MIRA
INFORM REPORT
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Report Date : |
21.01.2012 |
IDENTIFICATION DETAILS
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Name : |
FX ENTERTAINMENT PRIVATE LIMITED |
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Registered
Office : |
Old No.3, New No.17, MGR Salai, Saligramam, Chennai – 600 093,
Tamilnadu |
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Country : |
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Date of
Incorporation : |
22.12.2009 |
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Com. Reg. No.: |
18-074001 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.100
million |
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CIN No.: [Company Identification
No.] |
U51505TN2009PTC074001 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
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Importers and Traders of Audio Visual Systems. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and yet to establish itself gradually. Trade
relations are reported as fair. Business is active. Payments are unknown. The company can be considered for business dealings on a 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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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. Sridhar |
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Designation : |
Executive-Chennai |
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Contact No.: |
91-9810499942 |
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Date : |
19.01.2012 |
LOCATIONS
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Registered Office : |
Old No.3, New No.17, MGR Salai, Saligramam, Chennai – 600 093, |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9810499942 (Mr. Sridhar) |
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Fax No.: |
Not Available |
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E-Mail : |
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Head Office : |
40/46, Lower Ground Floor, |
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Tel. No.: |
91-11-40507113/ 40507114 |
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Fax No.: |
91-11-40507112 |
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E-Mail : |
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Warehouse/ Sales Office : |
13 A, |
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Showrooms : |
Located at: v
v
Mumbai v
Gurgaon |
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Branch Office : |
Located at: v
Chennai v
Mumbai |
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Warehouse : |
Also located at: v
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Franchise : |
Located at: v
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Dealer Stores : |
Located at: v
Ahmedabad v
Anand v
v
v
Chennai v
v
v
v
Jharkhand v
Kerala v
Kolkata v
v
v
v
v
Pune v
v
Shillong, etc. |
DIRECTORS
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Name : |
Mr. Shane Choithramani |
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Designation : |
Director |
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Address : |
G-17, IInd Floor, Lajpat Nagar-III, |
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Date of Birth/Age : |
30.11.1973 |
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Date of Appointment : |
22.12.2009 |
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DIN No.: |
02331816 |
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Name : |
Ms. Angelique Obrien |
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Designation : |
Director |
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Address : |
Jains Ashraya, FOB 4th Floor, |
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Date of Birth/Age : |
08.09.1972 |
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Date of Appointment : |
22.12.2009 |
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DIN No.: |
02331800 |
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Name : |
Mr. Gaurav Sen |
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Designation : |
Finance Director |
KEY EXECUTIVES
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Name : |
Mr. Sridhar |
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Designation : |
Executive-Chennai |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 12.12.2009
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Names of Shareholders |
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No. of Shares |
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Angelique Obrien |
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5000 |
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Shane Choithramani |
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5000 |
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Total |
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10000 |
BUSINESS DETAILS
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Line of Business : |
Importers and Traders of Audio Visual Systems. |
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Brands dealing in : |
v
v
Mordaunt v
Elipson v
Norstone v
Xtreame v
Russons v
Magic Mirror v
Swarovski |
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Exports : |
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Products : |
AV Systems |
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Countries : |
v
Indian Subcontinent v
v
v
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Imports : |
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Products : |
AV Systems |
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Countries : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Corporation Bank, |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each
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Rs.0.500
million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each
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Rs.0.100
million |
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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 (Approximately) |
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250.000 |
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The above information has been parted by Mr. Sridhar
(Executive-Chennai).
LOCAL AGENCY FURTHER INFORMATION
PROFILE:
This is a private limited company with registered office and warehousing
facilities at Chennai. Fx Entertainment are importers and distributors of some
of the world’s most highly acclaimed premium high end audio and video products
for the home theater and audio industry. The company was established in the
year 2006 and was properly registered with the Registrar of companies on
21.12.2009. Till then it was a proprietorship firm. They are the sole importers
and distributors for the following brands
• Cambridge Audio system
• Mordaunt Short systems
• Elipson audio systems
• Norstone systems
• Russound multiroom audio systems
• Xtream media server
Their Head office is in
Their first show room was started in
The company employs about 35 people in
A small but reputed company whose turnover touches 100.000 millions INR
per year and is rearing to go places. They have future plans to open show room
in high end malls like the one in Gurgaon where visibility and sales will peak.
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.50.33 |
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|
1 |
Rs.77.97 |
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Euro |
1 |
Rs.65.31 |
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.