MIRA
INFORM REPORT
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Report Date : |
17.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
HORIZON MERCANTILE ASSOCIATES PRIVATE LIMITED |
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Registered Office : |
2nd Ground Floor, Shashi Kripa Building, Paowala Street,
Opposite Vijay Chamber, Raja Ram Mohan Rao Road, Mumbai – 400 004,
Maharashtra |
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Country : |
India |
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Date of Incorporation : |
25.04.2007 |
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Com. Reg. No.: |
170236 |
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CIN No.: [Company
Identification No.] |
U51909MH2007PTC170236 |
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IEC No.: |
0307021157 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMH10753B |
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PAN No.: [Permanent
Account No.] |
AABCH8502Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Pipe Fitting, Ferrous and Non Ferrous
Equipments. |
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 : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company and yet to establish track. No payment records are available. Initially, it should be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Kalyan |
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Designation : |
Director |
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Date : |
15.12.2008 |
LOCATIONS
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Registered Office : |
2nd Ground Floor, Shashi Kripa Building, Paowala Street, Opposite
Vijay Chamber, Raja Ram Mohan Rao Road, Mumbai – 400 004, Maharashtra, India |
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Tel. No.: |
91-22-23855158 / 23855159 |
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Fax No.: |
91-22-23855559 |
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E-Mail : |
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Website : |
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Area : |
500 Sq. ft. |
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Location : |
Owned |
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Factory : |
Plot No. 2, Opposite Verma Sales Petrol Pump, Vasai Express Highway,
Vasai |
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Area : |
1500 Sq. ft. |
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Location : |
Rented |
DIRECTORS
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Name : |
Mrs. Hansa Parmar |
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Designation : |
Director |
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Address : |
Ground Floor, Shop No. 24, Sonarika Building, Nanubhai Desai Road,
Mumbai – 400 004, Maharashtra, India |
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Date of Birth/Age : |
10.06.1986 |
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Qualification : |
Graduate |
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Name : |
Mr. Kalyan Parmar |
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Designation : |
Director |
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Qualification : |
Graduate |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 03.04.2007)
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Names of Shareholders |
No. of Shares |
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Kalyan Singh Parmar |
2500 |
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Hansa Parmar |
2500 |
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ISAC John |
2500 |
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Balchandra Pillai |
2500 |
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Total |
10000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Pipe Fitting, Ferrous and Non Ferrous
Equipments. |
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Products : |
·
Pipes And Tubes ·
Forged High Pressure Fittings Socket Weld And NPT ·
BSP Threaded Fittings ·
Flanges ·
Tube Fittings ·
Buttweld Pipe Fittings ·
Fasteners ·
Sheets, Plates, Round Bars |
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Exports : |
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Products : |
Pipe Fitting |
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Countries : |
All over World |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Korea ·
Japan ·
Singapore |
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Terms : |
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Selling : |
L/C - TT |
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Purchasing : |
L/C – TT |
GENERAL
INFORMATION
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Customers : |
·
Wholesalers ·
Retailers ·
Lloyd Steel Industries Limited ·
Punj Lloyd Limited ·
Vedanta Group ·
Vadilal Industries Limited ·
General Instruments Consortium ·
Sterling Biotech Limited ·
Faisal Ali Abdullah Al Naqeeb Est |
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No. of Employees : |
30 (In office 10 and In Factory 20) |
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Bankers : |
HSBC Bank ICICI Bank, Mumbai |
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Facilities : |
The Company reported to enjoy some facilities from it’s Banks. |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Not Divulged |
CAPITAL STRUCTURE
Authorised 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 |
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]
No Financials are available since incorporation.
As such, subject is a new company.
LOCAL AGENCY
FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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Service Tax No. : -- |
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Excise Registration No.: -- |
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VAT / TIN : 27510612659 |
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IEC Code : 0307021157 |
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PAN / TAN : AABCH8502Q |
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Bank Name : HSBC |
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Bank Address : Pawai |
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Bank A/c. No.: -- |
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Account Since : 2 Years |
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In case of any affiliations / memberships / certifications : |
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Name : 9001:2000 |
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Type : From TUV |
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Expiry Date : 2010 |
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Trade References
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Punj Lloyd Limited, All over India
·
Hysys general Trading, Kuwait
Web Details
Subject is an internationally acclaimed exporter and
supplier of quality metal products, including - Pipes and tubes, Forged High
Pressure Fittings Socket, Weld and NPT, BSP Threaded fittings, Flanges tube
fitting, Buttweld fittings, Fasteners and more. Through regular and consistent
supply of its quality, durable, hi-performance products, the company has
established itself as one of the most reliable players in the industry.
With the years of experience in international market and an in-depth
understanding of the industry, they are capable to provide the customers with
best possible solutions to meet their various requirements. They possess a well
maintained warehouse that enables them to keep stock of the products thus they
provide a perennial supply of goods to the customers. The international
standards of packaging have facilitated them to create a niche for ourselves in
the industry.
Apart from exporting products, they also outsource the products according to
the requirements of the associates and clients. Committed to providing highest
level of customer satisfaction, they are capable to deliver the orders within
stipulated period of time to the clients in any part of the world. The company
with its aggressive marketing strategy and a close association with fabricators
recognized in manufacturing top-quality steel items is ready to leap the bound.
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.47.82 |
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UK Pound |
1 |
Rs.73.08 |
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Euro |
1 |
Rs.65.56 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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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 |
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 |
YES |
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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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27 |
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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