MIRA
INFORM REPORT
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Report Date : |
17.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
BOMBAY JEWELLERY MANUFACTURERS PRIVATE LIMITED |
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Formerly Known As : |
BOMBAY JEWELLERY MANUFACTURERS |
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Registered Office : |
G-47, Gems and Jewellery Complex No. –1, SEEPZ, Andheri (East), Mumbai - 400
096, Maharashtra |
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Country : |
India |
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Date of Incorporation : |
25.04.2008 |
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Com. Reg. No.: |
181624 |
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CIN No.: [Company
Identification No.] |
U36911MH2008PTC181624 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMB05523A |
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PAN No.: [Permanent
Account No.] |
AAAFB6763B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and exporter of Diamond Studded Jewellery. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a new Company and took over the running
business of erstwhile partnership concern. Trade relations are fair. Business
is active. Genral financial position is good. Payments are reported as
usually made as per commitments. The company can be considered good for normal business
dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Pradeep Verulkar |
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Designation : |
Account Manager |
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Date : |
15.10.2008 |
LOCATIONS
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Registered Office / Factory : |
G-47, Gems and Jewellery Complex No. –1, SEEPZ, Andheri (East), Mumbai - 400
096, Maharashtra, INDIA. |
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Tel. No.: |
91-22-28291173 / 1564 |
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Mobile No.: |
91-9821039558 [Mr. Samir] |
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Fax No.: |
91-22-28292736 |
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E-Mail : |
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Website : |
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Area : |
4000- Sq. Ft. [Leased Office] |
DIRECTORS
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Name : |
Mr. Samir R. Mehta |
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Designation : |
Director |
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Address : |
902, Jamna Niketan, Manav
Mandir Road, Mumbai – 400 006 |
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Date of Birth/Age : |
22.09.1949 |
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Qualification : |
B. Sc. |
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Experience : |
34 years |
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Name : |
Mrs. Nayana S. Mehta |
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Designation : |
Director |
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Address : |
902, Jamna Niketan, Manav
Mandir Road, Mumbai – 400 006 |
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Date of Birth/Age : |
29.09.1949 |
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Qualification : |
B.Com. GIA Designer |
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Name : |
Mr. Nihar Mehta |
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Designation : |
Director |
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Address : |
902, Jamna Niketan, Manav
Mandir Road, Mumbai – 400 006 |
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Date of Birth/Age : |
18.12.1978 |
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Qualification : |
BBA, COSA, DGC, GIA |
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Experience : |
7 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and exporter of Diamond Studded Jewellery. |
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Products: |
· Rings · Pendants · Ear Rings · Bracelets · Necklace · Ensembe sets · Bangles |
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Exports : |
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Products : |
Diamond Studded Jewellery |
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Countries : |
·
U.S.A. ·
U.K. ·
Germany ·
Europe |
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Imports : |
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Products : |
Rough Diamonds |
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Countries : |
·
U.S.A ·
Italy ·
UK ·
Germany |
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Terms : |
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Selling : |
Cash and Credit ( 30 days) |
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Purchasing : |
Credit 120 Days |
GENERAL
INFORMATION
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Customers : |
Rosy Blue, New York |
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No. of Employees : |
172 |
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Bankers : |
Seepz Branch, Andheri (East),
Mumbai
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Facilities : |
PC
Rs. 60.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Parul A Shah and Company Chartered Accountants |
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Associates/Subsidiaries : |
2301, Panchratna Building,
Mama Parmanand Marg, Opera House, Mumbai – 400 004, Maharashtra Tel. No. 91-22-23630586 /
23618887 Fax. No. 91-22-23672047 Email – rasiklalbombay@yahoo.com Importers
of Diamond.
50, Main Street, White Planes,
New York, USA Wholesalers of loose diamonds
and finished Jewellery
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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Not Available |
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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 |
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472.000 |
LOCAL AGENCY
FURTHER INFORMATION
It is
in trade terms with :
- Leg-or, Italy
- A. S. Exports, Prasad Chambers, Mumbai – 400 004
- Shital
Manufacturing Company, Prasad Chambers, Mumbai – 400 004
- BDC,
USA
- UK-
Henderson the Jeweller
AS PER WEBSITE
Profile:
Subject is
one of the leading manufacturers and exporters of fine diamond studded gold
jewellery in India. Situated in the country’s commercial capital, BJM enjoys the privilege of a
presence in Mumbai’s SEEPZ - the special economic free trade zone.
BJM exports to many diverse markets
is, from the United States of America to the United Kingdom, France, Italy,
Germany and other member countries of the European Union. The versatile and
passionate design team, lead by GIA certified designers, has ensured customer
loyalty and endorsement the world over. Credit for BJM’s prolific design library goes to these artists who have
mastered the intricacies and exigencies of both American and European styling.
With a state-of-the-art manufacturing unit, JM is a rapidly growing
establishment with a strong commitment to customer satisfaction. The highly
dedicated and proficient management team strives to serve each customer
exclusively, with unerring attention to quality and efficiency.
Globally, clientele have appreciated the cost-efficient
techniques employed by the organization, which assure economical pricing. A 175
strong workforce labours tirelessly to guarantee the most superior service from
manufacturing to quality control, from prompt delivery to cordial after sales
service. Perhaps the most natural advantage as a jewellery manufacturer is BJM’s parent company, the reputed
Rasiklal and Sons, whose diamond assorting office is located in South Mumbai,
the very heart of the diamond market of India. This enables the company to
procure diamonds at the most competitive prices in the world and ensures an
uninterrupted supply of loose diamonds to the production team. In addition to
rounds, tapered baguettes and princess cuts, the inventory also holds fancy
cuts like marquise and pear.
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 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. 48.86 |
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UK Pound |
1 |
Rs. 84.22 |
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Euro |
1 |
Rs. 65.51 |
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 |
7 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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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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60 |
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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