MIRA INFORM REPORT

 

 

Report Date :

11.08.2011

 

IDENTIFICATION DETAILS

 

Name :

VASANTH AND CO

 

 

Registered Office :

No. 18, Railway Border Road, Saidapet, Chennai-600015, Tamilnadu, India

 

 

Country :

India

 

 

Year of Establishment :

1978

 

 

Capital Investment/ Paid-up Capital:

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CHEV02226A

 

 

Legal Form :

Sole Proprietory Concern 

 

 

Line of Business :

Trader of Electronics and Home Appliances.

 

 

No. of Employees:

Approximately 400 (In Office)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (27)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established proprietory concern having moderate track records. The accountant Mr. Jairaj provided to us a few general information, but denied to disclose any financial details. Trade relations are reported as 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)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

INFORMATION PARTED BY (General Details)

 

Name :

Mr. Jairaj

Designation :

Accountant

Contact No.:

91-9840396091

Date :

12.08.2011

 

 

LOCATIONS

 

Registered Office :

No. 18, Railway Border Road, Saidapet, Chennai-600015, Tamilnadu, India

Tel. No.:

91-44-24339839

Mobile No.:

91-9840033352 (Mr. Vijay Kumar)

Fax No.:

91-44-24334707

E-Mail :

micvasanth@yahoo.com

Area :

3500 sq.ft

Location :

Owned

 

 

Showrooms :

Vasanth and Co,

Shanmugam Road, Tambaram, Chennai-600045

Tel No. 91-23266249

 

Vasanth and Co,

8, Main Road, Pallavaram

Tel No. 91-22641069

 

Vasanth and Co

15, South Usman Road, T Nagar, Chennai-600017

Tel No. 91-24345437

 

Vasanth and Co

108, Kutcheri Road, Mylapore, Chennai-600004

Tel No. 91-24616792

 

Vasanth and Co

20, Arcot Road, Kodambakkam, Chennai – 600024

Tel No. 91-24800709

 

Vasanth and Co

35, Arcot Road, Chennai 600026

Tel No. : 91-24800709

 

Vasanth and Co

4, Padmanabha Nagar, Adyar, Chennai 600020

Tel No. 91-24915825

 

Vasanth and Co

11, Padmanatha Nagar, Adyar, Chennai 600020

Tel. No. : 91-24915828

 

Vasanth and Co

113, Kutchery Road, Mylapore, Chennai 600004,

Tel No. 91-24980148

 

Vasanth and Co

T H Road, Washermanpet, Chennai – 600021

Tel No. 91 25952861

 

Vasanth and Co

874, MTH Road, Padi, Chennai- 600050,

Tel No. 91 26243593

 

Vasanth and Co

191, Puraswallkam High Road, Puraswalkkam, Chennai 600007

Tel No. 91 26422059

 

Vasanth and Co

67 Valluvar Kottam Salai, Chennai 600034,

Tel No. 91 28216253

 

Vasanth and Co

37/1, North Usman Road, T Nagar, Chennai

Tel No. 91 283440312

 

Vasanth and Co

45, AN Usman Road, Chennai 600017

Tel. No. : 91-24344767

 

Vasanth and Co

Poonamalee High Road, Kielpauk, Chennai 600010

 

Vasanth and Co

21,22 Hanmugalingam Road, Tambaram, Chennai 600045

Tel. No. : 91-22266249

 

Vasanth and Co

63, MTH Road, Padi, Chennai 600050

Tel No. : 91-26243593

 

Vasanth and Co

67, Mannarsamy Koil, Royapuram, Chennai 600013

Tel. No. : 91-25952435

 

Vasanth and Co

1033 TH Road, Washermanpet, Chennai 600021

Tel. No. : 91-25952861

 

Vasanth and Co

13/1, Nelson Manikam Road, Cholaimedu, Chennai 600094

Te. No. : 91-23745823

 

Vasanth and Co

7, Arcot Road, Purur, Chennai 600116

Tel. No. : 91-23860770

 

 

Apart from this they have show rooms in other suburbs and in almost every south Indian Town like:

v      Salem

v      Coimbatore

v      Vellore

v      Madurai

v      Kanchipuram

v      Tiruvelveli

v      Tuticorin

v      Nagercoil

v      Virudhunagar

v      Pollachi

v      Bangalore

 

 

Branches :

48 Branches All over India and 17 Branches in Chennai

 

Located at:

 

