|
Report Date : |
14.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
GOLD STAR JEWELLERY PRIVATE LIMITED (w.e.f. 20.03.2010) |
|
|
|
|
Formerly Known
As : |
GOLDSTAR JEWELLERY EXPORTS LIMITED |
|
|
|
|
Registered
Office : |
Block ’C’, Plot No. 16 P, 17, 28 and 29(P), Seepz, Andheri (East),
Mumbai – 400096, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
18.06.1990 |
|
|
|
|
Com. Reg. No.: |
11-056881 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.41.900 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U39611MH1990PLC056881 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG08117E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG3264B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Importer or Dealer
In or Undertake Process in Gold, Silver, Diamonds, Rough Diamonds, Precious
And Semi Precious Stones and to Export Jewellery Made out of Its. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established
company having satisfactory track. Trade relations
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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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/ Factory : |
Block ‘C’, Plot 16P, 17, 28 and 29 (P), Seepz, Andheri
(East), Mumbai-400096, |
|
Tel. No.: |
91-22-26947000 |
|
Fax No.: |
91-22-28290255/ 28291257 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Royal Star Arcade, Plot NO.- 8, Western Industrial Estate, Opposite SEEZE- SEZ, M.I.D.C. Andheri (East), Mumbai 400 093, Maharashtra, India |
|
Tel. No.: |
91-22-66947100 / 28251505 |
|
Fax No.: |
91-22-28303114 |
|
Email : |
DIRECTORS
As on 15.09.2011
|
Name : |
Mr. Alkesh Satish Shah |
|
Designation : |
Director |
|
Address : |
04, |
|
Date of
Birth/Age : |
06.02.1970 |
|
Date of
Appointment : |
29.09.2003 |
|
DIN No.: |
00004149 |
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 |
U51398MH1991PTC063336 |
ROYAL
STAR JEWELLERY PRIVATE LIMITED |
Director |
01-04-00 |
01-04-00 |
- |
Active |
NO |
|
2 |
U51398MH2001PTC132396 |
GOLD
STAR ORNAMENTS PRIVATE LIMITED |
Director |
19-06-01 |
19-06-01 |
- |
Active |
NO |
|
3 |
U39611MH1990PTC056881 |
GOLD
STAR JEWELLERY PRIVATE LIMITED |
Director |
29-09-03 |
29-09-03 |
- |
Active |
NO |
|
4 |
U36910MH2004PTC146325 |
GOLD
STAR JEWELLERY DESIGNS PRIVATE LIMITED |
Director |
09-09-10 |
14-05-04 |
- |
Active |
NO |
|
5 |
U36910MH2004PTC147775 |
DIRECTI
WEB SERVICES PRIVATE LIMITED |
Director |
29-07-04 |
29-07-04 |
16-12-09 |
Active |
NO |
|
6 |
U36911MH2005PTC153513 |
IVY
JEWELLERY PRIVATE LIMITED |
Director |
26-05-05 |
26-05-05 |
15-11-10 |
Active |
NO |
|
7 |
U36911MH2002PLC138275 |
DIAMOND
INDIA LIMITED |
Director |
09-09-06 |
09-09-06 |
27-09-08 |
Active |
NO |
|
8 |
U27205MH2006PTC165319 |
JOUEL
SCULPT PRIVATE LIMITED |
Director |
15-09-08 |
01-11-06 |
15-04-09 |
Active |
NO |
|
9 |
U27205MH2006PTC165391 |
DIA
VENTE JEWELLERY PRIVATE LIMITED |
Director |
15-09-08 |
07-11-06 |
- |
Active |
NO |
|
10 |
U72900MH2005PTC156594 |
MINDTECH
SOLUTIONS PRIVATE LIMITED |
Director |
29-09-07 |
31-03-07 |
01-05-10 |
Active |
NO |
|
11 |
U36912MH1989GAP053844 |
SEEPZ
GEMS AND JEWELLERY MANUFACTURERS ASSOCIATION |
Director |
23-11-07 |
23-11-07 |
24-09-10 |
Active |
NO |
|
12 |
U45300MH2008PTC177709 |
GOLD
STAR BUILDERS AND DEVELOPERS PRIVATE LIMITED |
Director |
10-01-08 |
10-01-08 |
- |
Active |
NO |
|
13 |
U27205MH2008PTC181759 |
GOLD
STAR CENTOQUATTRO JEWELLERY PRIVATE LIMITED |
