MIRA
INFORM REPORT
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Report Date : |
04.06.2011 |
IDENTIFICATION DETAILS
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Name : |
BEST HUMAN EXPORT |
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Registered
Office : |
6/5, Ashta Bujan Road, Choolai,Chennai -
600112, Tamil Nadu |
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Country : |
India |
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Year of
Establishment : |
2010 |
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Capital
Investment : |
Not Available |
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Legal Form : |
Sole Proprietory concern |
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Line of Business
: |
Manufacturer and Exporters of Human Hair. |
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No. of Employees
: |
13 |
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 relatively new proprietory concern and yet to established
itself gradually. 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
India |
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. N. Nandakumar |
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Designation : |
Proprietor |
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Contact No.: |
91-9841026116 |
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Date : |
01.06.2011 |
LOCATIONS
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Registered Office/Factory : |
6/5, Ashta Bujan Road, Choolai,Chennai - 600112, Tamil Nadu, India |
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Tel. No.: |
91-44-45126213 |
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Mobile No.: |
91-9841026116 (Mr. N. Nandakumar) |
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Fax No.: |
91-44-45126213 |
SOLE PROPRIETOR
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Name : |
Mr. N. Nandakumar |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporters of Human Hair. |
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Products : |
· Indian Human Hair · Natural White Hair · Remy Machine Weft Hair · Remy Single Drawn Hair · Remy Special Single Drawn Longest Human Hair · Straight Hair · Double Drawn Hair · Natural Hair · Wavy Hair · Colored Hair · Curly Hair · Lace Wigs · Hand Weft Hair · Micro Weft Hair, etc. |
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Exports : |
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Products : |
Human Hair |
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Countries : |
Proporsing
to export to North America |
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Terms : |
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Selling : |
L/C, Credit (30 days) |
GENERAL INFORMATION
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Customers : |
·
Wholesalers ·
Retailers |
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No. of Employees : |
13 (in office 3, 10 in factory) |
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Bankers : |
·
Standard Chartered Bank, Rajaji Salai, Chennai –
600001, Tamilnadu, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M Murugam Chartered Accountants |
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Address : |
Nugambakkam, Chennai 600034, Tamilnadu, India |
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Associates/Subsidiaries : |
Bhawani Enterprises Address - No. 65, New No. 72, Chengal
Varayan Street, Choolai,Chennai -
600112, Tamil Nadu, India Line of Business - Export of human hair |
CAPITAL STRUCTURE
New Concern
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
Concern Profile
This is a proprietorship
firm. The firm was started in 2010. The proprietor is one Mr Narasimhan
Nandakumar. He and his brother N
Govindarajan are already in the business of human hair. Their sister concern Bhawani enterprises was
started in the year 1996. From then on
they are in the business of exporting human hair to all over the world. As recently as 2010 they started Best Human
Hair Export with N Nandakumar as its proprietor. The firm is yet to take off. Though they have been exporting under the
banner of Bhawani enterprises, exports under the new name of Best Human Hair
have just begun. The registered office and
the factory are situated in choolaimedu.
Best Human Hair export caters to the latest trend of hair extensions.
Hair makeovers have become the latest fashion and to do that you need dense
hair that can easily withstand harsh chemicals and good coloring. Best Human Hair offers an exclusive
collection of natural and synthetic hair that finds immense importance in
styling and hair makeovers as per the latest trend. The natural and synthetic hair offered by
them are soft, smooth and silky all that the customer needs. Their hair is best used for hair pieces,
wigs, hair replacements and so on. They
serve both the national and international markets with premium human hair.
Their bankers are Standard
Chartered bank, Rajaji Salai, Chennai 600001.
They claim that their turnover is just 10 lakhs as the new firm is yet
to obtain good orders. Though they have
registered themselves in one of the biggest B2B portals Tradeindia they have
not got many orders thru them. In fact
their sister concern Bhawani Enterprises has got the Tradeindia trust seal too.
There is no way to assess
the financial strength of the firm. Caution advised in all financial
transactions with them. Orders may be
placed against LCs or documents may be negotiated thru bank.
A new firm in an old group that is 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.85 |
|
|
1 |
Rs.73.29 |
|
Euro |
1 |
Rs.64.89 |
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 |
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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.