MIRA
INFORM REPORT
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Report Date : |
22.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
GRM RECYCLING AND MERCHANDISING PRIVATE LIMITED |
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Registered Office : |
C/O Mrs Annie Anthony, C/6350 Juhu Chhaya, New D N Nagar, Andheri
(West), Mumbai – 400 058, Maharashtra |
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Country : |
India |
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Date of Incorporation : |
30.04.2004 |
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Com. Reg. No.: |
146009 |
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CIN No.: [Company
Identification No.] |
U28999MH2004PTC146009 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMG09263C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Exporter for Scrap and Importer of Lifestyle Goods. |
RATING &
COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Poor |
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Payment Behaviour : |
Slow |
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Comments : |
Subject is a 4 years old company but has not filed any financials with
the Government departments till date. As per Government Registry, it says
that the company is “Under the process of striking off”. However Mr. Kalyan
Srinivas claims that the company is very much operative, though he confirmed
that the company is incurring huge losses. Payments are reported as slow and
delayed. The company can be considered for any business dealings on fully safe
and secured trade terms and conditions, only. |
INFORMATION PARTED
BY
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Name : |
Mr. Padmaya |
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Designation : |
Accounts Executive |
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Date : |
21.08.2008 |
LOCATIONS
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Registered Office : |
C/O Mrs Annie Anthony, C/6350 Juhu Chhaya, New D N Nagar, Andheri
(West), Mumbai – 400 058, Maharashtra, India |
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E-Mail : |
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Website : |
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Corporate Office : |
702, Devavrata, Sector 17, Vashi, Navi Mumbai – 400 705, Maharashtra,
India |
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Tel. No.: |
91-22-67914094 / 67914095 / 66733800 |
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Mobile No.: |
91-9820188149 |
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Fax No.: |
91-22-67914096 |
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Location : |
Rented |
DIRECTORS
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Name : |
Mrs. Annie Anthony |
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Designation : |
Director |
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Name : |
Mr. Kalyan Shrinivas |
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Designation : |
Director |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 27.04.2004)
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Names of Shareholders |
No. of Shares |
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Annie Anthony |
9990 |
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Kalyan Shrinivas |
10 |
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Total |
10000 |
BUSINESS DETAILS
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Line of Business : |
Exporter for Scrap and Importer of Lifestyle Goods. |
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Exports : |
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Countries : |
China |
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Imports : |
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Countries : |
·
Germany ·
China ·
Singapore |
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Terms : |
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Selling : |
Cash and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Credit (30 days / 60 days / 90 days) |
GENERAL
INFORMATION
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Customers : |
·
Wholesalers ·
Retailers ·
End Users |
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No. of Employees : |
5 |
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Bankers : |
ICICI Bank, Vashi |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Vijay Patil and Company Chartered Accountants |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
Not Available
LOCAL AGENCY
FURTHER INFORMATION
Trade References
·
Spencer Departmental Stores
·
USB Limited
·
Philips India
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.43.58 |
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UK Pound |
1 |
Rs.81.43 |
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Euro |
1 |
Rs.64.52 |
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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