MIRA INFORM REPORT
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Report Date : |
11th May 2006 |
IDENTIFICATION DETAILS
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Name : |
OCEAN CARPETS AND FURNISHING INDIA PRIVATE LIMITED |
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Registered Office : |
2601/4 Basement Beadon Pura
Karol Bagh, New Delhi-110005, India |
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Country : |
India
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Date of Incorporation : |
15th
March 2005 |
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CIN No.: |
U17226DL2005PTC134016 |
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Com. Reg. No.: |
55-134016 |
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TAN No.: (Tax Deduction &
Collection Account No.) |
DELO02551D |
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PAN No.: (Permanent Account No.) |
AAAC07359K |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Traders
of Furnishing and Carpets |
RATING & COMMENTS
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MIRA’s Rating : |
B |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject
appeare to be a small company and has no track of performance and financial
status. The
company’s payments are reported as slow and delayed. It
can be considered for any business dealings on safe and secured trade terms
and conditions. |
LOCATIONS
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Registered Office : |
2601/4 Basement Beadon Pura
Karol Bagh, New Delhi-110005, India |
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Tel. No.: |
91-11-25863912 / 25757429 |
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Fax No.: |
91-11-25863912 |
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E-Mail : |
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Location : |
Rented
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Warehouse : |
1100
sq. Mtrs 400
sq. Mtrs. Owned
by directors given on rental to company |
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DIRECTORS
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Name : |
Mr.
Vhakit Jindal |
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Designation : |
Director
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Date of Birth/Age : |
32
Years |
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Qualification : |
Graduate
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Experience : |
15
Years |
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Name : |
Mr.
R. L. Jindal |
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Designation : |
Director
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Name : |
Mrs
Risha Jindal |
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Designation : |
Director
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BUSINESS DETAILS
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Line of Business : |
Traders
of Furnishing and Carpets |
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Imports from : |
Belgium
and China |
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Terms : |
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Selling : |
Cash
and Credit |
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Purchasing : |
L/C,
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers,
Retailers and End users |
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No. of Employees : |
7 |
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Bankers : |
Bank
of Rajasthan Limited, New Delhi |
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Banking Relations : |
-- |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity
Shares |
Rs. 10/- each |
Rs. 1.000 millions |
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Issued, Subscribed
& Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.150 millions |
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FINANCIAL
DATA
[all figures are in Rupees Millions]
No
financials could be available since incorporation.
No
financial are available either from Registry or from company management.
LOCAL AGENCY FURTHER INFORMATION
Subject
is the company originally established as Sona Furnishings in 1956; Name changed
to Ocean Carpets and Furnishing India Private Limited w.e.f. 15.03.2005 having
Company Register No. 134016.
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 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
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 |
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TOTAL |
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29 |
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 |