MIRA
INFORM REPORT
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Report Date : |
18.07.2011 |
IDENTIFICATION DETAILS
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Name : |
DEEKAY ELECTRICALS |
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Registered
Office : |
No.5-2-331, Old Trafic Police Station Lane, R. P. Road, Hyderbasti,
Secunderbad-500003, Andhra Pradesh |
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Country : |
India |
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Year of
Establishment : |
2009 |
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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 partner |
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Line of Business
: |
Dealer and Distributor of Electrical Products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (12) |
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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 a partnership concern having moderate track. Mr. Atish
Jumar Jain, Partner provided to us few general information and denied for
financial details. However, trade relations are reported as fair. Business is
active. Payments 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
|
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 INFORMATION)
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Name : |
Mr. Atish Jain |
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Designation : |
Partner |
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Contact No.: |
91-40-66901074 |
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Date : |
16.07.2011 |
LOCATIONS
|
Registered Office : |
No.5-2-331, Old Trafic Police Station Lane, R. P. Road, Hyderbasti,
Secunderbad-500003, Andhra Pradesh, India |
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Tel. No.: |
91-40-66901074 / 75 |
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E-Mail : |
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Website : |
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Area : |
1100 sq. ft. |
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Location : |
Rented |
PARTNERS
|
Name : |
Mr. Arun Kumar |
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Designation : |
Partner |
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Name : |
Mr. Atish Kumar Jain |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Dealer and Distributor of Electrical Products. |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Customers : |
·
Wholesalers ·
Retailers ·
End Users |
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Bankers : |
Not Divulged |
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Banking
Relations : |
-- |
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Auditors : |
Not Divulged |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
-- |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Divulged
The above information has been Declined by Mr. Alish Jain.
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
WEB SITE DETAILS
PROFILE
In a world where electrical products are at the heart
of economic and environmental stakes, we help the people make the most of their
energy. Based on integrity, expertise and commitment, they deliver electrical
products and technical solutions for the sustainable success of their
customers.
With the desire to be a full-service electrical
distributor that provides electrical products and services, they care deeply
for their customers.
Innovative services offered to their customers have made
us to remain one step ahead as the uncontested leader in the market.
Started its inception with Siemens MCB’s in
1996, their ceaseless effort, has made them to become the comprehensive
distributor of Siemens. They have also grown rapidly to become the partner of choice
for leading brands like Polycab, Orbit, Neptune, Epcos, Cable Tray.
In continuance, they have added to the depth of their
expertise and strength, by extending their operation at Hyderabad and
Sriperumbudur, in a new office environment.
Their new ramification, "Lighting Wonders" has made their business to
empower people, by providing an extensive range of lighting products.
They constantly strive for achieving highest standards,
which has led them to an annual turnover of Rs.900 million.
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.44.52 |
|
|
1 |
Rs.71.90 |
|
Euro |
1 |
Rs.62.97 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
-- |
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--CREDIT LINES |
1~10 |
-- |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--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 |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
12 |
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 |
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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 |
|
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.