MIRA
INFORM REPORT
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Report Date : |
02.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
DECENT LITES |
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Registered Office : |
Agra Road, Firozabad – 283203, Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1994 |
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Com. Reg. No.: |
090/ 161100101 |
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IEC No.: |
0601001125 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AGRD10753B |
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TIN No.: |
9403900485 |
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PAN No.: [Permanent
Account No.] |
AAAFD7402M |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer and Exporter of Glasswears like Candle Stand, Christmas Stand,
Decoratives and Lapms etc and Kitchenwares. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 7500 |
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Status : |
Small Concern |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern meeting its smaller commitments
timeously. Trade relations are fair. Business is active. The concern can be considered good small to mediocre business
dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Ashish Agarwal |
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Designation : |
Partner |
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Date : |
17.06.2008 |
LOCATIONS
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Registered Office / Factory : |
Agra Road, Firozabad – 283203, Uttar Pradesh, India |
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Tel. No.: |
91-5612-231742 |
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Mobile No.: |
91-9837163695 |
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Fax No.: |
91-5612-231775 |
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E-Mail : |
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Website : |
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Area : |
2500 Sq. mtrs |
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Factory : |
Agra Road, Firozabad – 283203, Uttar Pradesh, India |
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Area : |
16*45 Sq. ft. |
PARTNERS
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Name : |
Mr. Ashish Agarwal |
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Designation : |
Partner |
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Address : |
Agra Road, Firozabad – 283203, Uttar Pradesh, India |
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Date of Birth/Age : |
35 Years |
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Qualification : |
Graduate |
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Experience : |
13 Years |
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Name : |
Mr. Anurag Agarwal |
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Designation : |
Partner |
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Address : |
Agra Road, Firozabad – 283203, Uttar Pradesh, India |
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Date of Birth/Age : |
30 Years |
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Qualification : |
B.E. |
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Experience : |
9 Years |
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Name : |
Mr. Ajay Agarwal |
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Designation : |
Partner |
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Address : |
Agra Road, Firozabad – 283203, Uttar Pradesh, India |
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Date of Birth/Age : |
44 Years |
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Qualification : |
Mech. Engineering |
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Experience : |
19 Years |
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Name : |
Mr. Niraj Agarwal |
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Designation : |
Partner |
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Address : |
Agra Road, Firozabad – 283203, Uttar Pradesh, India |
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Date of Birth/Age : |
38 Years |
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Qualification : |
LLB |
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Experience : |
15 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Glasswears like Candle Stand, Christmas
Stand, Decoratives and Lapms etc and Kitchenwares. |
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Products : |
v Glass Bottle and
Decanter v Glass Candle
Votive v Glass Tableware v Glass Flowervase v Glass
Handicrafts v Christmas
Decoration v Glass Lamps v Candle Holder
and Lentern v Chandelier v Hanging |
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Exports : |
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Products : |
v Kitchenwares v Giftwares |
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Countries : |
v Singapore v Indonesia v Sri Lanka v Europe v Middle East |
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Terms : |
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Selling : |
Cash and Credit ( 30 days) |
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Purchasing : |
Cash and Credit ( 30 days) |
PRODUCTION STATUS
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Particulars |
Installed
Capacity |
Actual
Production |
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Kitchenwares and Giftwares |
NA |
As Per Demand |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
Total : 55 ( Office : 5, Factory : 50) |
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Bankers : |
v Punjab National
Bank Firozabad |
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Facilities : |
Limit Rs. 1.000 million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
R T Goyal and Company Chartered Accountants |
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Address : |
Firozabad |
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Sister Concerns : |
v Decent Pack Address: Firozabad |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.500 millions |
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Borrowed : |
-- |
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Total : |
Rs. 1.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Share Capital |
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1.500 |
1.470 |
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Fixed Assets |
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0.150 |
1.510 |
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Inventories |
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3.400 |
4.000 |
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Sundry Debtors |
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2.543 |
2.454 |
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Cash and Bank |
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0.350 |
0.233 |
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Current Liabilities |
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4.959 |
4.551 |
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Sales Turnover |
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5.000 |
4.700 |
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Profit/Loss for the year |
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0.170 |
0.130 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v
Land Mark Group – Dubai
v
Shavilchi Homewares - UK
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 :
The 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.
The 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. 43.27 |
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UK Pound |
1 |
Rs. 86.28 |
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Euro |
1 |
Rs. 68.24 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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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36 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
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