MIRA
INFORM REPORT
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Report Date : |
06.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
S. ZAVERI AND SONS |
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Registered Office : |
11, Amore, 2nd Road, Khar (West), Mumbai-400052,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1947 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MIMS33595C |
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PAN No.: [Permanent
Account No.] |
AAPFS1922A |
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Legal Form : |
Partnership Concern with an unlimited liabilities of the parntner |
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Line of Business : |
Manufacturer,
Exporter and Retailer of Finest Hand-Made Jewellery |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 50000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Unknown |
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Comments : |
Subject is in the business of jewellery where of the transactions are
in cash and hence owner are afraid of tax authority. Thus it is almost impossible
access vital details for credit information. Subject is an old concern in its field. Concern remained non
cooperative due to fear of information going to their disadvantage with
various tax authorities. Trade relations are fair. Payments are reported as slow. The concern can be considered for small business dealings on safe and
secured trade terms and conditions, initially. |
LOCATIONS
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Registered Office : |
11, Amore, 2nd Road, Khar (West), Mumbai-400052,
Maharashtra, India |
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Tel. No.: |
91-22-26482382 |
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Fax No.: |
91-22- 26045914 |
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E-Mail : |
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Website : |
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Area : |
Medium (Owned) |
PARTNERS
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Name : |
Mr. Sagarmall Zaveri and Family members |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer,
Exporter and Retailer of Finest Hand-Made Jewellery |
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Products : |
·
Rings ·
Earings ·
Pendants ·
Bangles ·
Bracelets ·
Pendant Sets ·
Necklace Sets ·
Mangal Sutras ·
Chains ·
Diamond solitaires |
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Exports : |
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Countries : |
·
Asia ·
Europe ·
Canada ·
Belgium |
GENERAL
INFORMATION
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No. of Employees : |
10 |
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Bankers : |
Not Divulged |
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Banking Relations
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-- |
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Auditors : |
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Name : |
Not Available |
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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31.03.2008 |
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Sales Turnover (Estimated) |
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50.000 |
LOCAL AGENCY
FURTHER INFORMATION
Shop by Category:
·
Bridal Jewellery
·
Diamond Jewellery
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Gold Jewellery
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Gemstone Jewellery
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Mens Jewellery
·
Religious Jewellery
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Kids Jewellery
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Setting Frames
·
Loose Diamonds
·
Prevcious Gemstones
AS PER WEBSITE:
Profile:
Our Heritage :
S. Zaveri and Sons has been one of the most trusted names for jewellery in
India. Since the inception in 1947, the have been in the forefront in
ornamenting every wonderful occasion with the unique jewellery. It was the
vision and foresight of Shri Sagarmalji Zaveri that has brought them to this
successful platform, with strong roots that are a blend of a powerful foundation
of the manufacturing and retail business and infinite artistic creativity. It
was this motivating legacy that was then passed onto the descendants who
carried on the torch of S. Zaveri to new heigh
Trusted Name :
Subject is highly recognized with renowned jewellery experts
in the country. The esteemed clientele includes the most celebrated names in
the field of glamour and entertainment and highly qualified professionals. They
present the clients only with the very best… May it be artistic jewellery or a
just precious stone… every product is studded with a selection of the superior
grade diamonds, selected for quality and brilliance. This dedication to the aim
thus allows them to implement a continuous work flow system of manufacturing
jewellery with strict quality control and design
management.
Moreover, they have a treasure trove of expert in house designers who create
stylish designs, in white and yellow gold. Whether you have a taste for
traditional, ethnic pieces or modern vogue… rest assured to find a tempting
selection of jewellery to suit all occasions.
Shipping Policy
Concern is proud to be associated
with FedEx® for shipping all international orders. All orders will be shipped
up till the doorstep, fully insured and within 48 hrs after dispatch. They
request all customers to inspect the package for damage or tampering before
receiving or signing for receipt.
Following is
the list of countries that the currently ship through FedEx:
United States
of America, United Kingdom, Singapore, Thailand, United Arab Emirates, Bahrain,
Hong Kong, Kuwait, Malaysia, Japan, Korea South, Macau, Taiwan, China, Canada,
Belgium, Denmark, France, Germany, Italy, Liechtenstein, Luxemburg,
Netherlands, and Switzerland.
Please note
that the following countries have a shipment value limit of $1000.00, if the
delivery is by FedEx:
United Arab Emirates, Bahrain and
Kuwait. However, for higher value orders and countries not listed above, the
can always arrange for other reliable carriers.
Customs and Duty
Subject is a
proud member of The Gem and Jewellery Export Promotion Council of India. Every
piece of jewellery that is exported is strictly verified by the Indian custom
authorities for quality check and price authenticity. Therefore, you can be 100
percent sure of the purchase and simply enjoy the use of the products and
services.
They understand
that every country is governed by its laws for import of gold and gemstones in
any form. Some countries may levy custom duties and taxes on such imports
depending upon its value. Therefore,
They would like
to clearly state that S. Zaveri and Sons is not responsible for any kind of
customs and duties charged by the government of the destination country. They
advise all of the customers to please verify the import laws of their
respective countries before purchasing gold and gem-studded jewellery from a
foreign country.
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 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] 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
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Indian Rupees |
|
US Dollar |
1 |
Rs.47.18 |
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UK Pound |
1 |
Rs.75.05 |
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Euro |
1 |
Rs.60.89 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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32 |
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. |
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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