MIRA INFORM REPORT
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Report Date : |
16.04.2011 |
IDENTIFICATION DETAILS
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Name : |
NEW STAR ENTERPRISES |
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Registered
Office : |
211 T H Road, Second Lane, Old Washermanpet, Chennai
600021, Tamilnadu |
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Country : |
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Year of
Establishment : |
2000 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Trader of Aluminium sheets, coil and sections |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
No Business Activity |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a proprietory concern engaged in trading of Aluminium
Sheets, Coil and Sections. As per available details, the concern has not
engaged in any business since one
year. Payment terms are unknown. Initially, the concern can be considered for business dealings on a
safe and secured trade terms and conditions. |
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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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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 |
INFORMATION PARTED BY
|
Name : |
Mr. Muniyandi |
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Designation : |
Proprietor |
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Contact No.: |
91-9444027581 |
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Date : |
13.04.2011 |
LOCATIONS
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Registered Office : |
211 T H Road, Second Lane, Old washermanpet, Chennai
600021, Tamilnadu, India |
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Tel. No.: |
No land line — however you can leave a message on
91-44-25985649 |
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Mobile No.: |
91-9444027581 — all clients are requested to call him on
the mobile only |
SOLE PROPRIETOR
|
Name : |
Mr. Muniyandi |
|
Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Trader of Aluminium sheets, coil and sections |
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Terms : |
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Selling : |
Credit [30 Days] |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
2 |
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Bankers : |
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Banking
Relations : |
-- |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
Not Available |
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Total : |
-- |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Available
Note : He is not active in business now. So there is
no question of any turnover. However when he was operating in a full fledged way
his turnover was nearly Ten Million INR
LOCAL AGENCY FURTHER INFORMATION
ABOUT CONCERN
This is a proprietorship firm started 10 years before by Mr
Muniyandi. He started the business to deal in Aluminuim Sheet, coils and
sections. He was operating from the address given below. For the past one year
he has shifted operations to his residence. He keeps this address as his
mailing address and contact address, but for that he does not come and sit here
everyday. He has not got a new place or a landline and requests all his clients
to call him on his mobile. He deals Aluminium sheet, coil and sections locally.
He has not exported directly or imported directly. However the clients who may
buy from him may export it. He is not aware of anything like that. In fact for
the past one year he is not active at all. He sources the products only for old
clients and was very much surprised when I told him that there is an inquiry
about him from
Caution advised in all dealings with the party for the following reasons:
1. Is not active in business now
2. Does not have a permanent address
3. The address given below is only his mailing address and he does not visit it daily or sits there for business
4. He tells all his clients to call him on the mobile only
5. There is no way to assess the financial strength of the party at all
6. A individual operated firm acting like a commission agent
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.52 |
|
|
1 |
Rs.72.71 |
|
Euro |
1 |
Rs.64.41 |
RATING EXPLANATIONS
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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 |
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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 |
|
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 |
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 |
|
- |
NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.