|
Report Date : |
08.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHREE MAHALAKSHMI TRADERS AND COMPANY |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Year of
Establishment: |
1962 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Indenting agent for pulses, food grains and kirana items. |
|
|
|
|
No. of Employees
: |
4 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
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Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established proprietary concern having a satisfactory
track record. Trade relations are
reported to be fair. Business is active. Payment are reported to be usually
correct and as per commitment. The concern can be considered for 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 |
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 (GENERAL DETAILS)
|
Name : |
Mr. R K Tater |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9840052263 |
|
Date : |
04.07.2013 |
LOCATIONS
|
Registered Office : |
# 72, Govindappa Naick Street, 2nd Floor, Chennai – 600001,
Tamilnadu, India |
|
Tel. No.: |
91-44-25292988/ 25291781 |
|
Mobile No.: |
91-9840052263 (Mr. R K Tater) |
|
Fax No.: |
91-44-25290746 |
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E-Mail : |
|
|
Website : |
SOLE PROPRIETOR
|
Name : |
Mr. R K Tater |
|
Designation : |
Proprietor |
KEY EXECUTIVES
|
Name : |
Mr. Rohit Tater |
|
Designation : |
Chief Executive Officer |
BUSINESS DETAILS
|
Line of Business : |
Indenting agent for pulses, food grains and kirana items. |
|
|
|
|
Products : |
·
Desi chick peas ·
Black Matpea ·
Chickpeas ·
Sugar ·
Yello Splitpeas ·
Green Moong Dhal ·
Channa Dhall Split ·
Bamboo Beans ·
Black Beans Butter Beans ·
Black eyed beans ·
Red Kindney beans ·
Whole yellow peas ·
Pigeon peas ·
Lentils ·
Rice ·
Wheat ·
Other food products and oil seeds |
|
|
|
|
Imports : |
|
|
Countries : |
·
USA ·
Europe ·
Canada ·
Australia ·
Middle East Countries ·
South Eastern Countries ·
Africa |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers |
|
|
|
|
No. of Employees : |
4 (Approximately) |
|
|
|
|
Bankers : |
·
Bank of America, Chennai, Tamilnadu, India ·
Tamilnadu Mercantile Bank, Chennai, Tamilnadu,
India ·
Bank of Indore, Chennai, Tamilnadu, India |
|
|
|
|
Facilities : |
-- |
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Raghavan Associates Chartered Accountants |
|
Address : |
Chennai, Tamilnadu, India |
|
|
|
|
Sister Concern: |
Sri Dhanalaxmi
Impex, Address: 128, Anna Pillai Street, Chennai – 600001, Tamilnadu, India |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
Not Divulged |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are in
Rupees Millions]
NOT DIVULGED
The above information has been denied by Mr. R K Tater (Proprietor)
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three 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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
No |
|
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 |
No |
|
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 |
PROFILE
SMT is an
international indenting agent for pulses, food grains and kirana items
headquartered in Chennai, India with a mission to be a global link between
exporters and importers in key Agro-commodity markets. SMT have been one of the
reputed enterprises actively engaged in the supply of pulses and food grains.
They have morphed into one of the leading exporters and importers in the
Asia-Pacific region with a strong market network and knowledge, operational
efficiency and overall financial stability with an enviable reputation for
business acumen, integrity and professionalism.
To offer their
clients tremendous versatility in providing comprehensive services to meet any
customized needs they are constantly in search of good exporters from other
parts of the world. They are particular about - Accurate Market Analysis,
Assessment of Crop Situation, Anticipation of Trends and Timely Information
which leads both Buyers & Sellers making Timely Purchases and Sales. Their
mission according to their proprietor Mr. R K Tater is:
·
To provide a reliable market and fair prices for
commodity
·
To process the commodity to international standards
·
To efficiently deliver the commodity to the end
market
SMT India has the
infrastructure and the resources to meet the most complex demands of customer
in terms of quality, quantity, time and delivery. They strive hard to achieve highest
Service Quality with Politeness and Courtesy, keeping Customer Satisfaction as
their highest priority. Their commitment to quality ensures finest service and
customer support.
