MIRA
INFORM REPORT
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Report Date : |
15.06.2011 |
IDENTIFICATION DETAILS
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Name : |
SAGAR MACHINERY LIMITED |
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Registered Office
: |
2nd Floor, |
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Country : |
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Date of
Incorporation : |
15.06.1995 |
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Com. Reg. No.: |
026335 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 million |
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CIN No.: [Company Identification
No.] |
U01135GJ1995PLC026335 |
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Legal Form : |
A closely held public limited liability company |
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Line of Business
: |
Manufacturer and Distributor of Electric Transformer Machinery, Distribution
Transformer Machinery, Power Machinery, Power Transformer Machinery, Aluminum
Wire Machinery, Copper Wire Machinery, Foil Covering Machinery, Cable
Machinery etc. |
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No. of Employees
: |
Not Divulged (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 : |
Dormant |
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Payment Behaviour : |
Unknown |
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Litigation : |
-- |
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Comments : |
As per Government the status of the company is shown as dormant. The
management has not filed the financial of the company since its incorporation.
As claimed by the management the status of the company is still active.
Payments terms are unknown. Initially, the company can be considered 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.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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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. Kiran Patel |
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Designation : |
Director |
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Contact No.: |
91-9426074177 |
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Date : |
04.06.2011 |
LOCATIONS
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Registered Office : |
2nd Floor, |
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Tel. No.: |
91-265-2411963 |
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Mobile No.: |
91-9426074177 (Mr. Karan Patel) |
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Fax No.: |
91-265-2413118 |
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Factory : |
190/191, Road-F, |
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Tel. No.: |
91-265-2411963 / 2830255 / 2830905 / 2413118 / 2634392 (R) |
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Fax No.: |
91-265-3046428 |
DIRECTORS
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Name : |
Mr. Kiran Patel |
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Designation : |
Director |
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Address : |
24, Person Society, |
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Date of Appointment : |
15.06.1995 |
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Name : |
Ms. Nipa Patel |
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Designation : |
Director |
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Address : |
24, Person Society, |
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Date of Appointment : |
15.06.1995 |
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Name : |
Mr. Natavarlal Patel |
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Designation : |
Director |
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Address : |
24, Person Society, |
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Date of Appointment : |
15.06.1995 |
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Name : |
Mr. Jagdish Patel |
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Designation : |
Director |
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Address : |
24, Person Society, |
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Date of Appointment : |
15.06.1995 |
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Name : |
Mr. Mohanlal Patel |
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Designation : |
Director |
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Address : |
24, Person Society, |
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Date of Appointment : |
15.06.1995 |
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Name : |
Ms. Sakarben Patel |
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Designation : |
Director |
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Address : |
24, Person Society, |
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Date of Appointment : |
15.06.1995 |
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Name : |
Ms. Jasumatiben Patel |
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Designation : |
Director |
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Address : |
24, Person Society, |
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Date of Appointment : |
15.06.1995 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Kiran Patel |
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9000 |
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Nipa Patel |
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995 |
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Natavarlal Patel |
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01 |
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Jagdish Patel |
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01 |
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Mohan Patel |
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01 |
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Sakarben Patel |
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01 |
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Jasumatiben Patel |
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01 |
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Total |
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10000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Distributor of Electric Transformer Machinery,
Distribution Transformer Machinery, Power Machinery, Power Transformer
Machinery, Aluminum Wire Machinery, Copper Wire Machinery, Foil Covering
Machinery, Cable Machinery etc. |
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Products : |
·
Box Type Oven ·
Strip Covering Machinery ·
Capstan Wheel ·
Copper Covering Machinery ·
DPC-6 Line ·
Aluminum Covering Machinery ·
DPC-4 Line ·
Fiber Glass Covering Machinery ·
DPC-6 Line Machine ·
Teflon Covering Machinery ·
DPC-Clutch ·
Mica Tap Covering Machinery ·
DPC-Disk Attachment ·
Winding Wire Machinery ·
DPC Machine ·
Submersible Winding Wire Machinery ·
On Line Oven ·
Electric Transformer Machinery ·
DPC-Machine ·
Distribution Transformer Machinery ·
Foil Covering Attachment ·
Power Machinery ·
Old Traverse System ·
Power Transformer Machinery ·
Slitting Machine ·
Aluminum Wire Machinery ·
Spindle ·
Copper Wire Machinery ·
Spur Gears ·
Foil Covering Machinery ·
TPC-2 Line Machine ·
Cable Machinery ·
TPC-4 Line ·
Instrument Cable Machinery ·
TPC-4 ·
Wire Machinery ·
TPC-4 Line DC-2 ·
Direct Cotton Covering Machinery ·
DCC Machinery ·
Aluminum Foil Covering Machinery |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
·
Wholesalers ·
Retailers ·
End Users |
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No. of Employees : |
Not Divulged (Approximately) |
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Bankers : |
Not Divulged |
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Banking
Relations : |
-- |
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Auditors : |
Not Divulged |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
ssued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Divulged
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.77 |
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1 |
Rs.73.45 |
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Euro |
1 |
Rs.64.55 |
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.