MIRA
INFORM REPORT
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Report Date : |
08.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
STAR IMPEX |
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Registered
Office : |
16/4, Bombay Cotton Mill Estate, Datta Lad Road, Kala Chowki,
Mumbai-400033, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Year of
Establishment : |
2006 |
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Capital
Investment/ Paid-up Capital: |
Rs. 2.500 millions |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Trader and Importer of Embroidery Machine. |
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No. of
Employees: |
26 (Approximately) (Office 6 + Contract Basis Worker 20) |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 10000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established proprietory concern having moderate track.
There appears to be some dip in the turnover of the concern, it is due to less
orders. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The concern can be considered for business dealings with some
cautions. |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Jaydeep Parmar |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9820451561 |
|
Date : |
03.12.2011 |
LOCATIONS
|
Registered Office : |
16/4, Bombay Cotton Mill Estate, Datta Ram Road, Kala Chowki, Mumbai-400033,
Maharashtra, India |
|
Tel. No.: |
91-22-23716551 |
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Mobile No.: |
91-9820451651 (Mr. Jaydeep Parmar) |
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Fax No.: |
91-22-23746555 |
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E-Mail : |
SOLE PROPRIETOR
|
Name : |
Mr. Jaydeep Parmar |
|
Designation : |
Proprietor |
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Date of Birth/Age : |
35 years |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Embroidery Machine. |
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|
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Products : |
·
Flat Embroidery Machine ·
Sequin Embroidery Machine ·
Chenille Embroidery Machine ·
Taping Coiling Embroidery Machine ·
Mixed Head Embroidery Machine ·
Easy Looping Device ·
Easy Coiling Device ·
Sequin Device ·
Laser Cutting Attachments. |
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Imports : |
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Products : |
Embroidery Machine |
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Countries : |
China |
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Terms : |
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Selling : |
Cash / Credit (30 days) |
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Purchasing : |
L/C / Cash / Credit (30 days) |
GENERAL INFORMATION
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Customers : |
·
Retailers ·
End Users ·
Manufacturer |
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|
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No. of Employees : |
26 (Approximately) (Office 6 + Contract Basis Worker 20) |
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Bankers : |
ICICI Bank, Lamington Road Branch |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. B. G. Kariya Chartered Accountant |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
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Capital Investment : |
|
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Owned : |
Rs.2.500 millions |
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Borrowed : |
-- |
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Total : |
Rs.2.500 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sales Turnover (Approximately) |
5.000 |
15.000 |
12.500 |
Expected Sales (2011-2012) : Above Rs.7.500 millions.
The above information has been parted by Mr. Jaydeep Parmar.
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
LOCAL AGENCY FURTHER INFORMATION
|
Check List by
Info Agents |
Available in
reports |
|
1) Year of
Establishment |
Yes |
|
2) Locality of
the Firm |
Yes |
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3) Constitution
of the Firm |
Yes |
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4) Premises
Details |
Yes |
|
5) Type of
Business |
Yes |
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6) Line of
Business |
Yes |
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7) Promoter’s
Background |
--------- |
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8) No. of
Employees |
Yes |
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9) Name of
person contacted |
Yes |
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10) Designation of
contact person |
Yes |
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11) Turnover of
firm of last three years |
Yes |
|
12)
Profitability for last three years |
No |
|
13) Reasons for
variations <> 20% |
Yes |
|
14) Estimation
for coming financial year |
Yes |
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15) Capital in
the business |
Yes |
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16) Details of
Sister concern |
--------- |
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17) Major
Suppliers |
No |
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18) Major
Customers |
Yes |
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19) Payments
terms |
Yes |
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20) Export /
Import details (if applicable) |
Yes |
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21) Market
Information |
--------- |
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22) Litigation that
the firm / promoter involved |
--------- |
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23) Banking
Details |
Yes |
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24) Banking
facility Details |
-------- |
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25) Conduct of
the banking account |
--------- |
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26) Buyer visit
details |
--------- |
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27) Financials,
if provided |
No |
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28) Incorporation
details, if applicable |
---------- |
|
29) Last account
field at ROC |
---------- |
|
30) Major
Shareholders, if available |
---------- |
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.51.44 |
|
|
1 |
Rs.80.37 |
|
Euro |
1 |
Rs.69.12 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.