MIRA
INFORM REPORT
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Report Date : |
05.10.2007 |
IDENTIFICATION DETAILS
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Name : |
TEADIT PACKING AND GASKETS PRIVATE LIMITED |
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Registered Office : |
18, Radha Teli Galli, Andheri (East), Mumbai – 400 069, |
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Country : |
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Date of Incorporation : |
08.08.2007 |
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Com. Reg. No.: |
172971 |
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CIN No.: [Company
Identification No.] |
U28113MH2007FTC172971 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Distributor of Expanded PTFE Products, Braided
Packings, Gaskets, Accessories, Gasket Sheets, Jampak Injectable packing. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
---- |
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Status : |
New company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a new company promoted by Teadit worldwide itself. It is
yet to establish itself in In view of the strong promoter it can be considered for small to
mediocre business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
18, Radha Teli Galli, Andheri (East), Mumbai – 400 069, |
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Tel. No.: |
91-22-2682 2585 / 3348 / 3356 / 2683 8446 / 2683 1250 / 2683 8446 |
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Fax No.: |
91-22-2682 2556 |
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E-Mail : |
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Website : |
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Branch: |
TEADIT® International
Produktions GmbH TEADIT® Italia S.p.A. TEADIT® - North America,
Inc. TEADIT® Ind. e. Com.
Ltda. TEADIT® Juntas TEADIT® - TEADIT® Shanghai Sealing Materials
Company Ltd. Tel mobile: +86/138/18234556 E-Mail: hguo@teadit.com.cn URL: www.teadit.com.cn |
DIRECTORS
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Name : |
Mr. Rangan Narayanan Srinivas |
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Designation : |
Director |
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Address : |
201, Smit Plot No.99, |
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Date of Birth/Age : |
12.04.1951 |
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Name : |
Mr. Michael Werner |
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Designation : |
Nominee Director |
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Address : |
Rosenheimerstr. 10, Kufstein - 6330 |
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Date of Birth/Age : |
05.07.1948 |
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Name : |
Mr. Sanjiv Gajakumar Gandhi |
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Designation : |
Director |
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Address : |
70 |
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Date of Birth/Age : |
21.09.1958 |
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Name : |
Mr. Peter Pischler |
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Designation : |
Director |
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Address : |
Dorfstrasse –22, Kirchdorf in |
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Date of Birth/Age : |
05.06.1946 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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Percentage of
Holding |
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TEADIT |
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55% |
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Mr. Narayanan Srinivas as a
Rangan |
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15% |
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Mr. Nitin shah |
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15% |
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Mr. Sanjiv Gajakumar Gandhi |
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15% |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Expanded PTFE Products, Braided Packings, Gaskets,
Accessories, Gasket Sheets, Jampak Injectable packing. |
GENERAL INFORMATION
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Bankers: |
Not Available |
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Banking
Relations : |
---- |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity shares |
Rs. 10/- each |
Rs. 30.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity shares |
Rs. 10/-
each |
Rs.20.000
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions
New company
LOCAL AGENCY FURTHER INFORMATION
WEBSITES DETAILS:
Quality:
Their high demands for
the quality of products, cost effective manufacturing procedures, innovative
product developments and an efficient and competent customer service are
guaranteed by their strict quality management and continuous improvements.
Their group-wide ISO
9001 certification confirms their quality guarantees.TEADIT International has
been issued with the ISO 14001 certificate.
Product Overview:
Monoaxially and
multidirectionally expanded pure PTFE tapes, multidirectionally expanded
pure PTFE sheets, restructured, filled PTFE sheets
Braided packings for
a wide range of applications, made from all modern fibers: graphite and carbon,
pure flexible mineral graphite, ePTFE, Aramid, glass, and many hybrids from a
blend of all those materials
Their range of fiber
sheets, graphite sheets with and without metal inserts, pure and filled
expanded PTFE sheets
Their comprehensive
range of cut gaskets - with and without metal eyelets, PTFE envelope gaskets,
spiral-wound gaskets, kammprofile gaskets, made to the specifications
Shaft sealing system
which can drastically reduce down-time by re-injecting Jampak sealing compound
while the pumping equipment is in operation. Saves water and energy,
extends maintenace intervals...
Packing cutters in
two different lengths, circular gaskets cutters, packing extractors, Jampak
packing accessories
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.39.43 |
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1 |
Rs.80.44 |
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Euro |
1 |
Rs.55.66 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
-- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
YES |
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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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26 |
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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