MIRA
INFORM REPORT
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Report Date : |
19.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
MASCOT ENGINEERING COMPANY |
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Registered Office : |
58, World Trade Arcade, Cuffe Parade, Mumbai – 400005, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
1969 |
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Legal Form : |
A Partnership Concern With An Unlimited Liability of the Partner |
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Line of Business : |
Manufacturer of Pharmaceuticals and Cosmetics |
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 : |
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. Mohan L. Lalvani |
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Designation : |
Partner |
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Name : |
Mrs. Bharati |
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Designation : |
Accountant |
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Date : |
12.11.2008 |
LOCATIONS
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Registered
Office/ Corporate Office : |
58, World Trade Arcade, Cuffe Parade, Mumbai – 400005, Maharashtra,
India |
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Tel. No.: |
91- 22- 22187165 |
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Res. No.: |
91-22- 23631369 |
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Mobile No.: |
91- 9820066623 (Mr. Mohanlalwani) |
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Fax No.: |
91-22- 22187166 |
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E-Mail : |
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Website : |
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Area : |
600 sq ft (They have 2 Premises in World Trade Arcade) |
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Location : |
Owned |
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Formulation Lab : |
306, 3rd Floor, Shah and Nahar Industrial Estate, Off Dr.
E. Moses Road, Mumbai – 400018, Maharashtra. |
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Tel. No.: |
91-22- 66546820 |
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Fax No.: |
91-22- 66546821 |
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Area : |
1400 sq ft |
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Location : |
700 sq ft Owned and 700 sq ft is Rented |
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Sales Office : |
212, 2nd Floor, Shah and Nahar Industrial Estate, Off Dr.
E. Moses Road, Mumbai – 400018, Maharashtra |
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Tel. No.: |
91-22- 66546819 |
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Fax No.: |
91-22- 66546821 |
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Branch Office : |
206, Jaina Tower 1, Janakpur District Center, Janakpuri, New Delhi – 110058 |
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Tel. No.: |
91- 11- 41579288 |
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Fax No.: |
91- 11- 41579277 |
PARTNERS
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Name : |
Mr. Mohan L. Lalvani |
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Designation : |
Partner |
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Date of Birth/Age : |
66 Years |
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Qualification : |
Engineer |
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Name : |
Mr. Mohit M. Lalvani |
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Designation : |
Partner |
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Date of Birth/Age : |
40 Years |
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Qualification : |
B. Com |
KEY EXECUTIVES
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Name : |
Mr. Mohan L. Lalvani |
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Designation : |
Chairman and Accountant |
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Tel No.: |
91- 9820066623 |
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Email : |
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Name : |
Mr. Mohit Lalvani |
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Designation : |
Managing Director |
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Tel No.: |
91- 9820055513 |
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Email : |
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Name : |
Mr. N S Chhaya |
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Designation : |
General Manager – Sales and Service Personal Care |
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Tel No.: |
91- 9820763615 |
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Email : |
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Name : |
Dr. Ranjit Mane |
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Designation : |
National Manager – Technical and Marketing – Personal Care |
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Tel No.: |
91- 9821611303 |
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Email : |
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Name : |
Mr. Nagesh Uchil |
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Designation : |
Manager – Planning and Logistics
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Tel No.: |
91- 9820195389 |
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Email : |
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Name : |
Mr. Laxman Rana |
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Designation : |
Marketing Manager – West Zone – Personal Care |
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Tel No.: |
91- 9819102012 |
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Email : |
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Name : |
Mr. Nishant Bhowate |
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Designation : |
Business Development Manager – Health Care |
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Tel No.: |
91- 9892123841 |
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Email : |
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Name : |
Ms. Neha Kolwankar |
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Designation : |
Business Development Executive – Health Care |
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Tel No.: |
91- 9833990830 |
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Email : |
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Name : |
Mr. Prakash Sethuraman |
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Designation : |
Business Development Executive – South Zone – Personal Care |
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Tel No.: |
91- 9819336735 |
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Email : |
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Name : |
Mr. Shashank Kapse |
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Designation : |
Manager – Sales Coordination and Administration |
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Tel No.: |
91- 9820270776 |
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Email : |
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Name : |
Mr. Shivraj Kshirsagar |
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Designation : |
R and D Manager – Personal Care |
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Tel No.: |
91- 9819899776 |
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Email : |
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Name : |
Mr. Sushant Masurkar |
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Designation : |
R and D Executive – Personal Care |
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Tel No.: |
91- 9833682207 |
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Email : |
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Name : |
Mr. Sudhir Sharma |
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Designation : |
Marketing Manager – North Zone |
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Tel No.: |
91- 9899555088 |
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Email : |
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Name : |
Mr. S Patel |
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Designation : |
Asst. Manager – Planning and Logistic |
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Tel No.: |
91- 9213259755 |
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Email : |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Pharmaceuticals and Cosmetics |
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Products : |
Dow Corning Product
List
Croda Product List
Rohm and Haas
Product List
Honeywell Asensa
Product List
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Agencies Held : |
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Exports : |
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Countries : |
Sri Lanka, Dubai |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Germany, USA, Singapore |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
45 (Office- 40, Branches - 5) |
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Bankers : |
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Facilities : |
-- |
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Banking Relations
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Satisfactory |
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Auditors : |
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Name : |
C K Patil and Company Chartered Accountant |
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Associates/Subsidiaries : |
NIl |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.2.000 Millions (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs.2.000 Millions (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 (Estimated) |
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280.000 |
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Commission/ Income |
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2.900 |
Expected Sales (2008-09) : Rs.400.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
- Croda
Chemicals
- Dow Corning
WEBSITE DETAILS
ATTACHED
PROFILE
Subject the flagship of the group was
founded in 1969 by its President MR. MOHAN LALVANI for marketing oil fired
equipment, blowers, pumps, heaters, burners and filters.
