MIRA
INFORM REPORT
|
Report Date : |
20.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
SAMRIDHI GOLD AND DIAMOND JEWELLERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Building No.2608-2613, Shop No.S-10, 2nd Floor, Gurudwara Road,
Bank Street, Karol Bagh, New Delhi – 110005 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
28.08.2009 |
|
|
|
|
Com. Reg. No.: |
55-193679 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.49.805
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36100DL2009PTC193679 |
|
|
|
|
IEC No.: |
0509080294 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS39788A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AANCS3077K |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Trading in Cut and Polished Diamonds, Manufacturing and Trading in
Gold Jewelleries. |
|
|
|
|
No. of Employees
: |
11 (Approximately) |
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 : |
Young Business |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively new and young business. Trade relations are
reported as fair. The valuation report provided is of a lesser value than the
proposal amount. No complaints have been heard from indirect or market
sources. It would be advisable to take advisable securities while dealing with
the subject. |
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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Arvind Jain |
|
Designation : |
Chief Executive Office |
|
Contact No.: |
91-9999885427 |
|
Date : |
14.06.2011 |
LOCATIONS
|
Registered/ Head Office : |
Building No.2608-2613, Shop No.S-10, 2nd Floor, Gurudwara Road,
Bank Street, Karol Bagh, New Delhi – 110005, India |
|
Tel. No.: |
91-11-45131039/ 45131040/ 47483585 |
|
Mobile No.: |
91-9999885427 (Mr. Arvind Jain) |
|
E-Mail : |
|
|
Area : |
500 sq. yard. |
|
Location : |
Owned |
|
|
|
|
Factory/ Branch Office : |
407, Diamond World Mini Bazaar Varachha Road, Surat, Gujarat, India |
DIRECTORS
(AS ON 30.11.2010)
|
Name : |
Mr. Vipin Kumar Guta |
|
Designation : |
Director |
|
Address : |
19, 1st Floor, Road no.33, Punjabi Bagh Extension, New
Delhi – 110026, India |
|
Date of Birth/Age : |
26.09.1980 |
|
Qualification : |
Graduate |
|
Experience : |
10 years |
|
Date of Appointment : |
18.08.2010 |
|
DIN No.: |
01772121 |
|
|
|
|
Name : |
Mr. Goverdhan Dass Asopa |
|
Designation : |
Director |
|
Address : |
D-180, Ashok Vihar – I, Delhi – 110052, India |
|
Date of Birth/Age : |
18.02.1960 |
|
Qualification : |
Graduate |
|
Experience : |
26 years |
|
Date of Appointment : |
01.09.2010 |
|
DIN No.: |
00035728 |
KEY EXECUTIVES
|
Name : |
Mr. Arvind Jain |
|
Designation : |
Chief Executive Office |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 31.03.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Vipin Kumar Guta |
|
3470500 |
|
Goverdhan Dass Asopa |
|
1510000 |
|
|
|
|
|
Total |
|
4980500 |
(AS ON 31.12.2010)
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading in Cut and Polished Diamonds, Manufacturing and Trading in
Gold Jewelleries. |
|
|
|
|
Products : |
Gold Diamond Jewellery and Precious and Semi- Precious Stone. |
|
|
|
|
Imports : |
|
|
Products : |
Precious and Semi-Precious Stones, Diamonds. |
|
Countries : |
Dubai |
GENERAL INFORMATION
|
Customers : |
· Gurudev Corporation · Om Sai Bulliond Gems · Soham Impex · Soni Gems |
|
|
|
|
Suppliers : |
· K S Jewellers · LA Solitaire Jewels Private Limited · Kushal Exports · Ford Asia International Limited, Hong Kong · Glints Global General Trading LLC, Dubai · Jamlu General Trading FZC, Dubai · Silver Jubilee Trading Limited · Glints Global Middle East FZC, Dubai |
|
|
|
|
No. of Employees : |
11 (Approximately) |
|
|
|
|
Bankers : |
· Union Bank of India · Punjab National Bank
· Axis Bank Karol Bagh, New Delhi, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Hirawat and Associates Chartered Accountant |
|
Address : |
618 F/2A/2E, Shankar Gali, Vishwas Nagar, Shahdara, New Delhi –
110032, India |
|
Tel. No.: |
91-11-22391572 |
|
Mobile No.: |
91-9891253533 |
|
Email : |
|
|
|
|
|
Associates/Subsidiaries : |
· Frisco Foods Private Limited B-4, Shankar Garden, Vikas Puri, Delhi – 110018, India Line of Business: Manufacturing and domestic Sales/ exports of
Biscuits and Bakery Products. Bank: Axis Bank – G. K. 1 · Frisco Worlds Foods Private Limited B-4, Shankar Garden, Vikas Puri, Delhi – 110018, India Bank : Axis Bank · V K G International Private Limited 173, Vikas Puri, New Delhi, India Manufacturing and Exports Readymade Garments. Bank: Punjab National Bank |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Share |
Rs.10/- each |
Rs.110.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4980500 |
Equity Share |
Rs.10/- each |
Rs.49.805
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
49.805 |
0.805 |
|
|
2] Share Application Money |
|
32.500 |
0.000 |
|
|
3] Reserves & Surplus |
