MIRA
INFORM REPORT
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Report Date : |
01.06.2011 |
IDENTIFICATION DETAILS
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Name : |
MULJI DEVSHI AND COMPANY |
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Registered
Office : |
116, |
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Country : |
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Year of
Establishment : |
1915 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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Legal Form : |
Not Divulged |
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Line of Business
: |
Manufacturer and Exporter of Agro Commodities, Spices, Castor Oil and
Grains. |
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No. of Employees
: |
45 (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 : |
Undetermined |
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Payment Behaviour : |
Unknown |
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Litigation : |
-- |
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Comments : |
The management denied to disclose any information about the subject
company. Therefore, the report is based on indirect sources of information.
Payment terms are not known. Initially, the company 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 : |
Nitin Dedhia |
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Designation : |
Accounts
Department |
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Date : |
31.05.2011 |
LOCATIONS
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Registered Office/ Head Office : |
116, |
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Tel. No.: |
91-22-40040570/ 1 |
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Fax No.: |
91-22-23738480 |
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E-Mail : |
nilesh@muljidevshi.com |
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Website : |
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Location : |
Owned |
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Factory : |
542, |
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Overseas Office : |
Located at: v
v
v
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Branch Office : |
Located at: v
Kandla v
Dharampur v
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SOLE PROPRIETOR/PARTNERS
NOT DIVULGED
KEY EXECUTIVES
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Name : |
Vasanti P.
Chheda |
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Designation : |
President |
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Qualification : |
B. A. ( |
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Name : |
Mr. Nilesh
Vira |
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Designation : |
I.O.P.E.A - VICE CHAIRMAN Member - Sesame Seed
Committee |
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Qualification : |
B. E. ( |
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Name : |
Mr. Kaushal
Chheda |
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Designation : |
I.O.P.E.A - VICE CHAIRMAN Member - Sesame Seed
Committee |
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Name : |
Girisha Vira |
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Designation : |
Key Executive |
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Qualification : |
Bachelor of Commerce |
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Name : |
Ms. Jigna
Chheda |
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Designation : |
Key Executive |
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Qualification : |
Bachelor of Science |
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Name : |
Mr. Ajay Chauhan |
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Designation : |
Accounts
Department |
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Name : |
Mr. Nitin Dedhia |
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Designation : |
Accounts
Department |
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Name : |
Mr. Rajesh Kadam |
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Designation : |
Documents
Department |
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Name : |
Mr. Vijay Wable |
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Designation : |
Documents
Department |
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Name : |
Mr. Sanjay Dabhade |
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Designation : |
Administration
Department |
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Name : |
Ms. Sujata Swami |
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Designation : |
Administration
Department |
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Name : |
Mr. Prawin Jadhav |
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Designation : |
Operation
Department |
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Name : |
Mr. Dharmesh Rana |
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Designation : |
Operation
Department |
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Name : |
Mr. Narayan Shelar |
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Designation : |
Operation
Department |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Agro Commodities, Spices, Castor Oil and
Grains. |
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Products : |
v
Seeds v
Peanuts / Groundnuts v
Other Oilseeds v
Spices v
Bird Feed v
Pulses v
Grains v
Flour v
Other Commodities v
Castor Oil v
Oils v
C/Oil Derivatives v
Meals and Extractions v
Cotton |
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Exports : |
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Products : |
Agri Commodities, Spices,
Castor Oil and Grains |
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Imports : |
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Products : |
Oils, Chemicals and Pulses |
GENERAL INFORMATION
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No. of Employees : |
45 (Approximately) |
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Bankers : |
Not Divulged |
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Banking
Relations : |
-- |
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Auditors : |
Not Divulged |
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Memberships : |
v
Indian Oilseeds Produce and Exporters Association
(IOPEA) v
Groundnut Extraction Export Development Authority
(GEEDA) v
Federation of Indian Export Organisation (FIEO)
CHEMEXIL v
Pulses Importer Association Agricultural Produce
Export Development Agency (APEDA) v
Solvent Extraction Association (SEA) v
Federation of Oils, Seeds and Fats Association ( v
International Castor Oil Association ( v
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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 : |
Not Divulged |
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
WEBSITE DETAILS:
PROFILE:
Coming from humble roots, traced back to the deep interiors of Kutch from Gujarat state this very driven strategy has propelled Mulji Devshi to achieve status as one of the oldest and most well reputed exporters of commodities out of India.
Grown from a single trading company, this company has diversified into well diversified group of companies, armed with the experience of producing and processing high quality products.
The Company's core competence lies in its deep understanding and experience of the local and international commodity markets combined with traditional values and modern practices.
TIMELINE:
1915
Year of Establishment as trading firm and warehousing agents
1959
Opened Rice Mill at Dharampur (Gujarat) and Castor Oil
Refinery at Parli (
1975
Recognition of Export House Status by Government of
1977
Opening of Branch Office at
1978
Setting up of 2nd Oil Refinery for Castor Oil at Dharampur
1979
Setting up Groundnut grading machinery and infrastructure at
Veraval (
1996
Warehousing facilities created outside
Setting up Sesame Seed processing facilities at Gandhidham (Near Kandla Port)
Established Rice Flake (Poha) factory at Dharampur
2001
Formed association office at
2003
Setting up Branch Office in
2006
Setting up Branch Office / JV at
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.03 |
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|
1 |
Rs.74.43 |
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Euro |
1 |
Rs.64.75 |
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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.