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MIRA INFORM REPORT
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Report No. : |
507080 |
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Report Date : |
02.05.2018 |
IDENTIFICATION DETAILS
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Name : |
J. KIRIT AND BROTHERS |
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Registered
Office : |
3, Gulabi House, 3rd Floor, 111/115, Kazi Syed Street,
Khand Bazar, Mumbai – 400003, Maharashtra |
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Tel. No.: |
91-22-26849911/66312114 /15 |
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Country : |
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Financials (as
on) : |
31.03.2017 |
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Date of
Establishment : |
01.04.1973 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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IEC No.: [Import-Export Code No.] |
0388058765 |
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TIN No.: |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AAAFJ0921F |
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TIN No.: |
27510245514 |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAAFJ0921F1ZV |
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Line of Business
: |
Trader, Dealer,
Exporter, Importer and Distributor of Chemicals. [Confirmed by management] |
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No. of Employees
: |
30 (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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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was established in the year 1973 as a partnership firm and it
is having satisfactory track. It is a trader,
dealer, exporter, importer and distributor of chemicals. Mr. Kirit
Mehta (Partner) has provided general information and revenue figure for the
(FY 2015-16 as INR 850 million and for FY 2016-17 as INR 1150 million). However
financials could not be verified from any sources. The firm
also derives strength from its established track records of business
operation and healthy revenue profile. Trade
relations are reported as fair. Business is active. Payments are usually
correct. The firm
can be considered for business dealings at usual trade terms and
condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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
31-03-2018.
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 02.05.2018
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 (GENERAL DETAILS)
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Name : |
Mr. Kirit Mehta |
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Designation : |
Partner |
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Contact No.: |
91-98206849911 |
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Date : |
26.07.2017 |
LOCATIONS
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Registered Office : |
3, Gulabi House, 3rd Floor, 111/115, Kazi Syed Street,
Khand Bazar, Mumbai – 400003, Maharashtra, India |
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Tel. No.: |
91-22-26849911 / 66312114 /15 |
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Mobile No.: |
98206849911 (Mr. Kirit Mehta) |
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Fax No.: |
91-22-26849906 |
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E-Mail : |
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Website : |
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Area : |
10000 sq. ft. |
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Location : |
Owned |
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Locality: |
Industrial |
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Sales and Administrative Office : |
5 and 6, 2nd Floor, Chandra Niwas Cooperative Housing
Society Limited, Old Police Lane, Andheri (East), Mumbai – 400069,
Maharashtra, India |
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Branch Office : |
J/1601/5, Phase III, GIDC, Umbergaon, Valsad – 396171, Gujarat, India |
PARTNERS
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Name : |
Mr. Kirit C. Mehta |
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Designation : |
Partner |
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Address : |
Shital Plot No. 10/16, N.S. Road No.1, J.V.P.D. Scheme, Villeparle
(West), Mumbai – 400056, Maharashtra, India |
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Date of Birth: |
11.01.1952 |
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Qualification: |
BSC |
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Experience: |
42 Years |
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Name : |
Mr. Jawahar C. Mehta |
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Designation : |
Partner |
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Address : |
Shital Plot No. 10/16, N.S. Road No.1, J.V.P.D. Scheme, Ville Parle
(West), Mumbai – 400056, Maharashtra, India |
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Date of Birth: |
10.02.1956 |
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Qualification: |
B.Com |
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Experience: |
42 Years |
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Name : |
Mr. Bhavin J. Mehta |
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Designation : |
Partner |
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Address : |
Shital Plot No. 10/16, N.S. Road No.1, J.V.P.D. Scheme, Ville Parle
(West), Mumbai – 400056, Maharashtra, India |
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Date of Birth: |
MBA |
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Qualification: |
15.10.1980 |
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Experience: |
12 Years |
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Name : |
Mr. Yash Kirit Mehta |
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Designation : |
Partner |
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Address : |
Shital Plot No. 10/16, N.S. Road No.1, J.V.P.D. Scheme, Ville Parle
(West), Mumbai – 400056, Maharashtra, India |
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Date of Birth: |
24.09.1982 |
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Qualification: |
MBA |
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Experience: |
15 Years |
BUSINESS DETAILS
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Line of Business : |
Trader,
Dealer, Exporter, Importer and Distributor of Chemicals. [Confirmed by
management] |
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Products : |
Chemicals |
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Brand Names : |
Not Available |
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Agencies Held : |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
Raw material |
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Countries : |
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Terms : |
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Selling : |
L/C and Credit (Credit 90 Days) / RTGS |
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Purchasing : |
L/C and Credit (Credit 90 Days) / RTGS |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
30 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Mr. Ashwin Malde Chartered Accountant |
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Address : |
Mumbai, Maharashtra, India |
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Tel No: |
91-22-65525689 |
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Fax No : |
91-22-25925227 |
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Email : |
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Collaborators : |
Not Available |
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Membership : |
Not Available |
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Sister Concerns : |
Address : 3 Gulabi
House, 111/115, Kazi Sayed Street, Khand Bazar, Mumbai – 400003 Line
of Business : Warehousing and Distribution
Address : 5 and 6, 2nd
Floor, Chandra Niwas, Police Lane, Opposite Andheri Station East, Andheri
East, Mumbai – 400069, Maharashtra, India Line
of Business : Warehousing Agents |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
-- |
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Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
INR Million]
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Particulars |
31.03.2018 |
31.03.2017 |
31.03.2016 |
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Sales Turnover (Approximately) |
Not Divulged |
1150.000 |
850.000 |
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(due to business
growth) |
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The above information has been denied by Mr. Kirit Mehta (Partner)
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
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 |
-- |
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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 |
Yes |
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10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
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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) |
Yes |
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16 |
No. of employees |
Yes |
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17 |
Details of sister concerns |
Yes |
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18 |
Major suppliers |
Yes |
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19 |
Major customers |
No |
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20 |
Banking Details |
Yes |
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21 |
Banking facility details |
Yes |
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22 |
Conduct of the banking account |
Yes |
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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% |
Yes |
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28 |
Estimation for coming financial year |
No |
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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 |
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
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Currency |
Unit
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INR |
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US Dollar |
1 |
INR 65.22 |
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UK Pound |
1 |
INR 92.77 |
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Euro |
1 |
INR 80.34 |
INFORMATION DETAILS
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Information
Gathered by : |
TEJ |
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Analysis Done by
: |
PSD |
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Report Prepared
by : |
RKI |
SCORE FACTORS
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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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 |
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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.