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Report Date : |
26.06.2012 |
IDENTIFICATION DETAILS
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Name : |
BRIGHT INDUSTRIES |
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Registered
Office : |
F5, Tulip Apartments, Plot No.57 and 58, Brindavan Nagar, Madambakkam,
Chennai, Tamilnadu |
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Country : |
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Year of
Incorporation : |
2012 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Manufacturer, Suppliers, Traders and Exporter of Corrugated Cardboard
Boxes, Paper Cups, Jute Box, Napkins. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
- |
NB |
New Business |
- |
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Status : |
New concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is new proprietory concern and yet to complete its one full
year of operation. Business is active. Payments are unknown. The concern can be considered for business dealings on 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 |
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Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Senthil Kumar |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9840177123 |
|
Date : |
26.05.2012 |
LOCATIONS
|
Registered Office : |
F5, Tulip Apartments, Plot No.57 and 58, Brindavan Nagar, Madambakkam,
Chennai, |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9840177123 (Mr. Senthil Kumar) |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory: |
Located at: Tirunrveli, |
SOLE PROPRIETOR
|
Name : |
Mr. Senthil Kumar |
|
Designation : |
Proprietor |
KEY EXECUTIVES
|
Name : |
Mr. Raja Singh |
|
Address : |
Tiruneveli, |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Suppliers, Traders and Exporter of Corrugated Cardboard
Boxes, Paper Cups, Jute Box, Napkins |
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|
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Terms : |
|
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Selling : |
L/C and Credit |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
Not Available |
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Bankers : |
Ř
YES Bank, Adyar Branch, Chennai, |
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Banking
Relations : |
-- |
CAPITAL STRUCTURE
|
Capital Investment : |
|
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
|
Total : |
-- |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Divulged
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 |
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 |
-- |
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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 two 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 |
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 started early this year. The proprietor is one Mr. Raja
Singh based at Tirunelveli. Mr. Raja Singh was in the business of trading in cardboard
boxes for many years. They have constructed a factory over there for the
manufacture of corrugated cardboard boxes. This is used as a packing material
for all types of consumer goods. Now, they have obtained a loan from Tamilnadu
Mercantile Bank, Tirunelveli and have constructed the factory. The machinery
has been bought from Mumbai and has arrived and has been installed. They are
waiting for the power situation to improve to start production. The power
situation in Tirunelveli is very bad and the Tamilnadu Electricity Board has
asked them to wait for sometime before they can give a commercial connection.
This is all about
their factory. They have appointed Mr. Senthil Kumar (who is a close relative
of Mr. Raja Singh) at Chennai to look after the sales and administration. The
production will be done on the orders of Mr. Senthil Kumar. Mr. Senthil has to
first canvass orders and then passes it on the Tirunelveli with specifications
for production. The specifications will come of course from the buyers. The
cardboard boxes will be made as per the buyer's specifications and as per the
material that is to be packed. Right now the residence address of Mr. Menthol
is used for contacts. However they are on the lookout for another premises
which will serve them as their office. As soon as they get the premises they
will shift the sales and administration office to that place. No order has been
obtained as production has not yet started.
Their bankers YES Bank, Ayer Branch. They have applied for the VAT and
IE code both.
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.56.53 |
|
|
1 |
Rs.88.09 |
|
Euro |
1 |
Rs.70.83 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPTP |
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.