MIRA INFORM REPORT
|
Report Date : |
04.09.2008 |
IDENTIFICATION DETAILS
|
Name : |
AAROHI DIAMONDS LTD. |
|
|
|
|
Registered Office : |
Unit 13A, 9/F., Heng Ngai Jewelry Centre, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
07.11.2003 |
|
|
|
|
Com. Reg. No.: |
34064068 |
|
|
|
|
Legal Form : |
Private Limited Company. |
|
|
|
|
Line of Business : |
Importer and Exporter of all kinds of Diamonds
and Jewellery Products. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
company Name
AAROHI DIAMONDS
LTD.
(Trading as CLASSIC JEWELS)
company Address
Unit 13A, 9/F., Heng Ngai Jewelry Centre,
PHONE: 2333 6078
FAX: 2333 6768
E-MAIL: admin@aarohidiamonds.com.hk
MANAGEMENT
Managing Director: Mr. Devang Hasmukhlal Shah
SUMMARY
Incorporated on: 7th November, 2003.
Organization Private
Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category Jewellery Trader.
Employees:
10.
Main Dealing Banker: ABN AMRO Bank N.V., Hong Kong Branch.
Banking Relation: Satisfactory.
company ADDRESS
Registered Head Office:-
Unit 13A, 9/F., Heng Ngai Jewelry Centre, 4
Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
Holding Company
Armaan SDW Ltd.,
Operating Company
Classic Jewels, Hong Kong. (Same address)
Affiliated Companies
Classic Diamonds Group of Companies
· Aarohi Diamonds Inc., US.
·
Aarohi Diamonds Israel Ltd.,
·
Classic Diamonds (
etc.
BUSINESS REGISTRATION NUMBER
34064068
COMPANY FILE NUMBER
869809
MANAGEMENT
Managing Director: Mr. Devang Hasmukhlal Shah
CAPITAL
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
SHAREHOLDERS
(As per registry
dated 07-11-2007)
|
Name |
|
No. of shares |
|
Classic Diamonds ( 1002, Prasad Chambers,
Opera House, Mumbai-400 004, |
|
490,000 |
|
Armaan SDW Ltd., [Formerly known as Armaan HK Ltd.] |
|
510,000 |
|
|
|
–––––––– |
|
|
Total: |
1,000,000 ======= |
DIRECTORS
(As per registry
dated 07-11-2007)
|
Name (Nationality) |
Address |
|
Devang Hasmukhlal SHAH |
78/39, |
|
Nirav Kumar BHANSALI |
C-42, Ramba, |
SECRETARY
(As per registry
dated 07-11-2007)
|
Name |
Address |
|
|
Essex Tax & Secretarial
Services Ltd. |
Room 606, 6/F.,
Tower A, Hunghom Commercial Centre, |
605716 |
HISTORY
The subject was incorporated
on 7th November, 2003 as a private limited liability company under the Hong
Kong Companies Ordinance.
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 products.
Employees: 10.
Commodities Imported:
Markets:
Terms/Sales: As per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
Indebtedness: US$2,491,200.00 (Total amount outstanding on all mortgages and charges as per last
Annual Return dated 07-11-2007)
Mortgage or Charge:-
Date of Debenture: 16-01-2008
Amount: All
monies
Property: 1) Assign to the Bank the proceeds of each
policy of insurance
2) Charge to the Bank by way of a floating
charge all shares, stock, bonds, debentures, certificates of deposit,
promissory notes, warrants, futures, options, funds, units, notes and other
securities
3) Charge to the Bank by way of floating charge
all book debts and other debts
4) Charge to the Bank by way of floating charge
all negotiable instruments at any time drawn, issued or endorsed in favour of,
or held by or on behalf of, the Customer in relation to Secured Assets
5) Charge to the Bank by way of floating charge
all funds standing to the credit of the Customer
6) Charge to the Bank by way of floating charge
all choses in action and claims now and in the future belonging to the Customer
Mortgagee: ICICI Bank Ltd., Hong Kong Branch.
Profit & Loss: Making a small profit every year.
Condition: Keeping in an active state.
Facilities: Making active use of general banking facilities.
Payment: Met obligations on time.
Commercial Morality: Satisfactory.
Bankers
· ABN AMRO Bank N.V., Hong Kong Branch.
· ICICI Bank Ltd., Hong Kong Branch.
· Indian Overseas Bank, Hong Kong Branch.
Standing:
GENERAL
Having issued 1 million
ordinary shares of HK$1.00 each, Aarohi Diamonds Ltd. is jointly held by two
firms: Classic Diamonds (
The subject’s business name
is “Classic Jewels” [CJ] which is trading in Classic Diamonds’ products. Currently, Classic Diamonds is listed on the
Bombay Stock Exchange. The subject is a
key member of the Classic Diamonds Group.
With an annual turnover in
excess of US$100 million, Classic Diamonds is one of the leading diamond
companies in
Classic Diamonds is one of
the largest Indian manufacturers of Stars (2 pointer) with a
monthly output of 2,500,000 stones.
Classic Diamonds is buying
its rough diamonds from the major mining companies, after processing the
finished products are sold to jewellery manufacturers or sent to its own
jewellery manufacturing factory.
Classic Diamonds’ jewellery
manufacturing factory is ISO 9001 certified. According to Classic Diamonds, its factory in
In February 2003, Classic
Diamonds launched its CJ flagship stores in
One of the subject’s
director Nirav Kumar Bhansali is also a director of Classic Diamonds.
Besides the subject, Classic
Diamonds Group has set up affiliated companies in the
The subject is fully
supported by the Classic Diamonds Group.
On the whole, consider the subject good for
normal business engagements.
COURT CASES : None
per our.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.45 |
|
|
1 |
Rs.79.08 |
|
Euro |
1 |
Rs.64.46 |
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 |
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 |
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.