|
76.365 |
14.816 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
158.670 |
15.621 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
158.670 |
15.621 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
3.589 |
1.745 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
93.660 |
51.101 |
|
|
Sundry Debtors |
|
233.054 |
384.322 |
|
|
Cash & Bank Balances |
|
11.212 |
0.865 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
3.059 |
1.666 |
|
Total
Current Assets |
|
340.985 |
437.954 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
183.599 |
423.456 |
|
|
Other Current Liabilities |
|
0.260 |
0.143 |
|
|
Provisions |
|
2.448 |
0.601 |
|
Total
Current Liabilities |
|
186.307 |
424.200 |
|
|
Net Current Assets |
|
154.678 |
13.754 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.403 |
0.122 |
|
|
|
|
|
|
|
|
TOTAL |
|
158.670 |
15.621 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1313.052 |
405.924 |
|
|
|
Other Income |
|
0.000 |
0.000 |
|
|
|
TOTAL (A) |
|
1313.052 |
405.924 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
1274.977 |
399.987 |
|
|
|
Direct Expenses |
|
12.442 |
0.906 |
|
|
|
Administrative and Selling Expenses |
|
13.585 |
2.034 |
|
|
|
Establishment Expenses |
|
2.477 |
0.796 |
|
|
|
Preliminary Expenses w/ off |
|
0.030 |
0.030 |
|
|
|
Deferred Revenue expenses W/Off |
|
0.078 |
0.000 |
|
|
|
TOTAL (B) |
|
1303.589 |
403.754 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
9.463 |
2.170 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.943 |
0.025 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
8.520 |
2.145 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.524 |
0.123 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
7.996 |
2.022 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
2.448 |
0.601 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
5.548 |
1.421 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
1.421 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
6.969 |
1.421 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
|
1222.200 |
392.400 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
1.11 |
17.65 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
0.42 |
0.35 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
0.61 |
0.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
2.32 |
0.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.05 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.17 |
27.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.83 |
1.03 |
LOCAL AGENCY FURTHER INFORMATION
OPERATING STATEMENT
(RS.
IN MILLIONS)
|
Particulars
|
31.03.2011 |
31.03.2012 |
|
|
|
|
|
Gross Sales |
|
|
|
Domestic Sales |
1600.000 |
1900.000 |
|
Export Sales |
0.000 |
0.000 |
|
Other Operating/ Revenue Income |
0.000 |
0.000 |
|
|
|
|
|
Total |
1600.000 |
1900.000 |
|
|
|
|
|
Less : Excise Duty |
0.000 |
0.000 |
|
|
|
|
|
Net Sales |
1600.000 |
1900.000 |
|
|
|
|
|
% rise [+] or fall [-] in net sales as compared to previous
year |
21.85% |
18.75% |
|
|
|
|
|
Cost
of Sales |
|
|
|
|
|
|
|
Raw Materials Consumed |
|
|
|
-
Imported |
1387.500 |
1660.000 |
|
-
Indigenous |
150.000 |
180.000 |
|
|
|
|
|
Others Stores and Spares |
|
|
|
-
Imported |
0.000 |
0.000 |
|
-
Indigenous |
0.000 |
0.000 |
|
|
|
|
|
Power and Fuel |
0.500 |
0.600 |
|
Direct Labour (Factory Wages and salaries) |
2.100 |
2.500 |
|
Other Manufacturing Expenses |
11.500 |
12.500 |
|
Depreciation |
0.475 |
0.400 |
|
Freight |
1.200 |
1.500 |
|
|
|
|
|
Sub
Total |
1553.275 |
1857.500 |
|
|
|
|
|
Add: Opening Stock-In-Process |
23.740 |
25.000 |
|
|
|
|
|
Sub
Total |
1577.015 |
1882.500 |
|
|
|
|
|
Less: Closing Stock-In-Process |
25.000 |
30.000 |
|
|
|
|
|
Cost
of Production |
552.015 |
1852.500 |
|
|
|
|
|
Add: Opening Stock of Finished Goods |
39.318 |
35.000 |
|
|
|
|
|
Total |
1591.333 |
1887.500 |
|
|
|
|
|
Deduct: Closing Stock of Finished Goods |
35.000 |
40.000 |
|
|
|
|
|
SUB TOTAL (Total
cost of sales) |
1556.333 |
1847.500 |
|
|
|
|
|
Selling, General and Administrative Expenses |
18.500 |
19.000 |
|
|
|
|
|
Sub
Total |
1574.833 |
1866.500 |
|
|
|
|
|
Operating Profit before interests |
25.167 |
33.500 |
|
|
|
|
|
Interests |
12.000 |
14.000 |
|
|
|
|
|
Operating Profit After Interests |
13.167 |
19.500 |
|
|
|
|
|
Other Non Operating Income |
0.000 |
0.000 |
|
Other Non Operating Expenses |
0.100 |
0.100 |
|
|
|
|
|
Net
of Non-operating Income and Expenses |
(0.100) |
(0.100) |
|
|
|
|
|
Profit
before Tax/ Loss [PBT] |
13.067 |
19.400 |
|
|
|
|
|
Provision for taxes |
4.400 |
6.402 |
|
|
|
|
|
Net
Profit / Loss [PAT] |
8.667 |
12.998 |
|
|
|
|
|
Retained Profit |
8.667 |
12.998 |
|
|
|
|
|
Retained profit/ Net Profit % age |
100.00% |
100.00% |
-----------------------------------------------------------------------------------------------------------------------------
BALANCE SHEET
(RS.
