MIRA
INFORM REPORT
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Report Date : |
30.10.2007 |
IDENTIFICATION
DETAILS
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Name : |
BIZ TEHCNOLOGY CONSULTANTS |
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Registered Office : |
808,809,810 Chiranjiv Tower 43, Nehru Place, New Delhi-110019 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1985 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Suppliers of critical steel components and systems for Steam/Gas and
Hydel turbines. |
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. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject appears to be an established concern but in absence of financial
details it would be difficult to access concern’s performance and financial
status. No payment are known. In absence of availability of financial details.
It would be appropriate to deal with the concern with slight caution. |
LOCATIONS
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Registered Office : |
808, 809, 810 Chiranjiv Tower 43, Nehru Place, New Delhi-110019, India |
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Tel. No.: |
91-11-26218993/ 26218944 |
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Fax No.: |
91-11-26219327 |
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E-Mail : |
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Website : |
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Area : |
1800 Sq. ft. |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr. Ravi Khanna |
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Designation : |
Proprietor |
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Date of Birth/Age : |
40 years |
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Qualification : |
B.E. |
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Experience : |
18 years |
BUSINESS DETAILS
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Line of Business : |
Suppliers of critical steel components and systems for Steam/ Gas and
Hydel turbines. |
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Products : |
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Terms : |
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Selling : |
Cash/ Credit |
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Purchasing : |
Cash/ Credit |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
12 |
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Bankers : |
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Banking
Relations : |
Unknown |
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Associates/Subsidiaries : |
Joint Venture: With Rotring Engineering GMBH, Germany well acknowledged
for its turnkey solutions on Power plant BOP packages for Fuel Gas/ Oil
handling systems. CIN: U40108DL2002PTC116364 Registered on: 29-07-2002 Authorized Capital: Rs.0.500 Millions Paid up Capital: Rs.0.500 Millions E-mail: rkhanna@rotring-india.com Website: www.rotring-india.com |
CAPITAL STRUCTURE
Not Available
FINANCIAL DATA
[all figures are in Rupees Millions]
Management of the concern remained non-cooperative during current
investigation.
They declined financial details.
LOCAL AGENCY
FURTHER INFORMATION
History
Subject is a multinational organization having Business partners from
all over the world covering notable Process Licensees for Petrochemical Plants
and Refineries / Critical Steel Forging & Casting manufacturers and
producers of special alloy Steels for Hi-temperature and stressed zones
application areas in Steam Turbine and Generators and other power sector
critical components. These business partners are world renowned suppliers of
suitable Process Chemicals/ Catalysts and other specialty chemicals for wide
Hi-Tech application areas in Electrical industry and state of the art
electronic circuitry, to name a few.
Other business interests of the group are met through their varied
Business associates’ conventional Engineering products like – Valves,
Centrifugal / Rotary and Screw Pumps, Hi efficiency air filters and evaporative
cooling systems for Gas Turbine efficiency enhancement and BOP equipments for
Thermal Power Plants.
Subject has another sister company namely Rotring Engineering
India Private. Limited. which is a joint venture Project Management &
Engineering Organization with its Head office at Buxtehude Germany. They are
actively involved in execution of turnkey Packages for Fuel Gas & Oil
handling systems under BOP packages being awarded by major world renowned Power
plant OEMs like GE / Siemens / Alstom / ABB / Mitsubishi/ Toshiba and BHEL etc.
They have patented Designs for their Hi-Tech filtration products
finding applications in Power plant Turbo Machinery critical systems like
Governing systems etc. and have a strong base in the Indian Power sector
through their product range for various Supper Thermal Power Plants in the
Central & State Sector alike.
A strong Marketing and HRD base with its team of specialist
Engineers are capable of providing efficient and most economical solutions for
fuel conversion schemes for Power plants operating presently on Liquid fuel to
Gaseous Fuel. Wet cleaning of Gas turbines & Compressors is another
critical area where the group is established & well known for its services.
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.39.51 |
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UK Pound |
1 |
Rs.81.16 |
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Euro |
1 |
Rs.56.76 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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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38 |
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. |
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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