MIRA
INFORM REPORT
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Report Date : |
26.12.2008 |
IDENTIFICATION DETAILS
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Name : |
JOIN PACK MACHINES PRIVATE LIMITED |
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Registered Office : |
19/21, Shakti Nagar, |
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Country : |
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Date of Incorporation : |
20.08.2008 |
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Com. Reg. No.: |
182240 |
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CIN No.: [Company
Identification No.] |
U29220DL2008PTC182240 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Strapping Machines, Taping Machines, Shrink Machines,
Stretch Machines etc. |
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 : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and in the process of establishing itself.
The management expects a satisfactory turnover in the very first year itself.
No further details could be made available. The company can be considered for business dealings on safe and
secured terms initially. |
INFORMATION PARTED BY
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Name : |
Mr. Sanjeev Arora |
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Designation : |
Director |
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Contact No.: |
91-9810263044 |
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Date : |
24.12.2008 |
LOCATIONS
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Registered Office : |
19/21, Shakti Nagar, |
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Tel. No.: |
91-11-23845360 / 23847892 / 23845309 / 23842007 / 2743682 |
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Mobile No.: |
91-9810263044 |
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Fax No.: |
91-11-23845360 |
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E-Mail : |
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Website : |
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Area : |
5000 Sq. ft. |
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Location : |
Owned |
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Factory : |
4/7, Kirti Nagar, Industrial Area, |
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Tel. No.: |
91-11-25438381 |
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Area : |
8000 Sq. ft. |
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Location : |
Rented |
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Branch Office : |
Located at ·
Ahmedabad ·
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·
·
·
·
·
Chennai ·
Jaipur ·
Kolkata ·
Muradabad ·
Pune ·
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Baddi ·
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Jalandhar ·
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Mumbai ·
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DIRECTORS
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Name : |
Mr. Sanjeev Singh Arora |
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Designation : |
Director |
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Address : |
H No. 19/21, Shakti Nagar, |
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Date of Birth/Age : |
24.02.1963 |
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Qualification : |
B.Com |
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Name : |
Mr. Manpreet Arora |
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Designation : |
Director |
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Address : |
19/21, Shakti Nagar, |
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Date of Birth/Age : |
10.05.1970 |
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Qualification : |
B.Com |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 09.08.2008)
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Names of Shareholders |
No. of Shares |
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Manpreet Arora |
5000 |
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Sanjeev Singh Arora |
5000 |
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Total |
10000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Strapping Machines, Taping Machines, Shrink Machines,
Stretch Machines etc. |
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Products : |
·
Strapping Machines ·
Carton Taping Machines ·
Stretch Wrapping M/C ·
Shrink Wrapping M/C ·
Conveyors ·
Check Weighers ·
Strapping Hand Tools |
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Imports : |
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Products : |
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Taping Machines ·
Strapping Machines ·
Shrink Machines |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Credit (15 days) |
GENERAL INFORMATION
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Customers : |
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Wholesalers ·
End Users |
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No. of Employees : |
75 (In Office 35 and In Factory 40) |
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Bankers : |
ICICI Bank, Shakti Nagar, |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Mangala Kataria and Company Chartered Accountant |
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Address : |
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Associates/Subsidiaries : |
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Unitized Packaging Line
of Business : Packaging ·
State Express Plastic Industries Line
of Business : Plastic Products (Manufacturing) |
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]
New Company
LOCAL AGENCY FURTHER INFORMATION
Trade References
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S R Enterprises,
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Allied Sales,
Web Details
Profile
Subject has been dedicated to the Packaging
Industry for more than a decade now. The span of Operations covers both
Packaging Machines and Packaging Materials.
They specialize in End-Of-Line Packaging
Systems and Machines, such as:
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Strapping Machines
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Taping Machines
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Shrink Machines
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Stretch Machines
They are collaborating with M/s. Jia-In Industry Company Limited,
For Shrink Machine requirements, they manufacture UNIPACK range of basic Shrink Tunnels
and Chambers. For the Top-End, we promote AAA PACK TECH
Shrink Systems for Multi-Packing of all kind of Food and Stationery Items etc.
They also distribute the world famous CHAN-YEH
L-Sealers and Tunnels for High Speed Shrinking with Polyolefin Films. Likewise
for Palletization, they have the equally renowned ROBOPAC PERKS Stretch Platforms and Robots.
After Sales Service:
Subject lay a lot of stress on providing Timely
Preventive and Breakdown Service for the machines. According to our business
philosophy, this aspect of the Operation is THE Most Important Part of our
day-to-day working.
Our Sales and Service Engineers are technically prepared in training the
Personnel in operating these Machines and also in basic trouble-shooting and
preventive maintenance. They also carry a considerable amount of inventory of
all required spare parts of the Machines. Each of the Marketing or Service
Engineer has a work experience of 5-10 years on such machines. They can service
and provide spares for each and every Brand of Strapping and Taping Machines
currently available in
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
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.48.99 |
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1 |
Rs.72.49 |
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Euro |
1 |
Rs.68.44 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
1 |
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--CREDIT LINES |
1~10 |
1 |
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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 |
YES |
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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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13 |
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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