IN MILLIONS)
|
Particulars
|
31.03.2011 |
31.03.2012 |
|
|
Provisional |
Projected |
|
|
|
|
|
Short Term Borrowing from Bank |
|
|
|
i. From Application Bank |
50.000 |
60.000 |
|
ii. From Other Banks |
0.000 |
0.000 |
|
|
|
|
|
SUB
TOTAL (A) |
50.000 |
60.000 |
|
|
|
|
|
Short Term Borrowings From Others |
0.000 |
0.000 |
|
Sundry Creditors (Trader) |
250.000 |
280.000 |
|
Advances Payment from customers |
0.000 |
0.000 |
|
Provision For Taxes |
4.400 |
6.402 |
|
Creditor for Expenses |
0.000 |
0.000 |
|
Dividend Payable |
0.000 |
0.000 |
|
Other Statutory Liabilities (due within one years) |
0.200 |
0.300 |
|
Installments of term loans and Deferred Payment Credits |
0.000 |
0.000 |
|
Other current Liabilities and Provisions (due within one
years) |
1.000 |
1.500 |
|
|
|
|
|
SUB
TOTAL (B) |
255.600 |
288.202 |
|
|
|
|
|
TOTAL
CURRENT LIABILITIES |
305.600 |
348.202 |
|
|
|
|
|
TERM
LIABILITIES |
|
|
|
|
|
|
|
Debentures |
0.000 |
0.000 |
|
Redeemable Preference Shares |
0.000 |
0.000 |
|
Term Loans |
0.000 |
0.000 |
|
Deferred Payment Credits |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
0.000 |
|
Term Deposit |
0.000 |
0.000 |
|
Deferred Tax Liability |
0.000 |
0.000 |
|
Other Term Liabilities |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
TERM LIABILITIES |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
OF OUTSIDE LIABILITIES |
305.600 |
348.202 |
|
|
|
|
|
NET
WORTH |
|
|
|
Equity Shares Capital |
|
|
|
Share Application Money |
56.305 |
56.305 |
|
Partner’s Current A/c |
0.000 |
0.000 |
|
General Reserve |
0.000 |
0.000 |
|
Revolution Reserve |
0.000 |
0.000 |
|
Reserves and Surplus |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
0.000 |
|
Share Premium Account |
0.000 |
0.000 |
|
Surplus (+) or deficit (-) in Profit and Loss Account |
0.000 |
0.000 |
|
Share Premium |
18.586 |
31.584 |
|
Share Application Money |
95.395 |
95.395 |
|
|
|
|
|
TOTAL
NET WORTH |
170.286 |
183.284 |
|
|
|
|
|
TOTAL
LIABILITIES |
475.886 |
531.486 |
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
Cash and Bank Balance |
2.906 |
2.306 |
|
Investments [Other than long term investments] |
30.000 |
37.500 |
|
Receivables other than deferred and exports |
312.000 |
340.000 |
|
Export receivables |
0.000 |
0.000 |
|
Government and other Trustee securities |
0.000 |
0.000 |
|
Fixed deposit with bank |
0.000 |
0.000 |
|
Domestic receivable Including BP/ BD |
0.000 |
0.000 |
|
|
|
|
|
INVENTORY |
|
|
|
|
|
|
|
Raw Materials |
|
|
|
- Imported |
30.000 |
35.000 |
|
- Indigenous |
5.000 |
5.000 |
|
|
|
|
|
Stock in Process |
25.000 |
30.000 |
|
Finished Goods |
35.000 |
40.000 |
|
Other Consumable Spares |
0.000 |
0.000 |
|
Advances to suppliers |
23.000 |
26.000 |
|
Advance Payment of Taxes |
6.000 |
8.000 |
|
Other Current Assets |
3.300 |
4.500 |
|
|
|
|
|
TOTAL
CURRENT ASSETS |
472.206 |
528.306 |
|
|
|
|
|
FIXED
ASSETS |
|
|
|
|
|
|
|
Gross Block (Land and Building Machinery) |
4.500 |
4.500 |
|
Depreciation to date |
1.123 |
1.523 |
|
|
|
|
|
NET BLOCK
|
3.377 |
2.977 |
|
|
|
|
|
OTHER
NON CURRENT ASSETS |
|
|
|
|
|
|
|
Investments in sub |
0.000 |
0.000 |
|
Advances to suppliers of Capital goods and contractors |
0.000 |
0.000 |
|
Investment in Others |
0.000 |
0.000 |
|
Other Non-Current Investment |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
OTHER NON CURRENT ASSETS |
0.000 |
0.000 |
|
|
|
|
|
Intangible Assets |
0.303 |
0.203 |
|
|
|
|
|
TOTAL
ASSETS |
475.886 |
531.486 |
|
|
|
|
|
Tangible Net Worth |
169.983 |
183.081 |
|
|
|
|
|
Net
Working Capital |
166.606 |
180.104 |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE
STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES
(RS.
