MIRA
INFORM REPORT
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Report Date : |
28.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
J D STEEL CORPORATION |
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Registered Office : |
401/A Vertex Vikas, M.V Road, Andheri
(East), Mumbai 400 069, Maharashtra |
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Country : |
India |
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Date of Incorporation : |
1987 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEJ04770D / MUMJ03444A /
MUMJ00344B |
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PAN No.: [Permanent
Account No.] |
ACYPD2397P / AAAFJ4987H / AAAFJ4987H |
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Legal Form : |
Partnership concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer and Distributors of Cold Rolled Steel Strips / Galvanize Steel
Strips, HR Slit Coils, Colour Coaled Slit Coils, Copper Coated Steel Strips ,
Nickel Plated Material and Strapping Steel. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Despite of our continuous efforts, no concrete information could be
available for the concern from primary, secondary and direct approaches. Management of the concern remained non-co-operative during current
investigation. In view of the aforesaid, it would be advisable to deal with the
concern on fully safe and secured trade terms and conditions, initially. |
LOCATIONS
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Registered Office / Administrative Office: |
401/A Vertex
Vikas, M.V Road, Andheri (East), Mumbai 400 069, Maharashtra, India |
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Tel. No.: |
91-22-26837310 / 26820282 |
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Mobile No.: |
91-9322544481 |
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Fax No.: |
91-22-26832819 |
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E-Mail : |
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Website : |
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Area : |
300 Sq.fts |
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Location : |
Owned |
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Factory : |
Taloja |
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Location : |
Rented |
PARTNERS
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Name : |
Mr. Mehul Doshi |
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Designation : |
Partner |
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Name : |
Mr. Dhanesh Doshi |
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Designation : |
Partner |
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Name : |
Mr. Jitendra Doshi |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Distributors of Cold Rolled Steel Strips / Galvanize Steel
Strips, HR Slit Coils, Colour Coaled Slit Coils, Copper Coated Steel Strips ,
Nickel Plated Material and Strapping Steel. |
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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 : |
Wholesalers and End Users |
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No. of Employees : |
4 |
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Bankers : |
Not Divulged |
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Banking
Relations : |
Unknown |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Not Divulged
FINANCIAL DATA
[all figures are in Rupees Millions]
Not Divulged
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE
DETAILS;
Concern
Profile
The concern was established in 1987 by Mr.
Dhanesh Doshi and Jitendra Doshi. With constant effort and dedication it has grown into one of the
finest and most reliable concern.
Units located in Taloja and Mumbai (Maharashtra) are specially prepared for handling and Storing strips coils. Equipped with high
precision machines which are run by dedicated skilled workers. With testing lab
built in house, has facilitated in constant checking of material at every
stage, ensuring the quality.
The concern also has a social
responsibilities which are aimed in welfare of the workers
and other people engaged with the concern and It believes in constant growth along with the concern.
Always emphasizing on improvement of quality and always improving the planning method in all
areas to deliver the product with in the shortage possible period of time with
the finest quality.
It is because of the team work at
the concern which has made it possible to be able to remove the minimum order
quantity obligation and accept and execute the material in time.
Quality Policy:-
Process plant
· Cold rolled steel coils (Mild Steel)
· Hot Dip Galvanise (HDG) / Electro Galvanize / Galvanneal
· HR slit coils
· Colour Coated slit coils
· Copper Coated Steel Strips
· Nickel Plated Material
· Strapping steel
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 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.40.18 |
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UK Pound |
1 |
Rs.79.25 |
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Euro |
1 |
Rs.62.90 |
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 |
---- |
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OPERATING SCALE |
1~10 |
---- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
---- |
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--PROFITABILIRY |
1~10 |
---- |
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--LIQUIDITY |
1~10 |
---- |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
---- |
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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 |
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 |
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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14 |
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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