|
Report Date : |
17.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
RAMA ENTERPRISES |
|
|
|
|
Registered
Office : |
New Guru Angad Dev Colony, St. No – 12, Near Magar Di Chakki, Dada Road,
Ludhiana, Punjab |
|
|
|
|
Country : |
India |
|
|
|
|
Year of
Establishment : |
April 2013 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.500 Million (Estimated) |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Trader of Word Working Machinery, Chisel
Mortising Machine, Thinkness Chain Chisel etc. |
|
|
|
|
No. of Employees
: |
10 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
- |
NB |
New Business |
- |
|
Maximum Credit Limit : |
USD 2000 |
|
|
|
|
Status : |
New Business |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new proprietary concern stated as on April 2013 and
establishing its self gradually. Mr. Sonu Verma, the Proprietor provided complete information and
confirmed that the concern has achieved a minimal turnover in its first 4
months of business operations. Trade relations are improving. Business is active. Payments terms are
slow but correct. 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 – 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 : |
Mr. Sonu Verma |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9914704886 |
|
Date : |
07.09.2013 |
LOCATIONS
|
Registered Office / Factory : |
New Guru Angad Dev Colony, St. No – 12, Near Magar Di Chakki, Dada
Road, Ludhiana, Punjab, India |
|
Tel. No.: |
91-161-5027620 |
|
Mobile No.: |
91-9914704886 (Mr. Sonu Verma), 9417668895, 9417187636 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Sonu Verma |
|
Designation : |
Proprietor |
|
Address : |
Ludhiana, Punjab, India |
|
Date of Birth/Age : |
28 Years |
|
Qualification : |
Graduate |
|
Experience : |
7 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Trader of Word Working Machinery, Chisel Mortising
Machine, Thinkness Chain Chisel etc. |
|
|
|
|
Products : |
Ř Word Working
Machinery Ř Chisel Mortising
Machine Ř Thinkness Chain
Chisel Ř Wood Working
Machine with Band Saw Machine Ř Sewing Machine
Wheels Ř Wood Working
Parts |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Retailers and Others |
|
|
|
|
No. of Employees : |
10 (Approximately) |
|
|
|
|
Bankers : |
Oriental Bank of Commerce, Ludhiana, Punjab, India |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Available |
|
|
|
|
Sister Concern : |
Rama Foundary Address : New Guru Angad
Dev Colony, St. No – 12, Near Magar Di Chakki, Dada Road, Ludhiana, Punjab,
India Line of Business
: Manufacturer, Exporter and Trader of Word Working Machinery, Chisel
Mortising Machine, Thinkness Chain Chisel etc. |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 0.500 Million (Estimated) |
|
Borrowed : |
-- |
|
Total : |
Rs. 0.500 Million
(Estimated) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
From April 2013
to September 2013 |
|
Sales Turnover (Approximately) |
|
|
1.000 |
|
|
|
|
|
The above information has been parted by Mr.Sonu Verma
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 |
Yes |
|
8] |
No.
of employees |
Yes |
|
9] |
Name
of person contacted |
Yes |
|
10] |
Designation
of contact person |
Yes |
|
11] |
Turnover
of firm for about 4 Months |
Yes |
|
12] |
Profitability
for last three years |
No |
|
13] |
Reasons
for variation <> 20% |
-------------------- |
|
14] |
Estimation
for coming financial year |
No |
|
15] |
Capital
in the business |
Yes |
|
16] |
Details
of sister concerns |
Yes |
|
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,
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.62.48 |
|
|
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.83.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
ANK |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.