IN MILLIONS)
|
Particulars
|
31.03.2011 |
31.03.2012 |
|
|
Estimated |
Projected |
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
|
A CURRENT ASSETS |
|
|
|
Raw Materials |
|
|
|
[a] Imported |
30.000 |
35.000 |
|
Months Consumption |
(0.26) |
(0.25) |
|
[b] Indigenous |
5.000 |
5.000 |
|
Months Consumption |
(0.40) |
(0.33) |
|
|
|
|
|
Other consumable spares |
|
|
|
Excluding those included 1 above |
|
|
|
[a] Imported |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
|
[b] Indigenous |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
|
|
|
|
|
Stock in process |
25.000 |
30.000 |
|
Months cost of production |
(0.19) |
(0.19) |
|
|
|
|
|
Finished goods |
35.000 |
40.000 |
|
Months cost of sales |
(0.27) |
(0.26) |
|
|
|
|
|
Receivable other than export and deferred receivables
[including bills purchased and discounted by bankers] |
312.000 |
340.000 |
|
Months domestic sales |
(2.34) |
(2.15) |
|
[excluding deferred payment sales] |
|
|
|
|
|
|
|
Export receivables [including bills purchased
and discounted by bankers] |
0.000 |
0.000 |
|
(Months Export Sales) |
0.000 |
0.000 |
|
|
|
|
|
Advance to suppliers (RM and Stores) |
23.000 |
26.000 |
|
|
|
|
|
Other current Assets Including cash and bank
Balance and Deffered receivable |
42.206 |
52.306 |
|
|
|
|
|
|
|
|
|
TOTAL CURRENT ASSETS |
472.206 |
528.306 |
|
|
|
|
|
B CURRENT LIABILITIES |
|
|
|
[Other than bank borrowing for working
capital] |
|
|
|
|
|
|
|
Creditors for purchases of raw materials and
stores and consumable spares |
250.000 |
280.000 |
|
Months Consumption |
(1.95) |
(1.82) |
|
|
|
|
|
Advances from customers |
0.000 |
0.000 |
|
|
|
|
|
Statutory liabilities |
0.200 |
0.300 |
|
|
|
|
|
Other current liability including short term
borrowing dividend payable, installment of DPG public deposit, debentures etc
|
5.400 |
7.902 |
|
|
|
|
|
TOTAL CRRENT LIABILITIES |
255.600 |
288.202 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF
MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(RS.
IN MILLIONS)
|
Particulars
|
31.03.2011 |
31.03.2012 |
|
FIRST
METHOD OF LENDING |
Estimated |
Projected |
|
|
|
|
|
Total current assets |
472.206 |
528.306 |
|
|
|
|
|
Others Current Liabilities |
255.600 |
288.202 |
|
[Other than bank borrowings and T L Installment] |
|
|
|
|
|
|
|
Working capital gap [WCG] |
216.606 |
240.104 |
|
|
|
|
|
Min. stipulated Net Working Capital – 25 % of total current assets other than Export Receivables |
54.152 |
60.026 |
|
|
|
|
|
Actual/ Projected net working capital |
166.606 |
180.104 |
|
|
|
|
|
Item 3 minus item 4 |
162.454 |
180.078 |
|
|
|
|
|
Item 3 minus item 5 |
50.000 |
60.000 |
|
|
|
|
|
Maximum permissible bank finance |
50.000 |
60.000 |
|
|
|
|
|
Excess borrowings, if any representing shortfall in NWC |
-- |
-- |
|
|
|
|
|
SECOND METHOD OF
LENDING |
|
|
|
|
|
|
|
Total current assets |
472.206 |
528.306 |
|
|
|
|
|
Others Current Liabilities |
255.600 |
288.202 |
|
[Other than bank borrowings and T L Installment] |
|
|
|
|
|
|
|
Working capital gap [WCG] |
216.606 |
240.104 |
|
|
|
|
|
Min. stipulated Net Working Capital – 25 % of total current assets other than Export Receivables |
118.052 |
132.077 |
|
|
|
|
|
Actual/ Projected net working capital |
166.606 |
180.104 |
|
|
|
|
|
Item 3 minus item 4 |
98.554 |
108.027 |
|
|
|
|
|
Item 3 minus item 5 |
50.000 |
60.000 |
|
|
|
|
|
Maximum permissible bank finance |
50.000 |
60.000 |
|
|
|
|
|
Excess borrowings, if any representing shortfall in NWC |
-- |
-- |
------------------------------------------------------------------------------------------------------------------------------
FUND FLOW STATEMENT
(RS.