Now Mr. R K Tater
is a veteran intending agent. They were direct Importers for some time. Later
on tor me past few years they are acting as intending agents. They contact the
supplier and place the order in the name of the client. The payment is done by
the client, the shipment is to the clients place and the commission for the
turnover or the value of the invoice is given to them. He says there are years
when he has ordered on behalf of his clients food grains to the tune of 400
crores. Their contacts in almost every part of the world, South America, North
America, Africa, Canada and the Middle East are very reliable and big names in
the export of food grains and other pulses, rice etc. The order is procured
from all over India and sometimes even from Singapore, Malaysia and other South
east countries.
The firm was
started by Late. Shri Pukhrajji Tater in the year 1962. and has been going on with steady clients till date. The present ownership is
proprietary with Mr. R K Tater heading and he is assisted by his son Mr. Rohit
Tater. Their office is situated in the wholesale market of pulses of Tamilnadu
that is Broadway, Sowcarpet. They shop is in Govindappa Naicken Street and one
cannot ask for a better location than this as the wholesale market of rice,
pulses and other grains in just on the same street and the streets adjacent to
this. They have a small shop on the second floor and an office staff of about 4.
Mr. Tater said
that he is a member of CICILS-IPTIC. The International Pulse Trade and
Industries Confederation (CICILSIPTIC) is head quartered in Dubai and licenced
under the Dubai Government authority, Dubai Multi Commodity Centre (DMCC).
It is a global not
for profit confederation with membership from 17 national associations (federations) and 680 private sector members in an industry worth over $100 Billion at the retail level and
over 60 million tonnes in pulse
production and distribution in over 55 countries.
The organization represents the common good of all sectors of the global pulse
industry value chain from growers and researchers, through input and logistics
suppliers, traders, exporters and importers to government bodies, multilateral
bodies, processors, canners and consumers. ClClLS IPTlC works for transparency
and sustainability in all sectors and aspires to contribute in as many ways
possible to global food security and improved health and nutrition.
The ClClLS
Executive Board consists of up to 30 members
from all over the world elected from the membership. Board positions are
voluntary, non-profit and carry no remuneration.
The organization
has a small salaried-staff of two employees based in the Dubai office and an
Executive Director currently based IP Australia. Specialist consultants are
contracted for specific projects from time to time.
Mr. Tater also was
very optimistic about this year as imports of both edible oils and pulses grew
significantly in the year 2012-13 (edible
oil imports grew by 15.5 percent
and pulses by 26.21 percent) and
the Indian Government has extended the No import duty policy to pulses for the
year ending March 2014.
While imports of
edible oils crossed $10 billion
in 2012-13 from $9.7 billion, those of pulses were
still comparatively less. India imported $2.33 billion of pulses last financial year compared with $1.85 in 201 1-12. Analysts blamed the pricing policy of the government in
favor of rice and wheat, which do not factor the changing consumption pattern.
Oilseed production dropped almost 8.25 per
cent to 29.79 million tonnes in 2011-12 (November-October) because of
low kharif harvest on account of uneven rains. In 2012-13 too, oilseed production is expected to be only marginally
better than last year also because of poor rains in the main growing regions of
Maharashtra and Gujarat. It is estimated to be around 30.7 million tonnes. Going forward, experts said domestic oilseed
production is falling woefully short of edible oil demand, which would continue
to rise further aggravating
supply- demand
mismatch in the coming years. "India every year needs an additional seven to
eight lakh tonnes of edible oils, for which oilseed production has to increase
by at least five million tonnes, unthinkable given that India's domestic
oilseeds production has stagnated at around 28-32 tonnes.
So the import of
pulses and oil seeds is expected to rise in the year 2013-2014 and Mr. Tater is
ready to take advantage of the situation.
A small but a firm
with significant turnover. Indenting agents for food grains and pulses. Cash
rich as their business does not involve any capital investment and the climate
for import is right and bright.
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.60.34 |
|
|
1 |
Rs.60.79 |
|
Euro |
1 |
Rs.77.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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 |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.