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Report Date : |
19.07.2012 |
IDENTIFICATION DETAILS
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Name : |
PRASANAVEL IMPEX |
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Registered
Office : |
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Country : |
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Year of
Establishment : |
2012 |
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Capital
Investment / Paid-up Capital : |
Not Available |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Manufacturer, Suppliers and Exporter of Human Hair of all types and
colors. |
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No. of Employees
: |
Information declined by the management. |
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 : |
-- |
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Litigation : |
-- |
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Comments : |
Subject is a new proprietory concern and establishing itself
gradually. Business is active. Payment terms are not known. Initially, 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 – 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. V Venkatesan |
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Designation : |
Chief Executive Officer |
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Contact No.: |
91-9566053679 |
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Date : |
16.07.2012 |
LOCATIONS
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Registered Office / Factory : |
11/19 Kalyanpuram Street, Choolaimedu, Chennai – 600094, Tamilnadu,
India |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9566059679 (Mr. V Venkatesan) |
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Fax No.: |
Not Available |
SOLE PROPRIETOR
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Name : |
Mrs. V Suganya |
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Designation : |
Proprietor |
KEY EXECUTIVES
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Name : |
Mr. V Venkatesan |
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Designation : |
Chief Executive Officer |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Suppliers and Exporter of Human Hair of all types and
colors. |
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Products : |
·
Remy Single Drawn Human Hair Lengths from 8 to 40
inches ·
Remy Single Drawn Human Hair Style is Straight, Wavy,
Curly Hair ·
Single Machine Weft Hair with and without Glue ·
Double Machine Weft Hair with and without Glue ·
Machine Weft Wavy Hair ·
Machine Weft Curly Hair ·
Machine Weft Straight Hair ·
Machine Weft Gray Hair ·
Machine Weft Pure White Hair |
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Terms : |
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Selling : |
L/C and Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers and End Users |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
Standard Chartered Bank, Chennai, Tamilnadu, India |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
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Sister Concern : |
Om Sakthi Murugan Enterprises Address: 11/19
Kalyanpuram Street, Choolaimedu, Chennai – 600094, Tamilnadu, India |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
-- |
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Total : |
Not Available |
FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW CONCERN
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
LOCAL AGENCY FURTHER INFORMATION
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Check List by Info
Agents |
Available in Report
(Yes / No) |
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1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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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 |
No |
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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 |
Yes |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
No |
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21) Market information |
-- |
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22) Litigations that the firm / promoter |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
No |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
No |
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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 |
PROFILE
This is a proprietorship firm. The proprietor is Mrs. V Suganya. Now,
Mrs. Suganya is the wife of Mr. M Venkatesan. Mr. Venkatesan has been in the human
hair trade since 1972 and runs a firm in his name styled as Om Sakthi Murugan
Enterprises at Choolai, Chennai. He is a veteran in this field and since his
business is growing large he wanted to expand and so he started another firm in
the name of his son Mr. Prasanavel. Thus was born Prasanavel Impex. The firm is
only 2 months old. Mr. Venkatesan has applied for the IEC and the TIN number
and is yet to get the same. No orders have been executed in this name and all
orders are being handled thru Om Sakthi Murugan Enterprises. The specialty of
the firm is Remy hair in all attractive colors. The range of human Remy Hair
available with them encompasses Remy Single drawn Human Hair lengths from 8 to
40 inches, Remy single drawn human hair, wavy, curly hair, single machine weft
hair with and without glue, double machine weft hair with and without glue etc.
They are available with them in an array of colors such as black, brown, white,
red, and in all textures like straight, curly, wavy etc. They provide a complete
hair solution that will help you to get the desired look on any occasion.
Herein, they take careful measure to ensure that all the hair is well-cleaned
and washed and then sterilized to assure 100% hygiene to the customers.
They are expecting to do 90% exports and 10% local supplies once their
registration numbers arrive. So as of now the firm is yet to accept orders.
Their bankers are Standard Chartered bank, Chennai 34. There is no question of
any turnover as they have not opened their account as yet.
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.55.34 |
|
|
1 |
Rs.86.55 |
|
Euro |
1 |
Rs.67.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
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 |
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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 |
|
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 |
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<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.