|
Report Date : |
21.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
DORF KETAL SPECIALITY CATALYST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1, Dorf Ketal Tower, D Monte Street, Orlem, Malad (West), Mumbai –
400064, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.01.2010 |
|
|
|
|
Com. Reg. No.: |
11-198273 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.370.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24233MH2010PTC198273 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD17731A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCD3088K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Specialty Chemicals. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1900000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is a 99.8 per cent subsidiary of Dorf Ketals Chemicals India Private Limited. Subject is a well established company having a satisfactory track
record. The company has performed well during the current year. Company has a
strong managerial business and financial support from its parent company. Financially seems to be strong. Trade relations are reported to be
fair. Business is active. Payments are
reported to be usually correct and as per commitments. The company can be considered for normal 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED BY
|
Name : |
Mr. Sudarshan |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-22-28833900 |
|
Date : |
18.02.2013 |
LOCATIONS
|
Registered Office : |
1, Dorf Ketal Tower, D Monte Street, Orlem, Malad (West), Mumbai –
400064, Maharashtra, India |
|
Tel. No.: |
91-22-28880420/ 21/ 22/ 23/ 28833901 |
|
Fax No.: |
91-22-28813655 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
107500 sq ft |
|
Location : |
Owned |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Sudhir Vijayaraghav Menon |
|
Designation : |
Director |
|
Address : |
5/501, Swapna Lok, Marve Road, Malad (West), Mumbai – 400064,
Maharashtra, India |
|
Date of Birth/Age : |
27.06.1963 |
|
Qualification : |
Chemical Engineer, LLB, MBA |
|
Date of appointment
: |
01.01.2010 |
|
PAN No.: |
AAJPM4604R |
|
DIN No.: |
02487658 |
|
|
|
|
Name : |
Mr. Subodh Vijayaraghava Menon |
|
Designation : |
Director |
|
Address : |
401, Swapna Lok, Marve Road, Malad (West), Mumbai – 400064,
Maharashtra, India |
|
Date of Birth/Age : |
08.08.1971 |
|
Qualification : |
B.Sc. |
|
Date of Appointment |
01.01.2010 |
|
PAN No.: |
AAAPM6916D |
|
DIN No.: |
00972842 |
|
|
|
|
Name : |
Mr. Naresh Prakashchand Aggarwal |
|
Designation : |
Director |
|
Address : |
Plot No.20, Rajkamal Apartment, Chruch Road, Marol, Andheri (East),
Mumbai – 400 059, Maharashtra, India |
|
Date of Birth/Age : |
28.03.1951 |
|
Date of Appointment : |
12.08.2010 |
|
DIN No.: |
00940482 |
KEY EXECUTIVES
|
Name : |
Mr. Sudarshan |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sudhir V Menon |
|
2500 |
|
Subodh V Menon |
|
2500 |
|
Dorf Ketal Chemicals Private Limited, India |
|
36995000 |
|
|
|
|
|
Total
|
|
37000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Specialty Chemicals. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|||||||||||||||||||||
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|||||||||||||||||||||
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Bankers : |
· Axis Bank Limited, Laxmi The Mall, Building No 5, Laxmi Industrial Estate, New Link Road, Andheri (West), Mumbai - 400053, Maharashtra, India · Axis Bank Limited, Corporate Banking Branch, Axis House, Ground Floor, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
Notes: 1. ECB from Axis Bank • The above ECB Loan from Axis Bank aggregating Rs. 516.671 Millions (2011: Rs. 406.260 Millions) is secured by a charge on project land and building and all future fixed assets and current assets proposed to be acquired and is repayable in 16 quarterly installments starting October 2011. The Loan is guaranteed by the Directors, Sudhir Menon and Subodh Menon, by Dorf Ketal Chemicals India Private Limited and by Dorf Ketal Speciality Catalysts LLC, USA. 2. An amount of Rs. 162.433 Millions (2011: Rs. 71.698 Millions) of Foreign Currency Loan which is repayable within 12 months has been grouped under Other Current Liablities. • The above Foreign Currency Term Loan from State Bank of India aggregating Rs. 246.207 Millions (2011: Rs. 124.135 Millions) is secured by a charge on land and building and all fixed assets proposed to be acquired and is repayable in 16 quarterly installments starting December 2011. The Loan is guaranteed by the Directors, Sudhir Menon and Subodh Menon, and by Dorf Ketal Chemicals India Private Limited. 3. Foreign Currency Loans - Packing Credit Rs.300.805 Millions Foreign Currency Loans - Buyers Credit Rs.133.054 Millions. 4. The above Loans are secured by a charge on current assets of the company both present and future. The Loans are guaranteed by the Directors, Sudhir Menon and Subodh Menon, and by Dorf Ketal Chemicals India Private Limited. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.S. Gajja and Company Chartered Accountants |
|
Address : |
