MIRA
INFORM REPORT
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Report Date : |
16.11.2011 |
IDENTIFICATION DETAILS
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Name : |
AASRAA METALFORMS PRIVATE LIMITED |
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Registered
Office : |
7, Meenakshi Chamber, Ground Floor, |
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Country : |
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Date of Incorporation
: |
16.03.2006 |
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Com. Reg. No.: |
160536 |
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Capital
Investment / Paid-up Capital : |
Rs.0.500
million |
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CIN No.: [Company Identification
No.] |
U27310MH2006PTC160536 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
PNEA09624G |
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PAN No.: [Permanent Account No.] |
AAFCA6485M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Sheet Metal Components Wire Form and Precision
Machined Parts. |
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No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a company having moderate track records. The management has
not filed the financials of the company with the government department since
incorporation. However, business is active. Payments are unknown. The company can be considered for business dealings on secure 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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 : |
Ms. Smita |
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Designation : |
Accounts Department |
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Contact No.: |
91-22-28191644 |
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Date : |
11.11.2011 |
LOCATIONS
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Registered Office : |
7, Meenakshi Chamber, Ground Floor, |
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Tel. No.: |
91-22-28191644/ 28192604/ 65777180 |
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Mobile No. : |
91-9820094249 (Mr. Shaikh Salahuddin) |
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Fax No.: |
91-22-28188216 |
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E-Mail : |
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Website : |
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Area : |
600 Sq. ft. |
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Location : |
Owned |
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Factory : |
Plot No. H3/3, MIDC, Ambad-Nashik – 422 010, |
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Area : |
10000 Sq. ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Salahuddin A Shaikh |
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Designation : |
Managing Director |
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Address : |
Flat No. 602, B Wing, Satyam Evershine Enclave, Mira Road (East),
Thane – 401 107, Maharashtra, India |
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Date of Birth/Age : |
15.10.1975 |
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Qualification : |
D.E.T.E. |
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Date of Appointment : |
16.03.2006 |
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Pan No.: |
AMWPS2858Q |
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Name : |
Mr. Abdul Masjid |
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Designation : |
Director |
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Address : |
Flat No. 602, B Wing, Satyam Evershine Enclave, Mira Road (East),
Thane – 401 107, Maharashtra, India |
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Date of Birth/Age : |
01.08.1950 |
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Qualification : |
H.S.C. |
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Date of Appointment : |
16.03.2006 |
KEY EXECUTIVES
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Name : |
Ms. Smita |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Abdul Majid |
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25000 |
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Shaikh Salahuddin |
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25000 |
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Total |
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50000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Sheet Metal Components Wire Form and
Precision Machined Parts. |
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Products : |
·
Spring Dowel Pins ·
External Circlips ·
Internal Circlips ·
E Type Circlips ·
Disc Spring Washers ·
Spring Washers ·
Other Quality Products o
Bearing Wave Washer o
Fan Disc Washer o
Spiral Dowel o
Star Washer o
Shims o
Snap Rings o
Push On Fix Ring o
Any Kind Of Sheet Metal Components o
Wire Forms o
Precision Machined Parts o
Any Other Components As Per Party's Specification |
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Exports : |
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Products : |
· Sheet Metal Components · Machine Parts |
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Countries : |
· Middle East Countries · European Countries |
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Terms : |
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Selling : |
L/C and Credit (30 days) |
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Purchasing : |
Credit (30 days) |
GENERAL INFORMATION
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Suppliers : |
· Bombay Steel Corporation |
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Customers : |
Wholesalers · Kirloskar Brother Limited · Micro Finish Wall Private Limited · CG Lucy Switchgear Limited |
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No. of Employees : |
35 (Approximately) |
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Bankers : |
·
Syndicate Bank, Bhayander Branch ·
Bank of India ·
HDFC Bank |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ruchir Joshi and Associates Chartered Accountants |
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Address : |
Dahisar, Mumbai, |
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Associates/Subsidiaries : |
·
M S Engineering Company, Bhayander (East) Line
of Business : Steel Metal Components ·
S S Industries, Malad (West), Malvani Line
of Business : Wire Form ·
Mack Lock, Bhayander (East) Line
of Business : Machine Parts |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500
million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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Sales Turnover (Approximately) |
15.000 |
15.000 |
10.000 |
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Expected Sales (2011-12): Rs.15.000 Millions
The above information has been parted by Ms. Smita.
LOCAL AGENCY FURTHER INFORMATION
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Check list by info
Agents |
Available in Report (Yes/ No) |
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Year of Establishment |
Yes |
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Locality of the Firm |
Yes |
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Constitution of the Firm |
Yes |
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Premises details |
Yes |
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Type of Business |
Yes |
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Line of Business |
Yes |
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Promoter’s Background |
------ |
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No. of Employees |
Yes |
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Name of Person Contacted |
Yes |
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Designation of Contact person |
Yes |
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Turnover of Firm for last three years |
Yes |
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Profitability for last three years |
------ |
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Reasons for variation <> 20% |
------ |
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Estimation for coming financial year |
Yes |
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Capital in the business |
No |
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Details of sister concerns |
Yes |
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Major Suppliers |
Yes |
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Major Customers |
Yes |
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Payments Terms |
Yes |
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Export/ Imports Details (If applicable) |
Yes |
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Market Information |
------ |
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Litigations that the firm/ Promoters Involved in |
------ |
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Banking details |
Yes |
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Banking Facility Details |
No |
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Conduct of the Banking Account |
------ |
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Buyer visit details |
------ |
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Financials, if provided |
No |
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Incorporation details is applicable |
------ |
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Last Accounts filed at ROC |
------ |
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Major Shareholders, if available |
------ |
TRADE REFERENCES
·
Bombay Steel Corporation
· Kirloskar Brother Limited
· Microfinish Wall Private Limited
· CG Lucy Switchgear Limited, Nashik
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] 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.50.56 |
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|
1 |
Rs.80.30 |
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Euro |
1 |
Rs.68.79 |
RATING EXPLANATIONS
|
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.