MIRA
INFORM REPORT
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Report Date : |
08.08.2011 |
IDENTIFICATION DETAILS
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Name : |
ROWEENA EXPORTS |
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Registered
Office : |
No-22/42, Ramaswamy Street, Ayanavaram, Chennai-600028, Tamil Nadu |
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Country : |
India |
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Year of
Establishment : |
2011 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Manufacturer and Exporter of Spices and Seasonings. |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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- |
NB |
New Business |
- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new proprietory concern and yet to complete its one full
year of operations. Payments are unknown. The concern can be considered for business dealings on a safe 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
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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
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Name : |
Mr. Shanmuga Sundaram |
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Designation : |
Proprietor |
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Contact No.: |
91-9789988408 |
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Date : |
06.08.2011 |
LOCATIONS
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Registered Office : |
No-22/42, Ramaswamy Street, Ayanavaram, Chennai-600028, Tamil Nadu, India |
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Mobile No.: |
91-9789988408 (Mr. Shanmuga Sundaram) |
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E-Mail : |
SOLE PROPRIETOR
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Name : |
Mr. Shanmuga Sundaram |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Spices and Seasonings. |
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Exports : |
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Products : |
·
Spices and Seasonings |
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Countries : |
·
Yet to received order |
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Terms : |
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Selling : |
L/C |
GENERAL INFORMATION
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Customers : |
·
Wholesalers ·
Retailers |
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Bankers : |
·
Indian Bank, Villupuram Branch, India |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
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]
New Concern.
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
LOCAL AGENCY FURTHER INFORMATION
History
This is a
proprietorship firm started in 2011 by Mr. Shanmuga Sundaram. Now, the firm was
started to do exports of spices and seasonings. It is just exactly one month
since the firm was started. Mr. Sundaram resides in Villupuram. For corporate
reasons he has registered his firm in a, Madras address. He has obtained the
Import export code number. Till date he has not got any export orders on his
own. Right now he has an inquiry for ginger to be exported. He has to supply
the ginger to a party in Chennai who in turn will export the same. He has
decided to apply for the TIN number so that he can do local supplies. Right now
he is sourcing the materials from in and around Villupuram and sending the
goods to Chennai for third party export. After some time he hopes to export on
his own. There is no question of any turnover as the firm is not even a year
old and is still trying to get orders. His bankers are Indian Bank, Villupuram
Branch.
Caution advised in
all financial dealings with them as there is no way to assess the financial
strength of the firm. The firm is very new and is yet to stabilize on it’s own.
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 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. 44.80 |
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|
1 |
Rs. 72.85 |
|
Euro |
1 |
Rs. 63.11 |
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 |
|
- |
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.