MIRA
INFORM REPORT
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Report Date : |
24.10.2008 |
IDENTIFICATION DETAILS
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Name : |
VENUS FREIGHT LOGISTICS |
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Registered Office : |
276, Rajouri Apartments, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
1993 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Services providers of International Logistics and Freight Forwarding. |
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 : |
- |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern having satisfactory track.
Proprietor is resorted as experienced and respectable businessman. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The concern can be considered normal for business dealings at usual trade
terms and conditions. |
INFORMATION PARTED BY
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Name : |
Mr. Satinder |
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Designation : |
Accountant |
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Date : |
23.10.2008 |
LOCATIONS
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Registered Office : |
276, Rajouri Apartments, Rajouri Garden, New Delhi – 110064, India |
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Tel. No.: |
91-11-25136262 / 25132666 / 25136522 / 25147522 |
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Mobile No. |
91-9313536262 / 9310536262 |
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Fax No.: |
91-11-25132666 |
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E-Mail : |
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Area : |
1200sq.ft. |
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Location : |
Owned |
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Head Office : |
Inland Container Depot, Cabin No. 2 and 3, Rewari – 123401, Haryana,
India |
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Tel. No.: |
91-124-224485 |
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In Charge: |
Mr. Virender |
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Mobile No.: |
91-9315425802 |
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Area : |
500sq.ft. |
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Location : |
Rented |
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Branch Office : |
Inland Container Depot, Patli Cabin No. 3, ICD Complex, Patoudi Road,
Gurgaon, Haryama, India |
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Mobile No.: |
91-9354225466 |
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In Charge: |
Mr. Subhash |
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Area : |
500sq.ft. |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Subhash C. Kumar |
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Designation : |
Proprietor |
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Address : |
276, Rajouri Apartments, Rajouri Garden, New Delhi – 110064 |
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Date of Birth/Age : |
57 Years |
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Qualification : |
B.sc, LLB, CCS and D (IIFT) |
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Experience : |
27 Years |
BUSINESS DETAILS
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Line of Business : |
Services Providers of International Logistics and Freight Forwarding |
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Services: |
·
Local Transportation ·
Custom Clearance ·
Freight Forwarding ·
Warehousing ·
Door Delivery at Destination ·
Value Added Services ·
Shipping Consultancy ·
Negotiating Ocean Freight with the Shipping Lines
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Exports : |
For Customers |
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Countries : |
World wide |
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Imports : |
For Customers |
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Countries : |
World wide |
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Terms : |
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Selling : |
Cash |
GENERAL INFORMATION
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Customers : |
·
Premium Stones Private Limited ·
Stone Crafts India Private Limited ·
Janex International, Rajouri Garden |
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No. of Employees : |
21 |
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Bankers : |
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Canara Bank, Mayapuri Branch ·
Axis Bank |
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Facilities : |
O/D Rs.1.000 million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sushil Gulathi Chartered Accountants |
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Address : |
New Delhi |
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Associates/Subsidiaries : |
Sigma Cargo Services |
CAPITAL STRUCTURE
(As on 31.03.2007)
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Capital Investment : |
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Owned : |
Rs.0.400 million |
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Borrowed : |
-- |
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Total : |
Rs.0.400 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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30.000 |
Expected Sales (2008-09) : Rs.40.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References
·
Hindustan Gum and Chemicals Limited
·
Stone Golf India Private Limited
·
Premium Stones Private Limited
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] 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.49.79 |
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UK Pound |
1 |
Rs.81.27 |
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Euro |
1 |
Rs.63.91 |
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 |
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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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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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