MIRA
INFORM REPORT
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Report Date : |
30.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
JAY EXPORTS HOUSE |
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Registered Office : |
53/8, Shastri Nagar, Meerut – 250 004, Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
1985 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Exporters of Sports Goods. |
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 12000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed concern meeting its normal
commitments timeously. Trade relations are fair. The concern can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Vijay Jandial |
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Designation : |
Proprietor |
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Contact No.: |
91-9412405832 |
LOCATIONS
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Registered Office : |
53/8, Shastri Nagar, Meerut – 250 004, Uttar Pradesh, India |
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Tel. No.: |
91-121-2772202 / 4000832 |
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Mobile No.: |
91-9412405832 |
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Fax No.: |
91-121-2772202 |
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E-Mail : |
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Area : |
300 Sq.ft |
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Location : |
Owned |
PROPRIETOR
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Name : |
Mr. Vijay Jandial |
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Designation : |
Proprietor |
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Date of Birth/Age : |
59 Years |
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Qualification : |
B.E. Elect |
BUSINESS DETAILS
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Line of Business : |
Exporters of Sports Goods. |
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Exports : |
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Products : |
Sports Goods |
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Countries : |
v Australia v USA v South Africa v U.K. v New Zealand v Bangladesh v West Indies |
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Terms : |
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Selling : |
L/C, Cash or TT |
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Purchasing : |
L/C or TT |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
5 |
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Bankers : |
v State Bank of
India Commercial Branch, Gauga Plaza, Begum
Bridge Road, Meerut – 250 002, Uttar Pradesh, India v Indian Overseas
Bank Shastri Nagar Branch, Meerut – 25004,
Uttar Pradesh, India |
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Facilities : |
CC – Rs. 1.000 million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
V. Kumar and Company, Chartered Accountants |
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Address : |
Meerut, Uttar Pradesh |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 3.000 millions |
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Borrowed : |
-- |
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Total : |
Rs. 3.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
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Sales Turnover |
8.000 |
6.000 |
LOCAL AGENCY
FURTHER INFORMATION
Table
|
Parameters |
Details |
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Existence
Verification |
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|
Name |
JAY EXPORTS HOUSE |
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Address |
53/8, Shastri Nagar, Meerut – 250 004, Uttar Pradesh, India |
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Tel No : |
91-121-2772202 / 4000832 |
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Mobile No : |
91-9412405832 |
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Fax No : |
91-121-2772202 |
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Statutory
Approvals |
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Legal Status of
Firm |
Proprietorship
Concern |
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Income Tax
Registration |
PAN ACAP57358N |
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State Sales Tax
Registration |
TIN No 09276501952 |
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Excise
Registration |
Not A |
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Import Export
Code |
058002305 |
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Name of Bank |
State bank of
India, Meerut and Indian |
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Current Account
No |
Not disclosed |
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Account Since |
Since 1985 |
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Emp OF Reg
Number |
No |
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Company ESI Reg.
Number |
No |
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RBI Code Number |
PAN ACAPJ7358N |
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Credibility
Factors |
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India Mart
Client Since |
3 Years |
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Year of
Establishment |
1975 |
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Turn over |
About Rs. 10.000
millions |
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Turnover Year |
2008 – Rs.
10.000 millions 2007 – 9.200
millions 2006 – 8.900
millions |
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Trade
Affiliations |
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SSI Registration |
No |
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Export Promotion
Council |
Sports Goods
Export Promotion Council, N |
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Chambers of
Commerce Membership |
Western U.P.
Chamber of Commerce and Industry |
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Standards and
Certifications |
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Quality
Management Systems |
They are
Maintaining quality according |
Trade References
v Bajnath Sports and Dry goods stores, West Indies
v Ultra Sports, Bangalore
v Crackerjacks, South Africa
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. 42.59 |
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UK Pound |
1 |
Rs. 84.16 |
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Euro |
1 |
Rs. 65.99 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
NO |
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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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