MIRA
INFORM REPORT
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Report Date : |
08.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
ISO HOSE AND ENGINEERING WORKS LIMITED |
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Registered Office : |
6-B, Tilak Market, Flat No. 1, Sanatan Dharam
Mandir, Tilak Nagar, New Delhi – 110018 |
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Country : |
India |
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Date of Incorporation : |
19.05.1989 |
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Com. Reg. No.: |
55-36330 |
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CIN No.: [Company
Identification No.] |
U29119DL1989PLC036330 |
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Legal Form : |
A closely held Public Limited Liability Company. |
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Line of Business : |
Manufacturer and Distributor of Hydraulic and Pneumatic Machines and
Accessories / Hose Crimping Machines. |
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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Litigation : |
Clear |
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Comments : |
Subject seems to be a small company having moderate track. It has not
filed its financials with the Government Registry, since incorporation. Payments are reported as slow and delayed. Initially, the company can be considered for any business dealings on
safe and secured trade terms and conditions. Mr. Tilak Raj Mehta, one of the director parted general details but
refused to part the financials. |
INFORMATION PARTED
BY
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Name : |
Mr. Tilak Raj Mehta |
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Designation : |
Technical Director |
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Contact No.: |
91-9810233310 |
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Date : |
06.11.2008 |
LOCATIONS
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Registered Office / Factory : |
6-B, Tilak Market, Flat No. 1, Sanatan Dharam
Mandir, Tilak Nagar, New Delhi – 110018, India |
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Tel. No.: |
91-11-25990574/42137604/25191798/25439750/25433274 |
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Mobile No.: |
91-9810233310/9810734853 |
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Fax No.: |
91-11-25990574/42137604/25433274 |
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E-Mail : |
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Website : |
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Area : |
200 Yards |
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Location : |
Owned |
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Factory : |
34/8 Ashok Nagar, New Delhi – 110 018,
India |
DIRECTORS
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Name : |
Mr. Tilak Raj Mehta |
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Designation : |
Technical Director |
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Date of Birth/Age : |
53 years |
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Qualification : |
B.E |
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Mobile No.: |
91-9810233310 |
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Name : |
Mr. B K Mehta |
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Designation : |
Director |
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Date of Birth/Age : |
60 years |
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Qualification : |
Graduate |
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Mobile No.: |
91-9810734853 |
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Name : |
Mr. B B Mehta |
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Designation : |
Director |
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Date of Birth/Age : |
40 years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Distributor of Hydraulic and Pneumatic Machines and
Accessories / Hose Crimping Machines. |
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Products : |
·
All types of flexible rubber hoses/SS corrugated
hoses/teflon hoses/thermoplastic hoses
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Hydraulic and pneumatic cylinders/valves both hand
operated and solenoid, FRL units, etc ·
High pressure and low pressure hose crimping machines
(hand operated/power operated) ·
Hoses like industrial rubber flexible hoses, metal
flexible hoses, hydraulic and pneumatic flexible hoses ·
Seals including hydraulic and pneumatic seals ·
Hose pressure testing machines ·
Hose cutting machines ·
Air/hydraulic filters including micro-vee
filters/moisture separators/HVAC industrial filters ·
Hydraulic presses and power packs ·
Loose end connections including
tees/elbows/adopters/quick release coupling/Ermeto fittings ·
Nut crimpers ·
Directional control valves ·
Hose skiving machines ·
Hydraulic and pneumatic fittings. |
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Exports : |
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Products : |
Hose Crimping Machine |
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Countries : |
Europe, Gulf Countries, South Africa
, UK |
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Imports : |
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Products : |
Hose |
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Countries : |
Europe, Gulf Country |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
15 (7 in Office and 8 in Factory) |
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Bankers : |
Punjab National Bank, Vikas Puri |
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Auditors : |
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Name : |
Navesh Sharma and Company Chartered Accountants |
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Address : |
New Delhi, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 100000 |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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20 |
Equity Shares |
Rs. 10/- each |
Rs. 200 |
FINANCIAL DATA
[all figures are in Rupees Millions]
Not Available
LOCAL AGENCY
FURTHER INFORMATION
TRADE References:-
· Larsen and Toubro, Delhi
· Maruti Udyog, Delhi
Website Details:-
Company Profile:
Subject is a reputed manufacturer, exporter,
importer, trader, supplier and distributor of hydraulic and pneumatic machines and
accessories. Their products include all types of flexible
rubber hoses/ SS corrugates hoses/ teflon hoses/ thermoplastic hoses, hydraulic
and pneumatic cylinders/valves including both hand operated and solenoid, FRL units,
high pressure and low pressure hose crimping machines (hand operated/power
operated), hose pressure testing machines, hose cutting machines, air/hydraulic
filters including micro-vee filters/moisture separators, hydraulic presses and
power packs, loose end connections including tees/elbows/adopters/quick release
coupling/Ermeto fittings, etc.
Their products
serve various industries like steel, electrical machinery, machine tools,
automobile, packaging, cement, textile, rubber, plastic, diesel engine, paper,
etc. The company has been serving their clients in the industry with reliable,
trusted and better quality products. Their products are all available under the
brand name of Flexon.
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.47.76 |
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UK Pound |
1 |
Rs.74.87 |
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Euro |
1 |
Rs.60.81 |
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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