MIRA
INFORM REPORT
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Report Date : |
31.05.2007 |
IDENTIFICATION DETAILS
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Name : |
NOVA PHOTOS |
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Registered Office : |
55-58, Ansari Market, Darya Ganj, New Delhi-110002, |
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Country : |
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Date of Incorporation : |
Around 1988 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Exporter of Photographic Films and Paper, Nova Albums, Electronic
Cameras or Flash Guns, Industrial Electronics and Automation Equipments,
Papers, Roll Printing and Packaging. |
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 : |
Small concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Management remained non cooperative despite of several approaches. The concern is an importer and traders of Photographic materials. Trade relations are reported as fair. No payment are available. Initially, the concern can be considered for small to mediocre
business dealings on safe and secured trade terms and conditions. |
LOCATIONS
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Registered Office : |
55-58, Ansari Market, Darya Ganj, New Delhi-110002, |
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Tel. No.: |
91-11-23283566/ 23283567/ 23283568 |
SOLE PROPRIETOR
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Name : |
Mr. Pradeep Arora |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Exporter of Photographic Films and Paper, Nova Albums, Electronic
Cameras or Flash Guns, Industrial Electronics and Automation Equipments, Papers,
Roll Printing and Packaging. |
GENERAL INFORMATION
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No. of Employees : |
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Bankers : |
ICICI Bank, Darya Ganj New Delhi-110002 |
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Banking
Relations : |
-- |
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Associates/Subsidiaries : |
Photo Deal Agencies 57-58, Ansari Market, Darya Ganj, New Delhi-110002 Techno Foto Private Limited CIN : U74899DL1988PTC032419 Registered on : 12.07.1988 Registered Office : 68, Darya Ganj, New Delhi-110002 Factory : F 13/14, Surajpur Industrial Area, Site C, Surajpur Gautam
Budh Nagar, Noida, Uttar Pradesh Tel. No.: 91-118-3283567/ 4583714 Activities : Manufacturer and Exporter of Photographic Films and
Paper, Nova Albums, Electronic Cameras or Flash Guns, Industrial Electronics
and Automation Equipments, Papers, Roll Printing and Packaging. |
LOCAL AGENCY FURTHER INFORMATION
MINISTRY OF COMMERCE AND INDUSTRY
(Directorate General of Anti-Dumping & Allied Duties)
NOTIFICATION
PRELIMINARY-FINDINGS
Sub: Anti-Dumping Investigation
concerning import of Black & White photographic paper including both Resin
coated/fibre based from
No. 19/1/99-DGAD.- Having regard to the Customs Tariff Act 1975 as amended in 1995 and the Customs Tariff (Identification, Assessment and Collection of Anti-Dumping Duty on bumped Articles and for Determination of Injury) Rules, 1995, thereof:
A. PROCEDURE
1. The procedure described below has been followed with regard to the investigation:
i) The Designated Authority (hereinafter also referred to as Authority), under the above Rules, received a written application from the Petitioner M/s The New Indian Industries Limited (NII) and M/s Hindustan Photo Films Manufacturing Company Limited (HPF) having registered offices at Jetalpur Road, Post Box No. 2511, Baroda-390005 and Post Bag no. 1, Indu Nagar, Ootacamund643005 respectively on behalf of domestic industry, alleging dumping of Black & White photographic paper including both Resin coated /fibre based (hereinafter also referred to as subject goods) originating in or exported from UK, France, Hungary and Czech Republic.
ii) Preliminary scrutiny of the application filed. by petitioner revealed certain deficiencies, which were subsequently rectified by the petitioner. The petition was, therefore, considered as properly documented.
iii) The imports from
iv) The Authority issued a public notice dated 27.8.99 published in the Gazette of India,, Extraordinary, initiating anti-dumping investigations concerning imports of the subject goods classified under custom Code 3703.10 & 3703.90 of Schedule I of the Customs Tariff Act, 1975 originating in or exported from UK, France do Hungary.
v) The Authority forwarded a copy of the public notice to all the known exporters (whose details were made available by petitioner ) and industry associations and gave them an opportunity to make their views known in writing in accordance with the Rule 6(2):
vi) The Authority forwarded a copy of the public notice to
all the known importers (whose details were made available by petitioner) of
subject goods in
vii) Request was made to the Central Board of Excise and
Customs (CBEC) to arrange details of imports of subject goods made in
viii) The Authority provided a copy of the petition to the known exporters and the Embassy of the subject countries in accordance with Rules 6(3) supra. A copy of the petition was also provided to other interested parties, wherever requested.
ix) The Authority sent a questionnaire to elicit relevant information to the following known exporters/producers, in accordance with the Rule 6(4):
1. Ilford Limited,
2. Agfa-Gevaert S.A. C/o M/s Bayer India Limited,
3. Kentmere Limited,
4. Forte Photochemical Company,
5. Chemofort Trading
A number of parties requested for extension of time for filing information, which was allowed on due cause shown by the Authority upto 15.11.99.
x) The Embassies of the subject countries in
xi) A questionnaire was sent to the following known importers/user associations of the subject goods for necessary information in accordance with Rule 6(4):
1. Allied Photographics India Limited. (APIL), Mumbai
2. Jindal Photo films Limited.,
3. Techno Foto Private Limited, Uttar Pradesh
4. Sundar International, Mumbai
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 |
6 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
-- |
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--LEVERAGE |
1~10 |
-- |
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--RESERVES |
1~10 |
-- |
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--CREDIT LINES |
1~10 |
4 |
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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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22 |
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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