MIRA
INFORM REPORT
|
Report Date : |
22.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
INDIAN CRAFTS BAZAAR |
|
|
|
|
Registered Office : |
8, Parsuram Dwara, Opp. Jal Mahal, Amer Road, Jaipur – 302 001,
Rajasthan |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Year of Establishment : |
2002 |
|
|
|
|
IEC No.: |
1304003361 |
|
|
|
|
TIN No. : |
08312206938 |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AEEPJ7917F |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Home Furnishing and Handicrafts. |
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 7500 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed concern meeting its normal
commitments timeously. Trade relations are fair. Business is active. The concern can be considered good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mrs. Noor Jahan |
|
Designation : |
Proprietor |
|
Date : |
18.08.2008 |
LOCATIONS
|
Registered Office / Factory : |
8, Parsuram Dwara, Opp. Jal Mahal, Amer Road, Jaipur – 302 001,
Rajasthan, India |
|
Tel. No.: |
91-141-2674038 |
|
Mobile No.: |
91-9414055735/ 9829014186 |
|
Fax No.: |
91-141-2674038 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
200 Sq. Yards |
|
Location : |
Owned |
PROPRIETOR
|
Name : |
Mrs. Noor Jahan |
|
Designation : |
Proprietor |
|
Address : |
8, Parsuram Dwara, Opp. Jal Mahal, Amer Road, Jaipur – 302 001,
Rajasthan, India |
|
Date of Birth/Age : |
35 Years |
|
Qualification : |
Graduate |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Home Furnishing and Handicrafts. |
|
|
|
|
Exports : |
|
|
Products : |
v Handicrafts and
Textile (Home Furnishing) |
|
Countries : |
v USA v Germany v UK |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit ( 30 days) |
|
|
|
|
Purchasing : |
Cash and Credit ( 30 days) |
GENERAL
INFORMATION
|
Customers : |
v End Users |
|
|
|
|
No. of Employees : |
Total : 16 (Office : 5, Factory : 11) |
|
|
|
|
Bankers : |
v ICICI Bank Jaipur – 302 001, Rajasthan, India v Bank of Baroda Jaipur – 302 001, Rajasthan, India |
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
R. Ratan Garg and Company Chartered Accountants |
|
Address : |
Ludhiana, Punjab, India |
|
|
|
|
Sister Concerns : |
v Indian Hart
Bazar Jaipur – 302 001, Rajasthan, India |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 1.500 millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 1.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
31.03.2007 |
31.03.2006 |
|
Proprietor’s Share Capital |
|
1.500 |
1.350 |
|
|
|
|
|
|
Unsecured Loans |
|
1.500 |
1.200 |
|
|
|
|
|
|
Fixed Assets |
|
4.100 |
4.000 |
|
|
|
|
|
|
Inventories |
|
2.600 |
3.200 |
|
|
|
|
|
|
Cash and Bank |
|
0.234 |
0.210 |
|
|
|
|
|
|
Current Liabilities |
|
14.800 |
13.200 |
|
|
|
|
|
|
Sales Turnover |
|
6.000 |
5.500 |
|
|
|
|
|
|
Profit/Loss for the year |
|
0.286 |
0.250 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v A One Handicrafts, jaipur
v Shev Exports, Jaipur
Trust Seal Acceptance Chart
|
Parameters |
Details |
|
Existence Verification |
|
|
Name |
Indian Crafts Bazaar |
|
Address |
8, Parsuram Dwara, Opp. Jal Mahal, Amer Road, Jaipur – 302 001,
Rajasthan, India |
|
Tel. No. |
91-141-2674038 |
|
Mobile No |
91-9414055735 |
|
Nature of Business |
Manufacturer and Exporter of Home Furnishing and Handicrafts. |
|
|
|
|
Statutory Approvals |
|
|
Legal Status of Firm |
Proprietorship |
|
Income Tax Registration |
AEEPJ7919F |
|
VAT / TIN Registration |
8312206938 |
|
Import Export Code |
1304003361 |
|
Name of Bank |
ICICI Bank, Jaipur Bank of Baroda, Jaipur |
|
Emp PF Reg Number |
ND |
|
Company ESI Reg. Number |
ND |
|
RBI Code Number |
AEEPJ7919F |
|
|
|
|
Credibility Factors |
|
|
India Mart Client Since |
New Member |
|
Year of Establishment |
2002 |
|
|
|
|
Trade Affiliations |
|
|
Export Promotion Council |
Export Promotion Council Handicrafts |
|
|
|
|
Standards and Certifications |
|
|
Quality Management Systems |
YES Maintaining Full Quality Control |
|
Safety Certificates |
YES Maintaining Full Quality Control |
As Per Website Details
Subject was established with a mission to promote the Indian art and craft in
the world market. In this mission
they are getting huge success day by day and hope for the same in future.
The concern has an impressive record and rich experience in the field for
maintaining the quality of the product. They have highly skilled and
experienced Team whose devotion to its work creates quality and beauty in the products. The team
always looks for new challenges. They are eager and feel happiness contributing
the efforts for any new production. They are one of the leading suppliers of
art and Handicraft
items.
India has Treasure of arts and crafts which is evident in the products. The
creation of the products presents a lucrative source of information about the
various arts of India. Traditional wooden furniture and paintings on canvas
have always been passion with international market. These arts and crafts have
been preserved by the
skilled artisens of India. Being
an oldest heritage of the world Indian art and craft have been a subject of study for the entire
world.
They believe in long term business relationship with the clients. Earning money
is not the object but to promote the India's art and craft
in the whole world. Quality is the USP because they know what the quality is
and the value it has. It is the most important link between a client and us and
this is the only thing which keeps the client in touch with us with the
increase of the new clients. They also believe that it costs nothing extra to
maintain quality.
Products
They manufacture complete range of wooden, iron and stone items as well as handicraft items made of wood, stone. They also create all kind of paintings and the paintings inspired by the Indian tradition and culture. They attempt is highlight all kind of arts and crafts both traditional and modern through the products. Especially they offer reproduction furniture in a variety of media with regal designs from historic forts, palaces and havelis so intrinsic to the states of India.
They try to keep the design of the products simple and
attractive. The huge range
of products is specially made
for those who know the value
of art and handicraft. They
are able enough to give shape to the beautiful ideas.
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 :
The 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.
The 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. 43.58 |
|
UK Pound |
1 |
Rs. 81.43 |
|
Euro |
1 |
Rs. 64.52 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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. |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|