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Report Date : |
24.01.2014 |
IDENTIFICATION DETAILS
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Name : |
INDIA STEEL (PTY)LTD |
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Registered Office : |
No 1 Van Till Road,
Alrode, 1451 |
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Country : |
South Africa |
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Date of Incorporation : |
26.02.2004 |
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Com. Reg. No.: |
M2004/005163 |
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Legal Form : |
Private Company |
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Line of Business : |
Exporting of steel and
wholesale of steel |
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No. of Employees : |
180 employees |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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 |
South Africa - ECONOMIC OVERVIEW
south Africa is a middle-income, emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors; a stock exchange that is the 18th largest in the world; and modern infrastructure supporting a relatively efficient distribution of goods to major urban centers throughout the region. Growth was robust from 2004 to 2007 as South Africa reaped the benefits of macroeconomic stability and a global commodities boom but began to slow in the second half of 2007 due to an electricity crisis and the subsequent global financial crisis' impact on commodity prices and demand. GDP fell nearly 2% in 2009 but recovered in 2010-11. Unemployment remains high and outdated infrastructure has constrained growth. State power supplier Eskom encountered problems with aging plants and meeting electricity demand necessitating "load-shedding" cuts in 2007 and 2008 to residents and businesses in the major cities. Daunting economic problems remain from the apartheid era - especially poverty, lack of economic empowerment among the disadvantaged groups, and a shortage of public transportation. South Africa''s economic policy is fiscally conservative focusing on controlling inflation and attaining a budget surplus. The current government largely follows these prudent policies but must contend with the impact of the global crisis and is facing growing pressure from special interest groups to use state-owned enterprises to deliver basic services to low-income areas and to increase job growth.
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Source : CIA |
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Subject Name |
INDIA STEEL (PTY)LTD |
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Country |
South Africa |
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Subject Contact Person |
Director - SACHINI AHUJA |
|
Assessment |
This is a
well-established business. On investigation we
made contact with the subject and we were referred to the Director MR SACHINI
AHUJA who assisted with all the information required. The subject is meeting
commitments timeously with it's suppliers. We have obtained a bank
code C for an amount of R 5 000 000 over a period of 30 Days. CIPC information states
that the director SACHINI AHUJA has resigned, however on contact MR. AHUJA
stated that he is still active in the company. We await documentation
stating MR. AHU JA's position in the company. Once this is received, the
information will be compiled and forwarded. Please see the available
information on the subject below. |
|
Registered Name |
INDIA STEEL (PTY)LTD |
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Trading as/ Division Name |
INDIA STEEL |
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Registration Number |
M2004/005163/07 |
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Registration Date |
2004/02/26 |
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Date Commenced Trading |
2004-02-26 |
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Age of Business |
8 Years 8 Months |
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History of Business |
The subject started as a new
business in 2012. |
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History of Principals |
There is 2 active directors within
the company. |
|
Shareholders/Members/Partners of
subject and % holding |
100% - SACHINI
AHUJA |
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Authorised Share Capital |
R1000.00 |
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Issued Share Capital/Members
Contribution |
R 100.00 |
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Status |
In Business |
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Operations Assessment |
Exporting of steel and wholesale
of steel |
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Industry/ Customers |
Manufacturing industry. |
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Export |
Yes |
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Export Countries |
India |
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Major Industry Code / SICC |
35101 |
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Definition of Code |
Basic iron
and steel industries, except steel pipe and tube mills |
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Head Office Physical Address |
No 1 van Till Road, ALRODE, 1451 |
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Head Office Postal Address |
PO Box 4177, RIVONIA, 2128 |
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Current Tel Number |
0119089440 |
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Cell Number |
0845240240 |
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Current Fax Number |
0119089440 |
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Current Email Address |
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Web Site Address |
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Company
Registered Name |
TICHAUER
& BLOCH CA (SA) |
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Registration
Number |
Partnership |
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Physical
Address |
21 7th
Avenue PARKTOWN NORTH2121 |
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Postal
Address |
PO BOX
464, PARKLANDS, 2121 |
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Contact
Person |
MARK |
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Contact
Number |
011
4426623 |
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Email |
|
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Principals |
2 |
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Subject
Verified as Client |
Yes |
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Practice
Number |
936677E |
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Financial
Year End |
February |
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No of
years in Business |
20 |
Previous Auditors
|
Company Name |
Phone Number |
Time with previous auditors |
Comment |
|
GJ VD MERWE CA (SA) |
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6 |
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|
DOUGLAS DIX -PEEK AND COMPANY |
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Unknown |
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|
LAMBAT AND POCHEE |
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Unknown |
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GRYLING VD MERWE CA (SA) |
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3 |
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Vat Number |
