MIRA INFORM REPORT
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Report Date : |
07.06.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
DIAM. ORO DI ASHISH JAIN |
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Registered Office : |
Via Del Castagnone, 7, 15048 - Valenza
(AL) |
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Country : |
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Date of Incorporation : |
13.07.2006 |
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Com. Reg. No.: |
AL-2006-22303 since 01/08/2006 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale of clocks, watches
and jewellery |
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No. of Employees
: |
05 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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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 : |
No Complaints |
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Litigation : |
Clear |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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|
a2 |
a2 |
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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 |
Diam. Oro di Ashish Jain
Via Del Castagnone, 7
15048 - Valenza (AL) -IT-
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Fiscal Code |
: |
JNASSH79L20Z222M |
|
Legal Form |
: |
Sole proprietorship |
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start of Activities |
: |
13/07/2006 |
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Turnover Range |
: |
750.000/1.000.000 Eur |
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Number of Employees |
: |
from 1 to 5 |
Wholesale of clocks, watches and
jewellery
Retail sale of watches and
jewellery in specialised stores
Legal Form : Sole proprietorship
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Fiscal Code : JNASSH79L20Z222M |
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Chamber of Commerce no. : 229405 of
Alessandria since 31/07/2006 |
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Firms' Register : AL-2006-22303 since
01/08/2006 |
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V.A.T. Code : 02133840062 |
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Start of Activities |
: 13/07/2006 |
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Jain |
Ashish |
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Born in Shivpuri |
on 20/07/1979 |
- Fiscal Code : JNASSH79L20Z222M |
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Residence : |
Viale |
Santuario |
, 23 |
- 15048 |
Valenza |
(AL) |
- IT - |
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Position |
Since |
Shares Amount |
% Ownership |
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Proprietor |
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No Protests
registered |
*checkings have been performed
on a national scale.
In this module the companies in
which members hold/held positions are listed.
The Members of the subject firm
are not reported to be Members in other companies.
The Company under review has no
participations in other Companies.
In order to carry out its
activities the firm uses the following locations:
|
- |
Legal and
operative seat |
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Via |
Del Castagnone |
, 7 |
- 15048 |
- Valenza |
(AL) |
- IT - |
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Trading Style: DIAM.ORO |
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PHONE |
: 0131/950201 |
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PHONE |
: 0131/927942 |
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Employees |
: 1 |
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Assistants |
: 1 |
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Fittings and Equipment for a value of
8.000 |
Eur |
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Stocks for a value of 65.000 |
Eur |
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None reported, standing to the
latest received edition of the Official Publications.
The subject has been operating
for many years. At present it does
not show financial difficulties.
Liquid means are adequate to
meet company requirements.
Current financial attitude is
normal and allows regular settlements.
Debts stand on normal position.
Modest use of supplier and bank
credit.
The business conduct does not
lay itself open to usual suppliers'
criticism.
Financial Data
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Complete balance-sheet for the year |
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(in Eur |
x 1 ) |
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Item Type |
Value |
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Sales |
850.000 |
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Population living in the province |
: |
429.080 |
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Population living in the region |
: |
4.330.172 |
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Number of families in the region |
: |
1.889.207 |
Monthly family expenses average
in the region (in Eur.) :
|
- per food products |
: |
429 |
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- per non food products |
: |
1.789 |
|
- per energy consume |
: |
135 |
The values are calculated on a
base of 9.175 significant companies.
The companies cash their credits
on an average of 121 dd.
The average duration of
suppliers debts is about 142 dd.
The sector's profitability is on
an average of 2,24%.
The labour cost affects the
turnover in the measure of 8,02%.
Goods are held in stock in a
range of 65 dd.
The difference between the sales
volume and the resources used to realize it is about 1,37.
The employees costs represent
the 8,14% of the production costs.
The area is statistically
considered moderately risky.
In the region 27.019 protested
subjects are found; in the province they count to 2.105.
The insolvency index for the
region is 0,63, , while for the province it is 0,50.
Total Bankrupt companies in the
province : 1.755.
Total Bankrupt companies in the
region : 14.165.
DIAMOND INDUSTRY –
INDIA
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From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
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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 India today may be more than Rs 60000
mil and is rated amongst the fastest growing in the world. Indi ranks
third in the world in domestic diamond consumption.
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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.
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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 2000 crore lent to a dozen diamond firms in Surat. Until about two
months ago, they had not repaid these dues. Bankers believe many
diamantaires borrowed money during the economic downturn two years ago and
diverted funds to businesses like real estate and capital markets. Many of
themselves made money from these businesses but their diamond companies have
gone sick and declared insolvency.
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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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.50 |
|
UK Pound |
1 |
Rs.85.58 |
|
Euro |
1 |
Rs.69.30 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.