MIRA
INFORM REPORT
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Report Date : |
27.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHRI
DURGA INTERNATIONAL |
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Registered Office : |
GC-30,
Ground Floor, Shivaji Enclave, New Delhi – 110027, Delhi |
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Country : |
India |
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Financials (as on) : |
-- |
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Date of Incorporation : |
2006 |
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IEC No.: |
0506046249 |
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Legal Form : |
Partnership
concern with an unlimited liability of the partners. |
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Line of Business : |
Exporter
of home furnishings, floor coverings, bathmats and fabric |
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
Concern |
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
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Comments : |
Subject
is a new concern and in the process of establishing itself. Partners are
reported as experienced and respectable businessmen. No payment are
available. The
concern can be considered for small business dealings with slight caution
initially. |
LOCATIONS
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Registered Office : |
GC-30,
Ground Floor, Shivaji Enclave, New Delhi – 110027, Delhi, India |
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Tel. No.: |
91-11-45508133 |
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Mobile No.: |
91-9212086211 |
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Fax No.: |
91-11-45508144 |
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E-Mail : |
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Area : |
2200
sq. ft. |
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Location : |
Rented
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PARTNERS
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Name : |
Mr.
Amit Pahwa |
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Designation : |
Partner
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Date of Birth/Age : |
29
Years |
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Qualification : |
MBA |
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Experience : |
8
Years |
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Name : |
Mr.
Harsh Aneja |
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Designation : |
Partner
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Date of Birth/Age : |
35
Years |
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Qualification : |
BA |
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Experience : |
15
Years |
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Name : |
Mr.
Yogesh Chawla |
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Designation : |
Partner
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Date of Birth/Age : |
27
Years |
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Qualification : |
BA |
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Experience : |
6
Years |
KEY EXECUTIVES
|
Name
: |
Mr.
Amit Pahwa |
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Designation
: |
Chief
Executive Officer |
BUSINESS DETAILS
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Line of Business : |
Exporter
of home furnishings, floor coverings, bathmats and fabric |
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Products : |
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Exports to : |
U.S.A.,
France, Spain and Hungary |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
PRODUCTION
STATUS
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Particulars |
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Installed Capacity Actual Production |
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Home Furnishings |
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150000 Units |
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Floor Covering and Bathmats |
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250000 sq. mtrs. |
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Fabric |
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800000 sq. mtrs. |
GENERAL
INFORMATION
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Customers : |
Wholesalers
and Retailers |
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No. of Employees : |
20 |
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Bankers : |
HDFC
Bank Limited Janakpuri,
New Delhi |
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Facilities : |
-- |
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Banking Relations : |
-- |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
5.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs.
5.000 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 |
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Not Yet Started |
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LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
Raj
Exports, WZ-39A, Tilak Nagar, Krishna Park, New Delhi, India
Mr. S.
C. Chawla – 91-9810534883
Fame
Merchandising, 130, Sukhin Nagar, Panipat, India
Mr.
Hehak – 91-9811742767
Artisan
Gallery, ¼ Mublestory, 2nd
Floor, Tilak Nagar, New Delhi, India
Mr.
Kaiser – 91-9810546433
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.44.24 |
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UK
Pound |
1 |
Rs.86.95 |
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Euro |
1 |
Rs.57.33 |
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 |
- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
- |
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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 |
2 |
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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 |
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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12 |
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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