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MIRA INFORM REPORT
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Report No. : |
488765 |
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Report Date : |
06.02.2018 |
IDENTIFICATION DETAILS
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Name : |
PRO AUDIO VISION |
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Registered
Office : |
40-5-18, Siddhartha College Road, Near P.D. Siddhartha Art College,
Siddhartha Nagar, Labbipet, Vijaywad – 520010, Andhra Pradesh |
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Mobile No.: |
91-9848121786 [Mr. Shaik] |
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Country : |
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Financials (as
on) : |
Not Divulged |
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Year of
Establishment : |
Not Divulged |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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IEC No.: |
Not Divulged |
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GSTIN No.: |
Not Divulged |
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TIN No.: |
Not Divulged |
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PAN No.: [Permanent Account No.] |
Not Divulged |
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Legal Form : |
Sole Proprietary Concern |
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Line of Business
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Dealer of
Home Theatre System, Audio System. [From Indirect Sources] |
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No. of Employees
: |
4 (Approximately) [As per site visit] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Mr. Shaik Rasheed (Proprietor) denied to provide any information about the subject. However, as per indirect source we could find that the subject is a proprietorship concern and it is engaged as dealer of home theatre systems, audio system, etc. No other information could be made available from any other sources. Rating gets constrained on account of lack of requisite information to evaluate risk associated with the subject. Payments seems to be unknown. In view of aforesaid, the subject can be considered for business dealings at fully safe and secured terms and conditions. Note 1: Site visit was conducted on the given address and our executive have successfully traced the subject. Our executive met “Mr. Shaik Rasheed” and he claimed to be the shop owner of the subject, further he claimed that Standard Electronics and Pro Audio Vision both companies belongs to him, but Pro Audio Vision has been shifted to “40-5-18, Siddhartha College Road, Near P.D Siddhartha Art College, Siddharth Nagar, Labbipet, Vijayawada, Andhra Pardesh-520010” since last 2 years. As per our executive observation, it is 2 storey building and subject is situated on ground floor. Area of the premises is approximately 500 SQ.FT. Location was easy to find. Locality seems to be commercial and area near the premises seems to be upmarket. Landmark- Swarna Palace. Our executive have sighted the name board of “Standard Electronics” at the given address. On enquiry with Security Guard (Name not Divulged) from “Swarna Palace” and one neighbour (Name not Divulged) from “Sri Parameshwara Traders” both the person from neighbouring companies confirmed the existence of the subject on the given address. Note 2: Site visit was conducted on the new address i.e “40-5-18, Siddhartha College road, near P.D Siddhartha Art College, Siddharth Nagar, Labbipet, Vijayawada, Andhra Pardesh-520010” and our executive have successfully traced the subject. Where our executive met Mr. Basha (Designation not divulged) provided his contact number (#07207256914). As per our executive observation, it is a 1 storey building and the subject is situated on ground floor. Location is easy to find near “P.D Siddhartha Art College” Locality seems to be commercial and the area near the premises seems to be upmarket. Further our executive have sighted approximately 4 employees at the premises and sighted computer and furniture items. Even, the name board of the subject company was sighted on the given premise address. Note 3: As per the contact detail provided by “Mr. Basha”, our executive contacted him and he only confirmed that he is the manager of the subject and further, denied to provide any information. |
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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 06.02.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
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Name : |
Mr. Shaik Rasheed |
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Designation : |
Proprietor |
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Contact No.: |
91-9848121786 |
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Name : |
Mr. Basha |
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Designation : |
Manager |
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Contact No.: |
91-7207256914 |
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Date : |
03.02.2018 |
LOCATIONS
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Registered Office : |
40-5-18, Siddhartha College Road, Near P.D. Siddhartha Art College, Siddhartha
Nagar, Labbipet, Vijaywad – 520010, Andhra Pradesh, India |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9848121786 [Mr. Shaik] 91-7207256914/ 9100037316 [Mr. Basha] |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
Not Available |
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Locality : |
Commercial [As per site visit] |
SOLE PROPRIETOR
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Name : |
Mr. Shaik Rasheed |
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Designation : |
Proprietor |
KEY EXECUTIVES
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Name : |
Mr. Basha |
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Designation : |
Manager |
BUSINESS DETAILS
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Line of Business : |
Dealer of
Home Theatre System, Audio System. [From Indirect Sources] |
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Products/ Services : |
JBL |
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Brand Names : |
Not Available |
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Agencies Held : |
JBL |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash and Bank Transfer |
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Purchasing : |
Cash and Bank Transfer |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
4 (Approximately) (As per site visit) |
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Bankers : |
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Auditors : |
Not Divulged |
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Collaborators : |
Not Available |
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Membership : |
Not Available |
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Sister Concern : |
Standard Electronics |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
-- |
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Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
INR Million]
NOT DIVULGED
The above information has been denied by Mr. Shaik Rasheed (Proprietor)
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
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Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
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1 |
Year of establishment |
Yes |
