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Report Date : |
06.12.2014 |
IDENTIFICATION DETAILS
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Name : |
GREKA TURNKEY ( |
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Registered Office : |
Offshore Incorporations Centre |
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Country : |
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Date of Incorporation : |
07.02.2013 |
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Com. Reg. No.: |
1759790 |
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Legal Form : |
International Business Company |
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Line of Business : |
Offshore company |
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No. of Employees : |
0 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Offshore Company |
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Payment Behaviour : |
Unknown |
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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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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British
Virgin Islands |
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 |
BRITISH VIRGIN ISLANDS - ECONOMIC OVERVIEW
The economy, one of the most stable and prosperous in the Caribbean,
is highly dependent on tourism generating an estimated 45% of the national
income. More than 934,000 tourists, mainly from the US, visited the islands in
2008. In the mid-1980s, the government began offering offshore registration to
companies wishing to incorporate in the islands, and incorporation fees now
generate substantial revenues. Roughly 400,000 companies were on the offshore
registry by yearend 2000. The adoption of a comprehensive insurance law in late
1994, which provides a blanket of confidentiality with regulated statutory
gateways for investigation of criminal offenses, made the British Virgin
Islands even more attractive to international business. Livestock raising is
the most important agricultural activity; poor soils limit the islands' ability
to meet domestic food requirements. Because of traditionally close links with
the US Virgin Islands, the British Virgin Islands has used the US dollar as its
currency since 1959.
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Source
: CIA |
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IDENTIFICATION |
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Ordered as: |
Greka Turnkey Drilling India Ltd |
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Address in the order: |
P O Box No 957, Offshore Incorporation Centre Road Town Tottola British Virgin Islands |
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Comments on data supplied: |
The name provided is incorrect, please find in the report the legal
name of the company. |
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Legal Name: |
Greka Turnkey (India) Ltd |
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Legal Address |
Offshore Incorporations Centre P.O. Box 957 |
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Postal Town |
Town Road |
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Post Code |
VG1110 |
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Primary Geographic Area |
Tortola |
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Country |
VG |
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Location Status |
Single Location, Legal Address, |
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Mailing Address |
P.O. Box 957 Road Town Tortola VG1110 British Virgin Islands |
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Telephone: |
1-284-494-8184 |
Registration Number : |
1759790 |
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Fax: |
1-284-494-5132 |
Legal Form: |
International Business Company |
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Email: |
N.A. |
Registered in: |
VG |
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Website: |
N.A. |
Date Created: |
2013 |
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MANAGERS: |
N.A. |
Date Incorporated: |
February 7 , 2013 |
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Staff: |
0 |
Stock: |
50 000 Shares |
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SIC Code: |
6719 |
Value: |
N.A. |
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Activity: |
Offshore company |
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Management:
It is locally managed by the registered agent mentioned above.
The agent declined to give any information on the subject, who is
protected by the law of non disclosure.
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Legal Fillings |
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The sources consulted record no detrimental legal or labor court
information. |
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Public |
NO |
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Shareholders - RELATED COMPANIES |
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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The company is owned by foreign shareholders. |
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Payments |
REGULAR |
N/a
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FINANCIALS - COMMERCIAL TRENDS AND FORECAST |
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As a private company the subject does not publish any financial
statements. |
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However our financial sources could provide us with the following
data. Those figures are estimates provided by confidential banking and
financial institutions working with the company. |
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Currency |
DATE |
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USD |
2013 |
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Turnover |
0 |
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Operating Income |
500 000 |
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Net Income |
500 000 |
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Net worth |
N.A. |
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Bank liabilities |
0 |
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The cash flow is |
Normal |
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FINANCIAL
SUMMARY |
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Profitability |
GOOD |
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Indebtedness |
NIL |
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Cash |
NORMAL |
N/a
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GEOPOLITICS - BRITISH VIRGIN ISLANDS |
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: British overseas territory - Parliamentary system |
Currency: USD |
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BANKS |
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Name of the Bank |
HSBC |
BUSINESS
PRINCIPAL ACTIVITY
Greka Turnkey (India) Ltd is an International
Business Company / Offshore Company incorporated in the British Virgin Islands
for tax purposes.
However the company does not carry any operation in the British Virgin
Islands.
