MIRA
INFORM REPORT
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Report Date : |
05.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHREE
PARSHAVNATH CREATIONS |
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Registered Office : |
99,
Swadeshi Market, Sadar Bazar, Delhi – 110006 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
2005 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Manufacturers,
Exporters and Wholesalers of costume jewellery, fashion jewellery, imitation
jewellery and Indian bangles. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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/normal. |
Small |
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Maximum Credit Limit : |
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Status : |
Small
Concern |
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a relatively small concern having satisfactory track. Proprietor is
reported as experienced and respectable businessman. Trade relations are reported as fair. Business is active, payments are however
reported as usually correct and as per commitments. The
concern can be considered for small business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office/Factory : |
99,
Swadeshi Market, Sadar Bazar, Delhi – 110006, India |
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Tel. No.: |
91-11-23618016/23618016/23617808 |
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Mobile No.: |
91-9811624868/9811531788 |
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Fax No.: |
91-11-25221485 |
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E-Mail : |
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Website : |
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Area : |
1000
sq. ft. [Ground Floor] |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr.
Ankit Jain |
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Designation : |
Sole
Proprietor |
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Date of Birth/Age : |
23
Years |
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Qualification : |
Under
Graduate |
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Experience : |
5
Years |
KEY EXECUTIVES
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Name
: |
Ms.
Neelam Kumar Jain |
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Designation
: |
Chief
Executive Officer |
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Date
of Birth/Age : |
52
Years |
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Qualification
: |
Graduate |
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Experience
: |
30
Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers,
Exporters and Wholesalers of costume jewellery, fashion jewellery, imitation
jewellery and Indian bangles. |
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Exports to : |
U.S.A.,
U.K., Europe, Gulf and Middle East [Fashion Jewellery, Artificial Jewellery
and Imitation Jewellery] |
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Terms : |
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Selling : |
Cash
and Credit [60 days] |
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Purchasing : |
L/C,
Cash and Credit [60 / 90 days] |
GENERAL
INFORMATION
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Customers : |
Wholesalers
and Distributors |
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No. of Employees : |
8 |
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Bankers : |
ICICI
Bank Sadar
Bazar, Delhi – 110006 Bank
of Baroda Sadar
Bazar, Delhi – 110006 |
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Banking Relations : |
Satisfactory
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Auditors : |
Pawan
Gupta Chartered
Accountant, Delhi |
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Associates : |
Swaran
Creations, Delhi Line
of Business : Manufacturers and Exporters of Costume Jewellery |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
1.000 million |
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Borrowed : |
-- |
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Total : |
Rs.
1.000 million |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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5.000 |
3.000 |
Expected Sales for March, 2007 is Rs. 5.500 millions
LOCAL AGENCY
FURTHER INFORMATION
It is in
trade terms with :
Ř
Jawahar
Shah Kundalal, Delhi
Ř
Jain
Art Gallery, Delhi
Ř
Harshad
Trading Company, Ground Floor, Swami Narayan Building, 3rd Bhoiwada,
Bhuleshwar, Mumbai – 400005
Ř
Ambalal
Bhyrmal, 47-A, Perumal Mudali Street, Chennai
WEBSITE
DETAILS
They are into the manufacturing and exports of
splendid costume jewellery, fashion jewellery, imitation jewellery, Indian
Bangles, all kind of fashion accessories and handicraft items, they provide
most aesthetically designed which depicts an exotic blend of extra ordinary
quality values and perfection in creation
Profile
India is a land of diverse
culture, lifestyle and tradition. All combine to present a
spellbinding variety of vibrant motifs and designs. The techniques
and crafts perfected over centuries
continue to captivate the generation of
today.
At Shree Parshavnath Creation's Fashion
Art, it is their endeavor to preserve and make known this rich
heritage of India so they provide to the world
the most opulent, intense and richest of
treasure in various forms of Hand made Crafts and Arts.
Shree Parshavnath Creations is a name known for all kinds
of fashion art products as costume jewellery,
imitation jewellery, bangles, handicrafts, etc.
Managed by professionals, they provide most aesthetically designed
products, which depicts an exotic blend of extra ordinary quality
values and perfection in creation. Their designers regularly create new &
aspiring designs. They can always provide their valuable clients
with products to suit their requirements and as per their specifications
and innovations.
Their hallmark has been timely delivery of
orders with due emphasis on quality.
They strive to play a part in placing Indian
craftsmanship on the pedestal of admirable
achievement and bring the world at India's
doorsteps.
Manufacturing and exports of splendid costume jewellery, fashion
jewellery, imitation jewellery, Indian Bangles, all kind of fashion accessories
and handicraft items, they provide most aesthetically designed which depicts an
exotic blend of extra ordinary quality values and perfection in creation.
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
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.11 |
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UK
Pound |
1 |
Rs.86.79 |
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Euro |
1 |
Rs.57.44 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
YES |
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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 |
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TOTAL |
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29 |
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/normal. |
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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