The company diversified to
introduce new technology - FLUID POWER products. Subsequently it cultivated a
manufacturer of engineering products to develop and manufacture - hydraulic and
pneumatic components like cylinders, valves, power packs etc.
To market a wider range of
products, a partnership firm FLUIDLINE SYSTEMS was established in 1981, which
started to manufacture fittings and flexible hose assemblies for high pressure
hydraulic lines. In 1992, this firm became a company - FLUIDHOSE SYSTEMS
(INDIA) PVT. LTD.
In 1985, MASCOT GLASS division was
established to service the glass industry. Over a period of time they acquired
agencies and they are agents for VESUVIUS - INTERNATIONAL, FASTNER - GERMANY,
SORG and EME – GERMANY, BOSCATO and DALLA FONTANA - ITALY, WALTER - GERMANY,
PENNEKAMP – GERMANY, ROSARIO – THE NETHERLANDS, FERMAC – ITALY, H. C. STARCK –
GERMANY, THIMON – FRANCE and RAMSEY – USA.
In 1991, along with MR. MOHIT
LALVANI, MASCOT LIFE SCIENCES division came into being. It started with
marketing and distributing Personal Care and Health Care products manufactured
by ICI UNIQEMA which has now become a CRODA.
Since 1999, they are channel
partners of DOW CORNING.
Since 2003, they are channel
partners of ROHM AND HAAS.
Since 2006, they are channel
partners of HONEYWELL.
Presently their activities are
grouped into two major operating divisions. i.e. marketing and indenting.
Dow Corning at a Glance
Dow Corning was established in 1943 specifically to explore the potential of silicones. It was created as a joint venture between Corning Glass Works (now Corning Incorporated) and The Dow Chemical Company.
Today Dow Corning provides performance-enhancing solutions to serve the diverse needs of more than 25,000 customers worldwide. A global leader in silicon-based technology and innovation, offering more than 7,000 products and services, Dow Corning is equally owned by The Dow Chemical Company and Corning Incorporated. More than half of Dow Corning’s annual sales are outside the United States.
A Global Organization
No matter where in the world you develop and market the product, Dow Corning’s Personal Care Group can help you succeed. Silicone fluids, gums, emulsions, formulating aids, and specialty products are available in a range of product forms in the Hair Care, Skin Care, and Antiperspirant / Deodorant markets.
Dow Corning silicones provide performance properties that are supported by more than 40 years of extensive technical knowledge and experience, and a database of more than 5,000 individual studies. This foundation, along with their worldwide network, gives Dow Corning a reputation for performance and quality.
Dow Corning is committed to being a total-value supplier to the global Personal Care Industry by providing innovative materials, environmental and human safety information on its raw materials, worldwide responsiveness, and ongoing product stewardship.
Dow Corning Healthcare
- Qualified Topical Excipients
- Silicone Adhesives
- Acrylic and Rubber-BAsed Pressure Sensitive Adhesives
- Polyurethane Potting Compounds
- Rubber/Elastomers
- Tubing
- Fluids Emulsions and Dispersions
- Antifoams and Antifoam Emulsions
- Product selection guide ( Broucher )
About Croda (Old
Uniqema)
Croda is a global business designed for a new era in specialty chemicals. Croda’s goal is to create competitive advantages for customers by providing new and better solutions, products and services. Croda was formed in January, 1999 with the merger of 5 ICI Group businesses (ICI Surfactants, ICI Synthetic Lubricants, Unichema, Solaveil and Mona Industries) - bringing together over a hundred years of experience and innovation. Croda offer arguably the world's finest portfolio of surfactants, specialty performance chemicals and oleo-chemical derivatives.
In India, Croda has developed application expertise and an underlying diversified portfolio of products that cuts across virtually every aspect of industry, cutting across segments as varied as textiles, fiber processing, health and personal care, lubricants, polymerizations, resin emulsification, crop protection and many others. The manufacturing unit and Research and Technology Centre are located at Thane near Mumbai, one of 21 manufacturing sites for Croda around the globe.
Backed by strong R and D and technical services and facilities, the business has established an image of a world-class quality supplier and is the market leader in its chosen segments. Access to the latest technological developments and key export markets help Croda make relationships with leading customers as well as best-in-class suppliers around the world. A highly qualified and capable team of people are at work for total customer satisfaction, be it in manufacturing to tight specification, delivering to extremely demanding schedules or developing better products.
Rohm and Haas
For over thirty years, technologies pioneered by the Rohm and Haas Company have been used by formulating chemists worldwide to inspire innovation and add value to personal care products. Rohm and Haas expertise in polymer design and product preservation has resulted in a growing portfolio of products for the personal care industry. Rohm and Haas working hard to develop even more ingredients of creativity to help propel the own quest for invention.
Rohm and Haas Company is ready to help you formulate personal care products that win in the marketplace.
Honeywell Asensa
Honeywell has more than 50 years in the field of polymer science. Years of Innovation in product design and experience in building tailored solutions for Honeywell customers have made line of Asensa™ personal care products the most versatile family of low molecular weight polymers. Today Honeywell is still one of the world’s leading manufacturers of low molecular weight polymers and have the know-how and expertise to consistently deliver products of the highest quality and superior consistency are only part of the Honeywell equation. Working with Honeywell, you can rely on a global manufacturing base that puts the supply chain closest to where you do business.
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
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.68 |
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UK Pound |
1 |
Rs.74.64 |
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Euro |
1 |
Rs.62.58 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
NO |
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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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54 |
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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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