MIRA
INFORM REPORT
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Report Date : |
31.05.2007 |
IDENTIFICATION DETAILS
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Name : |
TRINITY CREATION |
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Registered Office : |
165/166, Manjunath Chambers , Shankar Nagar, Mahalakshmi Layout,
Bangalore-560096, Karnataka |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2005 |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Exporter and Manufacturer of
Computerized Embroidery , Silk furnishing, Bed Spread,Silk Cushion
Cover and Curtains. |
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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Maximum Credit Limit : |
USD 16000 |
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Status : |
Small Concern |
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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.
Partners are reported as experienced and respectable businessmen. Trade relations
are reported as fair. Business is active .Payments are however are reported as usually correct and as per
commitments. The concern can be considered for small business dealing at usual trade terms and
condition. |
LOCATIONS
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Registered Office/factory 1: |
165/166, Manjunath Chambers , Shankar Nagar, Mahalakshmi Layout,
Banglore -560096, Karnataka. |
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Tel. No.: |
91-80-23591889 |
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Fax No.: |
91-80-23499239 |
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E-Mail : |
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Area : |
800 sq .ft.(Rented) |
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Factory 2 : |
#754,12th cross , Mahalakshmi Layout, BANGALORE-86 |
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Area : |
600 sq. fts. |
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Location : |
Rented |
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/PARTNERS/
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Name : |
Mr. S. N. Narayana Rao |
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Designation : |
Partner |
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Date of Birth/Age : |
35 Years |
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Experience : |
10 years |
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Name : |
Mr. S. N. Narasimha Rao |
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Designation : |
Partner |
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Date of Birth/Age : |
38 Years |
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Experience : |
12 Years |
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Name : |
Mr. J. Shridhar |
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Designation : |
Partner |
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Date of Birth/Age : |
29 Years |
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Experience : |
5 Years |
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BUSINESS DETAILS
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Line of Business : |
Exporter and Manufacturer of Computerized
Embroidery , Silk furnishing, Bed Spread,Silk Cushion Cover and Curtains |
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Products : |
·
Computerized Embroidery ·
Silk
Furnishing ·
Silk Cushion Cover and Curtains ·
Natural Silk Fabrics ·
Silk Blended
Textiles ·
Embroidered
Fabrics ·
Home Furnishing
Fabrics |
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Exports : |
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Countries : |
In process to |
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Terms : |
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Selling : |
15 Days |
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Purchasing : |
Against Payment |
GENERAL INFORMATION
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Suppliers : |
Vision Merchandising , Mumbai Surya Threads Private Limited Paridhan , |
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Customers : |
Mainly for Kabadi Group, |
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No. of Employees : |
8 |
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Bankers : |
Bank Of |
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Facilities : |
Operating on own funds |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Bhavana Likith Enterprises , |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.4.000 millions |
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Borrowed : |
Rs.0.000 millions |
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Total : |
Rs.4.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
1.900 |
0.800 |
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Profit/Loss for the year |
Indicated
around12 to15% |
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LOCAL AGENCY FURTHER INFORMATION
Web Site Details Attached
Subject was established in the year 2004 and
within a period of two years they have niche
for their impeccable quality products in the national as well as international market inception , They have constantly redefined and mastered their core
competencies , through work. They provide finished and loom state furnishing fabrics like silk dupion excusive jacquards and
organza , hand and machine embroideries , jacquards , satins , linen and many
more varieties to the fabric manufacturers and importes across the globe . From concept to stimulation sampling to shipment,everything adhere to
rigid time frame . they are always dedicated to support customers with the
continuous flow of new products and punctual
and prompt delivery of the product. They are always willing to go this
extra mile for producing excellent quality of silk fabrics in tune with the
latest designs and the current trends.
Their products
They
are well equipped to produce products that are based on innovative designs. They specialize in the creation of
hand embroidery on cushion cover , bedspread and duvet covers. Their products
are natural silk , raw silk. They offer
an infinite range in weight , colour, design and texture to suit every
decorative . Their elegant , innovative and vibrant range of products include:
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Computerized Embroidery
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Silk
Furnishing
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Silk Cushion Cover and Curtains
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Natural Silk Fabrics
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Silk Blended
Textiles
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Embroidered
Fabrics
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Home Furnishing
Fabrics
Their Strength
They have a dexterous handloom and powerloom
weavers who are skilled enough to convert your
creative and innovative desires into reality . Stringent quality
measures ensure that all our products
specialities of international standards in terms of technology,
production , process and input quality control norms and ensure that every
piece manufactured is hundred percent
fault customer expection . They constantly improve and evolve upon our quality standards to cope up global
challenge. Their state of the
art infrastructure , modern machineries and cutting edge technology helped us
to become the most ideal exporter and manufacturer of computerized Embroidery ,Furnishing ,
Bedspread , Silk Cushion Cover and curtains in
“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 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.54 |
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1 |
Rs.80.21 |
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Euro |
1 |
Rs.54.51 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
YES |
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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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30 |
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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