Director |
30-04-08 |
30-04-08 |
06-07-09 |
Active |
NO |
|
14 |
U45208MH2008PTC184852 |
ETERNITY
HABITAT PRIVATE LIMITED |
Director |
21-07-08 |
21-07-08 |
- |
Active |
NO |
|
15 |
U65910MH1995PTC087739 |
GOLD
STAR CORPORATE SOLUTIONS PRIVATE LIMITED |
Director |
26-02-09 |
26-02-09 |
01-05-10 |
Active |
NO |
|
16 |
U51398MH2008PTC185197 |
B S
DESIGNS PRIVATE LIMITED |
Director |
03-07-09 |
03-07-09 |
- |
Strike
off |
NO |
|
17 |
U45400MH2008PTC186135 |
ETERNITY
REALTORS PRIVATE LIMITED |
Director |
01-05-10 |
01-05-10 |
- |
Active |
NO |
|
18 |
U45200MH2004PTC145604 |
ETERNITY
CONSTRUCTION PRIVATE LIMITED |
Director |
01-07-10 |
01-07-10 |
- |
Active |
NO |
|
19 |
U67120MH1995PTC092296 |
DRAVYA
FINANCE PRIVATE LIMITED |
Director |
07-07-10 |
07-07-10 |
- |
Active |
NO |
|
20 |
U36910MH2002PTC135049 |
DIAM
STAR JEWELLERY (INDIA) PRIVATE LIMITED |
Director |
30-07-10 |
30-07-10 |
- |
Active |
NO |
|
21 |
U36912GJ2010PTC062363 |
GOLD
STAR JEWELS PRIVATE LIMITED |
Director |
20-09-10 |
20-09-10 |
- |
Active |
NO |
|
Name : |
Mr. Ashish Vinodrai Shah |
|
Designation : |
Managing
Director |
|
Address : |
19/ Suvarna Nagar, |
|
Date of
Birth/Age : |
04.05.1970 |
|
Date of Appointment
: |
01.04.2009 |
|
DIN No.: |
00007729 |
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 |
U51398MH1991PTC063336 |
ROYAL
STAR JEWELLERY PRIVATE LIMITED |
Managing
director |
31-03-05 |
31-03-05 |
15-03-10 |
Active |
NO |
|
2 |
U39611MH1990PTC056881 |
GOLD
STAR JEWELLERY PRIVATE LIMITED |
Managing
director |
01-05-09 |
01-04-05 |
- |
Active |
NO |
|
3 |
U36910MH2004PTC146325 |
GOLD
STAR JEWELLERY DESIGNS PRIVATE LIMITED |
Whole-time
director |
30-09-05 |
30-09-05 |
- |
Active |
NO |
|
4 |
U65910MH1995PTC087739 |
GOLD
STAR CORPORATE SOLUTIONS PRIVATE LIMITED |
Director |
29-09-07 |
31-03-07 |
- |
Active |
NO |
|
5 |
U36910MH2002PTC135049 |
DIAM
STAR JEWELLERY (INDIA) PRIVATE LIMITED |
Director |
01-06-08 |
01-06-08 |
- |
Active |
NO |
|
6 |
U51398MH2008PTC185197 |
B S
DESIGNS PRIVATE LIMITED |
Director |
29-07-08 |
29-07-08 |
- |
Strike
off |
NO |
|
7 |
U27205MH2008PTC181759 |
GOLD
STAR CENTOQUATTRO JEWELLERY PRIVATE LIMITED |
Director |
06-07-09 |
06-07-09 |
- |
Active |
NO |
|
8 |
U72900MH2005PTC156594 |
MINDTECH
SOLUTIONS PRIVATE LIMITED |
Director |
01-05-10 |
01-05-10 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 15.09.2011
|
Names of Shareholders |
No. of Shares |
|
Satish R. Shah |
1951990 |
|
Alkesh S. Shah |
515000 |
|
Sanjay S. Shah |
420000 |
|
Hansaben S. Shah |
145000 |
|
Smita A. Shah |
47000 |
|
Shweta S. Shah |
33000 |
|
Sanjay S. Shah |
685000 |
|
Satish R. Shah |
393000 |
|
Sayam S. Shah |
10 |
|
Total |
4190000 |
As on 15.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of director |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer or Dealer In or Undertake Process in Gold, Silver, Diamonds, Rough Diamonds, Precious And Semi Precious Stones and to Export Jewellery Made out of Its. |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
500 (Approximately) |
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Bankers : |
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Facilities : |
Note: a) Bank
Borrowing is secured against equitable mortgage on Building, Fixed Deposits
and hypothecation of Plant and Machinery, Stocks, Debtors and Personal
Guarantee of promoters. b) Gold on Loan
from Bank is secured against Bank Guarantee.
