MIRA
INFORM REPORT
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Report Date : |
18.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
FAIRDEAL IDOL |
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Registered Office : |
54 / 4, M. G. Road,
Haridevpur, Kolkata – 700 082, West Bengal |
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Country : |
India |
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Financials (as on) : |
29.02.2008 |
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Year of Incorporation : |
2006 |
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Com. Reg. No.: |
L049017 |
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PAN No.: [Permanent
Account No.] |
AGOPA4213H |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of
Fishing equipments |
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/normal. |
Small |
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Maximum Credit Limit : |
USD 2000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern having satisfactory track. Proprietor is reported as experienced and
respectable businessman. Trade
relations are reported as fair. Business
is active; payments are however reported as usually correct and as per
commitments. The concern can be considered for small business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Bimalesh Auddy |
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Designation : |
Proprietor |
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Contact No.: |
91-9831615771 |
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Date : |
18.03.2008 |
LOCATIONS
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Registered Office / Head Office / Factory : |
54 / 4, M. G. Road,
Haridevpur, Kolkata – 700 082, West Bengal |
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Tel. No.: |
91-33-24029497 / 65112662 |
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Fax No.: |
91-33-24025805 |
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E-Mail : |
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Website : |
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Area : |
700 Sq. fts. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Bimalesh Auddy |
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Designation : |
Proprietor |
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Address : |
402, M G Road, Haridevpur, Kolkata – 700 082 |
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Mobile No.: |
91-9831615771 |
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Date of Birth/Age : |
45 years |
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Qualification : |
Graduate |
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Experience : |
25 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of
Fishing equipments |
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Exports : |
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Products : |
Fishing Equipments |
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Countries : |
Australia, France, Denmark, New Zealand, U. K., U.S.A, European and African
Countries. |
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Terms : |
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Selling : |
Cash / Credit (90 days), L/C D/A and D/P |
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Purchasing : |
Cash and Credit (30days or 60 days) |
PRODUCTION STATUS
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Products |
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Actual
Production |
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Fishing Accessories |
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Fishing Article |
GENERAL
INFORMATION
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Suppliers : |
Mainly buying from Local markets |
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Customers : |
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No. of Employees : |
10 |
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Bankers : |
Ing Vysya Bank Limited, Brabourne Road Branch, 1, Old Court House
Corner, Kolkata – 700 001, India Bank Swift Code no.: VYSAINBBACAL Account No.: 553011008469 Hongkong and Shangai Bank, Hongkong House, Kolkata - 700001 |
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Facilities: |
(O/D Rs.0.250 Million from Hongkong and Shangai) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Deepak Banejree Chartered Accountant |
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Affiliates : |
Manasha Enterprises Address: 54 / 4, M G Road, Haridevpur, Kolkata – 700 082, West Bengal,
India Line of Business: Fishing Accessories |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.500 Millions |
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Borrowed : |
0.000 |
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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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29.02.2008 |
31.03.2007 |
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Sales Turnover |
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10.000 |
5.000 |
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Profit for the year |
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0.000 |
0.203 |
Total Expected by March 2008 – Rs. 12.000 Millions
Orders on Hand: Rs. 4.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Website details attached:
The subject is the manufacturers and exporters of Fly and Carp Fishing
Equipments.
Fly Fishing
Products:
n
VISES
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KITS / DISPLAY
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SCISSORS
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FORCEPS
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FISHING PLIERS
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GENERAL BOBBINS
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CERAMIC BOBBINS
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HACKLE PLIERS
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WOODEN TOOLS
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PLASTIC TOOLS
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WHIP FINISHERS
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BRASS TOOLS
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GENERAL TOOLS
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STAKERS
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ACCESSORIES
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PIN ON REELS
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PRIESTS
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BEADS
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PIKE GAGS
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TINSELS / THREADS
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FEATHERS
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FISHING BAGS
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REEL CASES
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WALLETS
Carp Fishing
Products:
n NEW PRODUCTS
n ROD PODS
n TRI PODS
n BANK STICKS
n BUZZER BARS
n POLE RESTS
n FEDER ARMS
n ROD RESTS
n INDICATORS
n MONKEY CLIMBERS
n BUBBLE FLOATS
n METAL ACCESSORIES
n METAL PARTS
n NET ACCESSORIES
n DISGORGERS
n CARP ACCESSORIES
n FLOATS
n POLE AND FLOAT ACCESSORIES
n HOOK ACCESSORIES
n CARP LEADS
n SEA ACCESORIES
n MISCELLANEOUS
n CATPULTS
n KIT ACCESSORIES
n PATTER NOSTER / RIGS
n HAIR RIGS
n MACKERELS
n HOLDOLS
n FISHING BAGS
n BEADS
n PRIEST HAMMERS
n PIKE GAGS
n FORCEPS
n FISHING PLIERS
n PIN ON REELS
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 records 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. 40.77 |
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UK Pound |
1 |
Rs. 82.10 |
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Euro |
1 |
Rs. 64.48 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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28 |
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/normal. |
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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