MIRA
INFORM REPORT
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Report Date : |
20.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
AAR
ESS FLOOR ZONE PRIVATE LIMITED |
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Registered Office : |
8/37,
Grants Building, 2nd Floor, Arthur Bunder Road, Colaba, Mumbai –
400 005, Maharashtra, India. |
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Country : |
India |
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Date of Incorporation : |
19.04.2006 |
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Com. Reg. No.: |
11-161242 |
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CIN No.: [Company
Identification No.] |
U51109MH2006PTC161424 |
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IEC No.: |
0306070278 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA28435B |
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PAN No.: [Permanent
Account No.] |
AAFCA6964M |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Importer
of Rephouse (Rubber florring), Balterio (Laminate Flooring), Balta (Rugs),
Wall & Floors (wall covering/ paper) and many more. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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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 : |
New Company |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a new company and in the process of establishing itself. Directors are
reported as experienced and respectable businessmen. Company’s first
financials are awaited. Payments are however reported as usually correct and
as per commitments. The
company can be considered for small business dealings at usual trade terms
and conditions, with slight caution initially. Aar
Ess Enterprise is the Sister Concern of the Subject Company. |
LOCATIONS
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Registered Office: |
1
Tulip Building, Ground Floor, 3rd Pasta Lane, Colaba, Mumbai – 400
005, Maharashtra, India. |
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Corporate Office : |
8/37,
Grants Building, 2nd Floor, Arthur Bunder Road, Colaba, Mumbai –
400 005, Maharashtra, India. |
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Tel. No.: |
91-22-22040350/51/52 |
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Mobile No.: |
91-9820213560 |
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Fax No.: |
91-22-22040350 |
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E-Mail : |
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Website: |
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Area : |
1600
Sq. ft. |
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Location : |
Rented |
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Showroom: |
R
Mall, 2nd Floor, # 24, L.B.S. Marg, Mulund (west), Mumbai – 400
080, Maharashtra, India. |
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Tel.
No.: |
91-22-67107050/51 |
DIRECTORS
|
Name : |
Mr.
Rehan Sumar |
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Designation : |
Director
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Address : |
1 Tulip
Building, Ground Floor, 3rd Pasta Lane, Colaba, Mumbai – 400 005,
Maharashtra, India. |
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Date of Birth/Age : |
30.06.1970 |
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Qualification : |
B.
Com. |
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Date of Appointment: |
19.04.2006 |
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Name : |
Mrs.
Amberin R. Sumar |
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Designation : |
Director
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Address : |
1 Tulip
Building, Ground Floor, 3rd Pasta Lane, Colaba, Mumbai – 400 005,
Maharashtra, India. |
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Date of Birth/Age : |
23.12.1974 |
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Qualification : |
B.
Com. |
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Date of Appointment: |
19.04.2006 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
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Mr.
Rehan Sumar |
5000 |
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Mrs.
Amberin R. Sumar |
5000 |
BUSINESS DETAILS
|
Line of Business : |
Importer
of Rephouse (Rubber flooring), Balterio (Laminate Flooring), Balta (Rugs),
Wall & Floors (wall covering/ paper) and many more. |
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Agencies Held : |
Ø
Al-Sorayai
Carpet Factory Ø
Associated
Weavers Ø
Balta Ø
Balterio |
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Imports from : |
Belgium
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Terms : |
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Selling : |
Cash
& Credit (30 days) |
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Purchasing : |
Credit
(120 days) |
GENERAL
INFORMATION
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Customers : |
Wholesalers
and Retailers |
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No. of Employees : |
15 |
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Bankers : |
ABN Amro
Bank, Fort, Mumbai |
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Facilities : |
-- |
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Banking Relations : |
-- |
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Auditors : |
L. K.
Jain & Company Chartered
Accountant |
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Address: |
Malad |
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Tel. No.: |
91-22-28742511 |
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Sister Concern: |
Aar
Ess Enterprise |
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Address: |
19 A/
308, Grants Building Annex, 1st
Floor, Behind Strand Cinema , Colaba, Mumbai – 400 005, Maharashtra, India. |
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Line of Business: |
Importer
and Reseller |
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Sister Concern: |
S. R.
Enterprises |
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Address: |
37,
Grants Building Annex, 1st Floor, Behind Strand Cinema, Colaba,
Mumbai – 400 005, Maharashtra, India. |
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Line of Business: |
Importer
and Reseller |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
50000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.500 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.100
Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
Since
this is the 1st financial year it is not possible to furnish the
financial information.
