MIRA
INFORM REPORT
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Report Date : |
26th February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
R K AND COMPANY |
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Registered Office : |
145, 3rd Main Road, M R Nagar, Chennai – 600 118,
Tamilnadu, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1994 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer, Exporter and Importer of Human Hair. |
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 10000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern having satisfactory track. Proprietor
is reported as experienced and respectable businessmen. Trade relations are
fair. Business is active. Payments are reported as usually correct and as per
commitments. The concern can be considered for small business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
145, 3rd Main Road, M R Nagar, Chennai – 600 118,
Tamilnadu, India |
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Tel. No.: |
91-44-25588699/ 25580899 |
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Mobile No.: |
91-9382232999 |
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Fax No.: |
91-44-25572354 |
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E-Mail : |
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Website : |
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Factory 1 : |
145, 3rd Main Road, M R Nagar, Chennai – 600 118, Tamilnadu,
India |
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Tel. No.: |
91-44-25588699/ 25580899 |
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Mobile No.: |
91-9382232999 |
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Fax No.: |
91-44-25572354 |
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E-Mail : |
SOLE PROPRIETOR
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Name : |
Mr. E S P Murali |
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Designation : |
Sole Proprietor |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Human Hair. |
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Products : |
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Exports : |
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Products : |
Human Hair |
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Countries : |
USA, Germany, UK, Switzerland, Spain, China, Brazil, Netherlands,
Hongkong and France |
GENERAL
INFORMATION
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No. of Employees : |
About 50 |
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Bankers : |
Nungamabakkam Branch, Chennai – 600 034, Tamilnadu, India |
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Banking
Relations : |
Satisfactory |
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Memberships : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 millions |
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Borrowed : |
Nil |
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Total : |
Rs. 2.500 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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Sales Turnover |
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20.000 |
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LOCAL AGENCY
FURTHER INFORMATION
As per Web:
Profile
Change and updating are the only things that
are constant in this world. They believe in this universal truth as they have
always strived to change for the better so that our esteemed clients may benefit
from better services. As they have arrived into this New Year 2007, they have
chosen to re-christen ourselves as R.K.
and Company. While your name has changed, identity and commitment to
this profession and to clients, still remain unchanged. R.K. and Company has
now come with new products and a new management to serve its customers.
Indian Human Hair Exports, now turned into R.K. and Company, is an industrial
leader, dealing with the supply and export of 100% Natural Remi and Non-Remi
Hair from India. Established in 1994 by Mr. E.S.P. Murali, Proprietor, Indian
Human Hair Exports today stands as one of most resourceful enterprises in the
human hair export trade of India. They have successfully penetrated and
established our presence in the European Hair market. Currently, they are
exporting to U.S.A, Germany, U.K, Switzerland, Spain, China, Brazil,
Netherlands, Hong Kong and France. They enforce and adhere to stringent quality
procedures that enable us to provide you with the finest quality hair in the
market today. They belief in the beauty of nature gives customers the choice of
natural colours which includes Natural Black, Dark Brown, Light Brown, Medium
Grey and White. They preserve the natural colour and texture of the hair
throughout the sterilization process.
Product range of human hair can be enlisted
as:
- Remi Single and Double Drawn
- Single Drawn Curly
- Bundled Single Drawn
- Curly Hand Wefted
- Micro Wefted
- Hand Weft Straight
- Hand Wefted Wavy.
Regarding range of the bleached and dyed
hair, they can supply all colours from 1,1b to 613. All the bleached varieties
are in remi quality only and they also supply partially processed hair. Their
strong infrastructural setup enables us to easily handle both the bulk orders
as well as small orders. Every client is important to us. Kindly give us
requirement and will get back to you in the shortest possible time.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.20 |
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UK Pound |
1 |
Rs.86.72 |
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Euro |
1 |
Rs.58.23 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
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 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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PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions