MIRA INFORM REPORT

 

 

Report Date :           

25.06.2011

 

IDENTIFICATION DETAILS

 

Name :

VARDHAMAN  INTERNATIONAL

 

 

Registered Office :

F-I, 11/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

03.12.2010

 

 

Com. Reg. No.:

53386504-000-12

 

 

Legal Form :

Sole Proprietorship.

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

----

NB

New Business

----

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

Company name

 

VARDHAMAN  INTERNATIONAL

 

 

Company ADDRESS

 

F-I, 11/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.

PHONE:            2312 2146

FAX:                 3904 6849

 

 

MANAGEMENT

 

Manager:  Mr. Nilesh Kantilal Doshi

 

 

SUMMARY

 

Establishment:                          3rd December, 2010.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond Trader.

 

Employees:                   Nil.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Too early to comment.

 

 

Company ADDRESS

 

Head Office:-

F-I, 11/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.

 

Associated Companies:-  (Same owner)

N R International, Hong Kong.

Parfect Trading Co., Hong Kong.

Note:    Both companies are located at Flat C, 6/F., Wah Fai Mansion, 38‑40 Granville Road, Tsimshatsui, Kowloon, Hong Kong.

 

Affiliated Companies:-  (Same address)

Dazzle Impex, Hong Kong.

Divine Impex, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

53386504-000-12

 

 

MANAGEMENT

 

Manager:  Mr. Nilesh Kantilal Doshi

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Nilesh Kantilal DOSHI

Residential Address:      A/2, Gautam Nagar Building, 4 Moti Nagar, Near Ambe Mata, Mandir Bhayandar (W), Thane, India.

 

 

HISTORY

 

The subject was established on 3rd December, 2010 as a sole proprietorship concern owned by Mr. Nilesh Kantilal Doshi under the Hong Kong Business Registration Regulations.

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, etc.

 

Employees:                   Nil.

 

Commodities Imported:   India, Belgium, other European countries, etc.

 

Markets:                       Japan, Southeast Asia, Europe, Middle East, etc.

 

Annual Turnover:            Too early to obtain figure.

 

Terms/Sales:                 L/C, T/T, etc.

 

Terms/Buying:               L/C, T/T, etc.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Too early to offer an opinion.

 

Condition:                      Business is under development.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments as required.

 

Commercial Morality:  Too early to comment.

 

Banker:                         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing:                      Small.

 

 

GENERAL

 

Vardhaman International is a sole proprietorship set up and owned by Mr. Nilesh Kantilal Doshi who is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.

The subject’s registered address is located at F-I, 11/F., Star Mansion, 3‑5 Minden Row, Tsimshatsui, Kowloon, Hong Kong where is supposed to be the residence of the sole proprietor when he is in Hong Kong.

The subject has no other employees.

Formerly there was another firm also known as Vardhaman International bearing BR No. 38936932 located at the same address.  This firm was a sole proprietorship set up on 14th February 2008 and owned by Mr. Nishank Harshaobhai Dagli who was also an Indian.  However, this firm has ceased business since 3rd December, 2010.  The subject is a new firm bearing a different BR No. 53386504.

Business commenced 3rd December, 2010, the subject is a diamond importer, exporter and wholesaler.  It is trading in loose diamonds, precious stones, ruby jade, gem sets, semi-precious stones, blue or coloured sapphire, etc.  Most of its commodities are imported from India, Belgium and other European countries, etc.  Business is still at the early stage.

Business handled by Doshi himself, the subject is just a one-man company.

The subject has got two affiliated companies located at its operating address, namely, Dazzle Impex and Divine Impex.  These firms are also diamond traders.

Besides operating the subject, Doshi is also the operator of the other two firms N R International and Parfect Trading Co..  Both firms are diamond traders but located at a different address.

The history of the subject is just over six months in Hong Kong.

On the whole, consider it good for business engagements on secured basis.

 

COURT CASES:            None per our.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.94

UK Pound

1

Rs.71.89

Euro

1

Rs.64.09

 

 

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 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%)

 

 

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.