MIRA INFORM REPORT

Report Date :

20.06.2008

IDENTIFICATION DETAILS

Name :	KRISHNAKUMAR AND COMPANY (PVT) LTD
Registered Office :	# 185, 04^th Cross Street, Colombo 11
Country :	Sri Lanka
Date of Incorporation :	18.03.1999
Com. Reg. No.:	N (PVS) 23309
Legal Form :	Private Limited Liability Company
Line of Business :	Dealers in Grocery items provisions, products of any description for commercial, agricultural, industrial personal or domestic purpose to use

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small Company
Payment Behaviour :	No Complaints
Litigation :	Clear

GENERAL - Basic information at a glance

Name of Subject of Inquiry	:	KRISHNAKUMAR AND COMPANY (PVT) LTD
Legal Form & Status	:	Private Limited Liability Company (In operation)
Managing Director	:	K. Khim Chand Vasanji
Primary Line of Business	:	Dealers in grocery items provisions, products of any description for commercial , agricultural, industrial personal or domestic purpose to use
Head Office & Place of Business	:	# 185, 04^th Cross Street, Colombo 11 Tel. No: (00 94 11) 232 6841 Fax No: (00 94 11) 238 8204 Mobile No: (00 94 77) 776 9055 – Mr. Nagesh
No. of Employees	:	08+

COMPANY DETAILS - Registration and Shareholder Details

Registration No		:	N (PVS) 23309
Date of Registration		:	18^th March 1999
Registered Office		:	# 185, 04^th Cross Street, Colombo 11
Board Of Directors As At 08^th July 2004		:	K. Khim Chand Vasanji	Managing Director
			V.K Chand Vasanji	Director
			D.K. Vasanji	Director
			S.K.K. Vasanji	Director
			B.K. Vasanji	Director
Authorised Share Capital		:	Rs. 3,000,000.00
Issued Share Capital		:	Rs. 100.00
Nominal Value of Share		:	Rs. 10.00
Share Holders As At 08^th July 2004		:	Share Holders	No of Shears
			K. Khim Chand Vasanji	04
			V.K Chand Vasanji	03
			D.K. Vasanji	01
			S.K.K. Vasanji	01
			B.K. Vasanji	01
Secretaries	:		Business Allied Service Ltd
Auditors	:		Ratnayake T.A & Co
Bankers		:	Peoples Bank, Commercial Bank

FINANCIAL DETAILS - Most recent available Financial Information

THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES

Current investigation

· History.

The Subject Company KRISHNAKUMAR AND COMPANY (PVT) LTD is a Private Limited liability Company incorporated in 18^th March 1999.

· Location.

The Subject Company is located at the client given address # 185, 04^th Cross Street, Colombo 11

· Operations Details.

General

The subject company primary line of business is Dealers in grocery items provisions, products of any description for commercial, agricultural, industrial personal or domestic purpose to use

Products

Onions, Potatoes

Country

India

Employees

08+

· Financial Data

The company has declined to provide information on its finances

· General Comments

When the Subject Company was contacted they were very cooperative and polite in providing the information given in this report, however they were reluctant to provide financial and any other background information that would have been useful to enhance this report.

· Trade references

The subject company did not provide any trade reference referrals

· Credit Recommendations

Since no financial information has been forthcoming from the company, it is not possible to comment on the merits or otherwise of the company.

No computerised data bases exist to make checks whether the partners or the company has any legal action or lawsuit initiated against any of them but informal (but not in-depth) checks do not indicate any such cases in the public knowledge.

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

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions