MIRA
INFORM REPORT
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Report Date : |
28.08.2008 |
IDENTIFICATION
DETAILS
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Correct Name : |
GLOBE MOVING AND STORAGE COMPANY PRIVATE LIMITED |
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Formerly Known As : |
Globe Packers - Bangalore |
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Registered Office : |
Tejus , 8/137 80 Feet Road, Michaelpalya Indiranagar, Bangalore – 560
038, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
18.02.2002 |
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Com. Reg. No.: |
08-30097 |
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CIN No.: [Company
Identification No.] |
U63023KA2002PTC030097 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRG02570B |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Providing Packers and Movers services. |
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 : |
46000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established company having satisfactory track records.
The company has steady business. Trade relations are fair. Financial position
is satisfactory. Payments are usually correct and as per commitments Nothing adverse reported. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Ms. Devi |
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Designation : |
Accountants |
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Date : |
19.08.2008 |
LOCATIONS
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Registered Office : |
Tejus , 8/137 80 Feet Road, Michaelpalya Indiranagar, Bangalore – 560 038,
Karnataka, India |
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E-Mail : |
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Corporate Office : |
No. 3360, 8th Cross, 13th Main Hal IInd
Stage, Bangalore – 560 008, Karnataka, India |
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Tel. No.: |
91-80-25273232 |
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Fax No.: |
91-22-25299177 |
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E-Mail : |
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Location: |
Rented |
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Head Office : |
No. 853/A, 5th Main, 5th Main Cross,
Indiranagar 1st Stage, Bangalore 560038. India |
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Tel. No.: |
91-80-25273232 / 25283305 / 25297790 |
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Fax No.: |
91-80-25299177 |
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E-Mail : |
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Website : |
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Branch: |
No. 23, 7th Cross Street, 1st Floor, Shenoy
Nagar, Chennai – 560 030, Tamil Nadu, India |
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Tel No.: |
91-44-65493030 |
DIRECTORS
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Name : |
Mr. S Ramachandran |
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Designation : |
Director |
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Address : |
8/137 80 Feet Road, Michaelpalya Indiranagar, Bangalore – 560 038,
Karnataka, India |
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Date of Birth/Age : |
03.05.1941 |
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Date of Appointment : |
18.02.2002 |
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Name : |
Mrs. Usha Ramachandran |
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Designation : |
Director |
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Address : |
No. 8/137 80 Feet Road, Michaelpalya Indiranagar, Bangalore – 560 075,
Karnataka, India |
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Date of Birth/Age : |
28.04.1949 |
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Date of Appointment : |
18.02.2002 |
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Name : |
Mr. Arun Shiva |
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Designation : |
Director |
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Address : |
No. 8/137 80 Feet Road, Michaelpalya Indiranagar, Bangalore – 560 075,
Karnataka, India |
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Date of Birth/Age : |
17.12.1972 |
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Date of Appointment : |
18.02.2002 |
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Name : |
Mr. Ajit Venkatesh |
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Designation : |
Director |
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Address : |
No. 8/137 80 Feet Road, Michaelpalya Indiranagar, Bangalore – 560 075,
Karnataka, India |
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Date of Birth/Age : |
29.04.1975 |
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Date of Appointment : |
18.02.2002 |
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Name : |
Mrs. Roopa Venkatesh |
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Designation : |
Director |
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Address : |
No. 8/137 80 Feet Road, Michaelpalya Indiranagar, Bangalore – 560 075,
Karnataka, India |
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Date of Birth/Age : |
05.03.1977 |
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Date of Appointment : |
18.02.2002 |
KEY EXECUTIVES
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Name : |
M. C. Bhansali |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 31.03.2006
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Names of Shareholders |
No. of Shares |
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Mr. S Ramachandran |
36796 |
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Mrs. Usha Ramachandran |
1454 |
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Mr. Arun Shiva |
250 |
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Mr. Ajit Venkatesh |
500 |
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Mrs. Roopa Venkatesh |
250 |
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Others |
1450 |
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Total |
40700 |
Equity Share Breakup (Percentage of Total Equity):-
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Category (As on 31.03.2006) |
Percentage |
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Directors or relative of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing Packers and Movers services. |
GENERAL
INFORMATION
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No. of Employees : |
50 |
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Bankers : |
· Oriental Bank of Commerce, Indiranagar · HSBC Bank , MG Marg |
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Banking
Relations : |
----- |
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Auditors : |
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Name : |
R S Prabhu and Company Chartered Accountants |
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Address : |
2 and 3, 2nd Floor Siddaganga Building, B V K Iyengar Road,
Bangalore – 560 053, Karnataka, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
(As on
30.09.2006):-
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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40700 |
Equity Shares |
Rs. 100/- each |
Rs. 4.070
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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4.070 |
4.070 |
