MIRA
INFORM REPORT
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Report Date : |
01.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
LALBHAI KALIDAS AND COMPANY |
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Registered Office : |
3 – A, Jain Tower, 3rd Floor, 17 Mathew Road, Opera House,
Mumbai – 400004, Maharshtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1910 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM00034G |
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PAN No.: [Permanent
Account No.] |
AAAFL0582E |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufactuere, Exporter and Importer of Diamond Stones |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 20000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an old established concern having steady business. Trade
relations are fair. Payments are usually correct and as per commitments. The concern can be considered normal for business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
3 – A, Jain Tower, 3rd Floor, 17 Mathew Road, Opera House,
Mumbai – 400004, Maharshtra, India |
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Tel. No.: |
91-22-40369999/23610122 |
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Fax No.: |
91-22-23635363 |
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E-Mail : |
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Area : |
650 sq. ft. |
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Location : |
Rented |
PARTNERS
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Name : |
Mr. Samil Mehta |
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Designation : |
Partner |
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Date of Birth/Age : |
30 years |
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Qualification : |
Graduate |
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Experience : |
10 years |
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Name : |
Mrs. Bijal Mehta |
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Designation : |
Partner |
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Date of Birth/Age : |
29 years |
BUSINESS DETAILS
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Line of Business : |
Manufactuere, Exporter and Importer of Diamond Stones |
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Products : |
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Exports : |
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Products : |
Diamond Stones |
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Countries : |
US Hongkong |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Belgium |
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Terms : |
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Selling : |
Credit (90-120 days) |
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Purchasing : |
Credit (90-120 days) |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
10 |
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Bankers : |
Oriental Bank of Commerce, Opera House Branch |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.000 Millions |
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Borrowed : |
- |
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Total : |
Rs.5.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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50.000 |
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Expected Sales (2007-08) : Rs.100.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Website details:
Subject is committed
to provide the best value, quality, service and selection of certified diamonds
and jewelry in the world. They are manufacturer, exporter, importer and traders
of diamonds, solitaire, studs, jewelry,
etc. Their mission is to offer each customer a special shopping experience.
Their world class customer service team and jewelry experts have helped
numerous satisfied customers to select the perfect diamond - the perfect
treasure destined to be cherished forever.
Products
Subject is a unique blend of traditional values and
leading-edge innovation. Their product range and aesthetic designs have evolved
over nine decades of experience. They carry a vast variety of stock in Rounds and Princess: Round diamonds from
0.01- 2cts in various colors and clarity. Their specialty is the Prinsess cut
diamonds from 0.02- 2 cts. They carry these parcels as matched pairs
(loose, certified or mounted) and in sets for jewelry requirements. Their major
supplier is a DTC Sight holder regularly supplying in White, Top Silver and Top
Light Brown shades. Their wide product range includes:
- Diamonds
- Jewelry
- Solitaire
- Rings, Ear Studs, Pendants
- Journey Collection.
Collection
The aura and allure of a diamond is undeniable. And for
nearly a century, Subject has produced sparklers of rare beauty that have kept
this mystery intact. Every item in their fabulous collection is designed and
made with quality and style in mind. Their jewelers are dedicated to bringing
you the finest jewelry available using only top-quality select stones. You can
trust us for that special gift, perfect engagement ring or wedding band....they
aspire to make each occasion a memorable one. Since inception, they have
endeavored to make diamonds more accessible, transactions more convenient and
the experience, as fulfilling as possible.
Assurance
Established in 1910, they have earned their stripes by
supplying high-grade, brown diamonds to clients across the globe. As their
reputation for consistent quality grew, so did their clientele and areas of
business. The strong foundations laid down by the ancestors have assisted
Lalbhai Kalidas to gain this position in the industry. Their mission is to
enable their customers and their co-partners to be successful which has been their
driving force since initiation. They believe in consistency and delivering
results which are anything but ordinary.
Team
For over 9 decades, skill and knowledge have been passed on
from one generation to the next. At subject employment is provided to those who
share the company's high ideals of professionalism and integrity, blessed with
excellent craftsmanship and a passion of excellence. The environment is geared
to encourage innovation and constant upgrading of skills; individuals are given
ample opportunities to exploit their potential within the framework of cutting
edge manufacturing processes.
Subject enjoys the leadership in the Princess Cut Diamonds supplying to
customers across the globe following the footsteps of its rich heritage.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.67 |
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UK Pound |
1 |
Rs.81.78 |
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Euro |
1 |
Rs.58.46 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
NO |
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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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TOTAL |
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46 |
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
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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