MIRA
INFORM REPORT
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Report Date : |
13.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
KAKARANIA GROUP OF INDUSTRIES |
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Registered Office : |
12, Radhanath Choudhary Road, Kolkata 700015, West Bengal. |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
1978 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Fans. |
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 : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a Family Controlled Group of Rs.750.000 Millions. Trade
relations are fair. Payments are reported as slow but correct. The Group can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Saket Kakarania. |
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Designation : |
Directors |
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Contact No.: |
91-9831074635 |
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Date : |
25.10.2008 |
LOCATIONS
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Registered Office : |
12, Radhanath Choudhary Road, Kolkata 700015, West Bengal, India. |
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Tel. No.: |
91-33-23297952 / 3066 / 7914 / 8665 / 3653 |
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Mobile No.: |
91-9831074635 (Mr. Saket Kakarania) |
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Fax No.: |
91-33-23293908 |
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E-Mail : |
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Website : |
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Area : |
1500 sq ft |
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Location : |
Owned |
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Factory : |
40, Tangra Road, Kolkata 700015, West Bengal, India. |
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Tel. No.: |
91-33-23297952 / 2328 / 3653 |
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Fax No.: |
91-33-23283653 |
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Note: Subject have Six Factories. o
Three located at Kolkata, West Bengal. o
One located at Balanagar, Hyderabad, Andhra Pradesh. o
One located at Gautam nagar, Hyderabad, Andhra Pradesh. o
One located at Kala Amrh, Himachal Pradesh. |
DIRECTORS
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Name : |
Mr. Sunil Kakarania |
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Designation : |
Directors |
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Date of Birth/Age : |
53 Years |
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Qualification : |
Graduate |
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Name : |
Mr. Saket Kakarania |
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Designation : |
Director |
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Date of Birth/Age : |
28 Years |
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Qualification : |
MBA |
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Name : |
Mr. Prateek Kakarania |
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Designation : |
Director |
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Date of Birth/Age : |
24 Years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Fans. |
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Products : |
·
Table Fans ·
Pedestal Fans ·
Wall Fans ·
Fan Blades like, o
12" Winny Blade (ABS) o
16" Paan Blade (ABS) o
18" Knife Blade (FR-Nylon Blade) ·
Plastic Structural Parts ·
Decorative Parts ·
Fan motors ·
Other products. |
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Exports : |
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Products : |
·
Table Fans ·
Wall Fans ·
Pedestal Fans etc. |
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Countries : |
Bangladesh, Dubai. |
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Imports : |
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Products : |
Machinery |
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Countries : |
China |
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Terms : |
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Selling : |
L/C, Cash and Credit (60-120 days) |
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Purchasing : |
L/C, Cash and Credit (60-90 days) |
GENERAL
INFORMATION
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Customers : |
·
Wholesalers ·
Retailers ·
End Users ·
OEM's o
Khaitan fan o
Orient Fan o
Havell's Fan o
Bajaj fan ·
Government and Quasi Government Bodies: o
Airport Authority of India o
BRPL o
BSNL o
CPWD o
Defence o
Electronics Test Development Centre o
Gas Authority of India Limited. o
Hindustan Paper Corporation Limited o
Indian Institute of Technology o
Indian Oil Corporation Limited o
Meghalaya Garments Construction Company o
MES o
N F Railways o
National Buildings Construction Company o
National Hydro Power Corporation o
National Institute of Technology o
National Thermal Power Corporation o
North East Electric Power Corporation o
North East Hill University o
Numaligarh Refinery Limited o
Oil and Natural Gas Company o
Oil India Limited o
Prasar Bharti o
PWD o
State Electricity Boards ·
Sectors of Private Industries
In this Area: o
Arc Furnance o
Banks o
Builders o
Cement Plants o
Contractors o
Cosmetic Industry o
Educational Institutions o
Food Industries o
Hospitality Industries o
Hospitals o
I T Industry o
Insurance Companies o
Medicine Industries o
Panel Builders o
Power Plants o
Processed Industries o
Rolling Mills o
Shopping Malls and Showrooms o
Tea Gardens o
Tobacco Industries |
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No. of Employees : |
90 (Office=45 + Factory=45) |
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Bankers : |
Andhra Bank, Kolkata Branch, West Bengal. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. R K Banka and Associates, Chartered Accountant. |
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Address : |
Kolkata, West Bengal. |
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Group of Companies: |
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Qumex Moulds Private Limited, Kolkata 700001, West Bengal. o
Kakarania Plastometals Private Limited, Kolkata 700054, West Bengal. o
Rachana Collapsible Tubes Private Limited, Kolkata 700015, West
Bengal. o
Shubham Electornics, |
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Associates/Subsidiaries : |
Kakarania Plaspo Metals Private Limited. Address: Hyderabad, India. Line of Business: Manufacturer of all types of fans. |
CAPITAL STRUCTURE
Not Available.
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 (Estimated) |
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Sales Turnover |
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850.000 |
Expected Sales (2008-09) : Rs.1200.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
·
Khaitan Electrical Limited, Kolkata, West Bengal.
·
Havell's India Limited, Noida, Uttar Pradesh.
Note:
Kakarania Group of Industries Comprise with:-
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A) QUMEX MOULDS PRIVATE LIMITED |
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CIN: U25201WB1994PTC063142 |
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Reg. No: 21-063142 |
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Legal Form: Private Limited Liability Company |
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Date of Incorporation: 06.05.1994 |
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Registered Address: 40, Tangra Road, Kolkata 700001, West Bengal,
India. |
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Capital structure:
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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750000 |
Equity Shares |
Rs.10/- Each |
Rs.7.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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448540 |
Equity Shares |
Rs.10/-Each |
Rs.4.485
Millions |
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B) KAKARANIA PLASTOMETALS PRIVATE LIMITED |
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CIN: U25209WB2001PTC093331 |
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Reg. No: 21-093331 |
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Legal Form: Private Limited Liability Company |
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Date of Incorporation: 21.06.2001 |
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Registered Address: 193, CIT Road, Scheme-IV-H, Phoolbagan, Kolkata
700054, West Bengal, India. |
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Capital structure:
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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750000 |
Equity Shares |
Rs.10/- Each |
Rs.7.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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641300 |
Equity Shares |
Rs.10/-Each |
Rs.6.413
Millions |
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C) RACHNA COLLAPSIBLE TUBES PRIVATE LIMITED. |
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CIN: U27209WB1975PTC030292 |
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Reg. No: 21-030292 |
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Legal Form: Private Limited Liability Company |
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Date of Incorporation: 30.10.1975 |
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Registered Address: 12, Radhanath Chowdhary Road, Kolkata 700015, West
Bengal, India. |
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Capital structure:
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs.10/- Each |
Rs.20.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1077050 |
Equity Shares |
Rs.10/-Each |
Rs.10.770
Millions |
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D) SHUBHAM ELECTRONICS. |
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.
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] 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.48.79 |
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UK Pound |
1 |
Rs.75.41 |
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Euro |
1 |
Rs.61.48 |
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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