MIRA
INFORM REPORT
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Report Date : |
12.07.2011 |
IDENTIFICATION DETAILS
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Name : |
GMR IMPORTS AND EXPORTS |
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Registered
Office : |
No.61 and 62, North Jagannatha Nagar, Villivakkam, Chennai – 600049,
Tamilnadu |
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Country : |
India |
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Date of
Incorporation : |
11.04.2011 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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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 Dry Chilly, Spices, Onion, Red Chitty
Powder, Agro Products, Green Peas, Black Paper, Rice |
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 new Partnership concern and yet to complete its one full
year operation. Business is active. Payments are unknown. 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. Dinesh Babu |
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Designation : |
Partner |
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Contact No.: |
91-9840780181 |
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Date : |
09.07.2011 |
LOCATIONS
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Registered Office : |
No.61 and 62, North Jagannatha Nagar, Villivakkam, Chennai – 600049, Tamilnadu,
India |
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Tel. No.: |
91-44-42165681 |
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Mobile No.: |
91-9840780181 (Mr. Dinesh Babu) |
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Fax No.: |
91-44-42165681 |
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E-Mail : |
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Website : |
PARTNERS
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Name : |
Mr. V. Manikandan Dinesh Babu |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Dry Chilly, Spices, Onion, Red Chitty
Powder, Agro Products, Green Peas, Black Paper, Rice |
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Exports : |
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Products : |
·
Spice ·
Vegetable ·
Onion ·
Rice |
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Terms : |
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Purchasing : |
L/C, Credit (30 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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Bankers : |
Bank of Baroda, Villivakkam Branch, Chennai – 600049, Tamilnadu, India
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Facilities : |
-- |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
-- |
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Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
New Concern
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 on 11.4.2011. The partners are Mr. Diniesh Babu and
Mr. Manikandan. The firm is a baby and yet to crawl, walk and run. The partners
have started this venture with a view of 100% exports of rice, onions, and
chilies. The firm has not even completed the first order. They are now getting
some enquiries through Trade India portal where they have registered and are
hopeful that they can execute their first order shortly. They procure their raw
materials from Erode, Pollachi and other villages in and around Chennai. They
have no local supplies.
Their bankers are
Bank of Baroda. There is no question of any turnover as the firm is only 3
months old and has not executed any order. However they are hoping to do well
this year. There is no way to assess the financial strength of the firm.
Caution advised in all financial dealings with them. Orders may be placed
against LCs or documents may be drawn thru bank.
Apart from Export
activities they are also engaged in Air logistics service and Sea logistics
services. They have the infra structure and the know how to load materials into
containers and look after the shipping for other exporters. There is good
demand for this type of service at the Chennai port and they are hoping to do
well in this area.
A new firm yet to
take off.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs. 44.68 |
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|
1 |
Rs. 70.87 |
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Euro |
1 |
Rs. 62.25 |
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.