MIRA
INFORM REPORT
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Report Date : |
26.12.2008 |
IDENTIFICATION DETAILS
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Name : |
FEDMAC EXPORTS PRIVATE LIMITED |
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Registered Office : |
No.1, Thennampalayam, Tirupur – 641 604, Tamilnadu |
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Country : |
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Date of Incorporation : |
01.04.2008 |
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Com. Reg. No.: |
014349 |
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CIN No.: [Company
Identification No.] |
U18101TZ2008PTC014349 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CMBF03329E |
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PAN No.: [Permanent
Account No.] |
AABCF2138A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Garments. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and in the process of establishing itself.
Trade relations are fair. No further details could be made available. The company can be considered for business on safe and secured terms
only. |
INFORMATION DECLINED BY
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Name : |
Mr. Peter |
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Designation : |
Export Department |
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Date : |
24.12.2008 |
LOCATIONS
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Registered Office/ Factory : |
1, Thennampalayam, Tirupur – 641 604, |
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Tel. No.: |
91-421-2210227/ 2211582/ 2213880 |
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Fax No.: |
91-421-2213883 |
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E-Mail : |
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Website : |
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Overseas Office : |
email: dave@fedmaccorp.com
PH : 336-887-6389 FAX : 336-887-0908
email: patrick@fedmaccorp.com PH : 0033147121043 FAX : 0033146840424 |
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Branch Office : |
10/ 291, Veerapandi Post, |
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Tel. No.: |
91-421-2213889 |
DIRECTORS
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Name : |
Mr. Chinnaswamy Jayakumar |
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Designation : |
Director |
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Address : |
No.11, Sedapalayam, Naranapuram Palladam, |
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Date of Birth/Age : |
11.05.1968 |
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DIN No.: |
00643356 |
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Name : |
Mr. Chinnaswamy Anandhakumar |
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Designation : |
Director |
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Address : |
No.11, Sedapalayam, Naranapuram Palladam, |
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Date of Birth/Age : |
05.05.1969 |
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DIN No.: |
00643476 |
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Name : |
Mr. Siddamalai Krishnaswamy Vivekananda |
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Designation : |
Director |
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Address : |
No.41, Balaji Layout, Kankeyam Palayam, Tirupur – 641 604, |
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Date of Birth/Age : |
03.06.1967 |
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DIN No.: |
00334787 |
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Name : |
Mr. Sundaravadivelu Vasanthkumar |
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Designation : |
Director |
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Address : |
137, |
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Date of Birth/Age : |
01.08.1967 |
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DIN No.: |
00405757 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Garments. |
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Exports : |
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Countries : |
European Countries, |
GENERAL INFORMATION
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. Kasi Viswanathan Chartered Accountants |
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Address : |
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Associates/Subsidiaries : |
Renainsance Creation |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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Not Available |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW COMPANY
LOCAL AGENCY FURTHER INFORMATION
WEBSITE DETAILS:
PROFILE:
- Fiber to
garment integrated manufacturing
- Products
include a wide variety of knit, woven and outwear garments.
- Areas of
specialized expertise are active wear, sportswear, golf, office casuals,
ring spun fleece and tees, specialty underwear, thermals, sleepwear and
outerwear.
- Full garment
embellishment capabilities with screen printing, rotary printing,
embroidery and tackle twill.
- Styles cover
Men’s, Ladies, Juniors and Youth.
- Environmentally
responsible operation-wind Powered and zero discharge effluents and waste.
- Manufacturing
in the Indian subcontinent and
- Product
development and market trend offices in the
- Accredited by
International Corporations and moving toward WRAP certification
- Logistical
support to offer FOB, LDP and DDP shipping
- 4500 people
power working
They stand
committed to the products and offer a wide variety of extended service on
product development and technical support through all steps of the process from
yarn through packaged garment
Product Development
Fabric,
Garment, Embellishment and Packaging Design back-up
Constant
innovations and development for the customers
Cad
/
Styling
and creativity with efficient pricing in mind
Market
research with experienced teams in the
Migrating
Global trends
Efficiency
bench mark with the World
Quick
response sampling and quotations
First
time right product plans
Multiple
options for back–up’s in all areas
Tech Support
James
H. Heal equipped lab accredited by international corporations
Fiber
to garment tech support
Dynamic
Testing / Audit results throughout the manufacturing chain
Cost
/ Technology balance.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
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.48.99 |
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1 |
Rs.72.49 |
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Euro |
1 |
Rs.68.44 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
1 |
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--CREDIT LINES |
1~10 |
1 |
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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 |
YES |
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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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12 |
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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