MIRA
INFORM REPORT
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Report Date : |
27.04.2007 |
IDENTIFICATION DETAILS
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Name : |
A. K. MOTIWALA |
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Registered Office : |
“Mangal Darshan” 14-A and 14-B, Junction of Turner Road and water field
Road, Bandra, Mumbai – 400 050 |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Year of Incorporation : |
1950 |
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Legal Form : |
Partnership concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturer, Exporter and Importer of quality jewellery |
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 40000 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an old established jeweller of reputed in Bandra,
Mumbai. It has well furnished showroom
in leased premises. Trade relations
are reported as fair. Nothing adverse reported. 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 : |
“Mangal Darshan” 14-A and 14-B, Junction of Turner Road and water
field Road, Bandra, Mumbai – 400 050 |
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Tel. No.: |
91-22-2642 8081 / 2642 7026 / 2643 5204 / 2643 2267 |
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Fax No.: |
91-22-2644 2827 |
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E-Mail : |
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Area : |
2000 Sq. fts. |
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Location : |
Leased |
PARTNERS
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Name : |
Mr. S. Motiwala |
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Designation : |
Partner |
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Date of Birth/Age : |
56 years |
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Qualification : |
Post Graduate |
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Experience : |
30 years |
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Name : |
Mr. E. Motiwala |
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Designation : |
Partner |
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Name : |
Mr. A. A. Motiwala |
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Designation : |
Partner |
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Name : |
Mr. N. S. Motiwala |
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Designation : |
Partner |
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Name : |
Mrs. R. A. K. Motiwala |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of quality Jewellery |
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Products : |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash or Credit |
GENERAL INFORMATION
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Customers : |
Individuals |
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No. of Employees : |
15 |
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Bankers : |
Standard Chartered Bank, Mumbai |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 10.000 millions |
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Borrowed : |
- |
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Total : |
Rs. 10.000 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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40.000 – 50.000
millions |
LOCAL AGENCY FURTHER INFORMATION
- Subject
manufactures and supplies quality Jewellery since 1950. Its jewellery store in Bandra, Mumbai
offers a wide variety of jewellery, which is widely not only visited by
residents of Mumbai and
- Products
include:
- Gold
Jewellery
2. Diamond
Jewellery
3. Kundan
Jewellery
4. Meenakeri
gold Jewellery
·
Subject has some of the best inhouse designers
giving rich taste of modern as well as ethnic designs that meet the customer’s
expectations of Quality, Styling and Pricing.
·
Every piece of its jewellery goes through the
strictest quality of control to ensure that you get only the finest in
jewellery.
·
Subject creations can be found in some of the best
stores in the
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Concern is one of the largest manufacturers and
exporters of Gold and Diamond jewellery in
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The company attributes its success to its golden
rule of being “obsessed with Quality” and sources only the best in diamonds,
Pearls, precious and Semi-Precious stones.
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Concern participates in all leading International
Jewellery Exhibitions and Fairs so as to keep up with the latest trend in
Jewellery design.
·
Subject has won outstanding Exports Performance
awards for 5 years consecutively which are as follows:
v
Indira Gandhi Excellence Award – For Excellence in
its field of Business and for promoting national Integration
v
Vijay Ratna Award – Presented for Excellence in
Business
v
Odyog Excellence Award – Presented for outstanding
excellence in the field of Jewellery Exports
v
Citizen of
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 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. 40.90 |
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1 |
Rs. 81.29 |
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Euro |
1 |
Rs. 55.47 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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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54 |
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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