MIRA
INFORM REPORT
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Report Date : |
08.07.2011 |
IDENTIFICATION DETAILS
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Name : |
SILVASSA PLAST |
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Registered
Office : |
98/1, Village- Silli,
Silli- Jamal Pada Road, Silvassa-396230, Union Territory of Dadra and Nagar
Haveli |
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Country : |
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Date of
Incorporation : |
Not Available |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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Legal Form : |
Partnership concern with an unlimited liability company |
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Line of Business
: |
Manufacture and |
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No. of Employees
: |
425 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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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 : |
Closed Operation |
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Payment Behaviour : |
Unknown |
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Litigation : |
-- |
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Comments : |
As claimed by Mr. Shantilal Dugad, Finance Head, the business of
Silvassa Plast (a partnership concern) has been transferred to sister concern
company “KLJ Plasticiszsers Limited” from 1st April, 2011. Payment
terms are unknown. Initially, the subject can be considered for business dealings on a
safe and secured trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
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Name : |
Mr. Shantilal Dugad |
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Designation : |
Finance Head |
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Date : |
06.07.2011 |
LOCATIONS
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Registered Office: |
98/1, Village- Silli,
Silli- Jamal Pada Road, Silvassa-396230, Union Territory of Dadra and Nagar
Haveli, India |
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Tele- Fax: |
91-260-2993151 To 2993154 |
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E-Mail : |
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Website : |
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Area : |
5000 sq. ft |
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Location : |
Leased |
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Head Office: |
KLJ House, 63, Rama Marg ( |
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Tel. No.: |
91-11-25415823, 91-11-25442790, 91-11-25459706/ 25459707/544 |
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Fax No.: |
91-11-25459709. 91-11-25436204. |
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E-Mail: |
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Factory 1: |
98/1, village- Silli, Silli- Jamal Pada Road, Silvassa-396230, Union
Territory of Dadra and Nagar Haveli |
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Tel. No.: |
91-260-2993151 To 2993154 |
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E-Mail : |
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Area: |
120000 sq ft. 4 Floors |
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Location: |
Leased |
PARTNERS
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Name : |
Mr. K. L. Jain |
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Designation : |
Group Chairman and Managing Partner |
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Name : |
Mr. Hemant Jain |
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Designation: |
Partner |
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Name: |
Mr. Vimal Khurana |
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Designation: |
Partner |
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Name: |
Mr. Rishabh Jain |
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Designation : |
Partner |
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Name : |
Mr. Pushp Jain |
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Designation : |
Partner |
KEY EXECUTIVES
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Name : |
Mr. Shantilal Dugad |
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Designation : |
Finance Head |
BUSINESS DETAILS
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Line of Business : |
Manufacture and |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
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No. of Employees : |
425 (Approximately) |
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Bankers : |
·
State
Bank of ·
State
Bank of ·
Dena
Bank, New Delhi-110028 |
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Banking Relations
: |
- |
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Auditors : |
Not Divulged |
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Associates/Subsidiaries : |
·
KLJ
Polymers and Chemicals Limited ·
KLJ
Organic Limited ·
KLJ
Plasticizers. ·
KLJ
Poly Alloys. ·
KLJ
Polymers and Chemicals Limited ·
KLJ
Compoundings ·
KLJ
Kundalia Industries. ·
Vimal
Plasticizers Private Limited |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
- |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Divulged
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
LOCAL AGENCY FURTHER INFORMATION
Nil
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 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 |
|
US Dollar |
1 |
Rs.44.42 |
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|
1 |
Rs.70.95 |
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Euro |
1 |
Rs.63.63 |
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.