MIRA
INFORM REPORT
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Report Date : |
31.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
FABRIC INDIA |
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Registered Office : |
B-19/ 17A-2, D, Ansar Nagar, Deoriabeer, Bhelupur, Varanasi- 221010,
Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
October 2003 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer, Trader, Exporter and Importer of Fabrics (Silk Fabrics) |
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 10000 |
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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 having satisfactory track. Proprietor is reported as well experienced in his business. Trade relations are reported as fair. Payments are reported as usually made as per commitments. The concern can be considered normal for business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Tarique Waheed |
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Designation : |
Brother of Proprietor |
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Contact No.: |
91-9919000099 |
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Date : |
10.05.2008 |
LOCATIONS
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Registered Office : |
B-19/ 17A-2, D, Ansar Nagar, Deoriabeer, Bhelupur, Varanasi- 221010,
Uttar Pradesh |
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Tel. No.: |
91-542-2454983 / 2454964 / 3290309 |
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Mobile No.: |
91-9919000019 |
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Fax No.: |
91-542-2454411 |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Factory : |
N-15/104, Sudamapure, Varanasi-221010, India |
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Mobile No.: |
91-9839089991 |
SOLE PROPRIETOR
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Name : |
Mr. Israel Belal |
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Designation : |
Proprietor |
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Address : |
B-19/17A-2D, Ansar
Nagar, Deoriabeer Bhelupur, Varanasi – 221 010, Uttar Pradesh, India |
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Date of Birth/Age : |
36 Years |
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Qualification : |
Graduate |
KEY EXECUTIVES
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Name : |
Mr. B. N. Singh |
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Designation : |
Chief Executive Officer |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Trader, Exporter and Importer of Fabrics (Silk Fabrics) |
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Products : |
· Hi-Fashions · Silk · Cotton · Rayon Printed · Embroidered · Fabrics · Brocade Fabrics Jacquard Fabrics · Metallic Fabric Pleated Fabrics · Lamin Fabrics · Made-ups · Cushion Covers · Shawls · Stoles · Scarves · Home Furnishing · Curtains · Table Covers · Table Toppers · Runners · Bed Spreads with matching Cushion Covers, Pillows and Cylindrical Pillows · Fabrics · Madeups · Home Furnishings · Garments |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
L/C, Cash or Credit under L/C terms |
GENERAL
INFORMATION
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Customers : |
Wholesalers and Retailers |
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No. of Employees : |
6 |
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Bankers : |
v Bank of India, Main Branch, CK 58/54, Ash Bhairo Chowk Varanasi, Uttar Pradesh Telefax. 91-542-2392952 v HDFC Bank Limited Rathyatra Branch, Varanasi Uttar Pradesh |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Atul Choudhary and Company Chartered Accountant |
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Associates/Subsidiaries : |
v Silk Universe Varanasi, Uttar Pradesh v Shafi Sarees v Liza Prints Address: n-15/104, Sudampur, Varanasi – 221010, Uttar Pradesh |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 Millions (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs. 2.500 Millions (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover (estimated) |
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6.000 |
5.000 |
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance
Chart
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Parameter |
Details |
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Statutory Approvals |
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Legal Status of Firm |
Sole Proprietory Concern |
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Income Tax Registration |
AEHPB3638Q |
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VAT/ TIN Registration |
N.A. |
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Import Export Code |
1502001039 |
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Name of Bank |
Bank of India |
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Current Account Number |
690020/00101928 |
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Account Since |
2003 |
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Credibility Factors |
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IndiaMART Client Since |
2004 |
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Years of Establishment |
2003 |
Trade References:
- Sandhya
Sarees
- Namaste
- Gini Mini Design
Studio Private Limited
It is in trade terms with:
v Silk Universe
Contact Person: Mr. Ishrat Belal, Mr. A. R. Qaisar
Address: B-19/17A-2D, Ansar Nagar, Deoriabeer Bhelupur, Varanasi – 221 010, Uttar Pradesh, India
v Shafi Sarees
Contact Person: Mr. Tarique Waheed, Mr. Khalid Sayeed
Address: B-19/17A-2D, Ansar Nagar, Deoriabeer Bhelupur, Varanasi – 221 010, Uttar Pradesh, India
v Liza Prints
Contact Person: Mr. Mohammed Hazi Suhail
Address: B-19/17A-2D, Ansar Nagar, Deoriabeer Bhelupur, Varanasi – 221 010, Uttar Pradesh, India
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.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 |
NO |
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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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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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