%20%20LTD%20%2019-Nov-2008_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
19.11.2008 |
IDENTIFICATION DETAILS
|
Name : |
DHARAM CREATIONS (HK)
LTD. |
|
|
|
|
Registered Office : |
Unit 7, 1/F., Chevalier House, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
07.07.2004. |
|
|
|
|
Com. Reg. No.: |
34748434 |
|
|
|
|
Legal Form : |
Private Limited Company. |
|
|
|
|
Line of Business : |
Importer and Exporter of All kinds of diamonds and jewellery. |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Name
DHARAM
CREATIONS (HK) LTD.
ADDRESS
Unit 7,
1/F., Chevalier House,
PHONE: 2723 1466
FAX: 2722 6214
E-MAIL: info@dharamhk.com
manish@dharamhk.com
MANAGEMENT
Managing Director: Mr. Manishkumar Vallabhbhai Mangukia
SUMMARY
Incorporated on: 7th July, 2004.
Organization: Private Limited Company.
Capital: Nominal: HK$5,000,000.00
Issued: HK$3,570,000.00
Business Category: Diamond Trader.
Employees: 8.
Main
Dealing Banker: Wing Lung Bank
Ltd.,
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Unit
7, 1/F., Chevalier House,
Affiliated Offices:-
Mumbai
Office
Dharmanandan Diamonds Pvt. Ltd.
1014-16, Prasad Chambers,
Opera House, Mumbai 400004,
Tel: 91 22 4004
1111 / 2 /3 / 4 / 5
Fax : 91 22 6635
5533
E-mail: info@dharmanandan.com
Surat
Factory
Dharmanandan Diamonds Pvt. Ltd.
Behind Patel Faliya,
Gotalawadi, Katargam Road, Surat 395004, Gujarat, India.
Tel: 91 261 253
3777
Fax: 91 261 253
3775
Dharm Exim (Exporters of Diamonds & Diamond Jewellery)
Plot no -152,
Tel: 91 261 239
8511 / 8233
Fax: 91 261 239
8088
E-mail: p@dharmexim.com
Dharm Diam B.V.B.A.
30, Hoveniersstraat, Suite No.428, Box No.133, 2018,
Tel: 323 234 1444
Fax: 323 234 1445
E-mail: sandip@dharmdiam.com
Affiliated Companies:-
Dharm Diam B.V.B.A.,
Dharm
Exim (Exporters of Diamonds & Diamond Jewellery),
Dharmanandan Diamonds Pvt. Ltd.,
BUSINESS REGISTRATION NUMBER
34748434
COMPANY FILE NUMBER
910307
MANAGEMENT
Managing Director: Mr. Manishkumar Vallabhbhai Mangukia
CAPITAL
Nominal Share Capital: HK$5,000,000.00 (Divided into 500,000 Ordinary shares of HK$1.00 each and 450 Preference shares of HK$10,000.00 each)
Issued Share Capital: HK$3,570,000.00
SHAREHOLDERS: (As
per registry dated 07-07-2008)
|
Name |
|
No. of shares |
|
|
|
|
Ordinary |
Preference |
|
Dharmanandan Diamonds Pvt. Ltd. G-14, Prasad
Chambers, Opera House, |
|
12,600 |
63 |
|
Manishkumar Vallabhbhai MANGUKIA |
|
24,500 |
122 |
|
Hareshbhai Ramajibhai PATEL |
|
14,000 |
70 |
|
Vipulbhai Purshottambhai SUTARIYA |
|
18,900 |
95 |
|
|
|
–––––– |
––– |
|
|
Total: |
70,000 ===== |
350 === |
DIRECTORS: (As
per registry dated 07-07-2008)
|
Name (Nationality) |
Address |
|
Hareshbhai Ramajibhai PATEL |
6 Dharmjivan Soc, Near
Gurukul, Vedroad, |
|
Manishkumar Vallabhbhai MANGUKIA |
Flat C, 5/F., |
|
Vipulbhai Purshottambhai SUTARIYA |
16/B Balvant, |
SECRETARY: (As
per registry dated 07-07-2008)
|
Name |
Address |
|
|
Sovereign Secretaries (HK) Ltd. |
|
280990 |
HISTORY
The subject was incorporated on 7th July, 2004 as a private limited liability company under the Hong Kong Companies Ordinance.
