%20PRIVATE%20LIMITED%2012-Sep-2008_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
29.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
KREATION ART N CRAFTS DIVISION
OF KWALITY MARBLES AND HANDICRAFTS (INDIA) PRIVATE LIMITED |
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Registered Office : |
211, 2nd Floor, Nigos Building, Plot No1-2,
Cama Industrial Estate, Near Petrol Pump, W.E.Highway, Goregaon (East) Mumbai
– 400 063, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
04.04.2002 |
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Com. Reg. No.: |
135412 |
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CIN No.: [Company
Identification No.] |
U14101MH2002PTC135412 |
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IEC No.: |
0306017121 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMK10212G |
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PAN No.: [Permanent
Account No.] |
AACCK0651L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Wooden, Marbles and Gem Stones and Trader of Metal
Items. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 12000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. Nothing adverse reported. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Mangesh Jadhav |
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Designation : |
Accountant |
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Contact No.: |
91-9920971747 |
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Date : |
27.09.2008 |
LOCATIONS
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Registered Office : |
211, 2nd Floor, Nigos Building, Plot No1-2,
Cama Industrial Estate, Near Petrol Pump, W.E.Highway, Goregaon (East) Mumbai
– 400 063, Maharashtra, India |
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Tel. No.: |
91-22-26851264 |
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Mobile No.: |
91-9920752746 / 9820126308 / 9920971747 |
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Fax No.: |
91-22-26851269 |
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E-Mail : |
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Website : |
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Area : |
450 Sq. ft. |
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Location : |
Owned |
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Factory : |
Located at ·
Rajasthan |
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Branch Office : |
22, The HUB, Nirlon House, W.E. Highway, Mumbai – 400 098,
Maharashtra, India |
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Tel No.: |
91-22-26862472 |
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Fax No.: |
91-22-26862472 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Akash Dhupar |
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Designation : |
Director |
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Address : |
A-1.12, Sahayadri Chs Limited, Asha Nagar, Thakur Complex, Kandivali
(East), Mumbai – 400 101, Maharashtra, India |
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Date of Birth/Age : |
25 Years |
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Qualification : |
M.B.A. |
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Tel No.: |
91-22-28544229 |
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Name : |
Mr. Lalit Dhupar |
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Designation : |
Director |
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Address : |
A-1.12, Sahayadri Chs Limited, Asha Nagar, Thakur Complex, Kandivali
(East), Mumbai – 400 101, Maharashtra, India |
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Date of Birth/Age : |
42 Years |
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Qualification : |
B.Com. |
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Tel No.: |
91-22-28548026 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Wooden, Marbles and Gem Stones and Trader of Metal
Items. |
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Products : |
·
Brass ·
Gem Stone Work ·
Marble ·
Oxide Copper ·
Painting ·
Stone ·
Teracota Pair ·
While Metal ·
Wood |
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Exports : |
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Countries : |
France |
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Terms : |
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Selling : |
Cash and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Cash and Credit (30 days / 60 days / 90 days) |
GENERAL
INFORMATION
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Customers : |
·
Wholesalers ·
Retailers |
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No. of Employees : |
6 |
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Bankers : |
Oriental Bank of Commerce, Borivali (West), Mumbai – 400 092,
Maharashtra, India |
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Facilities : |
O/D Rs.2.500 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Jayesh and Shankar Associates Chartered Accountants |
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Parent Company : |
Kwality Marbles and Handicrafts Private Limited Address : B9-A, Sukher
Rajastar |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
90000 |
Equity Shares |
Rs.10/- each |
Rs.0.900 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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89250 |
Equity Shares |
Rs.10/- each |
Rs.0.893
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.893 |
0.827 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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1.487 |
1.206 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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2.380 |
2.033 |
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LOAN FUNDS |
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1] Secured Loans |
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4.442 |
5.396 |
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2] Unsecured Loans |
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3.500 |
1.320 |
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TOTAL BORROWING |
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7.942 |
6.716 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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10.322 |
8.749 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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7.297 |
6.745 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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3.714 |
2.007 |
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Sundry Debtors |
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1.384 |
2.435 |
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Cash & Bank Balances |
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0.254 |
0.104 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.569 |
0.411 |
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Total
Current Assets |
