MIRA INFORM REPORT

 

 

Report Date :

15.07.2011

 

IDENTIFICATION DETAILS

 

Name :

ALL INDIA FOODS PTY LTD

 

 

Registered Office :

2 ZAMIA Street Robertson, Queensland 4109

 

 

Country :

Australia

 

 

Date of Incorporation :

26.06.2001

 

 

Legal Form :

Proprietary Limited Company

 

 

Line of Business :

Manufacture and wholesale of food products including flour and spices.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Australia

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

REGISTERED NAME      

 

ALL INDIA FOODS PTY LTD

ACN: 097 270 141

ABN: 75 097 270 141

 

ADDRESS GIVEN                    

31 Balaclava St

WOOLLOOBGABBA, QLD 4102

 

CORPORATE SEARCH

 

Incorporation Date:                     26 Jun 2001

 

Incorporation State:                    Victoria

 

Registered Office                       2 ZAMIA Street

                                                ROBERTSON, Queensland 4109 Australia

 

Number of Shares Issued:           100

 

Paid Capital:                              100

 

Shareholders                             SURISHT PAUL LASHAND

Number of Shares: 25

 

SURINDER LASHAND

Number of Shares: 25

 

SUDESH LASHAND

Number of Shares: 25

 

SAROJ LASHAND

Number of Shares: 25

 

Directors                                   LASHAND, SURESHT PAUL

Appointment Date: 26 Jun 2001

Date of Birth: 04 Sep 1950

Gender: Male

Address: 16 Redland Cl Kuraby QLD 4112

Resident Overseas: No

 

LASHAND, SUDESH

Appointment Date: 26 Jun 2001

Date of Birth: 13 Sep 1957

Gender: Female

Address: 45 AZALEA Crescent CALAMVALE, Queensland 4116 Australia

Resident Overseas: No

 

LASHAN, SAROJ

Appointment Date: 26 Jun 2001

Date of Birth: 10 Feb 1958

Gender: Unknown

Address: 35 KENSINGTON Way SUNNYBANK HILLS, Queensland 4109 Australia

Resident Overseas: No

 

LASHAND, SURINDER

Appointment Date: 26 Jun 2001

Date of Birth: 23 May 1949

Gender: Male

Address: 35 KENSINGTON Way SUNNYBANK HILLS, Queensland 4109 Australia

Resident Overseas: No

 

Secretary                                  SURINDER LASHAND

                                                Appointment Date: 26 Jun 2001

 

 

BUSINESS STRUCTURE

 

TRADING ADDRESS                 31 Balaclava St

                                                WOOLLOOBGABBA, QLD 4102

 

TELEPHONE                             (617) 3890 0855

 

MOBILE                                    0402 454 907 (Rajin Lashand)

 

FACSIMILE                               (617) 3391 4473

 

WAREHOUSE                         TINGALPA, QLD

 

BANK                                       WESTPAC BANKING CORPORATION   

                                               

EMPLOYEES                            10

           

 

BACKGROUND

 

The subject was incorporated in Victoria on 26 June 2001 under the current style.

 

The subject was formed to incorporate a family partnership that was originally established in 1990.

 

                                                                       


OPERATIONS

 

The subject operates in the manufacture and wholesale of food products including flour and spices.

 

The subject also imports, wholesales and retails food commodities and spices from around the world, with most carrying the LASHAND brand name 

 

Activities are conducted from premises located at the above listed trading address.

 

 

ADVERSE

                                               

A search of the failed to trace any litigation listed against the subject at that date.

 

 

FINANCES

 

The subject is not required to lodge financial statements with the Australian Securities and Investments Commission.

 

During the current interview conducted with Manager, Rajin Lashand, he advised that for the last financial year ended 30 June 2011 the subject traded profitably and recorded revenue of just under $10,000,000.

 

For the year ended 30 June 2008 the subject traded profitably and recorded revenue of $6,000,000.

 

Current assets include stock on hand of $500,000 and receivables of $300,000.

 

The subject maintains an overdraft facility with the Westpac Bank. This facility is presently not in use as operations are able to be funded through the cashflows of the company.

 

In regards to current liabilities creditors are advised to be paid in full.

 

In regards to asset backing, the subject is noted to own the premises located at the above listed trading address. A property search can be conducted at your request to confirm ownership.

 

Enquiries in trade quarters revealed satisfaction from suppliers contacted in dealing with the subject on a credit basis.

 

 

TRADE SURVEY

 

A trade survey on the subject traced the following accounts:

 

·         (Ravi Imports) Purchases average $20,000 per month on 30 day terms. Payment is met in 30 days and the account is considered satisfactory, having been known since 2003.

 

·         (Nimco Foods) Nominated supplier failed to respond to correspondence despite chasing.

 

 

SUMMARY

 

The subject was incorporated in Victoria on 26 June 2001 under the current style.

 

The subject was formed to incorporate a family partnership that was originally established in 1990.

                       

For the last financial year ended 30 June 2011 the subject traded profitably and recorded revenue of just under $10,000,000.

 

The subject maintains an overdraft facility with the Westpac Bank. This facility is presently not in use as operations are able to be funded through the cashflows of the company.

 

In regards to asset backing, the subject is noted to own the premises located at the above listed trading address.

 

Enquiries in trade quarters revealed satisfaction from suppliers contacted in dealing with the subject on a credit basis.

                                   

                                               

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.53

UK Pound

1

Rs.71.80

Euro

1

Rs.63.15

 

 

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 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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.