MIRA
INFORM REPORT
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Report Date : |
07.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
CLASSIC MARBLE IMPEX PRIVATE LIMITED |
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Registered Office : |
15, Bhandup Village Road, Next to Ceat Tyres, Subhash Nagar, Bhandup
[West], Mumbai – 400078, Maharashtra |
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Country : |
India |
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Date of Incorporation : |
28.03.2008 |
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Com. Reg. No.: |
180617 |
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CIN No.: [Company
Identification No.] |
U74999MH2008PTC180617 |
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IEC No.: |
0394030478 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC15880E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Trader of Marble, Granite, Slabs and Tiles |
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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Status : |
New Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject has taken over the running business of erstwhile partnership
concern Classic Marble and Marmo Classic. Directors are reported as experienced, respectable and having
satisfactory track. Trade relations are fair. Business is active. Payments
are reported as usually correct and as per commitments. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Rushin Mehta |
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Designation : |
Manager |
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Contact No.: |
91-9867022560 |
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Date : |
04.10.2008 |
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Name : |
Mr. Venkatesh |
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Designation : |
Export Department |
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Date : |
04.10.2008 |
LOCATIONS
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Registered Office : |
15, Bhandup Village Road, Next to Ceat Tyres, Subhash Nagar, Bhandup [West],
Mumbai – 400078, Maharashtra, India |
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Tel. No.: |
91-22-25666614 / 25666615 |
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Mobile No.: |
91-9867022560 |
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Fax No.: |
91-22-25666613 |
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E-Mail : |
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Website : |
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Area : |
100000 sq. ft. |
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Location : |
Owned |
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Factory : |
S. No.
269/1/1/1/1/2, Village Athal, P.O. Silvassa – 396230, U.T. of Dadra &
Nagar Haveli |
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Tel. No.: |
91-260-650092/93 |
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Fax No.: |
91-260-650091 |
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Area : |
Owned |
DIRECTOR
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Name : |
Mr. Subodh Shah |
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Designation : |
Director |
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Address : |
701, Sankalp, 7th Floor, 18 Walkeshwar Road, Mumbai –
400006, Maharashtra, India |
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Date of Birth/Age : |
14.03.1972 |
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Name : |
Mr. Mafatlal P. Shah |
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Designation : |
Director |
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Address : |
18/7, Sankalp Building, Walkeshwar Road, Mumbai – 400007, Maharashtra,
India |
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Date of Birth/Age : |
61 Years |
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Experience : |
35 Years |
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Name : |
Mr. K. M. Swamy |
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Designation : |
Director |
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Address : |
Flat No.502, 5th Floor, Poonam Darshan B- Wing, Poonam
Nagar, Mahakali Caves Road, Andheri (West), Mumbai – 400093, Maharashtra,
India |
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Date of Birth/Age : |
01.06.1961 |
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Experience : |
20 Years |
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Name : |
Mr. Jayesh P. Shah |
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Designation : |
Director |
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Address : |
Ashok Samrat Building, 4th Floor, Walkeshwar, Mumbai –
400007, Maharashtra, India |
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Date of Birth/Age : |
45 Years |
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Experience : |
15 Years |
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Name : |
Mr. Amit M. Shah |
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Designation : |
Director |
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Address : |
701, Sankalp, 7th Floor, 18 Walkeshwar Road, Mumbai –
400006, Maharashtra, India |
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Date of Birth/Age : |
29.05.1973 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
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No. of Shares |
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Mafatlal P. Shah |
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643 |
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Popatlal P. Shah |
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643 |
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Subodh P. Shah |
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3000 |
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Amit M. Shah |
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3000 |
