MIRA
INFORM REPORT
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Report Date : |
06.01.2012 |
IDENTIFICATION DETAILS
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Name : |
KETAN BROTHERS DIAMONDS EXPORTS |
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Registered
Office : |
622, Panchratna, Opera House, Mumbai – 400004, Maharashtra |
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Country : |
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Date of
Incorporation : |
Not Divulged |
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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 Partners. |
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Line of Business
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Manufacturer and Suppliers of Cut and Polished Diamonds |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
The Management denied to disclose for any information about the
subject. Therefore the report is based on indirect sources of information.
Payment terms are not known. Initially, subject can be considered for business dealings on a safe
and secured trade terms an conditions.
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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
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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 DECLINED BY
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Name : |
Mr. Rithesh |
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Designation : |
Finance Officer |
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Contact No.: |
91-22-43563000 |
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Date : |
05.01.2012 |
LOCATIONS
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Registered Office : |
622, Panchratna, Opera House, Mumbai – 400004, Maharashtra, India |
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Tel. No.: |
91-22-43563000 |
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Fax No.: |
91-22-43563030 |
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Email : |
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Website : |
PARTNERS
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Name : |
Mr. Ketan Parikh |
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Designation : |
Partner |
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Name : |
Mr. Jay Parikh |
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Designation : |
Partner |
KEY EXECUTIVES
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Name : |
Mr. Rithesh |
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Designation : |
Finance Officer |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Supplier of Cut and Polished Diamonds |
GENERAL INFORMATION
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No. of Employees : |
Not Divulged |
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Bankers : |
Not Divulged |
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Banking
Relations : |
-- |
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Auditors : |
Not Divulged |
CAPITAL STRUCTURE
NOT DIVULGED
FINANCIAL DATA
[all figures are
in Rupees Millions]
NOT DIVULGED
LOCAL AGENCY FURTHER INFORMATION
WEBSITE DETAILS:
PROFILE:
Subject is one of India’s manufacturers and suppliers of cut and polished diamonds. The legacy began in 1969 with Bagmalbhai Parikh, fondly called Babushah, who is known as the father of modern manufacturing in India. Now, the Company is spearheaded by Mr. Ketan Parikh and Mr. Jay Parikh, both of whom were formerly major promoters of the Mahendra Brothers Group.
Mr. Apurva Kothari, a leading sales executive with Mahendra Brothers, is also an integral part of the team.
The company is a versatile and forward looking one-stop-shop geared toward satisfying all types of diamond demands. It offers an entire range of certified and non-certified diamonds in rounds and fancies from 100 pct to 10.00cts.
Headquartered in the heart of the diamond district at Opera House Mumbai, the company is driven by a quest for excellence in manufacturing and high level of service, backed with contemporary software-driven management system.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.14 |
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|
1 |
Rs.83.08 |
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Euro |
1 |
Rs.69.25 |
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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- |
NB |
New Business |
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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.