MIRA INFORM REPORT
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Report Date : |
13th May, 2006 |
IDENTIFICATION DETAILS
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Name : |
ABHINAV
ENTERPRISES |
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Registered Office : |
103,
Cliff Tower, 3 Cross Lane, Lokhandwala Complex, Andheri (West),
Mumbai-400053, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
2005 |
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Legal Form : |
A
Sole Proprietorship Concern |
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Line of Business : |
Indenting
& Trading of chemicals on non – exclusive basis |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
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Status : |
Small Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject
is a small and new indenting concern. It is a sister concern of Plaschem
Enterprises in the same field. The concern works on commission basis. No
payment are available. The concern can be considered for small to mediocre
business dealings on safe and secured trade terms and conditions |
LOCATIONS
|
Registered Office/Head
Office/ Factory : |
103,
Cliff Tower, 3 Cross Lane, Lokhandwala Complex, Andheri (West),
Mumbai-400053, India |
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Tel. No.: |
91-22-26365812 |
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Fax No.: |
91-22-26365812 |
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E-Mail : |
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Location : |
Residence
Cum Office |
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SOLE PROPRIETOR
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Name : |
Mrs.
Seema R. Soomancy |
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Designation : |
Proprietor |
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KEY EXECUTIVES
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Name : |
Mr.
G J Chawla |
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Designation : |
Sales
Manager |
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Date of Birth/Age : |
58
years |
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BUSINESS DETAILS
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Line of Business : |
Indenting
& Trading of chemicals on non – exclusive basis |
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Products : |
Chemicals |
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Agencies Held : |
The
concern indents from China, Europe, Middle East & Korea |
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Exports of: |
Chemicals |
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Exports to : |
China,
Europe & Middle East |
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Terms : |
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Selling : |
Contract |
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Purchasing : |
Contract |
GENERAL INFORMATION
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Customers : |
Wholesalers,
Retailers & End users |
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No. of Employees : |
4 |
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Bankers : |
State
Bank of Bikaner & Jaipur Lokhandwala,
Andheri (West), Mumbai-400053 |
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Banking Relations : |
Unknown |
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Auditors : |
NA |
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Sister Concern: |
Plaschem
Enterprises |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.
0.500 millions |
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Borrowed : |
-- |
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Total : |
Rs.
0.500 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
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Particulars |
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|
31.03.2006 |
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Order booking (on
commission basis) |
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20.000 |
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LOCAL AGENCY FURTHER INFORMATION
Trade
reference – Local:
§
Associated Allied
(India) Private Limited
§
Chemical Corporation,
Mumbai
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.45.30 |
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UK
Pound |
1 |
Rs.78.45 |
|
Euro |
1 |
Rs.54.88 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
|
14 |
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
|
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 |