MIRA
INFORM REPORT
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Report Date : |
20.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
VISHAL INTERNATIONAL |
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Registered Office : |
2683, Gali No. 1, Beadon Pura, Karol Bagh, New Delhi
–110005 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Year of Establishment : |
1985 |
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IEC No.: |
0596009534 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELV00102E |
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PAN No.: |
AAGFV0166J |
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Legal Form : |
Partnership concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturer and Exporter of Handicraft Items. |
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 10000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Management partied partial details but denied financial details. Hence this report is based on indirect sources of information. Subject is a small manufacturer and exporter of handicraft and increase sticks (agarbatties) Now, it is a partnership concern. Trade relations are fair. Payments are reported as slow but correct. The concern can be considered for small to mediocre business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Dhiraj |
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Designation : |
Partner |
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Contact No.: |
91-9891176573 |
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Date : |
14.08.2008 |
LOCATIONS
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Registered Office : |
2683, Gali No. 1, Beadon Pura, Karol Bagh, New Delhi
–110005 |
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Tel. No.: |
91-11-28753715 |
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Mobile No.: |
91-9891176573 / 9811211041 |
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Fax No.: |
91-11-41544997 |
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E-Mail : |
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Website : |
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Area : |
1800 sq. fts. |
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Location : |
Owned [Prime Commercial] |
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Factory : |
Near Railway Crossing, Delhi, India |
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Area : |
1800 sq ft |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Madan Lal |
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Designation : |
Partner |
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Date of Birth/Age : |
59 years |
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Qualification : |
Graduate |
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Mobile : |
91-9811211041 |
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Experience : |
More than 30 Years |
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Name : |
Mr. Prakash Kiran Dhiraj |
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Designation : |
Partner |
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Date of Birth/Age : |
31 years |
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Qualification : |
Graduate |
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Experience : |
8 Years |
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Name : |
Mr. Surya Kiran Dhiraj |
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Designation : |
Partner |
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Date of Birth/Age : |
27 years |
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Qualification : |
Graduate |
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Experience : |
4 Years |
KEY EXECUTIVES
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Name : |
Mr. Dhiraj |
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Designation : |
Partner |
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Mobile : |
91-9891176573 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Handicraft Items. |
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Products : |
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Exports : |
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Product : |
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Countries : |
U.K., U.S., Canada, West Indies, Mauritius and South Africa |
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Terms : |
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Selling : |
D/P and Advance Payment |
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Purchasing : |
Cash or Credit [60 days] |
GENERAL
INFORMATION
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Customers : |
Wholesalers and Importers |
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No. of Employees : |
40 (20 In Office and 20 In factory) |
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Bankers : |
Syndicate Bank East Patel Nagar, New Delhi |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. J. L. Grower Chartered Accountant |
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Memberships : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.000 millions |
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Borrowed : |
-- |
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Total : |
Rs. 2.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
20.000 |
22.500 |
20.020 |
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance
Chart
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Existence Verification |
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Name |
VISHAL INTERNATIONAL |
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Statutory Approvals |
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Income Tax Registration |
AAGFV0166J |
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Import Export Code |
0596009534 |
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Name of Bank |
Syndicate Bank |
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Credibility Factors |
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Years of Establishment |
1986 |
Trade Reference :
Ř
Beta Price Discount World
Ř
Regent Distributors
Website Details Attached:
Profile
Established in the year 1985, subject has nearly two decades of experience in
manufacturing, exporting and supplying of marble statues, brass statues, religious
murtis, puja items, brassware, sandalwood items, rosewood items and polystone
statues from India. Located in Delhi, the company has achieved phenomenal
success in it's sphere of activity. The success owes to the quality and variety
of it's religious and other items.
Subject holds the membership of Export Promotion Council for Handicrafts (EPCH)
and India Trade Promotion Organization (ITPO). The company has won the
prestigious "International Business Award."
Quality
From the very beginning they have laid stress on providing quality products
like marble statues and brass statues at competitive prices from India.
Besides, timely delivery has also been a priority of theirs. Totally an export
oriented organization, the company strives to match the international quality
standards. All it's quality-related matters are guided by the quality policies.
The policies have been devised by the company in congruity with international
standards.
Infrastructure
They have some of the most skilled artisans and iconographers at their command.
The individuals are they also incorporated the machinery into their work system
for time and cost efficiency.
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 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.42.23 |
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UK Pound |
1 |
Rs.80.89 |
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Euro |
1 |
Rs.63.80 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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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38 |
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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