MIRA
INFORM REPORT
|
Report Date : |
17.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
DHARMANANDAN DIAMONDS PRIVATE LIMITED |
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Registered
Office : |
Bharat Diamond Bourse, FE-7011/12, F Tower, Bandra Kurla Complex,
Bandra (East), Mumbai – 400051, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
31.08.2007 |
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Com. Reg. No.: |
11-173674 |
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Capital
Investment / Paid-up Capital : |
Rs.80.000 Millions |
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|
|
CIN No.: [Company Identification
No.] |
U36912MH2007PTC173674 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD15331B MUMD12222A |
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PAN No.: [Permanent Account No.] |
AACCD6676J AACCD0906H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Diamonds, Gold and Silver Jewelery, Platinum Jewelery.
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|
No. of Employees : |
6700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 12000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a successor of Dharmanandan Diamonds, a Partnership concern
started in the year 1993. It is an established company having satisfactory track. Trade relation
are reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BBB (Long Term Rating) |
|
Rating Explanation |
Having Moderate degree of safety regarding
timely servicing of financial
obligation it carry moderate credit risk. |
|
Date |
December 2011 |
|
Rating Agency Name |
ICRA |
|
Rating |
A3+ (Short Term Rating) |
|
Rating Explanation |
Having Moderate degree of safety regarding
timely payment of financial obligation it carry higher credit risk. |
|
Date |
December 2011 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Amit Maniyar |
|
Designation : |
Accounts manager |
|
Contact No.: |
91-9892152184 |
|
Date : |
16.08.2012 |
LOCATIONS
|
Registered Office / Head Office : |
Bharat Diamond Bourse, FE-7011/12, F Tower, Bandra Kurla Complex,
Bandra (East), Mumbai – 400051, |
|
Tel. No.: |
91-22-40041001 / 2 / 3 / 4 |
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Mobile No.: |
91-9892152184 (Mr. Amit Maniyar) |
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Fax No.: |
91-22-66355533 |
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E-Mail : |
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Website : |
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Area: |
2800 Sq.ft |
|
Location : |
Owned |
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|
Factory : |
Behind Patel Faliya, Gotalawadi, |
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Tel. No.: |
91-261-2533777 |
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Fax No.: |
91-261-2533775 |
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Area: |
2800 Sq.ft |
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Location: |
Owned |
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|
|
DIRECTORS
As on 26.07.2010
|
Name : |
Mr. Laljibhai Tulshibhai Patel |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
52, Narayanmuni Nagar, |
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Date of Birth/Age : |
28.11.1955 |
|
Date of Appointment : |
31.08.2007 |
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DIN No : |
01539972 |
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|
|
Name : |
Mr. Tulsibhai Keshavbhai Patel |
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Designation : |
Director |
|
Address : |
57, Narayanmuni Nagar, |
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Date of Birth/Age : |
11.07.1950 |
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Date of Appointment : |
31.08.2007 |
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DIN No : |
01540000 |
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|
|
|
Name : |
Mr. Dayalbhai Keshavbhai Patel |
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Designation : |
Director |
|
Address : |
56, Narayanmuni Nagar, |
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Date of Birth/Age : |
11.03.1954 |
|
Date of Appointment : |
31.08.2007 |
|
DIN No : |
01540092 |
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|
|
|
Name : |
Mr. Prakashbhai Tulsibhai Goti |
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Designation : |
Director |
|
Address : |
12/A, Ramesh Niwas, 51-C, |
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Date of Birth/Age : |
28.09.1973 |
|
Date of Appointment : |
31.08.2007 |
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DIN No : |
01540039 |
|
Voter ID No.: |
JRW0920025 |
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|
|
|
Name : |
Mr. Sanjaykumar Jerambhai Virani |
|
Designation : |
Director |
|
Address : |
E-1, Rock View Apartment, |
|
Date of Birth/Age : |
20.02.1976 |
|
Date of Appointment : |
31.08.2007 |
|
DIN No : |
01660345 |
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Voter ID No.: |
JRW1202308 |
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|
|
|
Name : |
Mr. Hiteshkumar Laljibhai Patel |
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Designation : |
Director |
|
Address : |
52, Narayanmuni Nagar, |
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Date of Birth/Age : |
31.05.1979 |
|
Date of Appointment : |
31.08.2007 |
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DIN No : |
01660527 |