LINE OF BUSINESS : Finance and investment
Subject has the following purposes and objects: The principal object is
to engage either in the Virgin Islands or abroad, in the purchase, sell,
disposal, dealing, transfer, barter, ownership, negotiate, finance,
administration to grant guaranties in favor of obligation of third parties with
or without mortgage or pledge of the corporation assets, give or borrowing
money in loan, giving or taking in commission, mortgage, security, lease, use,
usufruct, or receivership, any kind of property, whether real or personal stock
or rights, and make and accept all kinds of deals, contracts, operations,
business and transactions of lawful commerce.
The corporation could engage also in fulfilling all activities,
contracts, operations, business or transactions allowed by Law to the
Corporation.
In particular it is engaged in financial intermediation operations,
participation in overseas companies, shareholdings, overseas investments in
general, etc.
According to informed by subject's resident agent, it is legally
registered in the British Virgin Islands, with head offices abroad.
It means that subject uses the British Virgin Islands territory only as
its legal and administrative address, but all its operations are carried out
abroad.
It is under the same condition as many companies that are established in
the British Virgin Islands, founded in order to protect their shareholder's investments
and, to avail of tax exemption laws in that country.
Subject's annual business volume is not disclosed by its Resident Agent.
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Trade References: |
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In virtue of the nature of its business activities its local
transactions are seldom. Therefore, commercial sources consulted in the
marketplace report that they are unable to establish subject's payment
performance and general reputation regarding commitments contracted as same
it is UNKNOWN as making use of credit
facilities. |
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The subject employs 0 employee(s) |
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Comments on staff: |
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The subject uses the staff of the registered Agent. |
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PAYMENTS |
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made on a 20 days basis - monitored over the last 12 months |
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LOCATION |
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Headquarters |
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The Address mentioned above is that of the registered agent:
Offshore Incorporations Limited
Offshore Incorporations Centre
P.O. Box 957
Road Town
Tortola VG1110
British Virgin Islands
Tel#: 1-284-494-8184
Fax#: 1-284-494-5132
PHYSICAL ASSET HOLDINGS: No properties in the British Virgin
Islands. Possible properties abroad are
unknown.
Business Overview:
BVI International Business Companies (IBCs)
are the off-shore companies with a great number of advantages, such as:
1) Exemption from payment of any income tax;
2) Can conduct most business transactions (except conducting banking and
insurance activities and other businesses with residents of the BVI; or to
possess real estate in BVI);
3) Requires a minimum of only one shareholder and one director;
4) The directors and shareholders can be entities or individuals
resident in any country;
5) The shares can be issued to the bearer or registered;
6) The Board of Directors can meet in any part of the world and even by
telephone;
7) The payment of minimum capital is not required, and the shares can be
issued at par or non par value;
8) The names of the Directors, Officers and shareholders do not need to
be registered in a public record
9) No need to file annual reports nor tax returns;
10) Can transfer its domicile and continue existing as a company
incorporated under the laws of a jurisdiction outside of BVI; a foreign company
can also become a BVI IBC;
11) Neither the minutes book nor the shares book need to be certified by
any authority of BVI;
12) It is not necessary to carry out Directors or shareholder meetings
on a regular basis.
13) The name of the company must include the word 'Limited',
'Corporation' or 'Incorporation', or the abbreviation 'Ltd.', 'Corp.', 'Inc.'
or 'S.A.'. Names in Chinese characters may also be recorded.
14) It is not necessary to issue shares of the company, unless the Board
of directors decides so.
15) The IBC can be dissolved by resolution of the Board of directors, if
no shares have been issued. In case that the shares have been issued, the
company must be dissolved through a shareholders resolution.
16) All the dividends, interest, rents, royalties, compensations and
other amounts paid by company established under the IBC Act to persons that are
non-residents of BVI are exempt from payment of income tax. The capital gains
earned from the sale of whatever shares or other securities of an IBC are also
exempt from payment of any tax.
Final Opinion
We are reporting upon a finance and investments company which belongs to
foreign shareholders. Although it is registered in the British Virgin Islands,
it uses such territory only as its legal and administrative address, but all
its operations are carried out abroad. It is managed by a resident registration
agent and it is unknown in the marketplace, so its commercial morality and
general reputation cannot be assessed, although nothing detrimental is noted
upon subject. As there are no visible assets, and taking into account also that
it is unknown as making use of credit facilities, credit in general must be
regarded as a matter of confidence, and amounts of certain importance would
have to be secured by collateral.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.85 |
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UK Pound |
1 |
Rs.96.73 |
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Euro |
1 |
Rs.76.53 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
SHG |
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 |
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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.