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Report Date : |
16.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
ARTS AND CRAFTS VALLEY |
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Registered
Office : |
Behind Trasport Nagar, Lakari Mini Bypss Raod, Moradabad – 244001,
Uttar Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Year of
Establishment : |
1983 |
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Capital
Investment / Paid-up Capital : |
Rs.10.000 Millions |
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TIN No.: |
09358907031 |
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PAN No.: [Permanent Account No.] |
AAGFA4438G |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
: |
Manufacturer, Exporter and Trader of Sterling Silverware, Aluminum
Ware and Glass Ware. |
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No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (47) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 40000 |
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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 an established partnership concern having satisfactory
track. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitment. The concern can be considered
for normal business dealing on a 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.
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 |
|
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
|
Name : |
Mr. Sanjay Sharma |
|
Designation : |
Manager Exports |
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Contact No.: |
91-9359741516 |
|
Date : |
16.07.2012 |
LOCATIONS
|
Registered Office / Factory : |
Behind Trasport Nagar, Lakari Mini Bypss Raod, Moradabad – 244001,
Uttar Pradesh, India |
|
Tel. No.: |
91-591-3202255 |
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Mobile No.: |
91-9359741516 (Mr. Sanjay Sharma) |
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Fax No.: |
91-591-3202255 |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Location : |
12,000 sq ft |
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|
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Branch Office: |
272, Garahiya Street, Matia Mehal, Jama Masjid, Delhi – 110006, India |
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Tel. No.: |
91-11-23266554 |
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Fax No.: |
91-9810129564 (Mr. Adil Mohammad) |
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E-Mail : |
PARTNERS
|
Name : |
Mr. Mohd. Muslim |
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Designation : |
Partner |
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Address : |
Moradabad – 244001, Uttar Pradesh, India |
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Name : |
Mr. Adil Mohammad |
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Designation : |
Partner |
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Address : |
Moradabad – 244001, Uttar Pradesh, India |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Sharma |
|
Designation : |
Manager Exports |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Trader of Sterling Silverware, Aluminum Ware
and Glass Ware. |
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Products : |
Sterling Silverware: Décor Items, Kehva Sets, Table Tops, Center
Pieces, Sugar and Creamers, Tea and Coffee Sets, Baby cups Rattles and more
in 925 stamped sterling silverware, Aluminum Ware Seasonal Décor/Gift Items
and Bath Accessories, Glass Ware:
Kitchen Utility Items and Seasonal Décor / Gift Items. |
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Terms : |
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Selling : |
L/C, Cash and Credit (30 Days) |
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Purchasing : |
Cash and Credit (30 Days) |
GENERAL INFORMATION
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Customers : |
Wholesalers and Retailers |
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No. of Employees : |
80 (Approximately) |
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Bankers : |
Bank of Baroda, Noida, Uttar Pradesh, India |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
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Sister Concern : |
Imperial Décor
UK Address: Moradabad – 244001, Uttar Pradesh, India Line of Business: Manufacturer, Exporter and Trader of Sterling
Silverware, Aluminum Ware and Glass Ware. |
CAPITAL STRUCTURE
As on 31.03.2012
|
Capital Investment : |
|
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Owned : |
Rs.10.000 Millions (Estimated) |
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Borrowed : |
|
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Total : |
Rs.10.000 Millions (Estimated) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
|
90.000 |
80.000 |
The above information has been parted by Mr. Sanjay Sharma - Manager
Exports
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or Registry
Records.
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
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 |
Yes |
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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 |
No |
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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 |
Yes |
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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 |
Yes |
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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 |
-- |
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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 |
Yes |
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28) Incorporation details, if applicable |
No |
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29) Last accounts filed at ROC |
No |
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30) Major Shareholders, if available |
No |
TRADE REFERENCE
·
Williams Sonoma Inc. (US)
·
The Body Shop, (USA)
·
Atticus Home (USA)
·
L objet, (USA)
·
Ross Simons (US)
·
Neiman Marcus (US)
·
Dillards Inc (US)
·
Gearys of Beverly Hills
(US)
·
Land End
·
Intl Silver Company
·
F. Edzard and Company Gmbh
(Germany)
·
Pottery Barn (US)
·
Waterford Crystal
(Ireland)
·
Harrods Limited (UK)
·
Tatard Freres (France)
·
VonCramm Warenhandels K.G
(Germany)
·
Le Cuyer (France)
AS PER WEBSITE DETAILS
INTRODUCTIONS
Subject is one of the internationally reputed manufacturers, suppliers and exporters of 925 stamped Sterling Silverware from India. Their company nurtures expertise in manufacturing and exporting a broad assortment of sterling silverware, aluminum ware and glass ware. They also offer electro plated nickel silverware and decore items in stainless steel, brass and copper. Their speciality includes rare patterns and one-of-a-kind artifacts that are treasured. The company was founded in 1937 by Late Mr. Laddan Khan, who was widely known for his strong grasp over the art of making beautiful and aesthetic silver articles. Being a highly skilled silversmith his son Mohd. Alam inherited the art of making silverware from him. Mohd. Alam has been bestowed with the Honor of Master Craftsman and received National Award (1988-89) from His Excellency Mr. R.Venkataraman, President of India and earlier he also received State Award for his Craftsmanship (1986-87). Initiated with a modest family business, they have outgrown as one of the trusted and preferred entrepreneur offering superior quality sterling silverware. Creating modern and functional pieces, they have been recognized for their quality, competent pricing and timely delivery. Their strength is the repeat orders received from customers. They have been also known for ethical business practices and this has not only satisfied their clients but also has leveraged their performance. Their works and creativity have been well recognized by several notable orders and rewards. Owing to their expertise in manufacturing Sterling Silverware, they have manufactured the Reliance World Cup (Cricket) in 1987 and Jawaharlal Nehru Cup (Cricket) in 1989. In their efforts to meet the market requirements, they have always been on the forefront of product innovation and creativity. This helps to understand the need of the customer and offer in accordance.
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.55.65 |
|
|
1 |
Rs.85.88 |
|
Euro |
1 |
Rs.67.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
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--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.