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2] Share Application Money |
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(0.652) |
(0.742) |
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3] Reserves & Surplus |
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5.034 |
3.876 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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8.452 |
7.204 |
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LOAN FUNDS |
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1] Secured Loans |
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0.796 |
0.989 |
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2] Unsecured Loans |
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0.786 |
0.796 |
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TOTAL BORROWING |
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1.582 |
1.785 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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10.034 |
8.989 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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5.056 |
5.294 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.176 |
0.108 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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2.729 |
2.815 |
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Cash & Bank Balances |
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0.154 |
0.341 |
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Other Current Assets |
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2.495 |
1.825 |
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Loans & Advances |
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0.405 |
0.681 |
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Total
Current Assets |
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5.783 |
5.662 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.958 |
2.054 |
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Provisions |
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0.142 |
0.160 |
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Total
Current Liabilities |
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1.100 |
2.214 |
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Net Current Assets |
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4.683 |
3.448 |
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MISCELLANEOUS EXPENSES |
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0.119 |
0.139 |
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TOTAL |
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10.034 |
8.989 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 (Estimated) |
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Sales Turnover |
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15.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.32 |
0.56 |
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Current Ratio (Current Asset/Current Liability) |
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5.26 |
2.56 |
LOCAL AGENCY
FURTHER INFORMATION
NOTES:-
The company registered office was shifted from No. 853/A, 5th
Cross, 5th Main, Indiranagar I Stage, Bangalore – 560 038 Karnataka,
India to present registered address w.e.f 04.08.2008
TRADE REFERENCES:-
· Micro Bosh
· Britania
· and many more IT companies
WEBSITE DETAILS:-
HISTORY
The company was formerly known as Globe Packers - Bangalore. After years
of dedicated service in the packing and moving industry a new company was
formed to inculcate and widen the scope of activities. Today with over 30 years
of experience, subject as the epitome of quality services in the moving
industry. They take pride in offering customer oriented solutions for moving of
Households, Offices, Machinery, Fine Arts and more.
To back them up, they have a dedicated team of customer friendly office
staff, trained and experienced moving crew, offices across the country, fleet
of vehicles, self owned warehouses and reputed associates across the globe.
Their high service standards and commitment to quality, has earned them
membership in International Associations like British Association of Removers
(BAR), American Moving and Storage Association (AMSA), Household Goods
Forwarders Association of America (HHGFAA) and Employee Relocation Council
(ERC).
Their family of customers includes some of the most important worldwide
Corporate Houses, Consulates, Embassies, World Organizations, Government
undertakings and Private clients to name just a few. They are proud that their
clients choose them not only because of their competitive rates but because of
the critical assistance they provide in ensuring a smooth move all the way.
Mission Statement
Their mission is to provide the finest quality of moving services by
keeping abreast the changing needs, anticipating exacting demands and using men,
material and machines effectively to make moving a pleasant experience for all
their customers.,
On behalf of the company I would like to thank all their esteemed
clients and associates around the world, who have contributed to the phenomenal
growth and development of the company.
Having been associated with the moving industry for the last 25 years, I have
seen vast change in its metamorphosis to its present stage. There were times
when packing and moving was considered a tedious task - But not any more.
At the company with their years of experience, product research, quality
evaluation, training, coupled with customer-oriented services, they have been
able to do away with all such anxiety. With just one phone call they can pack
and move Personal effects, Offices, Machinery, Fine arts, Pets and just about
anything to any part of the world. If the need is vice versa, they can even
pack and move goods from most countries in the world to India on a door to door
basis.
Today, their services go beyond just delivery. Now, they even provide
relocation services like ticketing for National and International travel,
Arranging Hotel Accommodation, Real estate, Home search programs, School search
programs and many other programs specifically designed to make the relocation a
smooth one.
Quality Assurance
At the company they guarantee the highest quality and professionalism in
all their services. Their commitment to quality has been recognised in the international
moving scenario and has even earned them membership into International
associations like The British Association of Removers (BAR), American Moving
and Storage Association (AMSA), Household Goods Forwarders Association of
America (HHGFAA) and Employee Relocation Council (ERC).
These prestigious memberships help them partner with the best agents
around the world. They also help them in keeping abreast with the latest
technological developments in the moving industry.
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
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Indian Rupees |
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US Dollar |
1 |
Rs.43.73 |
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UK Pound |
1 |
Rs.80.57 |
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Euro |
1 |
Rs.64.29 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
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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46 |
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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