MIRA INFORM
REPORT
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Report Date : |
28.04.2011 |
IDENTIFICATION DETAILS
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Name : |
EROS WORLDWIDE FZ LLC |
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Registered Office : |
Building No. 8, 5th
Floor, Suite No. 529, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
01.11.2001 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Provision of communication and media products and services |
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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Maximum Credit Limit : |
US$ 300,000 |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 |
SUMMARY
Company Name : EROS WORLDWIDE FZ LLC
Country of Origin :
Legal Form : Free Zone Company – FZ LLC
Registration Date : 1st November 2001
Trade Licence Number : 30295
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 4
Activities : Provision of communication and media products and services
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 300,000
Person Interviewed : Surinder Sadhani, General Manager
COMPANY NAME
EROS WORLDWIDE FZ
LLC
company ADDRESS
Registered & Physical Address
Building : Building No. 8, 5th
Floor, Suite No. 529
Area :
PO Box : 50212 & 13094
Town :
Country :
Telephone : (971-4) 3902825
Facsimile : (971-4) 3908867
Email : erosdubai@gmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the
KEY PRINCIPALS
Name Position
·
Arjan
Lulla Managing
Director
·
Surinder Sadhani General
Manager
·
Vijay Chand Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st
November 2001
Legal Form :
Free Zone Company – FZ LLC
Trade Licence No. : 30295
(Expires 31/08/2011)
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
·
Eros
International Plc 100%
OPERATIONS
Activities: Engaged in the provision of communication
and media products and services, specialising in Bollywood
entertainment. Subject is engaged in the purchase and sales of
intellectual copy rights and contents of
Indian movies.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 4 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales UAE Dh
27,200,000 UAE Dh
30,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Surinder Sadhani, General Manager
BANKERS
·
National
Bank of
PO Box: 777
Tel: (971-4) 2222241
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
2001, subject is involved in the provision of communication and media products
and services.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.40 |
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1 |
Rs.73.26 |
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Euro |
1 |
Rs.65.17 |
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 |
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.