MIRA
INFORM REPORT
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Report Date : |
31.05.2006 |
IDENTIFICATION DETAILS
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Name : |
R.S. PRODUCTS |
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Registered Office : |
6, Satya Bungalow, Opp. Rajpath Club, Premanjali Society, Near Judges Bungalow,
Bodakdev, Ahmedabad – 380054, Gujarat |
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Country : |
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Date of Incorporation : |
2004 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Exporter, Manufacturer, Supplier of Mangoes, Kesar Mangoes, Ratnagiri
Mangoes, Alphanso Mangoes, all types of Mangoes |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Maximum Credit Limit : |
- |
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Status : |
Poor |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a very small and unknown concern. Trade relations and
payments are unknown. Mr. Satya Patel remained non-cooperative despite of several
approaches. He appears to be idle person having no business at present in
peak season. It can be considered for any business dealings on fully safe and
secured trade terms and conditions. |
LOCATIONS
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Registered Office : |
6, Satya Bungalow, Opp. Rajpath Club, Premanjali Society, Near Judges
Bungalow, Bodakdev, Ahmedabad – 380054, |
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Tel. No.: |
91-79-65215487 |
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Mobile No.: |
91-9824012160 |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr. Satya Patel |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Exporter, Manufacturer, Supplier of Mangoes, Kesar Mangoes, Ratnagiri
Mangoes, Alphanso Mangoes, all types of Mangoes |
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Products : |
Kesar Mangoes Ratnagiri Mangoes Alphanso Mangoes |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
No One is Employed |
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Bankers : |
Not Known |
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Banking
Relations : |
Unknown |
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CAPITAL STRUCTURE
Not Significant
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Significant
LOCAL AGENCY FURTHER INFORMATION
Subject was founded in the
year 2004 with a vision to create an impact on the whole world by exporting its
flawless products across the globe. To fulfill it's customer's requirements is
the organization's primary aim. They implement various measures to ensure that
the fruits sent out for customer consumption are fresh and retain their taste
so that they can be relished by all.
Products:
Their desire to excel and progress has assisted them to develop an exhaustive
product range that has made a lasting impact on the world market. Their
products have been widely appreciated across the country for their superior quality
and taste. Their products include:
- Kesar Mangoes
- Ratnagiri Mangoes
- Alphanso Mangoes
Quality:
Quality is their hallmark. To produce quality products is their
responsibility and a guiding mantra for success. They have adopted a wide range
of methods to ensure high quality fruits. The first step towards quality is to procure
fruits from a reliable source. They have to be checked by experts to
exclude the inferior ones before they are dispatched for customer consumption.
They are divided and segregated according to their sizes &
character-colors & texture, etc. Thereafter they are packed and
refrigerated. These two things warranty intense supervision &
discretion to be practiced.
Infrastructure:
Their state-of-art infrastructure is empowered with highly equipped
warehouses and adroit workforce. They are armed with inducted
refrigerators with modern facilities and huge capacity for adequate storage
of fruits and other products to ensure the freshness and thus the highest
quality level. Familiarization with the new age technology and
professionalism has changed the dimensions of their infrastructure. Their
manpower is hardworking and dedicated to produce the results on time and
deliver the best to you. They have their own farms for the production of
mangoes in
Clients:
Their array of superior quality products has provided them recognition and
given them reputation in the international as well as domestic markets. Their
prestigious clients have appreciated the quality and variety they receive in
their product range. With their sheer commitment towards their services they
have commanded a major share in the world market and conquered a supreme
position in it.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.73 |
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1 |
Rs.80.43 |
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Euro |
1 |
Rs.54.74 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
1 |
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OPERATING SCALE |
1~10 |
1 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
1 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
1 |
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--LEVERAGE |
1~10 |
- |
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--RESERVES |
1~10 |
1 |
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--CREDIT LINES |
1~10 |
- |
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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 |
NO |
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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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9 |
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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