MIRA
INFORM REPORT
|
Report Date : |
06.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
JOYAL ORNAMENTS AND TRADES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Door No. 40/2096, A and B, Peevees Triton, Marine Drive, Shanmugham
Road, Ernakulam-682031, Kerala |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
28.04.2010 |
|
|
|
|
Com. Reg. No.: |
09-025916 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.600 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51398KL2010PTC025916 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHNJ01011D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCJ3380R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Exporter of Jewellery
|
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
New Company |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively new company and yet to established itself
gradually. Business is active. Payments are unknown. The company can be considered for business dealings on a safe and
secured 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Door No. 40/2096, A and B, Peevees Triton, Marine Drive, Shanmugham
Road, Ernakulam-682031, Kerala, India |
|
Tel. No.: |
91-484-2385035 |
|
Fax No.: |
91-484-2385032 |
|
E-Mail : |
DIRECTORS
AS ON 10.06.2011
|
Name : |
Mr. Alukkas Varghese Joy |
|
Designation : |
Director |
|
Address : |
Alukkas House, Kuriachira P.O., Thrissur-680006, Kerala, India |
|
Date of Birth/Age : |
04.09.1956 |
|
Date of Appointment : |
28.04.2010 |
|
DIN No.: |
00313967 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U85110KL1995PLC009336 |
KIMS
HEALTH CARE MANAGEMENT LIMITED |
Director |
25-09-01 |
25-09-01 |
Active |
NO |
|
2 |
U51398KL2002PLC015372 |
JOYALUKKAS
INDIA LIMITED |
Managing
director |
15-11-10 |
22-04-02 |
Active |
NO |
|
3 |
U92141KL1979PTC003117 |
MYTHRI
ENTERTAINERS AND ENTERPRISES PRIVATE LIMITED |
Director |
06-11-10 |
05-03-04 |
Active |
NO |
|
4 |
U55101KL1994PTC007964 |
JOYAL
PROPERTIES PRIVATE LIMITED |
Director |
06-11-10 |
05-03-04 |
Active |
NO |
|
5 |
U72200KL2005PTC018908 |
FUSION
TECHNOSOFT PRIVATE LIMITED |
Director |
06-11-10 |
08-12-05 |
Active |
NO |
|
6 |
U70102KL2006PTC019054 |
COCHIN
SMART CITY PROPERTIES PRIVATE LIMITED |
Director |
11-07-07 |
03-04-06 |
Active |
NO |
|
7 |
U62200KL2009PLC024350 |
JYOTHI
AVIATION AND DEVELOPERS LIMITED |
Managing
director |
24-07-10 |
19-06-09 |
Active |
NO |
|
8 |
U51900KL2009PTC024449 |
MUDITA
TRADES PRIVATE LIMITED |
Director |
11-07-09 |
11-07-09 |
Active |
NO |
|
9 |
U51398KL2010PTC025916 |
JOYAL
ORNAMENTS AND TRADES PRIVATE LIMITED |
Director |
28-04-10 |
28-04-10 |
Active |
NO |
|
10 |
U55101MH2009PTC196943 |
DALIA
HOTELS AND RESORTS PRIVATE LIMITED |
Director |
30-09-11 |
04-10-10 |
Active |
NO |
|
11 |
U74900KL2011PTC028860 |
JOYALUKKAS
MONEY EXCHANGE PRIVATE LIMITED |
Director |
12-07-11 |
12-07-11 |
Active |
NO |
|
12 |
U51494KL2010PTC026358 |
REDROSE
DESIGNER WEAR PRIVATE LIMITED |
Director |
01-10-11 |
01-10-11 |
Active |
NO |
|
13 |
U70102KL2011PTC029893 |
SVENI
DEVELOPERS PRIVATE LIMITED |
Director |
22-11-11 |
22-11-11 |
Active |
NO |
|
14 |
U74900KL2011PTC029897 |
JOLLY
SILKS PRIVATE LIMITED |
Director |
22-11-11 |
22-11-11 |
Active |
NO |
|
15 |
U51398KL2012PTC030361 |
JOYALUKKAS
JEWELLERY PRIVATE LIMITED |
Director |
25-01-12 |
25-01-12 |
Active |
NO |
|
Name : |
Mr. Joseph Christo |
|
Designation : |
Director |
|
Address : |
Cherukaran House, Sauhardha Nagar, Nellikunnukara (East), Fort P.O.,
Thrissur-680005, Kerala, India |
|
Date of Birth/Age : |
06.08.1982 |
|
Date of Appointment : |
28.04.2010 |
|
DIN No.: |
02710534 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U51900KL2009PTC024449 |
MUDITA
TRADES PRIVATE LIMITED |
Director |
28-09-10 |
25-07-09 |
- |
Active |
NO |
|
2 |
U55101MH2009PTC196943 |
DALIA
HOTELS AND RESORTS PRIVATE LIMITED |
Director |
09-11-09 |
09-11-09 |
- |
Active |
NO |
|
3 |
U51398KL2002PLC015372 |
JOYALUKKAS
INDIA LIMITED |
Whole-time
director |
19-11-09 |
19-11-09 |
15-10-10 |
Active |
NO |
|
4 |
U51398KL2010PTC025916 |
JOYAL
ORNAMENTS AND TRADES PRIVATE LIMITED |
Director |
28-04-10 |
28-04-10 |
- |
Active |
NO |
|
5 |
U70102KL2011PTC029893 |
SVENI
DEVELOPERS PRIVATE LIMITED |
Director |
22-11-11 |
22-11-11 |
- |
Active |
NO |
|
6 |
U51494KL2010PTC026358 |
REDROSE
DESIGNER WEAR PRIVATE LIMITED |
Additional
director |
02-12-11 |
02-12-11 |
- |
Active |
NO |
|
7 |
U74900KL2011PTC029897 |
JOLLY
SILKS PRIVATE LIMITED |
Additional
director |
07-01-12 |
07-01-12 |
- |
Active |
NO |
|
Name : |
Mr. George Kattookaran Jacob |
|
Designation : |
Director |
|
Address : |
Kattookaran House, Plot No.211, 3/477, Nehrunagar, Kuriachira PO
Thrissur-680006, Kerala, India |
|
Date of Birth/Age : |
30.06.1966 |
|
Date of Appointment : |
13.04.2011 |
|
DIN No.: |
02397314 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U65992KL1980PTC003224 |
WELFARE
KURIES AND LOANS PRIVATE LIMITED |
Director |
22/11/1999 |
