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Report No. : |
356574 |
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Report Date : |
24.12.2015 |
IDENTIFICATION DETAILS
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Name : |
INDIA
HOUSE GROUP SA |
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Registered Office : |
Route Suisse 26, 1163
Etoy/VD |
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Country : |
Switzerland |
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Date of Incorporation : |
28.09.1998 |
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Com. Reg. No.: |
550.0.058.625-2 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Retail sale of furniture, lighting equipment and other household
articles in specialised stores |
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No. of Employees : |
10 |
RATING & COMMENTS
|
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 : |
Slow but correct |
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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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
SWITZERLAND - ECONOMIC
OVERVIEW
Switzerland is a peaceful, prosperous, and modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world. Switzerland's economy benefits from a highly developed service sector, led by financial services, and a manufacturing industry that specializes in high-technology, knowledge-based production. Its economic and political stability, transparent legal system, exceptional infrastructure, efficient capital markets, and low corporate tax rates also make Switzerland one of the world's most competitive economies.
The Swiss have brought their economic practices largely into conformity with the EU's to enhance their international competitiveness, but some trade protectionism remains, particularly for its small agricultural sector. The fate of the Swiss economy is tightly linked to that of its neighbors in the euro zone, which purchases half of Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled demand for Swiss exports and put Switzerland into a recession. During this period, the Swiss National Bank (SNB) implemented a zero-interest rate policy to boost the economy, as well as to prevent appreciation of the franc, and Switzerland's economy began to recover in 2010.
The sovereign debt crises unfolding in neighboring euro-zone countries, however, coupled with ongoing economic instability in Russia and other eastern European economies continue to pose a significant risk to the Swiss economy, driving up demand for the Swiss franc by investors seeking a safe-haven currency. In January 2015, the SNB abandoned the Swiss franc’s peg to the Euro, roiling global currency markets and making active SNB intervention a necessary hallmark of present-day Swiss monetary policy. The independent SNB has upheld its zero interest rate policy and conducted major market interventions to prevent further appreciation of the Swiss franc, but parliamentarians have urged it to do more to weaken the currency. The franc's strength has made Swiss exports less competitive and weakened the country's growth outlook; GDP growth fell below 2% per year from 2011-14.
In recent years, Switzerland has responded to increasing pressure from neighboring countries and trading partners to reform its banking secrecy laws, by agreeing to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. The Swiss government has also renegotiated its double taxation agreements with numerous countries, including the US, to incorporate OECD standards, and is openly considering the possibility of imposing taxes on bank deposits held by foreigners.
|
Source
: CIA |
INDIA HOUSE GROUP SA
Operating address:
Route Suisse 26
1163 Etoy/VD
Switzerland/CH
Fax: 022
3612303
Mobile: 079
5070415
Web site: http://www.india-house.ch
E-mail: indiahouse@india-house.ch
WIN Worldbox No.: CH0003474349
VAT-No.: CHE-106.840.051
MWST
UID-No.: CHE106840051
Established: 1998
Line of Business: Retail stores
Industry Division: Retail trade
Industry-code (NACE): 4759 Retail sale of
furniture, lighting equipment and other household articles in specialised
stores
Import/Export: Import
Banks: unknown
Coverage: Company
Figures: estimated
Financial year: 2015
Employees: 10
The company sells
high class furniture, carpets and handicrafts under the brand name of India
House, Makhni STYLE and Sgline.
Branches:
NYON : Grand - Rue 10,
1260 Nyon
Tel : +41 22 361 20 23,
Fax : +41 22 361 23 03
MORGES : Rue Louis de
Savoie 26/28, 1110 Morges
Tel : +41 21 801 22
44, Fax : +41 21 801 29 42
Information on property
ownership was not available.