IN MILLIONS)
|
Particulars
|
31.03.2011 |
31.03.2012 |
|
|
Estimated |
Projected |
|
SOURCES |
|
|
|
|
|
|
|
Net profit After Tax |
8.667 |
12.998 |
|
|
|
|
|
Depreciation |
0.475 |
0.400 |
|
|
|
|
|
Increase in Capital |
6.500 |
0.000 |
|
|
|
|
|
Increase in Term Liability |
0.000 |
0.000 |
|
|
|
|
|
Decrease in |
|
|
|
- Fixed
Assets |
0.000 |
0.000 |
|
-
Other Non Current Assets |
0.100 |
0.100 |
|
|
|
|
|
Others |
0.000 |
0.000 |
|
|
|
|
|
TOTAL SOURCES |
15.742 |
13.498 |
|
|
|
|
|
USES |
|
|
|
|
|
|
|
Net Loss |
0.000 |
0.000 |
|
|
|
|
|
Decrease in Term Liability |
0.000 |
0.000 |
|
|
|
|
|
Increase in |
|
|
|
-
Fixed Assets |
0.263 |
0.000 |
|
-
Other Non Current Assets |
0.000 |
0.000 |
|
|
|
|
|
Dividend Payments |
0.000 |
0.000 |
|
|
|
|
|
Other Unsecured Loans |
3.551 |
0.000 |
|
|
|
|
|
TOTAL USES |
3.814 |
0.000 |
|
|
|
|
|
Long Term Surplus (+) Deficit (-) |
11.928 |
13.498 |
|
|
|
|
|
Increase/ Decrease in current Assets (as per details Given Below) |
131.221 |
56.100 |
|
|
|
|
|
Increase/ decrease in current Liabilities other Than Bank Borrowing |
69.293 |
32.602 |
|
|
|
|
|
Increase/ decrease Working Capital Gap |
61.928 |
23.498 |
|
|
|
|
|
Net surplus (+)/ Deficit (-) |
(50.000) |
(10.000) |
|
|
|
|
|
Increase/ (Decrease) in Bank Borrowings |
50.000 |
10.000 |
|
|
|
|
|
Increase/
(Decrease) in Net Sales |
286.948 |
300.000 |
|
|
|
|
|
Break-Up of (4) |
|
|
|
|
|
|
|
Increase/ Decrease in Raw Material |
4.398 |
5.000 |
|
|
|
|
|
Increase/ Decrease in Stock in Process |
1.260 |
5.000 |
|
|
|
|
|
Increase/ Decrease in Finished Goods |
(4.318) |
5.000 |
|
|
|
|
|
Increase/ Decrease in Receivables |
|
|
|
Domestic |
78.946 |
28.000 |
|
Export |
0.000 |
0.000 |
|
|
|
|
|
Increase/ Decrease in Other Current Assets |
50.935 |
13.100 |
|
|
|
|
|
Total |
131.221 |
56.100 |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
(MR.
GOVERDHAN DASS ASOPA)
(RS.
IN MILLIONS)
ASSETS
IMMOVABLE
PROPERTY
|
Particulars |
Address |
Value |
|
|
|
|
|
Residential
Property |
D-180, D Block,
Ashok Vihar, Phase – 1, New Delhi – 110052, India |
Rs.15.000
Millions |
|
|
|
|
CASH
AND BANK BALANCE
|
Cash and Bank Balance |
Amount |
|
|
|
|
Cash and Bank |
Rs.0.300 Million |
|
|
|
LIFE
INSURANCE POLICIES
|
Particulars |
Surrender Value |
|
|
|
|
Life Insurance
Policy |
Rs.0.400 Million
|
|
|
|
OTHER
ASSETS
|
Particulars |
Amount |
|
|
|
|
Jewellery Worth |
Rs.1.000 Million
|
|
|
|
|
TOTAL ASSETS |
RS.16.700 MILLIONS |
|
NET WORTH |
RS.16.700 MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
(MR.
VIPIN KUMAR GUPTA)
(RS.
IN MILLIONS)
ASSETS
IMMOVABLE
PROPERTY
|
Particulars |
Address |
Value |
|
|
|
|
|
Residential
Property |
R-69, Ground
Floor, Model Town- III, Delhi, India |
Rs.5.600
Millions |
|
|
|
|
|
Commercial
Property |
Dariyapur
Village, Haryana, India |
Rs.18.600
Millions |
|
|
|
|
|
Resident
Property |
WZ 100-D, Sant
Garh, Delhi, India |
Rs.2.500
Millions |
|
|
|
|
|
Commercial
Property |
173, Site – II, Vikas
Puri, New Delhi, India |
Rs.3.000
Millions |
|
|
|
|
|
Commercial
Property |
2608-12, Shop
No.10, 2nd Floor, Gurudwara Road, Bank Street, Karol Bagh, New
Delhi – 110005, India |
Rs.3.500
Millions |
CASH
AND BANK BALANCE
|
Cash and Bank Balance |
Amount |
|
|
|
|
Cash and Bank |
Rs.0.500 Million |
|
|
|
LIFE
INSURANCE POLICIES
|
Particulars |
Surrender Value |
|
|
|
|
Life Insurance
Policy |
Rs.0.800 Million
|
|
|
|
OTHER
ASSETS
|
Particulars |
Amount |
|
|
|
|
Jewellery Worth |
Rs.0.250 Million
|
|
|
|
INVESTMENTS
IN BUSINESS
|
Name of the Firm |
Amount of Investment |
|
|
|
|
V. K. Gupta
International Private Limited |
20.000 |
|
Samridhi Gold
and Diamond Jewellers Private Limited |
25.000 |
|
|
|
|
Total |
45.000 |
------------------------------------------------------------------------------------------------------------------------------
REPORT OF VALUATION OF IMMOVABLE PROPERTY
PART
I – QUESTIONNAIRE
GENERAL
INFORMATION
|
Purpose for which valuation is made |
Fair Market Value For Mortgage Purpose |
|
|
|
|
Date as on which valuation is made |
07-06-2011 |
|
|
|
|
Name of the owner/ owners |
Mr. Naresh Jain, Mr. Mukesh Jain, Mr. Ajay
Jain and Mr. Manoj Jain all S/o Late Mr. Trilok Chand Jain |
|
|
|
|
Is the property is under joint ownership/
co-ownership, share of each such owner. Are the shares undivided |
Joint Ownership |
|
|
|
|
Brief Description of the property |
The property under reference is three
storied residential building on Plot admeasuring 279.55 sq. yds. |
|
|
|
|
Location, Street, Ward No. |
Plot No. 10, Road No. 32, East Punjabi
Bagh, Delhi —110026 |
|
|
|
|
Survey/ Plot No. of Land |
Plot No. 10, Road No. 32, East Punjabi
Bagh, Delhi —110026 |
|
|
|
|
Is the property situated in Residential /
Commercial / Mixed Area / Industrial Area? |
Residential Area |
|
|
|
|
Classification of Locality: High / Middle
/ Poor Class |
High Class |
|
|
|
|
Proximity to civic amenities like Schools,
Hospitals, Offices, market, Cinemas etc.. |
Available at reasonable distances |
|
|
|
|
Means and Proximity to surface
communication |
By Road |
|
|
|
|
LAND |
|
|
Area of Land supported by documentary proof,
shape etc. |
279.55 sq. yds. |
|
|
|
|
Road, Street, or Lane, on which the Land
is abutting |
N : Property No. 12 S : Property No. 8 E : Service Lane W: Road |
|
|
|
|
Is it Free Hold or Lease Hold? |
Free Hold |
|
|
|
|
Is there any restrictive covenant in
regard to use of land? |
Residential Land |
|
|
|
|
Does the Land fall in an area included in
any Town Planning Plan of Government or any statutory body? |
MCD |
|
|
|
|
IMPROVEMENT
|
|
|
Is the building owner occupied / tenanted
/ both |
Owner Occupied |
|
|
|
|
What is the Floor Space Index permissible?
