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MIRA INFORM REPORT
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Report No. : |
486110 |
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Report Date : |
30.01.2018 |
IDENTIFICATION DETAILS
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Name : |
VINAYAK PHARMA CHEM EQUIPMENT |
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Registered
Office : |
Plot No. 47-56, Sector-1B, Sidcul I.I.E, Haridwar – 249 403, Uttarakhand, |
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Mobile No.: |
91-9819873843 (Mr. Pradeep Mathodia) |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Year of
Establishment: |
2010 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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TIN No.: |
Not Available |
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IEC No.: |
Not Applicable (As informed by the management that firm
does not have export and import) |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AANFV2660C |
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GSTIN/UIN : |
05AANFV2660C1ZA |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
: |
Manufacturer of Prickly Heat Talcum Powder. (Confirmed by management) |
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No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 143000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a partnership concern established in the year 2010. It is a manufacturer of prickly heat talcum powder. Mr. Pradeep Mathodia (Finance Manager) has claimed that the subject achieved sales turnover of INR 500.0000 million for the FY 2016 and INR 500.000 million for the FY 2017. Payments seems to be slow but correct. In view of aforesaid, the concern can be considered for business dealings at usual trade terms and conditions. Note 1: Site visit was conducted at the address (Plot No. 47-56, Sector-1B, Sidcul I.I.E, Haridwar – 249 403, Uttarakhand, India) which you have provided. Our executive has successfully traced the subject on the given address. At the premises, our executive met Mr. Prakashchand Parik (Accounts Manager) who provided his contact no – 9720301800 and further claimed that the subject is situated on the given address. Our executive also enquired with Siddhi Plast India and they confirmed that the subject is situated on the given address since past 5 years and Om Products who claimed that the subject is situated on the premises since past 2 years. As per executive’s observation, it is a shed type premises. Locality seems to be industrial and area appears to be upmarket. Location was easy to find and we have sighted subject’s name board. Note 2: After the site visit, our executive contacted Mr. Prakashchand Parik (9720301800) and he provided the contact number of Mr. Pradeep Mathodia. Further our executive contacted Mr. Pradeep Mathodia and he provided information about the subject to us. Note 3: Site visit will be conducted at the Factory address (Gujarat) of "Manisha Pharmo Plast Private Limited" (Partner) in due course. |
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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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Date |
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 29.01.2018
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 PARTED BY
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Name : |
Mr. Pradeep Mathodia |
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Designation : |
Finance Manager |
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Contact No.: |
91-9819873843 |
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Date : |
29.01.2018 |
(Mobile No.: 91-9318044449/ 7669997815 Does not belongs to subject
company)
(Mobile No.: 91-9027815305 Not working) (Mobile No.: 91-7669997816
Switched off)
LOCATIONS
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Registered Office/ Factory 1 : |
Plot No. 47-56, Sector-1B, Sidcul I.I.E, Haridwar – 249 403,
Uttarakhand,
India |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9819873843 (Mr. Pradeep Mathodia) 91-9720301800 (Mr. Prakashchand Parik) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Area : |
9700 sq. ft. |
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Location : |
Leased |
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Locality : |
Industrial |
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Factory
2 : |
Shed No. A1/ 275/1, GIDC Umbergaon, District: Valsad - 396 171, Gujarat, India |
PARTNERS
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Name : |
Manisha Pharmo Plast Private Limited |
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Designation : |
Partner |
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Name : |
Mr. Munalal Pardeshi |
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Designation : |
Partner |
KEY EXECUTIVES
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Name : |
Mr. Pradeep Mathodia |
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Designation : |
Finance Manager |
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Name : |
Mr. Prakashchand Parik |
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Designation : |
Accounts Manager |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Prickly Heat Talcum Powder. (Confirmed by management) |
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Products : |
Prickly Heat Talcum Powder |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Credit (60/ 65 Days) and Others (RTGS) |
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Purchasing : |
Credit (30/ 90 Days) and Others (RTGS) |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
60 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
S.S. Jhunjunwala and Company Chartered Accountants |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Sister Concern: |
Not Divulged |
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
INR Million]
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Particulars |
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31.03.2017 |
31.03.2016 |
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Sales Turnover (Approximately) |
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500.000 |
500.000 |
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Expected Sales ( 2017 - 2018 ) : INR 500.000 Million
The above information has been parted by Mr. Pradeep Mathodia (Finance
Manager)
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
FINANCIAL ANALYSIS
[all figures are
in INR Million]
YEAR-ON-YEAR GROWTH
