MIRA
INFORM REPORT
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Report Date : |
11.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
EKJAN ASSOCIATES |
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Registered Office : |
91, S.J.P. Road, Bangalore 560001, Karnataka. |
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Country : |
India. |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment: |
1991 |
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PAN No.: [Permanent
Account No.] |
AAPPBO1715 |
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Legal Form : |
Sole Proprietary Concern |
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Line of Business : |
Distributors of Fountains, Fountain Nozzles, Under Water Light and
Fountain Accessories. |
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. |
Small |
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Maximum Credit Limit : |
USD 5000 |
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Status : |
Small Concern |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern in its field. Trade relations are
fair. Scale of activity is limited. No Complaints have been heard from market
sources. The concern can be considered for small to mediocre business dealings. |
LOCATIONS
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Registered Office : |
91, S.J.P. Road, Bangalore 560001, Karnataka, India. |
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Tel. No.: |
91-80-22274152 |
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Mobile No.: |
91-9845055272 |
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Fax No.: |
91-80-2218787 |
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E-Mail : |
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Area : |
2000 sq ft |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Aliasgar Waseef |
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Designation : |
Proprietor |
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Date of Birth/Age : |
40 Years |
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Qualification : |
Graduate |
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Experience : |
20 Years |
BUSINESS DETAILS
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Line of Business : |
Distributors of Fountains, Fountain Nozzles, Under Water Light and
Fountain Accessories. |
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Products : |
Fountain Nozzles ·
Aeration Jet ·
Aluminum Finger ·
Brass Cluster ·
Brass Foaming ·
Brass Tulip ·
Brass Fan ·
Brass Foam Submersible Lights ·
Sub Light ·
Dolphin Light ·
Aquarium Light ·
Swimming Pool Lights ·
Sequencer Portable Fountains ·
Fountain Kit with Light ·
Fountain kit without Light ·
Fogger Led Changing Light |
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Exports : |
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Countries : |
Subjects export Indirectly to, ·
Japan ·
Australia ·
Singapore ·
Malaysia |
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Terms : |
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Selling : |
Against Payment |
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Purchasing : |
Credit (30 to 60 days) |
GENERAL
INFORMATION
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Suppliers : |
Acqua Scape Engineers, Bangalore, Karnataka. |
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Customers : |
·
Srishti Landscapes, Bangalore, Karnataka. ·
Garden Arts, Bangalore, Karnataka. ·
Gopalan Associates, Bangalore, Karnataka |
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No. of Employees : |
4 |
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Bankers : |
Lakshmi Vilas Bank, City Market, Bangalore 560002, Karnataka. |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Mr. Hyder Ali Jeevagi, Chartered Accountant. |
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Address : |
Bangalore, Karnataka. |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 Million |
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Borrowed : |
--- |
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Total : |
Rs. 1.000 Million |
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 |
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3.000 |
2.500 |
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Profit/Loss for the year |
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About 12% |
About 12% |
Average Value of Inventories At Any Time: Rs.0.500 Million
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Detail |
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Existence
Verification |
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Name |
EKJAN ASSOCIATES |
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Address |
91, S.J.P. Road, Bangalore 560001,
Karnataka, India. |
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Phone Numbers |
91-80-22274152 |
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Mobile Number |
91-9845055272 |
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Electricity Bill |
WILG5128 |
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Statutory
Approvals |
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Legal Status of
Firm |
Proprietorship Concern |
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Income Tax Registration
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AAPPBO1715 |
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VAT / TIN
Registration |
29620138187 (Claimed by management but
can't be verified online) |
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Name of Bank |
Lakshmi Vilas Bank |
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Current account
Number |
0164351000003020 |
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Account Since |
1991 |
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Creditability Factors
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India Mart
Client Since |
About 3 Years |
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Years of
Establishment |
1991 |
Website Details Attached:
Concern Profile:
Subject have established
itself as leaders in offering a complete range of fountain accessories. They
are engaged in supplying a wide line of exclusive and handy fountain kits for
indoors as well as outdoors.
Their complete ranges of products are handy, easy to fit and maintenance free.
They ensure to supply durable collection of fountain and related accessories,
that are so manufactured to last long in all weather conditions.
Their ranges of products are ideal for two feet to six feet diameter of pond,
requiring a minimum depth of six inches to fourteen inches. They also supply premium quality accessories
such as fixed as well as rotating colorful underwater lights to add glory to
the ambiance.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.32 |
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UK Pound |
1 |
Rs.74.20 |
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Euro |
1 |
Rs.60.73 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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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 |
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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27 |
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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