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Report No. : |
308489 |
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Report Date : |
19.02.2015 |
IDENTIFICATION DETAILS
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Name : |
ASCEND EXPORT AND IMPORTS |
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Registered
Office : |
No.2/78, Bharathiyar Street, Veerapuram and Post, Avaid – Via, Chennai
- 600055, Tamilnadu |
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Country : |
India |
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Year of
Establishment: |
2013 |
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Capital
Investment / Paid-up Capital : |
About Rs.0.100 Million |
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IEC No.: |
0413013375 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAXFA7304G |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
: |
Trader and Exporter of Agro Products (Coconut Related Products) Like
Virgin Coconut Oil, Tender Coconut, Desiccated Coconut etc. |
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No. of Employees
: |
5 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 280 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new partnership concern having moderate track.
Mrs. Aishwarya Balaji, Partner has provided general information to us
and denied to disclose any financial information to us. However, trade relations are improving. Business is active. Payment
terms are unknown. The concern can be considered for business dealing with some caution. |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
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 |
EXTERNAL AGENCY RATING
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Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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Date |
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 (General Details)
|
Name : |
Mrs. Aishwarya Balaji |
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Designation : |
Partner |
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Contact No.: |
91-9884480172 |
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Date : |
18.02.2015 |
LOCATIONS
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Registered Office : |
No.2/78, Bharathiyar Street, Veerapuram and Post, Avaid – Via, Chennai
- 600055, Tamilnadu, India |
|
Tel. No.: |
91-44-26841805 |
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Mobile No.: |
91-9884480172 (Mrs. Aishwarya Balaji) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Area : |
100 sq. ft. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. V. Balaji |
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Designation : |
Partner |
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Date of Birth/Age : |
32 years |
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Qualification : |
BE Mech. Engg. |
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Experience : |
10 years |
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Name : |
Mr. Govarthanan |
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Designation : |
Partner |
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Date of Birth/Age : |
52 years |
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Qualification : |
DIP Agriculture |
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Experience : |
30 years |
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Name : |
Mrs. Aishwarya Balaji |
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Designation : |
Partner |
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Date of Birth/Age : |
28 years |
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Qualification : |
M.Sc. Intergrated Computer |
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Experience : |
5 years |
BUSINESS DETAILS
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Line of Business : |
Trader and Exporter of Agro Products (Coconut Related Products) Like Virgin
Coconut Oil, Tender Coconut, Desiccated Coconut etc. |
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Products : |
· Virgin Coconut Oil · Coconut Water · Desiccated Coconut · Tender Coconut · Bitter Apricot Kernel · Spirulina · Green Gherkins |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Agro Products |
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Countries : |
Canada and Thailand |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Credit (30 days) |
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Purchasing : |
Cheque + 50 days Advance |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
5 (Approximately) |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. Sridhar Chartered Accountant |
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Address : |
Annanagar, Chennai, Tamilnadu, India |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Sister Concern: |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
About Rs.0.100 Million |
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Borrowed : |
-- |
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Total : |
About Rs.0.100 Million |
FINANCIAL DATA
[All figures are
in Rupees Millions]
NOT DIVULGED
The above information has been denied by Mrs. Aishwarya Balaji.
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 |
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2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
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4] |
Premises details |
Yes |
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5] |
Type of Business |
Yes |
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6] |
Line of Business |
Yes |
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7] |
Promoter's background |
Yes |
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8] |
No. of employees |
Yes |
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9] |
Name of person contacted |
Yes |
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10] |
Designation of contact
person |
Yes |
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11] |
Turnover of firm for last
three years |
No |
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12] |
Profitability for last
three years |
No |
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13] |
Reasons for variation
<> 20% |
-- |
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14] |
Estimation for coming financial
year |
No |
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15] |
Capital in the business |
Yes |
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16] |
Details of sister
concerns |
No |
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17] |
Major suppliers |
No |
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18] |
Major customers |
No |
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19] |
Payments terms |
Yes |
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20] |
Export / Import details
(if applicable) |
Yes |
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21] |
Market information |
-- |
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22] |
Litigations that the firm
/ promoter involved in |
-- |
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23] |
Banking Details |
Yes |
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24] |
Banking facility details |
No |
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25] |
Conduct of the banking
account |
-- |
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26] |
Buyer visit details |
-- |
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27] |
Financials, if provided |
No |
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28] |
Incorporation details, if
applicable |
No |
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29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
No |
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31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
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 |
Yes |
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 records 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.62.25 |
|
|
1 |
Rs.95.57 |
|
Euro |
1 |
Rs.71.01 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL
CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILITY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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DEFAULTER |
|
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--RBI |
YES/NO |
NO |
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--EPF |
YES/NO |
NO |
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TOTAL |
|
26 |
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%)
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.