MIRA
INFORM REPORT
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Report Date : |
23.06.2008 |
IDENTIFICATION DETAILS
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Name : |
RAJVIN ELECTRICAL STAMPINGS PRIVATE LIMITED |
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Registered Office : |
Survey No. 18/7, Nanded Phata, Singhad Road, Maharashtra |
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Country : |
India |
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Date of Incorporation : |
05.05.1992 |
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Com. Reg. No.: |
11-66659 |
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CIN No.: [Company
Identification No.] |
U31200MH1992PTC066659 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR06410F |
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PAN No.: |
AAACR2521E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and exporter of
Electrical Stampings, Laminations, Sheet Metal Press Components and Dies. |
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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Litigation : |
Unknown |
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Comments : |
Subject is a company having moderate track having substantial losses. Payments are reported as slow and delayed. It would be prudent to deal with the company on safe and secured trade
terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Preetam Shashikant More |
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Designation : |
Key Executive |
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Contact No.: |
91-9822806067 |
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Date : |
18.06.2008 |
LOCATIONS
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Registered Office : |
Survey No. 18/7, Nanded Phata, Singhad Road, Maharashtra, India |
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Tel. No.: |
91-20-64702739 |
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Mobile No.: |
91-9822806067 |
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E-Mail : |
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Website : |
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Area : |
7000 sq. ft. [Owned] [Including factory] |
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Factory / Branch : |
820, MIDC, Khardi, Chiplun, Ratnagiri, India |
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Area : |
Owned |
DIRECTORS
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Name : |
Mr. Shashikant Rajaram More |
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Designation : |
Managing Director |
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Address : |
5-A, Indira Niwas, Opposite SBI, Peru Baug, Goregaon [East], Mumbai –
400063, Maharashtra, India |
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Date of Birth/Age : |
08.01.1946 |
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Date of Appointment : |
05.05.1992 |
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Name : |
Mrs. Sheetal Shashikant More |
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Designation : |
Director |
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Address : |
5-A, Indira Niwas, Opposite SBI, Peru Baug, Goregaon [East], Mumbai –
400063, Maharashtra, India |
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Date of Birth/Age : |
20.11.1953 |
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Date of Appointment : |
01.11.1993 |
KEY EXECUTIVES
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Name : |
Mr. Preetam Shashikant More |
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Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 30.09.2004
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Names of Shareholders |
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No. of Shares |
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Shashikant More |
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204 |
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Shital More |
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610 |
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Gurkaransingh Gadh |
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1 |
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Gumeetkaursingh Gadh |
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1 |
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Harmohansingh Gadh |
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1 |
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Kishore H Parab |
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1 |
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Umesh Sumetibhi Shah |
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1 |
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United Sales Organisation |
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1 |
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Pritam Shashikant More |
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180 |
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Total |
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1000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and exporter of
Electrical Stampings, Laminations, Sheet Metal Press Components and Dies. |
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Products : |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
L/C and Cash |
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Purchasing : |
L/C and Cash |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
40 |
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Bankers : |
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Facilities : |
C/C Terms : Rs. 3.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Vijay and Dhoyle and Company Chartered Accountants |
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Address : |
Chiplun, Rantagiri |
CAPITAL STRUCTURE
AS ON
Authorised 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 |
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]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover [Approximately] |
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50.000 |
30.000 |
LOCAL AGENCY FURTHER
INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Details |
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Statutory Approvals |
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Income Tax Registration |
AAACR2521E |
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Central Sales Tax Registration |
27980063617C |
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VAT/ TIN Registration |
27980063617V |
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Name of Bank |
Bank of Maharashtra |
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Current Account Number |
20061204573 |
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Account Since |
2 Years |
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Credibility Factors |
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IndiaMART Client Since |
2 Years |
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Trade Affiliations |
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SSI Registration |
Yes |
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Export Promotion Council |
No |
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Chambers of Commerce Membership |
MCCIA |
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Standards & Certifications |
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Quality Management Systems |
Process – Applied |
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Environment Management Systems |
NO |
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Safety Certificates |
NO |
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Product Certificates |
NO |
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Other Cerficates |
NO |
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Trade Reference
- PNP Components Private Limited, Mumbai
- Srijan Control Drives Private Limited, Pune, Himachal Pradesh
- Dixle Auto Electric, Canada, Pune
Bankers Charges
Report as per Registry
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Name of the company |
Rajvin Electrical Stampings Private
Limited |
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Presented By |
Mr. S. R. More |
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1) Date and description of instrument creating the change |
Agreement of hypothecation
and agreement for loan [Agreement dated
06.02.1996] |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.425 Million |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Against
hypothecation of machinery |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rs. 0.425 Million
against securing of machinery Interest @ 20 % p.a.
or the prevailing bank rate even higher |
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5) Name and Address and description of the person entitled to the charge. |
Kokan
Merc Co-Operative Bank Limited Fatima
Chambers, Guhagar Road, Chiplun |
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6) Date and brief description of instrument modifying the charge |
NA |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
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.42.97 |
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UK Pound |
1 |
Rs.84.75 |
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Euro |
1 |
Rs.66.72 |
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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