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Report Date : |
03.07.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered
Office : |
1-10-32, Begumpet, |
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Country : |
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Year of
Establishment: |
Not Divulged |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
: |
Construction Activity. |
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No. of Employees
: |
(Approximately) 15 Staff and Site labour 100 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Site visit was conducted on the given address. Mr. Vinod Agarwal, the
managing partner denied to disclose any details of the subject to us. Subject is a big construction project. It is promoted by construction
industry veterans Mr. Vinod Agarwal and Mr. Chandvlal Patel. As per our observation, the business is active. Payments terms are not
known. The subject can be considered for business dealings initially 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
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 DECLINED BY
|
Name : |
Mr. Vinod Agarwal |
|
Designation : |
Managing Partner |
|
Date : |
30.06.2012 |
LOCATIONS
|
Registered Office : |
1-10-32, Begumpet, Hyderabad – 500016, Andhra Pradesh, India |
|
Tel. No.: |
91-40-27769999 (5 Lines) |
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Fax No.: |
91-40-27766333 |
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E-Mail : |
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Website : |
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Area : |
20000 Sq. Ft. |
PARTNERS
|
Name : |
Mr. Vinod Agarwal |
|
Designation : |
Managing Partner |
Note: Other name of partners is not divulged.
BUSINESS DETAILS
|
Line of Business : |
Construction Activity. |
GENERAL INFORMATION
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No. of Employees : |
(Approximately) 15 Staff and Site labour 100 |
|
|
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Bankers : |
Not Divulged |
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Banking
Relations : |
-- |
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Auditors : |
Not Divulged |
CAPITAL STRUCTURE
|
Capital Investment : |
|
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
NOT DIVULGED
The above information has been declined by Mr. Vinod Agarwal.
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1) Year of Establishment |
No |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
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4) Premises details |
No |
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5) Type of Business |
Yes |
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6) Line of Business• |
Yes |
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7) Promoter’s background |
No |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
No |
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12) Profitability for last three years |
No |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
No |
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16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
No |
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20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
No |
|
24) Banking facility details |
No |
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25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
Yes |
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27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
No |
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29) Last accounts filed at ROC |
No |
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30) Major Shareholders, if available |
No |
OBSERVATION POINT
|
Name of Company: |
VERMONT PROJECTS |
|
Address: |
1-10-32, Begumpet, Hyderabad – 500016, Andhra Pradesh, India |
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E-mail Id: |
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Website: |
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Tel No.: |
91-40-27769999 |
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Fax No.: |
91-40-27766333 |
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Cell No.: |
97000-35000 / 97000 36000 |
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Name Board: |
Sighted |
|
Visibility of Name
Board : |
Moderate |
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Location : |
Easy |
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Locality : |
Office |
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Approx. Market
Value of Premises: |
Area : 20000 Sq. Ft. (Approximately) |
|
Area : |
Upmarket |
|
Visibility of Items
: |
Telephone Computers AC |
|
No. of Employees
seen at business Premises: |
15 Staff and Site labour 100 |
|
Furniture Items
Sighted: |
Yes |
|
Office Appearance
:
|
Good |
|
Visiting Card
provided as proof of Visit |
Yes |
WEBSITE DETAILS:
PROFILE
Vermont Projects is promoted by construction industry veterans Mr. Vinod Agarwal and Mr. Chandulal Patel. With more than 50 years combined experience in construction industry, their latest offering Welkin Park is their most ambitious project to date.
Mr. Vinod Agarwal with his earlier associates built Swapnalok at SD Road
Sec'bad, Chenoy Trade Center at Parklane Sec'bad, Taramandal Complex at
Secretariat Road, Suryalok at Gunfundry, Abids and Indralok in Banjara Hills.
Mr. Chandulal Patel has been in building materials business for more than 30
years. He has coal mines in Indonesia and is the sales promoter of India
Cements.
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.55.83 |
|
|
1 |
Rs.87.41 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
- |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
12 |
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 |
|
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.