MIRA
INFORM REPORT
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Report Date : |
17.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
G S BODY BUILDERS PRIVATE LIMITED |
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Registered Office : |
No. 72/1, Veterinary Hospital Road, Nandanam, Chennai – 600035,
Tamilnadu |
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Country : |
India |
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Financials (as on) : |
-- |
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Date of Incorporation : |
08.11.2004 |
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Com. Reg. No.: |
18-54622 |
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CIN No.: [Company
Identification No.] |
U34201TN2004PTC054622 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
The company is engaged in the job of body building for truck chassis. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Satisfactory |
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Comments : |
Subject is a
well-established and reputed company having satisfactory track. Directors are
reported as experienced and respectable businessmen. Trade relations are
reported as fair. Business is active. Payments are usually correct and as per
commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
No. 72/1, Veterinary Hospital Road, Nandanam, Chennai – 600035,
Tamilnadu, India |
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Tel. No.: |
91-44-24353499 |
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Fax No.: |
91-44-24353499 |
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E-Mail : |
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Factory 1 : |
No. 7, Pazhamathur Village, G.S.T. Road, Venpakkam Post,
Madhurandhagam Taluk, Kanchipuram – 603111 |
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Tel. No.: |
91-44-27565187 / 27565850 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. K Kannan Subramani |
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Designation : |
Director |
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Address : |
Kaveri Nagar, Saidapet, Chennai – 600015 |
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Name : |
Mr. S Saravanan |
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Designation : |
Director |
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Name : |
Mr. S. Govindammal |
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Designation : |
Director |
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Name : |
Mr. S Senthil Kumar |
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Designation : |
Director |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Mr. K Kannan Subramani |
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10000 |
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Mr. S Saravanan |
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10000 |
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Total |
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20000 |
BUSINESS DETAILS
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Line of Business : |
The company is engaged in the job of body building for truck chassis. |
GENERAL INFORMATION
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Bankers : |
Indian Bank 1 Abdul Razaack Street, Saidapet, Chennai – 600015 |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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20000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.200
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
Not Available
LOCAL AGENCY
FURTHER INFORMATION
Their factory is situated very near to Chennai around 40 kms in
Madduranthagam Taluk. They have totally 4 shops in their factory
Ø
Structural Shop
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Painting Shop
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Paneling Shop
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Final Assembly Shop
The company has taken over existing
partnership firm G S Body Builders with all its assets and liabilities intact
on 08.11.2004
The firm G S Body Builders was established in
1997 with the clear aim of contributing their share in the transport customer’s
needs. They started by undertaking manufacture of sturdy and though bodies of
any kind as per the customer’s specification for buses, trucks and large
vehicles. The firm was manufacturing over 50 bodies of per month.
Mr. K Subramani one of the directors of the
company now, has about 40 years experience in the automobile filed. He
specializes in the field of body – building for buses / trucks and other large
vehicles. In 1997 he saw the opportunity in this filed of body – building and
set up his own firm.
By developing machineries and skilled
workmanship he is trying to achieve the goal of making quality products for the
customer. He has developed various quality techniques that greatly improves
both the look and the performance of body they build.
Many a times it is the customer that gives
them the drawing for the body as per their requirement. They have a
full-fledged pre treatment plant and inspection facilities for the super
structures built by them.
They have their own CAD department to develop
drawing and stage wise inspection procedures for the process and products.
The company is registered with SSI, NSIC, DGS
& D – Government of India and DGQA [Defence]
They have quality Management system ISO 9001-2001
certification.
The firm in 2004 registered themselves with
the ROC Chennai as G S Body Builders Private Limited.
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.44.17 |
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UK Pound |
1 |
Rs.85.58 |
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Euro |
1 |
Rs.58.67 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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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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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
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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