MIRA
INFORM REPORT
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Report Date : |
20.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
SADHRTA RETAIL PRIVATE LIMITED |
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Registered Office : |
604, Oyester Shell -1, Juhu Tara Road, Juhu Beach, Mumbai – 400049,
Maharashtra |
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Country : |
India |
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Date of Incorporation : |
04.04.2007 |
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Com. Reg. No.: |
169638 |
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CIN No.: [Company
Identification No.] |
U74999MH2007PTC169638 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Providing E-Procurement (Electronic Procurement) |
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 yet to complete first full year of its
operations. Company’s first financials are awaited. However the management
claims to have done good business during the first 10 months of its
operations. No further details or payment could be made available. The company can be considered for small to mediocre business dealings
with slight caution, initially. No clean credit can be granted. |
INFORMATION PARTED
BY
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Name : |
Mrs. Desai |
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Designation : |
Finance and Admn. Manager |
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Date : |
19.02.2008 |
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Name : |
Ms. Jennifer |
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Designation : |
Finance and Admn. Manager (Head of Department) |
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Date : |
19.02.2008 |
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Name : |
Ms. Alpa |
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Designation : |
Finance |
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Date : |
19.02.2008 |
LOCATIONS
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Registered Office : |
604, Oyester Shell -1, Juhu Tara Road, Juhu Beach, Mumbai – 400049,
India |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Location : |
750 sq. ft. |
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Head Office : |
401, Midas Chambers, Mumbai – 400053, Maharashtra, India |
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Tel. No.: |
91-22-66126000 |
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Fax No.: |
91-22-66126007 |
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Area : |
Rented |
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Location : |
3200 sq. ft. |
DIRECTORS
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Name : |
Mr. Kaustubh Chokshi |
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Designation : |
Director |
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Name : |
Mrs. Anjana Chokshi |
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Designation : |
Director |
BUSINESS DETAILS
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Line of Business : |
Providing E-Procurement (Electronic Procurement) |
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Imports : |
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Products : |
Samina Sleeping Systems |
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Countries : |
Austria |
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Terms : |
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Selling : |
Cash and Credit (30-60-90 days) |
GENERAL
INFORMATION
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Customers : |
Individual Company |
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No. of Employees : |
Around 50 |
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Bankers : |
HSBC Bank, Vile Parle (West) Mumbai |
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Banking
Relations : |
- |
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Auditors : |
Not Available |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Share |
Rs.10/- each |
Rs.0.100 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Share |
Rs.10/- each |
Rs.0.100 Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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30.04.2007-31.01.2008 |
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Sales Turnover |
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60.000 |
LOCAL AGENCY
FURTHER INFORMATION
Profile:
Subject is a e-commerce company, providing E-procurement (Electronic
Procurement). Subject acts as a single interface for various buyers to buy from
sellers who host their products and services across the internet through their
website. Subject offers an online shopping boulevard.
Trade Reference:
- Gitanjali Gems
- D’Dmas
- Madhura Garments
Management:
- Dr. Kaustubh
Chokshi
Dr. Kaustubh Chokshi, 28, Director of subject is a skilled
data analyst and technologist, Dr. Chokshi has extensive knowledge and experience
in neural networks and intelligent agents. With a PhD in Artificial
Intelligence (AI) from the University of Sunderland (UK), as well as a business
degree, Dr Chokshi has had significant success in incorporating cutting-edge AI
research into intelligent software for the enterprise.
With IBS in the United Kingdom, Dr Chokshi has a successful track record in
creating innovative AI-based solutions for diverse business needs. This
expertise is now being made available in India, with IBS rapidly expanding
within the country into software services, consulting, product software and
education, in the fields of Artificial Intelligence, Bioinformatics and
Robotics. Dr Chokshi continues to maintain his ties with the international AI
scientific community, and, in addition to his corporate responsibilities, also
remains a Research Fellow at King’s College in London.
