MIRA
INFORM REPORT
|
Report Date : |
24.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
NATVARLAL MORARJI JARIWALA |
|
|
|
|
Registered Office : |
191, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
1942 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMN10671D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAAFN4603Q |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer and exporter of Metallic
Yarn and Zari Threads, Cords and Braidings and Zardosi
Products like Dabka, Kora, Gijai and Bullion. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed concern having satisfactory
track. Proprietor is reported as
experienced and respectable businessman.
Trade relations are reported as fair.
Business is active. Payments
are usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
191, |
|
Tel. No.: |
91 – 22 – 2346 2516 |
|
Mobile No.: |
91 - 9322426917 |
|
Fax No.: |
91 – 22 – 2346 2516 |
|
E-Mail : |
|
|
Area : |
2000 Sq. fts. |
|
Location : |
Rented |
SOLE PROPRIETOR
|
Name : |
Mr. Ranjit Jariwala |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
54 years |
|
Qualification : |
Graduate |
|
Experience : |
30 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and exporter of Metallic
Yarn and Zari Threads, Cords and Braidings and Zardosi
Products like Dabka, Kora, Gijai and Bullion. |
|
|
|
|
Products : |
v
Metallic Yarn and Zari {Glitter Thread} are exclusively used in Hand and Machine Embroidery, Knitting,
Weaving & Hosiery, Tassels and Trimmings. v Zardosi Products like Dabka, Kora, Gijai
& Bullion are used in Zardosi work, Bridal Wears, Sarees, Dress
Materials, Pardaa Work, Badges-Emblems, Hand Embroidery, v Christmas Decorations and many other things. |
|
|
|
|
Exports : |
|
|
Countries : |
Gulf Countries, |
|
|
|
|
Terms : |
|
|
Selling : |
Cash or Credit (2 Weeks) |
|
|
|
|
Purchasing : |
Cash or Credit (2 Weeks) |
GENERAL INFORMATION
|
Customers : |
v
Wholesalers v
Retailers |
|
|
|
|
No. of Employees : |
3 |
|
|
|
|
Bankers : |
v
Dena Bank, Gulalwadi Branch, Mumbai – 400 002, v
IDBI Bank,
Gulalwadi Branch, Mumbai – 400 002, |
|
|
|
|
Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 0.500 million |
|
Borrowed : |
- |
|
Total : |
Rs. 0.500 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2007 |
|
Sales Turnover |
|
|
3.400 – 3.500 |
LOCAL AGENCY FURTHER INFORMATION
Note: Partnership
Firm since 1942, now turned in Proprietorship Since 2007
Trade References
v Shakti Trading, Mumbai,
v
v Pravin International, Kolkata, West
Website details attached:
Established
in the year 1942, Subject is a preeminent manufacturer and exporter of Metallic
Yarn and Zari Threads, Cords and Braidings and Zardosi Products
like Dabka, Kora, Gijai and Bullion. Their Products are
the best available in the market in terms of quality, trend and fashion. They
do not believe in aping others in the industry, so they focus on creating
products that are unique, innovative and original. And this is the reason why
their customers are satisfied with their work and come to us to give repeated
orders. They are backed by a dedicated and talented team of proficient workers
with valuable industrial experience. They work in close coordination with their
clients to correctly assess their specific requirements.
Products
Their products are attractive and come in a wide and comprehensive range. Their Products like Metallic Yarn and Zari{Glitter Thread} are exclusively used in Hand and Machine Embroidery, Knitting, Weaving and Hosiery, Tassels and Trimmings. Zardosi Products like Dabka, Kora, Gijai and Bullion are used in Zardosi work, Bridal Wears, Sarees, Dress Materials, Pardaa Work, Badges-Emblems, Hand Embroidery, Christmas Decorations and many other things.
All their products are available in
gold, silver, various colors and antique shades
Quality is their forte and they strive to obtain the highest
quality in their products. They manufacture their products in accordance with
international quality standards. Their team of quality control experts maintains
a strict vigil at each and every stage thus ensuring the customers of reliable
products. They boast of an efficient workforce, professionally qualified
personnel and sound infrastructure appropriate for the production of superior
quality products. Infrastructure is the backbone of their company. Their modern
and spacious warehouse has a capacity to store bulk orders to meet the
requirement of the customers.
They owe
their success to the support and loyalty of their clients. They have a
trustworthy and satisfying client base spread all over the world. They believe
in total customer satisfaction and strive to fulfill all the requirements and
needs of the customers. They endeavor to reach the pinnacle of excellence by
offering customized products to their clients.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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. 40.34 |
|
|
1 |
Rs. 83.08 |
|
Euro |
1 |
Rs. 55.80 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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 |
|