MIRA
INFORM REPORT
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Report Date : |
02.01.2009 |
IDENTIFICATION DETAILS
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Name : |
SAI SURYAA HOLDINGS PRIVATE LIMITED |
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Registered Office : |
# 3, 2nd Floor, 9th “A” Block, 6th Cross
“A” Main Road, Kumara Park West, Bangalore-560020, Karnataka |
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Country : |
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Date of Incorporation : |
02.01.2007 |
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Com. Reg. No.: |
041342 |
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CIN No.: [Company
Identification No.] |
U70200KA2007PTC041342 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Colours and Allied Products for Furniture Industries. |
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 : |
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 yet to establish itself. The company is
yet to file its first financials with the Government departments and the management
declined to part with any details. No further details could be made
available. The company can be considered for any business dealings on fully safe
and secured terms only. |
INFORMATION DECLINED BY
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Name : |
Mr. Ram Mohan |
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Designation : |
Public Relation Officer |
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Contact No.: |
91-9845433699 |
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Date : |
31.12.2008 |
LOCATIONS
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Registered Office : |
# 3, 2nd Floor, 9th “A” Block, 6th
Cross “A” Main Road, Kumara Park West, Bangalore-560020, Karnataka, India |
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Tel. No.: |
91-80-65761400 |
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Mobile No.: |
91-9845433699 |
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Fax No.: |
91-80-65385337 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Anil Shrinivas |
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Designation : |
Managing Director |
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Address : |
No. 2097/1, Puspa Nilaya, 4th Cross, Pipeline Road,
Prashanth Nagar, T Dasarhalli, Bangalore-560057, Maharashtra, India |
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Date of Birth/Age : |
38 Years |
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Name of Sole proprietorship Firm: |
Surya Holdings Address: # 3, II Floor, 9th ‘A’ Block, 6th
Cross, 1st ‘A’ |
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Name : |
Mr. Prabhu Ramadas |
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Designation : |
Director |
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Address : |
No. 452/3, 4th Main, Brahmaputra, Brandvan Nagar,
Bangalore-560019, |
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Date of Birth/Age : |
50 Years |
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Name : |
Mr. M Vivekananda Shet |
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Designation : |
Director |
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Address : |
No. 4, 8th Cross, Ashoknagar, B.S.K., 1st Stage,
Bangalore-560050, |
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Date of Birth/Age : |
55 Years |
KEY EXECUTIVES
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Name : |
Mr. Ram Mohan |
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Designation : |
Public Relation Officer |
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Mobile No. : |
91-9845433699 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Colours and Allied Products for Furniture Industries. |
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 : |
Not Available |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
New Company.
LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE
Profile:
ROAD TO PROGRESS
IS ALWAYS UNDER CONSTRUCTION”
Subject is a professionally managed and committed
to the core to its performances and promises. The organization is headed by
highly qualified and experienced Group who are having very vast exposure in
National and International Levels in the field of Manufacturing, Mining, Wind
Farming, Hydel Power, Realty, Hospital and Infrastructure Sector.
The Company is headed by Mr. Anil Srinivas as Chairman and Managing Director
and backed by highly qualified and experienced, group Mr. Prabhu Ramadas and M.
Vivekananda Shet as Directors backed by hard-core professionals Mr B. Ram Mohan
as Public Relation Officer and Mr. M. Nagaraj as Project Head of the company
respectively.
The company began life as Manufacturing of Colours and Allied Products for
Furniture Industries. Further the successful growth and time compelled the
company to expand its activities in the field of Mining, Bio Diesel, Wind Farming, Hydel Power, Hospital, Infrastructure
Sector and Realty Sector.
To make Judicious use of Nature’s Gift of Mineral Resources, Wind
Resources, Water Resources and Earth Resources for Growth and Development,
Synchronizing with Mining for Minerals, Harnessing Pollution Free Energy from
Wind Farms, Harnessing Pollution Free Energy from Water Resources and Mother
Earth for Plantation of Jatropha for Harnessing Natural Bio-diesel in Natural
Environment with prosperity and provision for posterity.
