MIRA
INFORM REPORT
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Report Date : |
01.10.2007 |
IDENTIFICATION DETAILS
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Name : |
KHAN MACHINES |
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Registered Office : |
No. C – 13, Muggapair Industrial Estate, Muggapair, Chennai – 600 037,
Tamil Nadu |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1986 |
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Legal Form : |
Sole Proprietory Concern. |
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Line of Business : |
Importer of special machines like Grinding, Radial, Drilling, Milling Gear,
CNC, and Modern Numerical control Machines, Sheet Metal Machines. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed concern having satisfactory
track. Proprietor is reported as experienced and respectable businessman.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office/Factory : |
No. C – 13, Muggapair Industrial Estate, Muggapair, Chennai – 600 037,
Tamil Nadu, |
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Tel. No.: |
91-44-26564330 |
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Mobile No.: |
91-9841050531 |
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E-Mail : |
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Website : |
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Area : |
3600 sq.fts. |
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Location : |
Owned |
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Corporate
Office: |
Plot No. 1492, |
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Tel. No.: |
91-44-26564330 / 55477215 |
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Mobile No.: |
91-9841050531 |
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Tele Fax No: |
91-44-26560228 |
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E-Mail : |
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Website : |
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Works / Warehouse: |
65/1, Plot No.22, Estate, SIDCO, Chennai – 600 098, Tamil Nadu, |
SOLE PROPRIETOR
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Name : |
Mr. Sherfuddeen Khan |
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Designation : |
Proprietor |
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Address : |
Plot No. 1492, |
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Date of Birth/Age : |
45 Years |
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Qualification : |
Graduation, B.Sc Physics |
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Experience : |
18 Years |
BUSINESS DETAILS
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Line of Business : |
Importer of special machines like Grinding, Radial, Drilling, Milling
Gear, CNC, and Modern Numerical control Machines, Sheet Metal Machines. |
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Imports : |
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Products : |
Industrial Machines |
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Countries : |
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Terms : |
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Selling : |
Cash, Despatch of Machinery |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Customers : |
Selling of used machinery and imported machinery throughout Indian
Small Scale Industries. |
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No. of Employees : |
8 : (2 in Office and 6 and in Factory) |
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Bankers : |
Union Bank of Address: T S Krishna Branch, Mugappair, Chennai – 600 037, Tamil Nadu,
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Praveen Associates Chartered Accountants |
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Address : |
Luz, Mylapore, Chennai – 600 004 |
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Tel. No.: |
91-44-24642246 |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
NA |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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10.400 |
9.000 |
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Profit/Loss for the year |
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25% of Total
Turnover |
25% of Total
Turnover |
LOCAL AGENCY FURTHER INFORMATION
Trade Reference:
·
Lakshmi Machine Works,
· Rane Madras India Limited, Chennai
·
Small Scale Industries in
Other information:
· Name Board: Sighted
· Land Mark: Near to the Mugappair Bus Stand @ Collector Nagar in Chennai
· Office appearance: Fair
· Factory Area: The Factory is situated at Industrial Area at Mugappair (Near to Ambattur Industrial Estate, Chennai)
· Location is located At: Industrial Area
· Area of Factory : Up Market
WEBSITES DETAILS:
Khan Machines was
started 20 years ago with great objectives in mind by providing prompt services
to the clients. Khan Machines has established contacts all over
Services What they can offer you
This company has
vast experience in buying and selling of Indian and Imported machineries with
huge clientele list. They can server consultancy, help in buying and locating
machines according to Job orders on Turn Key basis.
A hundred times
every day I remind myself that my inner and outer life depend on the labors of
other men, living and dead, and that I must exert myself in order to give in
the same measure as I have received and am still receiving - Albert Einstein.
From humble
beginnings to global enterprise, the success of Khan Machines has been fueled
by the vision of its founder and Proprietor - Mr.Khan, a commitment to provide
a source for quality pre-owned machinery at reasonable prices. Starting from a
ONE room office in 1986, Khan Machines has guided the Indian market in
importing and selling used machinery with over 20 years of experience.
Despite all changes
and growth at Khan Machines, many things remain the same at the insistence of
Mr.Khan "They take the attitude of doing it right. One thing that has made
they successful is the close relationship they've built with customers. If
there's a problem, they know they'll help." A good transaction always has
two winners. It does not matter whether they are buying machines or selling
machines.
With the experience
of a small scale industries doing machining of precision components to the
reputed customers the idea along with the experience went on further to larger
scale, which took shape as ‘Khan Machine’, established in 1987 under the
proprietorship of Mr.Khan.
Khan Machine is basically a dealer in used machines importing quality machine
tools; conventional and CNC machines; at cost effective prizing to suit Indian
market. These machines are been sold from stock and in case of unavailability
of stock they try to locate for the same on nominal charge for customers’ sake.
They import machines from Europe and other countries, sometimes they purchase
locally from
They deal in all used machine tools from small lathe to big floor boring or VTL
machines conventional as well as CNC. Their range of machines varies from all
metal working machines such as turning lathes, vertical turret lathes,
Horizontal boring machines, milling machines, gear machines, CNC turning
centers vertical machining, centers grinders, surface grinders, cylindrical
grinders, gear grinders, tool and cutter grinders, boring machines –
(horizontal boring machines, vertical boring machines, jig boring machines,
co-ordinate boring machines). Other machines are like sheet metal working
machines, power presses, all capacities of deep drawing presses, fine blanking
presses, shearing machine press brakes, plastic injection moulding machines
etc.
To manage this huge infrastructure of Khan Machines they have got good team of
experienced engineers for both conventional and CNC machines. Their technicians
are utilized for mechanical and electronics skills.
Coming to their esteemed customers they vary from small entrepreneur who is
starting a new venture to big multinational company. They guide them to choose
the right machines at the best competitive prise. Their customers in turn are
mostly suppliers to automobile industries, farm equipments, heavy fabrication,
heavy machining tools, room based units, precision die, mould markets etc.
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 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.39.73 |
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1 |
Rs.81.37 |
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Euro |
1 |
Rs.56.63 |
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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