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Voter ID No.: |
DCF1417450 |
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|
|
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Name : |
Mr. Piyushkumar Laljibhai Patel |
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Designation : |
Director |
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Address : |
51-52, Narayanmuni Nagar, |
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Date of Birth/Age : |
04.05.1982 |
|
Date of Appointment : |
31.08.2007 |
|
DIN No : |
00858190 |
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|
|
|
Name : |
Mr. Shailesh Dayalbhai Goti |
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Designation : |
Director |
|
Address : |
56, Narayanmuni Nagar, |
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Date of Birth/Age : |
09.10.1984 |
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Date of Appointment : |
31.08.2007 |
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DIN No : |
00858206 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Maniyar |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.07.2010
|
Names of Equity Shareholders |
No. of Shares |
|
Laljibhai Tulshibhai Patel |
1000000 |
|
Tulsibhai Keshavbhai Patel |
500000 |
|
Dayalbhai Keshavbhai Patel |
500000 |
|
Prakashbhai Tulsibhai Goti |
500000 |
|
Sanjaykumar Jerambhai Virani |
500000 |
|
Hiteshkumar Laljibhai Patel |
833500 |
|
Piyushkumar Laljibhai Patel |
778000 |
|
Shailesh Dayalbhai Goti |
388500 |
|
Total |
5000000 |
As on 26.07.2010
|
Names of Preference Shareholders |
No. of Shares |
|
Dharmanandan Industries Limited, |
1000000 |
|
Total |
1000000 |
As on 21.03.2011
List of Allotees
|
Names of Equity Shareholders |
No. of Shares |
|
Nirmalaben Laljibhai Patel |
400000 |
|
Rashmitaben Hiteshbhai Patel |
561500 |
|
Dharaben Laljibhai Patel |
617000 |
|
Manjulaben Dayalbhai Patel |
60000 |
|
Komalben Shaileshbhai Patel |
361500 |
|
Total |
2000000 |
As on 15.09.2011
List of Allottees
|
Names of Equity Shareholders |
No. of Shares |
|
Laljibhai Tulshibhai Patel |
60000 |
|
Hiteshkumar Laljibhai Patel |
63000 |
|
Piyushkumar Laljibhai Patel |
63000 |
|
Tulsibhai Keshavbhai Patel |
9000 |
|
Prakashbhai Tulsibhai Goti |
24000 |
|
Dayalbhai Keshavbhai Patel |
24000 |
|
Shaileshbhai Dayalbhai Patel |
42000 |
|
Sanjaykumar Jerambhai Virani |
15000 |
|
Total |
300000 |
As on 15.12.2011
List of Allottee
|
Names of Equity Shareholders |
No. of Shares |
|
Laljibhai Tulshibhai Patel |
110000 |
|
Hiteshkumar Laljibhai Patel |
115500 |
|
Piyushkumar Laljibhai Patel |
115500 |
|
Tulsibhai Keshavbhai Patel |
16500 |
|
Prakashbhai Tulsibhai Goti |
44000 |
|
Dayalbhai Keshavbhai Patel |
44000 |
|
Shaileshbhai Dayalbhai Patel |
77000 |
|
Sanjaykumar Jerambhai Virani |
27500 |
|
Total |
550000 |
As on 26.07.2010
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Diamonds, Gold and Silver Jewelery, Platinum Jewelery. |
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Products : |
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Exports : |
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Products : |
Diamond studded Gold Jewllery |
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Countries : |
·
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·
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Imports : |
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Products : |
Ruff Diamonds |
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Countries : |
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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 : |
Arjav Diamond |
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Customers : |
Retailers and End Users Leo Factor Diamond |
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No. of Employees : |
6700 (Approximately) |
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Bankers : |
·
State Bank of India, Diamond Branch, 1st
Floor, Majestic Shopping Centre, Girgaon, Opera House, Mumbai-400004,
Maharashtra, India ·
Dena Bank, Overseas Branch, 17B, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Rajiv N Shah and Associates Chartered Accountants |
|
Address : |
A-001, Shreenath Darshan, Off |
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PAN No.: |
AAFPS01156E |
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Wholly Owned Subsidiaries : |
·
DDL Investment Limited |
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Step in Subsidiary : |
·
Dharam Creation HK Limited |
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Other Related Party : |
·
Divine Equity Research Private Limited ·
Gunjan Exports ·
Dharm Exim ·
Karpasa Exports Private Limited ·
Dharmanandan Industries Limited ·
DDL Investment Limited |
CAPITAL STRUCTURE
After 26.07.2011
Authorised Capital : Rs.100.000
Millions
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs. 90.000 Millions |
|
1000000 |
Preference Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
|
|
Total |
|
Rs.100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7850000 |
Equity Shares |
Rs.10/- each |
Rs.78.500
Millions |
|
1000000 |
Preference Shares |
Rs. 10/- each |
Rs.10.000 Millions |
|
|
Total |
|
Rs.88.500
Millions |
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs. 90.000 Millions |
|
1000000 |
Preference Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
|
|
Total |
|
Rs.100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000
Millions |
|
1000000 |
