1. Summary Information

Company Name

R R TRADING COMPANY

Principal Name 1

Mr. Rattan Lal

Status

Small concern

Principal Name 2

Mr. Atul Bindal

Street Address

414, Somdutt Chamber, 2nd Bhikaji Kama Place, New Delhi – 110 016, India.

Established Date

1992

SIC Code

--

Telephone#

91-11-26510999

Business Style 1

Trader

Fax #

91-11-26866386

Business Style 2

-

Homepage

http://www.ashton-india.com

Product Name 1

-

# of employees

10

Product Name 2

-

Paid up capital

-

Product Name 3

-

Shareholders

-

Banking

IDBI Bank

Canara Bank

Public Limited Corp.

NO

Business Period

16 years

IPO

NO

International Ins.

-

Public Enterprise

NO

Rating

B

Related Company

Relation – Associates

Country

Company Name

Ashton International Private Limited

Note

-

 

2. Summary Financial Statement

Balance Sheet as of

-

(Unit: Indian Rs.)

Assets

Liabilities

Current Assets

-

Current Liabilities

-

Inventories

-

Long-term Liabilities

-

Fixed Assets

-

Other Liabilities

-

Deferred Assets

-

Total Liabilities

-

Invest& other Assets

-

Retained Earnings

-

 

 

Net Worth

-

Total Assets

-

Total Liab. & Equity

-

 Total Assets

(Previous Year)

-

 

 

P/L Statement as of

31.03.2008

 

Sales

30000000

Net Profit

-

Sales(Previous yr)

-

Net Profit(Prev.yr)

-

 

 

MIRA INFORM REPORT

 

 

 

Report Date :

19.12.2008

 

IDENTIFICATION DETAILS

 

Name :

R R TRADING COMPANY

 

 

Registered Office :

414, Somdutt Chamber, 2nd Bhikaji Kama Place, New Delhi – 110 016

 

 

Country :

India

 

 

Financials (as on) :

31.03.2008 (Estimated)

 

 

Year of Establishment :

1992

 

 

IEC No.:

0594058848

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELR11554E

 

 

PAN No.:

[Permanent Account No.]

AAEFR1072K

 

 

Legal Form :

Partnership concern with an unlimited liability of the partners.

 

 

Line of Business :

Trader of Coated Man-Made Fabric, Woollen Card Clothing “ABCC”, Wooden Lags with PIN, S.S. Dye and Spring and Importer of P. U. Synthetic Leather, Copper Foil and Thermo Couple.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 5600

 

 

Status :

Small concern

 

 

Payment Behaviour :

Slow by average 30 days

 

 

Litigation :

Clear

 

 

Comments :

Subject report is based on an interview with Mr. Kewal Joshi of the concern. Subject is a small concern in it’s field. 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

 

Name :

Mr. Rattan Lal

Designation :

Partner

Contact No.:

91-9871440762

Date :

18.12.2008

 

LOCATIONS

 

Registered Office :

414, Somdutt Chamber, 2nd Bhikaji Kama Place, New Delhi – 110 016, India.

Tel. No.:

91-11-26510999

Fax No.:

91-11-26866386

Mobile No.:

91-9871440762 (Mr. Rattan Lal)

E-Mail :

contact@ashton-india.com

Area :

500 sq.ft.

Location :

Owned

 

 

Factory :

D-29, Basement, Hauz Khas, New Delhi-110016, India

Tel. No.:

91-11-26855864 / 26563721

Website :

http://www.ashton-india.com

 

PARTNERS

 

Name :

Mr. Rattan Lal [H.U.F.]

Designation :

Partner

Address :

C-1/6, S. D. A., New Delhi-110016, India

Date of Birth/Age :

81 years

Qualification :

Graduate

Experience :

52 years

 

 

Name :

Mr. Atul Bindal [H.U.F.]

