MIRA
INFORM REPORT
|
Report Date : |
03.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
KIRTILAL KALIDAS JEWELLERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
601, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
01.01.2008 |
|
|
|
|
Com. Reg. No.: |
18-014127 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36911TZ2008PTC014127 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Retail trade in gold and gold jewellery |
|
|
|
|
No. of Employees
: |
Not Available |
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 1600000 |
|
|
|
|
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) |
|
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 : |
601, Raja Street, Coimbatore-641001, Tamilnadu, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 10.08.2011
|
Name : |
Mr. Paresh Kirtilal Mehta |
|
Designation : |
Director |
|
Address : |
114, Tanhee Heights, Napeansea Road, Mumbai-400006, Maharashtra, India
|
|
Date of Birth/Age : |
13.06.1951 |
|
Date of Appointment : |
01.01.2008 |
|
DIN No.: |
00004179 |
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 |
U36900MH1979PTC021537 |
DIMEXON
EXPORTS PRIVATE LIMITED |
Director |
08-08-79 |
08-08-79 |
- |
Amalgamated |
NO |
|
2 |
U65990MH1989PTC052497 |
PANKAJ
K MEHTA INVESTMENT PRIVATE LIMITED |
Director |
14-11-96 |
07-07-89 |
- |
Active |
NO |
|
3 |
U65990MH1989PTC052496 |
PARESH
K MEHTA INVESTMENT PRIVATE LIMITED |
Director |
07-07-89 |
07-07-89 |
- |
Active |
NO |
|
4 |
U36911MH1990PTC056781 |
KIRTI
ORNAMENTS PRIVATE LIMITED |
Director |
01-02-91 |
01-02-91 |
- |
Amalgamated |
NO |
|
5 |
U27205TZ1992PTC003655 |
KIRTILAL
KALIDAS ORNAMENTS EXPORTS PRIVATE LIMITED |
Director |
21-02-92 |
21-02-92 |
- |
Amalgamated |
NO |
|
6 |
U36912MH1995PLC088786 |
DIMEXON
DIAMONDS LIMITED |
Director |
01-01-09 |
25-05-95 |
- |
Active |
NO |
|
7 |
U52190MH1995PTC085868 |
GOODBUY
TRADING PRIVATE LIMITED |
Director |
27-06-98 |
27-06-98 |
- |
Strike
off |
NO |
|
8 |
U05121TZ1993PTC004429 |
SURAJ
AGRO INFRASTRUCTURE (INDIA) PRIVATE LIMITED |
Director |
27-09-99 |
27-09-99 |
- |
Active |
NO |
|
9 |
U72200TZ2000PTC009248 |
VISPARK
SOLUTIONS INDIA PRIVATE LIMITED |
Director |
20-03-00 |
20-03-00 |
- |
Active |
NO |
|
10 |
U72300TN1994PTC026973 |
BENCHMARK
SOFTEC PRIVATE LIMITED |
Director |
26-04-04 |
26-04-04 |
- |
Active |
NO |
|
11 |
U36910MH2004PLC146406 |
BRIGHTEST
CIRCLE JEWELLERY LIMITED |
Director |
14-02-05 |
14-02-05 |
31-08-07 |
Active |
NO |
|
12 |
U27209MH2005PLC153033 |
BELCO
DIA PRODUCTS (INDIA) LIMITED |
Director |
04-05-05 |
04-05-05 |
- |
Under
Process of Striking off |
NO |
|
13 |
U91120MH2005PLC157427 |
PALANPUR
COMMUNITY FOUNDATION |
Director |
21-11-05 |
21-11-05 |
- |
Active |
NO |
|
14 |
U27205TZ1992PTC003877 |
VISPARK
JEWELLERY MANUFACTURERS PRIVATE LIMITED |
Director |
10-01-06 |
10-01-06 |
- |
Active |
NO |
|
15 |
U65990MH2006PTC159957 |
DIMEXON
INDIA HOLDING PRIVATE LIMITED |
Director |
23-02-06 |
23-02-06 |
11-04-11 |
Active |
NO |
|
16 |
U51398TZ2007PTC013402 |
KIRTILAL
KALIDAS DIAMOND EXPORTS PRIVATE LIMITED |
Director |
01-02-07 |
01-02-07 |
- |
Amalgamated |
NO |
|
17 |
U52393MH2007PTC166865 |
SUNSHINE
EXPORTS DIAMONDS PRIVATE LIMITED |
Director |
13-03-09 |
02-02-07 |
31-03-08 |
Active |
NO |
|
18 |
U36911TZ2008PTC014127 |
KIRTILAL
KALIDAS JEWELLERS PRIVATE LIMITED |
Director |
01-01-08 |
01-01-08 |
- |
Active |
NO |
|
19 |
U27205TZ1991PTC003343 |
KIRTILAL
KALIDAS JEWELLERY MANUFACTURERS PRIVATE LIMITED |
Additional
director |
14-12-08 |
14-12-08 |
- |
Active |
NO |
|
20 |
U63010TZ2010PTC016330 |
SURAJ
AGRO LOGISTICS PRIVATE LIMITED |
Director |
26-08-10 |
26-08-10 |
- |
Active |
NO |
|
21 |
U36911MH2009FTC192596 |
EUROSTAR
DIAMONDS INDIA PRIVATE LIMITED |
Director |
20-11-10 |
01-09-10 |
- |
Active |
NO |
|
22 |
U36911TZ2010PTC016534 |
MANIBEN
KIRTILAL JEWELLERS PRIVATE LIMITED |
Director |
19-11-10 |
19-11-10 |
- |
Active |
NO |
|
23 |
U36911TZ2010PTC016530 |
USHA