Preference Shares |
Rs. 10/- each |
Rs.10.000 Millions |
|
|
Total |
|
Rs.80.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
80.000 |
60.000 |
60.000 |
|
|
2] Share Application Money |
600.000 |
530.000 |
0.000 |
|
|
3] Reserves & Surplus |
2298.652 |
1330.212 |
971.842 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2978.652 |
1920.212 |
1031.842 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4507.705 |
3099.693 |
2927.736 |
|
|
2] Unsecured Loans |
1310.287 |
833.398 |
1162.211 |
|
|
TOTAL BORROWING |
5817.992 |
3933.091 |
4089.947 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
111.374 |
101.203 |
|
|
|
|
|
|
|
|
TOTAL |
8796.644 |
5964.677 |
5222.992 |
|
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|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1477.056 |
1413.692 |
1297.380 |
|
|
Capital work-in-progress |
205.750 |
66.268 |
42.500 |
|
|
|
|
|
|
|
|
INVESTMENT |
477.754 |
24.668 |
0.720 |
|
|
DEFERREX TAX ASSETS |
24.884 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4034.602
|
1985.708
|
1174.274 |
|
|
Sundry Debtors |
4999.545
|
4421.286
|
3592.085 |
|
|
Cash & Bank Balances |
138.602
|
137.707
|
74.984 |
|
|
Other Current Assets |
16.821
|
9.296
|
0.000 |
|
|
Loans & Advances |
241.244
|
113.721
|
70.471 |
|
Total
Current Assets |
9430.814
|
6667.718
|
4911.814 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2659.080 |
2148.954 |
999.131 |
|
|
Other Current Liabilities |
9.115
|
10.115
|
10.175 |
|
|
Provisions |
151.905
|
49.167
|
20.764 |
|
Total
Current Liabilities |
2820.100
|
2208.236
|
1030.070 |
|
|
Net Current Assets |
6610.714
|
4459.482
|
3881.744 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.486 |
0.567 |
0.648 |
|
|
|
|
|
|
|
|
TOTAL |
8796.644 |
5964.677 |
5222.992 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
19359.400 |
12678.500 |
8700.260 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
18744.920 |
12094.500 |
8355.550 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
614.480 |
584.000 |
344.710 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
129.020 |
141.630 |
169.040 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
485.460 |
442.370 |
175.670 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
60.930 |
52.780 |
48.470 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
424.530 |
389.590 |
127.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
24.600 |
31.220 |
77.760 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
449.130 |
358.370 |
49.440 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
490.210 |
131.840 |
82.400 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
939.340 |
490.210 |
131.840 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
NA |
11330.050 |
8179.360 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Diamonds |
NA |
11245.430 |
6126.720 |
|
|
TOTAL IMPORTS |
NA |
11245.430 |
6126.720 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
56.14 |
59.73 |
-- |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover(Approximately) |
|
|
22000.000 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.25000.000 Millions
The above information has been parted by Mr. Amit Maniyar
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.32
|
2.83
|
0.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.89
|
4.82
|
2.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.20
|
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.90
|
3.20
|
1.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.34
|
3.02
|
4.77 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
Yes |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
No |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
Yes |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
Yes |
|
Major
Customers |
Yes |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
Yes |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
|
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency
Rating, if available |
Yes |
Sundry Creditors
Details:
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
Sundry
creditors |
|
|
|
|
Creditors due small micro enterprises |
0.000 |
0.000 |
|
|
Creditors due others |
2659.080 |
2148.954 |
|
|
Total |
2659.080 |
2148.954 |
999.131 |
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.
-
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.
-
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.
-
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.
-
The diamond jewellery industry in
-
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
-
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.
Note:
Registered Office of the company has been shifted from “G-14, Prasad
Chambers, Opera House, Mumbai – 400 004,
TURNOVER AND
PROFITS
During the
financial year ended March 31, 2011 the Sales and Other income of the company increased
from Rs. 12678.500 Millions to Rs. 19359.400 Millions achieving a growth by
52.69%. The Net Profit after tax stood at Rs. 449.130 Millions as against Rs.
358.370 Millions in the previous year indicating an increase by 25.33%.
DIAMOND AND
JEWELLERY
The Company is
making conscientious efforts in addressing the large market opportunities end
users with a view to obtaining optimum value addition to its products and with
the motto of providing most reasonable and guaranteed products to its customers
to their umpteen satisfaction to the customers world-wide that exist in the
diamond as well as jewelry Segment both in India and abroad.
