MIRA
INFORM REPORT
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Report Date : |
10.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
IG
INTERNATIONAL |
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Registered Office : |
SCF 5, 12, Subzi Mandi, Sector 26, Chandigarh
(UT) - 160026, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
January,
2000 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMI06594A |
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PAN No.: [Permanent
Account No.] |
AAAF17829R |
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Legal Form : |
Partnership
concern with an unlimited liability of the partners |
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Line of Business : |
Importers and Traders of Fresh Fruits such as
Apples, Grapes, Kiwi Foods, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
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
50000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Slow
but Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well – established concern having satisfactory track. Payments are
reported as slow but correct. Partners
are reported as experienced, respectable and having satisfactory means of
their own. Their trade relations are reported as fair. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered/Corporate Office : |
SCF 5, 12, Subzi Mandi, Sector 26, Chandigarh
(UT) - 160026, India |
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Tel. No.: |
91-172-2792274/2792423/2793927/2791384 |
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Fax No.: |
91-172-2793025/2565723 |
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E-Mail : |
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Website : |
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Area : |
2000
sq. ft |
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Location : |
Rented
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Office |
410 –
B, BSEL Tech Park, Plot No. 39/5 & 39/5, Vashi, Navi Mumbai |
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Tel. No.: |
91-172-2792274 |
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E-Mail : |
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Branches
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Bombay
:
Chennai
:
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PARTNERS
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Name : |
Mr. Gyanchand Arora |
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Designation : |
Managing Partner |
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Date of Birth/Age : |
53 Years |
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Qualification : |
Graduate |
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Experience : |
36 Years |
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Mobile
No. |
91-9814006384 |
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E-mail |
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Name : |
Mr. Inder Lal Manocha |
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Designation : |
Managing Partner |
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Mobile
No. |
919814006284 |
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E-mail |
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Name : |
Mr. Sanjay Arora |
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Designation : |
Partner & Vice President - Operations |
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Mobile
No. |
91-9814006584 |
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E-mail |
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Name : |
Ms. Nisha Arora |
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Designation : |
Co-ordinator |
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Mobile
No. |
91-9814006284 |
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E-mail |
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Name : |
Mr. Sanjiv Kumar Gulati |
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Designation : |
General Manager |
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Mobile
No. |
919814106384 |
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E-mail |
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Name
: |
Mr. Vikram Arora |
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Designation
: |
Manager - Marketing |
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Mobile
No. |
919820623384 |
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E-mail |
BUSINESS DETAILS
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Line of Business : |
Importers and Traders of Fresh Fruits such as
Apples, Grapes, Kiwi Foods, etc. |
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Exports to : |
Middle
East, China and Europe |
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Imports from : |
Australia,
Thailand, New Zealand, U.S.A, France, China, Italy, South Africa, Argentina
and Chili |
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Terms : |
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Purchasing : |
D/P at
sight terms |
GENERAL
INFORMATION
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Customers : |
Wholesalers
and Retailers |
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No. of Employees : |
29 |
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Bankers : |
Indian
Overseas Bank, Sector 7, Chandigarth – 160 026 |
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Facilities : |
The
concern enjoys cash credit facility of Rs. 30.000 millions from its bankers |
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Banking Relations : |
Satisfactory
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Associates/Subsidiaries : |
Inderlal
Gyanchand & Company SCF 5,
12 Subzi Mandi, Sector 26, Chandigarh (U T) - 160026 (Activity
- Deals in domestic market - fruits) |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
14.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs.
14.000 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover |
250.000 |
250.000 |
230.000 |
LOCAL AGENCY
FURTHER INFORMATION
The
concern is in trade terms with :
·
Prialbay
Orchard, Australia
·
Oneon
Trading Corporation, U.S.A
·
Delica,
New Zealand
·
Geoffrey
Thompson & Growers Pte. Limited, Australia
As Per
Website Details
"With an apple, I will astonish whole of Paris", said famous painter Cezanne.
Having gone a few more gallant steps ahead, they can proudly claim that with an apple they have astonished whole of India ! The shimmer of brown, red and golden fruit in the crates at city markets, in the fruit bowls in the biggest hotels and in the school bags of numerous kids across the country also reflects the anonymous contribution of IG International to all these wholesome rights. Since they procured their first container from Australia with spring in their stride and hope in their heart, they sure have come a long way. Within a short span of a few years IG International has become a leader in the fruit import segment in India. Their team of dedicated professionals, their mammoth consumer-based network across India and their sheer enterprise has enabled us to achieve clients round the world. It is a measure of their capacity and commitment that business deals coming through from USA, Europe, South America, Australia and the Middle-East have become a daily affair at IG International. So much so that there is hardly any big export fruit market in the world where they have not registered their presence with a bang. Their human resources, infrastructure and market network can rival those of any of the leaders in the fruit industry. They are steadily approaching a similar status also as fruit exporters from India.
They achieved a growth of 110% more than the previous year. There is nothing extra ordinary about it as this fact is quite in keeping with their normal growth rate. This year they are forced to open export markets in Middle East and Europe due to unending stream of orders from these continents
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.44.65 |
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UK
Pound |
1 |
Rs.85.03 |
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Euro |
1 |
Rs.56.98 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
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
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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. |
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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