Dr Chokshi, who heads and overlooks the retailing of software from Intelligent
Business Systems has done in-depth research and has through knowledge of the
market in India and the retailing trends. His experience will enable subject to
use the innovative techniques of marketing to bring subject to the forefront
faster and with more rooted strength. Subject will be managed and handled by
Dr. Chokshi until subject will get its permanent CEO.
- Upen Chokshi
Mr. Upen Chokshi, 55, Advisor, Director and co-founder of
Synergo AG. Upen Chokshi comes from a Business Background, after leading
successful pharmaceutical companies in India, ventured into management
consulting in India and Europe. Upen Chokshi is a management consultant to
various companies across Europe.
- Andre
Shortell
Mr. Andre Shortell, Director, Currently Director and CEO,
Intelligent Business Systems Private Limited. He was previously CEO for Dinner
Clubs Europe, and also the Business manager for CITI Banks Card acquisitions
unit. In his previous experiences, he has been Managing Director for Citibank
India - Global Corporate and Investment Banking and has a vast experience in
CITI group. He has worked in various departments of CITI group and for various
industry segments.
- Günther Amann
Jennson
Mr. Günther Amann Jennson, Founder and Owner of Samina
Produktion- und Handels GmbH. and the author of “Sleep your way to health”. The
concept of bio-energetic sleep was developed by Günther W. Amann-Jennson
between 1983-1988 after many years of studies and practical experiences in the
fields of health, construction, living and sleep biology, electrical biology,
psychology, sleep medicine, orthopaedics, bed climatology, natural material,
vital energy research, naturopathy and bio-magnetic field therapies. Samina was
established in 1988 and the concept of "Healthy Sleep" was
implemented by Mr. Jennson.
Today, he owns and overlooks retail stores, franchisees and distributors of
Samina worldwide. His expertise in international retailing and marketing will
provide subject with hands on experience and strength.
Partners:
- Intelligent
Business Systems Private Limited
Subject (IBS) in collaboration with Intelligent Business
Systems Private Limited, would take over the marketing online sale of its
software products. The first product in this chain has been SHADOW, the
Intelligent Inventory Management System.
Subject has exclusive rights to market and sell other
upcoming software products of Intelligent Business Systems which include:
- NARK- the HR
Management System,
- Financial
Dynamics- the accounting package,
- Artemis-
Customer Relationship Management,
- Hermes- an
office planner (consisting of various aspects such as e-mail client and
contact manager),
- IBS Bespoke
Solutions Private Limited
Subject has a venture exclusively with IBS Bespoke
Solutions, to provide subject with brands such as Cyfra, for sale of customised
Personal Computers as per the user requirements.
Under the Product Range of Cyfra subject would sell certain
products to cater to a definite audience. These products for instance, the
HOMEBUG a product especially designed for home users, office were for office
use and MEDIACENTRE for media centred PCs, can be sold as a unit across the
internet through subject.
Under the terms of the contract with IBS Bespoke, subject
would also be the sole retailers and distributors of the upcoming brand of
server solutions named Ballast.
Sadhrta – Samina:
The Samina Healthy Sleep Philosophy meets all the well-known orthopedic,
materials-related, living-biological and bio-energetic requirements for the
best possible sleep quality and for the regeneration of the body, mind and
spirit. Samina has paved the way to a holistic product range for sleep
optimisation. For healthy sleep is the simplest way to better health, vigor,
vitality, vital energy and success.
Healthy Sleep is one of the most important pillars for
physical, psychic and spiritual-mental fitness. The Sadhrta Samina Healthy
Sleep Philosophy meets all the well-known orthopaedic, materials-related,
living-biological and bio-energetic requirements for the best possible sleep
quality and for the regeneration of the body, mind and spirit.
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] 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.39.87 |
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UK Pound |
1 |
Rs.77.79 |
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Euro |
1 |
Rs.58.59 |
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 |
3 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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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 |
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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15 |
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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