|
Report Date : |
12.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
SARVAMANGAL |
|
|
|
|
Registered
Office : |
28, Ellisbridge Shopping Centre, Opposite Town Hall, Ellisbridge, Ahmedabad
– 380006, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Year of
Establishment : |
1989 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAMPV2900N |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Manufacturer, Trader, Exporter and Importer of Oilfield
Chemicals, Water Treatment Chemicals, Corrosion Inhibitor, Oil Line Corrosion
Inhibitor, Water Soluble Demulsifier, Water Foamer, Acid Foamer, Bactericide
Amine Type, Bactericide Non-Aldehyde/ Non-Amine Type, etc. |
|
|
|
|
No. of Employees
: |
08 (In office 04 + In factory 4) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Recommenced Business |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
As confirmed by Mr. Chinmay, CEO. The concern was not having any business
activity from the year 1992 to November, 2011 because they were more
concentrating on their sister concern company “Rimpro The concern can be considered for business dealings on a 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Chinmay Vachhani |
|
Designation : |
CEO |
|
Contact No.: |
91-9825474094 |
|
Date : |
26.05.2012 |
LOCATIONS
|
Registered Office : |
28, Ellisbridge Shopping Centre, Opposite Town Hall, Ellisbridge,
Ahmedabad – 380006, Gujarat, India |
|
Tel. No.: |
91-79-26575119 |
|
Fax No.: |
91-79-26575119 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
9 A, Aswamegh Industrial Estate, Opposite Water Tank, Changodar, Taluka
– Sanand, District Ahmedabad – 382213, Gujarat, India |
|
Location : |
Rented |
SOLE PROPRIETOR
|
Name : |
Mr. Babulal T Vachhani |
|
Designation : |
Proprietor |
|
Address : |
5, Vaishali Apartment, Opposite Pritam Nagar, Akada, Ellisbridge,
Ahmedabad – 380006, Gujarat, India |
|
Date of Birth/Age : |
16.07.1939 |
|
Qualification : |
Under Graduate |
|
Experience : |
35 years |
KEY EXECUTIVES
|
Name : |
Mr. Chinmay Vachhani |
|
Designation : |
CEO |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader, Exporter and Importer of Oilfield
Chemicals, Water Treatment Chemicals, Corrosion Inhibitor, Oil Line Corrosion
Inhibitor, Water Soluble Demulsifier, Water Foamer, Acid Foamer, Bactericide
Amine Type, Bactericide Non-Aldehyde/ Non-Amine Type, etc. |
|
|
|
|
Exports : |
|
|
Products : |
Chemicals, Oil Field Chemicals |
|
Countries : |
·
Middle East ·
African Countries |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Credit |
|
|
|
|
Purchasing : |
L/C, Credit |
GENERAL INFORMATION
|
Suppliers: |
·
Bleach Chem Address:
7th
Floor, Panchvati, Ahmedabad – 380006, Gujarat, India Tel
No.: 91-79-26565501 / 91-9825022958 (Mr. Jignesh Shah) ·
Shree Chemicals Address:
2nd
Floor, Amee Beia, Opposite Old Gujarat High Court, Ahmedabad Tel
No.: 91-79-27540760 / 91-9825310381 (Mr. Yogendra G Shah) ·
Jay Intermediates and Chemicals Address:
40
Shed Area, GIDC, Vapi, Gujarat, India Tel
No.: 91-260-2436232 / 91-9898437973 (Mr. Prakash R Maurya) |
|
|
|
|
Customers : |
·
Wholesalers ·
End Users |
|
|
|
|
No. of Employees : |
08 (In office 04 + In factory 4) |
|
|
|
|
Bankers : |
Bank of India, Ellisbridge Branch, Ahmedabad |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R M Joshi and Company Chartered Accountant |
|
Address : |
249, Ellisbridge Shopping Centre, Opposite Town Hall, Ellisbridge
Branch, Ahmedabad – 380006, Gujarat, India |
|
Tel. No.: |
91-79-26579331 |
|
|
|
|
Associates/Subsidiaries : |
Rimpro India |
CAPITAL STRUCTURE
NOT AVAILABLE
FINANCIAL DATA
[all figures are
in Rupees Millions]
NOT AVAILABLE
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
LOCAL AGENCY FURTHER INFORMATION
|
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1)
Year of Establishment |
Yes |
|
2)
Locality of the firm |
Yes |
|
3)
Constitutions of the firm |
Yes |
|
4)
Premises details |
Yes |
|
5)
Type of Business |
Yes |
|
6)
Line of Business |
Yes |
|
7)
Promoter's background |
Yes |
|
8)
No. of employees |
Yes |
|
9)
Name of person contacted |
Yes |
|
10)
Designation of contact person |
Yes |
|
11)
Turnover of firm for last three years |
No |
|
12)
Profitability for last three years |
No |
|
13)
Reasons for variation <> 20% |
-- |
|
14)
Estimation for coming financial year |
No |
|
15)
Capital in the business |
No |
|
16)
Details of sister concerns |
Yes |
|
17)
Major suppliers |
No |
|
18)
Major customers |
No |
|
19)
Payments terms |
Yes |
|
20)
Export / Import details (if applicable) |
-- |
|
21)
Market information |
-- |
|
22)
Litigations that the firm / promoter involved in |
-- |
|
23)
Banking Details |
Yes |
|
24)
Banking facility details |
No |
|
25)
Conduct of the banking account |
-- |
|
26)
Buyer visit details |
-- |
|
27)
Financials, if provided |
-- |
|
28)
Incorporation details, if applicable |
-- |
|
29)
Last accounts filed at ROC |
-- |
|
30)
Major Shareholders, if available |
-- |
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.56.05 |
|
|
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.69.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
11 |
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.