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5.921 |
4.957 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.419 |
2.464 |
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Provisions |
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0.477 |
0.489 |
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Total
Current Liabilities |
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2.896 |
2.953 |
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Net Current Assets |
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3.025 |
2.004 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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10.322 |
8.749 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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10.957 |
11.408 |
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Other Income |
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0.176 |
0.080 |
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Total Income |
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11.133 |
11.488 |
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Profit/(Loss) Before Tax |
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0.087 |
0.621 |
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Provision for Taxation |
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0.036 |
0.168 |
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Profit/(Loss) After Tax |
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0.051 |
0.453 |
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Expenditures : |
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Purchases |
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7.617 |
5.893 |
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Freight and Forwarding Charges |
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0.726 |
1.026 |
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Administrative, Selling and Other Expenses |
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3.306 |
3.804 |
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Interest and Financial Charges |
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0.766 |
0.423 |
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Increase/(Decrease) in Finished Goods |
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(1.707) |
(0.484) |
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Depreciation & Amortization |
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0.338 |
0.205 |
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Total Expenditure |
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11.046 |
10.867 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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PAT / Total Income |
(%) |
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0.46 |
3.94 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.79 |
5.44 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.66 |
5.31 |
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Return on Investment (ROI) (PBT/Networth) |
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0.04 |
0.31 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.55 |
4.76 |
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Current Ratio (Current Asset/Current Liability) |
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2.04 |
1.68 |
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance Chart
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Parameters |
Details |
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Existence Verification |
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Name |
KREATION ART N CRAFTS |
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Statutory Approvals |
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Income Tax Registration |
AACCK0651L |
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Central Sales Tax Registration |
27210015886 C |
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VAT/ TIN Registration |
27210015886 V |
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Import Export Code |
0306017121 |
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Name of Bank |
Oriental Bank of Commerce |
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Current Account Number |
0287410000200 |
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Account Since |
5 Years |
Trade Reference
·
K Raheja Universal
·
Nirmal Life Style, Mumbai
Web Details
·
Kreations was established in 2004, as a division
of Kwality Marbles and Handicarfts (India) Private Limited
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Aim to showcase Indian handicrafts and
artistic talent.
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The company procures art effects, sculptures,
statues and other decorative objects of marble, granite, stone, metal, wood,
and other materials in the class of handicrafts and corporate gift products as
well as it encourages young and unknown artist who makes water colour and
canvas paintings of various categories.
·
The company is today synonymous with high
quality art works in marble.
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The company is always on look for wholesalers,
retailers home and office decorators, interior designers and high class
furniture dealers interested in unique marble table tops inlaid with precious
and semi-precious (GEM) stones, where as small items like boxes, plates, trays,
trivets, coaster sets, flower vases, and fruit bowls etc. can be purchased from
the ready stock available in sufficient quantity, round the year.
Mission
Deep in the heart of India, beyond the reach
of tarred roads or even electricity, a dream flickers and takes shape. A dream
that is fuelled by a driving desire to succeed.
To change one's destiny and to bring back the
promise of a better tommorrow to a place that had none. And it is this innocent
dream that inspires the business.
To showcase and create global awareness about
wide, varied and colourful Indian culture and heritage in its many facets
through the work of unknown talented artisans and craftsmen in rural sectors
across the country and thereby imparting a sense of completion and recognition
to their traditional knowledge and rural background, enabling them to be
self-sufficient at their door steps, in their own environment from their own
villages and there by reversing the process of migration from rural to urban
sector and keeping alive the centuries
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] 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.43 |
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UK Pound |
1 |
Rs.85.38 |
|
Euro |
1 |
Rs.67.95 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
|
45 |
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 |
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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 |
|
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 |
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