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Report Date : |
26.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
STAR GEMS AND JEWELLERY PRIVATE LIMITED |
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Registered
Office : |
17/5, Sector A,
BDA Colony, Koh-e-fiza, |
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Country : |
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Date of
Incorporation : |
10.09.2009 |
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Com. Reg. No.: |
10-022376 |
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Capital
Investment / Paid-up Capital : |
Rs.2.600
millions |
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CIN No.: [Company Identification
No.] |
U52393MP2009PTC022376 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BPLS11025A |
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PAN No.: [Permanent Account No.] |
AANCS6645K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Diamond and Jewellery. |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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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 a successor of Star Gems, a proprietory concern started in
the year 2005. Trade relations are reported as fair. Business is active. Payments are
unknown. The company can be considered for business dealings with some caution.
Note: The management has not filed the financials of the company since its
inception. |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
INFORMATION PARTED BY (GENERAL DETAILS)
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Name : |
Mr. Saiyed Huzeifah |
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Designation : |
Director |
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Contact No.: |
91-9303132924 |
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Date : |
25.04.2012 |
LOCATIONS
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Registered Office/ Workshop : |
17/5, Sector A,
BDA Colony, Koh-e-fiza, |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9303132924 (Mr. Saiyed Huzeifah) |
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Fax No.: |
Not Available |
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E-Mail : |
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Corporate Office : |
47A, 2nd Floor, Above VLCC, Malviya Nagar, |
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Tel. No.: |
91-755-2550023 |
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Showroom : |
42, Ushapreet Complex, Malviya Nagar, New Market, |
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Regional Office : |
In Front of |
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Tel. No.: |
91-771-4066417 |
DIRECTORS
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Name : |
Mrs. Halima Hanif |
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Designation : |
Director |
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Address : |
17/5, Sector A,
BDA Colony, Koh-e-fiza, |
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Date of Birth/Age : |
09.11.1962 |
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Date of Appointment : |
10.09.2009 |
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DIN No.: |
02720047 |
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Name : |
Mr. Saiyed Hanif |
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Designation : |
Managing Director |
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Address : |
17/5, Sector A,
BDA Colony, Koh-e-fiza, |
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Date of Birth/Age : |
19.07.1962 |
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Date of Appointment : |
12.07.2010 |
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DIN No.: |
02720060 |
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Other Directorship :
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Name : |
Mr. Saiyed Huzeifah |
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Designation : |
Director |
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Address : |
17/5, Sector A,
BDA Colony, Koh-e-fiza, |
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Date of Birth/Age : |
10.07.1985 |
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Date of Appointment : |
10.09.2009 |
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DIN No.: |
02720922 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 07.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Halima Hanif |
|
3333 |
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Saiyed Hanif |
|
3334 |
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Saiyed Huzeifah |
|
3333 |
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Total |
|
10000 |
As on 17.07.2010
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Names of Allottees |
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No. of Shares |
|
Saiyed Huzeifah |
|
70000 |
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Saiyed Hanif |
|
96800 |
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Halima Hanif |
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83200 |
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Total |
|
250000 |
BUSINESS DETAILS
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Line of Business : |
Trader of Diamond and Jewellery. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers and End Users |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
Bank of |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each
|
Rs.10.000 millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
260000 |
Equity Shares |
Rs.10/- each
|
Rs.2.600
millions |
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|
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FINANCIAL DATA
[all figures are in
Rupees Millions]
NOT DIVULGED
The above information has been declined by Mr. Saiyed Huzeifah
(Director).
LOCAL AGENCY FURTHER INFORMATION
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Check List by Info Agents |
Available in Report (Yes / No) |
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1) Year of
Establishment |
Yes |
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2) Locality of
the firm |
Yes |
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3) Constitutions
of the firm |
Yes |
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4) Premises
details |
No |
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5) Type of
Business |
Yes |
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6) Line of
Business |
Yes |
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7) Promoter’s
background |
Yes |
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8) No. of
employees |
Yes |
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9) Name of person
contacted |
Yes |
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10) Designation
of contact person |
Yes |
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11) Turnover of
firm for last three years |
No |
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12) Profitability
for last three years |
No |
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13) Reasons for
variation <> 20% |
-- |
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14) Estimation
for coming financial year |
No |
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15) Capital in
the business |
Yes |
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16) Details of
sister concerns |
No |
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17) Major
suppliers |
No |
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18) Major
customers |
No |
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19) Payments
terms |
Yes |
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20) Export /
Import details (if applicable) |
No |
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21) Market
information |
-- |
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22) Litigations
that the firm / promoter involved in |
-- |
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23) Banking
Details |
Yes |
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24) Banking
facility details |
No |
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25) Conduct of
the banking account |
-- |
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26) Buyer visit
details |
-- |
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27) Financials,
if provided |
No |
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28) Incorporation
details, if applicable |
Yes |
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29) Last accounts
filed at ROC |
No |
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30) Major
Shareholders, if available |
Yes |
DIAMOND INDUSTRY –
-
From time immemorial,
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
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The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
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Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
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The diamond jewellery industry in
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND
SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of
losing Rs.20000.000 millions lent to a dozen diamond firms in
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Most of the money borrowed from the banks in the name of
their diamond business has been diverted in real estate and the share market.
The banks are not in a position to seize their properties because in many
cases, these were purchased in the name of their relatives and friends.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U52393MP2009PTC022376 |
|
Name of the
company |
STAR GEMS AND JEWELLERY PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
17/5, Sector A,
BDA Colony, Koh-e-fiza, E-Mail: adsquare@gmail.com |
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This form is for |
Creation of
charge |
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Type of charge |
Immovable
Property Book Debts Movable Property
(not being pledge) Others (third
party guarantee) |
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Particular of
charge holder |
Bank of E-Mail: bhopal.bhopal@bankofindia.com |
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Nature of
description of the instrument creating or modifying the charge |
1. Loan Sanction
Letter 2. Hypothecation
cum Loan Agreement |
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Date of
instrument Creating the charge |
09.04.2011 |
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Amount secured by
the charge |
Rs.4.950 millions
|
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: 5% over BOI base
rate presently 14.50% p. a. or as advised by the bank from time to time.
Interest to be servised on monthly basis. Terms of
Repayment: Repayable on
demand Margin: 25% Extent and
Operation of the charge: Hypothecation of
stock, raw materials and diamonds, jewellery etc. Others: Immovable party:
mortgage of land/house which belongs to Mrs. Jyoti Prajapati Third party
guarantee: 1) Mrs. Jyoti
Prajapati 2) Halima Hanif 3) Saiyed Hanif 4) Saiyed
Huzeifah |
|
Short particulars
of the property charged |
Hypothecation of
stock, raw material, plant and machinery, diamonds, jewellery etc. |
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.52.49 |
|
|
1 |
Rs.84.65 |
|
Euro |
1 |
Rs.69.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
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|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
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 |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.