MIRA
INFORM REPORT
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Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
JAIN FAB |
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Registered Office : |
I-32, Central Market, Lajpat Nagar, Part – II, New Delhi – 110 024 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2000 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELJ05746G |
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PAN No.: [Permanent
Account No.] |
AACFJ5997K |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Hand Woven Silk, Silk for Home
Furnishings. |
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 15000 |
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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 meetings its
normal commitments timeously. Trade relations are fair. Business is active. The concern can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Rajiv Jain |
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Designation : |
Proprietor |
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Date : |
08.08.2008 |
LOCATIONS
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Registered Office / Factory : |
I-32, Central Market, Lajpat Nagar, Part – II, New Delhi – 110 024,
India |
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Tel. No.: |
91-11-29813860 / 29814177 |
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Mobile No.: |
91-9312000213 (Mr. Rajiv Jain) |
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Fax No.: |
91-11-29813860 / 29814177 |
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E-Mail : |
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Area : |
600 Sq.fts |
SOLE PROPRIETOR
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Name : |
Mr. Rajiv Jain |
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Designation : |
Proprietor |
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Date of Birth/Age : |
36 years |
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Qualification : |
CA |
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Experience : |
11 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Hand Woven Silk, Silk for Home
Furnishings. |
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Products : |
· Hand Woven Silk · Silk for Home Furnishings Including: o
Tussar o
Monga o
Brocade o
Jamawar o
Raw Silk o
Matka · Linen – Silk Fabric, etc |
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Exports : |
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Products : |
Hand Woven Silk, Silk for Home Furnishings, Linen – Silk Fabric, etc |
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Countries : |
All over the World |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS
Capacity to increase production by 50%
GENERAL
INFORMATION
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Suppliers : |
Own Manufacturing |
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No. of Employees : |
6 |
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Bankers : |
· Punjab National Bank, South Ex, New Delhi-110 001, India · Citi Bank , C. Place, New Delhi – 110 001, India |
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. |
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Banking
Relations : |
Satisfactory |
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Memberships : |
IPCL |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 3.000 millions |
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Borrowed : |
---- |
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Total : |
Rs. 3.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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20.000 |
18.000 |
Expected Sales (2008-09): Rs. 30.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:-
Concern Profile
The importance of silk and silk fabrics in India is something that cannot be ignored at all. Women with a virtual habit of looking elegant look their best in a silk saree. The use of silk is not just restricted to personal wardrobe, but also extends to the interiors of a house or office. Subject was established in the year 2000, is a classic example of blending a contemporary and traditional range of silk and allied fabrics.
They are a reputed manufacturer,
supplier and trader of a wide range of Hand Woven Silk, Silk for Home Furnishings including Tussar, Monga,
Brocade, Jamawar, Raw Silk and Matka, Linen-Silk Fabric, etc.
Their bright and effervescent range of silk fabrics are an eye candy for those
who look for resplendence and novelty in their personality, as well as in the
look of their homes. They focus primarily on understanding the needs of their
customers and creating products as per their needs and expectations.
Their three main virtues, viz., unsurpassed quality,
competitive prices, and on-time execution of orders have been conducive in
taking them to the topmost position within a short span of time. Their products
have earned accolades all over the world, and their client list comprises of
some of the most prominent names in the industry.
Product Offering
As a trademark manufacturer, supplier and trader, the
concern offers the following range of products:
·
Hand Woven Silk
·
Silk for Home Furnishings including:
o Tussar
o Monga
o Brocade
o Jamawar
o Raw
Silk
o Matka
·
Linen-Silk Fabric, etc.
Quality Assurance
Remaining true to its mission of providing only quality products, which are
free of all forms of defects, has enabled the concern to be known as the
foremost business house in the entire nation. Their quality programme is
initiated right from the stage of raw material procurement like raw silk, etc.
and goes on till their processing and final dispatch of the finished products.
They make it a point to take the feedback from their
customers regarding the quality of products and services, and based in their
comments, they try and improve on their products and policies as much as
possible. Their team of quality control personnel keeps a close tab on the
entire process, thereby, facilitating the movement of only the best products to
the market.
Key Strengths
They are on their way to rule the fashion world due to the
following reasons:
·
Innovative designs and style, setting a trend in the
market
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State-of-the-art production unit built on the latest
technology
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A wide range of cutting edge machines to fabricate
products in accordance with customers' expectations
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Team of highly creative and pro-active designers to
create heart rendering designs
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Regular upgradation of the machines to avoid their wear
and tear
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In-house checking facility equipped with latest testing
equipments, where every product is thoroughly monitored
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A well thought research on the emerging trends in the
market and incorporating them accordingly.
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.42.82 |
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UK Pound |
1 |
Rs.80.01 |
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Euro |
1 |
Rs.63.83 |
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 |
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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