MIRA INFORM REPORT

 

 

Report Date :

17.03.2008

 

IDENTIFICATION DETAILS

 

Name :

NAINKO EXIM PRIVATE LIMITED

 

 

Registered Office :

73, Pocket B-3, 2nd Floor, Safdarjung Enclave, New Delhi – 110029

 

 

Country :

India

 

 

Date of Incorporation :

03.09.2002

 

 

Com. Reg. No.:

116812

 

 

CIN No.:

[Company Identification No.]

U51909DL2002PTC116812

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MRTN00224A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

To carry on the business of merchant, traders, general importers, exporters, distributors, stockiest, international suppliers, commission agents, brokers, consultants and dealers in all manner of goods, commodities or merchandise of any description and to undertaken international trade of goods and merchandise from India.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

The first directors of the company are Korea gentlemen.

 

The company is poor in Corporate Governance and no financials are yet made available with Company Law Board.

 

In absence of latest financials and business details, it would be difficult to assess company’s financial status.

 

Hence, it would be advisable to deal with the company on safe and secured trade terms and conditions, initially.

 

LOCATIONS

 

Registered Office :

73, Pocket B-3, 2nd Floor, Safdarjung Enclave, New Delhi – 110029, India

E-Mail :

nainkoysbae@yahoo.co.kr

 

 

Corporate Office:

C-12, 2nd Floor, Gitanjali Enclave, New Delhi – 110017, India

 

 

Plant :

B – 30/1, Ranjan Gaon, MIDC, Next Bajaj Electricals Tal Shirur, Pune – 412220, Maharashtra, India

Tel. No.:

91-22-38563602

Fax No.:

91-22-38232445

 

DIRECTORS

 

Name :

Mr. Yung Sun Bae

Designation :

Managing Director

Address :

C-12, 1st Floor, Gitanjali Enclave, New Delhi – 110017, India

Date of Birth/Age :

29.08.1959

Date of Appointment :

03.09.2004

 

 

Name :

Mr. Kil Hyang Lee

Designation :

Whole Time Director

Address :

C-12, 1st Floor, Gitanjali Enclave, New Delhi – 110017, India

Date of Birth/Age :

20.06.1962

Date of Appointment :

03.09.2004

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

(As on 30.09.2005)

Names of Shareholders

 

No. of Shares

 

 

 

Mr. Yung Sun Bae

 

155000

Mr. Kil Hyang Lee

 

110017

 

 

 

Total

 

265017

 

(As on 31.03.2007)

Category

 

Percentage

 

 

 

Directors or relatives of directors

 

100.00

 

BUSINESS DETAILS

 

Line of Business :

To carry on the business of merchant, traders, general importers, exporters, distributors, stockiest, international suppliers, commission agents, brokers, consultants and dealers in all manner of goods, commodities or merchandise of any description and to undertaken international trade of goods and merchandise from India.

 

GENERAL INFORMATION

 

Bankers :
  • Sinhan Bank (Chohung Bank)

42, Jolly Maker Chambers II, 4th Floor, 225 Nariman Point, Mumbai – 400021, Maharashtra, India

 

Banking Relations :

Satisfactory

 

 

Auditors :

Not Available

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

500000

Equity Share

Rs.10/- each

Rs.5.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

260000

Equity Share

Rs.10/- each

Rs.2.600 Millions

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

No financials are available, since incorporation of the company.

 

No direct contacts could be established with the management of the company, so far. Efforts are still continued for latest information and if available, it will follow, soon.

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Form 8:

 

Name of the company

NAINKO EXIM PRIVATE LIMITED

Presented By

Mr. Y. S. Bae

Managing Director

1) Date and description of instrument creating the change

The Deed of Hypothecation by way of first charge on the company’s entire movable plant and machineries of present and future, convering the entire Agreement Facilities of Rs.8.000 Millions. Dated 4th April, 2005.

2) Amount secured by the charge/amount owing on the securities of charge

Overdraft Facilities : Not Exceeding Rs.4.000 Millions

 

Short Term Loan of Rs.4.000 Millions

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

Hypothecation by way  of first charge on the company’s entire movable plant and machineries of present and future, convering the entire Agreement Facilities of Rs.8.000 Millions. Situated at the factory premises of the company.

4) Gist of the terms and conditions and extent and operation of the charge.

Overdraft Facility : Not Exceeding Rs.4.000 Millions

Short Term Loan of Rs.4.000 Millions

 

Interests on overdraft Loan and short Term Loan at Bank’s BPLR minus 4.25% p.a. payable at monthly rests. (The applicable interests rate is 7.75% at present)

5) Name and Address and description of the person entitled to the charge.

Chouhung Bank

42, Jolly Maker Chambers II, 4th Floor, 225 Nariman Point, Mumbai – 400021, Maharashtra, India

6) Date  and brief description of instrument modifying the charge

NA

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

NA

 

 

Corporate identity number (CIN) Foreign company registration number

U51909DL2002PTC116812

Name of the Company

NAINKO EXIM PRIVATE LIMITED

Address

C-12, 2nd Floor, Gitanjali Enclave, New Delhi – 110017, India

This form is for

Modification of Charge

Type of Charge

Hypothecation

Particulars of the charge holder 

Sinhan Bank (Chohung Bank)

42, Jolly Maker Chambers II, 4th Floor, 225 Nariman Point, Mumbai – 400021, Maharashtra, India

shbmb@vsnl.net

Nature or description of the instrument(s) creating or modifying the charge

NA

Date of the instrument creating or modifying the charge

Deed of Hypothecation Dated 4th July, 2006.

Amount secured by the charge

Rs.20.000 Millions

Brief particulars of the principal terms and conditions and extent and operation of the charge

As per the Agreement

Short particulars of the property charged (including location of the property)

Plant and Machinery

 

Entire Plant and Machinery situated at factory building.

Particular of the present modification 

To sanction an additional over draft facility.

 

 

 

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.40.45

UK Pound

1

Rs.82.25

Euro

1

Rs.63.20

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

-

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

-

--PROFITABILIRY

1~10

-

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

-

--RESERVES

1~10

6

--CREDIT LINES

1~10

4

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

25

 

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

 

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

 

 

 

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