MIRA INFORM
REPORT
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Report Date : |
25.04.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
PIYAL DIAS ENTERPRISES |
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Registered Office : |
# 11, Princess Gate, Colombo-11 |
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Country : |
Sri Lanka |
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Date of Incorporation : |
Not Available |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Proprietor |
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Line of Business : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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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
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
Sri Lanka |
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 |
GENERAL- Basic information at a
glance
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Name of Subject of
Inquiry |
: |
PIYAL
DIAS ENTERPRISES
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|
Legal Form & Status |
: |
Not disclosed |
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Proprietor |
: |
D. K. Vasanji |
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Primary Line of
Business |
: |
Not disclosed |
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Office & Place of Business (as given by the client) |
: |
# 11, Princess Gate, Colombo-11 Sri Lanaka. Mobile Tel. No: (00 94 77) 785 5702/ 755 5708 (D.K.Vasanji) Email: dkvasanji@redissmail.com |
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No. of Employees |
: |
Not disclosed |
COMPANY DETAILS- Registration and Shareholder Details
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Registration No |
: |
- Not Disclosed- |
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Date of Registration |
: |
- Not Disclosed- |
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Registered Office (as given by the client) |
: |
# 11, Princess Gate, Colombo-11 |
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Auditors |
: |
Not
Disclosed |
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Company Secretaries |
: |
Not Applicable |
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Bankers |
: |
Not Disclosed |
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CURRENT INVESTIGATION
·
History.
The client given company “PIYAL DIAS ENTERPRISES” is not registered at the Registrar of
Companies as a “Limited Liability” company.
The
Proprietorship/Partnership companies are being registered at the Provincial
Registrar of Companies and when the owner refuses to provide such details, it
is not possible to obtain such details from the registry.
As such, it can be construed
that the Subject Company “Piyal Dias Enterprises” could either be
a Partnership or a
Proprietorship Company.
·
Location.
Our
investigator visited the client given address and found it was a dwelling house
(in a row of houses) and no any business activity or a sign board could be
seen. The inmates there declined to provide any details other than informing
the business is owned by their brother and provided the contact mobile
telephone number ( +94-77-7855702) for us to contact him. As such we delivered
our company’s formal letter requesting information of the subject company. Up
to date we have not received a reply to this letter.
However, we
contacted the above mobile (+94-77-7855702) and a person named “D.K.
Vasanji”
who claimed to
be the owner of the subject company agreed to provide company details and he
provided the
email address dkvasanji@redissmail.com
for us to email our questionnaire, but
up
to date no
reply received in spite of several reminders.
Further, when the client given telephone Nos. 077- 4106242
was answered by a person named
NILAN, he said that “Piyal Dias
Enterprises” is owned by his friend named “Vasanji” and
he will advise Vasanji to
provide company details. But up to date details not provided.
Finally, when we contacted
Vasanji on 14th; he categorically declined to provide any
details
without knowing the details
of the end user of the report.
The findings of our
investigator is that when he visited the client given address it is located in
a residential area with a
small boutique and no sign/name board found. No any business activity
could be seen at the given
address.
No details were made known to
the neighbours around the place and they could not
provide any information but
their view was that the owner may be running
a business
place elsewhere.
Operational Details:
General
When further inquiries were
made through other sources such as the neighbouring houses we could not gather
any information with regard to the nature of business of the subject company as
they are not aware of any business being carried out at the given address.
Employees
Not disclosed
·
Financial Data
In Sri Lanka, Private Limited Liability/partnership/proprietorship
Companies do
not publish their Accounts for
Public use other than the Shareholders
·
Credit Recommendations
Since the company is not providing sufficient details, it is not possible to comment on the merits or otherwise of the company.
No computerised data bases exist to make checks whether the partners or
the company has any legal action or lawsuit initiated against any of them but
informal (but not in-depth) checks do not indicate any such cases in the public
knowledge.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.30 |
|
|
1 |
Rs.72.92 |
|
Euro |
1 |
Rs.64.69 |
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 |
|
<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.