MIRA INFORM REPORT
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Report Date : |
20.01.2012 |
IDENTIFICATION DETAILS
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Name : |
J M BAXI AND COMPANY |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1918 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMJ00698F |
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PAN No.: [Permanent
Account No.] |
AAAFJ5198E |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Subject is engaged in shipping agency and allied services. |
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No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established partnership concern having
satisfactory track. Mr. Pardiwala Senior Manager provided to us general
information and denied to disclose financial details. However, trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The concern can be considered normal for business dealings at usual
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 (GENERAL DETAILS)
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Name : |
Mr. Pardiwala |
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Designation : |
Senior Manager |
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Contact No.: |
91-22-22663871 |
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Date : |
18.01.2012 |
LOCATIONS
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Registered Office / Head Office : |
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Tel. No.: |
91-22-22616451 |
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Fax No.: |
91-22-22621878 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office : |
16, |
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Other Areas : |
A/C’s And Finance Tel No.:91-22-22663871 (8 Line), 22663828 / 22663053, 22663848 Fax No.: 91-22-22654638 Stervedoring And Bulk Cargo Handling Operation Address: 25, Tel No.: 91-22-22665313 / 22663253 / 22652773 Fax No.: 91-22-22663260 E Mail: Blkcgo@Jmbaxi.Com Contact: Mr. Raghunandan V Business Development Address: Tel No.: 91-22-22703779 / 22703782 / 22659241 / 22692602 Email: Jca@Jmbaxi.Com Contact: Mr. Alexander J C Chartering Brokers Address: Tel No.: 91-22-22703631 / 22703632 Fax No.: 91-22-22695156 / 22664889 Email: Charmum@Jmbaxi.Com Contact: Capt Rahul Bhargava Clearing And Forwarding Address: 29, Tel No.: 91-22-22664227 / 22665762 / 22663543 Fax No.: 91-22-22664021 Email: Candf@Jmbaxi.Com Contact: Mr. Ramakrishnan K HR And Administration Tel No.: 91-22-225663871 Fax No.: 91-22-22634279 Email: Admn@Jmbaxo.Com International Freight Forwarding Address: 29, Tel No.: 91-22-22664227 / 22665762 / 22663543 Email: Iff@Jmbaxi.Com Contact: Mr. Shetty S R Address: Tel No.: 91-22-22045967 / 22045879 22044934 / 2285080 / 22047323 /
22876626 Fax No.: 91-22-22850302 / 22040382 Email: Rm@Jmbaxi.Com Contact: Mr. D’souza V C Offshore Division Address: 70 – A, Saravodaya Building, 2nd Floor, 70 – A,
Nehru Road, Extn, Vile Parle (East), Mumbai 400 099, Maharashtra, Tel No.: 91-22-26131111 / 26131277 / 26136652 / 26176016 Fax No.: 91-22-26116734 Email: Mummrkt@Jmbaxi.Com Contact: Mr. S Roy Project Transport Division Address: 19, Tel No.: 91-22-22660084 / 22663607 / 22661247 Fax No.: 91-22-22664888 Email: Proj@Jmbaxi.Com Contact: Mr. Narayan R / Mr. J Gulati |
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Other Offices : |
·
Ahmedabad ·
Alang ·
Alleppey ·
·
Bedi Bunder ·
Belekeri ·
Beypore ·
Bharuch ·
·
Bhubaneshwar ·
Budge Budge ·
·
Cannunore ·
Chennai ·
Colachel ·
Cuddalore ·
Dabhol ·
Dahej ·
Ennore ·
Gopalpur ·
Holdia ·
Hazira ·
Honavar ·
Jaigad ·
Jakhau ·
·
·
Kandla ·
Karwar ·
Kiranpani ·
·
Kolkata ·
Kundapur (DK) ·
Magdalla ·
Malpe ·
Malvan ·
Mandvi ·
Mangalore ·
Mormugao ( ·
Mulkwarka ·
Mundra ·
Nagapattinam ·
Navlakhi ·
Neendakara ·
·
Nhava Sheva ·
Okhala ·
Panjai ·
Pradip ·
Pipavav ·
·
Porbandar ·
Port Blair ·
Port Redi ·
Pune ·
·
Ratnagairi ·
Rozi ·
Salaya ·
Shrivardhan ·
·
Tadri ·
Tellicherry ·
Tuticorin ·
Umbharat ·
Vadinar ·
Vansiborsi ·
Verawal ·
Vijadurg ·
·
Vizhinjam |
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Physical Address: |
1st floor, Manganese House, |
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Tel. No.: |
91-891-2563919 / 2563572 / 2502840 / 2569193 / 2561416 |
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E-Mail : |
PARTNERS
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Name : |
Mr. Naresh J. Kotak |
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Designation : |
Partner |
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Date of Birth/Age : |
66 Years |
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Name : |
Mr. Krishna P Kotak |
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Designation : |
Partner |
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Date of Birth/Age : |
46 Years |
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Name : |
Mr. Dhruv Kotak |
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Designation : |
Partner |
KEY EXECUTIVES
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Name : |
Mr. Capt. M N Patnaik |
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Designation : |
Manager |
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Name : |
Mr. N B Satya |
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Designation : |
Senior Executive |
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Name : |
Mr. V Surya Roa |
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Designation : |
Senior Executive |
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Name : |
Mr. K B Kotak |
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Designation : |
Managing director |
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Name : |
Mr. H B Daruwala |
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Designation : |
Chief Accountant |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in shipping agency and allied services. |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cheque |
GENERAL INFORMATION
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Customers : |
Shipping Components |
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No. of Employees : |
400 (Approximately) |
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Bankers : |
·
Bank of · Hong Kong Bank ·
HSBC Bank, ·
HDFC Bank, |
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Facilities : |
Cash Credit – Not divulged |
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Banking
Relations : |
-- |
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Auditor : |
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Name : |
G.M. Kapadia and Company Chartered Accountant |
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
The above information has been declined by Mr. Pardiwala.
