MIRA INFORM REPORT
|
Report
Date : |
22.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
VIMAL
DIAMOND IMPEX |
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Registered
Office : |
Plot No. 244/, Harmara Road, Near Mahindra Marbles,
Kishangarh, Near Ajmer, Rajasthan |
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Country
: |
India |
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Financials
(as on) : |
31.03.2006 |
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Date
of Incorporation : |
May, 2004 |
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Legal
Form : |
Sole Proprietory Concern |
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Line
of Business : |
The
subject is engaged in Trading of Diamonds and Gems Cutting Tools. |
RATING & COMMENTS
|
MIRA’s
Rating : |
C |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists.
Caution needed to be exercised |
Credit not recommended |
|
Maximum
Credit Limit : |
-- |
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Status
: |
Small /
Unknown Concern |
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Payment
Behaviour : |
Unknown |
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Litigation
: |
Clear |
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Comments
: |
Subject
is a small and unknown concern. Business is limited. Payments are reported as
slow and delayed. The
concern can be considered for small to mediocre business dealings on safe and
secured trade terms and conditions. |
LOCATIONS
|
Registered
Office : |
Plot No.
244/, Harmara Road, Near Mahindra Marbles, Kishangarh, Near Ajmer, Rajasthan,
India |
|
Tel.
No.: |
91-1463-251610 |
|
Mobile
No.: |
91-9829071868/
9352088222 |
|
Area : |
2000 sq. ft. |
|
Location : |
Rented |
SOLE PROPRIETOR
|
Name : |
Mr. Abhishek Jain |
|
Designation
: |
Sole Proprietor |
|
Date
of Birth/Age : |
29 years |
|
Qualification
: |
Graduate |
BUSINESS DETAILS
|
Line
of Business : |
The
subject is engaged in Trading of Diamonds and Gems Cutting Tools. |
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Product
: |
Diamonds and Gems Cutting Tools |
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Terms
: |
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Selling : |
L/C and Cash basis |
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|
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Purchasing : |
L/C basis |
GENERAL INFORMATION
|
Customers
: |
Wholesalers |
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|
|
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No. of
Employees : |
2 |
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|
|
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Bankers
: |
Bank of Rajasthan New Delhi |
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Banking Relations : |
Unknown |
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Auditors
: |
Not Available |
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Sister
Concerns : |
Ø
Sunshine
Marble Khanpur
Mehrauli Road, New Delhi, India |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs. 0.300 Millions |
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Borrowed : |
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|
Total : |
Rs. 0.300 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales
Turnover |
1.000 |
1.500 |
2.000 |
LOCAL AGENCY
FURTHER INFORMATION
Nil
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.25 |
|
UK Pound |
1 |
Rs.86.41 |
|
Euro |
1 |
Rs.58.10 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
10 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base
with the strongest capability for timely payment of interest and principal
sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry
similar weight in credit consideration. Capability to overcome financial
difficulties seems comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to
be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we have no
basis upon which to recommend credit dealings |
No Rating |
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