MIRA
INFORM REPORT
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Report Date : |
03.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
AASRAA METALFORMS PRIVATE LIMITED |
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Registered Office : |
7, Meenakshi Chamber, Ground Floor, Goddev Road, Bhayander (East),
Thane – 401 105, Maharashtra |
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Country : |
India |
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Date of Incorporation : |
16.03.2006 |
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Com. Reg. No.: |
160536 |
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CIN No.: [Company
Identification No.] |
U27310MH2006PTC160536 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEA09624G |
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PAN No.: [Permanent
Account No.] |
AAFCA6485M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Sheet Metal Components wire form and
precision machine parts. |
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 : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a 2 years old company but has not filed any financials with
the Government departments till date. The management parted general details
but declined to part with financials. No further details or payment could be made available. The company can be considered for business dealings on safe and
secured terms initially. |
INFORMATION PARTED
BY (GENERAL DETAILS)
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Name : |
Mr. Shaikh Salahuddin |
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Designation : |
Managing Director |
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Date : |
02.12.2008 |
LOCATIONS
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Registered Office : |
7, Meenakshi Chamber, Ground Floor, Goddev Road, Bhayander (East),
Thane – 401 105, Maharashtra, India |
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Tel. No.: |
91-22-28191644 / 28192604 / 65777180 |
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Fax No.: |
91-22-28188216 |
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E-Mail : |
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Website : |
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Area : |
600 Sq. ft. |
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Location : |
Owned |
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Factory : |
Plot No. H3/3, MIDC, Ambad-Nashik – 422 010, Maharashtra, India |
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Area : |
10000 Sq. ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Salahuddin A Shaikh |
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Designation : |
Managing Director |
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Address : |
Flat No. 602, B Wing, Satyam Evershine Enclave, Mira Road (East),
Thane – 401 107, Maharashtra, India |
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Date of Birth/Age : |
15.10.1975 |
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Qualification : |
D.E.T.E. |
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Date of Appointment : |
16.03.2006 |
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Name : |
Mr. Abdul Masjid S Shaikh |
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Designation : |
Director |
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Address : |
Flat No. 602, B Wing, Satyam Evershine Enclave, Mira Road (East),
Thane – 401 107, Maharashtra, India |
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Date of Birth/Age : |
01.08.1950 |
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Qualification : |
H.S.C. |
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Date of Appointment : |
16.03.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 07.03.2006)
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Names of Shareholders |
No. of Shares |
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Abdul Majid |
25000 |
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Shaikh Salahuddin |
25000 |
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Total |
50000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Sheet Metal Components wire form and
precision machine parts. |
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Products : |
·
Spring Dowel Pins ·
External Circlips ·
Internal Circlips ·
E Type Circlips ·
Disc Spring Washers ·
Spring Washers ·
Other Quality Products o
Bearing Wave Washer o
Fan Disc Washer o
Spiral Dowel o
Star Washer o
Shims o
Snap Rings o
Push On Fix Ring o
Any Kind Of Sheet Metal Components o
Wire Forms o
Precision Machined Parts o
Any Other Components As Per Party's Specification |
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Exports : |
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Products : |
Sheet Metal Components wire form, Machine parts |
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Countries : |
Middle East Countries |
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Terms : |
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Selling : |
L/C and Credit (Less than 30 days) |
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Purchasing : |
Credit (Less than 30 days) |
GENERAL
INFORMATION
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Customers : |
·
Wholesalers ·
Manufacturer |
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No. of Employees : |
35 (In Office 5 and In Factory 30) |
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Bankers : |
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Syndicate Bank, Bhayander ·
Bank of India, C.P. Tank |
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Facilities : |
No Facility |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Ruchir Joshi and Associates Chartered Accountants |
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Address : |
Dahisar |
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Associates/Subsidiaries : |
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M S Engineering Company, Bhayander (East) Line
of Business : Steel Metal Components ·
S S Industries, Malad (West), Malvani Line
of Business : Wire Form ·
Mack Lock, Bhayander (East) Line
of Business : Machine Parts |
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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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
Not Available
LOCAL AGENCY
FURTHER INFORMATION
Trade References
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C G Lusy Switchgear Limited, Nashik
·
Kirloskar Brothers Limited
Web Details
Profile
The company is the shoot of M. S. Group of Companies, who are pioneers in
manufacturing of Sheet Metal and Wire form components. They relish being the
Leader for more Twenty five years.
The products manufactured by them may be diminutive, but they are essential for
the smooth and efficient running of the mechanism. Each product is been
manufactured with prudence and the quality norms the company strives to excel.
The manufacturing unit is been set up at Nashik, The workshop is well equipped
with modern machinery's in order to manufacure any type of Sheet Metal
Components, Wire Forms and Precision Machined Parts. At the end, they have
engineers, who have thirst for innovation, they implement novel ideas every now
and then for cost control, and supplements quality up-gradatrion. The
improvement in quality and cost control is forwarded to the customers, which
makes the product more attractive.
The unit is well equipped with most recent instruments and equipments for
quality evaluation. Experienced engineers inspect all the products before
dispatch to ensure that the party gets best of the quality. The inspection
procedure is so designed that no deviaes unnoticed. They strive hard to achieve
unique quality.
Finally, to the customers, who play vital role in the business, they promise
quality with benefit of low - priced products. They discharge prompt service,
which help them to accomplish the goal of total customer satisfaction.
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.50.52 |
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UK Pound |
1 |
Rs.75.08 |
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Euro |
1 |
Rs.63.72 |
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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