MIRA
INFORM REPORT
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Report Date : |
16.12.2008 |
IDENTIFICATION DETAILS
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Correct Name : |
R B SETH SHREERAM
NARASINGDAS |
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Registered Office : |
Sankalpuram Iron Ore
Mines, Karinganur, Bellary Road, P O 38, Karnataka – 583 201, India |
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Country : |
India |
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Financials (as on) : |
Not Available |
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Date of Incorporation : |
Reported to be in
business line about 10/15 years |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRP05385C |
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PAN No.: [Permanent
Account No.] |
AACFR0227N |
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Legal Form : |
Sole Proprietory
Concern |
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Line of Business : |
Trader of General
Commodities |
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 : |
Undetermined |
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Comments : |
Management of the
concern remained non-cooperative during current investigation, despite of
several approaches. In absence of require business and performance details,
it would be advisable to deal with the concern on fully safe and secured
trade terms and conditions. Mr. Prakash,
Accountant and top leval management denied business and financials details
during our several attempts. |
INFORMATION
DECLINED BY
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Name : |
Mr. Prakash |
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Designation : |
Accountant |
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Date : |
15.12.2008 |
LOCATIONS
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Registered Office : |
Sankalpuram Iron
Ore Mines, Karinganur, Bellary Road, P O 38, Karnataka – 583 201, India |
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Tel. No.: |
91-08394-266011 |
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Mobile No.: |
91-9900558012
(Mr. Prakash) |
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E-Mail : |
SOLE PROPRIETOR
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Name : |
Mr. Ajay Saraf |
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Designation : |
Sole Proprietor |
KEY EXECUTIVES
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Name : |
Mr. Sita Ramaiya |
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Designation : |
Manager |
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Name : |
Mr. Prakash |
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Designation : |
Accountant |
BUSINESS DETAILS
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Line of Business : |
Trader of General
Commodities |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
Not Available |
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Auditors : |
Not Available |
CAPITAL STRUCTURE
Not Available
FINANCIAL DATA
[all figures are in Rupees Millions]
Not Available
LOCAL AGENCY
FURTHER INFORMATION
Nil
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.47.94 |
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UK Pound |
1 |
Rs.72.07 |
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Euro |
1 |
Rs.64.70 |
SCORE & 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/normal. |
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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