MIRA
INFORM REPORT
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Report Date : |
13.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
ELECTEK SOLUTIONS PRIVATE LIMITED |
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Registered Office : |
25, Bhabha House, 191 Bora Bazar Street, Fort, Mumbai – 400001,
Maharashtra |
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Country : |
India |
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Date of Incorporation : |
16.11.2005 |
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Com. Reg. No.: |
157338 |
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CIN No.: [Company
Identification No.] |
U51909MH2005PTC157338 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUME06863D |
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PAN No.: [Permanent
Account No.] |
AABCE7277M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importer of Switches, Automation Systems and Accessories. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a 3 years old company but has not filed any financials with
the Government departments till date. The Management parted general details
but declined to part with financials. Payments are reported as slow at times. The company can be considered for small to mediocre business dealings
with slight caution, initially. |
INFORMATION PARTED
BY
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Name : |
Mr. Madan Meena |
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Designation : |
Accountants Manager |
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Date : |
11.10.2008 |
LOCATIONS
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Registered Office : |
25, Bhabha House, 191 Bora Bazar Street, Fort, Mumbai – 400001,
Maharashtra, India |
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Tel. No.: |
91-22-24928801 |
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Fax No.: |
91-22-24928899 |
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E-Mail : |
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Website : |
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Area : |
150 sq. ft. |
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Location : |
Owned |
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Administrative Office : |
164, Senapati Bapat Marg, Sun Mill Compound, 3A Prabhat House, Lower
Parel, Mumbai – 400013, Maharashtra, India |
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E-Mail : |
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Area : |
5000 sq. ft. |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Sameer Gada |
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Designation : |
Director |
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Date of Birth/Age : |
34 years |
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Name : |
Mrs. Heena Chheda |
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Designation : |
Director |
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Date of Birth/Age : |
39 years |
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Qualification : |
B. Com |
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Name : |
Mr. Mihirpal Kumarpal Shah |
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Designation : |
Director |
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Address : |
102, Shanti Kunj, Godavari Mhatre Road, Dahisar (West), Mumbai –
400069, Maharashtra, India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 08.11.2005)
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Names of Shareholders |
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No. of Shares |
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Shailesh Chheda |
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1000 |
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Heena Shailesh Chheda |
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5000 |
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Jagdish Raj Chheda |
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2000 |
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Mihirpal Kumarpal Shah |
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2000 |
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Total |
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10000 |
BUSINESS DETAILS
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Line of Business : |
Importer of Switches, Automation Systems and Accessories. |
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Imports : |
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Products : |
Electrical Goods |
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Countries : |
Germany |
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Terms : |
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Selling : |
Advance 50% |
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Purchasing : |
Advance |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
13 |
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Bankers : |
Home Street, Fort, Mumbai, Maharashtra, India |
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Banking Relations
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- |
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Auditors : |
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Name : |
Sameer Shah and Company Chartered Accountant |
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.0.100 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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[all figures are in Rupees Millions]
Not Available
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
- Alcon Systems, Vile Parle
- Patel Industry, Goregaon
Website Details:
Profile:
Globalization and liberalization has placed India in direct
competition with leading economies of the world. Indian economy is growing at a
rapid rate to keep pace with the challenges posed by this emerging scenario.
This reflects in all round growth of infrastructure and need for state-of the
art commercial buildings, hotels, malls, showrooms, architectural buildings,
airports, etc. The planners, builders, architects, contractors, consultant,
interior decorators and home owners are all looking for sophisticated solutions
in every field, especially in switching, controlling and lighting of buildings
that matches the current and future requirements.
Company team
has through thorough research identified products and solutions in switching,
controlling and lighting field that are sturdy, durable and of unmatched
functional performance. These products have an excellent aesthetic appeal and are
compatible with emerging and future trends in building and architectural
designs.
The products and systems are directed in particular to
high-end customers, looking for distinguished products that have lasting value
for money, are cost effective, environmentally sensitive and energy-efficient
as per current global trends.
Company team
at helm consists of well known personalities in the electrical, electronic,
lighting, heavy experience, designing, contracting, consultancy, software
development and business management.
This places the team in a unique position to understand the
actual anticipated
needs of its customers and provide custom made and customer-friendly solutions.
Subject caters
to a wide range of intelligent solutions in building automation. A large
variety of switches accessories & electronic products, light emitting
diodes etc. of sound design study construction and immaculate function are
within their scope of supply. All these products are manufactured in highly
automated factories with little human intervention to ensure consistent
quality.
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 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.48.72 |
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UK Pound |
1 |
Rs.82.72 |
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Euro |
1 |
Rs.82.90 |
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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