MIRA
INFORM REPORT
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Report Date : |
25.07.2007 |
IDENTIFICATION DETAILS
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Name : |
TAJ FOOD SALES PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Date of Incorporation : |
20.02.1990 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importer and wholesaler of Food Products. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
REGISTERED NAME
TAJ FOOD SALES PTY
LTD
INCORPORATED
20 February 1990
REGISTERED ADDRESS
GLADESVILLE, NSW 2111
SHARECAPITAL
$112,317
SHAREHOLDERS
VARMA, Sah Dev Holds 112,303 shares
VARMA, Arjun Holds 1 share
VARMA, Gautam Holds 1 share
VARMA, Vikram Holds 1 share
VARMA, Parveen Holds 1 share
SHIRAZEE, Ruby Holds 1 share
DIRECTORS
VARMA, Gautam
4A
VARMA, Vikram
LIBERTY GROVE, NSW 2138
VARMA, Arjun
1,
VARMA, Parveen
LIBERTY GROVE, NSW 2138
SHIRAZEE, Ruby
GLADESVILLE, NSW 2111
VARMA, Sah Dev
GLADESVILLE, NSW 2111
SECRETARY
VARMA, Parveen
LIBERTY GROVE, NSW 2138
REGISTERED CHARGES
Registered Charge Number : 849769
Date Registered : 06.03.2002
Status : Fixed and floating
Creditor : National Australia Bank
BUSINESS STRUCTURE
TRADING ADDRESS
GLADESVILLE, NSW 2111
TELEPHONE (612) 9817 5521
FACSIMILE (612) 9879 6681
BANK NATIONAL AUSTRALIA BANK
EMPLOYEES less than 50
BACKGROUND
The subject was incorporated in
OPERATIONS
The subject operates import and wholesale of food products.
Activities are conducted from leased premises located at the above listed trading address.
ADVERSE
A search of the of Baycorp Advantage Limited on traced any litigation listed against the subject at that date.
Writs and summonses
Creditor : Oswalds Banks P/L
Date : 12.05.2005
Amount : $4,452
Plaint No. : 1205/05/2DWN
Court : Local Court Writ
Assoc code : Joint
FINANCES
The subject is not required to lodge financial statements with the Australian Securities and Investments Commission.
During the current
interview conducted with the subjects Financial Controller, she confirmed the
subjects search and operational details, however declined to provide any
financial information as a matter of strict company policy.
Subsequently details
in this regard were unable to be obtained during the current investigation.
The subject maintains
a financing facility with the National Australia Bank, which is secured by a
registered charge over certain fixed and floating assets of the company.
Enquiries in trade
quarters revealed satisfaction from one supplier contacted in dealing with the
subject on a credit basis.
TRADE SURVEY
During the current investigation, it was advised that the subject imports all requirements. A trade survey on the subject traced the following accounts:
1. Purchases average $9,000 to $10,000 per month on 30 day terms. Payment is met according to terms
and the account is considered good having been known over 3 years.
2. Nominated supplier failed to respond to correspondence despite chasing
SUMMARY
The subject was incorporated in
During the current
investigation, details pertaining to the subject’s financial position were
unable to be obtained.
Enquiries in trade
quarters revealed satisfaction from one supplier contacted in dealing with the
subject on a credit basis.
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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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%)