1. Summary Information
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Country |
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Company Name |
ELECTRONICS |
Principal Name 1 |
Mr. Ajay Arora |
|
Status |
Moderate |
Principal Name 2 |
Mr. Punit Arora |
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|
|
Registration # |
-- |
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Street Address |
B1/5, Block, Super Market Janahpuri, |
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Established Date |
1988 |
SIC Code |
-- |
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Telephone# |
91-11-25513000 / 25513001 |
Business Style 1 |
Distributor |
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Fax # |
-- |
Business Style 2 |
Dealer |
|
Homepage |
-- |
Product Name 1 |
LCD |
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# of employees |
38 |
Product Name 2 |
Plasma TV |
|
Paid up capital |
-- |
Product Name 3 |
Music Systems |
|
Shareholders |
-- |
Banking |
Corporation Bank |
|
Public Limited Corp. |
-- |
Business Period |
22 years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
B |
|
Related
Company -- |
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Relation
-- |
Country
-- |
Company
Name |
-- |
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Note |
- |
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2. Summary
Financial Statement
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Balance Sheet as of |
31.03.2009 |
(Unit: Indian Rs.) |
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Assets |
Liabilities |
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|
Current Assets |
-- |
Current Liabilities |
-- |
|
Inventories |
-- |
Long-term Liabilities |
-- |
|
Fixed Assets |
-- |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
-- |
|
Invest& other Assets |
-- |
Retained Earnings |
-- |
|
|
|
Net Worth |
-- |
|
Total Assets |
-- |
Total Liab. & Equity |
-- |
|
Total Assets (Previous Year) |
-- |
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|
|
P/L Statement as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Sales |
250000000 |
Net Profit |
-- |
|
Sales(Previous yr) |
200000000 |
Net Profit(Prev.yr) |
-- |
MIRA
INFORM REPORT
|
Report Date : |
28.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
ELECTRONICS |
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|
|
|
Registered Office : |
B1/5, Block, Super Market Janahpuri, |
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Country : |
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Financials (as on) : |
31.03.2009 |
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Year of Establishment : |
1988 |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners. |
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Line of Business : |
Distributor and Dealer of LG Electronics. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 32000 |
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|
|
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established partnership concern having moderate track.
The partner Mr. Punit Arora provided to us the general information and denied
to disclose financial details. Trade relations are fair. Business is active.
Payment terms are not known. The concern can be considered for business dealings with some caution. |
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 (GENERAL DETAILS)
|
Name : |
Mr. Punit Arora |
|
Designation : |
Partner |
|
Contact No.: |
91-9810434604 |
|
Date : |
26.04.2011 |
LOCATIONS
|
Registered Office : |
B1/5, Block, Super Market Janahpuri, |
|
Tel. No.: |
91-11-25513000 / 25513001 |
|
E-Mail : |
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|
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Corporate Office : |
A4-38, Pachim Vihar, |
|
Tel. No.: |
91-11-25273483 / 25276483 |
PARTNERS
|
Name : |
Mr. Ajay Arora |
|
Designation : |
Partner (Chief Executive Officer) |
|
Date of Birth/Age : |
40 Years |
|
Experience : |
18 Years |
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|
|
|
Name : |
Mr. Punit Arora |
|
Designation : |
Partner |
|
Date of Birth/Age : |
30 Years |
|
Experience : |
8 Years |
BUSINESS DETAILS
|
Line of Business : |
Distributor and Dealer of LG Electronics. |
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Products : |
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Agencies Held : |
LG Electronics |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
|
Suppliers : |
L G Electronics |
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Customers : |
Distributors |
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No. of Employees : |
38 |
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Bankers : |
Corporation Bank |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2009
|
Capital Investment : |
|
|
Owned : |
Rs.8.000 millions |
|
Borrowed : |
-- |
|
Total : |
Rs.8.000 millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sales Turnover |
Not Divulged |
250.000 |
200.000 |
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|
Profit/Loss for the year |
-- |
10% |
10% |
LOCAL AGENCY FURTHER INFORMATION
Attached Herewith Website
Details:
JHUNJHUNWALA CAPITAL TRUST PLC is engaged in the profession of practicing Chartered Accountants since 17 years and has been serving the corporate world since then.
The firm has a highly skilled, dedicated, motivated and experienced work force who have zeal for work and are committed to client satisfaction by providing quality services in time bound manner and ensure that the services rendered by the firm meet standards of professional excellence.
The firm has a modern working setup in terms of well furnished spacious offices situated in Kalbadevi, Mumbai (Head Office) and Bhiwandi; Thane (Branch Office) supported by latest computers, software and communication facilities.
SERVICES:
With their well experienced and talented team they offer variety of services to firms, companies, institutions, individuals, etc. Their services mainly includes
· AUDITS
· TAX AND BUSINESS ADVISORY SERVICES
· FINANCE AND INVESTMENTS SERVICES
· INSURANCE CONSULTANCY SERVICES
They have robust audit tools, resources and procedures to provide the means for their professional to deliver high quality audit services. In delivering these services they adhere to the highest standards of independence, professional objectivity and technical excellence. Their audit approach is applied consistently, while providing the flexibility to serve the unique circumstances and complexities of their clients. Their audit approach focuses on understanding the clients’ business and control issue from inside to outside. It combines a rigorous risk assessment, diagnostic processes, audit testing procedures as well as a continues assessment of their clients’ service performance.
They offer following auditing services:
Tax Audit
Statutory Audit
Internal Audit
Concurrent Audit
Revenue Audit
Stock Audit etc.
TAX AND BUSINESS ADVISORY SERVICES
In a complex regulatory environment, their tax professionals draw on their technical and industry insight to deliver innovative and leading edge solutions to assist clients in effectively managing business taxation issues. They offer a full portfolio of services addressing state and Central tax related issues for corporate, individuals, HUF, trust, firms, and artificial judicial person. As business enterprises enhance their international footprint, it is imperative for them to efficiently manage a dynamic tax environment. To enable companies to address such challenges posed by a rapidly altering business landscape. Tax and Business Advisory services offer a wide range of innovative solutions aimed at enhancing company’s financial and business performance. Their tax experts work with client’s financial management team in creatively structuring the capital base and business transactions to minimize the client company’s tax exposure.
The Tax Group offers its clients a wide range of Tax Advisory and compliance Services, including
- Tax Planning
- Compliance of Tax Provisions
- Fringe Benefit Tax
- Central Excise Tax
- Service Tax
- VAT
- CENVAT
FINANCE AND INVESTMENTS SERVICES
Finance is the key of any business. In a complex regulatory environment to compete with market situations each businessman required strong financial position. Their team of professionals provides financial services to clients for achieving their goals. They offers following services:
- Consultancy for Initial Public Offer (IPO) and Rights Issue
- Merger and Amalgamation
- Inter Corporate Deposits
- Financial Consultancy
- Preparation of Project Reports and Feasibility Reports
- Working Capital Finance
INSURANCE CONSULTANCY SERVICES
The insurance system is complicated and there are various options and plans, different combinations of premiums and coverage. Also there is no “formula” to work out exactly which plan is perfect. This needs a lot of introspection and a keen knowledge of the system.
Whether it is health insurance or insurance of the valuables, they can assist
you in selecting the right plan. They also help you to minimize insurance
losses, whenever the situation arises.
CMT REPORT (Corruption, Money Laundering and Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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] 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.44.40 |
|
|
1 |
Rs.73.26 |
|
Euro |
1 |
Rs.65.17 |
SCORE and RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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
|
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 |
|
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 and 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 |
|
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.