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
LOCAL AGENCY FURTHER INFORMATION
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Check List by Info Agents |
Available in Report (Yes / No) |
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1. Year of Establishment |
Yes |
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2. Locality of the firm |
Yes |
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3. Constructions of the firm |
Yes |
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4. Premises details |
Yes |
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5. Type of Business |
Yes |
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6. Line of Business |
Yes |
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7. Promoter’s background |
----------- |
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8. No. of Employees |
Yes |
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9. Name of person contacted |
Yes |
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10. Designation of contact person |
Yes |
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11. Turnover of firm for last three years |
No |
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12. Profitability for last three years |
No |
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13. Reasons for variation <> 20% |
----- |
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14. Estimation for coming financial year |
No |
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15. Capital in the business |
No |
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16. Details of sister concerns |
----- |
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17. Major suppliers |
No |
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18. Major customers |
No |
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19. Payments terms |
Yes |
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20. Export / Import details |
------ |
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21. Market information |
------- |
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22. Litigations that the firm / promoter involved |
------ |
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23. Banking Details |
Yes |
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24. Banking facility details |
No |
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25. Conduct of the banking account |
------ |
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26. Buyer visit details |
------ |
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27. Financials, if provided |
No |
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28. Incorporation details, if applicable |
------ |
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29. Last accounts filed at ROC |
------ |
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30. Major Shareholders, if available |
------ |
AS PER WEB
DETAILS:
Founded in 1916, subject is the largest, most efficient and
professionally managed Shipping Agency House in
The Company has a strong presence in most of its business lines and leadership
in several of the shipping support services.
The future plans are focussed on consolidating the existing activities
and developing other shipping related areas as well.
Ř A professionally
managed Company offering expert services to Shipowners, Exporters and
Importers.
Ř Quality of Service
and total commitment to their Clients and Principals.
Ř Experienced
professionals and specialists in every business activity.
Ř Over 4000
employees nationwide.
Ř Own offices at all
major and minor ports on the East and
Ř Nationwide
round-the-clock Communication Network.
Ř Comprehensive
logistics support.
Shipping Support
Services
Shipping Agency
They handle over 3500 vessels per annum at various Indian ports. These
include: Tankers (VLCC/Crude/Products), LPG, LNG & Ammonia carriers, Bulk
Cargo vessels, Container vessels, Break Bulk Liner vessels, Car carrier
vessels, Cruise vessels, Naval vessels, Dredgers, Lash vessels, Offshore &
onshore rigs, heavy lift cum submersible vessels, Supply vessels and
helicopters.
The scope of their services comprehensively covers all requirements of
the vessel. They offer services to vessels at all major and minor ports on the
east and west coasts of
Agency Services
For Cruise And Visiting Naval Ships
Armed with years of experience and expertise, their professionals and
Master Mariners are fully geared to handle all types of cruise and visiting
Naval ships at any port in
Container
Transport Management
With most of the liner cargo moving by containers, a separate cell has
been established to handle containers at all major ports. Container Freight
Stations and Inland Container Depots are equipped with their own sophisticated
equipment such as Top Lifters and Trailers.
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. 50.28 |
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|
1 |
Rs. 77.60 |
|
Euro |
1 |
Rs. 64.66 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
4 |
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--MARGINS |
-5~5 |
--- |
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DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
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.