MIRA
INFORM REPORT
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Report Date : |
10.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
ZEN KNIT FASHION |
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Registered Office : |
No.366, Gandhi Road Anupparpalayam, Tirupur – 641 652, Tamilnadu |
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Country : |
India |
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Year of Establishment : |
2008 |
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Com. Reg. No.: |
912397 |
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IEC No.: |
3207020305 |
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PAN No.: [Permanent
Account No.] |
AMPGS2006J |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Knited Garments for Men, Women and
Children |
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 50000 |
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Status : |
New Concern |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a new concern promoted by Zen Apparels, a well-established
and reputed concern. Trade relations are fair. Payments are reported as usually
made as per commitments. The concern can be considered good for small to mediocre business
dealings. |
LOCATIONS
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Registered/ Head Office/Factory : |
No.366, Gandhi Road, Anupparpalayam, Tirupur – 641 652, Tamilnadu,
India |
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Tel. No.: |
91-421-2256993 |
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Mobile No.: |
91-9843093039 |
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Fax No.: |
91-421-2256814 |
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E-Mail : |
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Area : |
5000 sq ft |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Sundararajan |
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Designation : |
Proprietor |
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Date of Birth/Age : |
35 Years |
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Qualification : |
Graduate |
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Experience : |
15 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Knited Garments for Men, Women and
Children |
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Products : |
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Exports : |
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Countries : |
Netherland, UK and Europe |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
Cash and Cradit (30 days) |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
12 (Office-4, Production-8) |
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Bankers : |
Karur Vysya Bank, Tirupur |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. Ponnusamy Chartered Accountants |
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Address : |
Tirupur |
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Associates/Subsidiaries : |
Zen Apparels, Tirupur |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.10.000 Millions (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs.10.000 Millions (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2009 (Estimated) |
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Sales Turnover |
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50.000 |
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Profit/Loss for the year |
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5.000 |
LOCAL AGENCY
FURTHER INFORMATION
As Per Websites
Zen knit fashion was established in 1990 by Mr. N. Subramanian and has established
itself as a trusted manufacturer and exporter of an exclusive range of garments
that include Mens T-shirts, Hooded Jackets, Mens Polo T-shirts, Ladies Night
Gowns, Mens Pyjama, Bath Robes, Sweat Shirts, Kids Rompers, Ladies Pyjama, Boys
T-shirts and Boxer Shorts etc. With the dedication and experience of Mr. A. S. Sundararajan, (M.D) and Mr. Subramanian They have been able
to take their garment business on the pinnacle. As a private limited company
they are having membership with various organizations like AEPC, Textile
Committee and Tirupur Export Association etc. With the annual turnover of 1.5
crores they are leading their company towards progress.
Raw Material
Quality raw materials selected in proper attention to manufacture their extensive range. Conduct various control tests by their industry experts in processes like CSP of yarn, GSM of fabric, colorfastness, sun light fastness, Azo free and rubbing tests etc. They make their fabric contents in 100% cotton, cotton elaston, cotton poly ,cotton viscose with counts of 20's, 24's, 30's, 34's, 40's and 50's .They mostly sourced yarn from well-known mills like KRP Mill, Shanmuga Mill, Kiwi Mill and others. Extensive range of their fabric structures they make as follows:
- Jersey
- Interlock
- Rib
- Fleece
- French Terry
- Elastan Jersey
Infrastructure
Their company has a
state-of-the-art infrastructure spread across the area of 10000 sq feet. The
unit is equipped with modern machines for faster production to meet the
immediate requirements of their clients. The use of latest technology results
in products that are perfect and known for their fineness. The manufacturing
units have been fitted with technically advanced machinery for printing,
embroidery, cutting, sewing and packaging. In addition they also outsource some
services like knitting, dyeing and compacting.
Along with machine made products they also provide their customer with handmade
manufacturing. All this is done strictly according to the client’s
requirements. Leveraging on high-end machines they are able to manufacture
about 45000 pieces every month. In addition to all this They are planning to
enhance their productivity with 150 knitting machines that are being installed
in out unit by 2008.
Packaging and Warehousing
They understand the
need of packaging and the importance that it plays in the international market.
Hence, all their products are packed to prevent them from getting spoiled
during the transit. They offer their customers bulk and individual packaging
facilities done manually as well as by machines. In addition to this they also
have tie-ups with CandF agents who ensure safe delivery of their products.
Their vast warehouse can hold voluminous supplies of raw fabrics and finished
goods. This helps them in catering to the ever-increasing requirements of the
industry. Their products are kept in different sections that have been made to
segregate each garment type. They ensure that their stocking house is free from
rodents, moth etc. and it is regularly fumigated as well.
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Parameters |
Details |
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Existence Verification |
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Name |
ZEN KNIT FASHION |
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Address |
No.366, Gandhi Road, Anupparpalayam, Tirupur – 641 652, Tamilnadu,
India |
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Phone/ Mobile Numbers |
91-421-2256993 / 91-9843093039 |
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Fax Numbers |
91-421-2256814 |
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Statutory Approvals |
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Legal Status of Firm |
Proprietory Concern |
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Income Tax Registration |
AMPGS2006J |
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Central Sales Tax Registration |
912397 |
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State Sales Tax Registration |
33902389337 |
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Import Export Code |
3207020305 |
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Name of Bank |
Karur Vysya Bank, Tirupur |
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Current Account Number |
12352231197 |
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Account Since |
Since 1 Year |
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Emp PF Reg Number |
In Process |
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Credibility Factors |
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IndiaMART Client Since |
1 Year |
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Trade Affiliations |
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SSI Registration |
Now Applied |
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.48.74 |
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UK Pound |
1 |
Rs.85.19 |
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Euro |
1 |
Rs.66.12 |
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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