Designation :

Partner

Address :

C-1/6, S. D. A., New Delhi-110016, India

Date of Birth/Age :

48 years

Qualification :

Graduate

Experience :

24 years

 

 

Name :

Mrs. Sunita Bindal

Designation :

Partner

Address :

C-1/6, S. D. A., New Delhi-110016, India

Date of Birth/Age :

45 years

Qualification :

Graduate

Experience :

19 years

 

BUSINESS DETAILS

 

Line of Business :

Trader of Coated Man-Made Fabric, Woollen Card Clothing “ABCC”, Wooden Lags with PIN, S.S. Dye and Spring and Importer of P. U. Synthetic Leather, Copper Foil and Thermo Couple.

 

 

Agencies Held :

Ø       Daewod International Corporation, Korea

Ø       Schelling S. R. L., Fabrica, Italy

Ø       Lianing Light Industrial Products, China

Ø       Dalian Jinggang Group Importer and Exporter, China

Ø       Orkli s. Corp., Spain

Ø       Indian Dye Spring Company, Thane

Ø       Mayur Unicotos’s Limited, Jaipur

Ø       AB Card Clothing Company, Gurgaon

 

 

Imports :

 

Product :
  • PU Synthetic Leather,
  • Cylinder Fillet and Doffer Fillet,
  • Copper Foil and Thermo Couple

Countries :
  • Korea,
  • Italy,
  • China
  • Spain

 

 

Terms :

 

Selling :

Credit (60 days) terms

 

 

Purchasing :

Credit (30/60 days) terms or advance

 

GENERAL INFORMATION

 

Customers :
  • Wholesalers,
  • Retailers
  • End Users

 

 

No. of Employees :

10

 

 

Bankers :

Ø       IDBI Bank, Nehru Place, New Delhi-110019, India

Ø       Canara Bank, Hauz Khas, New Delhi-110016, India

Ø       Syndicate Bank, Kaushlya Park, Hauz Khas, New Delhi-110016, India

 

 

Facilities :

Subject do not enjoy any facility from its bankers

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Ajay Aggarwal and Company

Chartered Accountants

Address :

1/42, Lalita Park, Laxmi Nagar, Vikas Marg, Delhi-110092, India

Tel. No.:

91-11-22425850/22011764

Fax No.:

91-11-22425850

 

 

Associates/Subsidiaries :

Ø       Ashton International Private Limited, C-1/6, S. D. A., New Delhi-110016, India

-- Exporter, Manufacturer and Traders of Textile Machinery Parts.

 

Ø       Orco Enterprises, D-29, Basement, Hauz Khas, New Delhi-110016, India

-- Manufacturers of Textile Machinery Parts

 

Ø       Ashton Transmission Company, D-29, Basement, Hauz Khas, New Delhi-110016, India

-- Manufacturer of Tapes and Conveyors

 

Ø       AB Card Clothing Private Limited, Bajghera Road, Village Sarai Alawardi, P O palam vihar, Gurgaon-122001, Haryana, India

-- Manufacturer of Card Clothing

 

Ø       Asian Enterprises, G-57, 1st Floor, Sector-6, Noida, Uttar Pradesh, India

             -- Manufacturers of P. U. Tube, P. U. round Belts and P. U. Coils, etc.

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Rs.1.400 millions

Borrowed :

--

Total :

Rs.1.400 millions

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

 

31.03.2008

Sales Turnover

 

 

30.000

 

Expected Sales (2008-09) : Rs. 30.000 Millions

 

LOCAL AGENCY FURTHER INFORMATION

 

Notes:

 

Subject is temporarily shifted to a new address and shall within December 2007 shift permanently to the address -

 

414, Somdutt Chamber, 2nd Bhikaji Kama Place, New Delhi

 

 

It is in trade terms with:

 

Ø       Ashton Transmission Company, Noida

Ø       Uni Fab Industries, Sonepat

Ø       Lohia Star linger Limited, Kanpur

Ø       Sahib Synthetics, Ludhiana

Ø       Cownpore Woollen Mills, Kanpur

 

 

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.47.28

UK Pound

1

Rs.73.43

Euro

1

Rs.68.22

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

1~10

2

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

2

--CREDIT LINES

1~10

3

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

26

 

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

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions