MIRA
INFORM REPORT
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Report Date : |
22.09.2011 |
IDENTIFICATION DETAILS
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Name : |
VUMMIDI BANGARU JEWELLERS |
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Registered Office : |
Rani Seethai Hall, 603 Anna Salai, Chennai – 600006, Tamilnadu |
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Country : |
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Financials (as on) : |
31.03.2009 |
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Year of Establishment |
1900 |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Trader of Jewellery. |
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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Maximum Credit Limits : |
USD 20000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established partnership concern having moderate track.
The management denied to disclose any information about the concern.
Therefore, the report is prepared from old database of our company. Trade
relations are reported as fair. Business is active. Payment are unknown. The Concern can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
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Name : |
Mr. Venkat |
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Designation : |
Account Department |
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Date : |
20.09.2011 |
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Name : |
Ms. Shakila |
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Designation : |
Account Department |
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Date : |
20.09.2011 |
LOCATIONS
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Registered Office : |
Rani Seethai Hall, 603 Anna Salai, Chennai – 600006, |
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Tel. No.: |
91-44-28292003 / 28292004 / 28291573 / 28291574 |
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E-Mail : |
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Website : |
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Location : |
Owned |
KEY EXECUTIVES
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Name : |
Mr. Venkat |
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Designation : |
Account Department |
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Name : |
Ms. Shakila |
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Designation : |
Account Department |
PARTNERS
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Name : |
Mr. Raghunath Vummidi |
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Designation : |
Partner |
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Name : |
Mr. Jitendra Vummidi |
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Designation : |
Partner |
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Name : |
Mr. Amarendra Vummidi |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Trader of Jewellery. |
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Products : |
v
Gold v
Diamonds v
Paltinum’ v
Silver v
Solitarires v
Masterpieces v
Giftables v
Gemstone Jewellery v
Stones And Strings |
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Exports : |
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Products : |
Jewellery |
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Countries : |
United States and European Countries |
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Imports : |
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Products : |
Diamonds |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
L/C, Cash, Credit |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
115 (In office) |
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Bankers : |
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ABN Amro Bank, Chennai Branch v
Andhra Bank, Chennai |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shashi Rao and Company Chartered Accountant |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.000 Millions (Approximately) |
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Borrowed : |
-- |
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Total : |
Rs.5.000 Millions (Approximately) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2009 |
31.03.2008 |
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Sales Turnover ( Approximately ) |
950.000 |
900.000 |
Expected Sales (2009-10) : Rs.1000.000 Millions
LOCAL AGENCY FURTHER INFORMATION
WEBSITES DETAILS
PROFILE
Vummidi Bangaru Jewellers (VBJ) was established in
VBJ Collections are true works of art, transforming inspirations from nature, precious stones and finest metals into creations that are sought-after by men and women of all ages and traditions.
The business is today managed by Vummidi Raghunath, who is assisted by his two sons Vummidi Jithendra and Vummidi Amarendra
Vummidi Shymala Raghunath helps customers select the appropriate piece of jewellery. While Vummidi Raghunath takes pride in personally inspecting the quality and finish of all creations, backed by the 45 Vummidi Shymala Raghunath helps customers select the appropriate piece of jewellery. While Vummidi Raghunath takes pride in personally inspecting the quality and finish of all creations, backed by the 45 years of versatile experience he enjoys.years of versatile experience he enjoys.
VBJ is an ISO 9001-2000 company, conforming to exacting international standards.
We offer only the finest stones and precious metals, using the best designers
and craftsmen.
They proud of the fact that they have created some of the most special jewellery you’ll find.
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 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.89 |
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1 |
Rs.75.31 |
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Euro |
1 |
Rs.65.64 |
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.