MIRA
INFORM REPORT
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Report Date : |
05.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
SALTOURS INTERNATIONAL |
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Registered Office : |
Gundecha Onclave, 1B1, 1st Floor, B Wing, Kherani Road, Sakinaka,
Andheri (East), Mumbai – 400 072, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Year of Establishment : |
1997 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Tours and Travels |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established concern having moderate track
records. The management parted general details but declined to part with
financials. No complaints have been heard. The concern can be considered for small to mediocre business dealings.
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INFORMATION PARTED
BY
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Name : |
Mr. Purshotam |
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Designation : |
Accounts Department |
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Date : |
01.12.2008 |
LOCATIONS
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Registered Office : |
Gundecha Onclave, 1B1, 1st Floor, B Wing, Kherani Road, Sakinaka,
Andheri (East), Mumbai – 400 072, Maharashtra, India |
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Tel. No.: |
91-22-66963555 / 65888888 |
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Fax No.: |
91-22-67204880 / 67204990 |
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E-Mail : |
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Website : |
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Area : |
1000 Sq. ft. |
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Location : |
Owned |
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Branches : |
Located at ·
Ahmedabad ·
Bangalore ·
Pune ·
Chennai |
SOLE PROPRIETOR
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Name : |
Mr. Sunil Kumar |
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Designation : |
Proprietor |
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Date of Birth/Age : |
42 Years |
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Qualification : |
B.Com |
KEY EXECUTIVES
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Name : |
Rajesh Nambiar |
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Designation : |
Vice President |
BUSINESS DETAILS
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Line of Business : |
Tours and Travels |
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Terms : |
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Selling : |
Contract |
GENERAL
INFORMATION
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Customers : |
Travel Agent |
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No. of Employees : |
125 |
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Bankers : |
Standard Chartered Bank Address : 90, M G Road
Branch, Mumbai, Maharashtra, India |
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Banking
Relations : |
- |
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Auditors : |
Not Divulged |
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Associates/Subsidiaries : |
Saltours
International Private Limited Address : Gundecha
Onclave, 1B1, 1st Floor, B Wing, Kherani Road, Sakinaka, Andheri
(East), Mumbai – 400 072, Maharashtra, India CIN No.:
U63040MH1998PTC115835 Registration
Number : 115835 Date of
Incorporation : 17.07.1998 Authorised
Capital : Rs.5.000 millions Paid up Capital
:
Rs.0.100 million |
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CAPITAL STRUCTURE
(As on 31.03.2005)
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Capital Investment : |
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Owned : |
Rs.1.000 Million |
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Borrowed : |
-- |
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Total : |
Rs.1.000 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2005 |
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Sales Turnover |
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15.000 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
·
Travel Agents
Web Details
Profile
Subject is presently one of the trendsetters in the Wholesale FIT Hotels
and Tour Specialist market. The company has grown from a single office start up
in Mumbai - 1997 to its present stature of market leader with an extensive
network in India. Subject has achieved and consolidated this position through
its wide range of products – the result of concentrated and continued product
development serviced through professionally trained staff and promoted and
backed by the marketing staff at all offices. The introduction of
www.saltoursonline.com, the web-based online reservations system for travel
agents worldwide has revolutionized the FIT wholesale trade. The Company has
adopted various innovative approaches towards the market and has come out
extremely successful.
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] 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.49.79 |
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UK Pound |
1 |
Rs.73.37 |
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Euro |
1 |
Rs.63.08 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
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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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28 |
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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