MIRA
INFORM REPORT
|
Report Date : |
27.11.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SATYAM FORGINGS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Talwara Road, Mandi Gobindgarh, District Fatehgarh Sahib, Gobindgarh –
147301, Punjab |
|
|
|
|
Country : |
India |
|
|
|
|
Date of Incorporation : |
13.07.2005 |
|
|
|
|
Com. Reg. No.: |
028669 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U27100PB2005PTC028669 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PTLS16230E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAJCS3482J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of wide range of products |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is just 2 years old company and repored to be doing average
business of Rs.40.000 Millions annually. Trade relations are fair. No payment
are available. No financials are available
from any sources. Initially, It can be considered for small to
mediocre business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
Talwara Road, Mandi Gobindgarh, District Fatehgarh Sahib, Gobindgarh –
147301, Punjab |
|
Tel. No.: |
91-1765-255744 |
|
Fax No.: |
91-1765-242744 |
DIRECTORS
|
Name : |
Mr. Shakti Kumar |
|
Designation : |
Director |
|
Address : |
10/385, Vasant Vihar, Raiway Road, Malerkotla – 148023 |
|
|
|
|
Name : |
Mr. Lalit Kumar |
|
Designation : |
Director |
|
Address : |
10/385, Vasant Vihar, Raiway Road, Malerkotla – 148023 |
|
|
|
|
Name : |
Mr. Dinesh Kumar |
|
Designation : |
Director |
|
Address : |
139/B, Inside Cotton Mill, Raiway Road, Malerkotla – 148023 |
|
|
|
|
Name : |
Mr. Mohendra Singh |
|
Designation : |
Director |
|
Address : |
Preet Nagar, Near Jain School, Mandi Gobind Garh - 147301 |
|
|
|
|
Name : |
Mr. Rajendra Singh |
|
Designation : |
Director |
|
Address : |
W. N. 16, NearGurudwara Sehib, Mandi Gobind Garh – 147301 |
|
|
|
|
Name: |
Mr. Kesarpal Singh |
|
Designation : |
Director |
|
Address: |
Street Lala Lajja Ram , Raiway Road, Mandi Gobind Garh - 147301 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of wide range of products |
|
|
|
|
Products : |
Roller Flour Mills Mill Stands (Housing)
Other Related Products
Applications of Our Products
|
|
|
|
|
Exports : |
|
|
Products : |
Worldwide |
GENERAL
INFORMATION
|
No. of Employees : |
60 |
|
|
|
|
Bankers : |
Oriental Bank of Commerce, Punjab |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
350000 |
Equity shares |
Rs.10/- each |
Rs.3.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
120000 |
Equity shares |
Rs.10/- each |
Rs.1.200
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
No financials are available
since incorporation of the company. Management remained non – corporative
during correct investigation.
LOCAL AGENCY
FURTHER INFORMATION
Website
details
Forging is the primary art of shaping metals by the process
of plastic deformation. Cold forging is done at low temperatures, whereas the
most commonly practiced forging is at high temperatures, which enables the
metal to be shaped and less likely to be fractured. Forging process gives us
metals, that are stronger and more durable than cast or machined metal parts.
At, Subject, they provide their
customers with only 'A-grade' products, since their inception in the year 2005.
Though we have remained active in the industry merely for the past two years,
yet they have been successful in developing a strong foothold in the existent
competitive market scenario. Their firm is recognized as a promising manufacturer and exporter of a wide
range of products including, Flour
Mill Machinery and Accessories, Rolling Mill Machinery, Ball and Roller
Bearings / Bushes and other related products. These products have
wide applications in machines used in the paper mills, food processing industry, textile industry, wire rod
mills, etc.
Their customers form the fulcrum of their existence, and they take
all the necessary steps to maintain cordial relations with them. A sales volume
of Rs. 100.000 Millions is a testimony to the demands of our products not only
in the sub-continent, rather, all over the world. 30% of their produce is
exported to a number of countries of the world. With sheer dedication
and hard work, they have scaled heights of success, in a very short span of
time. Their organization aims to put up with this consistent performance and
never gives the valued clients a chance to complain.
Product Range
Subject is a reputed manufacturer and exporter of a wide
range of products including:
- Flour Mill Machinery & Accessories
Roller Flour Mills
Mill Stands (Housing)
- Rolling Mill Machinery
- Ball & Roller Bearings / Bushes
- Gear Boxes, Reduction Gears & Gear Cutting
- Forged Products & Equipment
Forged Rolls. etc.
Other Related Products
- Crank and Round Shafts
- Gear Blanks
- All Types of Steel Alloys
- Steel Forgings
- Reduction Gears.
Applications of their Products
These products have varied applications in a number of
machines employed in various industries like:
- Rolling Mills
- Solvents Plants Mills
- Wire Rod Mills
- Flour Mills
- Food Processing Machineries
- Rubber Mixing Plants
- Hydraulic Processors
- Soap and Detergent Mills
- Paper Mills
- Textile Industries.
Quality
Quality is the hallmark at Subject it is something that never witnesses any sort
of compromise. Stringent quality checks are employed at all levels, right from
the stage of production till the goods are dispatched for sale to the market. A
team of quality inspectors supervises the entire processes, thereby resulting
in error free products. The company houses an inbuilt laboratory, where all the
quality checks are carried out. They are also outfitted with machines to test
the hardness of the finished products. International quality standards are
conformed at all the levels, to make sure that only the best reaches our
buyers.
Infrastructure
Subject is the proud owner of a robust and well equipped infrastructure. The
company houses all state of the art machinery, which is extremely cost
effective and enables the company to offer its products at the most competitive
prices in the industry. Their team of designers and engineers are the best in
the industry, and have immense expertise in their respective fields. A
dexterous research and development force keeps track of the latest technological
advancements in the industry, incorporating changes wherever and whenever the
need arises. Their warehouse facilitates in the storage of large quantities of
the produce, to meet bulk orders within a stipulated period of time.
Form 8
|
Corporate identity
number (CIN) Foreign company registration number |
U27100PB2005PTC028669 |
|
Name of the
Company |
SATYAM FORGINGS PRIVATE LIMITED |
|
Address |
Talwara Road, Mandi Gobindgarh, District Fatehgarh Sahib, Gobindgarh –
147301, Punjab, India |
|
This form is for |
Modification of
charge |
|
Type of Charge |
·
Immovable
property ·
Book debts ·
Movable
property (not being pledge) ·
Others |
|
Particulars of
the charge holder |
Oriental Bank of Commerce Motia Khan, Mandi Gobindgarh – 147301, Punjab, India |
|
Nature or
description of the instrument(s) creating or modifying the charge |
|
|
Date of the
instrument creating or modifying the charge |
29.05.2007 |
|
Amount secured by
the charge |
Rs.5.000 Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
|
|
Short particulars
of the property charged (including location of the property) |
Hypothecation of
stocks of raw material, Work inprogress, Finished goods, Equitable mortgage
of factory land and building situated at Talwara Road, Mandi Gobindgarh |
|
Particular of the
present modification |
Cash Credit Limit
enhanced from Rs.300.000 Millions to Rs.500.000 Millions |
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.68 |
|
UK Pound |
1 |
Rs.81.95 |
|
Euro |
1 |
Rs.58.79 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
TOTAL |
|
32 |
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
|
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. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|