Summary Information

 

 

Country

India

Company Name

VASANTH AND COMPANY

Principal Name 1

Mr. H Vasanthakumar

Status

Good

Principal Name 2

--

 

 

Registration #

--

Street Address

No. 18, Railway Border Road, Saidapet, Chennai-600015, Tamilnadu

Established Date

1978

SIC Code

--

Telephone#

91-44-24339839

Business Style 1

Trader

Fax #

91-44-24334707

Business Style 2

--

Homepage

micvasanth@yahoo.com

Product Name 1

Electronics and Home Appliances

# of employees

500 (Approximately)

Product Name 2

--

Paid up capital

Not Divulged

Product Name 3

--

Shareholders

--

Banking

Indian Bank

Public Limited Corp.

No

Business Period

35 years

IPO

No

International Ins.

-

Public Enterprise

No

Rating

Ba (51)

Related Company

Relation

--

Company Name

CEO

--

--

--

--

Note

-

 

2. Summary Financial Statement

Balance Sheet as of

31.03.2013

(Unit: Indian Rs.)

Assets

Liabilities

Current Assets

--

Current Liabilities

--

Inventories

--

Long-term Liabilities

--

Fixed Assets

--

Other Liabilities

--

Deferred Assets

--

Total Liabilities

--

Invest& other Assets

--

Retained Earnings

--

 

 

Net Worth

--

Total Assets

--

Total Liab. & Equity

--

 Total Assets

(Previous Year)

--

 

 

P/L Statement as of

31.03.2013

(Unit: Indian Rs.)

Sales

Not Divulged

Net Profit

--

Sales(Previous yr)

Not Divulged

Net Profit(Prev.yr)

--

 

MIRA INFORM REPORT

 

 

Report Date :

26.08.2013

 

IDENTIFICATION DETAILS

 

Name :

VASANTH AND COMPANY

 

 

Registered Office :

No. 18, Railway Border Road, Saidapet, Chennai-600015, Tamilnadu

 

 

Country :

India

 

 

Year of Establishment :

1978

 

 

Capital Investment / Paid-up Capital :

Not Divulged

 

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CHEV02226A

 

 

Legal Form :

Sole Proprietary Concern

 

 

Line of Business :

Trader of Electronics and Home Appliances.

 

 

No. of Employees :

500 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (51)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established proprietary concern having a good track record.

 

Ms. Jaya from Admin has denied to disclose financial detail for 2013.

 

As per the previous year record the financial strength seems to be strong. Liquidity position is good.

 

Trade relations are reported to be fair. Business is active. Payments are reported to be regular and as per commitment.

 

The concern can be considered for normal business dealings at usual trade terms and condition.

 

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, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

INDIAN ECONOMIC OVERVIEW

 

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

 

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

 

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

 

 

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

 

Name :

Ms. Jaya

Designation :

Admin

Contact No.:

91-44-24339839

Date :

24.08.2013

 

 

LOCATIONS

 

Registered Office :

No. 18, Railway Border Road, Saidapet, Chennai-600015, Tamilnadu, India

Tel. No.:

91-44-24339839

Mobile No.:

91-9840033352 (Mr. Vijay Kumar)

Fax No.:

91-44-24334707

E-Mail :

micvasanth@yahoo.com

Area :

3500 sq. ft

Location :

Owned

 

 

Showrooms :

·         Shanmugam Road, Tambaram, Chennai-600045, Tamilnadu, India

Tel No. 91-23266249

 

·         8, Main Road, Pallavaram

Tel No. 91-22641069

 

·         15, South Usman Road, T Nagar, Chennai-600017, Tamilnadu, India

Tel No. 91-24345437

 

·         108, Kutcheri Road, Mylapore, Chennai-600004, Tamilnadu, India

Tel No. 91-24616792

 

·         20, Arcot Road, Kodambakkam, Chennai – 600024, Tamilnadu, India

Tel No. 91-24800709

 

·         35, Arcot Road, Chennai 600026, Tamilnadu, India

Tel No. : 91-24800709

 

·         4, Padmanabha Nagar, Adyar, Chennai 600020, Tamilnadu, India

Tel No. 91-24915825

 

·         11, Padmanatha Nagar, Adyar, Chennai 600020, Tamilnadu, India

Tel. No. : 91-24915828

 

·         113, Kutchery Road, Mylapore, Chennai 600004, Tamilnadu, India

Tel No. 91-24980148

 

·         T H Road, Washermanpet, Chennai – 600021, Tamilnadu, India

Tel No. 91 25952861

 

·         874, MTH Road, Padi, Chennai- 600050, Tamilnadu, India

Tel No. 91 26243593

 

