|
Report Date : |
16.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SMILES ASSOCIATES |
|
|
|
|
Registered
Office : |
D-5/515, Vakratunda CHS, Sector – 5, Charkop, Behind Apana Bazar, Kandivali (West), Mumbai – 400067, |
|
|
|
|
Country : |
|
|
|
|
|
Date of
Incorporation : |
01.04.21014 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Will work as a service provider for Due Diligence reports for the Bank
and Corporate. |
|
|
|
|
No. of Employees
: |
4 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Concern |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new partnership concern. Mrs. Shruti Kadam (Partner) has provided us with general information and
she also confirmed that the concern has not yet started its business
activity. Payment terms are unknown. The concern can be considered for business dealings on a safe and
secured 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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
|
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
NEWS
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before.A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding
General Motors will start exporting vehicles from
its Talegaon plant near Pune in the second half of 2014. GM was one of the few
global carmakers that was using its
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mrs. Shruti Kadam |
|
Designation : |
Partner |
|
Contact No.: |
91-9820697167 |
|
Date : |
14.07.2014 |
LOCATIONS
|
Registered Office : |
D-5/515, Vakratunda CHS, Sector – 5, Charkop, Behind Apana Bazar, Kandivali (West), Mumbai – 400067, |
|
Tel. No.: |
91-22-28684747/ 65344649 |
|
Mobile No.: |
91-9820697167 (Mrs. Shruti Kadam) |
|
Fax No.: |
Not Available |
|
E-Mail : |
PARTNERS
|
Name : |
Mrs. Shruti Milind Kadam |
|
Designation : |
Partner |
|
Address : |
D-5/515, Vakratunda CHS, Sector – 5, Charkop, Behind Apana Bazar, Kandivali (West), Mumbai – 400067, |
|
Date of Birth/Age : |
04.05.1971 |
|
PAN No.: |
BJDPK1832R |
|
|
|
|
Name : |
Ms. Sandhya Madhukar Kadam |
|
Designation : |
Partner |
|
Address : |
A-506, Shradhha CHS, New Shastri Nagar, Goregaon (West), Mumbai –
400104, |
|
Date of Birth/Age : |
15.09.1969 |
|
PAN No.: |
AGRPK9074H |
|
|
|
|
Name : |
Mrs. Marian Shaktivel Kounder |
|
Designation : |
Partner |
|
Address : |
D-716, Shitla Devi Co-Operative Housing Society, Off New Link Road, D.
N. Nagar, J P Road, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
22.11.1977 |
|
PAN No.: |
AUIPK9916B |
BUSINESS DETAILS
|
Line of Business : |
Will work as a service provider for Due Diligence reports for the Bank
and Corporate. |
|
|
|
|
Terms : |
|
|
Selling : |
Advance Payment |
|
|
|
|
Purchasing : |
Cash and Advance Payment |
GENERAL INFORMATION
|
No. of Employees : |
4 (Approximately) |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Facilities : |
-- |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Divulged |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
Not Divulged |
|
Total : |
Not Divulged |
FINANCIAL DATA
[All figures are
in Rupees Millions]
NEW CONCERN
Note: Sole Proprietary 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 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 |
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 |
No |
|
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 |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
------------------------------------------------------------------------------------------------------------------------------
LOCATION OF BUSINESS
PREMISES:
The office is located at
Charkop Kandivali in a market place. Area of office is 400 sq. ft, equipped
with PC, Printer and Internet connection and sufficient staff to handle the
work.
PROFILE:
Concern is a Partnership
Firm 'established to work in the area of Banking and Financial Sector.
EXPERIENCE:
One of the Partners, Mrs. Shruti
M. Kadam a graduate from SNDT, is having 4 year’s experience as a Manager in
AIMS Associate, a company doing Due Diligence Verification Work, where she was
mainly handling work related to Due Diligence Verification to Bank of India and
other Financial Institutions like GIC and LIC. Besides she also has total work
experience of 10 year since-2003, in the related field. She is also proficient
with computer applications. Other two partners will assist her in the work of
the firm and will help to establish the business.
PROPOSAL:
They have come up with an
aim to excel in the area of their strength i.e. the avenue of Service Provider for
verification job. We therefore, request your well-known and esteemed
organization to appoint us as your service
provider for verification jobs of Housing loans and other loan
products. Considering the experience, they are confident of doing the work with
diligence. This is really an opportunity to us hence, we request your good
selves to appoint us as your Service Provider for verification job.
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF TOTAL INCOME
(MRS. MARIAN SHAKTIVEL
KOUNDER)
(RS. IN MILLIONS)
|
Particulars |
2013-2014 |
|
|
1] Income from
Business |
|
|
|
Net Profit as
per Profit and Loss Account |
0.199 |
|
|
Add:
Depreciation considered separately |
0.002 |
|
|
|
0.201 |
|
|
Less:
Depreciation U/s 32 |
0.002 |
0.199 |
|
|
|
|
|
2] Income from
Other sources |
|
|
|
Interests from
Fixed Deposit |
|
0.022 |
|
|
|
|
|
Total Income |
|
0.221 |
|
|
|
|
|
Rounded Off To |
|
0.221 |
|
|
|
|
|
Tax Position |
|
|
|
|
|
|
|
Tax on Total
Income |
|
0.002 |
|
Add: Education Cess @ 3% |
|
0.000 |
|
|
|
|
|
Total Tax
Payable |
|
0.002 |
|
Less: Tax
Deducted at Source |
|
0.002 |
|
|
|
|
|
Tax Payable /
Refundable |
|
NIL |
MRS.
MARIAN SHAKTIVEL KOUNDER
BALANCE SHEET
(RS. IN MILLIONS)
|
SOURCES OF FUNDS |
|
|
31.03.2013 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.609 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
0.609 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.609 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.017 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.324 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.033 |
|
|
Sundry Debtors |
|
|
0.038 |
|
|
Cash & Bank Balances |
|
|
0.197 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.000 |
|
Total
Current Assets |
|
|
0.268 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.000 |
|
|
Net Current Assets |
|
|
0.268 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.609 |
|
PROFIT & LOSS ACCOUNT
(RS. IN MILLIONS)
|
|
PARTICULARS |
|
|
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
0.516 |
|
|
|
Other Income |
|
|
0.000 |
|
|
|
Closing Stock |
|
|
0.033 |
|
|
|
TOTAL |
|
|
0.549 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials Purchases |
|
|
0.272 |
|
|
|
Salary and Wages |
|
|
0.043 |
|
|
|
Conveyance and Transportation Expenses |
|
|
0.011 |
|
|
|
Telephone and Mobile Charges |
|
|
0.008 |
|
|
|
Electricity Charges |
|
|
0.004 |
|
|
|
Printing and Stationery |
|
|
0.002 |
|
|
|
Professional Fees |
|
|
0.003 |
|
|
|
Staff Welfare Expenses |
|
|
0.003 |
|
|
|
Sundry Expenses |
|
|
0.002 |
|
|
|
TOTAL |
|
|
0.348 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
0.201 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.002 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
|
0.199 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2013 |
|
PAT / Total Income |
(%) |
|
|
36.25 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
38.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
69.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
0.00 |
------------------------------------------------------------------------------------------------------------------------------
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.60.22 |
|
|
1 |
Rs.102.79 |
|
Euro |
1 |
Rs.81.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.