MIRA
INFORM REPORT
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Report Date : |
27.09.2011 |
IDENTIFICATION DETAILS
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Name : |
KESHAV DIAMOND PRIVATE LIMITED |
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Registered
Office : |
525, Panchratna, Opera House, Mumbai – 400004, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
04.05.2007 |
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Com. Reg. No.: |
11-170606 |
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Capital
Investment/ Paid-up Capital: |
Rs. 0.100 Millions |
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CIN No.: [Company Identification
No.] |
U52393MH2007PTC170606 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Importer, Exporter and Trader of Diamonds |
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No. of
Employees: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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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 Limit : |
USD 4052 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be very low. However, Trade relations are reported
as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some
cautions. |
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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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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 |
LOCATIONS
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Registered Office : |
525, Panchratna, Opera House, Mumbai – 400004, |
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E-Mail : |
SOLE PROPRIETOR/PARTNERS/DIRECTORS
As on 30.09.2010
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Name : |
Mr. Rakesh Jeevraj Jain |
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Designation : |
Director |
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Address : |
525, Panchratna, Opera House, |
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Date of Birth/Age : |
20.06.1975 |
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Date of Appointment : |
04.05.2007 |
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DIN No: |
00532193 |
Other Directorship:
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U36910MH2002PTC138082 |
NISHA DIAMONDS PRIVATE LIMITED |
Director |
02-12-02 |
02-12-02 |
- |
Active |
NO |
|
2 |
U36912MH1983PTC031704 |
HINDON DIAMOND PVT LTD |
Director |
21-02-07 |
21-02-07 |
- |
Active |
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Name : |
Mr. Jeevraj Shobhagmal Jain |
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Designation : |
Director |
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Address : |
525, Panchratna, Opera House, |
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Date of Birth/Age : |
05.03.1947 |
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Date of Appointment : |
04.05.2007 |
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DIN No: |
01222941 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Rakesh Jeevraj Jain |
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3000 |
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Jeevraj Shobhagmal Jain |
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7000 |
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Total |
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10000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Importer, Exporter and Trader of Diamonds |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M.M.Modani and Company Chartered Accountant |
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Address : |
B -203, Shree Hari Park, Sagrampura, Near Centre Point Building, Surat
– 395002, Gujarat, India |
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PAN No: |
AAEFM2880L |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
10000 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.100
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.913 |
0.477 |
0.302 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.013 |
0.577 |
0.402 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
5.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
5.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.018 |
0.000 |
0.000 |
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TOTAL |
6.031 |
0.577 |
0.402 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.003 |
0.000 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.012
|
0.013 |
0.012 |
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Sundry Debtors |
1856.393
|
726.198 |
735.399 |
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Cash & Bank Balances |
16.647
|
76.198 |
61.881 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
110.214
|
314.110 |
68.139 |
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Total
Current Assets |
1983.266
|
1116.519 |
865.431 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
1977.965
|
1115.820 |
864.791 |
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Other Current Liabilities |
0.000
|
0.000 |
0.000 |
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Provisions |
0.273
|
0.122 |
0.238 |
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Total
Current Liabilities |
1978.238
|
1115.942 |
865.029 |
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Net Current Assets |
5.028
|
0.577 |
0.402 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
6.031 |
0.577 |
0.402 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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TURNOVER |
4550.207 |
2508.752 |
2489.369 |
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TOTAL
EXPENDITURE |
4550.997 |
2509.667 |
2488.930 |
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PROFIT BEFORE
TAX |
0.754 |
0.259 |
0.439 |
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Less |
TAX |
0.318 |
0.084 |
0.137 |
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PROFIT AFTER TAX
|
0.436 |
0.175 |
0.302 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.03
|
0.02 |
0.05 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.74
|
0.44 |
1.09 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1957.78
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1934.04 |
2151.81 |
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Current Ratio (Current Asset/Current Liability) |
|
1.00
|
1.00 |
1.00 |
LOCAL AGENCY FURTHER INFORMATION
Operation /
Working and Prospectus:
During the year the company has achieved turnover of Rs. 4550.207
Millions and Profit of Rs. 0.436 Millions your directors are trying to take up good
and profitable activities during the year.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.61 |
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|
1 |
Rs.76.67 |
|
Euro |
1 |
Rs.66.47 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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|
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
26 |
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%)
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.