|
Report Date : |
11.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
VARSHA FAB |
|
|
|
|
Registered
Office : |
B 2064-65-66, Millenium Market, |
|
|
|
|
Country : |
|
|
|
|
|
Year of
Establishment : |
2008 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHFV9202E |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
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|
|
|
Line of Business
: |
Manufacturer, Trader and Exporter of Designer Lehenga Style Sarees, Fancy
Saree, Designer Wededding Wear Saree, Ladies Designer Saree, Gerorgette
Saree, Wedding Party Wear Saree, Bridal Wear Lehenga Choli, Wedding Saree,
Designer Wear Saree, Designer Party Wear Saree, Fancy Designer Saree. |
|
|
|
|
No. of
Employees: |
5 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having moderate track.
The partner Mr. Dhruv has provided us the general details and denied to disclosed
the financial information. Business is active. Payments are unknown. The concern can be considered for business dealing with some cautions.
|
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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Dhruv |
|
Designation : |
Online Sales Representative |
|
Contact No.: |
91-9924110367 |
|
Date : |
27.06.2012 |
LOCATIONS
|
Registered Office : |
B 2064-65-66, Millenium Market, Ring Road, Surat – 395002, Gujarat,
India |
|
Tel. No.: |
91-261-2335585 |
|
Mobile No.: |
91-9924110367 (Mr. Dhruv) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Rented |
|
Location : |
1000 Sq. ft. |
PARTNERS
|
Name : |
Mr. Rakeshbhai |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Padmsingbhai Mordiya |
|
Designation : |
Partner |
KEY EXECUTIVES
|
Name : |
Mr. Dhruv |
|
Designation : |
Online Sales Representative |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader and Exporter of Designer Lehenga Style Sarees,
Fancy Saree, Designer Wededding Wear Saree, Ladies Designer Saree, Gerorgette
Saree, Wedding Party Wear Saree, Bridal Wear Lehenga Choli, Wedding Saree,
Designer Wear Saree, Designer Party Wear Saree, Fancy Designer Saree. |
|
|
|
|
Brand Names : |
HIMSON SAREES |
|
|
|
|
Exports : |
|
|
Products : |
·
Sarees ·
Dresses |
|
Countries : |
·
UK ·
USA ·
Singapore |
|
|
|
|
Terms : |
|
|
Selling : |
Advance and Credit (30 days) |
|
|
|
|
Purchasing : |
Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
|
|
|
|
No. of Employees : |
5 (Approximately) |
|
|
|
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Bankers : |
Union Bank of India |
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|
|
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Available |
|
|
|
|
Memberships : |
SRTEPC (Synthetic and Rayon Textiles Export Promotion Council) |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
Not Divulged |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
NOT DIVULGED
The above information has been declined by Mr. Dhruv
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
Yes |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
No |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
No |
|
Profitability
for last three years |
No |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
No |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
Yes |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
No |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
No |
|
Incorporation
details, if applicable |
No |
|
Last
accounts filed at ROC |
No |
|
Major
Shareholders, if applicable |
No |
AS PER WEBSITE DETAILS:
PROFILE
Subject is an amazingly beautiful as its
inspiration that theme of Himson in classical Indian aesthetics,originating
from one of the silk city in world, Surat in India.
The vibrant collection by Subject is a
marvelous fusion of Indian tradition and western style. There awesome Sarees
collection includes Designer Sarees, Designer wedding sarees, Bridal Embroidery
Sarees,Exclusive traditional Indian Sarees, Casual wear Sarees, Lehanga style
Sarees, Bandhej Sarees and Many more of Women's Sarees….!
The Lehanga collection includes exclusive
bridal ghagras, designer lehanga choli and many more…!
Himson Sarees mainly caters to the Surat
Textile Market, the town known for its unmatched quality textile products. They
Himson Sarees have an in-house packaging facility for there export clients who
wish to export their fabrics in cut and pack form.
Be it the festive season or a wedding, a gala party
or any other event of entertainment and celebration- Subject caters to you as a
trademark manufacturer and exporter of a range of Sarees, Wedding Sarees,
Designer Sarees, and Lehanga Cholis, etc. They assure to deliver you the real
value for the money with there stylishly creative, contemporary, and yet ethnic
designer sarees and lehanga cholis to flaunt the personality. There products
that are quite a rage amongst the women and ladies of all age groups have
proved to be the real head turners for the onlookers.
There quality is the main highlight of the
company. Best quality fabric worked upon with unique designs through sequins,
zari work, heavy embroidery, etc. is used to make these sarees and lehangas.
They are completely customer oriented and their satisfaction has always been
there intention. It is due to these characteristics that they have earned the
distinction of always delivering there range of clothes on time, being availed
at affordable prices. They are completely open to customer feedback and
suggestions and try to incorporate their ideas in there manufacturing
operations. There innovative style and designs have already created waves in
the fashion market while setting a benchmark for others in this industry. The
sarees and other designer items of there range are available in a varied range
of colors providing a natural feeling and texture, suitable for all the
seasons.
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.55.81 |
|
|
1 |
Rs.86.53 |
|
Euro |
1 |
Rs.68.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.