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Report No. : |
326129 |
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Report Date : |
15.06.2015 |
IDENTIFICATION DETAILS
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Name : |
SONAL BROTHERS (PVT) LTD |
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Registered Office : |
# 03, Kothalawela Place, Colombo-04 |
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Country : |
Sri lanka |
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Date of Incorporation : |
05.03.2014 |
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Com. Reg. No.: |
PV 97382 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is Import & distribution of Food Items |
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No. of Employee : |
Not available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Sri lanka |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 |
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 |
|
a. |
Name of Subject of Inquiry |
: |
SONAL BROTHERS
(PVT) LTD |
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b. |
Legal Form
& Status |
: |
Private
Limited Liability Company (In Operation) |
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c. |
Managing Director |
: |
Sonal Deepak
Kumar Vasanji |
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d. |
Primary
Line of Business |
: |
Import
& distribution of Food Items |
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e. |
Place
of Business |
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#
03, Kothalawela Place, Colombo-04 Tel:
(00 94 11) 250 8144 Fax:
(00 94 11) 242 4444 E-Mail:
dkvasanji@gmail.com |
|
f. |
No.
of Employees |
: |
Not
Disclosed. |
Registration and Shareholder Details
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a. |
Registration No |
: |
PV 97382 |
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b. |
Date of
Registration |
: |
05th
March 2014 |
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c. |
Registered
Address |
: |
#03 , Kotalawala
Place, Colombo-04 |
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d. |
Board of
Directors As at 01s t October 2014 |
: |
Sonal Deepak
Kumar Uasanji |
Managing
Director |
|
Deepak Kumar Krishnakumar Uasanji |
Director |
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e. |
Issued Share Capital |
: |
Rs. 1,000.00 |
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f. |
No. of Shares |
: |
100 |
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g. |
Nominal Value of
Share |
|
Not applicable
vide Companies Act #7 of 2007 |
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h. |
Share Holders As at 01st October 2014 |
: |
Share Holders |
No. of
Shares |
|
Sonal Deepak
Kumar Vasanji |
100 |
|||
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i. |
Company Secretaries |
: |
Business
Allied Services (Pvt) Ltd (#17
2/1, Rodney Street , Colombo-08) |
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j. |
Auditors |
: |
Not
Disclosed |
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k. |
Bankers |
: |
DFCC
Bank |
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The company has
declined to provide information on its finances
Note: Based on the corporate laws of Sri Lanka, legal entities which
are Private Company with Limited Liability are not required to make public
disclosure of their annual financials. Therefore no financials are available
for this entity
·
History.
The Subject Company SONAL BROTHERS (PVT) LTD is a Private Limited Liability Company incorporated on 5th March 2014 under
registration number PV 97382.
.
·
Location.
The Subject Company’s located at the .No:03, Kotalawala Place, Colombo 04, Sri Lanka.
General
The subject
company’s primary line of business is Import
and Distribution of food items
Products
Many types of food
items such as Potatoes, onions etc.
Importing Country
China, India,
Pakistan, Bangladesh
Employees
Not disclosed
01)
|
Name |
Sonal
Deepak Kumar Vasanji |
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ID Number |
960243218 V |
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Nationality |
Sri Lankan |
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Gender |
Male |
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Date of Birth |
26th January 1996 |
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Age |
19 Years |
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Address |
# 03, Kotalawala Place, Colombo-04 |
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02)
|
Name |
Deepak
Kumar Krishnakumar Vasanji |
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ID Number |
6613620570 V |
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Nationality |
Sri Lankan |
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Gender |
Male |
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Date of Birth |
15th May 1966 |
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Age |
49 Years |
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Address |
# 05, Kothalawela Place, Colombo-04 |
The subject company did not provide any trade references
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
Management non-cooperative (Tel. No. : 009411-2508144)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.03 |
|
|
1 |
Rs.99.27 |
|
Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
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Information
Gathered by : |
DPA |
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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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.