402 Maker, Bhavan No 3 21, New Marine Lines, Mumbai – 400020, Maharashtra, India |
|
E-Mail : |
|
|
PAN No.: |
AAAFS4063K |
|
|
|
|
Fellow Subsidiary Company
: |
Dorf Ketal Speciality Catalyst, LLC |
|
|
|
|
Holding Company : |
Dorf-Ketal Chemicals India Private Limited CIN No.: U24100MH1992PTC066726 |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs.400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
37000000 |
Equity Shares |
Rs.10/- each |
Rs.370.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
370.000 |
26.000 |
26.000 |
|
|
2] Share Application Money |
0.000 |
297.611 |
0.108 |
|
|
3] Reserves & Surplus |
128.395 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(0.350) |
0.000 |
|
|
NETWORTH |
498.395 |
323.261 |
26.108 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1030.833 |
458.697 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1030.833 |
458.697 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1529.228 |
781.958 |
26.108 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
891.955 |
4.820 |
0.000 |
|
|
Capital work-in-progress |
53.875 |
702.477 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
61.153 |
24.249 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
173.075
|
62.081 |
0.000 |
|
|
Sundry Debtors |
497.961
|
32.482 |
0.809 |
|
|
Cash & Bank Balances |
81.057
|
21.087 |
0.000 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Other Non Current Assets |
2.349
|
0.323 |
0.000 |
|
|
Loans & Advances |
24.667
|
15.019 |
25.041 |
|
Total
Current Assets |
779.109
|
130.992 |
25.850 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
46.580
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
195.572
|
74.101 |
0.067 |
|
|
Provisions |
14.712
|
6.479 |
0.028 |
|
Total
Current Liabilities |
256.864
|
80.580 |
0.095 |
|
|
Net Current Assets |
522.245
|
50.412 |
25.755 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.353 |
|
|
|
|
|
|
|
|
TOTAL |
1529.228 |
781.958 |
26.108 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
Profit |
|
|
128.746 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
0.000 |
0.000 |
|
|
|
Other Income |
|
0.096 |
0.000 |
|
|
|
TOTAL |
|
0.096 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase |
|
0.000 |
0.000 |
|
|
|
Direct Expenses |
|
0.000 |
0.000 |
|
|
|
Other Expenses |
|
0.306 |
0.000 |
|
|
|
TOTAL |
|
0.306 |
0.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
(0.210) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
(0.210) |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.110 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(0.320) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(0.320) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(0.320) |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
(0.12) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA |
(333.33) |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
(0.24) |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
(0.10) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.07 |
1.42 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.03 |
1.63 |
272.11 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors |
46.580
|
0.000 |
0.000 |
|
|
|
|
|
|
Total |
46.580
|
0.000 |
0.000 |
|
Sr. No. |
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 |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last two year |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
REVIEW OF OPERATIONS
During the year, the Company has made a profit of Rs. 128.746 Millions
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
(Rs. In Millions)
|
Particular |
31.03.2012 |
31.03.2011 |
|
In respect of Bank Guarantees |
24.000 |
0.000 |
|
In respect of Letter of Credit |
7.719 |
0.000 |
|
In respect of Corporate Guarantee issued in favor of State bank of India New York for Term Loan extended to its Ultimate Subsidiary Dorf Ketal Speciality Catalyst LLC. |
990.000 |
990.000 |
FIXED ASSETS:
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
Intangible assets
· Computer Software
· Copyrights
· Patents
AS PER WEBSITE DETAILS:
Press Release
GUJARAT HIGH COURT
ORDERS SUSPENSION OF OPERATIONS OF COMPANIES IN APSEZ
February 14, 2013,
09.27PM IST
AHMEDABAD: Twelve companies operating in the Adani Port and Special Economic Zone at Mundra in Kutch will have to suspend their operations, following an order by Gujarat High Court, as environmental clearance for the project is not granted.
These companies include Ahistrom Fiber Composites (India) Private Limited, Aadi Oil Private Limited, Empezar Logistics Private Limited, Avesta Engineering Private Limited, Ashapura Garments Limited, Terram Geosynthetics Private Limited, Theramax Limited, Skaps Industries, Oilfield Warehouse and Services, Dorf Ketal Speciality Catalyst Private Limited, Anjani Udyog Private Limited and Oriental Carbon Chemicals Limited.
The court has also asked all the respondants to reply within 15 days.
The High Court had in May last year, ordered stopping of all development activities in the upcoming SEZ till the Union Ministry of Environment and Forest (MoEF) gives it an environment clearance.
