MIRA
INFORM REPORT
|
Report Date : |
28.09.2011 |
IDENTIFICATION DETAILS
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Name : |
BHIMA JEELLERS |
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Registered
Office : |
45, Dickenson Road, Bangalore-560042, Karnataka |
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Country : |
India |
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Year of
Establishment : |
1999 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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Legal Form : |
Partnership concern with an unlimited liability of the partner. |
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Line of Business
: |
Trader of Jewellery items. |
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No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 established partnership concern having moderate track.
Mr. Pravin, Accounts Manager provided to us few general information but
denied to disclose other details of the concern. However, trade relations are
reported as fair. Business is active. Payment terms are unknown. The concern can be considered for business dealings 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.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
|
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 |
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Pravin |
|
Designation : |
Account Manager |
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Contact No.: |
91-80-25587712 |
|
Date : |
24.09.2011 |
LOCATIONS
|
Registered Office : |
45, Dickenson Road, Bangalore-560042, Karnataka, India |
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Tel. No.: |
91-80-25587712 |
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Fax No.: |
91-80-25586904 |
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E-Mail : |
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Website : |
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Location : |
Owned |
PARTNERS
|
Name : |
Mr. B. Krishnan |
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Designation : |
Partner |
Note: There are more partners but name not divulged.
KEY EXECUTIVES
|
Name : |
Mr. Pravin |
|
Designation : |
Account Manager |
BUSINESS DETAILS
|
Line of Business : |
Trader of Jewellery items. |
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Terms : |
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Selling : |
Cash, Credit (30 days) |
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Purchasing : |
Cash, Credit (30 days) |
GENERAL INFORMATION
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Customers : |
·
Wholesalers ·
Retailers ·
End Users |
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No. of Employees : |
120 (Approximately) |
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Bankers : |
·
Axis Bank, Bangalore Main Branch, India |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
|
|
Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
-- |
FINANCIAL DATA
[all figures are in
Rupees Millions]
Not Divulged
The above information has been declined by Mr. Pravin.
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
BHIMA JEWELLERS
GROUP COMPANY DETAILS
Bhima Group founded by Mr. Bhima Bhatta at
Alleppey (Kerala) during 1925. Over the years consequent to family bifurcations
second generation established individual business entities in different states
of South India, namely Kerala, Tamil Nadu and Karnataka.
At Karnataka region in Bangalore Mr. B.
Krishnan has established the Jewellery business.
Around 20 Group Showroom available in South
India
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PARTICULAR |
DETAILS |
|
Group Operation |
Trading in Gold, Diamond, Platinum, Silver,
Gem Stones, and other precious stones. Subject offers to their Elite client’s
jewellery products range in the above segment. Contemporary Designs as well
as Traditions patterns are offered including imported products. State of the art Showroom exhibits a very
wide range of Jewellery articles made out of Gold, Silver, Diamond and
Platinum materials. Other offerings include Accessories for Men, Gift
articles, as well as Gold and Silver Coins. |
|
Factory Area |
2500 Sq. Ft. |
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Total Production |
100 Plus |
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Membership |
All India Gold and Silver Merchants
Association Group has ISO : 9001 certification |
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Imports Countries |
·
Arabia ·
Turkey ·
Italy |
|
Export Countries |
·
Europe ·
USA ·
Middle East |
|
Bankers |
HDFC Bank, Bangalore |
|
Group Associates Companies Show Room Located
|
·
Alleppey ·
Kozhikode ·
Kannur ·
Sulthans Batheri ·
Trichur ·
Kottayam ·
Quilon ·
Trivandrum ·
Madurai |
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. 49.17 |
|
|
1 |
Rs. 76.65 |
|
Euro |
1 |
Rs. 66.63 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.