MIRA
INFORM REPORT
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Report Date : |
31.03.2011 |
IDENTIFICATION DETAILS
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Name : |
NATIONAL ENGINEERING COMPANY |
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Registered
Office : |
J-225, MIDC, Bhosari, Pune – 411026, |
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Country : |
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Year of
Establishment : |
1985 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
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Manufacturers and Importers of Clutches And Couplings,
Servo Couplings, Mechanical Clutches, Torque Limiting Clutches, Membrane Couplings,
Couplings for Encoders, Mecaloc Keyless Shaft Hub Locking Devices, Hold on
Safety Brakes, Elevator Brakes, Sea Water Brakes for gantry,cranes for ports,
etc. |
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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established proprietory concern having moderate track.
Ms. Shubhangi, Accounts provided to us the half information and denied to
disclose other details of the concern. However, trade relations are reported
as fair. Business is active. Payment terms are not known. The concern can be considered for business dealings with some caution.
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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 (General Details)
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Name : |
Ms. Shubhangi |
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Designation : |
Accounts Department |
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Date : |
26.03.2011 |
LOCATIONS
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Registered Office : |
J-225, MIDC, Bhosari, Pune – 411026, |
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Tel. No.: |
91-20-27474529 / 27461829 |
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Fax No.: |
91-20-27470229 |
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E-Mail : |
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Website : |
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Corporate Office : |
401, |
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Tel. No.: |
91-20-26833617 |
SOLE PROPRIETOR
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Name : |
Mr. Juzer Haidri |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Importers of Clutches And Couplings,
Servo Couplings, Mechanical Clutches, Torque Limiting Clutches, Membrane Couplings,
Couplings for Encoders, Mecaloc Keyless Shaft Hub Locking Devices, Hold on
Safety Brakes, Elevator Brakes, Sea Water Brakes for gantry,cranes for ports,
etc. |
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Brand Names : |
‘ NENCO ‘ |
GENERAL INFORMATION
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Bankers : |
Bank of |
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Banking
Relations : |
-- |
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
LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE
DETAILS
COMPANY PROFILE
National Engineering Company, more popularly known as NENCO,
is a highly innovative company in the field of power transmission couplings,
and allied products.
Since its formation in the year 1985, NENCO has concentrated
mainly on solving application problems involving flexible shaft couplings. Over
five hundred thousand NENFLEX couplings have been installed successfully, many
in critical applications.
Today, NENCO is a leader in the field of mechanical power
transmission couplings, and has the expertise to offer the most optimal drive
line solution, either from the standard manufacturing program comprising of
over five hundred design combinations, or by manufacturing a tailor made
coupling for a specific application.
Whether it is a highly critical coupling with a rating of
60,000 Nm for a steel plant, or a coupling to drive a fuel pump in a railway
engine, NENCO delivers it with highest commitment to quality and service. The
large variety of applications has given them a rich experience to tackle any
kind of a coupling application problem.
Intensive research and development, documented through many
patents, and supported by a sound manufacturing and testing set up has been the
recipe of their success. Their products are subjected to aggressive endurance
tests on their unique in - house test beds. They have a full fledged
manufacturing and testing facility for the elastomeric drive inserts which
happen to be the heart of every coupling. To enable them to realize their
goals, CAD and other advanced computer aided techniques are extensively
applied.
Since the year 1994, NENCO has tied up with MAYR GmbH + Co.
KG, Germany as their sole Indian partner to offer a wide range of high
precision servo and backlash-free shaft couplings, overload protection safety
clutches, torque and force limiters, electromagnetic clutches, brakes and
clutch / brake units.
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. 71.69 |
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Euro |
1 |
Rs. 63.02 |
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.