MIRA
INFORM REPORT
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Report Date : |
06.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
AAR FASHIONS |
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Registered Office : |
D-145, Sector 10, Noida-201301, 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 : |
2003 |
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Legal Form : |
Sole Proprietory Concern. |
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Line of Business : |
Manufacturer and Exporter of Fashion Accessories and Goods like Scarves,
Shawl and Fashionable Jewellery. |
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 4000 |
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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 concern having satisfactory track.
Business shows downward trend. Trade relations are fair. Payments are
reported as slow but correct. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office/Factory : |
D-145, Sector 10, Noida-201301, Uttar Pradesh, India |
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Tel. No.: |
91-120-4259271 |
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Mobile No.: |
91-9811603445 |
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Fax No.: |
91-120-4259273 |
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E-Mail : |
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Website : |
http://aarfashions.tradeindia.com
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Area : |
12000 sq.fts (Owned) |
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Corporate
Office: |
71-C, Pocket 12, Jasola Vihar, New Delhi-110025, India |
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Tel No.: |
91-11-29940024/ 29813267 |
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Fax No.: |
91-11-46569282 |
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Mobile No.: |
91-9811603445 |
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E Mail: |
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Area: |
800 sq.ft (Owned) |
SOLE PROPRIETOR
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Name : |
Mr. Ranjit Routray |
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Designation : |
Proprietor |
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Date of Birth/Age : |
38 years |
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Qualification : |
Post Graduate |
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Experience : |
18 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Fashion Accessories and Goods like
Scarves, Shawl and Fashionable Jewellery. |
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Products : |
Scarves ·
Cotton Scarves ·
Viscose Scarves ·
Embroidered Scarves ·
Linen Scarves ·
Woolen Scarves ·
Silk Scarves ·
Poluester Scarves Shawls ·
Silk Pashmina Shawls ·
Woolen Jamnavar Shawls ·
Viscose lPashmina/ Jamavar Shawls Bags ·
Coin Bags ·
Evening Bags Other products: ·
Sweaters ·
Pareos ·
Ponchos ·
Mufflers ·
Bandana-cotton and Silk ·
Badges ·
Imitation Jewellery ·
Cushion Covers |
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Exports : |
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Products : |
Scarves, Shawls and Jewellery. |
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Countries : |
·
Germany ·
France ·
Spain ·
Italy ·
South Africa ·
Australia. ·
U.S.A ·
U.K ·
Italy |
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Terms : |
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Selling : |
L/C, Cash and Credit (30 Days) |
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Purchasing : |
L/C, Cash and Credit (30 Days) |
GENERAL
INFORMATION
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Customers : |
Local Customers, End users and Wholesalers |
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No. of Employees : |
20 (Office 3, Factory 17) |
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Bankers : |
Oriental Bank of Commerce Address: M -123, Connaught Place, New Delhi – 110 001, India |
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Facilities: |
The company do not enjoy facility from its bankers |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
GNS and Associates Chartered Accountants |
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Address : |
Sarojini Nagar, New Delhi – 110 001, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.800 Million (Estimated) |
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Borrowed : |
--- |
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Total : |
Rs. 0.800 Million (Estimated) |
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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8.500 |
Expected Sales (2008-09) : Rs. 25.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCE:
· Pelo, Germany
· Ropane SL, Spain
· Into Africa, Captown, South Africa.
WEBSITE DETAILS:
Profile:
Subject specializes in the manufacture and exports of high quality fashion
accessories for the global buyers. They are trusted worldwide for the extensive
range and quality of fashion accessories for women, men and kids. Aar Fashions
is backed by a strong state-of- the-art technology, excellent manufacturing and
processing facility, sound financial backing and large resources that help them
strengthen the quality standards and on time delivery. Aar Fashions also, has a
well-equipped sampling department and makes new designs every day and can
develop new styles as per the idea or specifications. The designer team is
aware of latest fashion trends and incorporate them in their on-going
continuous development. They have a large in house stitching manufacturing
capacity backed by experienced work force with an uncompromising commitment to
quality and service. Quality could be a challenge for most other companies, for
them, it is the strength. And quality doesn't end with products; they continue
the tradition of quality with the services also. Aar Fashion's forte is service
to the clients, uncompromising commitment to quality and delivery at
competitive prices and catering to large and small orders with equal ease. The
mission and driving force is 100 % customer satisfaction in terms of quality,
punctuality and total customer service at competitive prices.
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.47.18 |
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UK Pound |
1 |
Rs.75.05 |
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Euro |
1 |
Rs.60.89 |
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 |
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/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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