MIRA
INFORM REPORT
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Report Date : |
05.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
VIJEX AND COMPANY |
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Registered Office : |
12, Kamala Arcade, 669 Mount Road, Thousand Lights, Chennai 600 006,
Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1982 |
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Legal Form : |
Partnership
Concern with an Unlimited Liability of the Partners |
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Line of Business : |
The concern is Dealer, Exporter and
Importer of Photo Copier Machine, Office Equipment and Printers and
Catridges. |
RATING &
COMMENTS
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MIRAs 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 200000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established concern having satisfactory track. Trade relations are fair.
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 : |
12, Kamala Arcade, 669 Mount Road, Thousand Lights, Chennai 600 006,
Tamilnadu, India. |
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Tel. No.: |
91-44-28297188 |
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Mobile No.: |
91-44-28297356 |
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Fax No.: |
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E-Mail : |
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Branches : |
40/1833
Narakathara Road, Near Shenoys Junction, Cochin 682 035 |
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Tel. No.: |
91-484-2363951/2383326 |
PARTNERS
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Name : |
Mr. Vijay Basid |
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Designation : |
Partner |
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Name : |
Mr. S K Baid |
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Designation : |
Partner |
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Name : |
Mr. Shivchand
Maloo |
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Designation : |
Chief Executive
Officers |
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BUSINESS DETAILS
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Line of Business : |
The concern is Dealer, Exporter and
Importer of Photo Copier Machine, Office Equipment and Printers and
Catridges. |
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Exports to : |
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Imports from : |
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GENERAL
INFORMATION
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No. of Employees : |
30 |
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Bankers : |
State Bank of
India, Teynampet Branch, Chennai |
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Banking
Relations : |
- |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 50.000
Millions |
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Borrowed : |
- |
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Total : |
Rs. 50.000
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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Sales Turnover (Group) |
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1000.000 |
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LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:
Company Profile
Their
firm subject was in corporate
in the year of 1982. Their group engaged in importing, manufacturing, trading,
servicing and exporting of office automations and IT products, which includes
photocopiers, all its spares and consumables, HP, canon, and epson laserjetp,
deskjet printers, color printers, all its toner, Inkjet black and color
cartridges.
Subject has well-equipped Air-conditioned offices with
computers,fax,telephone, internet and e-mail and sufficient storage capacity at
delhi, chennai, ernakulam, vishakapatnam, madurai, coimbatore, and pondicherry.
Subject is number one in the all india market for M/s. Tech
Pacific Technology Limited., for their range of HP (Hewlett Packard)
consumable. They have attained number one position in the south indian market
for their above range of products. M/s. Indian Toners and Developers Limited
have also rewarded them, delhi as “crorepathi dealer” for their achievement
in the year 1998-1999 for their toners and developers. canon India Private
Limited has awarded them as ‘India’s largest seller for canon toners’ for
the year 2001-2002 as well as for 2002-03. Out of the total toner consumption
capacity of 66 tonnes in All India Level, they have a market share of around
30% i.e. more than 20 tonnes.
They have a longstanding relationship with all the suppliers
and they honor all their commitments in time.
The company has a strength of 300 qualified and managerial
personnel with varied experience in handling the latest products in office
automation line.
Major Customers
The group has more than 5000 regular customers, which
includes government, corporate and endusers.
Also the group has more than 15000 Job workers who buy
copier toner, spares, laminators, its spares and consumables. Apart from the
above, the group is supporting more than 2500 dealers and freelance service
engineer for the copiers, spares and consumables.
Product/Service Name: Printers
and Cartridges
Description
They are selling all kinds of printers and cartridges. They are
HP Printing Supplies
HP laserjet, deskJet printers, copier-scan-fax-printers
(color printers), toner and Ink cartridges (black and color), huge stockiest
for all models in HP.
Canon Printing Supplies
Canon all Ink and toner cartridges, canon color printers and
Inkjet printers.
Epson Printing Supplies
Epson all ink cartridges
TDK Importer
TDK Floppies, CDRWs, CDRs, Audio cassettes, Fax papers
mitsubishi, Koehler, Oji, etc.
Product/Service Name: Office
Equipments
Description
They are selling all kinds of office equipments for all office use. They are
laminating machines, comb binding and spiral binding machines all its
consumables like laminating film rolls, combs and spirals respectively in the
brand of JINESH.
All major brands are available, computer systems both
assembled as well as brand new.
Canon and Samsung latest model fax machines, Thermal
transfer ribbons of katun, full mark brands and other leading brands as well as
originals.
Product/Service Name: Photo
Copier Machines
Description
They are selling photo copier machines in latest models. They are
Import and reconditioning of Photocopying Machines:
All canon models like 1215, 3030, 3050, 3825, 4050, 4835,
6060, 6650, 6030.
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mport of New Photocopiers:
Canon CLC 700 / 800, CLC 1000, GP 30 and other latest
models.
Photocopier Spares, Toner and Developer
Katun brand, canon original, korean, japan and chinese
available in ready stock.
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 Intl
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 companys 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.39.43 |
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UK Pound |
1 |
Rs.81.35 |
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Euro |
1 |
Rs.57.83 |
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 |
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 |
YES |
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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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45 |
This score serves as a reference to assess SCs 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. |
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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