MIRA
INFORM REPORT
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Report Date : |
03.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
COUTURE ORACLE |
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Registered Office : |
476 L, Model Town, Ludhiana – 141 002, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2007 |
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PAN No.: [Permanent
Account No.] |
AKEPK6511A |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Ladies Fashion Garments. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Concern |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a new concern and yet to established track. It’s payments are usually correct. The concern can be considered for small business dealings on safe and
secured trade terms and conditions, only. |
INFORMATION PARTED
BY
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Name : |
Ms. Jasminum |
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Designation : |
Proprietor (Chief Executive Officer) |
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Contact No.: |
91-9915580476 |
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Date : |
27.10.2008 |
LOCATIONS
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Registered Office/ Factory : |
476 L, Model Town, Ludhiana – 141 002, Punjab, India |
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Tel. No.: |
91-161-2771905/ 2772983 |
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Mobile No.: |
91-9915580476 |
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Fax No.: |
91-161-2537024 |
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E-Mail : |
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Website : |
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Area : |
800 gaj |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Ms. Jasminum |
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Designation : |
Proprietor (Chief Executive Officer) |
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Date of Birth/Age : |
35 Years |
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Qualification : |
Post Graduation from Punjab University (Two Years Course from NIFD) |
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Experience : |
10 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Ladies Fashion Garments. |
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Products : |
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Exports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS
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Capacity to
increased production by : |
200% |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
10 Designer+ Job Worker |
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Bankers : |
CITI Bank, Ludhiana, Punjab, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Not Appointed |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.0.050 Million |
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Borrowed : |
-- |
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Total : |
Rs.0.050 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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0.500 |
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Profit/Loss for the year |
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12% |
Expected Sales (2008-09): Rs.5.000 Millions
LOCAL AGENCY FURTHER
INFORMATION
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Additional Requirement of Indiamart for Trust-Seal |
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PAN / TAN : AKEPK6511A |
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Bank Name : CITI Bank |
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Bank Address : Ludhiana Branch |
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Bank A/c. No.: 0010469163 |
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Account Since : 1 Years |
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In case of any affiliations / memberships / certifications : |
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Name : Apparel Export Promotion Council |
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Type : Membership Certificate |
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Expiry Date : Renew is done every year |
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Registration No: 53770 |
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Note: Despite of
repeated phone call to Ms. Jasminum, she is not providing IEC No.
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Parameters |
Details |
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Existence Verification |
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Name |
Couture Oracle |
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Address |
476 L, Model Town, Ludhiana – 141 002, Punjab, India |
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Phone/ Mobile Numbers |
91-161-2771905/ 2772983 |
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Statutory Approvals |
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Legal Status of Firm |
Sole Proprietory Concern |
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Income Tax Registration |
AKEPK6511A |
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Name of Bank |
CITI Bank, Ludhiana, Punjab, India |
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Credibility Factors |
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Years of Establishment |
2007 |
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Turn Over |
Rs.0.500 Million |
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Turn Over Year |
2008 |
As Per Websites
Profile
Evolving fashion trends.
Italy and France have always been the countries that have created fashion
designers. When they think of fashion, these are the two countries that come to
ones mind. India, in the past 60 years, has not been left too far behind and
have come a long way starting from agriculture to manufacturing and now in the
World of Fashion, and also other industries such as IT, Entertainment, etc. And
from the example of four years of self motivated designing, and the reception
from the most elite crowds, another name that has created a niche in this World
of Fashion is that of 'Jasminum'.
The beginning...
Jasminum finished her post graduation from Punjab University India in 2004. She
was through with her fashion school before that. Having spent two years at National
Institute of Fashion Design, and getting enough formal training that she
wanted, it was here that she came out with her first contemporary Egyptian
collection 'Pyramids' in 2000 for which she was given the best designer's
award. After that, in the very next year, came out 'Revival', which was a
compilation of the amazing evening gowns in satins and silks.
Beginning of a new concept...
She was slowly driven into finding something that would keep her occupied. It was
at a very young age that she started designing outfits for herself. Slowly she
began designing outfits professionally thus bringing her into the
business with her one of its kind fashion studio ‘Subject’.
This proved to be a huge success for Jasminum, both in her Homeland as well as
in the International market of fashion with her collection being sold out very
quickly. Success came instantly to this budding designer as on entering the
Global market.
She brought her unique line of collection of ladies fashion apparel, which
comprised of bridal wear, salwar kameez, churidar kurta, kurtis (tunic), sarees
and accessories. She has great design talent and is a young woman designing for
other young women. Let them present to you the young dynamic creator who has
the vision for tomorrow. A very confident, mature, likeable that's Jasminum for
you.
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.49.25 |
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UK Pound |
1 |
Rs.80.36 |
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Euro |
1 |
Rs.62.84 |
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 |
3 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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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 |
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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19 |
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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