MIRA INFORM REPORT
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Report Date : |
01.03.2011 |
IDENTIFICATION DETAILS
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Name : |
SHAN IMPORT EXPORT COMPANY |
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Registered Office : |
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Country : |
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Year of Establishment : |
1999 |
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Com. Reg. No.: |
Not Disclosed |
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Legal Form : |
Proprietorship Concern |
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Line of Business : |
Importer, wholesaler and distributor of Garlic and food items
and also acting as a commission agent |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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b1 |
b1 |
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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
Details)
Name : Mr. Shanmugadas Devananda
Designation : Proprietor
Mobile No. : (00 94 77) 727 3526
Date : 26.02.2011
GENERAL- Basic information at a
glance
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a. |
Name of Subject of
Inquiry |
: |
SHAN IMPORT EXPORT COMPANY |
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b. |
Legal Form & Status |
: |
Proprietorship
(In Operation) |
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c. |
Proprietor |
: |
Shanmugadas Devananda |
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d. |
Primary Line of
Business |
: |
Importers, Distributors & Commission
Agent Importers, Distributors of all Food Items |
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e. |
Place of Business |
: |
# UG – 15, Ground Floor, Tel No.: (00 94 11) 537 7710 Mobile No: (00 94 77) 727
3526 (Mr. Devananda) E mail: sdeva09@yahoo.com |
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f. |
No. of Employees |
: |
Not Disclosed |
COMPANY DETAILS- Registration and Shareholder Details
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a. |
Registration No |
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: |
Not Disclosed |
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b. |
Year of Registration |
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: |
1999 |
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c. |
Registered Office |
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: |
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d. |
Proprietor |
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: |
Shanmugadas
Devananda |
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e. |
Auditors |
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: |
Not Disclosed |
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f. |
Bankers |
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: |
Not Disclosed |
CURRENT INVESTIGATION
The Subject Company SHAN
INPORT EXPORT COMPANY is a
Proprietorship company. The Subject Company is an importer, wholesaler and
distributor of Garlic and food items and also acting as a commission agent.
When we visited to the client given address, No.UG 15, Peoples Park Complex,
Gas work Street,
Mr. Shanmugadas Devananda the proprietor of the
subject company, SHAN INPORT EXPORT COMPANY refused to provide any information such as operational & financial
information or plans for the future of the company. He also stated that there
are so many suppliers and therefore, if they need any information they can
contact him directly and no information could be provided without knowing who
the end user is and reiterated that they can deal any transaction directly with
SHAN INPORT EXPORT COMPANY.
Since the company is a Proprietorship, and is not willing to disclose their
registration (date & number) details, we are not able to obtain
verification from the provincial registrar of companies under whose ambit such
partnerships are registered.
It is clearly indicated the reasons for the Proprietors to refuse information about the company is that they need to know the exact details of the end user of the report, especially when the reasons for the request has been clearly enumerated to them. As such, we are not in a position to make any recommendations whatsoever.
Since no financial
information has been forthcoming from the company, it is not possible to
comment on the merits or otherwise of the company. It should be noted that the
particular industry segment the company is involved is highly competitive and
has tremendous growth potential.
No computerised
data bases exist to make checks whether the partners or the company has any
legal action or lawsuit initiated against any of them but informal (but not
in-depth) checks do not indicate any such cases in the public knowledge.
The subject
company did not provide any trade reference referrals either.
ANALYSIS - Appraisal and Rating of Subject Company
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Rating: |
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Business Scale |
Small |
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Market Situation |
Very Competitive |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.18 |
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|
1 |
Rs.72.79 |
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Euro |
1 |
Rs.62.15 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.