MIRA INFORM REPORT
|
Report
Date : |
25.05.2007 |
IDENTIFICATION DETAILS
|
Name : |
KAILASH
& COMPANY |
|
|
|
|
Registered
Office : |
ACME Pl |
|
|
|
|
Date
of Incorporation : |
Around 8 / 9 years back |
|
|
|
|
TAN
No.: [Tax Deduction & Collection
Account No.] |
MUMK03323F |
|
Legal
Form : |
Subject is a sole Proprietory Concern. |
|
|
|
|
Line
of Business : |
Traders
and importers in of chemicals. (Specialist in Acrylic Acid, Butyl Acrylate Monomer,
Acetonitrile, Dimethyl Formamide) |
RATING
& COMMENTS
|
MIRA’s
Rating : |
Ca |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum
Credit Limit : |
- |
|
|
|
|
Status
: |
Moderate |
|
|
|
|
Payment
Behaviour : |
Unknown |
|
|
|
|
Litigation
: |
Unknown |
|
|
|
|
Comments
: |
Despite our numerous attempts Mr. Bharat Kasat and Mr.
Daresh once again declined business & financial details. He remained
non-cooperative and irresponsible during our interactions. Subject appears to be a small and unknown concern in
chemical trading community. No payment are available. Kasat are not favorably
spoken for their behaviour in the local market. The concern can be considered
for any business dealings on safe & secured trade terms & conditions. |
LOCATIONS
|
Registered
Office : |
384-M,
Dabholkar Wadi, |
|
Tel.
No.: |
91-22-22050750 |
|
Fax
No.: |
91-22-22052917 |
|
Area : |
150 sq. fts. |
|
Location : |
Rented |
|
|
|
SOLE
PROPRIETOR
|
Name : |
Mr. Kailash Kasat |
|
Designation
: |
Sole Proprietor |
BUSINESS
DETAILS
|
Line
of Business : |
Traders
and importers of chemicals. (Specialist in Acrylic Acid, Butyl Acrylate Monomer,
Acetonitrile, Dimethyl Formamide) |
|
Terms
: |
|
|
Selling : |
Cash or Credit |
|
|
|
|
Purchasing : |
L/C, Cash or Credit |
GENERAL
INFORMATION
|
Customers
: |
Wholesalers & Retailers |
CAPITAL
STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs. 0.500 million |
|
Borrowed : |
-- |
|
Total : |
Rs. 0.500 million |
FINANCIAL
DATA
[all
figures are in Rupees Millions]
[ESTIMATED]
|
Particulars |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
Sales
Turnover |
10.200 |
10.200 |
3.000 |
LOCAL
AGENCY FURTHER INFORMATION
Group head office is owned by Kasat family. There are few
sister concern in the same business whose names
are –
- Haresh
Petrochem
- Haresh
Chemicals
- Haresh
Orgochem
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
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 40.60 |
|
|
1 |
Rs. 80.65 |
|
Euro |
1 |
Rs. 54.55 |
SCORE
& RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP
CAPITAL |
1~10 |
3 |
|
OPERATING
SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
- |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT
LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
NO |
|
TOTAL |
|
24 |
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 |