MIRA
INFORM REPORT
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Report Date : |
11.06.2007 |
IDENTIFICATION DETAILS
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Name : |
UNITED SALES CORPORATION |
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Registered Office : |
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Country : |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Import and |
LOCATIONS
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Registered Office : |
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SOLE PROPRIETOR
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Name : |
Mr. Vimal Kumar Chaudhary |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Import and |
GENERAL INFORMATION
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Suppliers : |
v
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N K Sureka and Company v
Surya Ferrous Alloys Private Limited v
Tetusho Kayaba Corporation |
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Customers : |
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Ahmednagar Rolling Mills Private Limited v
Alok Ingots Private Limited v
Amar Ispat Private Limited v
Amit Jain v
Anshul Steels Limited v
AOI SANGYO Company Limited v
Asian Sales Corporation v
Bholaram Metal Industries Private Limited v
Fairdeal Enterprises v
Gupta Agro Agency v
Harisons SteelsPrivate Limited v
Iama Steels v
Jai Ambe Industries v
v
v
Liberty Steel Processor Private Limited v
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Nasik Strips Private Limited v
Omkar Steel Private Limited v
Parmeshwari Steels v
R K Trading Company v
Sal Steels v
Shiv Sagar Steel Rolling Mill v
Solo Steel Company Private Limited v
United Cargo Carriers v
Vijay Steels |
GENERAL OBSERVATION
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Reference: |
Mr. Loke |
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Name: |
Harisons Steel Private Limited |
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Contact No.: |
91-9323411401 |
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Since How Long
Known: |
6 months |
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Experience: |
Satisfactory |
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Comments: |
Although they had small dealings with them, so far they have not heard
anything adverse against them. |
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Reference: |
Mr. Hari Prasad |
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Name: |
Alok Ingots Private Limited |
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Since How Long
Known: |
5 years – 6 years |
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Experience: |
Satisfactory |
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Maximum Amount
dealt: |
Rs. 0.010 million |
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Reference: |
Mr. Ravi |
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Name: |
Hira Steel Industries Private Limited |
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Since How Long
Known: |
January 2007 |
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Experience: |
Satisfactory |
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Maximum Amount
dealt: |
Rs. 10.000 millions |
v No further contacts could be possible based on information in inquiry.
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. 40.98 |
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1 |
Rs. 80.98 |
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Euro |
1 |
Rs. 54.99 |
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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