MIRA
INFORM REPORT
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Report Date : |
22.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
STEELS AND SCRAP |
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Registered Office : |
111, Yogeshwar Building, 135-137, Kazi Sayed Street, Masjid Mumbai,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1985 |
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PAN No.: [Permanent
Account No.] |
ADQPB8851M |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Importer, Exporter and Supplier of Foundry raw materials like S. S.
Melting scrap, nickel, cobalt and separator of high nickel scrap. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established concern having satisfactory track. Proprietor of the concern is reported as experienced, respectable and having satisfactory means of his own. His trade relations are fair.Payments are usually correct and as per commitments. Your proposed business dealings of GBP 71000 can be considered against D/A or D/P terms suggested. |
INFORMATION PARTED
BY
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Name : |
Mr. Shantaram S. Borkar |
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Designation : |
Accounts Manager |
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Date : |
22.05.2008 |
LOCATIONS
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Registered Office : |
111, Yogeshwar Building, 135-137, Kazi Sayed Street, Masjid Mumbai,
Maharashtra, India |
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Tel. No.: |
91-22-23433123 / 23447546 (Residence 25147814) |
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Mobile No.: |
91-9821033053 |
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Fax No.: |
91-22-23447546 |
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E-Mail : |
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Area : |
200 sq ft |
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Location : |
Owned |
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Factory 2 / Godown : |
B-5, Tulsa Compound, Val Village, Bhiwandi |
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Area : |
5000 sq fts. |
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Location : |
Owned |
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Branch Office : |
Gala No. 2698 – 2700, Bhagwati Estate, Odhav, Ahmedabad |
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Area : |
8000 sq fts. |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Jayesh Nagardas Botadra |
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Designation : |
Proprietor |
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Date of Birth/Age : |
47 years |
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Qualification : |
BSC |
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Experience : |
26 years |
KEY EXECUTIVES
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Name : |
Mr. Shantaram S. Borkar |
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Date of Birth/Age : |
42 years |
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Qualification : |
SSC |
BUSINESS DETAILS
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Line of Business : |
Importer, Exporter and Supplier of Foundry raw materials like S. S.
Melting scrap, nickel, cobalt and separator of high nickel scrap. |
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Exports : |
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Countries : |
UK and Germany |
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Imports : |
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Countries : |
China, UAE, UK, Germany, Sweden, Australia and USA and all other
Countries. |
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Terms : |
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Selling : |
Credit (60-120 days), Cash and Credit |
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Purchasing : |
Cash / Credit (30 days), Cash and Credit |
GENERAL
INFORMATION
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Customers : |
v Corenimet Ferro Hand mbH Sudbeckenstrabe 22, 76189 Karlsruhe – Hafen, Germany Tele No. 49721-95225-0 Fax No. 49721-591086 v Ireland Alloys Limited P.O. Box No. 18, Hamilton, Scotland, ML 3, OEL (UK) Tele No. 01698-822461 Fax No. 01698-825156 v ELG Haniel, Germany |
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No. of Employees : |
38 (Office -5, Factory –25 and Others -8) |
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Bankers : |
Union Bank of India Mandvi Branch, Mulratna Building, Narshi Natha Street, Mumbai –400 009, Maharashtra |
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Facilities : |
The concern enjoys SOD facility worth Rs. 2.000 Millions, L/C facility worth Rs.10.000 Millions and Bill Discounting facility worth Rs. 2.000 Millions from its banker and Import L/C Rs. 7.500 Millions. WWECB -> Rs.
7.500 Millions (Against Exports) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Savla & Associates (Chartered Accountants) |
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Address: |
Wadala, Mumbai, Maharashtra |
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Memberships : |
Bombay Metal Exchange Limited, Mumbai |
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Associates/Subsidiaries : |
Steels and Scrap Private Limited (Owned factory) W-227, MIDC, Taloja, Raigad, Maharashtra |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
Not Divulged |
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 |
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700.000 |
600.000 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:-
The concern imports Stainless Steel Melting Scrap
The concern exports High Nickel Scrap
Its MST No. is 400003/S-10761 – 01.04.1996
Its CST No. is 400003/C-10016 – 01.04.1996
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.42.72 |
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UK Pound |
1 |
Rs.83.96 |
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Euro |
1 |
Rs.66.90 |
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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