MIRA
INFORM REPORT
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Report Date : |
27.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
EXPRESS CARGO CARRIERS |
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Registered Office : |
9189/4, Multani Dhanda, Pahar Ganj, New Delhi 110 055 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1999 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Subject act as a Cargo Agents, Air Carriers, Cargo Carriers, Goods
Transporters, Transporter, Cargo Service, Cargo Forwarding Agents and Cargo
Clearing Service. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 5000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed concern having satisfactory
track. Proprietor is reported as experienced and respectable businessman.
Trade relations are reported as fair. Business is active. Payment are usually
correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
9189/4, Multani Dhanda, Pahar Ganj, New Delhi 110 055 |
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Tel. No.: |
91-11-32463103/41597519 |
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Mobile No.: |
91-9810691322 / 9350223552 |
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Fax No.: |
91-11-41541345 |
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E-Mail : |
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Area : |
700 Sq. Ft |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr.Soumen Bhowmik |
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Designation : |
Proprietor |
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Date of Birth/Age : |
43 Years |
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Qualification : |
Graduate |
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Experience : |
20 Years |
BUSINESS DETAILS
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Line of Business : |
Subject act as a Cargo Agents, Air Carriers, Cargo Carriers, Goods
Transporters, Transporter, Cargo Service, Cargo Forwarding Agents and Cargo
Clearing Service. |
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Terms : |
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Selling : |
L/C, DA, DP Local Sale: Cash |
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Purchasing : |
L/C, DA, and DP |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
Total :100 (Other :30,
Contract labor :70 |
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Bankers : |
A B N Amro Bank, Bara Khamba Road, New Delhi –
110001 Vijaya Bank, Rama Road, Phar Gang, New Delhi – 110055 UTI Bank Limited, Statesmen House, S. Place, New Delhi – 110001 |
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Banking
Relations : |
-- |
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Associates/Subsidiaries : |
Trans India Logistics 9189/4, Multani Dhanda, Pahar Ganj, New Delhi 110 055 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 1.500 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
Joint Financial for both the companies
Express Cargo Carriers
Trans India Logistics
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Particulars |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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20.000 |
15.000 |
Expected Sales (2006-07) : Rs. 22.500 Millions And for March 2008 : Rs .
30.000 Millions
Profit (Loss) Before Tax: 12%
Profit (Loss) After Tax: 9%
LOCAL AGENCY
FURTHER INFORMATION
TRANS INDIA LOGISTICS
Express Cargo Carriers is a reputed name in the cargo industry. For the last 15
years, they have been serving the various Courier and Cargo companies, which
means they probably have served you indirectly.
THE BASIS OF THEIR FORMATION
It is a very difficult task to carry the cargo across the length and breadth of the country in time bound compulsion. Therefore, they have a very experienced, organized, gusty ground operation. You may be knowing more famous and fancy names but frankly speaking, they do not have the machinery and ability to execute such works. That is where, they come into being. They actually do the work, connecting the cargo's across the length and breadth of the country for the various reputed companies.
They have added worldwide services to their 'ARSENAL'. They have tie-ups with worldwide giant air carriers. Now, they can connect the cargo to any part of the world.
ELIMINATE THE MIDDLE MAN
The more known companies who may be serving you right are nothing more than middle man. When they are the actual doers, what is the need of paying the middle men just for their brand names? Get direct with them, reduce the cost, get their service directly.
IT IS MORE PRACTICAL
It is more sensible to deal directly with those who are actually doing the work, since they will be able to know the actual position of the consignment. They will give every detail of transit.
ALL MODES OF LOGISTICS
Depending on the requirements, they will use any mode of transit: land, rail, air- whatever you think right.
IT IS ACTUALLY CARGO MANAGEMENT
They do not provide just cargo service but total cargo management. They will give you proper guidance, taking into account the budget, the requirements and the necessities. They will give you optimum advice and service for the best possible modes and means of transiting the cargo. They will not misguide you for more money. They are looking forward to lasting relationship.
The bottomline is reduce the cargo costs, at the same time, improve upon the service that you get. Try them out for a hassle free, less expensive, prompt service. Just leave the logistic requirements to them and relax.
Registered category a freight carriers of Indian railways.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts, India Prisons Service, Interpol, etc.
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.44.28 |
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UK Pound |
1 |
Rs.86.62 |
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Euro |
1 |
Rs.58.32 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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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45 |
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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PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions