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Report Date : |
07.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
J V SEAMLESS |
|
|
|
|
Registered
Office : |
Office No. 109, Ground Floor, Coover
Building, 1st Parsiwada, C.P. Tank,
Mumbai – 400004, Maharashtra |
|
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|
|
Country : |
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|
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Date of
Incorporation : |
03.06.2013 |
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Com. Reg. No.: |
11-243956 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.500 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U74120MH2013PTC243956 |
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|
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of SS Scrap and SS Pipes. |
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|
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No. of Employees
: |
7 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2000 |
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|
|
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was established as proprietary concern during the year 2010
with the name of “RAFIQ ALIYANI”. It got converted as privet Limited company
in the year 3rd June 2013 with the name of “J V SEAMLESS INDIA
PRIVATE LIMITED”. Mr. Sunil Solanki, accounts manager has
provided information to us. Further he also provided sales turnover for
proprietary concern of 48 Cr. Which is not verified. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under control,
said the agency. Ratings firm Crisil has forecast 6 %
growth for 2014/15 up from the estimated 4.8 % for 2013/14. Total
economic growth, infrastructure bottlenecks and lack of transparency and
consistency in foreign direct investment policies seem to have taken a toll on
India’s attractiveness as an investment destination, says an Ernst & Young
survey. Projects with FDI component fell 16.4 % across the globe in 2012
from the previous year. The drop in India was steeper at 21 %. State run
carrier Air India is doling out free tickets to its 24000 employees, even as it
expects to incur a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn. 550000 number of
jobs generated across India in 2013, a fall of 0.4 % as compared to with a year
earlier. The National Capital Region has a one-fourth share in total jobs
created, according to a study by industry lobby group Assochem,
Banks, real estate, automobile and telecommunications sectors are showing a
rise of job creation. $ 805 mn investments by venture
capital firms in India during 2013, registering a drop of about 18 % over the
previous year. The Information Technology and IT-Enabled Services Industry
retained its status as the favourable venture capital
investors in 2013. Pakistan has temporarily banned gold imports for the second
time in six months, as it tries to stem smuggling into India. India’s import
duty on gold is 10 % and curbs on purchases have dried up legal imports into
what used to be the world’s biggest bullion buyers. The World Gold Council puts
the amount smuggled into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed that
unclaimed bank deposits estimated to be about Rs
35000 mn be used for education and awareness among
depositors. According to the plan, deposits that have not been claimed
for at least 10 years will be transferred to the scheme.
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 PARTED BY
|
Name : |
Mr. Mohd Farhan Adhiya |
|
Designation : |
Director |
|
Contact No.: |
91-9820085650 |
|
Date : |
04.03.2014 |
|
Name : |
Mr. Sunil Solanki |
|
Designation : |
Account Manager |
|
Date : |
04.03.2014 |
LOCATIONS
|
Registered Office : |
Office No. 109, Ground Floor, Coover
Building, 1st Parsiwada, C.P. Tank,
Mumbai – 400004, Maharashtra, India |
|
Tel. No.: |
91-22-23867806 |
|
Mobile No.: |
91-9820085650 (Mr. Mohd Farhan
Adhiya) |
|
Fax No.: |
91-22-23867806 |
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E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Warehouse : |
Anjur Phata, Bhiwandi, India |
DIRECTORS
As on: 17.05.2013
|
Name : |
Mr. Mohd Farhan Adhiya |
|
Designation : |
Director |
|
Address : |
Flat No. B-204, ZIA Apartments, Co-operative Housing Society Limited,
2nd Floor, 264, Bellasis Road, Mumbai –
400008, Maharashtra, India |
|
Date of Birth/Age : |
19.07.1992 |
|
DIN No.: |
06519803 |
|
|
|
|
Name : |
Mr. Mehvish Mohammed Shafi
Adhiya |
|
Designation : |
Director |
|
Address : |
18, Carbon Building (R. K. Building), Old Bangalipura
Street, 3rd Floor, Room No.10, Mumbai – 400003, Maharashtra, India |
|
Date of Birth/Age : |
21.05.1989 |
|
DIN No.: |
02680399 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 17.05.2013
|
Names of Shareholders |
|
No. of Shares |
|
Mohd Farhan Adhiya |
|
2500 |
|
Mehvish Mohammed Shafi Adhiya |
|
2500 |
|
|
|
|
|
Total |
|
5000 |
BUSINESS DETAILS
|
Line of Business : |
Trader of SS Scrap and SS Pipes. |
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Imports : |
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Products : |
Scrap |
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Countries : |
China |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Sanjini Impex – CP Tank
|
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Customers : |
Wholesalers and Retailers |
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No. of Employees : |
7 (Approximately) |
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Bankers : |
HDFC Bank, Gulal Wadi
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
J. N. Chawdhary and Company Chartered Accountants |
CAPITAL STRUCTURE
As on: 17.05.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
NOT AVAILABLE
Expected Sales (2013-2014): Rs. 500.000
Millions
The above information has been parted by Mr. Mohd.
Farhan (Director)
RAFIQ
ALIYANI (PROPRIETOR)
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
480.000 |
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LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
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 |
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 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 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. 61.32 |
|
|
1 |
Rs. 102.55 |
|
Euro |
1 |
Rs. 84.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.