MIRA
INFORM REPORT
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Report Date : |
28.03.2011 |
IDENTIFICATION DETAILS
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Name : |
ANANDA TRADING COMPANY |
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Registered
Office : |
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Country : |
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Year of
Establishment : |
1977 |
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Financial as on
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31.03.2010 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
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Manufacturer, Trader, Exporter and Importer of Dried herbal raw
materials |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Proposed to be closed |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
As confirmed by the management, the subject firm is going to be closed
shortly in the next 3 or 4 months and all the transactions will be done by
their parent firm R N Rajan and Company. However, trade relations are reported as fair. Business is active.
Payments are reported to be usually correct. Initially, subject can be considered for business dealings on 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. Dayalan [Relative to the partners] |
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Contact No.: |
91-44-25231238 |
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Date : |
25.03.2011 |
LOCATIONS
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Registered Office / Factory : |
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Tel. No.: |
91-44-25231238 I 25231240 /25261135 /25280591 |
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E-Mail : |
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Website : |
PARTNERS
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Name : |
Mrs Arulsakthi |
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Designation : |
Partner |
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Name : |
Mrs Sundarambal |
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Designation : |
Partner |
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Name : |
Mrs Girija |
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Designation : |
Partner |
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Name : |
Mrs Kanchana |
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Designation : |
Partner |
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Name : |
Mrs Dhanalakshmi |
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Designation : |
Partner |
KEY EXECUTIVES
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Name : |
Manufacturer, Trader, Exporter and Importer of Dried herbal raw
materials |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Trader, Exporter and Importer of Dried herbal raw
materials |
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Products : |
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Exports : |
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Products : |
Herbal products and their raw materials mainly |
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Countries : |
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Imports : |
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Products : |
Herbal raw material |
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Countries : |
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Terms : |
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Selling : |
L/C and Credit [30 days] |
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Purchasing : |
L/C and Credit [30 days] |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
25 |
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Bankers : |
ICICI Bank Limited, Chenani – 600001, |
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Banking
Relations : |
-- |
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Parent Company : |
R N Rajan and Company |
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]
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Particulars |
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31.03.2010 |
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Sales Turnover |
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100.000 |
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LOCAL AGENCY FURTHER INFORMATION
NOTE - MOST IMPORTANT
This is a partnership firm started in 1977. The partners are:
• Mrs Arulsakthi
• Mrs Sundarambal
• Mrs Girija
• Mrs Kanchana
• Mrs Dhanalakshmi
Now, this firm is going to be closed shortly say in the next 3 or 4
months and all transactions will be done by their parent firm R N Rajan and
Company from the same address. The parent firm was established in the year 1966
by the late Mr G Ramaswamy. The above mentioned partners are all daughters in
law of the late Mr G Ramaswamy. However all the products, clients of Ananda and
Company will be taken care by R N Rajan and company. So only the name will
differ. All transactions will be the same.
The firm Ananda Trading company is engaged in the import and export of
dried herbal raw materials. These materials are used inthe preparation of
herbal products all over the world. The turnover of the firm is about 10 crores
and they have a very good clients all over the orld who have been buying from
them for the past 30 years. Their main markets are in
Their bankers are lClCI bank. There is no way to assess the financial
strength of the firm. However since they are in the market for over 30 years
they have a good reputation and the fact that their product list almost covers
every type of herb that is used in the medicine industry says a lot about them.
They have a formidable product range and so are much sought after. Since It is
a family firm, financial transactions are closed affairs and are not
transparent. Caution advised in all financial dealings. Orders may be placed
against LCs or documents thru bank.
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 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 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.4465 |
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|
1 |
Rs.71.91 |
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Euro |
1 |
Rs.63.28 |
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.