MIRA INFORM REPORT

 

 

Report Date :

22.10.2008

 

IDENTIFICATION DETAILS

 

Name :

AAKRITI CRAFTS PRIVATE LIMITED.

 

 

Registered Office :

E-850, 4th Phase Boranada, Jodhpur 342009 Rajasthan.

 

 

Country :

India

 

 

Date of incorporation :

13.09.2007

 

 

Com. Reg. No.:

024993

 

 

CIN No.:

[Company Identification No.]

U74994RJ2007PTC024993

 

 

IEC No.:

1308010435

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Wooden Furnitures

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

---

 

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is a new company and yet to establish track.

 

No payment records are known.

 

Initially, The company can be considered for any business dealings on safe and secured trade terms and conditions.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Ummeba Ram

Designation :

Director

Contact No.:

91-9314258618

Date :

18.10.2008

 

 

LOCATIONS

 

Registered Office :

E-850, 4th Phase Boranada, Jodhpur, Rajasthan 342009, India.

Mobile No.:

91-9314258618 (Mr. Ummeba Ram)

E-Mail :

aakriticrafts@yahoo.co.in

Website :

www.aakriticrafts.com

Area :

1200 sq fts

Location :

Owned

 

 

Factory  :

F-359, 4th Phase Boronada, Jodhpur 342001, Rajasthan, India.

Fax No.:

91-22-2931281529

Area :

4000 sq. meter

Location :

Owned

 

 

DIRECTORS

 

Name :

Mr. Ummeba Ram

Designation :

Director

Date of Birth/Age :

32 Years

Qualification :

Graduate

 

 

Name :

Mrs. Pushpa

Designation :

Director

Address :

A 108, Mansarovar, Pal Road, Jodhpur, Rajasthan 342001, India.

Date of Birth/Age :

15.07.1983

Qualification :

Graduate

Date of Appointment :

20.06.2008

 

 

Name :

Mr. Ajay Kumar Chaudhary

Designation :

Director

Address :

302/303, Mansarovar Scheme DPS Pal Road Jodhpur, Rajasthan 342008, India.

Date of Birth/Age :

18.01.1976

 

 

Name :

Mr. Ruchir Choudhary

Designation :

Director

Address :

52 A Golf Course Scheme, Ratanada, Jodhpur 342005, Rajasthan, India.

Date of Birth/Age :

06.11.1980

 

 

Name :

Mr. Prashant Beniwal

Designation :

Director

Address :

13 Section Extn New Power House Road, Jodhpur, Rajasthan 342009, India.

Date of Birth/Age :

07.06.1973

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Wooden Furnitures

 

 

Products :

·         Almirah,

·         Wardrobes

·         Computer tables

·         Chairs

·         Beds

·         Night stands

·         End table

·         Consol table

·         Boxes

·         Trunk

·         Dining tables

·         Coffee tables

·         Cabinets

·         Sideboards

·         Pillars

·         CD drawers

·         Drawer chests

·         Cloth drawers

·         T.V video units

·         Book shelves

·         Writing tables

·         Garden sofa

·         Benches

·         Stools

·         Bar cabinets

·         Planters

·         Lamps

·         Candle stands,

·         Mirror frames,

·         Photo frames. etc.

 

 

Exports :

 

Products :

·         Almirah,

·         Wardrobes

·         Computer tables

·         Chairs

·         Beds

·         Night stands

·         End table

·         Consol table

·         Boxes

·         Trunk

·         Dining tables

·         Coffee tables

·         Cabinets

·         Sideboards

·         Pillars

·         CD drawers

·         Drawer chests

·         Cloth drawers

·         T.V video units

·         Book shelves

·         Writing tables

·         Garden sofa

·         Benches

·         Stools

·         Bar cabinets

·         Planters

·         Lamps

·         Candle stands,

·         Mirror frames,

·         Photo frames. Etc

Countries :

·         European Countries

·         USA

 

 

Terms :

 

Selling :

L/C Advance /TT

 

 

Purchasing :

L/C Advance /TT

 

 

GENERAL INFORMATION

 

Customers :

Wholesalers, Retailers, End Users, OEM’s and Others.

 

 

No. of Employees :

110

 

 

Bankers :

Bank of Baroda,

Rajastan, Jodhpur Branch.

 

 

 

 

 

Banking Relations :

Unknown

 

 

Auditors :

 

Name :

Dhariwal and Company,

Chartered Accountant

Address :

Rajasthan

 

 

Associates/Subsidiaries :

Jodhpur Trading Company,

Address: Boranda Industrial area, Jodhpur, Rajasthan,

Tel No: 91-2931-281529

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

150000

Equity Shares

Rs. 10/- Each

1.500 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

10000

Equity Shares

Rs. 10/- Each

0.100 Million

 

 

 

 

                       

 

[all figures are in Rupees Millions]

 

 

As the subject is a new company, No Financials are yet available.

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Trade References:

 

·         J K Arts and Crafts, Jodhpur.

·         Hanuman handicrafts, Jodhpur.

 

 

                                            Additional Requirement of Indiamart for Trust-Seal

 

 

VAT / TIN : 08472609497

 

IEC Code :1308010435

 

 

 

PAN / TAN : AAHCA2240A

 

 

 

Bank Name : SBBI (State Bank of Bikaner and Jaipur)

 

Bank A/c. No.: 60129621182

 

Account Since : 1 Year

 

 

 

 

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.48.83

UK Pound

1

Rs.85.12

Euro

1

Rs.65.86

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

1~10

--

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

 

23

 

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