MIRA INFORM REPORT
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Report Date : |
15.04.2011 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL APPAREL SOLUTIONS LTD. |
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Registered Office : |
c/o Success Business Centre Room 2401A, 24/F., Park-In Commercial Centre, |
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Country : |
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Date of Incorporation : |
04.10.2002 |
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Com. Reg. No.: |
33032472 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Sweaters, other knitted products, etc. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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A2 |
A2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Name
and address
GLOBAL APPAREL
SOLUTIONS LTD.
ADDRESS:
c/o Success Business Centre
Room 2401A, 24/F., Park-In Commercial Centre,
PHONE: 2782 8118
FAX: 2782 8697
MANAGEMENT
Managing Director: Mr. Gopal
Krishan Sethi
SUMMARY
Incorporated on: 4th October, 2002.
Organization: Private
Limited Company.
Capital: Nominal: HK$100,000.00
Issued: HK$100,000.00
Business Category: Garment Trader.
Employees: Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd.,
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
c/o Success Business Centre
Room 2401A, 24/F., Park-In Commercial Centre,
Holding Company:-
TCNS Ltd.,
Associated Companies:-
Global Apparel Solutions Ltd.,
T.C.N.S. International Pvt. Ltd.,
BUSINESS
REGISTRATION NUMBER
33032472
COMPANY
FILE NUMBER
0816426
MANAGEMENT
Managing Director: Mr. Gopal
Krishan Sethi
CAPITAL
Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of HK$1.00
each)
Issued Share Capital: HK$100,000.00
SHAREHOLDERS
(As per registry dated 04-10-2010)
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Name |
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No. of shares |
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Lodestar Management Ltd., |
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1 |
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TCNS Ltd. 3 Community Centre, Saket, New Delhi-110017, |
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99,999 |
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––––––– |
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Total: |
100,000 ====== |
DIRECTORS
(As per registry dated 04-10-2010)
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Name (Nationality) |
Address |
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Neeraj Kishore RASTOGI |
Plot No. 16-B, Road No. 126, |
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Gopal Krishan SETHI |
B-10/7184, Vasant Kunj, |
|
Amberin Ltd. |
Room 601, 6/F., |
SECRETARY
(As per registry dated 04-10-2010)
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Name |
Address |
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Lodestar Secretaries Ltd. |
13/F., Wah Kit Commercial Centre, |
0113023 |
HISTORY
The subject was incorporated on 4th October, 2002 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: Sweaters,
other knitted products, etc.
Employees: Nil.
Commodities Imported:
Markets: Asia,
Europe, the Middle East, Africa,
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: As
per contracted.
FINANCIAL
INFORMATION
Nominal Share Capital: HK$100,000.00 (Divided into 100,000 shares of
HK$1.00 each)
Issued Share Capital: HK$100,000.00
Mortgage or Charge:-
Date of Security Over
Deposits: 23-12-2004
Amount: Amount secured –
(i) all monies in any currency owing by the Company to the chargee at any time,
actually or contingently, in any capacity, alone or jointly with any other
person; (ii) interest on such monies, to the date on which the chargee receives
payment, at the rates payable by the Company or which would have been payable
but for any circumstance which restricts payment and (iii) all expenses of the
chargee in perfecting or enforcing the charge
Property: A deposit with
chargee in the amount of US$443,000.00 and all monies under deposit No.
636-256851, whatever currency it may subsequently be denominated in, any
renewal of such deposit and the interest thereon together with any further
monies in any deposit account with the chargee at any of its offices
Mortgagee: The Hongkong &
Shanghai Banking Corp. Ltd.,
Profit or Loss: Keeping a balance account in
Condition: Business
is not active in
Facilities: Making
fairly active use of general banking facilities.
Payment:
Met trade commitments as
required.
Commercial Morality: Satisfactory.
Banker:
The Hongkong &
Shanghai Banking Corp. Ltd.,
Standing:
Small.
GENERAL
Having issued 100,000 ordinary shares of HK$1.00 each, Global Apparel
Solutions Ltd. is wholly owned by TCNS Ltd. [TCNS] which is an India‑based
firm.
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Room 2401A, 24/F., Park-In Commercial Centre, 56 Dundas
Street, Mongkok, Kowloon, Hong Kong known as Success Business Centre which is
handling its correspondences and documents.
The subject has no employees in
TCNS is a garment trader which was set up in 1982. It has had an associated factory in
The subject is also a garment trader.
TCNS has had manufacturing units in
It is likely that TCNS deals with foreign parties under the name of the
subject and let foreign firms correspond with the subject’s registered address
in
The subject’s business in
Since the subject does not have its own operating office and has no
employees in
COURT CASES: None
per our records.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.48 |
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1 |
Rs.72.37 |
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Euro |
1 |
Rs.64.42 |
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 |
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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-- |
NB |
New Business |
-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.