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Mukesh P Shah |
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400 |
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Dinesh P. Shah |
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300 |
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Jayesh P. Shah |
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300 |
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Madaswamy Karuppaswamy |
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1200 |
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Ramakrishna Swamy |
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514 |
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Total |
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10000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Trader of Marble, Granite, Slabs and Tiles |
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Products : |
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Brand Names : |
“CLASSIC” |
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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 |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS
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Particulars |
Installed
Capacity |
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Marble Slabs / Tiles |
300000 sq. ft. |
GENERAL
INFORMATION
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Customers : |
o
End Users o
Retailers
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No. of Employees : |
225 |
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Bankers : |
Zaveri Bazar Branch, Mumbai – 400002, Maharashtra, India
Dadar Branch, Mumbai, Maharashtra, India
90, M G Road, Fort, Mumbai – 400001, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Ø
Marmo Classic Sr. No. 289/1/1/1/2, Village Athal, Silvasa, India Manufacturing and Trading in Marble Slabs / Tiles. Ø Classic Laneesh 15 Bhandup Village Road, Subhash Nagar, Mumbai-400078, Maharashtra, India Trading in Laminated Wooden |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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Not Available |
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FINANCIAL DATA
[all figures are in Rupees Millions]
New Company
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCE:
- Reliance
Group
- Hiranandani
Construction
- Iindustriops
Limited
FORM 8:
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Corporate
identity number of the company |
U74999MH2008PTC180617 |
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Name of the
company |
CLASSIC MARBLE IMPEX PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
15, Bhandup Village Road, Next to Ceat Tyres, Subhash Nagar, Bhandup
[West], Mumbai – 400078, Maharashtra, India |
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This form is for |
Creation of Charge |
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Type of charge |
Book Debts Movable Property Floating Charge |
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Particular of
charge holder |
Standard Chartered Bank 90, M G Road, Fort, Mumbai – 400001, Maharashtra, India |
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Nature of
instrument creating charge |
Unattested
Memorandum of Hypothecation |
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Date of instrument
Creating the charge |
12.08.2008 |
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Amount secured by
the charge |
Rs.150.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: Letter of Credit/
Payment Undertaking Facility/ Invoice Financing/ WCDL/ Short Term Loan/ OD
Facilities. Interests/
Commission – As agreed by and with the Bank from time to time. Terms of
repayment: As agreed by and
with the Bank from time to time. Margin: As applicable if
any. Extent and
operation of the charge: The bank is
having first Pari Passu charge on current assets of the company |
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Particulars of
the property charged |
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Particulars of
the present modification |
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AS PER WEBSITE
PROFILE
Subject it all began with personal experience. Back in 1994,
as customers, partner the proprietors decided they would have nothing less than
Italian Marble for their home. What was on offer locally left a lot to be
desired. In order to ensure authenticity of marble, explore new designs and
even in cost reduction, they visited Italy personally. And for the first time
realized the potential the industry holds.
There and then, Subject was conceptualised. In just 10 years
the Marble industry began to take notice. As the sales & operations grew
from every year, from a small yard of 1000 sq. ft holding 10000-15000 sq. ft of
marble in 1994, the company now boasts of a massive stockyard of 60,000 sq. ft.
area with a capacity to stock 800000 –1,000000 sq. ft. at any given point of
time. The stocking capacity has multiplied tenfold. The company’s fierce
commitment to quality and customer satisfaction has to bourne fruit.
Subject is a market share of more than 15% in the Italian
Marble Industry. Their list of clients consists of the who’s who among
Corporate & Hi net worth individuals. Company has achieved this in such a
short time due to its unmatched Range consisting of over 150 varieties, choice
of colour, state-of-the-art technology for processing, Skilled & trained
labour for finer workmanship and its competent management with sound technical
knowledge on the product & the trade.
Further with the technical expertise of Mr. Swamy, the best-known person in the
trade since lasts 25 years for his technical expertise, the idea was nourished,
nurtured & implemented into reality.
Classic has always set trends & benchmarks, venturing out with new
patterns, exploring new markets, etc. The whole objective is to revolutionise
the industry, boost growth & make it more credible.
