MIRA
INFORM REPORT
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Report Date : |
18.08.2011 |
IDENTIFICATION DETAILS
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Name : |
SMART SHAINE |
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Registered
Office : |
418, |
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Country : |
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Year of
Establishment : |
2010 |
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Capital
Investment: |
Not Available |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
: |
Manufacturer and Exporter of
Vegetables, Fruits Spices Seasonings, Rice, Engineering Goods |
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No. of Employees
: |
Not Available |
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 Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new partnership concern and yet to establish
itself gradually. Business is active. Payments are unknown. The concern can be considered for business dealings on a safe and
secured trade terms and condition. |
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
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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. James |
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Designation : |
Partner |
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Contact No.: |
91-9444009057 |
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Date : |
11.08.2011 |
LOCATIONS
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Registered Office : |
418, |
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Tel. No.: |
91-44-26861920 |
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Mobile No.: |
91 – 9444009057 (Mr. James) |
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E-Mail : |
PARTNERS
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Name : |
Mr. James |
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Designation : |
Partner |
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Name : |
Mrs. Elizebeth James |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of
Vegetables, Fruits Spices Seasonings, Rice, Engineering Goods |
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Products : |
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Exports : |
Proposing to export not done as yet |
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Terms : |
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Selling : |
L/C |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
Tamilnadu Mercantile Bank, Anna Nagar Branch, Chennai - 600040, |
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Banking
Relations : |
-- |
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
-- |
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Total : |
Not Available |
FINANCIAL DATA
[all figures are
in Rupees Millions]
New Business
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
LOCAL AGENCY FURTHER INFORMATION
Profile:
This is a partnership firm started in the year 2010 by Mr James and is
wife Mrs Elizebeth James. Now, the firm has just been started and, no sales has
taken place till now. They are still in the process of getting the mandatory
registrations and other things that should be put in place before operations.
They have obtained the Import Export code number recently. They have not
applied for The VAT as they do not propose any local sales. Till date they have
not executed any order either export or local. They have registered themselves
on Tradeindia the business portal of
A new firm that has just started and waiting for some good orders. There
is no way to assess the financial strength of the firm. So caution advised in
all financial dealings with them. Orders may be placed against LCs or documents
may be negotiated through bank.
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.45.37 |
|
|
1 |
Rs.74.56 |
|
Euro |
1 |
Rs.65.34 |
RATING EXPLANATIONS
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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 |
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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 |
|
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 |
|
- |
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.