MIRA
INFORM REPORT
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Report Date : |
04.01.2011 |
IDENTIFICATION DETAILS
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Name : |
MOHIT GEMS |
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Registered Office : |
Flat G, 9/F., |
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Country : |
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Date of Incorporation : |
13.06.1997 |
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Com. Reg. No.: |
21011682-000-06 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery
products. |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
MOHIT GEMS
ADDRESS
Flat G, 9/F.,
PHONE: Not available
FAX: Not available
(Formerly located at:
Flat M, 9/F., Block B,
MANAGEMENT
Manager: Mr. Maheshkumar
Zaverbhai Patel
SUMMARY
Establishment: 13th June, 1997.
Organization: Sole
Proprietorship.
Capital:
Not
disclosed.
Business Category: Diamond Trader.
Employees:
Nil.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd.,
Banking Relation: Fair.
ADDRESS
Head Office:-
Flat G, 9/F.,
BUSINESS REGISTRATION NUMBER
21011682-000-06
MANAGEMENT
Manager: Mr. Maheshkumar
Zaverbhai Patel
SOLE PROPRIETOR
Name: Mr. Maheshkumar Zaverbhai PATEL
Residential Address: Flat E,
11/F.,
HISTORY
The subject was established on 13th June, 1997 as a sole proprietorship
concern owned by Mr. Maheshkumar Zaverbhai Patel under the Hong Kong Business
Registration Regulations.
The subject became a partnership as Mr. Vallabhbhai Rajubhai joined in
as a partner on 7th August, 1997.
However, Rajubhai retired on 1st July, 2003.
Initially the subject was located at Flat E, 11/F., Union Mansion, 33‑35 Chatham
Road, Tsimshatsui, Kowloon, Hong Kong moved to Flat 1, 17/F., Star Mansion, 3-5
Minden Avenue, Tsimshatsui, Kowloon, Hong Kong in March 1999; to Flat M, 9/F.,
Block B, Golden Glory Mansion, 16 Carnarvon Road, Tsimshatsui, Kowloon, Hong
Kong in February 2004; to Flat G, 19/F., Windsor Mansion, 29-31 Chatham Road,
Tsimshatsui, Kowloon, Hong Kong in mid-May 2010; and further to Flat G, 9/F. of
the same building in late May 2010.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: All
kinds of diamonds and jewellery products.
Employees: Nil.
Commodities Imported:
Markets:
Terms/Sales:
L/C, D/P, T/T, etc.
Terms/Buying: L/C,
D/P, T/T, etc.
FINANCIAL INFORMATION
Capital: Not
disclosed.
Profit or Loss: Keeping a balance account most of the time.
Condition:
Business is
fairly active.
Facilities:
Making rather
active use of general banking facilities.
Payment: Met trade commitments on time.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp.
Ltd.,
Standing:
Small.
GENERAL
Mohit Gems is a sole proprietorship set up and owned by Mr. Maheshkumar
Zaverbhai Patel who is an Indian. The
subject had got a partner Mr. Vallabhbhai Rajubhai who retired on 1st
July, 2003.
The subject does not have its own operating office. Its registered address is located at Flat G,
9/F.,
The subject’s telephone number and fax number have not registered with
local telephone company nor listed on telephone directories.
The subject is a diamond importer, exporter and wholesaler. Raw materials, rough diamonds, cut and
polished diamonds are imported from
Business chiefly handled by Patel himself, the subject is just a one-man
company. Keeping a balance account or
just makes a very small profit in most of the years.
As the history of the subject is over thirteen and a half years in
COURT CASES: None
per our.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.67 |
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1 |
Rs.69.45 |
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Euro |
1 |
Rs.59.37 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.