MIRA
INFORM REPORT
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Report Date : |
23.06.2011 |
IDENTIFICATION DETAILS
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Name : |
BLUE |
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Registered
Office : |
8-A, |
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Country : |
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Year of
Establishment : |
2011 |
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Capital
Investment/ Paid-up Capital: |
Rs. 2.000 Millions (Estimated) |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners. |
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Line of Business
: |
Manufacturer of Tiles. |
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No. of
Employees: |
Not Divulged |
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 of operation. Business is active. Payment terms 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. Mahesh D Patel |
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Designation : |
Partner |
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Contact No.: |
91-9879231531 |
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Date : |
21.06.2011 |
LOCATIONS
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Registered Office/ Factory : |
8-A, National Highway, Sartanpar Road, Senso Chokdi, At- Sartanpur To
Wankaner, Rajkot-363641, Gujarat, India |
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Mobile No.: |
91-9879231531 (Mr. Mahed P Patel) |
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E-Mail : |
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Website : |
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Area : |
Owned |
DIRECTORS
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Name : |
Mr. Mahesh D Patel |
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Designation : |
Partner |
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Name : |
Mr. Sailesh Patel |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Tiles. |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. B.B. Kuloriya Chartered Accountant |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.000 Millions (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs. 2.000 Millions (Estimated) |
FINANCIAL DATA
[all figures are in
Rupees Millions]
Expected Sales (2011-2012) : Rs. 10.000 Millions
The above information has been parted by Mr. Mahesh D Patel (Partner)
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE:
PROFILE:
Subject is a nationwide ceramic conglomerate,
headquartered in Gujarat Morbi, with an annual turnover of about 54 million
USD. The Managing director, Mr. MAHESH PANARA along with several entrepreneurs
had a clear vision to incept a successful ceramic tile corporation that would
set new standards for excellence and exquisiteness. What started as small tile
plant and progressed with giant strides as a massive nationwide corporation of
Wall, Floor, Porcelain and Vitrified Tiles achieved within a small span of 17
years. ‘Listening is creating’ is the idea of excellence. They never get tired
of listening to what the customers want because it is the only way to shed old
ideas for the new ones. Listening to them is state of mind, which is
continuously evolving to challenge and push the limits of excellence.
As pioneers in the ceramic industry, they stand committed for...
Listening intently to the people to create excellence through technology to
foster the best products and services that fit rational as well as aesthetical
purpose
Transcending the expectations towards the employees in respect to redefine
their levels of their performance and intelligence with a clear perspective of
‘passion to outclass’
MANAGEMENT TEAM:
Being certified, and authenticated by ISO 9001:
2008 Subject operates with the compliance of highest standards of the leading
multinationals worldwide.
Under the dynamic leadership of Mr MAHESH PANARA, the group comprises of
125 highly qualified experts nationwide that operate with a meticulously
planned structures within the organization. The company management believes
astute leadership from the top with a strong resolve to outclass the
competition while the rest of the things will just fall in place. The strength
of the company are its people and the company strives to create an atmosphere
of positivism and assertiveness that evokes a strong bonding between each
other.
With elite panel of professionals managing the company on different fronts, the
subject grows from strength to strength making its presence felt throughout the
world.
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.44.82 |
|
|
1 |
Rs.72.84 |
|
Euro |
1 |
Rs.64.58 |
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.