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MIRA
INFORM REPORT
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Report Date : |
25.08.2011 |
IDENTIFICATION DETAILS
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Name : |
HUNTSMAN PERFORMANCE PRODUCTS (INDIA) PRIVATE LIMITED (w.e.f.
04.08.2011) |
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Formerly Known
As : |
LAFFANS FINE CHEMICALS PRIVATE LIMITED |
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Registered
Office : |
Plot No.321, G.I.D.C. Panoli, Panoli, Ankleshwar - 394116, |
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Country : |
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Date of
Incorporation : |
18.08.2010 |
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Com. Reg. No.: |
062014 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Millions |
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CIN No.: [Company Identification
No.] |
U24100GJ2010PTC0632014 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
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Manufacturer of Petro Chemicals |
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No. of Employees
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200 (Approximately) |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 4000 |
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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 : |
Subject is a new company establishing itself gradually. The company
expects sizeable turnover in its very first year of operation. Trade
relations are reported as fair. Business is active. Payments terms are unknown. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Adesh Jadhav |
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Designation : |
Account Manager |
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Contact No.: |
91-26-40506560 |
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Date : |
25.08.2011 |
LOCATIONS
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Registered Office / Factory / Warehouse : |
Plot No.321, G.I.D.C. Panoli, Panoli, Ankleshwar - 394116, |
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Tel. No.: |
91-26-46272009 |
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Fax No.: |
91-26-46272429 |
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E-Mail : |
adesh_jadhav@huntsman.com
/ deep_dholakia@huntsman.com
/ pratik_shah@huntsman.com / Patrick_verraes@huntsman.com |
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Website : |
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Area : |
2500 Sq. Mtrs. |
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Location : |
Owned |
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Head Office : |
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Tel. No.: |
91-22-40506565 / 40506556 |
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Area : |
4000 Sq. Ft. |
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Location : |
Rented |
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Warehouse 2 : |
Bhiwandi |
DIRECTORS
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Name : |
Mr. Deep Halendra Dholakia |
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Designation : |
Additional Director |
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Address : |
503, Silver palm, |
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Date of Birth/Age : |
24.01.1969 |
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Date of Appointment : |
29.03.2011 |
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DIN No.: |
03466012 |
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Name : |
Mr. Stephen James Stilliard |
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Designation : |
Additional Director |
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Address : |
10 Prinsep Link, |
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Date of Birth/Age : |
19.03.1952 |
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Date of Appointment : |
29.03.2011 |
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DIN No.: |
03475786 |
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Name : |
Mr. Patrick Albert Peter Verraes |
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Designation : |
Additional Director |
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Address : |
Annegijsboslaan, Overijse 3090 |
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Date of Birth/Age : |
20.09.1972 |
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Date of Appointment : |
02.04.2011 |
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DIN No.: |
03155820 |
KEY EXECUTIVES
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Name : |
Mr. Adesh Jadhav |
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Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Not Available
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Petro Chemicals |
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Products : |
Petro Chemicals |
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Exports : |
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Products : |
Petro Chemicals |
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Countries : |
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Netherland |
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Imports : |
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Products : |
Chemicals |
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Countries : |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
Axis Bank, Corporate Banking Branch, Axis House,
Ground Floor, Bombay Dyeing Mills Compound, P. B. Marg, Worli, Mumbai –
400025, Maharashtra, India |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountant |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
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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 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
New Company
Note : Work Started in company from 2nd
April 2011.
Expected Sales (2011-2012) : Rs.3000.000 Millions
The above information has been parted by Mr. Adesh Jadhav.
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES :
·
Bosch Limited
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Kansai Nerolac Paints
Limited
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Asian Paints
NEWS :
02 APRIL, 2011
Huntsman
Acquires Chemical Business of M q n s Petrochemicals Limited
THE WOODLANDS, TX - Huntsman Corporation
(NYSE: HUN) today announced that 11 has completed Its acquisition of Indian
chemical producer Laffans Petrochemical Limited., and has taken ownership of
the manufacturer's 6Okt ethylene oxide derivatives facility in Ankleshwar,
Huntsman Corporation 2010 revenues were $9.2
Billon In 2010 Laffans had revenues in excess of $50 Millions News of the
Laffans acquisition follow another recent Asian announcement from Huntsman
Performance Products outlining a $70 Million Investment in a capacity expansion
program at its polyetheramine plant in
Commenting on the acquisition Paler R
Huntsman. President and Chief Executive Officer of Huntsman Corporation. Said
'This acquisition is a continuation of our strategy to build our Asian business
We look forward to integrating this business and further expanding our Indian
business'
About
Huntsman:
Huntsman is a global manufacturer and marketer
of differentiated chemicals Its operating companies manufacture products for a
variety of global industries, including chemicals, plastics. automotive.
aviation. textiles. footwear, paints and coatings, construction, technology,
agriculture, health care, detergent, personal care, furniture. appliances and
packaging Originally known for pioneering Innovations In packaging and, later.
for rapid and Integrated growth In petrochemicals, Huntsmen today has
approximately 12,000 employees and operates from multiple locations worldwide
The Company had 2010 revenues of over 89 billion. For more Information about
Huntsman, please visit the company's website at www.huntsman.com
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.46.13 |
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1 |
Rs.75.52 |
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Euro |
1 |
Rs.66.53 |
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 |
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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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.