Percentage actually utilized |
Owners to furnish sanction plan to the
Bank directly |
|
|
|
|
RENT
|
|
|
What is amount of the property tax? Who is
to bear it? Give details with documentary proof. |
Owner to advise |
|
|
|
|
Is the building insured? If so give the
Policy No. Amount for which it is insured and the annual premium. |
Owner to advise |
|
|
|
|
SALES
|
|
|
Give instance of sale of immovable
property in the locality on separate sheet indicating the name and address of
property, registration No. sale price and area of land sold. |
Properties are registered at much lower prices
than the actual transaction of sale / purchase. Hence fair market valuation
is based on, a. Market Survey and inquires for property
prices in the locality. b. Comparison of property prices in
similar neighboring localities. |
|
|
|
|
COST
OF CONSTRUCTION |
|
|
Year of Commencement of Construction and
year of competition |
1982 and Renovations made as and when
required. |
PART
II – VALUATION
|
Pursuant to instructions from Corporation Bank,
M - Block, Connaught Place Branch, New Delhi the undersigned inspected the
property located at Plot No. 10/32, East Punjabi Bagh, Delhi, with a view to
assess fair market value of the property as on the date of valuation. THE
VALUATION OF THE PROPERTY HAS BEEN MADE BY LAND AND BUILDING METHOD. VALUATION
OF LAND In absence of the availability of instances of sales in the immediate past in the locality and! or their being accurately recorded the prevailing land rates in the area as arrived at by diligent and judicious verbal inquiries from local and dependable estate agents, similar properties are marketable at Rs.2,75,000 to Rs.3,50,000 per sq. yd. The following factors have been taken to arrive at the land rates as mentioned below: • Govt. Policies. Demand / Availability and Market Trend. • Developments in the Area : Availability of Metro Connectivity, Construction of Shopping Malls, Motels, Hotels, Educational Institution, Schools, Govt. Offices etc. etc. Therefore considering shape, size, approach, orientation, utility, availability and location of the property, it is most reasonable and fair to adopt Land rates for valuation as Rs.3,00,000 per sq. yd Area of land = 279.55 sq. yd Thus, fair market Value of land (279.55 x
3,00,000) = Rs.83.865 Millions VALUE
OF STRUCTURE The Plinth Area / Covered Area has been
considered / taken for valuation as permitted by MPD – 2021, Building Bye
Laws for Residential Area. The construction of the property is
covered under normal type of specifications. Total covered area at all the floors =
5520 sft. app. Covered area rates adopted = Rs.750/ sft. Thus, Value of construction (5520 x 750) =
Rs.41,40,000 Note: The plinth area rates adopted for valuation are based on the
specifications adopted during the construction, prevailing market rates and
Services viz internal water supply and sanitary Installations, External
Service Connections, Internal Electric installations etc. etc and appropriate
deprecation has been accounted for arriving at fair and reasonable plinth
area rates. MARKET VALUE OF
PROPERTY = = Rs.88.005 Millions (value of land +
value of structure) The
realizable value has been taken @15% discount on fair market value = Rs.74.800 Millions. |
|
No. of Floors and Height / Plinth Area of
Floor |
Three Storey |
|
|
|
|
Year of Construction |
1982 |
|
|
|
|
Estimated Future Life |
45 years |
|
|
|
|
Type of construction Load Bearing walls/
RCC or steel Framed |
RCC Framed Structure |
|
|
|
|
Maintenance of Property |
Normal |
|
|
|
|
Type of Foundation |
Spread Brick Footing |
|
|
|
|
Walls |
BW in Cement Mortar |
|
|
|
|
Partitions |
BW in Cement Mortar |
|
|
|
|
Doors and Windows (Floor - Wise) |
MS/Wooden. |
|
|
|
|
|
|
|
Flooring (Floor — Wise) |
Mosaic Flooring |
|
|
|
|
Finishing (Floor — Wise) |
Cement Plastered |
|
|
|
|
Roofing and Terracing |
R.C.C. |
|
|
|
|
Special Architecture or Decorative Feature
if any |
Nil |
|
|
|
|
Electrical Installation • Internal Wiring Surface / Conduit • Class of Fitting |
Conduit Ordinary |
|
|
|
|
Sanitary Installation Their Class of Fittings |
Ordinary |
|
|
|
|
Compound Wall |
Brick work |
|
|
|
|
Sewage Disposal |
Connected to public sewer |
------------------------------------------------------------------------------------------------------------------------------
REPORT OF VALUATION OF IMMOVABLE PROPERTY
PART
I – QUESTIONNAIRE
GENERAL
INFORMATION
|
Purpose for which valuation is made |
Fair Market Value For Mortgage Purpose |
|
|
|
|
Date as on which valuation is made |
07-06-2011 |
|
|
|
|
Name of the owner/ owners |
Mr. Vipin Kumar Gupta S/o Mr. Jai Kishan
Gupta |
|
|
|
|
Is the property is under joint ownership/
