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Report Date : |
18.09.2013 |
IDENTIFICATION DETAILS
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Name : |
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Registered
Office : |
98, Jolly Maker
Chambers No.2, 225, Nariman Point, Mumbai 400 021, |
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Country : |
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Year of
Establishment : |
2006 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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Legal Form : |
Partnership concern with an unlimited liability of the partners |
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Line of Business
: |
Manufacturer of Cast Polypropylene (CPP) Films and Barrier
Laminates. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Mr. Shyam, The Accounts Manager has denied to disclose any detail of
the subject to us. No further information could be made available. Payment terms are
unknown. The subject can be considered for business dealings on a safe and
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.
INDIAN ECONOMIC OVERVIEW
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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 DECLINED BY
|
Name : |
Mr. Shyam |
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Designation : |
Accounts Manager |
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Contact No.: |
91-251-3081200 |
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Date : |
18.09.2013 |
LOCATIONS
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Registered Office/ Head Office : |
98, Jolly Maker
Chambers No.2, 225, Nariman Point, Mumbai 400 021, |
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Tel. No.: |
91-22-30011700 |
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Fax No.: |
91-22-22023774 |
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E-Mail : |
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Website : |
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Factory : |
B-84, MIDC Anand
Nagar, Additional Ambernath, District Thane – 421 506, |
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Tel. No.: |
91-251-3081200,
2620004, 2621246, 2621979 |
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Fax No.: |
91-251-2621978 |
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E-Mail : |
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Commercial Office : |
202, A – Wing,
Sector – 15, The Great Eastern Summit, CBD Belapur, Navi Mumbai - 400 614, |
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Tel. No.: |
91-22-39211400 |
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Fax No.: |
91-22-39211430 |
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International Office : |
Positive Packaging Europe 5th
Floor, 116 Baker Street, London W1U 6TS, United Kingdom |
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Tel. No.: |
+ 44
(0) 20 7935 7124 |
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Fax No.: |
+ 44
(0) 20 7935 6495 |
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E-Mail : |
PARTNERS
PARTNER’S NAME - NOT DIVULGED
KEY EXECUTIVES
|
Name : |
Mr. Shyam |
|
Designation : |
Accounts Manager |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cast Polypropylene (CPP) Films and Barrier
Laminates. |
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|
|
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Products : |
CPP range
includes: v
Transparent v
Opaque v
Metallisable / Metallised Films |
GENERAL INFORMATION
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No. of Employees : |
Information declined by the management |
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Bankers : |
Not Divulged |
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Banking
Relations : |
-- |
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Auditors : |
Not Divulged |
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Associates : |
INDIA OPERATIONS Acuprint Systems
Address: Plot No. V-26, MIDC Taloja Industrial Area, District Raigad -
410 208, Maharashtra, India Tel. No.: 91-22-39211600 Fax No.: 91-22-39211610 E-Mail: acuprint@acuprintsystems.com Website: www.acuprintsystems.com Acuprint Systems Address:
Plot No.21-23, Bommasandra-Jigani Link Road, KIADB Industrial Area, Bengaluru
- 562 106, Karnataka, India Tel. No.: 91-80-30565000 Fax No.: 91-80-30565100 E-Mail: marketingblr@acuprintsystems.com Positive
Packaging Industries Address: Village Ransai, Km. 16, Khopoli - Pen Road, P.B No.37,
Taluka, Khalapur, Khopoli – 410 203, Maharashtra, India Tel. No.: 91-2192-391300 Fax No.: 91-2192-391310 E-Mail: factory@positivepackaging.com / positive@positivepackaging.com
Website: www.positivepackaging.com Sai Metaplast Address: Plot No.L-19, MIDC Taloja Industrial Area, Taluka Panvel,
District Raigad - 410 208, Maharashtra, India Tel. No.: 91-22-39212000 Fax No.: 91-22-39212020 E-Mail: saimet@saimetaplast.com Website: www.saimetaplast.com NIGERIA
OPERATIONS Fine Chemicals Nigeria Limited Address: 1-5 Fine Avenue, Off Veepee Industrial Avenue, K.M. 38 Lagos/Abeokuta Road, Sango, Otta, Ogun State, Nigeria Tel. No.: + 234 1 7741345 Fax No.: + 234 1 2719409 E-Mail: cylinders@finechemicalsltd.com Positive Packaging Industries Nigeria Limited Address: Plots L and K, Block 1, Ilupeju Industrial
Estate, P.O. Box No. 2701(Marina), Lagos, Nigeria Tel. No.: + 234 1 496 8340/1, 7927300 Fax No.: + 234 1 496 8342, 555 0580 E-Mail: marketing@positivenigeria.com U.A.E.
