MIRA
INFORM REPORT
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Report Date : |
19.03.2011 |
IDENTIFICATION DETAILS
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Name : |
CALLIDAI MOTOR WORKS |
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Registered
Office : |
Old No. 28, New No. 18, Desika Road, Mylapore, Chennai-600004, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Year of
Establishment : |
1998 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Manufacturer of mobility equipment, electric vehicles and power wheel
chair for persons with disability. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established proprietory concern having satisfactory
track. Trade relations are fair. Business is active. Payments are reported to
be usually correct and as per commitments. The concern can be considered normal for business dealings at usual
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
|
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
|
Name : |
Ms. Priya Bhargav |
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Designation : |
PRO |
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Contact No.: |
91-44-24995185 |
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Date : |
05.03.2011 |
LOCATIONS
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Registered Office/ Factory : |
Old No. 28, New No. 18, Desika Road, Mylapore, Chennai-600004, |
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Tel. No.: |
91-44-24995185/24991609/65290159 |
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Fax No.: |
91-44-42127432 |
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E-Mail : |
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Website : |
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Branches: |
They sell their products thru the following outlets also
Powered Wheelchairs and most of products are also available for
demonstration with the following persons:
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SOLE PROPRIETOR
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Name : |
Mr. Bhargav Sundaram |
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Designation : |
Proprietor |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of mobility equipment, electric vehicles and power wheel
chair for persons with disability. |
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Exports : |
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Products : |
Mobility Equipment, Electric Power Vehicles, Power Wheel, Chairs |
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Countries : |
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Imports : |
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Products : |
Raw Material, Wheels and Spare Parts |
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Countries : |
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Terms : |
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Selling : |
L/C / Credit |
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Purchasing : |
L/C / Credit |
GENERAL INFORMATION
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Customers : |
End Users |
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Bankers : |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
Not Available |
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Associates/Subsidiaries : |
Address: Tel No.: 91-44-42043300/42230400 Fax No.: 91-44-42044443 |
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]
|
Particulars |
|
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31.03.2010 |
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Sales Turnover |
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|
30.000 |
LOCAL AGENCY FURTHER INFORMATION
Note:
Subject is promoted by the third generation family members of Mr. K.R.
Sundaram lyer, founder of “
A WORD ABOUT THE
PROPRIETOR:
On the Banks of Sacred River Tambraparani in south Tamilnadu lies
Ambasamudram on one side and Kallidai Kurichi (Callidai For short) on the
other. Setting trends in Indigenous banking, Kallidai Kurichi also brought
forth pioneering Industrialists and Entrepreneurs. Callidai Motor Works comes
in the line of the pioneer and self made Industrialist Late K R Sundaram yer
well known in those days first as “
Callidai Motor Works practically provides solutions for ANY / ALL types
of Neurological Disorder resulting in Mobility Related Problems. This is
carefully done after collecting feature and measurements inputs from the user,
care taker attendant, Doctor and Physiotherapist.
Trade References:
- Apollo First Med Hospital, Chennai
- M V Diabetes Centre, Royapuram, Chennai
- Bone and
- Raju Nursing Home, Chennai
- G G Hospital, Nungambakkam, Chennai.
- Susrushaa Hapital, Nagercoil
- Dr. Arumugam Hospital, Nagercoil
- Institute Of Physically Handicapped, New
- Spastics Society of
- Worth Trust, Katpadi
- Wheelchair Trust Of
- Bhagwan Mahaveer Vikiang Sahayata Samiti,
- Help Handicapped International, Mumbai
- Adinath Jam Trust, Chennai
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.45.09 |
|
|
1 |
Rs.72.82 |
|
Euro |
1 |
Rs.63.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
4 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
46 |
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%)
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.