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
Ø
Malsa
Carpets, Bangalore
Ø
White
Flooring
VISION:
A well
floored worlds is what Floor Zone brings tho you. That’s the commitment with
which they embrance the future. Staying with the times and gringing you the
ultimate in contemporany flooring solutions, is what they always belive in.
When it
come to quality, look on future than Floor Zone, the name that is highly
recognised. Come home to the best known brands. Floor Zone houses products from
the Renowned Prado, Balta, Balsan, Balterio, Nelca, Associated Weavers, Al
Sorayai, Rephouse and more. Many happy consumers have been coming home to
quality flooring showcased by us. Their products are tested and designed to
serve you the best.
They
never rest on their past achievements because they recognize that they must
remain on the leading edge of technology and quality in order to satisfy their
customers. They continually bring new and exciting ideas to the marketplace,
ideas that keep their customers coming for more.
AS PER WEBSITE:
PRODUCTS
Carpet Tiles
Carpet Tiles have been used for years in a variety of applications from
prestige offices to household. They are versatile, easy to install, modular and
in irregular shaped rooms, less waste is generated.
FloorZone has put together an exciting range of versatile yet practical Carpet
Tiles for use in a variety of applications. Their use of different fiber types
provides the consumer with a variety of finishes from tough, hard wearing
carpet tiles, for the most demanding of applications, to soft, opulent fibers,
to stylish carpet tiles ideal for office and board room fit outs. Check out
their range below. Carpet Tiles are cost effective and easy to install in
offices on ground floors or in high rises.
Time Square
Waves
City Square
Primavera
Highlands
Area Design Rugs
The element of surprise, to add style to the room, ground up. A rug instantly
transforms that given space whether it is about adding that contemporary chic
look to a new surrounding or rejuvenating a not so new room, the rug works like
magic.
To put
it simply, Floorz Zone has one for every room, be it contemporary, classical,
neo classical or traditional. Always keeping an eye for the latest trends both
here and in the international markets, Floorz Zone is always up to date in its
product offerings.
They
have an exclusive range of woven carpets for the commercial and residential
markets in Cromojet printed area design rugs. Their finishing range from loop
to cut piles to twisted pile treatment. A rich array of color adds to the
appeal.
These
Area Rugs run in various patterns from Irregular and wavy shapes, paisleys,
squares, semi circles, circular, squares etc. The prints range from Sunrises,
sunflowers and sunsets to abstract geometrical designs. There one for each
palette.
They have divided the area design rugs in the following categories:
Ø
Modern
Ø
Abstract
Ø
Children
Wooden Laminated Flooring
Wood has its own charm. Enrich the floor with wooden laminates from Belgium and
discover the warm and inviting hues. Make the floors the envy of every visitor.
Their exclusive range of wooden laminates are enough to floor you with their
sophistication. Balterio laminate flooring is ideal for the residential and
office space. Considered as one of the world's most versatile covering, this
traditional beauty brings you practical advantages like high resistance to
stain, hygienic and are virtually maintenance free.
Choose a floor for the style of living with the ...
Coming as it does with a ten year to lifetime warranty, the floors are of the highest quality, and ensure a good looking floor for years to come.
Ø Tradition Sculpture 90 Handscraped
Ø Tradition Quattro 90 4 sided v-groove
Ø Reflexions plus 80 soft sheen finish
Ø Authentic Style 80 genuine wood structure
Ø Ambassador Touch 70 brushed structure
Ø Ambassador 70 woodgrain structure
Wallcoverings
Floor Zone, the premier name in floors, now brings to the Indian market wall
coverings of international quality and style. Prime Wallcoverings is a
collection of the best designs and quality sourced from different parts of the
world. Floor Zone has always strived to give you the best there is to offer.