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2 |
Constitution of the entity -Incorporation
details |
Yes |
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3 |
Locality of the entity |
Yes |
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4 |
Premises details |
No |
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5 |
Buyer visit details |
Yes |
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6 |
Contact numbers |
Yes |
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7 |
Name of the person contacted |
Yes |
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8 |
Designation of contact person |
Yes |
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9 |
Promoter’s background |
No |
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10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
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11 |
Pan Card No. of Proprietor / Partners |
No |
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12 |
Voter Id Card No. of Proprietor / Partners |
No |
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13 |
Type of business |
Yes |
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14 |
Line of Business |
Yes |
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15 |
Export/import details (if applicable) |
No |
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16 |
No. of employees |
Yes |
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17 |
Details of sister concerns |
Yes |
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18 |
Major suppliers |
No |
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19 |
Major customers |
No |
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20 |
Banking Details |
No |
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21 |
Banking facility details |
No |
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22 |
Conduct of the banking account |
-- |
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23 |
Financials, if provided |
No |
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24 |
Capital in the business |
No |
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25 |
Last accounts filed at ROC, if applicable |
No |
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26 |
Turnover of firm for last three years |
No |
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27 |
Reasons for variation <> 20% |
-- |
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28 |
Estimation for coming financial year |
No |
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29 |
Profitability for last three years |
No |
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30 |
Major shareholders, if available |
No |
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31 |
External Agency Rating, if available |
No |
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32 |
Litigations that the firm/promoter
involved in |
-- |
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33 |
Market information |
-- |
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34 |
Payments terms |
Yes |
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35 |
Negative Reporting by Auditors in the
Annual Report |
No |
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OBSERVATION POINTS 1 |
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Name of Company : |
PRO AUDIO VISION |
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Address : |
27-6-201, Prakasam Road, Opposite
Hotel Swarna Palace, Bajarang Complex, Vijaywada – 520002, Andhra
Pradesh, India |
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Contact No.: |
9848121786 |
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Person to whom we met: |
Mr. Shaik Rasheed |
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Designation : |
Proprietor |
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Name Board : |
Not Sighted [Sighted name board of “Standard Electronics”] |
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Location: |
Easy |
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Landmark (If Any): |
Swarna Palace |
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Total Floors of the building: |
2 Floor |
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Subject situated on: |
Ground Floor |
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Locality: |
Commercial |
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Area of premises : |
500 Sq. Ft. |
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Area : |
Upmarket |
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No. of employees seen at premises: |
2 |
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Visibility of
Items: |
·
Computers |
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Furniture Item
Sighted: |
Table and Chair |
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Sister concerns
(Other Name on Name Board): |
No |
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Neighbour’s
Interview: |
On enquiry with Security Guard (Name not Divulged) from “Swarna Palace” and one neighbour (Name not Divulged) from “Sri Parameshwara Traders” both the person from neighbouring companies confirmed the existence of the subject on the given address |
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Proof of visit: |
Photograph |
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OBSERVATION POINTS 2 |
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Name of Company : |
PRO AUDIO VISION |
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Address : |
40-5-18, Siddhartha College Road, Near P.D. Siddhartha Art College,
Siddhartha Nagar, Labbipet, Vijaywad – 520010, Andhra Pradesh, India |
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Contact No.: |
91-7207256914 |
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Person to whom we met: |
Mr. Basha |
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Name Board : |
Sighted |
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Location: |
Easy |
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Landmark (If Any): |
Near P.D. Siddhartha Art College |
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Total Floors of the building: |
1 Floor |
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Subject situated on: |
Ground Floor |
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Locality: |
Commercial |
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Area : |
Upmarket |
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No. of employees seen at premises: |
4 (Approximately) |
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Visibility of
Items: |
·
Computers |
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Furniture Item
Sighted: |
Table and Chair |
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Proof of visit: |
Photograph |
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
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INR |
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US Dollar |
1 |
INR 64.03 |
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|
1 |
INR 79.73 |
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Euro |
1 |
INR 90.40 |
INFORMATION DETAILS
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Information
Gathered by : |
SUP |
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Analysis Done by
: |
NSG |
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Report Prepared
by : |
GEET |
SCORE FACTORS
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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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.