Formerly
the registered address of the subject was located at Suite 1-3, 16/F., Kinwick
Centre,
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of diamonds and jewellery.
Employees: 8.
Commodities Imported:
Markets: Asia, Europe,
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$5,000,000.00 (Divided into 500,000 Ordinary shares of HK$1.00 each and 450 Preference shares of HK$10,000.00 each)
Issued Share Capital: HK$3,570,000.00
Mortgage or Charge: (See attachment)
Profit & Loss: Making a small profit every years.
Condition: Keeping in an active state.
Facilities: Making active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Bankers:-
Wing
Lung Bank Ltd.,
Bank
of
Antwerpse
Standing:
GENERAL
Dharam Creations (HK) Ltd.
is jointly owned by a number of Indian. Its
main affiliated company is Dharmanandan Diamonds Pvt. Ltd., an India-based
firm.
The subject is a subsidiary
company of Dharmanandan Group [Dharmanandan] which is one of the largest
manufacturers of bigger size diamonds in
The subject is dealing in
0.01 cts to 3 cts Diamond with D-J colour VVW.
Prices are competitive.
The subject is dealing in
the following diamonds: Loose Diamonds, Certified Diamonds, Pearls, Loose
Diamond Stones, Loose Round Diamonds, Loose Polish Diamonds, Loose cut
diamonds, Colour Diamonds, Clarity Diamonds, Carats Diamonds, Loose Princess
Diamond, Loose Emerald Diamond, Polished diamonds, Loose Diamond Stone, Round
Diamond, Loose Cut Diamond, GIA Certified Diamonds, Princess, Marques, Pears,
Baguettes, etc.
The subject’s products are
exported to
Dharmanandan, founded in
1992, is a Sightholder of the Diamond Trading Company [DTC]. Its factory is in
Dharmanandan got ISO
9001-2000 certification in 2008.
Currently, Dharmanandan has
set up an office in
Business chiefly handled by
Mr. Manishkumar Vallabhbhai Mangukia who is a Hong Kong ID Card holder, the
subject is fully supported by Dharmanandan.
Annual sales turnover is significant.
On the whole, consider the subject good for
normal business engagements.
REMARKS:
Court Cases: None per our.
Property information of the
company
1. Property Location: Unit 7 on 1/F., Chevalier House,
Owner: Dharam Creations (HK) Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
28-03-2008 |
- |
Bank of |
Mortgage to secure general banking facilities |
2. Property Location: 5/F. of Block A,
Owner: Dharam Creations (HK) Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
15-07-2008 |
- |
Wing Lung Bank Ltd., |
Mortgage to secure general banking facilities |
MORTGAGE OR CHARGE
|
Date |
Particulars |
Amount |
|
28-03-2008 |
Instrument: Mortgage Property: 193/19,060th parts or shares of and in The Remaining Portion of Kowloon Inland Lot No. 7072 and Kowloon Inland Lot Nos. 8670, 8567 & 7074 (Unit 7 on 1/F. of Chevalier House, 45-51 Chatham Road South, Kowloon, Hong Kong.) Mortgagee: Bank of |
To secure all moneys in respect of general banking facilities |
|
15-07-2008 |
Instrument: Mortgage Property: 1/16th part or share of and in section A of Subsection 1 of Section A of Kowloon Inland Lot No. 6018 (5/F. of Block A of Kimberley Mansion, 15 Austin Avenue, Kowloon, Hong Kong.) Mortgagee: Wing Lung Bank Ltd., |
To secure all moneys in respect of general banking facilities |
|
13-09-2008 |
Instrument: Debenture Property: 1) All stocks shares bonds and securities of any kind whether marketable or otherwise and all other interests including loan capital of the Company 2) All book and other debts revenues and claims 3) The uncalled capital goodwill and all patents patent applications trade marks trade names registered designs and copyrights and all licences and ancillary and connected rights 4) The undertaking and all other assets of the Company Mortgagee: Antwerpse |
All money and the discharge of all obligations and liabilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.52 |
|
|
1 |
Rs.75.54 |
|
Euro |
1 |
Rs.63.12 |
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, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)