The company has so far been successful in attaining
credibility it is looked an a very professional image in an industry that lacks
basic business norms. The company believes in basic business rules of survival
& growth. Hence business ethics are strictly adhered to. Client’s comfort
is of utmost importance. Once comfortable they are dealt by directors
personally. Personal relation & interaction is high. Envied by many in the
trade Classic is the only company, which has achieved corporate status vis-à-vis
suppliers unlike others in the trade.
The growth can also be contributed to employee's
contribution. The management believes that the only tangible assets the company
has are its employees. Further every employee has the freedom to express their
ideas & opinion which are weighed strictly on their merits. The employees
have clearly defined profiles and job responsibilities. Further they have the
freedom to interact with the top management whenever the need arises.
Furthermore since it’s a flat organization the decision making process is not
cumbersome & hence quick. All this has led to the tenfold growth is sales
figures since inception.
The company has so far been successful in attaining
credibility it is looked an a very professional image in an industry that lacks
basic business norms. The company believes in basic business rules of survival
& growth. Hence business ethics are strictly adhered to. Client’s comfort
is of utmost importance. Once comfortable they are dealt by directors
personally. Personal relation & interaction is high. Envied by many in the
trade Classic is the only company, which has achieved corporate status
vis-à-vis suppliers unlike others in the trade.
The growth can also be contributed to employee contribution.
The management believes that the only tangible assets the company has are its
employees. Further every employee has the freedom to express ideas &
opinion which are weighed strictly on their merits. The employees have clearly
defined profiles and job responsibilities. Further they have the freedom to
interact with the top management whenever the need arises. Furthermore since
it’s a flat organization the decision making process is not cumbersome &
hence quick. All this has led to the tenfold growth is sales figures since inception.
MANAGEMENT
CLASSIC MARBLE WAS PROMOTED BY SUBODH SHAH, AMIT SHAH, AND
K. M SWAMI.
Subodh P. Shah
Subodh Shah is a graduate in Computer Science from New York,
U.S.A. His portfolios at Classic Marble includes, Day-to-day operations, Sales
& Marketing & HRD. Some of his attributes which have helped him
contribute to the success of Classic Marble are Excellent Managerial Skills,
Negotiation skills, Advertising Profession etc.
Subodh has a passion for growth and now intends to diversify his base &
extend the line of business.
Amit M. Shah
Amit is
a Commerce graduate and is the Managing Partner of Classic Marble. He has been
associated with Classic Marble since its inception and he is acknowledged as an
expert in assessing the quality. Amit is known for his marketing skills &
technical knowledge on finer aspects of marble trade.
He is also the man responsible for Classic Marble having been ranked as amongst
the top 3 importers in India in the trade. His key profiles are purchase &
corporate sales.
K.M. Swamy
He is a
Science graduate and is the Managing Partner. He has been associated with
Marble for over 25 years. Mr. Swamy is responsible for Classic Marble’s success
At
Classic Marble, it all began with personal experience. Back in 1994, as
customers, partners the proprietors decided they would have nothing less than
Italian Marble for clients home. What was on offer locally left a lot to be
desired. In order to ensure authenticity of marble, explore new designs and
even cut costs, they visited Italy personally. And then for the first time they
realized the potential the industry holds.
There
and then, Classic Marble was conceptualised. Within 10 years the Marble
industry began to take notice. As the sales & operations grew from every
year, from a small yard of 1000 sq. ft holding 10000-15000 sq. ft of marble in
1994, the company now boasts of a massive stockyard of 60,000 sq. ft. area with
a capacity to stock 800000 –1,000000 sq. ft. at any given point of time. The
stocking capacity has multiplied tenfold. The company’s fierce commitment to
quality and customer satisfaction has to bear fruit.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.46 |
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UK Pound |
1 |
Rs.83.37 |
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Euro |
1 |
Rs.64.46 |
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 |
YES |
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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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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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