MIRA
INFORM REPORT
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Report Date : |
01.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
GREEN EARTH INTERNATIONAL |
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Registered Office : |
32, Armenian Street, 1st Floor, Kolkata – 700001, West
Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2005 |
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PAN No.: [Permanent
Account No.] |
AE00PK1410K |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Jutes and Cotton Bags. |
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 8500 |
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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 meeting its normal
commitments |
INFORMATION PARTED
BY
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Name : |
Mr. Manish Kajaria |
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Designation : |
Proprietor |
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Date : |
31.07.2008 |
LOCATIONS
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Registered Office : |
32, Armenian Street, 1st Floor, Kolkata – 700001, West
Bengal, India |
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Tel. No.: |
91-33-25552865 / 22725935 |
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Mobile No.: |
91-9830026178 |
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Fax No.: |
91-33-25552865 / 25832622 |
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E-Mail : |
jutebag@vsnl.com |
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Website : |
www.baghunt.com |
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Area : |
700 sq ft |
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Location : |
Owned |
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Factory : |
104, Nagendranath Mukherjee Road, Agartala, North 24 Parganas |
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Area : |
7000 sq fts. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Manish Kajaria |
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Designation : |
Proprietor |
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Date of Birth/Age : |
49 years |
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Qualification : |
Post Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Jutes and Cotton Bags. |
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Exports : |
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Products : |
Jutes and Cotton Bags |
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Countries : |
US, Spain, Europe Countries, USA and Japan |
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Terms : |
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Selling : |
L/C, Advance 30% and Balance 70% |
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Purchasing : |
Cash / Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
85 (Office-15 and Factory-70) |
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Bankers : |
Union Bank of India, Bada Bazar |
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Facilities : |
Rs. 7.000 Millions |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.700 Millions |
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Borrowed : |
0.000 |
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Total : |
Rs. 1.700 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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34.000 |
Expected Sales (2008-09) : Rs. 40.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance
Chart
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Existence Verification |
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Name |
GREEN EARTH INTERNATIONAL |
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Statutory Approvals |
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Income Tax Registration |
AEOOPK1410K |
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VAT/ TIN Registration |
14521251068 |
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Import Export Code |
0205012043 |
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Name of Bank |
Union Bank of India |
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Current Account Number |
10136088 |
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Account Since |
2005 |
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Credibility Factors |
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IndiaMART Client Since |
1 Year |
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Years of Establishment |
2005 |
Trade References:-
v
Nether Wallpaper, UK
v
Portico
v
Shop Bag World, Isaland
Profile:-
Subject is one of the
leading manufacturers and exporters of jute bags in India. Driven by the goal
of protecting the environment and conserving nature and mankind, the concern
offers superlative quality of the jute products meant to serve diverse needs.
The concern strives to create works of art that are true to nature, maintaining
the aesthetic and functional value.
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.42.49 |
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UK Pound |
1 |
Rs.84.21 |
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Euro |
1 |
Rs.66.33 |
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 |
YES |
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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 |
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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