MIRA
INFORM REPORT
|
Report Date : |
31.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ASSOCIATED BUSINESS GROUP |
|
|
|
|
Registered Office : |
B – 1A/28, B Block, Commercial Complex, Sector 51, Noida – 201301,
Uttar Pradesh, India |
|
|
|
|
Country : |
India |
|
|
|
|
Year of Establishment : |
1954 |
|
|
|
|
Line of Business : |
Provide service of office cafeteria, Hospital Pantry, hotels, guest
house, educational and institutional mess. |
RATING &
COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Undetermined |
|
|
|
|
Comments : |
Subject appears to be a small, unorganised Catering Service Provided. Several attempt made to talk to Mr. Anand who remained non-cooperative
during investigations. The concern is not known to the consulted trade and business circles
in Mumbai and Noida. It would be prudent to deal with the concern on safe and secured trade
terms and conditions, only. |
LOCATIONS
|
Registered Office : |
B – 1A/28, B Block, Commercial Complex, Sector 51, Noida – 201301,
Uttar Pradesh, India |
|
Mob No.: |
91-9810182296 / 9910182296 |
|
Area : |
Small Area |
|
Location : |
Rented |
|
|
|
MANAGMENT
|
Name : |
Mr. H. S. Anand |
|
|
|
|
Name : |
Mr. Harjot Singh |
|
|
|
|
Name : |
Mr. Gurudeep Sodhi |
BUSINESS DETAILS
|
Line of Business : |
Provide service of office cafeteria, Hospital Pantry, hotels, guest house,
educational and institutional mess. |
|
|
|
|
Products : |
|
|
Terms : |
|
|
Selling : |
Credit |
|
|
|
|
Purchasing : |
Cash |
GENERAL
INFORMATION
|
Customers : |
|
|
|
|
|
No. of Employees : |
Unknown |
|
|
|
|
Bankers : |
Not divulged |
|
|
|
|
Auditors : |
NA |
|
Capital Investment : |
|
|
Owned : |
NA |
|
Borrowed : |
-- |
|
Total : |
NA |
LOCAL AGENCY
FURTHER INFORMATION
Web Details
Attached
Established in the year 1954, they are one of the professionally managed
organizations, engaged in offering prompt catering services to their clients
across the country. Ever since their establishment, they have made indelible
marks of quality in the hospitality sectors as a well known catering service
providers.
They are engaged in offering services for office cafeteria, hospital pantry,
hotels, guest houses, educational and institutional mess. Their catering
services also extends to packed meal tiffins services, conference catering
services, get together parties, birthday parties, opening ceremonies, marriage
and theme parties.
They
use finest quality food material and ingredients and ensure that their services
are executed as per client's requirements. Furthermore, they are empowered with
reliable and efficient staff employed in the kitchen, which has expertise in
the the preparation of delectable cuisines.
Leveraging on their ability to execute services as per client's requirements,
they have successfully catered to some of the major events such as completion
of Indira Gandhi's ten years as a prime minister, by serving 50,000 guests at
Brabtheirne Stadium.
Their Member
Over
the years in the industry, they have flourished under the guidance of their
mentors and guarantee cost effective and quality services to their clients.
Their quality services in the domain is the outcome of the professional
attitude of their mentors. Few of the names, who have made them grow and
compete in this industry are-
• Mr.
M.S. Anand: He is the founder of ABG Catering,
who has more than 40 years of experience in the catering business.
• Mr. Harjot Singh: A professionally qualified
person passed out from the Institute of Hotel Management, Mumbai, with vast
years of experience in the domain.
• Major
Gurdeep Sodhi: A qualified and well experienced
professional in administration and quality management systems. He has worked with
THE IMPERIAL HOTEL, New Delhi.
Their Array of Services
Catering to their client's
requirements for mouth lickering tastes and different varieties, they offer
catering services for Office Cafeteria, Educational Institutions, Conferences,
Opening Ceremonies, Hotels & Guest Houses, Hospitals, Get togethers,
Birthday Parties, Marriage Parties and Receptions. Along with these services,
they also offer Packed Meal Services as well.
Some of the major attraction of their services are:
• Use of fresh and good quality food ingredients
• Prompt services
• Menu designing as per client's requirements
Through their efficient and very prompt catering services, they have
successfully catered to the requirements of leading MNC's, I.T. Companies along
with call centers and Indian Corporations in Delhi and NCR regions. Their long
presence in the industry has enabled them in managing their clientèle base from
both corporate as well as residential arena.
Hygienic Kitchen
They have a well set up kitchen,
which is equipped with latest cooking equipment, which makes the cooking
process less painstaking. It has different sections of cooking furnaces and
counters for baking, chopping, boiling etc. To facilitate different activities
they are supported by huge cooking ranges, which takes acre of varied processes
of cooking such as baking, grilling, cooking, chopping. In addition to this,
they also have dicing machines, grinders, blenders, pulp making machines to
make the cooking process easy and smooth. Besides the kitchen, they also have
large cold storage area, where they store all the vegetables, meat and dairy
products to ensure their freshness and quality and longer shelf life.
Qualified Chefs
They leverage on the expertise
of their chefs, who are picked up from best hotel management institutes. Their
master chefs have a wide experience in the hotel industry and have been
associated with reputed hotels and restaurants in the country. They are adept
in preparing various Indian and International cuisines with utmost ease and
finesse. It is their knowledge in the field that helps them in preparing dishes
with the right amount of ingredients being put. Their chefs also have expertise
in preparing numerous desserts and appetizers with the main course dishes.
Apart from the chefs, they also have a team of managers, consultants, logistics
people, supervisors, tasting experts and allied workers. All of them combined
together form a dedicated force ready to take on the challenges of the industry
and provide the best possible services.
Quality Assurance
They are committed to provide
healthy and hygienic food to all their customers. Their supervisors have an eye
for detail and hence keep a stringent check to see that there are no laxes and
hygiene is not compromise. They realize the importance of a clean atmosphere,
free from germs that goes a long way in determining the quality of food.
They also check for any food spoilage and ensure that spoiled food is not sent
out. It is also ensured that there is no food wastage and hence only the
required amount is prepared. They buy their raw food items from reputed whole
sellers so as to maintain standards at all times. With such strict checking
they are able to provide consistent quality combined with nutritious food.
Packing and Delivery
Proper packing and prompt
delivery is another important aspect in this industry. It is ensured that the
food is packed hygienically to prevent it from bacteria that might lead to
spoilage. Since all their food items are meant to be taken to the customer’s
premises, they have special delivery vehicles that have a controlled
temperature inside.
They make prompt deliveries to reach well before time as it also takes time to
set the preparations accordingly. In case of their tiffins and box lunches they
ensure that the tiffins are properly cleaned
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.47 |
|
UK Pound |
1 |
Rs.84.00 |
|
Euro |
1 |
Rs.66.14 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|