MIRA
INFORM REPORT
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Report Date : |
14.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHREEJI CHEMICAL INDUSTRIES |
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Registered Office : |
Plot No. 506, GIDC, Panoli District, Bharuch, Ankleshwar – 394 116, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1996 |
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IEC No.: |
3402000202 |
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PAN No.: [Permanent
Account No.] |
AATFS6791D |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer and Exporter of Pharmaceutical Intermediates. |
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 25000 |
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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. Trade
relations are fair. Payments are usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Bharatbhai M Patel |
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Designation : |
Partner |
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Contact No.: |
91-9825221364 |
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Date : |
10.11.2008 |
LOCATIONS
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Registered Office/Factory : |
Plot No. 506, GIDC, Panoli District, Bharuch, Ankleshwar – 394 116,
Gujarat, India |
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Tel. No.: |
91-2646-272271 |
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Mobile No.: |
91-9825221364 |
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Fax No.: |
91-2646-272032 |
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E-Mail : |
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Website : |
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Area : |
1575 Sq. Mtr. |
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Location : |
Leased |
PARTNERS
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Name : |
Mr. Bharatbhai M Patel |
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Designation : |
Partner |
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Date of Birth/Age : |
37 Years |
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Qualification : |
M.Sc. |
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Name : |
Mr. Bipin G Patel |
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Designation : |
Partner |
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Date of Birth/Age : |
36 Years |
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Qualification : |
B.A. |
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Name : |
Mr. Mulgibhai B Patel |
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Designation : |
Partner |
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Date of Birth/Age : |
64 Years |
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Qualification : |
M.A. |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Pharmaceutical Intermediates. |
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Exports : |
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Products : |
Pharmaceutical Intermediates |
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Countries : |
USA |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Credit (30 days – 45 days) |
GENERAL
INFORMATION
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Customers : |
Trader |
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No. of Employees : |
14 (In Office 4 and In Factory 10) |
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Bankers : |
·
Axis Bank, Ankaleshwar ·
Indian Bank, Panoli |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
C Surti and Company Chartered Accountants |
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Address : |
Ankaleshwar |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.4.838 million |
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Borrowed : |
- |
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Total : |
Rs.4.838 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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4.838 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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4.838 |
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LOAN FUNDS |
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1] Secured Loans |
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0.164 |
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2] Unsecured Loans |
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1.454 |
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TOTAL BORROWING |
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1.618 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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6.456 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.728 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.175 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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1.954 |
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Sundry Debtors |
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2.561 |
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Cash & Bank Balances |
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0.837 |
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Other Current Assets |
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0.073 |
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Loans & Advances |
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0.193 |
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Total
Current Assets |
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5.618 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.950 |
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Provisions |
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0.116 |
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Total
Current Liabilities |
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2.066 |
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Net Current Assets |
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3.552 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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Loans to be adjusted |
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0.001 |
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TOTAL |
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6.456 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.76 |
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Current Ratio (Current Asset/Current Liability) |
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2.72 |
LOCAL AGENCY
FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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Service Tax No. : -- |
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Excise Registration No.: AATFS6791D XM001 |
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VAT / TIN : 24211300078 |
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IEC Code : 3402000202 |
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PAN / TAN : AATFS6791D |
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Bank Name : Axis Bank |
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Bank Address : Ankaleshwar |
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Bank A/c. No.: 458010200005807 |
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Account Since : 4 Years |
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In case of any affiliations / memberships / certifications : |
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Name : 9001:2000 |
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Type : BVC |
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Expiry Date : 2010 |
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Trade References
·
Anuh Pharma Limited, Tarapur
·
Arch Pharma Lab, Hyderabad
Web Details
Profile
Incepted in the year 1996, Subject is among the leading names in the industry
engaged in the manufacturing, exporting and supplying of a widespread
assortment of organic chemicals like almitoyl chloride, cetyl chloride, decyl
bromide, phenyl acetyl chloride, cetyl bromide, lauryl chloride, organic
chemicals, pharmaceutical intermediates, para chloro meta cresol, para chloro
meta cresol and many more. Owing to the vast industry experience and sharp
business acumen of our mentor, Mr. Bhartbhai Patel, they have been able to
create a formidable position in the chemical industry.
Owing to the unswerving commitment and dedication on part of the team, they
have been able to carve a distinctive identity for ourselves in the industry.
Their vast industry expertise combined with in-depth knowledge of the changing
market trends has enabled us in formulating a diverse array of organic
chemicals as per the needs of the clients.
The manufacturing unit, located in the state of Gujarat, at Panoli,
Nr.Ankleshwar, is the largest zone in Asia for industrial estate. Besides
possessing the latest machinery and a well equipped technical laboratory with
latest testing instruments, they upgrade them from time to time, in order to
deliver chemicals as per the latest technology.
Product Portfolio
Leveraging on the robust infrastructure, they are capable of offering
the clients an extensive assortment of organic chemicals that are prepared
using quality ingredients and are formulated in accordance with the industry
standard. Applicable in preparing a vast range of products, these chemicals are
high in demand for their longer shelf-life and high quality.
The range of organic chemicals offered by they can be classified into two
categories of Pharmaceutical Intermediates and Fine Chemicals. Our assortment
of Pharmaceutical Intermediates comprise p-Chloro m-Cresol, p-Chloro m-Cresol-
Sodium Salt, p-Chloro m-Xylenol, Lauryl Chloride, Cetyl Chloride, Almitoyl
Chloride, Lauroyl Chloride, Phenyl Acetyl Chloride, Sodium 2-Ethyl Hexanoate,
Cetyl bromide, Lauryl bromide and Decyl bromide.
Some of the special features of the range of organic chemicals are:
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Environment-friendly
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Safe
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Reliable
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Accurate composition
Moreover, these chemicals can also be manufactured as pet the specific
requirements of the clients in terms of their composition.
Infrastructure
They maintain a well established infrastructure with two manufacturing
units spread over a vast area of 16000 square feet and having an appreciable
installed capacity of 500 MT/Year. The units are equipped with the latest
hi-tech machinery and modern tools that speeds up the production process,
enabling us to undertake bulk orders of the clients.
Some of the machines installed at the unit production units are:
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Glass lined reactors
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Stainless steel reactors
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High vacuum distillation units of glass and stainless steel
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Stainless steel vacuum dryer and
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Supporting chemical machinery
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Chemical analyzers
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Chemical condensers
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Chemical blenders
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Chemical feeders
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Chemical handling equipment
In addition, the organization also maintains a state-of-the-art design unit that
is equipped with necessary facilities that help them in formulation of
chemicals in accordance with the latest requirements in the industries.
Moreover, they also possess a modern laboratory, wherein they conduct several
tests with the help of latest testing equipment to check the quality of the
chemicals provided by them.
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.48.79 |
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UK Pound |
1 |
Rs.75.41 |
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Euro |
1 |
Rs.61.48 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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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46 |
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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