Company No: 550.0.058.625-2
UID-No.: CHE106840051
Legal form: Company
limited by shares
Registration: 28.09.1998
Legal status: active
Responsible Register: Registre du commerce du canton de Vaud
History: Date
of Statutes: 07.10.2014
Date
of Statutes: 23.05.2011
Date
of Statutes: 29.06.2009
Date
of Statutes: 13.09.2006
Date
of Statutes: 13.09.2005
Date
of Statutes: 07.02.2005
Date
of Statutes: 13.08.2001
Date
of Statutes: 12.10.1998
Date
of Incorporation Statutes: 25.09.1998
Entry Deleted Name
20.06.2011 India
House Group SA
28.09.1998 20.06.2011 India House S.à r.l.
Entry Deleted Legal domicile
20.06.2011 Etoy,
Switzerland
19.09.2006 20.06.2011 Mont-sur-Rolle, Switzerland
24.03.2005 19.09.2006 Morges, Switzerland
22.08.2001 24.03.2005 Saint-Sulpice (VD), Switzerland
28.09.1998 22.08.2001 Châtillens, Switzerland
Entry Deleted Address
20.06.2011 Route
Suisse 26, 1163 Etoy/VD, Switzerland/CH
19.09.2006 20.06.2011 c/o Manmohan Singh et Balwinder Makhni, Chemin
des Muscadelles 2, 1185 Mont-sur-Rolle/VD, Switzerland/CH
24.03.2005 19.09.2006 c/o Balwinder Makhni, Route de Lausanne 54 A,
1110 Morges/VD, Switzerland/CH
22.08.2001 24.03.2005 c/o Balwinder Makhni, Chemin du Russel 11,
1025 St-Sulpice/VD, Switzerland/CH
28.09.1998 22.08.2001 c/EFSA, Aux Mollienches, 1502 Châtillens/VD,
Switzerland/CH
Entry Deleted Capital
20.06.2011 Share
Capital CHF 500,000, paidup CHF 500,000
21.09.2005 20.06.2011 LLC Capital CHF 200,000, paidup CHF 200,000
Entry Deleted Capital Structure
20.06.2011 5,000
Registered shares of CHF 100.--
21.07.2009 20.06.2011 2,000 Participation shares of CHF 100.--
Title Name
President Manmohan
Singh Makhni
Citizen:
India
Residential
address: Mont-sur-Rolle, Switzerland
single
signature
Registered
since: 28.09.1998
Director Balwinder
Makhni
Citizen:
India
Residential
address: Mont-sur-Rolle, Switzerland
single
signature
Registered
since: 03.07.2000
Title Name
Auditor Jean-Jacques
Reato, expert-réviseur agréé
Residential address:
Villeneuve /VD, Switzerland
Id:
CH-550-0048051-3
Registered
since: 16.12.2013
No. of owner/-s: 2
Owner: The
company is in family ownership.
Class: 50%
Name: Balwinder
Makhni
City/Country: Mont-sur-Rolle
, Switzerland/CH
Interest: 50,00%
voting right, 50,00% capital interest
Class: 50%
Name: Manmohan
Singh Makhni
City/Country: Mont-sur-Rolle,
Switzerland/CH
Interest: 50,00%
voting right, 50,00% capital interest
It is believed that
the company has no investments.
Balance sheet
publication:
The subject company
does not publish balance sheet or turnover figures.
Control date Year No. Amount CHF Status
19.10.2010 2010 0 Legal
actions
31.12.2009 2009 0 Legal
actions
31.12.2008 2008 0 Legal
actions
Official bankruptcy
reports:
No bankruptcy
publications available on the subject.
An updated legal
action check is only available against proof of interest. e.g. a copy of an
enquiry letter, and order or invoice relating to the subject company.
Payment experiences
from pre-legal collection cases:
No payment
experiences from pre-legal collection cases are available.
Payment experiences
from collection cases:
No payment
experiences from legal collection cases are available.
Mode of payment /
Business conduct:
There are no
complaints about the mode of payment and the business conduct.
Financial Statements: The company does not disclose any financial statements. Third parties
are not permitted any insight into the financial affairs. It is therefore
difficult to make a proper assessment of the actual situation.
Financial Situation: The financial situation is considered to be in order.
Payment experiences: There are no objections regarding the payment of financial
obligations.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.20 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
|
CHF |
1 |
Rs.66.94 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
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 |
|
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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 |
|
|
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 |
|
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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.