co-ownership, share of each such owner. Are the shares undivided |
Sole Owner |
|
|
|
|
Brief Description of the property |
Shops Located at Second Floor in diamond Mall
Located at Gurdwara Road, Karol Bagh, New Delhi – 110005, India |
|
|
|
|
Location, Street, Ward No. |
Pvt. No.S-12, S-14 and S-15, M. No.2608 to
2613 and 2637, Gurdwara Road, Karol Bagh, New Delhi- 110005, India |
|
|
|
|
Survey/ Plot No. of Land |
Pvt. No.S-12, S-14 and S-15, M. No.2608 to
2613 and 2637, Gurdwara Road, Karol Bagh, New Delhi- 110005, India |
|
|
|
|
Is the property situated in Residential /
Commercial / Mixed Area / Industrial Area? |
Commercial Area |
|
|
|
|
Classification of Locality: High / Middle
/ Poor Class |
High Class |
|
|
|
|
Proximity to civic amenities like Schools,
Hospitals, Offices, market, Cinemas etc.. |
Available at reasonable distances |
|
|
|
|
Means and Proximity to surface
communication |
By Road |
|
|
|
|
LAND |
|
|
|
|
|
Road, Street, or Lane, on which the Land
is abutting |
N : Bank Street S : Services Lane E : Gurdwara Road W: Property No.2635 |
|
|
|
|
Is it Free Hold or Lease Hold? |
Free Hold |
|
|
|
|
Is there any restrictive covenant in
regard to use of land? |
Commercial Use |
|
|
|
|
Does the Land fall in an area included in
any Town Planning Plan of Government or any statutory body? |
MCD |
|
|
|
|
IMPROVEMENT
|
|
|
Is the building owner occupied / tenanted
/ both |
In Possession of the Owner and Interior
Works under advanced stage of completion.
|
|
|
|
|
What is the Floor Space Index permissible?
Percentage actually utilized |
Owners to furnish sanction plan to the
Bank directly |
|
|
|
|
RENT
|
|
|
What is amount of the property tax? Who is
to bear it? Give details with documentary proof. |
Owner to advise |
|
|
|
|
Is the building insured? If so give the
Policy No. Amount for which it is insured and the annual premium. |
Owner to advise |
|
|
|
|
SALES
|
|
|
Give instance of sale of immovable
property in the locality on separate sheet indicating the name and address of
property, registration No. sale price and area of land sold. |
Properties are registered at much lower
prices than the actual transaction of sale / purchase. Hence fair market
valuation is based on, a. Market Survey and inquires for property
prices in the locality. b. Comparison of property prices in
similar neighboring localities. |
|
|
|
|
COST
OF CONSTRUCTION |
|
|
Year of Commencement of Construction and
year of competition |
2006-07 |
PART
II – VALUATION
|
Pursuant to instructions from Corporation Bank, M - Block, Connaught
Place Branch, New Delhi the undersigned inspected the property located at
Pvt. No. S-12, 5-14 and S-15 M. No. 2608 to 2613 and 2637, Gurdwara Road, Karol
Bagh, New Delhi - 110005, with a view to assess fair market value of the
property as on the date of valuation. THE
VALUATION OF THE PROPERTY HAS BEEN MADE BY COMPOSITE METHOD. VALUATION
OF COMMERCIAL SPACE/ SHOP The property under reference is a commercial space/ shops
located at Second Floor, Dismount Mall. The commercial space having
proportionate rights in the land underneath with all the rights, titles,
interests, options, easements, appurtenances and privileges etc In absence of the availability of instances of sales in
the immediate past in the locality and/ or their being accurately recorded
the prevailing land rates in the area as arrived at by diligent and judicious
verbal inquiries from local and dependable estate agents, similar properties
are marketable at Rs.30,000 - 35,000 per sft for front shops and Rs.20,000-
25,000 per sft for rear side shops. • The owner has clubbed shop no. S-14 and S-15. • The shops are located at one of prime markets of gold
and diamond jewellery. Therefore considering shape, size, orientation, approach,
utility, availability and location of the property, it is most reasonable and
fair to adopt covered area rates for valuation as Rs.32,500 per sft for front
shops and Rs.22,500 for rear shops. Thus value of front shop - Pvt. No. S-12
(131 sft x 32,500) = Rs.4.258 Millions Thus value of rear shops - Pvt. No. S-14
and S-15 (400.5 sft x 22,500) = Rs.9.011 Millions Thus, fair market value of shops =
Rs.13.269 Millions (Say Rs.13.300
Millions) The
realizable value has been taken @20% discount on fair market value = Rs.10.600 Millions. |
|
No. of Floors and Height / Plinth Area of
Floor |
2nd Storey |
|
|
|
|
Year of Construction |
2006-07 |
|
|
|
|
Estimated Future Life |
60 years |
|
|
|
|
Type of construction Load Bearing walls/
RCC or steel Framed |
RCC Framed Structure |
|
|
|
|
Maintenance of Property |
Normal |
|
|
|
|
Type of Foundation |
Spread Brick Footing |
|
|
|
|
Walls |
BW in Cement Mortar |