The move is a result of a Public Interest Litigation ( PIL) filed last year by villagers of Navinal village in Mundra, who alleged that these companies had also imported and exported goods even as the environment clearance is awaited.
DORF KETAL ACQUIRES
SPECIALTY CATALYSTS BUSINESS FROM DUPONT CHEMICALS AND FLUOROPRODUCTS
MUMBAI, India, Jan. 28 /PRNewswire/ -- Dorf Ketal Chemicals (India) Private Limited, a leading specialty
chemicals company headquartered in Mumbai, India, with facilities in Stafford,
Texas, has acquired the Specialty Catalysts Business of DuPont Chemicals and
Fluoroproducts through a new LLC company in the USA with immediate effect. This
acquisition includes Tyzor® titanates and zirconates and Avitex® hydrocarbon
surfactants and antistatic agents used in a broad range of specialty markets
and applications. Terms of the agreement are confidential and not being
disclosed.
Dorf Ketal earlier completed the acquisition
of Intec Polymers in May 2009, and with this current acquisition from DuPont
Chemicals and Fluoroproducts will become global leaders in this market segment.
These products find applications across several industries spanning across Oil
and Gas, Paints and Coatings, Printing Inks, Industrial Sealants, Corrosion
Protection and Emission Reduction. This acquisition allows Dorf Ketal to
integrate the Specialty Catalyst business into the Company's existing portfolio
of products they currently sell into similar uses.
As a part of the deal, Dorf Ketal acquires
assets associated with the Specialty Catalysts Business including sales,
marketing and customer service.
To assist with an orderly customer transition,
a business transition team has been formed. DuPont will continue to manufacture
and supply Specialty Catalyst products to Dorf Ketal for approximately one year
under service and supply agreements. During this time, Dorf Ketal will source
and supply products made by DuPont Chemicals and Fluoroproducts while building
a new plant. DuPont also is assisting Dorf Ketal with the technology transfer
and start-up of new facilities.
The transition will be implemented in stages
while ensuring business continuity for all customers. This transaction
underscores Dorf Ketal's commitment to grow and deliver world-class products,
services and enhanced value to customers on a consistent basis. The integration
will be seamless, providing customers the ability to leverage Dorf Ketal's
world-class products, service and technology.
Dorf Ketal is one of the most rapidly growing
global specialty chemical companies in recent times. In less than two decades,
Dorf Ketal has emerged as a leading supplier of specialty chemicals for
downstream hydrocarbon and relevant ancillary industries. Dorf Ketal has a
strong focus on research and development helping achieve manufacturing
excellence. In recent years, Dorf Ketal has successfully acquired and
integrated four businesses including UOP's Refining Chemicals and Plastics
Additives business in 2001 and 2003 respectively, ExxonMobil's component
lubricant additive business in 2007 and Intec Polymers' Organometallic Titanates in 2009 into their product
offerings.
Commenting on the acquisition, Mr. Subodh
Menon, Founder/Director- Business and Operations, Dorf Ketal said, "The
acquisition will consolidate our position as a global leader in the business of
specialty catalysts. We are embarking on an ambitious project and a world class
manufacturing facility to cater to these newer product lines is being planned
at a new plant site in India. Dorf Ketal is focused on growth and the group
aims to achieve a turnover exceeding $500 million in the next few years,
"commented Mr. Menon.
Ernst and Young Private Limited was the M and
A advisor to Dorf Ketal on the transaction while SBI Caps acted as the
financial advisors.
About Dorf Ketal:
Dorf Ketal, headquartered in Mumbai, is a
global player in process chemicals, and additives for refineries,
petrochemicals, fuels, plastics, lubricants and oilfield industries. Dorf Ketal
has subsidiaries in the USA, Brazil, the Netherlands and Representative offices
in China and Bahrain. In a relatively brief span of less than 15 years, Dorf
Ketal has emerged as the largest Indian additives manufacturer of process
chemicals and additives in the niche product segment of hydrocarbons used in
refineries, petrochemical plants, plastics additives and lube additives. Within
the large industry of specialty chemicals, the customized solutions and
specialized services that the company offers have helped it secure a unique
position in serving the specialized refinery and petrochemical segment. The
company operates a global distribution network with supply points in all major
regions. Dorf Ketal's State-of-the-Art Manufacturing Plant and Technology
Center are located about 60 kilometers away from Mumbai. The company is
certified to ISO-9001, ISO-14001 and ISO-18001 Standards by Det Norske Veritas
(DNV). Dorf Ketal Chemicals has been a recipient of several awards for
significant accomplishments in their business.
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 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.05 |
|
|
1 |
Rs.83.45 |
|
Euro |
1 |
Rs.72.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.