  • Kiolpauk
  • T Nagar
  • Mylapore
  • Nanganallur
  • Porur
  • Adyar
  • T Nagar
  • Choolaimedu
  • Washermanpet
  • Royapuram
  • Saidapet
  • Padi
  • Velachery
  • Tambaram
  • T Nagar
  • Adyar

 

 

SOLE PROPRIETOR

 

Name :

Mr. H Vasanthakumar

Designation :

Proprietor

Date of Birth/ Age:

61 Years

Qualification:

MA

Other Information:

(He is the Tamilnadu Congress committee general secretary. He Stood for the Mayor of Madras election and lost to Mr M K Stalin, son of Mr K Karunanidhi. He has been with the congress party in India for over 25 years and was a staunch supporter of the late Mrs Indira Gandhi and now Mrs Sonia Gandhi. In fac his whole family has sworn allegiance to the ruling party in India. He is deeply involved in the party work in South India and has a very big clout at the central level in Delhi.)

 

 

KEY EXECUTIVES

 

Name :

Mr. Jairaj

Designation :

Accountant

 

 

BUSINESS DETAILS

 

Line of Business :

Trader of Electronics and Home Appliances.

 

 

Agencies Held :
  • LG
  • Samsung
  • Philips
  • Whirlpool

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

Customers :
  • Wholesaler
  • Retailers
  • OEM’s

 

 

No. of Employees :

Approximately 400 (In Office)

 

 

Bankers :

Canara Bank, Saidapet Branch, Chennai

Indian Bank, J Nagar Branch, Chennai

 

 

 

Banking Relations :

--

 

 

Auditors :

Not Divulged

 

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Not Divulged

Borrowed :

Not Divulged

Total :

Not Divulged

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

NOT DIVULGED

 

Note : Sole Proprietory and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

 

LOCAL AGENCY FURTHER INFORMATION

 

Trade References:

 

  • LG
  • Samsung
  • Philips
  • Whirlpool

 

AS PER WEBSITE DETAILS

 

PROFILE:

 

Subject is a premium chain dealer of consumer electronics, home appliances and mobile phones having base in Chennai, India. Vasanth and Co was started in 1978 and currently has 40 + showrooms in almost every town in Tamil Nadu. Their base expands to Pondicherry and Bangalore. The company’s turnover is reported to be over 500 crore Indian Rupee (INR) or 100 Million USD in 2007. Vasanth and Co sells wide range of products that includes mobile phones, refrigerators, air conditioners, micro wave ovens, washing machines and many house hold appliances. They are dealers of world class manufacturers like LG, Samsung, Sony, Sharp, Philips, Whirl Pool etc.,

 

Subject was established by honorable Indian entrepreneur and Tamil Nadu Government Member of Legislative Assembly (MLA) Mr. H. VasanthaKumar. He is a famous personality in the Indian political and entrepreneur space. Mr. Vasanthakumar was born in Kanyakumari District in Tamil Nadu, India. In 2006, he wrote a book titled Vetrikodi Kattu which was released by Indian Famous Actor Mr. Rajinikanth. He also runs a popular television channel - Vasanth TV.


About Vasanthandcoinfo.com

Vasanthandcoinfo.com has no relationship with company Vasanth and  Co Private Limited. They are information providers who offer information about company Vasanth and Co Private Limited, and help people in finding authentic data in internet.

 

Products

 

Subject has wide range of products. The product base ranges from small house hold appliances to higher end electronics and branded items. Vasanth and co are the dealers of various worldwide brand companies like LG, Samsung, Sony, Philips, Sharp, Whirlpool and much more. Products list extends to washing machine, television(tv), fridge, mobile phones, dvd players, plasma tv, air conditioners, microwave etc.,

 

The best part of shopping at vasanth and co is the price. The price that Vasanth and co gives to its customers is the lowest in the industry. This price is so cheap that even middle class and lower middle class people prefer to shop at Vasanth and co. At the same time, upper class and upper middle class people shop at Vasanth and Co seeing the quality and customer satisfaction.

 

The Request to Customers - Please do not call them for sales

They often get calls from customers enquiring whether this is Vasanth and Co stores. Please be aware that vasanthandcoinfo.com and company Vasanth and Co has no connection with each other at present time. Although they expect a tie up in future. 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.45.27

UK Pound

1

Rs.73.34

Euro

1

Rs.64.58

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

2

--PROFITABILIRY

1~10

2

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

2

--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

 

27

 

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 & 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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.