MIRA INFORM REPORT
|
Report
Date : |
25.04.2008 |
IDENTIFICATION DETAILS
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Name : |
SHAILRAJ ASSOCIATES |
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Registered
Office : |
7-Medha,
Sanewadi, I.T.I. Road, Aundh, Pune – 411007, Maharashtra |
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Country
: |
India |
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Date
of Incorporation : |
Since last 2/3 years |
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Legal
Form : |
Sole Proprietory concern |
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Line
of Business : |
Traders and Importers of Commodities |
RATING & COMMENTS
|
MIRA’s
Rating : |
C |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists.
Caution needed to be exercised |
Credit not recommended |
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Status
: |
Poor |
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Payment
Behaviour : |
Unknown |
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Litigation
: |
Unknown |
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Comments
: |
The concern runs in an unorganized fashion. It is unknown to
the consulted trade and business circles. No payment are available. Mr.
Sadhak Saxena remained non-cooperative during current investigations. His
various tall claims could not be verified. Subject can be ignore for any worthwhile business
dealings. Given telephone numbers are now transferred to some
individuals. |
LOCATIONS
|
Registered
Office : |
7-Medha,
Sanewadi, I.T.I. Road, Aundh, Pune – 411007, Maharashtra, India |
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Tel.
No.: |
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Fax No.: |
91-20-25886700
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Area : |
Small |
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Location : |
Rented |
PROPRIETOR
|
Name : |
Mr. Sadhak Saxena |
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Designation
: |
Sole Proprietor |
BUSINESS DETAILS
|
Line
of Business : |
Traders and Importers of Commodities |
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Imports
from : |
Negotiating with Korean Suppliers |
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Terms
: |
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Selling : |
Cash, Credit |
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Purchasing : |
L/C |
GENERAL INFORMATION
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Customers
: |
Wholesalers and Retailers |
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No. of
Employees : |
No one is employed |
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Bankers
: |
Not Available |
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Banking Relations : |
Unknown |
CAPITAL STRUCTURE
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Capital
Investment : |
|
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Owned : |
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Borrowed : |
Not
Divulged |
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Total : |
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FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
|
31.03.2006 |
31.03.2005 |
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Sales
Turnover |
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Not Divulged |
Not Divulged |
LOCAL AGENCY FURTHER
INFORMATION
Nil
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 40.04 |
|
UK Pound |
1 |
Rs. 79.11 |
|
Euro |
1 |
Rs. 63.44 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP
CAPITAL |
1~10 |
2 |
|
OPERATING
SCALE |
1~10 |
2 |
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FINANCIAL
CONDITION |
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|
|
--BUSINESS
SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
1 |
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--LIQUIDITY |
1~10 |
- |
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--LEVERAGE |
1~10 |
- |
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--RESERVES |
1~10 |
- |
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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 |
|
--EXPORT
ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
NO |
|
TOTAL |
|
10 |
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
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 |