4200212092 |
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Status |
ACTIVE |
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Vat Liable Date |
2004/05/01 |
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Tax Number |
9234635150 |
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Financial Year End |
February |
Black Economic Empowerment Information - No
Information on Record
ISO Information - No Information on Record
Workman's compensation
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Registered |
Yes |
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Compliance Certified |
Yes |
Company Structure
Subsidiaries Information - No Information on Record
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Employees |
||||
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Number of Employees |
180 |
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1. Salaried employees |
180 |
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2. Waged employees |
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3. Permanent employees |
180 |
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Company
Fleet |
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Company Fleet |
No of vehicles: |
Owned/Leased |
Value |
Outstanding Balance |
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Fleet Operations |
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The Fleet is made up of |
7 |
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Comment |
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Cars |
7 |
Owned |
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Offices |
Offices |
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Head
Office Owned/ Rented |
Owned |
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Owned by |
INDIA
STEEL (PTY)LTD |
|
Value |
R
45000000.00 |
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Type of
Premises |
Offices
,factory and a warehouse |
Branch Information - No Information on Record
Organisation
Chart
|
Level |
Position |
Name |
Comment |
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|||
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1 |
Director |
SACHINI AHUJA |
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Company Structure (Ownership)
Note: One
level up and all levels down
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Holding |
Company |
Sub |
Comment |
|
100% |
SACHINI AHUJA |
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Key Deals - No Information on Record
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Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial
Bonds |
Comment |
|
1 |
RICHARDS SCRAP METALS |
0114121118 |
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2 |
ADS OPTICAL |
0798938509 |
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3 |
ASLAMMITTIL SA |
0168899111 |
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Nr |
Age of Acc |
Credit
Limit |
Max Credit |
Terms |
Average
Purchases |
Terms Taken |
Comment |
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1 |
5 Years |
|
R 2500000 |
30 Days |
R 200000 |
30 Days |
Excellent |
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2 |
3 Years |
R1000000.00 |
R 400000 |
30 Days |
R 200000 |
30 Days |
Very Good |
|
3 |
2 Years |
R 3000000.00 |
R 5000000 |
30 Days |
R 2500000 |
30 Days |
Execellent
Account |
Judgements - No
information on record
Business Rescue
- No Information on Record
Default Listing
- No information on record
Notarial Bonds - No information on record
|
Bank |
NEDBANK |
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Branch |
WESTRAND |
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Bank Account Number |
1286093619 |
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Type of Account |
CURRENT |
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Account Name |
INDIA STEEL(PTY)LTD |
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Overdraft Facilities |
Yes |
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Bank Code |
C For R 5 000 000 |
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Bank Comment |
The subject's bankers consider
them good for all business normal engagements |
Bank
Code History - No Information on Record
Previous
Bank Account Information - No Information on Record
Property Interests for Company
lNDIA STEEL (PTY)LTD
|
Title Deed No. |
T34128/2010 |
Erf/Site No. |
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Deeds Office |
PRETORIA |
Physical Address |
MORNINGSIDE SANDTON |
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Property Type |
Freehold / Ervin |
Extent / Size |
527.0SQM |
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Purchase Date |
2009/02/23 |
Purchase price |
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% Ownership |
0.00 |
Bond Holder |
NEDBANK LTD |
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Bond Number |
B217462010 |
Bond Amount |
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|
Comment |
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Title Deed No. |
T17849/2008 |
Erf/Site No. |
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Deeds Office |
PRETORIA |
Physical Address |
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Property Type |
Farms |
Extent / Size |
4.9771 H |
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Purchase Date |
2007/09/15 |
Purchase price |
|
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% Ownership |
0.00 |
Bond Holder |
STANDARD BANK OF SOUTH AFRICA L |
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Bond Number |
B167172008 |
Bond Amount |
|
|
Comment |
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Title Deed No. |
T17849/2008 |
Erf/Site No. |
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Deeds Office |
PRETORIA |
Physical Address |
ALRODE ALBERTON |
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Property Type |
Farms |
Extent / Size |
5770.0SQM |
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Purchase Date |
2007/09/15 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
TOTAL SOUTH AFRICA PTY LTD |
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Bond Number |
K1801997L |
Bond Amount |
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Financial
estimates
|
Stock |
R 35000000.00 |
|
Debtors |
R 25000000.00 |
|
FIXED ASSETS |
R 65000000.00 |
|
Creditors |
R 2000000.00 |
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Previous Year Turnover |
R 255000000.00 |
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Estimated Current Year Turnover |
R 450000000.00 |
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Current Turnover per month |
R 45000000.00 |
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Current Turnover per annum |
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Comment |
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Please note the following: |
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Turnover and assets less than R 1,000,000.00 |
The subject falls within the
National Credit Act |
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Turnover and assets less than R 2,000,000.00 |
The subject falls within the
Consumer Protection Act |
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Number of Principals |
0 |
|
Average Age of Active Principals |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.99 |
|
UK Pound |
1 |
Rs.102.67 |
|
Euro |
1 |
Rs.83.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.