MIRA
INFORM REPORT
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Report Date : |
17.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
BEST EXPORTS |
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Registered Office : |
Flat # 36/37/38, Ist Floor, C Block, Kushal Garden Arcade, Plot No. 1A,
IInd Phase, Peenya Industrial Area, Bangalore – 560058, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2003 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRB04456E |
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PAN No.: [Permanent
Account No.] |
AAFFB4416Q |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Trader, Exporter and Importer of Aromatic Oils, Aromatic Plants, herbs,
and medicinal Plants, Spice Powders, Seasoning Mixes , Masala Powder,
Spreads, Spices and Herbal Extracts. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 5000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed concern having satisfactory
track. General financial position is
satisfactory. Payments are usually
correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Gopi |
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Designation : |
Accountant |
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Date : |
08.07.2008 |
LOCATIONS
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Registered Office / Godown : |
Flat # 36/37/38, Ist Floor, C Block, Kushal Garden Arcade, Plot No. 1A,
IInd Phase, Peenya Industrial Area, Bangalore – 560058, Karnataka |
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Tel. No.: |
91-80-28372930 / 31 / 41241567 / 789 |
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Fax No.: |
91-80-28372932 |
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E-Mail : |
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Area : |
2000 Sq. ft. |
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Location : |
Owned |
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Head Office : |
S-305, 2nd Floor, J.C. complex Annexe, # 186/1, Sirur Park
Road, Sheshadripuram, Bangalore- 560020, Karnataka State, South India. |
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Tel. No.: |
91-80-23345970/ 23343894 / 23444460 / 41241567 / 41241789 / 41241475 |
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Fax No.: |
91-80-23345970/ 23343894 / 23444460 / 41241567 / 41241789 / 41241475 |
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E-Mail : |
PARTNERS
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Name : |
Mr. K. G. Vidyasagar |
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Designation : |
Partner |
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Date of Birth/Age : |
48 Years |
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Qualification : |
Double Graduate |
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Name : |
Mrs. V. Meenakshi |
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Designation : |
Partner |
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Date of Birth/Age : |
40 Years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Trader, Exporter and Importer of Aromatic Oils, Aromatic Plants,
herbs, and medicinal Plants, Spice Powders, Seasoning Mixes , Masala Powder,
Spreads, Spices and Herbal Extracts. |
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Exports : |
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Products : |
·
Aromatic Oils ·
Aromatic Plants ·
Herbs |
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Countries : |
·
Germany ·
USA ·
Singapore ·
Malaysia ·
Europe ·
UK ·
UAE ·
Poland ·
Singapore |
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Terms : |
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Selling : |
T/T |
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Purchasing : |
Cash – T/T |
GENERAL
INFORMATION
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Customers : |
·
Wholesalers ·
Retailers ·
End Users ·
OEM’s |
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No. of Employees : |
10 |
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Bankers : |
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State Bank of India, Pennya ·
American Express Bank Limited Main Branch, Bangalore |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
PNR and Company Chartered Accountants |
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Associates/Subsidiaries
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Para Fine Chem. Industries, Bangalore ·
Vam International, Bangalore Line
of Business: Manufacturing Air Pollution control equipments ·
Chemicals and Associates, Bangalore Line
of Business: Traders of solvents and adhesives Tapes. |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.000 million |
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Borrowed : |
- |
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Total : |
Rs.1.000 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
25.000 |
30.000 |
29.000 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References :
·
Pura Fine Chem
·
Vam International
Website details
attached:
Subject is a sterling merchant exporter of Standardized Herbal Extracts,
Organic Herbs, Bio-pesticides, manure and Spices.
In Ancient times, their ancestors relied on the Natural ways of life.
They are natural, they practiced Natural Medicine and they even wore
naturals. Man has realized the
importance of Synchronizing with nature and the desire for healthy living is
slowly being revived.
The concern is the juncture; their group of companies felt a need of
venture out into something natural i.e. GLOBAL REACH – NATURALLY.
India with the backdrop of a proud ancient civilization has always
adopted to live in tune with nature and its resources. India is gifted with a strong tradition in
the application of Medicinal plants and herbs care. Practices from the Vedic ages form the foundation to
Phytopharmaceuticals of the present day.
Agricultural practices in India depend largely on Nutrients and
pesticides of organic nature even now in remote villages.
Organic food products, spices etc are gaining importance throughout the
globe owing to the damages being caused to the environment by the mindless use
of chemical fertilizers and hazardous pesticides.
They have a vision to project India as a reliable supplier of
- Herbal
Extracts and organic Herbs.
- Organic Plant
Nutrients and Bio Pesticides.
- Natural
Aerosolic Products for Controlling House mites.
- Spices.
It is their endeavour to achieve total customer satisfaction by being a
premier source of the above select products to the highly quality conscious
international customer.
Their values always emphasize on:
- Customer
satisfaction
- Profitability
- Responsibility
- Integrity
- Excellence
- Sincerity
- Partnership
Their promise to the human community is the respect they have towards
the environment and nature wherever they conduct business and conservation of
Natural resources.
As a commercial company in a highly competitive and dynamic market with
high customer expectation, they want to become a leader by being a fully
integrated reliable supplier of natural products meeting international
specification.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.17 |
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UK Pound |
1 |
Rs.86.46 |
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Euro |
1 |
Rs.68.68 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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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45 |
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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