|
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Banking
Relations : |
-- |
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Auditors : |
|
||||||||||||||||||||||||||||||
|
Name : |
B. J. Shah and Associates Chartered Accountants |
||||||||||||||||||||||||||||||
|
Address : |
7, Someshwar, |
||||||||||||||||||||||||||||||
|
PAN No.: |
AAHPS5959D |
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Associates: |
|
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|
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|
Subsidiaries: |
Gold Star Jewellery India Private Limited Royal Star Arcade, Plot NO.- 8, Western Industrial Estate, Opp. SEEZE- SEZ, M.I.D.C. Andheri (East), Mumbai 400 093, Maharashtra, India Tel: 91-22-66947100
/ 91-22-28251505 Fax:
91-22-28303114 Email: mumbai@goldstarjewellery.com Gold Star Jewellery (HK) Limited 1104/11 th, Tung Shun Hing
Commercisl Centre 20-22, Grandville Road, Timshasui, Kowloon, Hong Kong Tel: 852
23695660 Fax: 852 2367
3916 Email: goldstarhk@goldstarjewellery.com
Gold Star Jewellery Japan Company Limited 402, 4F Kase Bldg., 3-13-7,
Taito, Taito-Ku, Fax: 00 81
358073915 Email: japan@goldstarjewellery.com Gold Star Jewellery LLC Gold Star Jewellery LLC- Tel: 1 212 391 2021 Fax: 1 212 391 7444 Email: newyork@goldstarjewellery.com
Jewel World LLC Tel: 1 212 391 2021 Fax: 1 212 391 7444 Email: ankur@goldstarjewellery.com
Gold Star Independent LLC Tel: 1 212 354 0984 Fax: 1 212 354 0986 Email: amitpatel@goldstarjewellery.com
Gold Star Via vecchia ferriera 70, 36100 Tel: 00 39
0444189863 Fax: 00 39
0444563390 Email: italy@goldstarjewellery.com |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4190000 |
Equity Shares |
Rs.10/- each |
Rs.41.900 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 |
41.900 |
41.900 |
41.900 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
655.064 |
627.626 |
604.763 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
696.964 |
669.526 |
646.663 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
483.959 |
430.823 |
524.957 |
|
|
2] Unsecured Loans |
50.778 |
188.187 |
106.352 |
|
|
TOTAL BORROWING |
534.737 |
619.010 |
631.309 |
|
|
DEFERRED TAX LIABILITIES |
13.633 |
14.272 |
14.778 |
|
|
|
|
|
|
|
|
TOTAL |
1245.334 |
1302.808 |
1292.750 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
150.505 |
163.242 |
216.388 |
|
|
Capital work-in-progress |
38.806 |
38.066 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
9.373 |
8.373 |
8.643 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1067.093 |
854.529 |
673.182 |
|
|
Sundry Debtors |
660.097
|
888.265
|
884.515
|
|
|
Cash & Bank Balances |
62.783
|
37.383
|
50.703
|
|
|
Other Current Assets |
70.422
|
42.589
|
53.459
|
|
|
Loans & Advances |
28.929
|
30.771
|
69.472
|
|
Total
Current Assets |
1889.324
|
1853.537
|
1731.331
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
818.635
|
749.542
|
588.916
|
|
|
Current Liabilities |
11.694
|
1.323
|
39.627
|
|
|
Provisions |
12.345
|
9.545
|
35.069
|
|
Total
Current Liabilities |
842.674
|
760.410
|
663.612
|
|
|
Net Current Assets |
1046.650
|
1093.127
|
1067.719
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1245.334 |
1302.808 |
1292.750 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
TURNOVER |
3907.755 |
2789.917 |
2293.288 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
55.219 |
30.347 |
(105.383) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
22.060 |
25.413 |
27.255 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
33.159 |
4.934 |
(132.638) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
5.721 |
(17.929) |
(0.064) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
27.438 |
22.863 |
(132.574) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
505.224 |
482.361 |
614.935 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
532.662 |
505.224 |
482.361 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2220.973 |
1618.872 |
1219.773 |
|
|
TOTAL EARNINGS |
2220.973 |
1618.872 |
1219.773 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1018.115 |
836.370 |
549.684 |
|
|
|
Stores & Spares |
22.061 |
16.083 |
24.846 |
|
|
|
Capital Goods |
11.012 |
8.583 |
41.447 |
|
|
TOTAL IMPORTS |
1051.188 |
861.036 |
615.977 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.53 |
5.46 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.63
|
0.24
|
(6.81) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.01
|
(0.21) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.98
|
2.06
|
2.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.24
|
2.44
|
2.61 |
LOCAL AGENCY FURTHER INFORMATION
DIAMOND INDUSTRY –
INDIA
-
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.
