MIRA
INFORM REPORT
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Report Date : |
03.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
MILLENNIUM STARCH INDIA PRIVATE LIMITED |
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Registered Office : |
Survey No. 320/1A/1B, New Savadi, Taluka Athani, Belgaum – 591240,
Karnataka |
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Country : |
India |
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Date of Incorporation : |
11.04.2008 |
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Com. Reg. No.: |
46023 |
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CIN No.: [Company
Identification No.] |
U74991KA2008PTC046023 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRM13233D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Proposed Manufacture and Exporter of variety of starch
derivatives. |
RATING &
COMMENTS
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MIRA’s Rating : |
C |
3
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Mr. Desai Informed that he with provide all the documents once he
complete all the formalities. The company has not yet commenced business. Subject is a new company and yet to commence business. No payment or banking relations are known. He company can be considered for any business dealings on safe and
secured trade terms and conditions, only.
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LOCATIONS
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Registered Office : |
Survey No. 320/1A/1B, New Savadi, Taluka Athani, Belgaum – 591240,
Karnataka, India |
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Mobile No.: |
91-9422616363 / 9373956000 [Mr. Desai] |
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E-Mail : |
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Area : |
2000 sq. ft. [Owned] |
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Factory 1 : |
Venkatesh Senate Miraj Road, Sangli – 416416, Maharashtra, India |
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Tel. No.: |
91-233-2320909 |
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Area : |
Owned |
The company has not yet started its production unit.
DIRECTORS
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Name : |
Mr. Nikhil Suresh Patil |
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Designation : |
Director |
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Address : |
Indira Niwas, Uday Colony, Neminath Nagar, Vishrambag, Sangli –
416415, Maharashtra, India |
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Date of Birth/Age : |
12.05.1980 |
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Qualification : |
B. Com. |
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Name : |
Mr. Kaushal Suresh Patil |
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Designation : |
Director |
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Address : |
Indira Niwas, Uday Colony, Neminath Nagar, Vishrambag, Sangli –
416415, Maharashtra, India |
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Date of Birth/Age : |
18.04.1985 |
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Qualification : |
B.Com. |
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Name : |
Mrs. Jayshri Suresh Patil |
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Designation : |
Director |
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Address : |
Indira Niwas, Uday Colony, Neminath Nagar, Vishrambag, Sangli –
416415, Maharashtra, India |
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Date of Birth/Age : |
08.01.1963 |
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Qualification : |
B.Com. |
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Name : |
Mr. Suresh Patil |
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Designation : |
Director |
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Address : |
Indira Niwas, Uday Colony, Neminath Nagar, Vishrambag, Sangli –
416415, Maharashtra, India |
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Date of Birth/Age : |
51 Years |
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Qualification : |
B. Com. |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Kaushal Suresh Patil |
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700 |
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Jayshree Suresh Patil |
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700 |
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Snehal Prasad Patil |
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700 |
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Priya Nikhil Patil |
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700 |
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Jayawanti Patil |
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700 |
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Nikhil Suresh Patil |
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700 |
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Suresh A Patil |
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800 |
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Total |
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5000 |
BUSINESS DETAILS
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Line of Business : |
Proposed Manufacture and Exporter of variety of starch
derivatives. |
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Products : |
GENERAL
INFORMATION
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs. 100/-
each |
Rs. 0.500
Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs. 100/-
each |
Rs. 0.500
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
No financials are available as the subject is a new company.
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
Incepted in the year 2008, they have found a prominent place
among the leading manufacturers and exporters of a variety of starch
derivatives that are used in many forms and in numerous fields. They are
growing rapidly and are drawing close to fifty millions as annual turn over
which is likely to escalate in coming years.
They rest on two pillars namely their manufacturing facilities and their
skilled team. Their latest machines and equipments draw benefit from the expert
guidance of their team and help them in catering to the needs of numerous
clients.
With their sincere dedication and commitment they have achieved an enviable
status in the market and are preferred over their competitors. They have
efficiently impressed many leading companies and have vouched that they will
continue to deliver total satisfaction to them. 
Products
They offer finest quality starch and its derivatives that are consumed in many
forms and in many areas. Their collection has Liquid Glucose, Maltdextrin,
Dextrose Mono hydrate, Glucose – D, Dextrose Syrup, Maize Germ, Maize Gluten,
Maize Fiber, Maize Starch Powder, Maltoligosaccharide Syrup (Powder), Corn
Starch and Corn Fiber. Their products are made from the choicest of maize
produce which is procured from reliable sources. They have sophisticated
machines and equipments that help them in delivering products that have
following features:
- Enhanced
Transparency
- High Heat
resistance
- High Shear
resistance
- High Freeze
thaw resistance
- Excellent
Acid resistance
- Magnified
clarity
- More viscous
- Highly
flexible
- Non toxic
Application
Area
Their products are highly demanded due to their unmatched quality and diversity
of application. Many industries need their products for various purposes, some
of those machines are mentioned below:
- Pharmaceutical
- Pulp making
- Filler
- Paper
- Textile
- Oil drilling
- Food
- Adhesive
- Printing
Infrastructure
They have a robust
infrastructure that enables them in staying ahead of their competitors. They
have a huge manufacturing unit that is spread in an area of 6000 sq feet. It
has the installation capacity of 100 units and is out fitted with machines and
instruments that enable them in meeting the bulk requirements of their clients.
They have a skilled work force that handles these machines with due care and
expertise and makes sure that all the processes related with production are
carried out flawlessly.
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.46.96 |
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UK Pound |
1 |
Rs.83.91 |
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Euro |
1 |
Rs.66.36 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
- |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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TOTAL |
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10 |
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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