And with Tuscany wall coverings, a parts of their Prime collection, Floor Zone
reaffirms this reputation. Imported from Italy, it is naturally inspired by the
beauty and history that is associated with the land of great artists and
architecture. This range of wall coverings are available in elaborate designs,
subtle stripes, geometric borders with metallic finish, and a myriad of colours
that are idea for residential spaces, hotels and apartments. Opulent and
stylish, their wall coverings are an absolute delight and will definitely
enhance the beauty and de'cor of any space. Apart from beautifying spaces, wall
coverings also improve the durability of walls. So, it is an advantage that is
definitely worth having!
Rubber Flooring
Floor Zone exhibits a range of innovative rubber flooring systems for the first
time in India. Their range of Neoflex Rubber Flooring has excellent features to
enhance the look, feel & life of the floor. Neoflex is an environmentally
friendly, homogenous EPDM/recycled rubber floor covering for areas subject to
heavy wear. The durability, flexibility, safety, comfort, slip resistance and
aesthetic appeal make Neoflex the true perfect solution for both in and outdoor
applications. Their Decoflex range of sports surfacing systems have the
approval of ITF, IST, IAAF & other recognised sports authorities. Their
range consists of floors for all kinds of sporting activities like athletic
tracks, tennis, badminton, basketball, volleyball, handball, as well as
multipurpose play areas. Their SW14 athletic track has been installed at the
2004 Athens Olympic track in Filis, Greece. Their reputation rests on steadfast
pursuit in the development of rubber flooring systems for recreational,
architectural and commercial applications.
Their Rubber Flooring products have been divided in to the following
categories:
Ø Sports Flooring
Broad Loom Carpets
The element of surprise, to add style to the room, ground up. A rug instantly
transforms that given space whether it is about adding that contemporary chic
look to a new surrounding or rejuvenating a not so new room, the rug works like
magic.
To put it simply, Floorz Zone has one for every room, be it contemporary, classical, neo classical or traditional. Always keeping an eye for the latest trends both here and in the international markets, Floorz Zone is always up to date in its product offerings.
They have an exclusive range of woven carpets for the commercial and residential markets in Cromojet printed area design rugs. Their finishing range from loop to cut piles to twisted pile treatment. A rich array of color adds to the appeal.
These Area Rugs run in various patterns from Irregular and wavy shapes, paisleys, squares, semi circles, circular, squares etc. The prints range from Sunrises, sunflowers and sunsets to abstract geometrical designs. There one for each palette.
They have divided the Broad Loom Carpets in the following categories:
Ø Commercial
Rubber
Flooring Systems for Sports & Commercial Use:
Floor Zone exhibits a range of innovative rubber flooring systems for
the first time in India. Their range of Neoflex Rubber Flooring has a number of
excellent features to enhance the look, feel and life of the floor. Neoflex™ is
an environmentally friendly, homogeneous EPDM/recycled floor covering for areas
subject to heavy wear. The durability, flexibility, safety, comfort, slip
resistance and aesthetic appeal makes Neoflex™ the true perfect solution for
both in - and outdoor flooring applications. Their Decoflex range of sports surfacing systems have the approval of ITF,
IST, IAAF & other recognised sports authorities. Our range consists of
floors for all kinds of sporting activities like athletic tracks, tennis,
badminton, basketball, volleyball, handball, as well as multipurpose play
areas. Our SW14 athletic track has been installed at the 2004 Athens Olympic
track in Filis, Greece. Their reputation rests on steadfast pursuit in the
development of rubber flooring systems for recreational, architectural and
commercial applications.
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 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. 44.25 |
|
UK
Pound |
1 |
Rs. 86.41 |
|
Euro |
1 |
Rs. 58.10 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
1 |
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--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
19 |
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
|
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 |
|
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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