MIRA
INFORM REPORT
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Report Date : |
24.03.2011 |
Note: The Registered office has been shifted from above address.
IDENTIFICATION DETAILS
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Name : |
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Registered
Office : |
16-5-397, |
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Country : |
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Year of
Establishment : |
2010 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
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Manufacturer and Exporter of Paper Plates, Paper Cups, Shopping Paper Bags,
Paper Bags, Marble Handicrafts, Wooden Handicrafts etc. |
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 proprietory concern and yet to complete its one full
year of operation. 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 – 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 : |
Mrs. A M Navaneetha |
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Designation : |
Proprietor |
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Contact No.: |
91-9701425335 |
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Date : |
21.03.2011 |
LOCATIONS
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Registered Office : |
16-5-397, |
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Mobile No.: |
91-9701425335 (Mrs. A M Navaneetha) |
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E-Mail : |
SOLE PROPRIETOR
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Name : |
Mrs. A M Navaneetha |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Paper Plates, Paper Cups, Shopping Paper Bags,
Paper Bags, Marble Handicrafts, Wooden Handicrafts etc. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit ( 30 Days) |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailer and End Users |
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No. of Employees : |
Not Available |
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Bankers : |
Dena Bank, Tirupathi |
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Banking
Relations : |
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Auditors : |
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Name : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
Not Available |
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Total : |
Not Available |
FINANCIAL DATA
[all figures are
in Rupees Millions]
New Concern
LOCAL AGENCY FURTHER INFORMATION
Profile:
This is a proprietorship firm started in late 2010. Now, the firm was
started by A M Navaneetha in Chennai. They first saw a place in Mahalingapuram,
Kodambakkam in Chennai and fixed it up. That is the address that you have given
Later even before starting operations they found that this place was not
suitable for them and that they could not do anything there. So they closed down
the premises (that is cancelled the rental agreement as it was a rented place).
After that they searched for a suitable place in Chennai for sometime, but they
could not find a suitable place for the rent they could afford. They did not
know what to do so they went to their hometown in Tirupathi and settled down in
their own house there. They are taking sometime off now to think where to set
up shop. They would like to open shop in Tiruvellore dist, but have not got a
suitable place. So, they are now static and no operations are taking place.
Meanwhile the proprietor Mrs Navaneetha whose craftsmanship is the basis for
the products that the firm offers, has a set of people in Tirupathi who can
manufacture for her the ordered items. So, on a contract basis she is handling
orders from her house.
There is no way to assess the financial strength of the firm. No
turnover has been reported till now, as no orders have been handled. Given
below is the residential address of the owner where she can be contacted. No
financial transactions advised at all. Keep away from sanctioning loans for
sometime till they acquire a shop and start operations.
Their bankers are Dena Bank, Tirupathy and the account holder is the
husband of the proprietor’s husband Mr Madanagopal Ac No 060410001562.
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 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.96 |
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1 |
Rs.73.57 |
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Euro |
1 |
Rs.63.68 |
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.