MIRA
INFORM REPORT
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Report Date : |
11.06.2007 |
IDENTIFICATION DETAILS
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Name : |
ARIHANT ART EXPORTS |
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Registered Office : |
E- 9, 2nd Phase, Industrial Area, Boranada, |
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Country : |
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Date of Incorporation : |
2001 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Wooden furniture. |
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 : |
Closed |
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Payment Behaviour : |
Unknown |
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Litigation : |
Unknown |
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Comments : |
Subject premises found closed during our several physical visits. 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 : |
E- 9, 2nd Phase, Industrial Area, Boranada, |
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Tel. No.: |
91-2913-290700 / 3294300 |
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Mobile No.: |
91-931402210 |
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Fax No.: |
91-2931-281276 |
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E-Mail : |
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Website : |
SOLE PROPRIETOR
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Name : |
Mr. Mahesh Chand Mehta |
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Designation : |
Proprietor |
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Mobile No.: |
91-931402210 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Wooden furniture. |
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Products : |
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Contemporary range furniture v
Modern range furniture v
Wooden range furniture v
Indian takhat furniture v
Jali furniture v
Wooden gift items v
Indian traditional furniture v
Latest Indian furniture |
GENERAL INFORMATION
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Bankers : |
Not Available |
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Banking
Relations : |
Unknown |
CAPITAL STRUCTURE
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Capital Investment : |
Not Available |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not
Available
LOCAL AGENCY FURTHER INFORMATION
Website details attached:
Profile
Subject was born more than five years back, is already supplying many companies
all around the world. And this is already an advantage for the customer who
becomes part of this business, because the customer has the option to have a
better price and high quality
Subject offers exciting new furniture collection from well established
manufacturers/exporters of wooden furniture and custom made furniture from
With this phenomenon in mind they are working for the better
understanding of buyers’ requirement and catering to their need. Thanks to
their team of dedicated staff, they have shot to fame in a short span of time
and earned for ourselves the reputation of being the provider of world-class
wooden furniture.
The great offers for their esteemed customers are:
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In-house product designing & development
facilities.
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They have huge stock of sheesham wood. Approx.15000
cft. (Cubic feet) is available at any time.
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Chemical & seasoning plant is located in their
own manufacturing unit. Moisture level is strictly maintained between 6 to 8.
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Team of skilled craftsmen is working on regular
basis.
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In-house product fabrication & packaging
facility.
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Having a separate customer support team to give
personalized service to the every customer.
Quality
They believe that the quality control exercise must be simultaneous to
production and is not a terminal exercise for this reason; they monitor the
quality at each stage of production with all respect. Each and every product is
tested for quality. The products undergo stringent quality testing procedures
to eliminate any defects.
All the furniture, every single part of each piece, even the smallest,
is made in solid wood.
Before making the furniture, wood is subjected to seasoning and wood
treatment. They have their own six seasoning and wood treatment plants to
fulfill wood demands. Their in-house seasoning and chemical plants make sure
the right job, especially wood to stay in season for a long time to be dry,
stronger and harder for the shipment
Their craftsmen are trained and have years of experience in creating
masterpieces.
Their production unit is a center of excellence where craftsmen toil
round the clock to churn out products of highest quality. They have the
capacity to undertake any bulk order and complete it in time, as they have
sophisticated machines and manpower at our disposal. These machines have
enhanced the performance of their workers as these are an inseparable part of
production. No child Labour..
If you are in doubt as to the colour of our furniture, you can request a
colour sample
to be sent to you in the post. All sizes are approximate.
Custom Made
The company is a manufacturers and exporters of custom made furniture,
finely detailed and elegantly crafted wooden furniture to suit your style,
taste and budget. They give a great liberty to the interior decorators to build
their furniture as per their design and in required dimension.
If you have any design in your mind please submit them your idea. The picture,
sketch, detailed dimensions sent by you will make our job easier to plan out
the construction and to quote the price.
Their hardware department also looks after the special requirements of
clients, providing customized service. After getting the art ware approved,
they get the castings done in various metals and finishes as per the exacting
requirements of their clients.
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. 40.91 |
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1 |
Rs. 80.46 |
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Euro |
1 |
Rs. 54.60 |
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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