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Report Date : |
03.05.2012 |
IDENTIFICATION DETAILS
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Name : |
DEVENDRA TRADING
CO LLC |
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|
|
|
Registered Office : |
Ahmed Abdullah
Almoosa Building, 2nd Floor, Office No. 201-203, Khalid Ibn Al Waleed
Street, Al Riffa, Deira 29287, Dubai |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
03.08.1996 |
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Com. Reg. No.: |
47271, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of
general foodstuffs and African textiles. |
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No. of Employees : |
6 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
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 (31.12.2011) |
Current Rating (31.03.2012) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name : DEVENDRA TRADING CO
LLC
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date : 3rd
August 1996
Commercial
Registration Number : 47271,
Trade Licence
Number : 242773
Chamber Membership
Number : 39628
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 6
Activities :
Distributors of general foodstuffs and African textiles.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Vikas
Ramchandani, Sales Manager
DEVENDRA TRADING CO
LLC
Building :
Street :
Area : Al Riffa, Deira
PO Box : 29287
Town :
Country :
Telephone : (971-4) 3934375 / 3939397
Facsimile : (971-4) 3934376 / 3932800
Email : devendra@emirates.net.ae
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Dubai.
Name Nationality Position
·
Devendra
Kumar Gulabani Indian Managing
Director
·
Ramesh
Jalapani Bin Wasumal Indian Director
·
Ali
Mohamed Yahya Zakaria Al Yahya Emirati Director
·
Pavan Kakuraja - Finance
Manager
·
Vikas
Ramchandani - Sales
Manager
·
Bhawan
Kurja - Accountant
Date of Establishment : 3rd
August 1996
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 47271,
Trade Licence No. : 242773 (Expires
02/08/2012)
Chamber Member No. : 39628
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Ali
Mohamed Yahya Zakaria Al Yahya
51%
·
Devendra
Kumar Gulabani 25%
·
Ramesh
Jalapani Bin Wasumal 24%
Activities: Engaged in the import and distribution of
general foodstuffs and African textiles.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 6 employees.
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales UAE Dh 13,280,000 UAE Dh 14,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Emirates
Bank International Ltd
Deira
PO Box: 2923
Tel: (971-4) 2256256 / 2256900
Fax: (971-4) 2268005 / 2267718
·
Bank of
PO Box: 3162
Tel: (971-4) 5531955
Fax: (971-4) 5536962
No complaints
regarding subject’s payments have been reported.
Established in
1996, subject is owned and managed by Mr Devendra Kumar Gulabani and Mr Ramesh
Jalapani Bin Wasumal who are Indian nationals operating in
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.93 |
|
|
1 |
Rs.85.85 |
|
Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.