MIRA
INFORM REPORT
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Report Date : |
06.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
PLANET 7 INTERNATIONAL |
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Registered Office : |
A-65, PIPDIC Electronic Park
Thirubuvanai, Pondicherry – 605105, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1996 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Assemblers, Manufacturers, Importers and Exporters of
Electric and Hybrid Vehicles. |
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 20000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established concern and doing steady business.
Trade relations are fair. Payments 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: |
No. 245, 2nd Floor, Thiruvallur Salai, Pondicherry |
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Tel. No.: |
91-44-2473705 |
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E-Mail : |
admin@planet-7.com, jaya@planet-7.com, president@planet-7.com |
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Website : |
http;//www.planet-7.com |
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Area: |
1800 Sq. ft |
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Location: |
Rented |
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Corporate Office/Factory : |
A-65, PIPDIC Electronic Park
Thirubuvanai, Pondicherry – 605105, Tamilnadu |
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Tel. No.: |
91-413-2641804 |
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Mobile No.: |
91-98946-77707/98946-704772 |
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Fax No.: |
91-413-2222407 |
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E-Mail : |
admin@planet-7.com, jaya@planet-7.com, president@planet-7.com |
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Website : |
http;//www.planet-7.com |
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Area: |
10000 Sq. ft |
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Location: |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Raj N Sharma
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Designation : |
Proprietor |
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Age: |
38 Years |
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Qualification: |
Graduate |
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Experience: |
15 Years |
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Profile: |
v
Winner of International God Star Millenium award from Prime Minister
of Nepal. v
Winner of Bharat Jyoti Award 2005/2006 on 24 Nov 2006 from Honorable
Union Planning Minister for State, New Delhi v
High achiever award for the year 2005-2006 given by Govt of India v
Winner of the Indira Gandhi Sadbhavana award on 19th November 2006 v
Winner of the Rajiv Gandhi National Shiromani award from NIEC, New
Delhi v Invited for the
International Solar and Electric power Conference at California in October, 2006 |
BUSINESS DETAILS
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Line of Business : |
Assemblers, Manufacturers, Importers and Exporters of
Electric and Hybrid Vehicles. |
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Brand Names : |
v Visakha GB2 v Visakha Deluce v O - Zon |
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Exports : |
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Products : |
Hybrid vehicles |
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Countries : |
Sri Lanka |
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Imports : |
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Products : |
Hybrid/Electric vehicles |
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Countries : |
China, Taiwan and Korea |
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Terms : |
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Selling : |
Cash & Credit (30 days) |
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Purchasing : |
Cash & credit (30 days) |
GENERAL
INFORMATION
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Customers : |
Distributors |
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No. of Employees : |
37 |
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Bankers : |
v ICICI Bank,
Pondicherry v Union Bank of India,
Pondicherry v Citibank,
Pondicherry |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Memberships : |
Nil |
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Collaborators : |
Nil |
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Associates/Subsidiaries : |
G Force Energy Limited Line of Business – Marketers of Battery Operated and Two Wheelers Sales Turnover – Rs. 30.000 Millions
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 5.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2006 |
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Sales Turnover |
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30.000 |
Expected Sales (2006-07) : Rs. 45.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Business
The factory right now (at Pondicherry) is operating as a assembling unit
only. NO production activities, though
production activities are planned for future.
ISO 9001-20000 Company
AS PER WEBSITE DETAILS
Planet -7 international, a sister concern of GForce Energy Ltd. ( registered in Rajkot, Gujarat) is engaged in manufacturing assembling / importing electric vehicles and hybrid electric vehicles. Its vision is to offer an efficient, economical and eco friendly future to the Indian transportation. This new Auto division based at Union Territory of Pondicherry intends to cater the common man's need for both individual and mass transportation. It will always strive to provide the futuristic driving solutions through unconventional, environment friendly, innovative yet reliable technology and enduring products. Based upon innovative, novel ideas and best quality practices, company intends to bring a revolutionary change in Indian Automobile Market. . Its excellent practices for customer care will continue to be the backbone.
News
Rajkot, November, 4 (ANI): Electronic motorcycles, popularly
known as E-bikes, are making waves in Rajkot.
The state-based Planet-7
International in association with three American companies has introduced
E-bikes and E-bicycles which can run without the use of petrol.
The E-bikes run on
electrically rechargeable dry battery and are both pollution free and cost
effective, with a minimal expense of
five rupees per 100 kilometers.
The bikes have already
started receiving overwhelming response especially from the younger generation.
An E-bike user, Jaidevsinh
Parmar, said that he was satisfied after successfully using this bike for the
last six months. "This is an eco-friendly bike that is why I bought this
bike. I have been riding this for the last few months. There are no petrol expenses. This is also a
pollution-free bike," he said.
Around 330 E-bikes and
E-bicycles are already running on Gujarat roads after the bikes were formally
launched in Gujarat some two and a half months back.
Dilip Khachar, an E-bike
distributor, said the bike had some attractive features. A fully-charged
battery (requiring two hours) ran upto 80 to 90 kilometers. The price of these
bikes ranged between Rs. 0.009 Millions and Rs. 0.027 Millions.
Since the bikes are under
the stipulated 25 cc, they do not require registration from the Road Transport
Office (RTO). "The bike which is charged for almost two hours, runs upto
80 to 90 kilometers. The bike is priced between 9,000 rupees and 27,000 rupees
and around 20 models are available in bike and bicycle category. The bikes do
not require RTO (Road Transport officer) registraation.The bike is cost-effectiove
and eco-friendly. We are tying up with other companies for a bigger
launch," Khachar said.
Initially, the E-bikes were
manufactured in China and hence had a design more popular there, which included
round shaped body and single seat.
The company redesigned some
of the bikes according to Indian taste having front body in a pointed shape and
seat for two. The company has launched several attractive schemes including
renting the vehicle at a nominal charge of 250 rupees per week or 700 rupees for
a month.
The company is also
targeting the rural segment and believes E-bikes will be a hit among the rural
masses.(ANI)
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.49 |
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UK Pound |
1 |
Rs.85.71 |
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Euro |
1 |
Rs.58.53 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
YES |
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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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