MIRA INFORM REPORT

Report No. :	498082
Report Date :	20.03.2018

IDENTIFICATION DETAILS

Name :	INDYCA SOLUTIONS INC.
Registered Office :	3420 Parmacy Avenue Unit #01, Scarborough Ontario M1W 2P8
Country :	Canada
Date of Incorporation :	06.12.2004
Legal Form :	Corporation
Line of Business :	Subject provides Computer Systems Design Services.
No. of Employees :	1

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Small Company
Payment Behaviour :	No Complaints
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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
Canada	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

CANADA - ECONOMIC OVERVIEW

Canada resembles the US in its market-oriented economic system, pattern of production, and high living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. Canada has a large oil and natural gas sector with the majority of crude oil production derived from oil sands in the western provinces, especially Alberta. Canada now ranks third in the world in proved oil reserves behind Venezuela and Saudi Arabia and is the world’s sixth-largest oil producer.

The 1989 Canada-US Free Trade Agreement and the 1994 North American Free Trade Agreement (which includes Mexico) dramatically increased trade and economic integration between the US and Canada. Canada and the US enjoy the world’s most comprehensive and highly balanced bilateral trade and investment relationship, with merchandise trade of $544 billion in 2016, services trade of over $80 billion, and two-way investment stocks of nearly $700 billion. Over three-fourths of Canada’s exports are destined for the US each year. Canada is the largest foreign supplier of energy to the US, including oil, natural gas, and electric power, and a top source of US uranium imports.

Given its abundant natural resources, highly skilled labor force, and modern capital stock, Canada enjoyed solid economic growth from 1993 through 2007. The global economic crisis of 2007-08 moved the Canadian economy into sharp recession by late 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada's major banks emerged from the financial crisis of 2008-09 among the strongest in the world, owing to the financial sector's tradition of conservative lending practices and strong capitalization. Since the fall in world oil prices in 2014, Canada has achieved modest economic growth.

Source : CIA

STATUTORY INFORMATION

Legal Name:	INDYCA SOLUTIONS INC.
Trade Name:	INDYCA SOLUTIONS INC.
ID:	001641711
Date Created:	2004
Date Incorporated:	2004-12-06
Legal Address:	3420 Parmacy Avenue Unit #01, Scarborough Ontario M1W 2P8 Canada
Operative Address:	3420 Parmacy Avenue Unit #01, Scarborough Ontario M1W 2P8 Canada
Telephone:	647 477 6282
Fax:	-
Legal Form:	CORPORATION
Email:	info@indyca.com
Registered in:	CANADA
Website:	www.indyca.com
Contact:	JEYA PARAMALINGAM
Staff:	1
Activity:	NAICS 1: Computer Systems Design Services SIC 1: Computer Integrated Systems Design
Banks:	The company does not disclose its banking details.
History:	The company was founded in 2004.
PRINCIPAL ACTIVITY
Indyca Solutions Inc. provides Computer Systems Design Services.
Products/Services description:	The company provides Computer Systems Design Services, as well as Web Development Services and E-commerce Services.
Brands:	Indyca Solutions
Sales are:	Wholesale
Clients:	Private Companies
Suppliers:	NA
Operations area:	National
The company imports from	No import records found.
The company exports to	No export records found.
The subject employs	1 employee
Payments:	No Complaints
LOCATION
Headquarters :	3420 Parmacy Avenue Unit #01, Scarborough Ontario M1W 2P8 Canada
Branches:	No other branches were found.
Related Companies:	NSIC Software Technology Park, 3rd Floor, Module No. 408, Sector B24, Guindy Industrial Estate, Ekkaduthangal, Chennai - 600032, India.
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	The company does not disclose information on shareholders. We were not able to confirm major holders.
Management:	JEYA PARAMALINGAM
FINANCIAL INFORMATION
The company does not make its financial statements public. Despite our long search, we were not able to confirm financial figures for the subject.
LEGAL FILINGS
PATENTS	No records found.
GOVERNMENT CONTRACTS	No records found.
CASES	No records found.
TRADEMARKS	No records found.
RENEWAL HISTORY	No records found.
UCC	No records found.
OFAC Sanctions List Search	The company is not listed in the OFAC list.
SUMMARY
Founded in 2004, Indyca Solutions Inc. is an organization in the Computer Systems Design Services Industry headquartered in Ontario, Canada. The company has 1 regular employee. It operates nationally. It is ACTIVE in business with no negative records. The company shows low commercial profile, not being listed with yellow pages or major credit bureaus.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	No Complaints
CASH FLOW	Normal
STATUS	Active
INTERVIEW
NAME	-
POSITION	-
COMMENTS	We called number 647 477 6282 several times and received no answer.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.04
UK Pound	1	INR 90.56
Euro	1	INR 79.78
CAD	1	INR 49.87

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	PRI
Report Prepared by :	TRU

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
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)

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