MIRA INFORM REPORT

 

 

 

Report Date :

13.09.2008

 

IDENTIFICATION DETAILS

 

Name :

RUPANSH GEMS AND JEWELLERY

 

 

Registered Office :

3931, K G B Ka Rasta, 1st Crossing, Johri Bazar, Jaipur – 302 003, Rajasthan

 

 

Country :

India

 

 

Financials (as on) :

31.03.2007

 

 

Year of Establishment :

2006

 

 

IEC No.:

1307013716

 

 

TIN No.:

08272254878

 

 

PAN No.:

[Permanent Account No.]

AEKPG6792D

 

 

Legal Form :

Sole Proprietory Concern

 

 

Line of Business :

Manufacturer of Silver Jewellery (Ear Rings, Necklaces, Bacelets, Pendals and Gems, Semi Precious Stones Etc.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 3500

 

 

Status :

Small Concern

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject is a relatively small concern meeting its commitments slightly over times as reported. Trade relations are fair. Scale of activity is limited.

 

The concern can be considered good for small to mediocre business dealings.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Vivek Gangwal

Designation :

Proprietor

Date :

20.08.2008

 

 

LOCATIONS

 

Registered Office / Factory :

3931, K G B Ka Rasta, 1st Crossing, Johri Bazar, Jaipur – 302 003, Rajasthan, India

Tel. No.:

91-141-2569393

Mobile No.:

91-9461046701/ 9829265164/ 9413157618

Fax No.:

91-141-2569393

E-Mail :

rjewellery@yahoo.co.in

Area :

450 Sq. ft.

Location :

Owned

 

 

PROPRIETOR

 

Name :

Mr. Vivek Gangwal

Designation :

Proprietor

Address :

3931, K G B Ka Rasta, 1st Crossing, Johri Bazar, Jaipur – 302 003, Rajasthan, India

Date of Birth/Age :

34 Years

Qualification :

Graduate

Experience :

25 Years

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Silver Jewellery (Ear Rings, Necklaces, Bacelets, Pendals and Gems, Semi Precious Stones Etc.

 

 

Terms :

 

Selling :

Cash and Credit ( 30 days)

 

 

Purchasing :

Cash and Credit ( 30 days)

 

 

GENERAL INFORMATION

 

Customers :

v      End Users

 

 

No. of Employees :

15

 

 

Bankers :

v      Hong Kong and Shanghai Banking Corporation

Jaipur

 

Auditors :

 

Name :

H/ L Gangwal and Company

Chartered Accountants

Address :

Jaipur

 

 

CAPITAL STRUCTURE

 

Proprietor’s Capital :

 

Owned :

Rs. 0.700 million

Borrowed :

--

Total :

Rs. 0.700 million

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

SUMMARISED FIGURES

 

Particulars

 

 

31.03.2008

31.03.2007

Proprietor’s Capital

 

0.700

0.570

 

 

 

 

Fixed Assets

 

1.600

1.800

 

 

 

 

Inventories

 

0.290

0.160

 

 

 

 

Cash ands Bank

 

0.346

0.315

 

 

 

 

Current Liabilities

 

3.600

3.300

 

 

 

 

Misc. Expenses

 

0.180

0.105

 

 

 

 

Sales Turnover

 

4.000

3.400

 

 

 

 

Profit/Loss for the year

 

0.180

0.150

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Trade References

 

 

v      Blueish Green Rocks, Jaipur

 

As Per Website Details

 

They are a creative team of fashion jewelry designers, well known for the classic jewelry pieces. The expertize lies in providing an amazing collection of glittering crystals, invaluable gems like Tsavorite and Tanzanite, and beautiful silver jewelry pieces as an epitome of vintage beauty meeting the contemporary charm. Established in the year 2006, Subject has brilliantly created a niche for itself in the industry within a very short span of time, owing to its fantastic range of unique, original and innovative jewelry products.


They are a highly reputed manufacturer and exporter dealing in a range of items like Silver Rings, Bracelets, Pendants, Necklace Sets, Earrings with gemstones, Victorian Jewelry and Semi Precious Stones like ruby, emerald and sapphire beads, long beads (maniya), drops; tsavorite, tanzanite - cut stones, cabs, drops and beads; smoky, lemon topaz, rose quartz, amethyst - cut stones, cabs, beads, chips and fancy shapes in all sizes. All these products categorized as Silvery Jewelry and Victorian Jewelry, are carefully designed by the talented team of costume jewelry designers and model makers.


They also import rough gemstones like Tsavorite and Tanzanite from Africa, polish them to perfection and stud the classic jewelry pieces with them. The dash of high fashion and premium quality products has earned Rupansh Gems and Jewellery a great reputation in the market. At present, they supply the products all over the country, and also abroad in USA and UK, where they are highly adorned for their premium quality and fantastic designs.

 

Infrastructure

The success earned by us and the reputation that they are enjoying in the industry stands upon a strong base - the robust infrastructure. The manufacturing unit of Rupansh Gems and Jewellery is loaded with facilities like a sophisticated manufacturing unit, an in-house quality checking lab, and a design and processing unit. In addition, they are also empowered with the dedicated service of the skilled craftsmen who give them a cutting edge over others, in the field.

 

 

 

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. 45.77

UK Pound

1

Rs. 80.67

Euro

1

Rs. 64.20

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

2

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

27

 

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions