MIRA
INFORM REPORT
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Report Date : |
01.09.2007 |
IDENTIFICATION DETAILS
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Name : |
AASHITA INTERNATIONAL |
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Registered Office : |
105, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1992 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Service Provider ·
Import/Export
of container booking ·
Import/Export
of air cargo ·
Customs
clearance ·
Project
planning ·
Issuance
of licenses under project, etc. from relevant ministries ·
Registration/Conciliation
of project ·
Freight
booking of break bulk parcel cargoes, including heavy lifts ·
Inland
transportation ·
Physical
mounting of heavy units in their foundations ·
Chartering
brokering for container and bulk vessels. |
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 8400 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern having satisfactory
track. Proprietor is reported as
experienced and respectable businessman.
Trade relations are reported as fair.
Business is active. Payments
are usually correct and as per commitments. The concern can be considered normal for business dealing at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
105, |
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Tel. No.: |
91-79-40036405 / 40036406 |
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Mobile No.: |
91-9327013374 / 9825048950 |
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Fax No.: |
91-79-26871267 |
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E-Mail : |
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Area : |
550 Sq. ft. |
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Location : |
Owned |
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Branches : |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Siddharth Anantrai Pancholi |
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Designation : |
Proprietor |
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Mobile No. : |
91-9327013374 |
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Date of Birth/Age : |
48 Years |
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Qualification : |
Graduate |
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Experience : |
18 Years |
BUSINESS DETAILS
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Line of Business : |
Service Provider ·
Import/Export
of container booking ·
Import/Export
of air cargo ·
Customs
clearance ·
Project
planning ·
Issuance
of licenses under project, etc. from relevant ministries ·
Registration/Conciliation
of project ·
Freight
booking of break bulk parcel cargoes, including heavy lifts ·
Inland
transportation ·
Physical
mounting of heavy units in their foundations ·
Chartering
brokering for container and bulk vessels. |
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Terms : |
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Selling : |
Credit (15 days) |
GENERAL INFORMATION
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Customers : |
Companies |
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No. of Employees : |
7 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Pankaj Shah & Company Chartered Accountant |
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Tel. No.: |
91-79-26446591 |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.600 Million |
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Borrowed : |
Rs. 1.500 Million |
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Total : |
Rs. 2.100 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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30.000 |
20.000 |
Expected Sales (2007-08) : Rs.40.000 Millions
LOCAL AGENCY FURTHER INFORMATION
- Mamta
Machineries Private Limited
- Sumati
Exports
- Glaxy Exports
- Alpha Eka
India Limited
AS PER WEBSITE
DETAILS :
Subject and INTERNATIONAL CARGO SERVICES have created some of the most pioneering episodes of custom clearance, logistic,
transport, and freight forwarding.
From a very
modest beginning to the accomplishments based on advanced technologies and
perfect services in varied sectors, their group has left an indelible mark as
licensed custom house agents abiding by the simple concept of
"Containerisation". With their special strength headquartered at
Ahmedabad and viz. in Vadodara,
Their Horizons
With each successful
foray of delivery, they have been translating many a dreams into reality. Today
AASHITA INTERNATIONAL and INTERNATIONAL CARGO SERVICES are a
force to reckon with, with its proven track record of maintaining high
standards of quality, safety and futuristic planning. This thorough experience
has rewarded them repeat business from their clients having diverse requirements---Galaxy
Expert, Abha ICG Ltd., Mamta Machine Pvt. Ltd. to name a few.
Their remaining strong customer base is as follows:
- Mumal Marbles Ltd.
- Jai International
- Rachna Exports
- Taichongbang Textiles Ltd.
- B.T. Kharawala and Sons
- Shiva Plastics Ltd.
- Gujarat Woollen Mills Ltd.
Their flexibility and dynamism in context to their work procedure
keeps them abreast of the top position synergy. Their customers have posed
immense faith in their competence as credible air freight carrier and they
endeavour to prove them right.
In today's changing world, where time is scarce and consumers want
the most out of their investment, they have set out to redefine the way
consumers think about fast delivery. They have the power that redefines your
idea of expansiveness, through breaking the boundaries of space. They have the
privileges that stretch your mind....to higher and unbelievable levels of
sensory experiences
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 40.96 |
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1 |
Rs. 82.55 |
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Euro |
1 |
Rs. 55.96 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
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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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. |
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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