MIRA INFORM REPORT

 

 

 

Report Date :

16.10.2008

 

IDENTIFICATION DETAILS

 

Name :

NANKI INTERNATIONAL (INDIA)

 

 

Registered Office :

B G -7/116, Paschim Vihar, New Delhi – 110 063

 

 

Country :

India

 

 

Financials (as on) :

31.03.2008

 

 

Date of Incorporation :

January, 2000

 

 

IEC No.:

*0500004323

 

 

PAN No.:

[Permanent Account No.]

AAJPA8885C

 

 

Legal Form :

Sole Proprietory Concern 

 

 

Line of Business :

Manufacturer and Exporter Tractor Parts, Two Wheeler and Three Wheeler Auto Parts.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USd 8000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well – established concern having satisfactory track. 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.

 

 

INFORMATION PARTED BY

 

Name :

Mr. S anand

Designation :

Proprietor cum Chief Executive Officer 

Date :

03.10.2008

 

 

LOCATIONS

 

Registered Office /

Factory :

B G -7/116, Paschim Vihar, New Delhi – 110 063, India

Tel. No.:

91-11-65443999

Mobile No.:

91-9810005932

Fax No.:

91-11-42345055

E-Mail :

info@nankiinternational.com

nkint@indiatimes.com

Website :

www.nankiinternational.com

Area :

1200 Sq.Mtrs

Location :

Owned

 

 

SOLE PROPRIETOR

 

Name :

Mr. S anand

Designation :

Proprietor cum Chief Executive Officer 

Age :

36 years

Experience :

14 years

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter Tractor Parts, Two Wheeler and Three Wheeler Auto Parts.

 

 

Products :

·         Automotive Electrical parts

·         CNG Automotive Parts

·         Suspension And Transmission Parts

·         Automotive Accessories

·         Carburettor and Carburettor Parts

·         Connecting Rod

·         Gears and Shafts

·         CNG kit / CNG Cylinder

·         Chain Shaw Spare

·         Cylinder Head / Cylinder Block

·         Transmission Speed Gears

·         Chain Saw Spare

·         Piston / Piston Ring

·         Crown Pinion

·         auto Parts

·         Gaskets

·         Crank Shaft / Cam Shaft

·         Automotive Spare Parts

 

 

Exports :

 

Countries :

Middle East, Far East and Africa

 

 

Terms :

 

Selling :

LC, Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

No. of Employees :

9

 

 

Bankers :

Punjab and Sind bank, C. Place, New Delhi -110 001, India

 

 

Banking Relations :

Satisfactory

 

 

Associates/Subsidiaries :

NIL

 

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Rs. 1.500 millions

Borrowed :

---

Total :

Rs. 1.500 millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

31.03.2008

31.03.2007

Sales Turnover

 

10.000

9.000

 

 

 

 

Profit/Loss for the year

 

11%

11%

 

Expected Sales (2008-09): Rs.15.000 millions

 

 

LOCAL AGENCY FURTHER INFORMATION

 

TRUSTSEAL ACCEPTANCE CHART

 

Parameters

Detail

 

 

Existence Verification

 

Name

NANKI INTERNATIONAL (INDIA)

Address

B G -7/116, Paschim Vihar, New Delhi – 110 063, India

Phone / Mobile Numbers

91-11-65443999

Fax Number

91-11-42345055

 

 

Statutory Approvals

 

Legal Status of Firm

Proprietorship Firm

Income Tax Registration

AAJPA8885C

VAT / TIN Registration

*7520245491

Import Export Code

*0500004323

Name of Bank

Punjab and Sind Bank, C. Place, New Delhi, India 

 

 

Creditability Factors

 

Years of Establishment

2000

 

 

WEBSITE DETAILS:-

 

Concern Profile:-

Since their inception in January 2000, they have dedicatedly ventured in manufacturing and exporting quality tractor parts, two wheeler and three wheeler auto parts. Their manufacturing unit is equipped with state of the art technology and we make a conscious effort to adhere strictly to the international quality standards regarding their products as well as for the state of machineries.

 

Their concern responsive policy towards customer requirements has enabled them to reach the pinnacle of quality deliverance. With their 100% export percentage of their two wheeler and three wheeler parts, their concern turnover has touched the 10 million limits.

 

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.48.43

UK Pound

1

Rs.84.54

Euro

1

Rs.65.91

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

---

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

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

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

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions