus is fully on the expansion of technological support
and worth products for the worldwide markets. Company’s aim is to achieve the
goal of the nation and by taking the country to one of the most subsidized and
industrialized zone in the 21st century. The company is also maintaining a
total quality management.
Marketing,
Distribution Network :
Marketing policies and strategies are also conducted from time to time. Company maintains its own individuality in the division of marketing. Excellent, skilled and talented workforce have a regular visit to provide guidance and dynamic demonstration programs to the customers.
Export :
Customers and export inquires are generated from various parts of the world for supply of different plastic industrial valves and branded plastic products. Currently the international market circumstances are being assessed and the strategy is reorganized to suite the demands of the global requirement.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.49 |
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1 |
Rs.81.77 |
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Euro |
1 |
Rs.55.18 |
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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