MIRA INFORM REPORT

 

 

Report Date :

23.07.2011

 

IDENTIFICATION DETAILS

 

Name :

KAVYA  ENTERPRISE  LTD.

 

 

Registered Office :

C/o CBS Pacific Ltd.

8A, Kam Chung Commercial Building, 19-21 Hennessy Road, Wanchai

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

26.05.2008

 

 

Com. Reg. No.:

39351880

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

--

 

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 :

Usually Correct

 

 

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)

Hong Kong

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name 

 

KAVYA  ENTERPRISE  LTD.

 

 

ADDRESS

 

Registered Office:-

c/o CBS Pacific Ltd.

8A, Kam Chung Commercial Building, 19-21 Hennessy Road, Wanchai, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER 

 

39351880

 

 

COMPANY FILE NUMBER 

 

1241256

 

 

DATE OF INCORPORATION

 

26th May, 2008.

 

 

CAPITAL

 

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

 

Issued Share Capital: HK$10,000.00

 

 

SHAREHOLDER  

(As per registry dated 26-05-2011)

 

Name

 

No. of shares

Sandeep TEWATIA

 

10,000

=====

 

DIRECTOR    

(As per registry dated 26-05-2011)

 

Name

(Nationality)

 

Address

Sandeep TEWATIA

Flat I, 7/F., Po Wing Building, 69 Lee Garden Street, Causeway Bay, Hong Kong.

 

 

SECRETARY

(As per registry dated 26-05-2011)

 

Name

Address

Co. No.

CBS Pacific Ltd.

8A, Kam Chung Commercial Building, 19-21 Hennessey Road, Wanchai, Hong Kong.

0582043

 

 

GENERAL

 

Kavya Enterprises Ltd. was incorporated on 26th May, 2008 as a private limited liability company under the Hong Kong Companies Ordinance.

The subject does not have its own operating office.  Its registered office is in a commercial service firm located at 8A, Kam Chung Commercial Building, 19-21 Hennessey Road, Wanchai, Hong Kong known as CBS Pacific Ltd. [CBS] which is handling its correspondences and documents.  CBS is also the corporate secretary of the subject.

The subject has no employees in Hong Kong. According to the Companies Registry of Hong Kong, the subject has issued 10,000 ordinary shares of HK$1.00 each which are wholly-owned by Mr. Sandeep Tewatia who is an Indian.  He is also the only director of the subject.  He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.  He is also the only director of the subject.

Formerly the shares were held by Mr. Ajay Kumar who is also an Indian.  He transferred all his share to Tewatia on 14th June, 2010.

The subject’s lines of business are unknown since the secretarial firm declined to divulge any information about it.

The director of the subject cannot be reached although he is in Hong Kong.

To our knowledge, Tewatia is the Program Manager of HCL Hong Kong SAR Ltd. and HCL Technologies Ltd.  These two firms belong to the HCL Group of companies [HCL].

Graduated from University of Delhi, India, Tewatia also graduated from City University of Hong Kong in 2006 majoring Computer Science.  He has got an MSc degree from the City University of Hong Kong.

HCL is a leading global IT services company, working with clients in the areas that impact and redefine the core of their businesses.  HCL has had its offices in 26 countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare. Tewatia set up the subject is to offer clients with similar services in the field of IT.  It is likely that the subject’s operating office is the Hong Kong residence of Tewatia. The subject has been banking with The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong, since its establishment.

The subject is just a one-man company.  Its history in Hong Kong is over three years and a month.

On the whole, since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on L/C basis.

 

COURT CASES:            None per our.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.37

UK Pound

1

Rs.72.34

Euro

1

Rs.63.87

 

 

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.