|
|
|
MIRA INFORM REPORT
|
Report No. : |
486085 |
|
Report Date : |
18.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
PIONEER CHLORO ALKALI PRODUCTS |
|
|
|
|
Registered
Office : |
53-A, 1st Floor, Belgium Square, Silver Plaza Complex, Opposite Liner
Bus Stand, Surat-395002, Gujarat |
|
Tel. No.: |
91-261-2421094 / 66341010 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
Not Divulged |
|
|
|
|
Year of
Establishment : |
Not Divulged |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GSTIN : |
Not Divulged |
|
|
|
|
TIN No.: |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Divulged |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Trader
and dealer of chemicals such as acetone, phenol, aniline oil method, nitric
acid, sodium nitrate. [From Indirect Sources] |
|
|
|
|
No. of Employees
: |
8 (Approximately) (As per site visit) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Mr. Nitin Shah (Partner) has only confirmed legal form but he denied
to provide any further information about the subject. As per indirect sources, we could find that the subject is a
partnership firm and it is a trader and dealer of chemicals such as acetone, phenol, aniline oil
method, nitric acid, sodium nitrate. No other information could be made available from any other sources.
Payments are reported to be unknown. In view of aforesaid, the subject can be considered for business dealings
at safe and secured trade terms and conditions. Note: Site visit was conducted at the given address which you provided. Our
executive has successfully traced the subject at the given address. At the premises, our executive met office executive (Name Not
Divulged) but he denied to provide any information about the subject. As per our executive’s observation, it is 10 storey building and
subject is situated at the 1st floor. Location was easy to find
and locality seems to be commercial. Area seems to be upmarket and 8
employees were sighted at the premises. Landmark-Opposite Liner Bus Stand. Name board of the subject was not sighted at the given address but
name board of its sister concern was sighted at the given address i.e.
“Pioneer Chemicals”. |
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 18.01.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
|
Name : |
Mr. Nitin Shah |
|
Designation : |
Partner |
|
Contact No.: |
91-9825043850 |
|
|
|
|
Name : |
Ms. Pooja |
|
Designation : |
Admin Department |
|
Contact No.: |
91-261-2421094 |
|
Date : |
17.01.2018 |
LOCATIONS
|
Registered Office : |
53-A, 1st Floor, Belgium Square, Silver Plaza Complex, Opposite Liner
Bus Stand, Surat-395002, Gujarat, India |
|
Tel. No.: |
91-261-2421094 / 66341010 |
|
Mobile No.: |
91-9825043850 (Mr. Nitin Shah) |
|
Fax No.: |
91-261-2433921 |
|
E-Mail : |
|
|
Locality: |
Commercial (As per site visit) |
PARTNERS (Confirmed by Management)
|
Name : |
Mr. Nitin Shah |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Chirag Shah |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mrs. Anjana Shah |
|
Designation : |
Partner |
KEY EXECUTIVES
|
Name : |
Ms. Pooja |
|
Designation : |
Admin Department |
BUSINESS DETAILS
|
Line of Business : |
Trader
and dealer of chemicals such as acetone, phenol, aniline oil method, nitric
acid, sodium nitrate. [From Indirect Sources] |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Transpex Silox Industry Private Limited |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
8 (Approximately) (As per site visit) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
Not Divulged |
||||
|
|
|
||||
|
Collaborators : |
Not Available |
||||
|
|
|
||||
|
Membership : |
Not Available |
||||
|
|
|
||||
|
Sister Concern : |
|
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
-- |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
INR Million]
NOT DIVULGED
The above information has been denied by Mr. Nitin Shah (Partner)
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
No |
|
2 |
Constitution of the entity – Legal form |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details (As per site visit) |
Yes |
|
5 |
Buyer visit details |
Yes |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
No |
|
14 |
Line of Business |
No |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees (As per site visit) |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
No |
|
24 |
Capital in the business |
No |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
No |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
No |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the Annual
Report |
No |
|
OBSERVATION
POINTS |
|
Name of Company : |
PIONEER CHLORO ALKALI PRODUCTS |
|
|
|
|
Address : |
53-A, 1st Floor, Belgium Square, Silver Plaza Complex, Opposite Liner
Bus Stand, Surat-395002, Gujarat, India |
|
|
|
|
Person to whom we met: |
Office executive (Name not divulged) |
|
|
|
|
Name Board: |
Not Sighted (Sighted name board of sister concern company
“Pioneer
Chemicals” |
|
|
|
|
Location: |
Easy |
|
|
|
|
Landmark (If Any): |
Opposite Liner Bus Stand |
|
|
|
|
Total Floors of the building: |
10 Floors |
|
|
|
|
Subject situated on : |
1st Floor |
|
|
|
|
Locality: |
Commercial |
|
|
|
|
Area : |
Upmarket |
|
|
|
|
No. of Employees
seen at Premises : |
8 |
|
|
|
|
Visibility of
Items: |
|
|
|
|
|
Proof of visit: |
Photograph |
CMT REPORT (Corruption, Money Laundering & Terrorism)
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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
|
INR |
|
US Dollar |
1 |
INR 63.98 |
|
UK Pound |
1 |
INR 88.13 |
|
Euro |
1 |
INR 78.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
BHG |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.