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Report Date : |
05.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
BALAJI VENTURES LANKA (PVT) LTD |
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Registered Office : |
# 156, Tittapajjala, 5th Mile Post, Kurunegala Road, Werellegama |
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Country : |
Sri Lanka |
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Date of Incorporation : |
19.07.2012 |
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Com. Reg. No.: |
PV 87130 |
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Legal Form : |
Private Limited Liability Company
(In Operation) |
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Line of Business : |
Exporters of Spices |
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No. of Employees : |
Approx.10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Sri Lanka |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
SRI LANKA - ECONOMIC OVERVIEW
Sri Lanka continues to
experience strong economic growth following the end of the 26-year conflict with
the Liberation Tigers of Tamil Eelam. The government has been pursuing
large-scale reconstruction and development projects in its efforts to spur
growth in war-torn and disadvantaged areas, develop small and medium
enterprises and increase agricultural productivity. The government's high debt
payments and bloated civil service have contributed to historically high budget
deficits, but fiscal consolidation efforts and strong GDP growth in recent
years have helped bring down the government's fiscal deficit. However, low tax
revenues are a major concern. The 2008-09 global financial crisis and recession
exposed Sri Lanka's economic vulnerabilities and nearly caused a balance of
payments crisis. Agriculture slowed due to a drought and weak global demand affected
exports and trade. In early 2012, Sri Lanka floated the rupee, resulting in a
sharp depreciation, and took steps to curb imports. A large trade deficit
remains a concern, but strong remittances from Sri Lankan workers abroad help
offset the trade deficit. Government debt of about 80% of GDP remains among the
highest in emerging markets.
|
Source
: CIA |
Basic information at a glance
|
a. |
Name of Subject of Inquiry |
: |
BALAJI VENTURES LANKA (PVT) LTD |
|
b. |
Legal Form & Status |
: |
Private Limited Liability Company
(In Operation) |
|
c. |
Managing Director |
: |
Ganesh Gopal Ahuja
(Indian) |
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d. |
Primary Line of Business |
: |
Exporters of Spices |
|
e. |
Place of Business |
: |
# 156, Tittapajjala, 5th Mile Post, Kurunegala Road, Werellegama, Sri
Lanka. Mob. No: (00 94 77)
0404379 (Mr. Majunath – General Manager) E Mail: info@balajispices.com |
|
f. |
No. of Employees |
: |
Approx.10 |
Registration and
Shareholder Details
|
a. |
Registration No |
: |
PV 87130 |
|||
|
Registration Date |
: |
19th July 2012 |
||||
|
c. |
Registered Office |
: |
# 156, Tittapajjala, 5th Mile
Post, Kurunegala Road, Werellegama |
|||
|
d. |
Board of Directors As At 19th July
2012 |
: |
Ganesh Gopal Ahuja |
Managing Director |
||
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Issued Share Capital |
: |
Rs. 34,604,000.00 |
||||
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No. Of Shares |
: |
346,040 |
||||
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f. |
Nominal Value of Share |
: |
Not applicable vide Companies Act #7 of 2007. |
|||
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g. |
Share Holders As At 19th July 2012 |
|
Share Holders |
No. of Shares |
||
|
K – Spice (Pvt) Ltd |
346,031 |
|||||
|
Ganesh Gopal Ahuja
(Indian) |
09 |
|||||
|
h. |
Auditors |
: |
Not Disclosed |
|||
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i. |
Company Secretaries |
: |
Spillburg Holdings (Pvt) Ltd |
|||
|
j. |
Bankers |
: |
-Not Disclosed- |
|||
Most recent available Financial Information
Based
on the corporate laws of Sri Lanka, legal entities which are Private Company
with Limited Liability is not required
to make public disclosure of their annual financials. Therefore no financials
are available for this entity
History.
The Subject Company BALAJI VENTURES LANKA (PVT) LTD is a Private Limited Liability Company incorporated on 19th
July 2012 under the registration number
PV 87130.
Subject
Company is an approved venture by the Board of Investment of Sri Lanka (BOI).
It
is a subsidiary of K – Spice (Pvt) Ltd.
Location.
The Subject Company is located at the client # 156, Tittapajjala, 5th Mile Post, Kurunegala Road,
Werellegama, a town in the Central Province, approx. 130 kilo meters from
Colombo. It is a predominantly spices growing area.
Operations
Details.
General
The subject company primary line of business is buying and exporting of Spices. They buy products
directly from the farmers.
Products
Cardiman
Cinnamon
Pepper
Export
Countries
India, European Countries
No
of Employees
Approx.10
Director’s Details
01)
|
Name |
Ganesh Gopal Ahuja |
|
PP Number |
Z 2200065 |
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Nationality |
Indian |
Financial Data
Based on the corporate laws of Sri Lanka, legal entities which are
Private Company with Limited Liability
is not required to make public disclosure of their annual financials. Therefore no financials are available for this entity
Trade references
Not Available
Credit Recommendations
Since no financial information has been forthcoming from the company, it
is not possible to comment on the merits or otherwise of the company.
No computerised data bases exist to make
checks whether the partners or the company has any legal action or lawsuit
initiated against any of them but informal (but not in-depth) checks do not
indicate any such cases in the public knowledge.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.34 |
|
|
1 |
Rs.99.18 |
|
Euro |
1 |
Rs.80.76 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
|
|
Report Prepared
by : |
NNA |
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 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.