MIRA INFORM REPORT

 

 

Report No. :

306835

Report Date :

09.02.2015

 

IDENTIFICATION DETAILS

 

Name :

ACCURATE STRIPS AND TUBES

 

 

Registered Office :

38 KM Stone, Delhi Rohtak Road, HSIIDC Industrial Area, Jhajjar, Bahadurgarh – 124507, Haryana

 

 

Country :

India

 

 

Financials (as on) :

May 2014 to January 2015

 

 

Year of Establishment :

January 2014

 

 

Capital Investment :

Rs. 3.000 Millions [Estimated]

 

 

TIN No.:

06191709912

 

 

PAN No.:

[Permanent Account No.]

AEIPG5013R

 

 

Legal Form :

Sole Proprietary Concern

 

 

Line of Business :

Manufacturer and Trader of Cold Rolled Strip, ERW Precision Pipes for Auto and Furniture Industry and Home Products like Iron Board.

 

 

No. of Employees :

18 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

 

PROPOSED CREDIT LINE

-

NB

                                       New Business

-

 

 

Status :

New Business

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is a new proprietary concern incorporated on January 2014, and it is establishing itself gradually.

 

Mr. Rachit Gupta, Proprietor has provided general information to us and claimed that the concern has achieved sales turnover of Rs. 45.000 Millions in its first year of business operations which is not verified.

 

However, trade relations are improving. Business is active. Payment terms are unknown.

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

NOT AVAILABLE

 

 

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 :

Mr. Rachit Gupta

Designation :

Proprietor

Contact No.:

91-9212717644

Date :

06.02.2015

 

 

LOCATIONS

 

Registered Office :

38 KM Stone, Delhi Rohtak Road, HSIIDC Industrial Area, Jhajjar, Bahadurgarh – 124507, Haryana, India

Tel. No.:

Not Available

Mobile No.:

91-9212717644 [Mr. Rachit Gupta]

Fax No.:

Not Available

E-Mail :

accurate.strips@gmail.com

Location :

Owned

 

 

SOLE PROPRIETOR

 

Name :

Mr. Rachit Gupta

Designation :

Proprietor

Address :

Delhi, India

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Trader of Cold Rolled Strip, ERW Precision Pipes for Auto and Furniture Industry and Home Products like Iron Board.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

--

Countries :

--

 

 

Imports :

 

Products :

--

Countries :

--

 

 

Terms :

 

Selling :

Cash and Credit [30 Days]

 

 

Purchasing :

Cash and Credit [30 Days]

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Retailers and Others

 

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

18 (Approximately)

 

 

Bankers :

·         HDFC Bank Limited

Delhi, India

 

 

Facilities :

--

 

 

 

Banking Relations :

--

 

 

Auditors :

Not Available

 

 

Associates/Subsidiaries :

·         Rakesh Steel Trader

Address: Delhi, India

Activity: Steel Trader

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Capital Investment :

 

Owned :

Rs. 3.000 Millions [Estimated]

Borrowed :

--

Total :

Rs. 3.000 Millions [Estimated]

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

PARTICULARS

 

 

 

May 2014 to January 2015

Sales Turnover (Approximately)

 

 

45.000

 

 

 

 

 

The above information has been parted by Mr. Rachit Gupta [Proprietor]

 

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

No

8]

No. of employees

Yes

9]

Name of person contacted

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last one year

Yes

12]

Profitability for last one year

No

13]

Reasons for variation <> 20%

--

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

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

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

No

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, India Prisons Service, Interpol, etc.

 

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. 61.74

UK Pound

1

Rs. 94.65

Euro

1

Rs. 70.79

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

BVA

 

 

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

 

--

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.