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Year on Year Growth |
31.03.2016 |
31.03.2017 |
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(INR In Million) |
(INR In Million) |
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Sales (Approximately) |
500.000 |
500.000 |
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0.000 |
LOCAL AGENCY FURTHER INFORMATION
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Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
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1 |
Year of establishment |
Yes |
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2 |
Constitution of the entity -Incorporation
details |
Yes |
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3 |
Locality of the entity |
Yes |
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4 |
Premises details |
Yes |
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5 |
Buyer visit details |
Yes |
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6 |
Contact numbers |
Yes |
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7 |
Name of the person contacted |
Yes |
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8 |
Designation of contact person |
Yes |
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9 |
Promoter’s background |
No |
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10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
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11 |
Pan Card No. of Proprietor / Partners |
No |
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12 |
Voter Id Card No. of Proprietor / Partners |
No |
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13 |
Type of business |
Yes |
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14 |
Line of Business |
Yes |
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15 |
Export/import details (if applicable) |
No |
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16 |
No. of employees |
Yes |
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17 |
Details of sister concerns |
No |
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18 |
Major suppliers |
No |
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19 |
Major customers |
Yes |
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20 |
Banking Details |
Yes |
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21 |
Banking facility details |
No |
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22 |
Conduct of the banking account |
-- |
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23 |
Financials, if provided |
Yes |
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24 |
Capital in the business |
No |
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25 |
Last accounts filed at ROC, if applicable |
No |
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26 |
Turnover of firm for last two years |
Yes |
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27 |
Reasons for variation <> 20% |
-- |
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28 |
Estimation for coming financial year |
Yes |
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29 |
Profitability for last three years |
No |
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30 |
Major shareholders, if available |
No |
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31 |
External Agency Rating, if available |
No |
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32 |
Litigations that the firm/promoter
involved in |
-- |
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33 |
Market information |
-- |
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34 |
Payments terms |
Yes |
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35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: As confirmed by management the registered office of the company has been shifted from “Selaqui, Industrial Estate, UPSIDC, G-87, Selaqui, Dehradun - 248 197, Uttarakhand, India” to the present address.
OBSERVATION POINTS
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Name of Company : |
VINAYAK PHARMA CHEM EQUIPMENT |
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Address : |
Plot No. 47-56, Sector-1B, Sidcul I.I.E, Haridwar – 249 403, Uttarakhand, India |
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Contact Person : |
91-9720301800 |
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Person to whom we met : |
Mr. Prakashchand Parik |
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Designation : |
Accounts Manager |
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Name Board : |
Sighted |
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Location : |
Easy |
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Landmark (if any) : |
Near Siddhi Plast India |
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Subject situated on : |
Shed type premises |
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Locality : |
Industrial |
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Area : |
Upmarket |
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Visibility of items : |
·
Computers ·
Office Equipments ·
Xerox Machine |
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Furniture items sighted : |
Yes |
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Neighbour’s Interview : |
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i. Name of company : |
Siddhi Plast India |
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Contacted person name : |
Mr. Vijay Pal |
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ii. Name of company : |
OM Products |
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Contacted person name : |
Mr. Nitin Goswami |
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Neighbour’s Overview : |
Existence confirmed |
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Proof of visit : |
Photographs |
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 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
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INR |
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US Dollar |
1 |
INR 63.54 |
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|
1 |
INR 89.82 |
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Euro |
1 |
INR 78.86 |
INFORMATION DETAILS
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Information Gathered
by : |
PNM |
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Analysis Done by
: |
PRI |
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Report Prepared
by : |
SUD |
SCORE FACTORS
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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.