Vision
To emerge as a world class company and preferred partner to diverse
industries through proactive customer support, innovation and cutting edge
technology. The standards of integrity, reliability High Ethical Standards and
Transparency, Provide an environment of professionalism, competence, teamwork,
and service excellence and social responsibility which will become benchmarks
for other companies to emulate. The commitment, zeal and team spirit of the
human resources will enable them to transform this vision to reality.
A Continuous Dream and Desire to
excel in all spheres.
Values
In times of constant change the values will remain constant – integrity,
innovation, partnership, respect, responsibility, stability, transparency, zeal
Outsourcing – these will create more value for the company and the clients.
Group Activities
A Continuous Dream and Desire to excel in all spheres
The Company is presently establishing its strong presence in the field of
Mining, Wind Farming, Hydel Power, Setting up
They also serve the valued clients to establish and raise Finance in
setting up of Mining, Wind Farming, Hydel Power, Hospitals, Infrastructure
Projects with appropriate Lenders as we have access to the best of the
Professionals in the field of Project Finance, keeping in view that most of the
Promoters with the best of the known technologies to implement Projects have
failed due to non-availability of Timely Finance.
Code of Conduct
People
They believe in line of the HR Philosophy to uphold the values which are at the
core of the business ethics, honesty, integrity, team work, objectivity, self
respect and human dignity. They believe in fair and trustworthy relationships.
Philosophy
The Company is committed to the adoption of best corporate governance practices
which ensure accountability of management and maximization of stakeholders
value. They shall strive to put in place process, system, control and
governance structures for protecting and furthering the interest of the
stakeholders.
Ethical Conduct
Every employee of the Company, which shall include a whole-time director
and the managing director shall deal on behalf of the company with
professionalism, honesty and integrity, as well as high morale and ethical
standards. Such conduct shall be fair and transparent and be perceived to be as
such by third parties.
Accountability
The Board of Directors (BOD) shall oversee the Company’s adherence to ethical
and legal standards. All employees and the members of the BOD shall undertake
to stop or prevent actions that could harm customers, the system or reputation
of the Company.
Confidential Information
No employee shall disclose or use any confidential information gained in
the course of employment with the Company for personal profit or for the
advantage of any other person. No employee shall provide any information either
formally or informally to the press or to any other publicity media unless
specifically authorized to do so.
Disciplinary Action
The Company will take appropriate action against any employee, agent,
contractor or consultant whose actions are found to violate these policies or
any other policy of the Company. Disciplinary actions may include immediate
suspension/ termination of employment or business relationship at the Company’s
sole discretion. Where the Company has suffered a loss, it may pursue its
remedies against the individuals or entities responsible. Where laws have been
violated, the Company will cooperate fully with the appropriate authorities.
Every employee shall be responsible for the implementation of and compliance
with this code in his professional environment. Failure to adhere to the code
could attract the most severe consequences, including termination of
employment.
Every employee of the Company shall promptly report to the management any
actual or possible violation of this code, or an event he or she becomes aware
of that could affect the business or reputation of his/her or any other group
Company.
Projects
SSHPL announces it’s strategic partnership with Euro capital ventures, a
subsidiary of Zurich Trust in promoting wind farm projects in
Sourcing and acquisition of land suitable for Bio Diesel project at Belgum is
under process.
SSHPL has applied for mining license in Sandur and Hospet sectors with the
Government of Karnataka. The total of 7 mining licenses has been applied and
the area will enable SSHPL to become the largest Iron ore mine owners in south
Channel Partners
Euro Capital Ventures – Subsidiary of
Zhanjiang Port Guangxin International Logistics Company Ltd., - Xiashan
District,
CMT REPORT (Corruption, Money Laundering and 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.48.73 |
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1 |
Rs.71.21 |
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Euro |
1 |
Rs.68.09 |
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 |
-- |
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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 |
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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10 |
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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