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U36912MH2007PTC173674 |
|
Name of the company |
DHARMANANDAN DIAMONDS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
Bharat Diamond Bourse, FC-7011/12, F Tower, BKC, Bandra (East), Mumbai
– 400051, E-mail : dharmanandan14@yahoo.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10091658 |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
State Bank of India, Diamond Branch, 1st Floor, Majestic
Shopping Centre, Girgaon, Opera House, Mumbai-400004, Maharashtra, India E-mail : kamalax_saraf@hotmail.com
|
|
Nature of instrument creating charge |
No Instruments, Deed of Mortgage. |
|
Date of instrument Creating the charge |
21.10.2011 |
|
Amount secured by the charge |
Rs.6500.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of interest As mentioned in the respective consortium banks sanction letters. Terms of
repayment As mentioned in the respective consortium banks sanction letters. Margin As mentioned in the respective consortium banks sanction letters. Extent and
operation of the charge As mentioned in the respective consortium banks sanction letters. |
|
Short particulars of the property charged (Including location of the
property) |
All and singular the borrowers stocks of raw materials, semi finished
and finished goods, stores and spares not relating to the plant and machinery
(consumable stores and spares) bills receivables, book debts and all other
movables of the borrower but including documents of title to goods and other
assets, such as outstanding moneys, receivables including receivables by way
of cash assistance and/or cash including under the cash incentive scheme or
any other scheme claims, scheme or any other scheme, bills, invoices,
documents, contracts, engagements, investments and rights both present and
future whether now lying loose or in cases or which are now lying or stored
in or about or shall hereinafter from time to time during the continuance of
the security of these presents be brought into or upon or be stored or be in
or about of the borrowers factories, premises and godowns situated at Mumbai
and Surat in the state of Maharashtra and Gujarat or wherever else the same
may be or be held by any party to the order or disposition of the borrower or
in the course of transit or on high seas or on order or delivery, howsoever
and wheresoever’s in the possession of the borrower and either by way of
substitution. |
|
Date of instrument modifying the charge |
21.10.2011 |
|
Particulars of the present modification |
Memorandum of entry was executed by State Bank of India (SBI), SBI acting for itself and as an agent of
the Royal Bank of Scotland, Union Bank of India, Dena Bank, IDBI Bank
Limited., Antwerp Diamond Bank N.V., Central Bank of India, State Bank of
Patiala, Bank of Baroda, Bank of India and Yes Bank limited By way of an
equitable mortgage by way of first charge by deposit of title deeds over the
immovable Property to secure its extended limits of Rs.6500.000 Millions |
FIXED ASSETS
-
Plant and Machinery
-
Computer Systems
-
Furniture and Fixtures
-
Vehicles
-
Office Premises
-
Land
-
AS PER WEB SITE DETAILS:
Profile:
subject comes with a vision to disseminate the Indian craftsmanship across the
globe with an aim of luxury experience of life. It is their pride to state that
they have been doing business in this field for last 25 years and have
witnessed great success since they started operating.
subject has a wide range of products their main product is round diamonds and
deals in customized requirements of fancy shapes like Princess, Marques, Pears,
Baguettes etc with various sizes, colors and clarities.
In order to optimize their product offerings and give better value to their
customers, they are physically present at major diamond and jewellery hubs of
the world such as
Prompt Delivery is a part of their design. They understand the value of timely
shipment to their customers, which ensures them to meet their plans in line
with consumer demand
NEWS
Dharmanandan Diamonds is always passionate to motivate education in each possible manner. The company organized the Encouraging Education Program to motivate the children of our employees appearing in Gujarat Board examination of school and junior college level.
A well known Child Motivator and Psychiatrist Dr. Raish Maniar gave his
presence to help children get off the stress of the exam. In his speech he
added "Exams are a part of education and one can not gain education under
pressure and depression. So my kids let the pressure wither away and your
beautiful brains feel free."
Hitesh Patel, MD - Dharmanandan Group concluded the program with his
small and very useful advice of understanding the inventions, theoriums,
concepts and the base behind the building rather than aiming at the final
result.
Taking its corporate
social responsibility seriously, DTC Sightholder Dharmanandan Diamonds last
week organized an event where psychiatrist Dr. Raish Maniar conducted an open
seminar to help employees’ children cope with the stress of school and junior
college final examinations.
Dr. Maniar holds
that while examinations are a necessary part of the education system, learning
and the expansion of knowledge cannot take place under stress and pressure. He
outlined several methods by which children could cope with and even eliminate
the stress brought on by final examinations.
Dharmanandan Group
Managing Director Hitesh Patel told the children that acquiring knowledge was
by far more important than just coming up with great examination results.
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. 55.99 |
|
|
1 |
Rs.87.55 |
|
Euro |
1 |
Rs.68.69 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.