MIRA INFORM REPORT
|
Report
Date : |
05.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
TOP TANS |
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Registered
Office : |
8/2, Dr. Biresh Guha Street, Kolkata – 700017, West Bengal |
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Country
: |
India |
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Financials
(as on) : |
31.03.2006 |
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Date
of Incorporation : |
1982 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
CALT01430C |
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|
Legal
Form : |
Partnership concern with an unlimited liability of the
partners |
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|
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|
Line
of Business : |
Manufacturer and exporter of finished & semi –
finished, leather goods and leather garments. |
RATING & COMMENTS
|
MIRA’s
Rating : |
Ba |
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum
Credit Limit : |
|
|
|
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|
Status
: |
Satisfactory
|
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Payment
Behaviour : |
Slow but
correct |
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Litigation
: |
Clear |
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Comments
: |
The report is based on an interview with Mr. Saurabh Ali,
Accountant of the concern. As such most of the information has been denied by the
management. Trade relations are fair. Payments are reported as slow
but correct. Nothing adverse reported. The concern can be considered normal for business dealings
at usual trade terms and conditions. |
LOCATIONS
|
Registered
Office / Head Office : |
8/2, Dr. Biresh Guha Street, Kolkata – 700017, West
Bengal, India |
|
Tel.
No.: |
91-33-22479196 / 22879196 / 22833158 |
|
Fax
No.: |
91-33-22281882 |
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E-Mail
: |
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|
Area : |
800 sq. ft. [Owned] |
|
Location : |
Commercial |
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|
|
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Factory
/ Warehouse : |
47/1B, Ghulam Jilani Khan Road, Kolkata – 700039, West
Bengal, India |
|
Area : |
15000 sq. ft. [Owned – Including Warehouse] |
|
Location : |
Industrial |
PARTNERS
|
Name : |
Mr. Parvez Akhtar |
|
Designation
: |
Partner |
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|
|
|
Name : |
Mr. Zamil Ahmed |
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Designation
: |
Partner |
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Address
: |
8/2, Dr. Biresh Guha Street, Kolkata – 700017, West
Bengal, India |
|
Age : |
49 Years |
|
Qualification
: |
B. Com |
|
Experience
: |
29 Years |
|
|
|
|
Name : |
Mr. Shakil Ahmed |
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Designation
: |
Partner |
BUSINESS DETAILS
|
Line
of Business : |
Manufacturer and exporter of finished & semi –
finished, leather goods and leather garments. |
|
|
|
|
Exports
to : |
Ø
Australia Ø
Denmark Ø
Germany Ø
Holland Ø
Italy Ø
New
Zealand Ø
Russia
Ø
U.K. Ø
U.S.A. |
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|
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Imports
from : |
Germany |
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|
|
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Terms
: |
|
|
Selling : |
D/A or Cash Against Documents |
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|
|
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Purchasing : |
Cash or Credit [30/90 days] terms CAD [120 days] terms |
GENERAL INFORMATION
|
Suppliers
: |
Ø
Bajaj
Chemicals Ø
Elegent
Fashion Ø
Fibre
Chemicals Private Limited |
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|
|
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Customers
: |
Wholesalers and Retailers |
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No. of
Employees : |
35 |
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Bankers
: |
The Karnataka Bank Limited Shubham Building, 1, Sarojini Naidu Sarani, Kolkata – 700017, West Bengal, India Allahabad Bank 2nd Floor, White House, 119, Park Street,
Kolkata – 700016, West Bengal, India |
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|
|
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Banking Relations : |
Satisfactory |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2007 [Expected] |
31.03.2006 |
31.03.2005 |
|
Sales
Turnover (estimated) |
180.000 |
155.000 |
150.000 |
LOCAL AGENCY FURTHER INFORMATION
The concern’s production depends upon orders in hand
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
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.28 |
|
UK Pound |
1 |
Rs.86.62 |
|
Euro |
1 |
Rs.58.32 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT
LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT
POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER
ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT
POINTS |
|
|
|
--SOLE
DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT
ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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
|
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the
strongest capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet
normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight
in credit consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be
exercised |
Credit not recommended |
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