Attachment 1
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Report
Update On |
5th November, 1999 |
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Report on |
D. V. WOOLLEN |
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Registered Office |
370-C Samrala Road, Ludhiana – 141 003, Punjab, INDIA |
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Tel. No. |
91-161-607 133 |
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Fax No. |
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E-Mail |
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Telex |
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Attachment 2
S U M M A R Y
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Incorporated |
1994 |
Status |
Moderate |
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Registration No. |
-- |
Chief Executive |
Mr. Mohinder Saggar |
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Capital (Rs.) |
2.0 millions |
Payments |
Slow |
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Sales (Rs.) |
6.0 millions |
Litigation |
-- |
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Net Worth (Rs.) |
-- |
Banking Reputation |
Satisfactory |
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No. of Employees |
5 |
Auditors |
-- |
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Credit Rating |
B (See attachment 3) |
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INDUSTRY
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FACTORY
Not Applicable
BRANCH
Nil
HISTORY
Subject was established in the year 1994 at Ludhiana in Punjab as a Partnership concern.
LEGAL FORM
It is a Partnership Concern with Unlimited Liability of the partners.
PARTNERS
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Mr. Mohinder Saggar |
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Mr. Vineet Saggar |
PARTICULARS OF CHIEF EXECUTIVE
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Name |
Mr. Mohinder Saggar |
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Designation |
Managing Partner |
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Address |
370-C Samrala Road, Ludhiana – 141 003, Punjab,
INDIA |
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Year of Birth |
1949 |
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Qualification |
Graduate |
BUSINESS
The concern is engaged in Trading of Raw Wool & Textiles Raw Materials.
The concern purchases against L/C terms. The concern sells against Cash and Credit (30 days) terms.
The concern imports from U.K., Netherland, Australia, Canada and New Zealand.
The concern does not export its products.
The concern operates from a caption owned commercial office premises of 3,000 sq.ft., where 5 persons are reported to be employed.
ASSOCIATES
K Ashish International, Ludhiana, Punjab, INDIA
BANKERS
K State Bank of Patiala, Overseas Branch, Miller Gunj, Ludhiana, Punjab, INDIA
FINANCIAL INFORMATION
[figures are in Rupees Millions]
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PARTICULARS |
31.03.1999 |
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Capital Investment |
2.0 |
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Annual Turnover |
6.0 |
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Net Profit for the Year |
1.2 |
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Import Value |
1.5 |
Projected Turnover for Current Year (1999-2000) : Rs.7.0 millions
COMMENTS
Subject is not much co-operative. The contained information is from third sources.
Subject is an established concern. Scale of operation is small. Payments are reported as slow and delayed.
The concern can be considered for any business dealings on safe and secured trade terms and conditions.
Your proposed business dealing of NLG 150,000 can be considered against fully safe and secured trade terms and conditions.
Attachment 3
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SCORE SHEET |
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SCORE |
CREDIT RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the
strongest capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet
normal commitments. Maybe drawn to slightly difficult position as
unfavourable conditions arise. Minimal assurance for timely payment on
interest and principal sums |
Moderate |
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26-40 |
B |
Unfavourable & favourable factors carry similar
weight in credit consideration. Capability to overcome financial difficulties
seems comparatively limited or considered not known. Capability to pay both
interest and principal sums is doubtful |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be
exercised |
Credit
not recommended |
Attachment 4
INDIA
INDIA, a Union of States, is a Sovereign Socialist Secular Democratic Republic with a Parliamentary System of government. It covers an area of 32872631 sq. km. Population, as on 1st March, 1991 (last counted) stood at 846.30 millions.
The value of total foreign trade increased to Rs.2,778,392.8 millions in 1997-98. During 1997-98, it’s total exports amounted to Rs.1,262,857.6 millions and imports increased to Rs.1,515,535.2 millions.
As on 20th April, 1999, Standard and Poor’s affirmed its ratings for India and said the country’s outlook was stable despite weak coalition governments. S&P affirmed its BB foreign currency and the BBB local currency ratings for India. The B foreign currency and A3 local currency short-term issuer credit ratings were also affirmed. The outlook is stable. Official foreign exchange reserves cover about 165 percent of total government, public sector and private sector external principal-repayment obligations due within the next 12 months. At $32.6 billion as on April 7, 1999, they mitigate the risk of a sudden loss of external confidence even as exports decelerate and the trade gap widens, the agency said.
LEADING EONOMIC INDICATORS
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Outstanding As On |
% Variation Over |
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Banking, M3 & Forex (Rs. mlns.) |
Feb. 26, 1999 |
End-March 1998 |
Financial Year So Far |
Year Ago |
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1997-98 |
1998-99 |
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Aggregate Deposits |
6,983,380 |
6,054,100 |
15.3 |
15.3 |
19.8 |
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Demand Deposits |
1,029,500 |
1,025,130 |
0.2 |
0.4 |
13.4 |
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Time Deposits |
5,953,880 |
5,028,970 |
18.7 |
18.4 |
20.9 |
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Investments |
2,519,660 |
2,187,050 |
12.3 |
15.2 |
17.7 |
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Government Securities |
2,203,170 |
1,869,570 |
14.2 |
17.8 |
21.4 |
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Other Approved Securities |
316,490 |
317,480 |
2.7 |
-0.3 |
-2.3 |
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Bank Credit |
3,547,420 |
3,240,790 |
12.4 |
9.5 |
13.3 |
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Food Credit |
167,320 |
124,850 |
62.4 |
34.0 |
35.6 |
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Non-food Credit |
3,380,110 |
3,115,940 |
11.0 |
8.5 |
12.4 |
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Money Supply M3 (Feb. 26, 1999) |
9,455,060 |
8,253,890 |
13.4 |
14.6 |
18.8 |
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Net Bank Credit to Government |
3,868,200 |
3,306,190 |
11.4 |
17.0 |
20.3 |
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Reserve Bank Credit to
Government |
1,543,690 |
1,351,600 |
5.1 |
14.2 |
18.3 |
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Bank Credit to Commercial
Sector |
4,651,290 |
4,321,900 |
11.8 |
7.6 |
10.6 |
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FOREX (US$ mln.) March 19, 1999 |
312,350 |
293,670 |
7.0 |
6.4 |
10.5 |
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Foreign Currency Assets |
282,560 |
259,750 |
11.1 |
8.8 |
13.7 |
FOREIGN INSTITUTIONAL INVESTMENT IN INDIA
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Financial Year |
Gross Purchases (Rs. mlns.) |
Gross Sales (Rs. mlns.) |
Net Investment (Rs. mlns.) |
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1992-93 |
175 |
40 |
135 |
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1993-94 |
55,927 |
4,665 |
51,262 |
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1994-95 |
76,310 |
28,354 |
47,966 |
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1995-96 |
96,930 |
27,520 |
69,420 |
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1996-97 |
155,540 |
69,804 |
85,746 |
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1997-98 |
186,948 |
127,373 |
59,577 |
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1998-99 |
161,150 |
176,993 |
-15,844 |
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Total |
732,980 |
434,749 |
298,262 |
FOREIGN EXCHANGE RATES
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Currency |
Unit |
Indian
Rupees |
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US Dollar |
1 |
Rs.43.16 |
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UK Pound |
1 |
Rs.69.72 |
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Euro |
1 |
Rs.44.57 |
Attachment 5
ACKNOWLEDGEMENT
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Company’s Stamp &
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