MIRA
INFORM REPORT
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Report Date : |
03.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
GOLDEN ENGINEERING COMPANY |
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Registered Office : |
51, Manoj Industrial Estate, G D Ambedkar Road, Wadala, Mumbai – 400
031, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1993 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of the widest range of Electromagnetic Clutches and
Brakes |
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 : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject seems to be pretty old concern in its field. Ms. Manpreet Kaur
declined to part with any details. No further details or payment could be
made available. The concern can be considered for any business dealings on fully safe
and secured terms only. |
INFORMATION
DECLINED BY
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Name : |
Ms. Manpreet Kaur |
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Designation : |
Administrative Officer |
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Date : |
31.10.2008 |
LOCATIONS
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Registered Office/Factory : |
51, Manoj Industrial Estate, G D Ambedkar Road, Wadala, Mumbai – 400
031, Maharashtra, India |
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Tel. No.: |
91-22-24151680 / 24151681 / 24151682 |
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Mobile No.: |
91-9820022514 |
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Fax No.: |
91-22-2415 1679 |
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E-Mail : |
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Website : |
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Area : |
1050 Sq. ft. |
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Location : |
Owned |
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Branch : |
Located at Delhi |
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Area : |
600 Sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Harmindar Singh |
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Designation : |
Proprietor |
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Address : |
601, Pushpagriha, 16th Road, Bandra, Mumbai – 400 0050,
Maharashtra, India |
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Date of Birth/Age : |
52 Years |
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Qualification : |
B.Com, DBEM |
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Experience : |
20 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of the widest range of Electromagnetic Clutches and
Brakes |
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Products : |
·
Electromagnetic Clutches and Brakes - Single Disc ·
Electromagnetic Clutches and Brakes - Multi Discs ·
Tooth Clutches ·
Mechanical Clutches ·
Fail Safe Brakes ·
Clutch Plates for Clutches and Brakes ·
Friction Plates - Steel, Sintered ·
Friction Materials (Non Abestos) ·
Machinery Spares - Spur Gears, Bevel Gears, etc ·
Telescopic Brushes and Inserts |
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Exports : |
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Products : |
EM Clutches and Brakes |
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Countries : |
Europe |
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Imports : |
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Products : |
Discs |
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Countries : |
UK |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
10 (In Office 2 and In Factory 8) |
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Bankers : |
Not Divulged |
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Banking
Relations : |
- |
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Auditors : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.000 million (Estimated) |
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Borrowed : |
- |
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Total : |
Rs.1.000 million (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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3.000 |
LOCAL AGENCY
FURTHER INFORMATION
Web Details
Subject founded in 1993, promoted by Mr. Harmindar Singh who has
been in the field of Electromagnetic Clutches and Brakes, Clutch Plates (Discs)
and Telescopic Brushes with the experience of 25 years.
Subject is a Manufacturer of the widest range of Electromagnetic
Clutches and Brakes (Multi-Disc and Single Disc), Tooth Clutches, Fail Safe
Brakes, Mechanical Clutches, Clutch Plates (Steel and Sintered) And Telescopic
Brushes equivalent to almost all leading International manufacturers.
Subject products have proved their worth for many years, in the most
varied areas of applications like Machine Tools, Textile, Packaging,
Pharmaceuticals and Special Purpose Machine manufacturers, etc and the subject has gained a reputation both
at home and abroad.
Subject has a well established manufacturing production unit ISO
9001:2000 certified, located near Mumbai with all latest facilities and testing
in house and a wide marketing network all over India.
Subject quality are been approved by RINA , ITALY ISO 9001:2000
quality standards.
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.49.25 |
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UK Pound |
1 |
Rs.80.36 |
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Euro |
1 |
Rs.62.84 |
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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