MIRA
INFORM REPORT
|
Report Date : |
21.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
ZAARA COLLECTION |
|
|
|
|
Registered Office : |
2818, Gali Garaya Kucha Chalan, Darya Ganj, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
2005 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer, Supplier and Exporter of Garments, Leather wear etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
USD 800 |
|
|
|
|
Status : |
Small Concern |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively small concern having and started commercial
operations recently. Proprietor is reported as experienced and respectable
businessman. Trade relations are reported as fair. Business is active.
Payments are however reported as usually correct and as per commitments. The concern can be considered for small business dealings at usual
trades terms and conditions. |
LOCATIONS
|
Registered Office : |
2818, Gali Garaya Kucha Chalan, Darya Ganj, |
|
Tel. No.: |
91-11-23246853 |
|
Mobile No.: |
91-9810715494 |
|
Fax No.: |
91-11-23246853 |
|
E-Mail : |
|
|
Area : |
1200sq.fts |
|
Location : |
Owned |
|
|
|
SOLE PROPRIETOR
|
Name : |
Mr. Irfan Kamal |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
41 Years |
|
Qualification : |
Graduate from NIIFT |
|
Experience : |
17 Years Worked with - Super House Limited, Ram Nath Exports, Intex Exports, |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Supplier and Exporter of Garments, Leather wear etc. |
|
|
|
|
Products : |
Ladies
Fashion Garments
Men's
Leather Wear
|
|
|
|
|
Brand Names : |
ZAARA |
|
|
|
|
Exports : |
Negotiations are in pipe line |
|
|
|
|
Terms : |
|
|
Selling : |
Cash or Credit |
|
|
|
|
Purchasing : |
Cash or Credit |
GENERAL INFORMATION
|
Suppliers : |
Purchase of raw materials from open market |
|
|
|
|
Customers : |
Negotiations are in pipe line |
|
|
|
|
No. of Employees : |
3 |
|
|
|
|
Bankers : |
Dena Bank Darya Ganj, |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.0.200 million |
|
Borrowed : |
-- |
|
Total : |
Rs.0.200 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Commercial Production not started
LOCAL AGENCY FURTHER INFORMATION
Website Details
Attached
Company Details:
Subject is a prominent manufacturer, supplier and exporter
of ladies leather/fabric dress & men's
leather wear, ladies embroidered tops, ladies embroidered kurtas, ladies skirts
and many other Indo-Western wardrobe
items. By developing a new look that culminates traditional
heritage with modern look, they have experimented on different techniques &
combination of embroideries to create an outstanding look of women's leather
& fabric garments. Moreover, they have also embellished their attire with
beautiful laces, swarosvki, beads and other eye-catching works of creativity.
"Customization of Goods" is one of their forte and the clients can
avail this facility at most competitive rates.
From
casual to formal meetings, they have designer silhouettes for every event and
in all sizes. With their decorous sense of dynamic fashion trends and key
attention to details, they have earned an enviable list of clientele to their
credit.
Their
store has one of its kind, wide myriad of designer attires like stoles,
corsets, kurtis, salwar suits, lehengas, sarees and other Indo-Western wardrobes.
The eye-catching clothes are embellished with beauteous embroideries, laces,
gem stones, etc. by their adroit artisans.
Their Talented Founder
Zaara Collection as a label was started in 2005 by Mr. Irfan Kamal and under his leadership, it has grown by leaps
and bounds. This has been possible due to Irfan talent and passion for his work
which was a strong driving force to excel.
Infrastructural Facilities & Deft Craftsmanship
The strength of their company includes state-of-the-art machinery and highly
skilled manpower. They have their own machinery and tools for efficient
execution of every task right from designing, cutting, tailoring to the final
finishing. The organization is calibrated to serve both small and bulk orders
within stipulated time frame.
They are equally empowered by their pool of dexterous artisans. They have
expertise in handmade embroideries, which include contemplating each and
every work in detail, to deliver world class wardrobes. Together, with an apt
co-ordination of both, they are able to fulfill the customers’ demands with an
unfailing regularity.
Their
Strengths
- Rich pool of
designers
- State-of-the-art
manufacturing facility
- High quality
leather with unique finishing
- Competitive
price
- Prompt
delivery.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.40.33 |
|
|
1 |
Rs.82.63 |
|
Euro |
1 |
Rs.55.65 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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 |
|