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Report Date : |
17.05.2012 |
IDENTIFICATION DETAILS
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Name : |
GANPATH OVERSEAS |
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Registered Office : |
# 94/38, Sri
Wickramapura, Mattakkuliya Colombo 15 |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Year of Establishment : |
2005 |
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Legal Form : |
Proprietorship Company (In Operation) |
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Line of Business : |
Importers and distributors of food items |
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No. of Employees : |
Approximately 05 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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A2 |
A2 |
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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 |
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Name of Subject of Inquiry |
: |
GANPATH OVERSEAS |
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Legal Form & Status |
: |
Proprietorship Company (In Operation) |
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Managing Proprietor |
: |
Shashi Karan |
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Primary Line of Business |
: |
Importers and distributors of food items |
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Branch Office |
: |
#
210-2/7, Airtel Market, |
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No. of
Employees |
: |
Approximately 05 |
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Registration No |
: |
Not Disclosed |
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Date of Registration |
: |
2005 |
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Registered Office |
: |
# 94/38, Sri Wickramapura, Mattakkuliya
Colombo 15, Sri Lanka Tel.
No: (00 94 11) 233 3799 Mobile Tel No: (00 94 77) 358 7465 (Mr. Karan) E-mail: goverseas25@yahoo.com Location: Owned |
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Proprietor |
: |
Shashi
Karan |
Managing Proprietor |
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Capital Structure |
: |
LKR 72 millions |
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Auditors |
: |
A B H and
Company |
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Company Secretaries |
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-Not Applicable- |
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Bankers |
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Bank of Ceylon, Colombo |
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Customers |
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· Rutika Traders · Nirmala Traders |
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Supplier |
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Diamond Agro Products |
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THE COMPANY HAS TO PROVIDE INFORMATION ON ITS
FINANCES
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31.03.2012 |
31.03.2011 |
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Sales (Approximately) |
: |
LKR. 264 millions |
LKR. 260 millions |
Expected
Sales (2012-2013) : LKR. 270 millions
(GENERAL DETAILS)
Name : Shashi Karan
Designation :
Proprietor
Contact :
94-77-3587465
Date :
17.05.2012
·
History:
The Subject
Company GANPATH OVERSEAS is Proprietorship Company,
Incorporated in
2005. The Proprietor declined to disclose further details as insists for the
details
of the enquiring
party.
The Proprietorship/Partnership Companies are registered at the
Provincial Registrar of
Companies and when the management decline to provide registration
details it is not
possible to trace company details at the Registrar’s office.
·
Location.
The Subject
Company is located at # 210-2/7, Airtel
Market, Main Street, Colombo 11, ,
one
of the most important business areas in
Colombo
The client given
address # 94/38, Sri Wickramapura, Mattakkuliya Colombo 15, Sri Lanka, is the registered address of the subject
and also the resident of the proprietor and in the absence of any contact
details (not listed in directories) extra time had be incurred to locate the
business place, since the inmates of the client given address declined to
provide company details.
·
Operations
Details.
General
The subject
company primary line of business is importers and distributors of food items
Products
Rice, Potatoes, Onions,
Chillies, Lentils, Green Gram, Sugar etc.
Import Countries
India, Pakistan, China
No of Employees
05 Employees
Trading Terms
Purchasing: Cash,
Credit
Selling: Cash,
Credit
·
Financial Data
The company has to
provide information on its finances.
Further, In Sri Lanka, Private Limited/partnership/proprietorship
Companies do not
publish their Accounts for
Public use other than the Shareholders.
Based on the corporate laws
of Sri Lanka, legal entities which are Private Company with Limited
Liability are not required to
make public disclosure of their annual financials. Therefore no
financials are available for
this entity
·
General Comments
When the Subject Company was contacted they were polite in providing the
basic information given in this report, however they were reluctant to provide
financial without knowing the identity of the end user of the report.
·
Credit
Recommendations
Since no financial
information has been forthcoming from the company, it is not possible to
comment on the merits or otherwise of the company.
No computerised data bases exist to make
checks whether the partners or the company has any legal action or lawsuit
initiated against any of them but informal (but not in-depth) checks do not
indicate any such cases in the public knowledge.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
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|
1 |
Rs.86.61 |
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Euro |
1 |
Rs.68.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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-- |
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.