MIRA
INFORM REPORT
|
Report Date : |
28th
June 2006 |
IDENTIFICATION
DETAILS
|
Name : |
CREATIVE
IMPEX |
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Registered Office : |
E-49/7, Okhla Industrial Area, Phase II, New Delhi – 110 020, India. |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1989 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELCO3346A |
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Legal Form : |
Partnership
concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturers and Exporters of Readymade Garments. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD
300000 |
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Status : |
Good |
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Payment Behaviour : |
Usually
correct |
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Litigation : |
clear |
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Comments : |
Subject
is well established concern having fine track. The
concern is a government recognised
trading house. Trade relations are fair. Financial position is satisfactory.
Payments are usually correct and as per commitment. The
concern can be considered good for normal business dealings at usual trade
term and condition. |
LOCATIONS
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Registered Office/ Head office : |
E-49/7, Okhla Industrial Area, Phase II, New Delhi – 110 020, India. |
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Tel. No.: |
91-11-26384305/41611242/41611243/41611989/41704852 |
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Fax No.: |
91-11-26386334/26385334/2635591 |
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E-Mail : |
cishiv@vsnl.com/shiv@giasd101.vsnl.net.in |
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Website : |
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Area : |
45,000
sq. ft. |
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Location : |
Owned
office cum factory |
PARTNERSHIP
|
Name : |
Mr.
Shiv Hari Agarwal |
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Designation : |
Chief
Executive Officer |
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Date of Birth/Age : |
1962 |
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Qualification : |
B. Sc. |
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Experience : |
20 years |
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Name : |
Mr.
Surender Agarwal |
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Designation : |
partner |
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Name : |
Ms.
Seema Agarwal |
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Designation : |
partner |
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Qualification : |
Graduate |
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Name : |
Mr.
Shiv Hari Agarwal (HUF) |
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Designation : |
partner |
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Name : |
Ms.
Kaushlaya V. Aggarwal |
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Designation : |
partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Readymade Garments. |
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Exports to : |
USA,
Europe and Canada. |
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Imports from : |
China,
France, Spain, Italy, Switzerland Singapore and Hong Kong. |
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Terms : |
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Selling : |
Cash
or Credit (60 days) |
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Purchasing : |
Credit
(60 /90 days) |
GENERAL
INFORMATION
|
Suppliers : |
·
Tulsi
Ram Jugal Kishore, Delhi, India ·
Pankaj
Textile, Delhi, India ·
Jaishree
Cloth, Mumbai, Maharashtra, India ·
Shriram
Mills, Mumbai, Maharashtra, India ·
Changdu
Tianyou Development Company Limited ·
Shandong
Cosense Textile Company Limited |
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Customers : |
Ø
Arayal,
France Ø
Cortefiel,
Spain Ø
Gas,
France Ø
Goirgio
Armani, Italy Ø
Mavi,
Italy Ø
Miss
Selfridges, U.S.A. Ø
Nile,
Switzerland Ø
Roberto
Cavalli, Italy Ø
Rosella,
Italy Ø
Stella
Forest, France Ø
Tara
Jormon, France Ø
Tracy
Reece, U.S.A. Ø
Yolanda
Ruiz, Spain Ø
Zinco,
Italy |
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No. of Employees : |
150 |
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Bankers : |
ABN
Amro Bank, Connught Palace, New Delhi 110001. |
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Facilities : |
The
concern is reported enjoy substantial facilities from its banker. |
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Banking Relations : |
Satisfactory |
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Auditors : |
T.
Kapur & Company Chartered
Accountants B-234,
Greater Kailash Part-I, New Delhi-110048, India |
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Associates/Subsidiaries : |
·
Creative Garments Limited, 401, Sun Industrial Estate, Sun Mill Compound,
Lower Parel, Mumbai-400013, Maharashtra, India Tel No :- 91-22-24605860 Fax No :- 91-22-24934823/24931760 E-mail:-general@creativegarment.com / creatadmin@creativegarment.com Line of Business :- Manufacturers and
Exporters of Readymade Garments. ·
Creative Wear Private Limited, 81,82 Koramangla Industrial Area,
Bangalore-560095, Karnataka, India Tel No:- 91-80-25538053/25538054 Fax No :- 91-80-25520284 E-mail :- creative@blr.vsnl.net.in Line of Business :- Manufacturers and
Exporters of Readymade Garments. ·
Creative Outwear Limited , 81, 82, Survey No.482, Plot No. 2,3,4,5
Neat Daman Check Post, Village Dabhel, Daman 369210 Tel No :- 91-260-2421071/2253313/2430113 Fax No :- 91-230-2257980 E-mail :- creativedaman@egujarat.net Line of Business :- Manufacturers and
Exporters of Readymade Garments. |
CAPITAL STRUCTURE
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Capital
Investment : |
|
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Owned : |
Rs.75.700
million |
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Borrowed : |
- |
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Total : |
Rs.
75.700 million |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
580.000 |
500.000 |
300.000 |
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Export Value |
580.000 |
500.000 |
300.000 |
LOCAL AGENCY
FURTHER INFORMATION
Nil
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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.46.40 |
|
UK
Pound |
1 |
Rs.84.50 |
|
Euro |
1 |
Rs.58.32 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
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PAID-UP CAPITAL |
1~10 |
8 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
7 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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--MARGINS |
-5~5 |
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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 |
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TOTAL |
|
65 |
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 |
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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 |
|
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |