MIRA
INFORM REPORT
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Report Date : |
29.08.2011 |
IDENTIFICATION DETAILS
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Name : |
SYNTHESIS EXPORTS |
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Registered
Office : |
No. 5, 1st Main Road, Kamadenu Nagar, Tiruverkkadu, Chennai
– 600077, Tamilnadu |
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Country : |
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Year of
Establishment : |
2011 |
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Capital
Investment / Paid-up Capital : |
-- |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Manufacturer and exporter of Readymade garments, mens wear, ladies wear, kids wear, skirts, shorts, pants, trousers, ladies top, ladies dresses, children dresses, saree, cotton saree, synthetic saree, voil saree, t-shirt, polo shirts, chudithar, denim shirts. |
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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 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 establish itself
gradually. Business is active. Payment terms are not known. The concern can be considered for business dealings on a safe and 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. S Saravanan |
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Designation : |
Proprietor |
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Contact No.: |
91-9443535274 |
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Date : |
12.08.2011 |
LOCATIONS
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Registered Office/Factory : |
No. 5, 1st Main Road, Kamadenu Nagar, Tiruverkkadu, Chennai
– 600077, Tamilnadu, India |
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Mobile No.: |
91-9443535274 (Mr. S Saravanan) |
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E-Mail : |
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Website : |
SOLE PROPRIETOR
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Name : |
Mr. S Saravanan |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and exporter of Readymade garments, mens
wear, ladies wear, kids wear, skirts, shorts, pants, trousers, ladies top,
ladies dresses, children dresses, saree, cotton saree, synthetic saree, voil
saree, t-shirt, polo shirts, chudithar, denim shirts. |
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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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No. of Employees : |
Not Available |
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Bankers : |
Indusind Bank, Thiruverkadu - 600077, Chennai, India |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
NEW COMPANY
FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW COMPANY
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 proprietorship firm started in the year 2011 by Mr. S Saravanan. Now, the firm is just opened shop and putting its infrastructure in place. Not a single order has been executed. They have opened this firm for the exports of ready-made garments. They do not propose to do any local sales. They have just obtained the Import export code from the Government. They are now concentrating on sending samples and turning these inquiries into orders. Everything is in the fluid state as far as the firm is concerned. Mr. Saravanan is looking after sales and administration himself. He has some contact overseas and hopes to work out something through them. Their bankers are Indusind Bank, Thiruverkadu, Chennai 600077.
There is no way to assess the financial strength of the firm. There is no turnover declared so we cannot say anything about their sales volume. Caution advised in all financial transactions with them. Orders may be placed against LCs or documents may be drawn through their 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.05 |
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|
1 |
Rs.75.19 |
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Euro |
1 |
Rs.66.47 |
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 |
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- |
NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.