|
|
|
|
Partitions |
BW in Cement Mortar |
|
|
|
|
Doors and Windows (Floor - Wise) |
Wooden |
|
|
|
|
Flooring (Floor — Wise) |
Wooden Flooring |
|
|
|
|
Finishing (Floor — Wise) |
Cement Plastered |
|
|
|
|
Roofing and Terracing |
R.C.C. |
|
|
|
|
Special Architecture or Decorative Feature
if any |
Nil |
|
|
|
|
Electrical Installation • Internal Wiring Surface / Conduit • Class of Fitting |
Conduit Superior |
|
|
|
|
Sanitary Installation Their Class of Fittings |
Ordinary |
|
|
|
|
Compound Wall |
-- |
|
|
|
|
No. of Lift and Capacity |
Yes |
|
|
|
|
Sewage Disposal |
Connected to public sewer |
------------------------------------------------------------------------------------------------------------------------------
PERSONAL ASSETS OF THE DIRECTORS
|
Name |
Description of the Assets Owned by them |
Amount (Rs. In Millions) |
|||
|
|
Particulars |
Address |
|
||
|
Mr. Vipin Kumar
Gupta |
Residential
Property |
R-69, Ground
Floor, Model Town – III, Delhi, India |
5.600 |
||
|
Commercial
Property |
Dariyapur
Village, Haryana, India |
18.600 |
|||
|
Resident
Property |
WZ-100 D, Sant Garh,
Delhi, India |
2.500 |
|||
|
Commercial
Property |
173, Site – II,
Vikas Puri, New Delhi, India |
3.000 |
|||
|
Commercial
Property |
2608-12, Shop
No.S-10, 2nd Floor, Gurudwara Road, Bank Street, Karol Bagh, New
Delhi – 110005, India |
3.500 |
|||
|
|
TOTAL |
33.200 |
|||
|
|
|
|
|||
|
Mr. G. D. Asopa |
|
15.000 |
|||
SWOT ANALYSIS OF THE UNIT
|
Strengths 1. Experienced Key
Personnel 2. Abundance of
Cheap and Skilled Labour in India specialized in the different area, cutting,
sorting, polishing etc. 3. Excellent
Marketing Network Spread Across the country. 4. Supportive
government industrial policy. 5. Strong
Financial Background 6. India is the
most technologically advanced diamond cutting centre in the world and the
products is the requirement of every person. |
Weakness Market
Competitions |
|
|
|
|
Opportunities Ever Increasing
Demand |
Threats --- |
------------------------------------------------------------------------------------------------------------------------------
FINANCIAL
HIGHLIGHTS
The company has profit of Rs.2.022 Millions before Tax during the
financial year ending 31st March 2010.
------------------------------------------------------------------------------------------------------------------------------
DETAILS ABOUT THE
BRIEF HISTORY OF THE FIRM
The company incorporated as a body corporate under the
Companies Act, 1956 on 28th of august 2009.The principal activity of the
company is dealing, cutting, polishing, assorting of all kind precious and
semi- precious stones and gold jewellery. The company procures gems and after
polishing and assorting, they sell in Domestic markets in Surat and other part
of the country. The company has already setup a showroom at Gurudwara Road,
Bank Street, Karol Bagh, New Delhi-110005, where retail cash sales also take
place.
With strong networks of the Company, they are optimistic of
occupying substantial market share in the industry. Established with a passion
to create a niche for itself, Company is professionally managed by a group of
enthusiastic individuals to take up the challenges and to meet the targets set
forth by the company. The Company has already achieved a gross turnover of
Rs.400.000 Millions in the year ended 31-03-2010 yielding a net profit Rs.2.000
Millions in a period of 2 months working. During the year (2010-11) sales of
Rs.1313.000 Millions has been achieved by the Co. and aiming to achieve the
targeted turnover of Rs.1600.000 Millions by 31-03-2012. The company is so far
debt free and the present level of business is managed by owned funds. The need
has emerged to seek higher amount of working capital funds required to meet the
projections hence the present proposal is mooted by the company. The Company
has already increased the Paid Up Capital and further Share Application money
of Rs.32.500 Millions has been received during the year 2010-11 to augment the
financial resources and to meet the margin money for working capital
requirement.
------------------------------------------------------------------------------------------------------------------------------
TRADE REFERENCE:
· Gurudev Corporation
· OM Sai Bullions Gems
· Soham Impex
· Soni Gems
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS
· Furniture and Fixtures
· Computers
· Office Equipment
· Plant and Machinery
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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 :
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.44.93 |
|
|
1 |
Rs.72.43 |
|
Euro |
1 |
Rs.63.62 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.