-
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 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.
-
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 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.
-
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.
Performance :
The company’s turnover has increased from Rs.2789.917 Millions to Rs. 3907.755 Millions. The increase was mainly due to the rigorous marketing and the efforts of the management. The profit after tax is Rs.27.438 Millions as compared to a loss after tax of Rs.22.863 Millions in the previous year.
Outlook :
The director anticipates that the company shall increase its turnover
and profitability in the current financial year. The company is focusing on the
growth of the company and reducing the cost.
Contingent
liabilities not provided for
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U39611MH1990PTC056881 |
|
Name of the
company |
GOLD STAR JEWELLERY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Block 'C' Plot 16p 17 28and 29
(P) Seepz, Andheri East, Mumbai – 400096, |
|
This form is for |
Creation of charge |
|
Type of charge |
|
|
Particular of
charge holder |
Bank of India, Seepz Branch, MIDC-Seepz, Andheri-East, Mumbai –
400096, Maharashtra-, India |
|
Nature of
instrument creating charge |
Agreement of Hypothecation of Plant and Machinery Stocks and Book
Debts |
|
Date of
instrument Creating the charge |
14.11.2011 |
|
Amount secured by
the charge |
Rs.20.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Adhoc EPC/PCFC: As per extant guidelines with monthly rests or at such
other rate/s of interest as may be notified by the bank from time to time Terms of repayment On Demand. Margin 25% against Raw Materials, Finished goods, stores, goods in process,
25% against export receivables in Cash Credit, No lending against book debts
outstanding or as required by the bank from time to time. Extent and operation of the charge Security and charge hereby created shall be by way of 1st charge on
all the said hypothecated assets for due payment as provided in the deed of
all monies including the principal sums, interest/commission costs charges
and expenses and all other monies whatsoever due owing and payable by the
Borrower to the Bank under or in respect of or in connection with or in any
wise concerning or relating to the said facility agreed to be granted and/or
granted by the Bank to the borrower and also or due repayment of all present
and future indebtedness and liabilities of the borrower to the Bank of any
kind in any manner whether solely or jointly primary or collateral accrued or
accruing with all relative interest/commission, charges, costs and expenses. Facility and Limit : Adhoc EPC/PCFC Rs.20.000 Millions |
|
Short particular
of the property or asset(s) charged |
a) All tangible movable machineries and plant, both present and future
situate at Seepz, Andheri (East), Mumbai - 400096 or wherever else, b)All tangible movable properties and assets and stocks of whatsoever
nature of the Borrower both present and future wheresoever situate at Seepz,
Andheri (East),Mumbai - 400096 or wherever else, c) All present and future book debts, outstanding, money receivables,
claims, bills which are now due and owing or which may at any time hereafter
during the continuance of this security become due and owing to the Borrower.
|
FIXED ASSETS:
WEBSITE DETAILS
HISTORY AND PHILOSOPHY:
Mr. Satish R. Shah started with a humble beginning into the Diamond
Trade business and established Goldstar Diamonds in 1962. Goldstar Diamonds
Private Limited is a part of an exclusive, elite group of diamond companies in
the world - A Diamond Trading Company Sightholder.
Goldstar Diamonds offers consistency and reliability in
supply, effective marketing support and assurance in the authenticity and
integrity of the diamonds. They deal only in Natural diamonds in every shape,
size and color both as individual stones and in bulk.
Through their network of offices across the globe, they maintain close
relationships with their clients offering innovative tailor-made products. They
specialize in special cut diamonds besides the extensive goods and they are
known worldwide.
Jewelry has been one of mankind's most revered substances since the beginning
of time.
Gold Star’s story began over almost two decades ago as a part of R.T. Group of
companies. Since its inception they have grown from strength to strength and
today are one of the largest jewelry exporters in the industry.
Their operations have five state-of-the-art business units in the Special
Economic Zone and offices in various cities across the world, with a work force
of over 1500 people and a production capacity of over 1.25 million pieces a
year they are well poised to deliver quality products on time, every time. They
are a vertically integrated company providing end-to-end business solutions to
their clients. Gold Star has become a name to reckon within the recent past. In
fact they are the first Indian Jewellery Enterprise to achieve an ISO 9001
certification from DNV. Gold Star Jewellery works the BEM and BPP modules
ensuring conflict free diamonds and adherence to fair trade practices.
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.49.84 |
|
|
1 |
Rs.77.96 |
|
Euro |
1 |
Rs.65.61 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
|
45 |
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.