MIRA
INFORM REPORT
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Report Date : |
14.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
ACUTE DIAMOND TOOLS AND MARBLE PRIVATE LIMITED |
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Registered Office : |
4 -11, Ambamata Scheme, Udaipur – 313 001, Rajasthan, India |
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Country : |
India |
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Financials (as on) : |
31.03.2001 |
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Date of Incorporation : |
11.02.2000 |
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Com. Reg. No.: |
016142 |
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CIN No.: [Company
Identification No.] |
U14102RJ2000PTC016142 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacture, Traders, Dealers and Distributors of Diamond Tools used in saw blades, etc also used for cutting and polishing of, slabs and mining purposes. Also traders in synthetic diamond powder, metal powder for cutting, polishing and carving of stones. Subject is engaged in trading of marbles and marble Tools and Segments. |
RATING &
COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Maximum Credit Limit : |
USD 72 |
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Status : |
Poor |
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Payment Behaviour : |
Unknown |
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Litigation : |
Unknown |
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Comments : |
Subject is a small company engaged in the business as manufacturers of diamond tools used in Gangsaw Blades, also used in cutting and polishing of marbles. The company does not have any track record of performance. Capital is a meagre Rs. 0.027 million. Payment habit is not experienced. It may be considered for small business dealings on safe and secured trade terms and conditions. Management remained non-cooperative during current investigation. No further details could be available from any sources. The company has not filed subsequent financials with Registry. The company is poor in Corporate Governance. Last filed financial is for 2001. Management declined business details. |
LOCATIONS
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Registered Office : |
411, Ambamata Scheme, Udaipur – 313 001, Rajasthan, India |
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Tel. No.: |
91-294-2418138 |
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Fax No.: |
91-294-2418138 |
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Factory : |
411, Ambamata Scheme, Udaipur – 313 001, Rajasthan, India |
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Tel. No.: |
91- 294- 2418138 |
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Fax No.: |
91- 294- 2418138 |
DIRECTORS
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Name : |
Mr. Rajendra Joshi |
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Designation : |
Chairman |
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Address : |
411, Amba Mata Scheme, Udaipur, Rajasthan |
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Name : |
Mr. Bhuvnesh Sharma |
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Designation : |
Director |
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Address : |
4, Sai Palace, Bedla Road, Udaipur, Rajasthan |
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Name : |
Mr. Mahendra Joshi |
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Designation : |
Director |
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Address : |
227, Adarsh Colony, Nimbaera |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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Mr. Rajendra Joshi |
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Mr. Bhuvnesh Sharma |
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Mr. Mahendra Joshi |
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BUSINESS DETAILS
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Line of Business : |
Manufacture, traders, dealers and distributors of Diamond Tools used in saw blades, etc also used for cutting and polishing of, slabs and mining purposes. Also traders in synthetic diamond powder, metal powder for cutting, polishing and carving of stones. |
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Products : |
> Diamonds Tools > Marbles Ř Marble Tools |
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GENERAL
INFORMATION
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No. of Employees : |
2 |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Alok Singhani and Company Chartered Accountants |
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Address : |
370, Master Colony, Ambe Mata Mandiar, Udaipur, Rajasthan |
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Tel. No.: |
91-294-2411582/(Res.) 2430806 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- Each |
Rs.0.100 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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300 |
Equity Shares |
Rs.10/- Each |
Rs.0.003 million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
No subsequent financials could be available.
Management remained non-cooperative during current investigation.
ABRIDGED BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2001 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.003 |
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2] Share Application Money |
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0.027 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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(0.012) |
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NETWORTH |
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0.018 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.130 |
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TOTAL BORROWING |
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0.130 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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0.148 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.003 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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0.000 |
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Other Current Assets |
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0.650 |
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Loans & Advances |
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0.000 |
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Total
Current Assets |
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0.653 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities & Provision |
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0.514 |
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Total
Current Liabilities |
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0.514 |
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Net Current Assets |
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0.139 |
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MISCELLANEOUS EXPENSES |
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0.009 |
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TOTAL |
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0.148 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
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31.03.2001 |
Sales Turnover [including other
income]
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0.725 |
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Profit/(Loss) Before Tax
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(0.007) |
Provision for Taxation
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-- |
Profit/(Loss) After Tax
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(0.007) |
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Total Expenditure
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0.732 |
KEY RATIOS
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PARTICULARS |
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31.03.2001 |
PAT / Total Income
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(%)
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(0.96) |
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Net Profit Margin
(PBT/Sales) |
(%) |
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(0.96) |
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Return on Total Assets
(PBT/Total
Assets} |
(%) |
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(1.07) |
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Return on Investment (ROI)
(PBT/Networth) |
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(0.39) |
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Debt Equity Ratio
(Total
Liability/Networth) |
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36.77 |
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Current Ratio
(Current
Asset/Current Liability) |
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1.27 |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.45 |
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UK Pound |
1 |
Rs.82.25 |
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Euro |
1 |
Rs.63.20 |
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. |
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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