MIRA
INFORM REPORT
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Report Date : |
21.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
OBERAI OVERSEAS PRIVATE LIMITED |
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Registered Office : |
165, Bharat Nagar, Ludhiana – 141 001, Punjab |
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Country : |
India |
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Date of Incorporation : |
06.08.2003 |
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Com. Reg. No.: |
26263 |
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CIN No.: [Company
Identification No.] |
U51311PB2003PTC026263 |
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IEC No.: |
3003008315 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JLDO00470B |
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PAN No.: [Permanent
Account No.] |
AAACO5999H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer Of Bed Covers, Pillow Covers, Cushion Covers, Runners and
Throws. |
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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a 4 years old company. The Management claims to have an annual
income of about Rs. 300 millions, but officially shows an income of only Rs.
5 millions. The company has not filed any financials with Government Registry
till date. Payments are reported as slow but correct. The company can be considered for small to mediocre business dealings
with slight caution, initially. |
LOCATIONS
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Registered Office : |
165, Bharat Nagar, Ludhiana – 141 001, Punjab, India |
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Tel. No.: |
91-161-2442269 / 5165 |
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Mobile No.: |
91-9814022359 / 9872422357 |
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Fax No.: |
91-161-2440231 |
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E-Mail : |
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Website : |
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Area : |
10000 sq.fts. |
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Location : |
Owned |
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Warehouse: |
806/2, Gurdev Nagar, post Office lane, Ludhiana – 141 001, Punjab |
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Tel. No.: |
91-161-4646353 / 2406211 / 2401636 |
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Fax No.: |
91-161-2440231 |
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Outlets: |
Located at : · Amritsar, · Jalandhar, · Chandigarh |
DIRECTORS
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Name : |
Mr. Venay Oberai |
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Designation : |
Director |
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Address : |
806/2, Gurudev Nagar, post Office lane, Ludhiana – 141 001 |
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Date of Birth/Age : |
63 years |
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Qualification : |
Post graduate |
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Name : |
Mrs. Rashma Oberai |
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Designation : |
Director |
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Address : |
806/2, Gurudev Nagar, post Office lane, Ludhiana – 141 001 |
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Date of Birth/Age : |
52 years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer Of Bed Covers, Pillow Covers, Cushion Covers, Runners and
Throws. |
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Products : |
·
Bed Covers ·
Quilts ·
Duvet Sets ·
Pillow Covers ·
Cushion Covers ·
Table Cloths ·
Table Mats ·
Napkins ·
Curtains |
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Exports : |
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Products : |
All products |
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Countries : |
Canada, Scandinavia, various part of Europe and America |
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Terms : |
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Selling : |
L/C, Cash |
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Purchasing : |
L/C, Cash |
GENERAL
INFORMATION
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Customers : |
Wholesalers, Retailers |
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No. of Employees : |
220 (20 in office and 200 in factory) |
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Bankers : |
HDFC Bank Address: Mal Road Branch |
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
R K Kapoor and Company Chartered Accountants |
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Address : |
Ludhiana, Punjab |
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Associates/Subsidiaries : |
Oberai Printers Address: 165, Bharat Nagar, Ludhiana – 141 001, Punjab Activity: Printing of papers, labels. |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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20000 |
Equity shares |
Rs. 10/- each |
Rs. 0.200 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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20000 |
Equity shares |
Rs. 10/- each |
Rs. 0.200 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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300.000 |
285.000 |
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Officially |
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5.000 |
0.000 |
Note: The management claims annual income of Rs. 300.000
millions and officially Rs. 5.000 millions.
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFRENCE:
Only own outlets and local customers.
WEBSITE DETAILS:
They are a
distinguished brand in the home furnishing industry. Subject was founded in 2004 with a mission to
successfully place itself as a manufacturer and exporter, both in the domestic and international
market. At present, they export their premium quality Home Furnishing
Products to different parts of the
world including Canada, Scandinavia and various parts of America and Europe.
Almost 90% of their products are exported and are highly adorned by their
valued clients for their superb quality, exclusive designs and mind boggling
styles.
The secret behind
this rapid growth and unequaled success of the company lies in its
uncompromising quality centric approaches. Their designers have vast experience
and in-depth knowledge about different traditional and contemporary trends.
They are highly creative and have distinguished ability to craft Bed
Covers, Quilts, Duvet Sets, Pillow Covers, Cushion Covers, Table Clothes, Table
Mats, Napkins, Curtains, etc. Each of
their products is available in numerous variety of color, design and theme.
Their products are always competitively priced and made of the finest quality
fabrics. Thus, they can guarantee full customer satisfaction upon which all
their efforts have always remained focused.
Product Range
Oberai Overseas Private Limited is an internationally acclaimed business house engaged as a manufacturer and exporter of a premium range of Home Furnishing Products. The product portfolio of their company comprises of the following items-
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Bed Covers
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Quilts
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Duvet Sets
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Pillow Covers
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Cushion Covers
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Table Cloths
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Table Mats
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Napkins
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Curtains
Quality
They, at the
company, adopt a stringent quality management system in pursuit of their
business success and to sustain the trust of their valued customers upon them.
A well defined quality control policy is maintained in all areas of their
business so that quality objectives can be achieved effectively and with
excellence. At the manufacturing process, internationally acclaimed quality
norms are followed at every stage- right from the procurement of raw material
to the dispatch of finished products. Finest quality fabrics (silk, cotton,
taffeta,etc.) are procured from highly reliable sources. Cutting edge
manufacturing technologies are applied and each and every product is inspected
thoroughly at their in-house quality testing lab. As a result of such extent of
quality consciousness, they never fail to earn complete satisfaction of their
valued customers.
Strength
At the company, they
have a world class infrastructure which empowers them to achieve the zenith of
performance in all areas of their activity. It enables them to be stable and
deliver quality products and services consistently to their clients. The
factory premise of their company is highly advanced and well equipped with a
range of sophisticated imported machinery (from Taiwan and China) required in
their field. There is also an in-house quality testing lab with hi-tech testing
facilities. In addition, they have established a widespread business network
which enables them to serve client requirements efficiently on time. A workforce
comprising of expert technocrats, highly creative designers and a efficient
management team boosts them to operate their business activities with superb
excellence and thus, to set their selves apart in the highly competitive
industry.
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.39.34 |
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UK Pound |
1 |
Rs.80.72 |
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Euro |
1 |
Rs.57.71 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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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 |
3 |
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--PROFITABILIRY |
1~10 |
1 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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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 |
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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22 |
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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