MIRA INFORM REPORT
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Report Date : |
30.04.2007 |
IDENTIFICATION DETAILS
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Name : |
SRI
CHANDANA AGENCIES |
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Registered Office : |
Shop
No 30 / 1B, TPL Complex, Bagalur Road, Hosur – 635 109, Tamilnadu |
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Country : |
India |
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Date of Incorporation : |
February
2007 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Distributorship
of Motorola handsets. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD
2000 |
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Status : |
New
Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject
is just a 2 months old concern and yet to establish itself. Nothing much could be said at
present. No payment could be available. The
Concern can be considered for small business dealings with slight caution
initially. |
LOCATIONS
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Registered Office : |
Shop
No 30 / 1B, TPL Complex, Bagalur Road, Hosur – 635 109, Tamilnadu |
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Mobile No.: |
91-9865836099 |
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E-Mail : |
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Corporate
Office : |
Shop
No 30 / 1B, TPL Complex, Bagalur Road, Hosur – 635 109, Tamilnadu |
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Mobile
No.: |
91-9865836099 |
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E-Mail
: |
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SOLE PROPRIETOR
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Name : |
Mrs.
Shivani Yogesh |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Distributorship
of Motorola handsets. |
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GENERAL INFORMATION
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No. of Employees : |
4 |
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Bankers : |
ING
Vysya Bank Ltd, Hosur |
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CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
0.500
million |
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Borrowed : |
- |
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Total : |
0.500
million |
LOCAL AGENCY FURTHER INFORMATION
This is a proprietorship firm started two months ago. A baby as yet this firm is owned by Mrs.
Shivani Yogesh. Her husband runs the
show. They have taken distributorship for
Motorola handsets / mobiles and other related products like phone cards
etc. Now the show is being run by Mr.
Yogesh and his brothers. They do not
have any experience in this line but have done some other business
earlier. There is no history of their
business practices or any other information.
They do not have a land line or fax.
They are managing only with a mobile and a small email id.
Caution advised in all transactions with them as there is no way to
assess their financial strength at all.
No direct supplies advised.
Documents thru bank or deposit to be taken. Their only strength is that they have distributorship of Hosur a
pulsating industrial township near Bangalore and hence they can expect maximum
sales. The shop is also located in a big
complex on the main road which is to their advantage.
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. 41.29 |
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UK
Pound |
1 |
Rs. 82.30 |
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Euro |
1 |
Rs. 56.20 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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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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19 |
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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