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MIRA
INFORM REPORT
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Report Date : |
06.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
NEXT SOURCING SERVICES (INDIA) PRIVATE LIMITED |
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Registered Office : |
5TH Floor, Tower A, Diamond District, Kodihally Village,
Airport Road, Bangalore – 560 017, Karnataka |
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Country : |
India |
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Date of Incorporation : |
26.09.2006 |
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Com. Reg. No.: |
40625 |
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CIN No.: [Company
Identification No.] |
U18105KA2006PTC040625 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Natural Fibre, Leather Goods of Synthetic
Fibre. |
RATING &
COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Mr. Ajaykumar of the company assured to provide and Up-date the
details but never did so far. Subject is a new company and has yet to establish track. No payment records are available. Initially, it should be considered on fully safe and secured trade
terms and conditions, only. |
INFORMATION
DECLINED BY
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Name : |
Mr. Ajaykumar |
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Date : |
05.08.2008 |
LOCATIONS
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Registered Office : |
5TH Floor, Tower A, Diamond District, Kodihally Village, Airport
Road, Bangalore – 560 017, Karnataka |
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E-Mail : |
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Website : |
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Factory : |
16/F, Building No. 9-A, DLF Cyber City, DLF Phase – III, Gurgaon –
122002, Haryana, India |
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Mobile No.: |
91-9818977722 |
DIRECTORS
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Name : |
Mr. Ralph Chirayath Robert |
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Designation : |
Director |
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Address : |
No. 5, Ahmed Sait Road, Fraser Town, Bangalore – 560 005 |
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Date of Birth/Age : |
04.03.1974 |
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Other Directorship: |
Team8 Solutions Private Limited U72200KA2006PTC038122 |
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Name : |
Mr. Boban Devasia John |
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Designation : |
Director |
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Address : |
No. 187, Masathettu House, III Cross, Lakshmi Tent Road,
Ramamurthynagar, Bangalore – 560 016, Karnataka, India |
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Date of Birth/Age : |
04.12.1973 |
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Other Directorship: |
Team8 Solutions Private Limited U72200KA2006PTC038122 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 22.09.2006
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Names of Shareholders |
No. of Shares |
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Mr. Ralph Chirayath Robert |
5000 |
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Mr. Boban Devasia John |
5000 |
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Total |
10000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Natural Fibre, Leather Goods of Synthetic
Fibre. |
GENERAL
INFORMATION
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Bankers : |
Not Available |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Not Available |
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Other Directorship: |
Team8 Solutions Private Limited U72200KA2006PTC038122 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1,00,000 |
Equity shares |
Rs. 10/- each |
Rs. 1.000 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,000 |
Equity shares |
Rs. 10/- each |
Rs. 0.100
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
As the subject is a new company, no financials are available.
LOCAL AGENCY
FURTHER INFORMATION
As Per Website
Details
Although they are a relatively young business organization the management has wide and extensive experience in the key areas of garment production and trading in Bangladesh, specifically in knitted production, light knit items and sweater products. Presently they have regular customers in Europe, particularly in Denmark and Finland. In 2006 they handled orders worth of US $ 25 Million.
Mission
Subject offers a complete set of services for reliable production of high quality knitted items.
With the highly experienced staff they are able to provide you an outstanding assistance in sourcing the reliable factories with competitive pricing, high quality products with quality controlled by us and reliable delivery times. This will ensure the profit you have calculated from the Bangladesh orders.
Services
# Factory Selection : They will select the most reliable and competitive factory production.
# Prices Quotations : Price competition for the orders will always be arranged.
# Sampling : They are able to arrange samples by the own sample department or by using the factory sampling.
# Styling / Design : They have the own designers who are working continuously with the customer’s inquires. This enables us to identify any possible problems involved in design or manufacturing and consult the customers before starting production.
# Banking support : Since they have all legal permission to do business in this country , they can accept LCs from abroad and can transfer to selected factories.
# Quality control : Through the Quality Assurance Team They carry out continuous quality control during production as well as final inspection for the shipment approval.
# Communication : The top rated task is to maintain active and regular communication with the customers about the progress of the production, quality questions, estimated shipment time and other relevant issues during the production.
# Compliances : They follow the social standards and working conditions in factories and recommend only those who comply with the social accountability laws in Bangladesh.
# In 2006 they had turnover of Twenty Five Million U.S. Dollars.
# They have a Strong manufacturing database
Recent Picture
Example
Poll
Random
Affiliate
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 :
The 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.
The 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. 42.00 |
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UK Pound |
1 |
Rs. 82.14 |
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Euro |
1 |
Rs. 65.09 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
1 |
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OPERATING SCALE |
1~10 |
1 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
1 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
1 |
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--LEVERAGE |
1~10 |
1 |
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--RESERVES |
1~10 |
-- |
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--CREDIT LINES |
1~10 |
1 |
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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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08 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
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