MIRA INFORM REPORT
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Report Date : |
11th May, 2006. |
IDENTIFICATION DETAILS
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Name : |
MEGALINKS INTERNATIONAL |
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Registered Office : |
G- 77, Greater Kailash II,
New Delhi – 110 048, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1995 |
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Legal Form : |
Sole
Proprietorship Concern |
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Line of Business : |
Importer,
Exporter and Supplier of Machineries, Electronic Components, Consumer Goods,
Solar Equipments and Textiles. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 12000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is an old and established concern having satisfactory track. The concern
started commercial operations only in 2005, as claimed by the management.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
G- 77, Greater Kailash II,
New Delhi – 110 048, India |
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Tel. No.: |
91-11-29223325/
24502929 |
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Fax No.: |
91-11-51656180 |
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E-Mail : |
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Area : |
5000
sq. ft. |
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Location : |
Owned/commercial
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China Office : |
19/A,
Tower ‘B’, No. 1,South Xibahe, Beijing – P R China- 100 028 |
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Tel. No.: |
86-10-64402602 |
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Fax No.: |
86-10-65588088 |
SOLE PROPRIETOR
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Name : |
Mrs.
Aruna Sharma |
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Designation : |
Proprietor |
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Address : |
G- 77, Greater Kailash II,
Masjid Moth, New Delhi – 110 048, India |
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Date of Birth/Age : |
55
Years |
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Qualification : |
Matriculation |
BUSINESS DETAILS
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Line of Business : |
Importer,
Exporter and Supplier of Machineries, Electronic Components, Consumer Goods,
Solar Equipments and Textiles. |
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Exports to : |
European
Countries |
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Imports from : |
China |
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Terms : |
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Selling : |
On
irrecoverable L/C basis |
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Purchasing : |
L/C
(30 – 60 Days), DP at Sight and DA basis (Purchasing terms depends on case to
case basis) |
GENERAL INFORMATION
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No. of Employees : |
Around
50 (including group companies) |
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Bankers : |
v
Centurion Bank of
Punjab, Greater Kailash, Part – II, New Delhi – 110 048 v
Indian Overseas Bank,
Greater Kailash, Part – II, New Delhi – 110 048 |
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Facilities : |
L/C facilities from it’s Bankers |
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Banking Relations : |
Satisfactory |
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Auditors : |
Ajay
Bajaj & Company |
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Qualification: |
Charted
Accountant |
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Subsidiaries : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.
3.000 Millions |
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Borrowed : |
- |
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Total : |
Rs.
3.000 Millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
Note:
The
subject is a Non-incorporated business entity and thus not obliged to file any
information on itself with any Official Authority (Registrar of Company) open
for public inspection.
The
above-mentioned information is obtained directly from the subject itself but
the subject could not substantiate it by providing audited financial statements
like Balance Sheet and Profit & Loss Account.
(Approx)
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Net Worth |
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3.000 |
3.000 |
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Sales Turnover [including other income]
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7.000 |
N. A |
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Profit/(Loss) Before Tax
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0.030 |
N. A |
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Profit/(Loss) After Tax
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0.030 |
N. A |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
PAT / Total Income
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(%)
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0.43 |
- |
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Net Profit Margin
(PBT/Sales) |
(%) |
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0.43 |
- |
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Return on Investment (ROI)
(PBT/Networth) |
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0.01 |
- |
Comments:
There
were no effective business activities on Megalinks International till
2004-2005. The subject has claimed that they are doing the business thro their
group companies and Sharma Enterprises and Technical Services. Mr. Jagdish
Sharma claims that turnover for the financial year 2006-07. Shall be to the
tune of Rs. 15.000 Millions approx. They are mainly doing business thro its
group companies only.
LOCAL AGENCY FURTHER INFORMATION
The
subject is having its offices at the following location in Delhi
Green
Park, New Delhi
Lajpat
Nagar, New Delhi
Business
Operations:
Established in 1995 the subject is engaged in the business of importer, Exporter and Supplier of Machineries, Electronic Components, Consumer Goods, Solar Equipments and Textiles.
Subject reportedly Imports Silk Yarn & Fabrics, textile Suiting, Solar Energy Products, Industrial Garments Machineries from China.
Subject reportedly Exports Home Furnishing and Handicrafts items to European Countries.
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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Indian Rupees |
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US
Dollar |
1 |
Rs.45.07 |
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UK
Pound |
1 |
Rs.83.67 |
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Euro |
1 |
Rs.57.45 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
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45 |
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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
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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. |
Satisfactory |
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26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
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 |