OPERATIONS Positive Packaging United (M.E) FZCO, certified
under BRC, has rotogravure and flexographic printing Address: P.O. Box 17032,
Jebel Ali Free Zone, Dubai (U.A.E) Tel. No.: + 971 4 881 5111 Fax No.: + 971 4 881 5572 E-Mail: positive@positivedubai.com Website: www.positivedubai.com Positive Packaging Middle East (LLC) [Formerly Dubai Flex Pack (LLC)] Address: P.O. Box 120882, Dubai, U.A.E. Tel. No.: + 971 4 885 3411 Fax No.: + 971 4 885 3422 E-Mail: positive@positivedubai.com Website: www.positivedubai.com Positive Packaging (M.E.) (FZE) Address: P.O. Box 122042, Sharjah, U.A.E. Tel.
No.: + 971 6 557 2866 Fax No.:
+ 971 6 557 5047 E-Mail: positive@positivedubai.com Website:
www.positivedubai.com Primetech (M.E.) FZCO Address: Plot No.S11305, P.O. Box: 17032, Jebel Ali Free Zone, Dubai
(U.A.E) Tel. No.: + 971 4 886 1242 Fax No.: + 971 4 886 1243 E-Mail: primetech@primetechdubai.com Website: www.primetechdubai.com |
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. Shyam.
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
LOCAL AGENCY FURTHER INFORMATION
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Sr. No. |
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
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2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
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4] |
Premises details |
No |
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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 |
No |
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8] |
No. of employees |
No |
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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 |
No |
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17] |
Major suppliers |
No |
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18] |
Major customers |
No |
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19] |
Payments terms |
No |
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20] |
Export / Import details (if applicable) |
No |
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21] |
Market information |
-- |
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22] |
Litigations that the firm / promoter involved in |
-- |
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23] |
Banking Details |
No |
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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 |
No |
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29] |
Last accounts filed at ROC |
No |
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30] |
Major Shareholders, if available |
No |
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31] |
PAN of Proprietor/Partner/Director, if available |
No |
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32] |
Date
of Birth of Proprietor/Partner/Director, if available |
No |
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33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
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34] |
External Agency Rating, if available |
No |
WEBSITE DETAILS:
PROFILE:
Subject manufactures Cast Polypropylene (CPP) films and barrier laminates and
is a part of the Enpee Group, an international conglomerate, having
manufacturing facilities in
Subject is ISO 9001:2000 and BRC / IoP (British Retail Consortium /
Subject is strategically located on the outskirts of Mumbai, the commercial
capital of
Subject manufactures a variety of specialised films for high barrier, high seal
strength and other specialty applications.
In-house R and D, a
fully equipped laboratory with rigorous process controls, quality testing and
inspection, have been the key to a rich and varied satisfied customer base.
Being a part of the
Positive Packaging Group gives subject a
distinct cutting edge of having cylinder engraving, barrier metallising and
polyethylene film manufacturing within its fold. Subject on its part, lends synergy to the
group's packaging activities.
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] 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.63.37 |
|
|
1 |
Rs.100.85 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Report Prepared
by : |
TPT |
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.