MIRA
INFORM REPORT
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Report Date : |
26.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
YASH JEWELLERY PRIVATE LIMITED |
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Registered Office : |
Unit No. 603/604, Block No. 1, Seepz++, Sez MIDC, Andheri (East),
Mumbai, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
13.11.2006 |
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Com. Reg. No.: |
165520 |
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CIN No.: [Company
Identification No.] |
U27205MH2006PTC165520 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMY01855A |
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PAN No.: [Permanent
Account No.] |
AAACY2834R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in goldsmith, silversmith, jewelers, gem merchants,
watch and clock makers, electroplaters, importers and deal in diamonds,
rubies, precious or semi precious stones, metals and alloys, jewellery gold
or silver plates, cups, shields, electroplates cutlery, bronze, antiques and
other articles made of gold, silver, diamond, rubies and other precious
metals and stones and to deal and undertake cutting, polishing and process in
diamond, precious and semi precious stones gold and silver |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Yet to start business |
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Payment Behaviour : |
Unknown |
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Comments : |
Subject is a relatively new company and yet to commence business (as
per 31.03.2007 financials). Directors are reported as experienced, respectable and resourceful businessmen.
Nothing adverse reported for them. No payment are available. The company is expected to start business in 2007-08. However,
initially, it should be considered for any business dealings on safe and
secured trade terms and terms and conditions. |
LOCATIONS
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Registered Office : |
Unit No. 603/604, Block No. 1, Seepz++, Sez MIDC, Andheri (East),
Mumbai, Maharashtra, India |
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Tel. No.: |
91-22-28294201 / 28294202 |
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Mobile No.: |
91-9324673582 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Nayan Pansare |
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Designation : |
Director |
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Address : |
602, Rajigandha, Gokuldham, Gen A.K. Vaidya Marg, Goregaon (East),
Mumbai – 400063, Maharashtra |
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Date of Birth/Age : |
17.03.1952 |
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Date of Appointment : |
13.11.2006 |
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Other Directorship : |
Name of the company: Say India Jewellers Private Limited CIN: U36910MH1995PTC088038 Name of the company: Lily Jewellery Private Limited CIN: U36911MH200PTC144344 Name of the Company: Rolly Jewellery Private Limited CIN; U36910MH2005PTC150740 |
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Name : |
Mr. Pramod Goenka |
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Designation : |
Director |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Pramod Goenka |
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500 |
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Mr. Nayan Pansare |
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500 |
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Category |
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Percentage of
Holding |
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Directors or relatives of directors |
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60.00 |
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Foreign holdings (FIIs, FCs, FFIs, NRIs or overseas corporate bodies
or other) |
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40.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in goldsmith, silversmith, jewelers, gem merchants,
watch and clock makers, electroplaters, importers and deal in diamonds, rubies,
precious or semi precious stones, metals and alloys, jewellery gold or silver
plates, cups, shields, electroplates cutlery, bronze, antiques and other
articles made of gold, silver, diamond, rubies and other precious metals and
stones and to deal and undertake cutting, polishing and process in diamond,
precious and semi precious stones gold and silver |
GENERAL
INFORMATION
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Bankers : |
State Bank of
Patiala Seepz++, Andheri
(East), Mumbai – 400096, Maharashtra E-Mail: sbpseepz@rediffmail.com |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
M.A. Parikh Chartered Accountants |
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Address : |
Yusuf Building, 2nd Floor, 43, Mahatma Gandhi Road Fort,
Mumbai – 400023, Maharashtra |
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Group of
Companies : |
© Say India Jewellers Private Limited © Lily Jewellery Private Limited © Rolly Jewellery Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.1000/- each |
Rs.10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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912380 |
Equity Shares |
Rs.100/-
each |
Rs.9.123millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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9.123 |
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2] Share Application Money |
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0.238 |
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3] Reserves & Surplus |
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52.428 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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61.789 |
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LOAN FUNDS |
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1] Secured Loans |
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107.647 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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107.647 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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169.436 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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157.049 |
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INVESTMENT |
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1.247 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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1.078 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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21.811 |
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Total
Current Assets |
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22.889 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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12.074 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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12.074 |
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Net Current Assets |
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10.815 |
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MISCELLANEOUS EXPENSES |
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0.325 |
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TOTAL |
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169.436 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.19 |
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Current Ratio (Current Asset/Current Liability) |
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1.89 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
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Corporate identity
number (CIN) Foreign company registration number |
U27205MH2006PTC165520 |
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Name of the
Company |
YASH JEWELLERY PRIVATE LIMITED |
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Address |
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This form is for |
Creation of
charge |
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Type of Charge |
Book Debts and Movable
property (not being pledge) |
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Particulars of
the charge holder |
State Bank of
Patiala Seepz++, Andheri
(East), Mumbai – 400096, Maharashtra E-Mail: sbpseepz@rediffmail.com |
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Amount secured by
the charge |
Rs.120.000
millions |
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Brief of the
principal terms and conditions |
Rate of interest: as per extent of
bank instructions, applicable to export finance, subject to change from time
to time |
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Description of
the property charged indicating |
Agreement of
hypothecation of goods and assets, agreement of pledge of goods and assets |
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Brif description
of the instrument Creating the charge under section |
1st
charge on fixed assets worth 158.700 millions personal guarantee of director.
Lien on fdr of Rs.2.000 millions and hypothecation and pledge on goods and
book debts. |
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Date of
Instrument creating charge |
10.08.2007 |
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 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.49 |
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UK Pound |
1 |
Rs.78.33 |
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Euro |
1 |
Rs.56.78 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
-- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
- |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
4 |
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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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23 |
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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