MIRA
INFORM REPORT
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Report Date : |
24.11.2008 |
IDENTIFICATION DETAILS
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Name : |
PRANEEL TECHNOLOGIES INC |
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Registered Office : |
39/3, 1st Floor, Shakti Nagar, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2005 |
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PAN No.: [Permanent
Account No.] |
ADZPG9681M |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manpower Consultancy Service and Staffing Services. |
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 7500 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established concern in placement business. It is expected
to face same difficult time due to global slowdown. Its payments are usually
correct and as per commitments. The concern can be considered for normal
business dealings at usual trade terms and conditions. |
INFORMATION PARTED BY
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Name : |
Mr. Neeraj Gupta |
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Designation : |
Proprietor (Chief Executive Officer) |
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Date : |
12.11.2008 |
LOCATIONS
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Registered Office : |
39/3, 1st Floor, Shakti Nagar, |
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Tel. No.: |
91-11- 23841404 |
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Mobile No.: |
91-9310737523 |
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Fax No.: |
91-11- 47013823/ 42351863 |
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E-Mail : |
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Website : |
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Area : |
Office + Residence |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Neeraj Gupta |
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Designation : |
Proprietor (Chief Executive Officer) |
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Address : |
39/3, 1st Floor, Shakti Nagar, |
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Date of Birth/Age : |
32 Years |
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Qualification : |
Graduate |
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Experience : |
10 Years |
KEY EXECUTIVES
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Name : |
Ms. Shruti Gupta |
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Designation : |
Key Executive |
BUSINESS DETAILS
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Line of Business : |
Manpower Consultancy Service and Staffing Services. |
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Services : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
Own Set Up |
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Customers : |
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No. of Employees : |
18 |
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Bankers : |
Vijaya Bank, Kamla Nagar, |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
NA |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs.1.500 Millions |
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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10.000 |
10.000 |
Expected Sales (2008-09) : Rs.15.000 Millions
LOCAL AGENCY FURTHER INFORMATION
Trustseal Acceptance
Chart
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Existence Verification |
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Name |
PRANEEL TECHNOLOGIES INC |
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Address |
39/3, 1st Floor, Shakti Nagar, |
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Phone/ |
91-11- 23841404 |
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Fax Numbers |
91-9310737523/ 42351863 |
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Statutory Approvals |
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Legal Status of Firm |
Proprietoryship Company |
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Income Tax Registration |
ADZPG9681M |
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Service Tax Registration |
ADZPG9681MST001 |
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Name of Bank |
Vijaya Bank, Kamla Nagar, |
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Credibility Factors |
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Years of Establishment |
2005 |
ABOUT US
Since its inception, Praneel with its domain expertise,
enhanced its performance combined with focused insight and innovation and has
gained a reputation of a sound recruiting company, enabling them to attain a
leading position in the industry. Praneel professionally services large-scale
recruitment needs of its clients by its focused and integrated approach ensuing
efficiency and effectiveness; and has built strong brand equity for its quality
and specialised services.
At Praneel, customer satisfaction is the top priority of
every employee and the purpose of every job. Cost- effective ongoing
achievement of customer satisfaction is the foundation of their business.
Excellence is expected in quality and quantity of work performed by every consultant
on every project. They focus on efficiency, flexibility and speed for
competitive advantage enabling their customers success in every phase of
business.
Here are big ways their work focuses on improving their clients' business:
From cutting costs to creating new sources of revenue,
they help their clients develop the Information technology strategies and
processes to make the most of Technological advancements.
With every new day, the quest for acquiring new competencies continues and
enables companies to meet these challenges. Their goal is to create value for
their customers by leveraging their experience, industry knowledge, expertise
and their commitment to quality service.
Thanks to their unflinching commitment to the best interests of the employers
and job seekers, they have built up a reputation for being reliable,
fair-minded and straightforward. Combined with their methodology and work ethic
that helps them get the job done quickly and efficiently, this reputation has
established them at the forefront of their business.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.50.03 |
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1 |
Rs.74.42 |
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Euro |
1 |
Rs.62.71 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
NO |
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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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