·         191, Puraswallkam High Road, Puraswalkkam, Chennai 600007, Tamilnadu, India

Tel No. 91 26422059

 

·         67 Valluvar Kottam Salai, Chennai 600034, Tamilnadu, India

Tel No. 91 28216253

 

·         37/1, North Usman Road, T Nagar, Chennai, Tamilnadu, India

Tel No. 91 283440312

 

·         45, AN Usman Road, Chennai 600017

Tel. No. : 91-24344767

 

·         Poonamalee High Road, Kielpauk, Chennai 600010, Tamilnadu, India

 

·         21,22 Hanmugalingam Road, Tambaram, Chennai - 600045, Tamilnadu, India

Tel. No. : 91-22266249

 

·         63, MTH Road, Padi, Chennai - 600050, Tamilnadu, India

Tel No. : 91-26243593

 

·         67, Mannarsamy Koil, Royapuram, Chennai – 600013, Tamilnadu, India

Tel. No. : 91-25952435

 

·         1033 TH Road, Washermanpet, Chennai – 600021, Tamilnadu, India

Tel. No. : 91-25952861

 

·         13/1, Nelson Manikam Road, Cholaimedu, Chennai – 600094, Tamilnadu, India

Tel. No. : 91-23745823

 

·         7, Arcot Road, Purur, Chennai – 600116, Tamilnadu, India

Tel. No. : 91-23860770

 

Apart from this they have show rooms in other suburbs and in almost every south Indian Town like:

·         Salem

·         Coimbatore

·         Vellore

·         Madurai

·         Kanchipuram

·         Tiruvelveli

·         Tuticorin

·         Nagercoil

·         Virudhunagar

·         Pollachi

·         Bangalore

 

 

Branches :

48 Branches All over India and 17 Branches in Chennai

 

Located At:

 

  • Kiolpauk
  • T Nagar
  • Mylapore
  • Nanganallur
  • Porur
  • Adyar
  • T Nagar
  • Choolaimedu
  • Washermanpet
  • Royapuram
  • Saidapet
  • Padi
  • Velachery
  • Tambaram
  • T Nagar
  • Adyar

 

 

SOLE PROPRIETOR

 

Name :

Mr. H Vasanthakumar

Designation :

Proprietor

Date of Birth/ Age:

66 Years

Qualification:

MA

 

 

KEY EXECUTIVES

 

Name :

Mr. Vijay Kumar [Son of Proprietor]

Designation :

Key Executive

Contact No.:

91-9840033352

 

 

Name :

Mr. Jairaj

Designation :

Accountant

 

 

Name :

Ms. Jaya

Designation :

Admin

 

 

BUSINESS DETAILS

 

Line of Business :

Trader of Electronics and Home Appliances.

 

 

Agencies Held :
  • LG
  • Samsung
  • Philips
  • Whirlpool

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

Customers :

Wholesaler, Retailers and OEM’s

 

 

No. of Employees :

500 (Approximately)

 

 

Bankers :

Indian Bank, T Nagar Branch, Chennai, India

 

 

 

Banking Relations :

--

 

 

Auditors :

Not Divulged

 

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Not Divulged

Borrowed :

--

Total :

Not Divulged

 

 

                                                                       FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

31.03.2013

31.03.2012

31.03.2011

Sales Turnover (Approximately)

Not Divulged

Not Divulged

5000.000

 

The above information has been denied by Ms. Jaya (Admin).

 

Note : Sole Proprietory and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

Yes

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

Yes

9]

Name of person contacted

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last one years

No

12]

Profitability for last three years

No

13]

Reasons for variation <> 20%

----------

14]

Estimation for coming financial year

No

15]

Capital in the business

No

16]

Details of sister concerns

No

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

Yes

20]

Export / Import details (if applicable)

No

21]

Market information

---------

22]

Litigations that the firm / promoter involved in

---------

23]

Banking Details

Yes

24]

Banking facility details

No

25]

Conduct of the banking account

----------

26]

Buyer visit details

----------

27]

Financials, if provided

Yes

28]

Incorporation details, if applicable

No

29]

Last accounts filed at ROC

No

30]

Major Shareholders, if available

No

31]

Date of Birth of Proprietor/Partner/Director, if available

Yes

32]

PAN of Proprietor/Partner/Director, if available

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

No

 

 

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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 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. 64.69

UK Pound

1

Rs. 100.79

Euro

1

Rs. 86.30

 

 

INFORMATION DETAILS

 

Information Gathered by :

PLV

 

 

Report Prepared by :

VNT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

6

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

6

--CREDIT LINES

1~10

5

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

51

 

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%)

 

 

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

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.