MIRA
INFORM REPORT
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Report Date : |
21.10.2008 |
IDENTIFICATION DETAILS
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Name : |
KUNAL IMPEX |
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Registered Office : |
Room No.81, 6th Floor, Commercial Chamber, |
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Country : |
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Financials (as on) : |
31.03.2008 (estimated) |
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Year of Establishment : |
1993 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Importers and Traders of Chemical and Pharmaceuticals. |
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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Maximum Credit Limit : |
USD 20000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow and Delayed |
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Litigation : |
Clear |
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Comments : |
On 15th October, no one was available at the subjects
office. On 18th October, Proprietor was absent. On 20th
October Mr.Rajesh Bhuta claimed that he has discontinued import since last
several years and denied the information. Subject has small steady business. Payments are reported as slow and
delayed. The concern should be considered for any business dealings on safe
and secured trade terms and conditions, only. |
LOCATIONS
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Registered Office /Factory : |
Room No.81, 6th Floor, Commercial Chamber, |
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Tel. No.: |
91-22-23412638 |
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Fax No.: |
91-22-23412639 |
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E-Mail : |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr.Rajesh Bhuta |
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Designation : |
Proprietor |
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Qualification : |
B.Sc. |
BUSINESS DETAILS
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Line of Business : |
Importers and Traders of Chemical and Pharmaceuticals. |
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Products : |
· Carba Maxepine IP · Citiric Acid Mono Hydrate BP 93 · Iminostilbene Carbonyl CH · Feed Supliment L-Lysine M · L-Lysine Mono HCL USP · Manitol BP 98 Pyrogen Fre · Monosodium Glutamate · Perforated Plate 24 X 24 · Vitamin B6 BP93/USP23 |
GENERAL INFORMATION
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Customers : |
· Ashish International · Bansal Pharma Limited · Chemex Industries · Dayalji & Sons · Densa Pharmaceuticals Private Limited · Devanshi Impex Private Limited · Drug Home · Emmar Chem Industries Private Limited · Gargi Packing Industries · Harish Enterprise · Hemnar Pharma · Inland Pharma · K. Uttamlal & Company · Ketan Pharma · M. S. Healthcare Private Limited · Mehta Traders · Mehtachem · Mehta Associates · Micron Pharmaceuticals · National Drug Corporation · Nikita Pharma Sales · P. D. Fine Chem · Panchem · Passim Medichem Agencies · Panchsheel Organics Limited · P. N. P. Enterprise · Purvi Enterprises · Rajdeep Pharmaceuticals · Rajesh Agarwal & Company · Shreenath Vet Feed Private Limited · Shreenath Chemicals · Siddhi Vinayak Pharma · Siddarth Global Limited · Span Enterprises · Suprim Chemicals ·
Vitaplus ( |
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No. of Employees : |
2 ( in office) |
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Bankers : |
Bank of Mandvi Branch, Mumbai |
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Facilities : |
The concern do not enjoy facility from its bankers. |
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Auditors : |
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Name : |
Jagdishwala and Company Chartered Accountant |
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Memberships : |
Chemicals & Alkali Merchants Association |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.000 Millions (estimated) |
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Borrowed : |
0.000 |
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Total : |
Rs.5.000 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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20.000 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY
Subject was established in the year 1993 at Mumbai in
It is in trade terms
with:-
Chemivet, Mumbai
Tel. 91-22-23404040
Contact Person : Mr. Mahesh Wadhwa
Ritej Chemicals, Mumbai
Tel. 91-22-28628422
Contact Person : Mr. Nitin Lodavia
Ajitrade Pte. Limited,
Tel. 65 2571922
Contact Person : Mr. Michio Maruyama
Subject operates from caption rented office premises of area admeasuring 400 sq.fts. situated on 6th floor of the building.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.48.83 |
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1 |
Rs.85.12 |
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Euro |
1 |
Rs.65.86 |
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 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
YES |
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TOTAL |
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38 |
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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