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Report Date : |
17.10.2012 |
IDENTIFICATION DETAILS
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Name : |
SRI ANGALAMMAN COIRS |
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Registered
Office : |
No.29/1, |
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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, Exporter and Supplier of Coir, Brown Coir and White Length
Coir. |
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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 |
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- |
NB |
New Business |
- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new proprietory concern and yet to establish itself
gradually. Payment terms are unknown. 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
INDIAN ECONOMIC OVERVIEW
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Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
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Name : |
Mrs. S. Geetha |
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Designation : |
Proprietor |
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Contact No.: |
91-9688312324 |
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Date : |
16.10.2012 |
LOCATIONS
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Registered Office : |
No.29/1, |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9688312324 (Mrs. S. Geetha) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Factory/ Branch Office : |
143, |
SOLE PROPRIETOR
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Name : |
Mrs. S. Geetha |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Supplier of Coir, Brown Coir and White
Length Coir. |
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Products : |
·
Coir o
Brown Coir o
Coir Fiber o
White Coir, White Length Coir |
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Exports : |
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Products : |
Coir and Coir Products |
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Countries : |
Not started yet |
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Terms : |
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Selling : |
L/C and Credit (30 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
Not Available |
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Bankers : |
v
ICICI Bank Limited v
Axis Bank Limited v
HDFC Bank Limited, Pollachi, |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
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Sister Concern : |
Sri VMT Agrotech
Address: 143, Mr. T. Senthil Kumar (Proprietor) Mobile No.: 91-9994099717 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
Not Available |
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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
involved in |
-- |
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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 |
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31)
Date of Birth of Proprietor/Partner/Director, if available |
No |
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32)
PAN of Proprietor/Partner/Director, if available |
No |
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33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
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34)
External Agency Rating, if available |
No |
PROFILE:
This is a
proprietorship firm that was started 7 months ago. The proprietor is Mrs. Geetha S. now,
Mrs. Geetha hails from a family of businessmen all based in Pollachi and
engaged in the coir and coconut business. It all started in Pollachi last year
when Mr. Senthil, Mrs. Geetha's brother entered into business at Pollachi in
the name of Sri VMT Agrotech. The firm started as one of the big manufacturers,
exporters and suppliers of all types of coir fiber and coir products. They
offered coir peat, curled air, coco pith and many more items that have a great
demand worldwide. They have their state of the art machinery using the latest
technology. Their products are very popular among customers abroad because of
their durability, eco-friendliness and water retention capacity. Since the
demand was good they wanted to set up an office in Chennai. They envisaged a
good export market for their products and so set about to set a liaison office
in Chennai from where they could monitor their export orders. In this way Sri
Angalamman Coirs was born and the firm was set up with Mrs. Geetha as the
proprietor. The firm proposes to export all types of coir products all over the
world. The products of course will be produced in Pollachi in their own
factory. They are right now studying the export market and making contacts with
people abroad who will eventually give them the orders. They are very
optimistic and hope to do very well in the export market. All operations will
be carried out with the supervision of Mr. Senthil in Pollachi. He will
coordinate the receipt of orders, the manufacture and the shipment. For
corporate reasons they have started this firm with Mrs. Geetha as the head.
Though a she is the proprietor it will be her brother who will handle all
matters from Pollachi. The firm has just been started and so nothing has
happened till now. They have applied for the IEC code and will be shortly getting it.
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 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.52.82 |
|
|
1 |
Rs.84.95 |
|
Euro |
1 |
Rs.68.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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 |
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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 |
|
<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.