MIRA
INFORM REPORT
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Report Date : |
27.10.2008 |
IDENTIFICATION DETAILS
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Name : |
SRI BHAIRAV INDUSTRIES |
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Registered Office : |
Unit No. 7, Shreeji Industrial Estate, Behind Blue Chip Industrial
Estate, Sativali Road, Vasai (East), Thane – 401 208, Maharashtra. |
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Country : |
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Year of Establishment : |
1996 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Exporter and Supplier of Fabrics, Elastic Shoelace and Garment
Accessories. |
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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Status : |
Small Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject seems to be a relatively small concern in its field. The management
declined to part with any details on the ground that Mr. Naresh Mehar of your
company has asked them not to part any details. No further details could be
made available. The concern can be considered for any business dealings on fully safe
and secured terms only. |
LOCATIONS
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Registered Office/Factory : |
Unit No. 7, Shreeji Industrial Estate, Behind Blue Chip Industrial
Estate, Sativali Road, Vasai (East), Thane – 401 208, Maharashtra, India. |
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Tel. No.: |
91-250-6524747 / 5624747 |
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Mobile No.: |
91-9820056449 (Mr.Kamlesh Semlani) |
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Fax No.: |
91-250-3208221 |
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E-Mail : |
SOLE PROPRIETOR
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Name : |
Mr.Kamlesh Semlani |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Exporter and Supplier of Fabrics, Elastic Shoelace and Garment
Accessories |
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Products : |
v
Garments Accessories v
Shoes and Footwear Accessories v
Paper Luggage Bags Accessories v
Rainwear Accessories v
Trims and Accessories v
Ropes and Twines v
Furniture Accessories v
Made-Ups |
GENERAL INFORMATION
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Bankers : |
Not Available |
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Banking Relations : |
- |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Not Available
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Available
LOCAL AGENCY FURTHER INFORMATION
Concern Profile:
Incepted in the year 1996, they are one of the best and most quality conscious concern, reliability being their forte. Their product range consists of Elastics, Plains Tapes, Laces, and elastic cord. They are constantly working in the direction to maintain a high level of customer confidence. The tremendous growth in production with continuous improvement in quality and technology can be attributed to the constant support of customers.
They have been catering to allover
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.49.95 |
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1 |
Rs.79.56 |
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Euro |
1 |
Rs.63.65 |
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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