MIRA
INFORM REPORT
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Report Date : |
17.01.2011 |
IDENTIFICATION DETAILS
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Name : |
ARVIND ENTERPRISES |
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Registered
Office : |
4/12 Sonal Apartments, Ground Floor, J P Nagar, Goregaon (East),
Mumbai 400063, |
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Country : |
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Date of
Incorporation : |
21.01.1987 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
: |
Trader of Polyester |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established partnership concern having moderate track.
The key executive Mr. Shivram Chaudhary provided to us a few general information
but denied to disclose any financial details, however he confirmed of there
being no much business in Arvind Enterprises since past two years. Payment
terms are unknown. The concern can be considered for business dealings on a 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 (General Details)
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Name : |
Mr. Shivram Chaudhary |
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Designation : |
Key Executive |
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Date : |
15.01.2011 |
LOCATIONS
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Registered Office : |
4/12 Sonal Apartments, Ground Floor, J P Nagar, Goregaon (East),
Mumbai 400063, Maharashtra, |
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Mobile No.: |
91-982003338 (Mr. Ashok Chaudhary) |
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E-Mail : |
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Location : |
Owned |
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Administration Office : |
304, Manish Chambers, 3rd Floor, |
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Tel. No.: |
91-22-26856366 |
PARTNERS
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Name : |
Mr. Arvind Agarwal |
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Designation : |
Partner |
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Name : |
Mrs. Achal P Agarwal |
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Designation : |
Partner |
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Name : |
Mrs. Sunita Shivram Agarwal |
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Designation : |
Partner |
KEY EXECUTIVES
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Name : |
Mr. Shivram Chaudhary |
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Designation : |
Key Executive |
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Name : |
Mr. Ashok Chaudhary |
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Designation : |
Chief Executive Officer |
BUSINESS DETAILS
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Line of Business : |
Trader of Polyester |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
10 Approximately |
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Bankers : |
Not Divulged |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
Not Divulged |
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Sister Concern: |
Chaudhary and Company, Mumbai |
CAPITAL STRUCTURE
Not Divulged
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note:
The key executive Mr. Shivram Chaudhary confirmed that there is no much business in Arvind Enterprises since past two years.
LOCAL AGENCY FURTHER INFORMATION
OBSERVATION POINTS
Company Name: Arvind Enterprises
Address: 4/12 Sonal Apartments, Ground Floor, J P
Nagar, Goregaon (East), Mumbai 400063, Maharashtra,
Location: Easy
Locality: Office
Approximately Market Value of Premises: 700 sq.ft
Area:
Upmarket
Visibility of items: Computers, Fax
No. of Employees seen at Business Premises: 10 approximately
Sister Concern : Chaudhary and Company, Mumbai
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.45.30 |
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1 |
Rs.71.73 |
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Euro |
1 |
Rs.60.40 |
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.