22/11/1999 |
Active |
NO |
|
2 |
U51398KL2010PTC025916 |
JOYAL
ORNAMENTS AND TRADES PRIVATE LIMITED |
Director |
10/6/2011 |
13/04/2011 |
Active |
NO |
|
3 |
U74900KL2011PTC028860 |
JOYALUKKAS
MONEY EXCHANGE PRIVATE LIMITED |
Additional
director |
20/10/2011 |
20/10/2011 |
Active |
NO |
|
4 |
U74900KL2011PTC029897 |
JOLLY
SILKS PRIVATE LIMITED |
Additional
director |
7/1/2012 |
7/1/2012 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 10.06.2011
|
Names of Shareholders |
No. of Shares |
|
Joyalukkas India Limited, India |
59999 |
|
Dany K James |
1 |
|
Total |
60000 |
AS ON 10.06.2011
|
Equity Shares Break
Up |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Exporter of Jewellery
|
|
|
|
|
Export |
|
|
Countries : |
Middle East Countries |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
·
CITI Bank N A, Ravi’s Arcade, 38/1581, M G Road,
Padma JN, Cochin-682035, Kerala, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
C. I. Francis Chartered Accountant |
|
Address : |
XIII/35, Casino Complex, T. B. Road, Kokkalai, Thrissur-680021,
Kerala, India |
|
Tel. No.: |
91-487-2421060 |
|
Pan No.: |
AADPF4577E |
|
|
|
|
Holding Company : |
Joyalukkas India Limited, India CIN No.: U51398KL2002PLC015372 |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000 |
Equity Shares |
Rs.10/- each |
Rs. 0.600
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.600 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(0.154) |
|
|
NETWORTH |
|
|
0.446 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.446 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.184 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
0.312 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.090 |
|
Total
Current Assets |
|
|
0.402 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.105 |
|
|
Other Current Liabilities |
|
|
0.035 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.140 |
|
|
Net Current Assets |
|
|
0.262 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.446 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
|
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
0.154 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
|
0.154 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
(0.154) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
(0.154) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
(2.57) |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2011 |
|
PAT / Total Income |
(%) |
|
|
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(26.28) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
(0.35) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
0.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
2.87 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW
The company has obtained the requisite licenses and approvals for
setting up a 100% Export Oriented Unit in the Cochin Special Economic Zone (CSEZ).
The Company has been allotted 95.03 Square metre built up space in the CSEZ.
The construction and fabrication of the manufacturing and exporting unit in the
said premises is under process.
The Company has not yet commenced it’s commercial operations and has
incurred a loss of Rs. 0.154 Million during the financial year.
FORM 8
|
Corporate
identity number of the company |
U51398KL2010PTC025916 |
|
Name of the
company |
JOYAL ORNAMENTS
AND TRADES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Door No. 40/2096, A and B, Peevees Triton, Marine Drive, Shanmugham Road, Ernakulam-682031, Kerala, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
CITI Bank N A, Ravi’s Arcade, 38/1581, M G Road, Padma JN,
Cochin-682035, Kerala, India |
|
Nature of
instrument creating charge |
Goods Security
Agreement Dated 07th Day of December, 2011. |
|
Date of
instrument Creating the charge |
07.12.2011 |
|
Amount secured by
the charge |
Rs. 240.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Rate of interest as
mutually agreed upon from time to time (Present
rate12.5% per annum plus applicable interest tax). Terms of repayment 180 days. Margin 20%. Extent and operation of the charge 1. First exclusive
charge on present and future stocks and book debts of the company. 2. First
exclusive charge on present and future fixed assets of the company. Other Facilities
availed : Rs. 240.000 Millions Facility 1 : WCDL / CC / export finance - Rs. 240.000
Millions Facility 1 a : CC
/ WCDL (inner limit of facility 1) - Rs.
48.000 Millions Facility 1 b :
Preshipment export finance - Rs. 144.000 Millions The company maybe
permitted to book forwards/other derivatives with the bank at the bank's sole
discretion for which the company will execute an isda as per the internal
norms of the bank. |
FIXED ASSETS
·
Electrical Fittings
·
Leasehold Improvements
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. 49.79 |
|
|
1 |
Rs. 78.79 |
|
Euro |
1 |
Rs. 65.74 |
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.