MIRA
INFORM REPORT
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Report Date : |
30.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
INDUSTRIAL BEARING COMPANY |
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Registered Office : |
407 Anna Salai, Pondicherry -605001. |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Year of Establishment : |
2002 |
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IEC No.: |
2505001308 |
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Legal Form : |
Partnership concern with an unlimited liability of the Partner. |
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Line of Business : |
Exporter, Importer and Trader of Industrial bearings and allied
Products. |
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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Maximum Credit Limit : |
USD 10000 |
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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 : |
Ms. Sudha , Asst. Accountant Department confirmed the details Subject is an established concern having satisfactory track record.
Trade relations are fair. Payment are usually correct and as per commitment . The concern can be considered normal for business dealings at usual
trade terms and condition. |
INFORMATION PARTED
BY
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Name : |
Ms. Sudha |
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Designation : |
Asst. Accountant Department |
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Contact No.: |
91-413-2224580 |
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Date : |
30.05.2008 |
LOCATIONS
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Registered Office : |
407 Anna Salai, Pondicherry -605001, India |
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Tel. No.: |
91-413-2224580 / 4209580 |
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Mobile No.: |
91-9345706616 / 9842247405 |
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Fax No.: |
91-413-2224580 |
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E-Mail : |
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Website : |
PARTNERS
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Name : |
Mr. N. Suresh Jaiswal |
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Designation : |
Managing Partner |
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BUSINESS DETAILS
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Line of Business : |
Exporter, Importer and Trader of Industrial bearings and allied
Products. |
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Products : |
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Exports : |
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Products : |
Bearings |
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Countries : |
Singapore |
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Imports : |
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Products : |
Bearings and other products |
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Countries : |
Japan , Singapore, Korea |
GENERAL
INFORMATION
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No. of Employees : |
6 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 millions |
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Borrowed : |
-- |
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Total : |
Rs. 2.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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15.000 |
LOCAL AGENCY FURTHER
INFORMATION
Profile :
Started in 2002, industrial Bearing company
has estimated itself as a eminent name is exporting and importing a wide array
of industrial Bearings and allied products. They have been catering to a
widespread clients based at India and in Singapore, Korea, China, and
elsewhere. They have offices in Chennai and Coimbatore. Their traded bearings
find wide application in various industries like Automotive , paper, Steel and
Several other industries.
The Proprietor in the firm is Mr. Suresh
Jaiswal. His experience of over 14 years in this industry has served the firm
well. He can meet the client’s every
requirement. They have emerged as one of the foremost trader of a wide gamut of
industrial bearing. They products are procured form trusted vendors form
various countries including in India. They are also authorized importers of
Koyo Japan and Stockiest for NBC bearings. They are also leading stockiest for
FAG,SKF,NTN,RHP,ZKL,TIMKEN,URB,THK,NACHI,TR,GAMET,ROLKOBO,ROLLWAY,TSUBAKI brands.
Some of the various types of bearings supplied by them are Spherical Roller
Bearings, Ball Bearings,
Needle Roller Bearings, Pillow block Bearings, Rail guides, Roller Thrust
Bearings, Taper Roller Bearings, V –Belt ,Industrial Roller Chains , Sprockets
and Oil Seals. A Part form the mentioned products they also offer Cylindrical Roller Bearings,
Thrust Bearings, One way clutch Bearings, Super precision Bearings, Pin bush
Bearings, Four row contact Bearings, Angular contact Bearings, Miniature
Bearings, Extra large size Bearings and all types of special bearings
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 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.42.77 |
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UK Pound |
1 |
Rs.84.33 |
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Euro |
1 |
Rs.66.65 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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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45 |
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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