KIRTILAL JEWELLERS PRIVATE LIMITED |
Director |
19-11-10 |
19-11-10 |
- |
Active |
NO |
|
24 |
U52100DL2011PTC225574 |
DAMIANI
INDIA PRIVATE LIMITED |
Director |
27-09-11 |
27-09-11 |
- |
Active |
NO |
|
25 |
U51909MH2006PTC164058 |
ALBAN
EXPORTS PRIVATE LIMITED |
Additional
director |
08-02-12 |
08-02-12 |
- |
Active |
NO |
|
Name : |
Mr. Thangamuthu Hangamuthu Shanthkumar |
|
Designation : |
Managing Director |
|
Address : |
91, West Venkatasamy Road, R S Puram, Coimbatore-641002, Tamilnadu,
India |
|
Date of Birth/Age : |
01.02.1949 |
|
Date of Appointment : |
01.01.2008 |
|
DIN No.: |
00012631 |
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 |
U65993TZ1991PTC003340 |
SHANTAKUMAR
INVESTMENT COMPANY PRIVATE LIMITED |
Director |
11-07-91 |
11-07-91 |
- |
Active |
NO |
|
2 |
U74999TZ1991PTC003568 |
DIMEXON
INTEGRATED BUSINESS SERVICES PRIVATE LIMITED |
Director |
16-12-91 |
16-12-91 |
26-04-11 |
Active |
NO |
|
3 |
U27205TZ1992PTC003655 |
KIRTILAL
KALIDAS ORNAMENTS EXPORTS PRIVATE LIMITED |
Director |
20-02-92 |
20-02-92 |
- |
Amalgamated |
NO |
|
4 |
U27205TZ1992PTC003877 |
VISPARK
JEWELLERY MANUFACTURERS PRIVATE LIMITED |
Director |
27-08-92 |
27-08-92 |
- |
Active |
NO |
|
5 |
U72200TZ2000PTC009248 |
VISPARK
SOLUTIONS INDIA PRIVATE LIMITED |
Director |
20-03-00 |
20-03-00 |
- |
Active |
NO |
|
6 |
U72300TN1994PTC026973 |
BENCHMARK
SOFTEC PRIVATE LIMITED |
Director |
26-04-04 |
26-04-04 |
- |
Active |
NO |
|
7 |
U05121TZ1993PTC004429 |
SURAJ
AGRO INFRASTRUCTURE (INDIA) PRIVATE LIMITED |
Director |
15-02-07 |
15-02-07 |
- |
Active |
NO |
|
8 |
U36911TZ2008PTC014127 |
KIRTILAL
KALIDAS JEWELLERS PRIVATE LIMITED |
Managing
director |
03-10-08 |
01-01-08 |
- |
Active |
NO |
|
9 |
U91990MH2005NPL154999 |
ALL
INDIA GEMS AND JEWELLERY TRADE FEDERATION |
Director |
08-04-09 |
08-04-09 |
01-04-11 |
Active |
NO |
|
10 |
U63010TZ2010PTC016330 |
SURAJ
AGRO LOGISTICS PRIVATE LIMITED |
Director |
26-08-10 |
26-08-10 |
- |
Active |
NO |
|
11 |
U36911TZ2010PTC016534 |
MANIBEN
KIRTILAL JEWELLERS PRIVATE LIMITED |
Director |
19-11-10 |
19-11-10 |
- |
Active |
NO |
|
12 |
U36911TZ2010PTC016530 |
USHA
KIRTILAL JEWELLERS PRIVATE LIMITED |
Director |
19-11-10 |
19-11-10 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 10.08.2011
|
Names of
Shareholders |
Address |
No. of Shares |
|
Pankaj Kirtilal Mehta |
9 B, Sunitha Apartments, Ridge Road, Mumbai-400006, Maharashtra, India
|
30000 |
|
Kaushik Kirtilal Mehta |
Eekhoornlaan 25, 2610, Wilrij K, Belgium, India |
220000 |
|
Paresh Kirtilal Mehta |
91, West Venkatasamy Road, R S Puram, Coimbatore-641002, Tamilnadu,
India |
50000 |
|
Thangamuthu Hangamuthu Shanthkumar |
114, Tanhee Heights, Napeansea Road, Mumbai-400006, Maharashtra, India
|
200000 |
|
Maniben K Mehta Family Trust |
710, Raheja Chambers, 213, Nariman Point, Mumbai-400021, Maharashtra,
India |
50000 |
|
Pankaj K Mehta Investment Private Limited |
704-705, Raheja Chambers, 213, Nariman Point, Mumbai-400021,
Maharashtra, India |
300000 |
|
Paresh Kirtilal Mehta Investment Private Limited |
704-705, Raheja Chambers, 213, Nariman Point, Mumbai-400021,
Maharashtra, India |
150000 |
|
Total |
1000000 |
|
AS ON 10.08.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
45.00 |
|
Directors or relatives of Directors |
50.00 |
|
Other top fifty shareholders |
5.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Retail trade in gold and gold jewellery |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Axis Bank Limited, 1095, Vigneshwar Cresta,
Pappaaickenpalayam, Avinashi Road, Coimbatore-641037, Tamilnadu, India |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Suri and Company Chartered Accountant |
|
Address : |
Amm Building, 2nd Floor, 354, Mettupalayam Road,
Coimbatore-641043, Tamilnadu, India |
|
Pan No.: |
AABFS5023Q |
|
|
|
|
Other Related Parties : |
·
Vispark Jewellery Manufacturers Private Limited ·
Suraj Agro Products Infrastructure India Private
Limited ·
Benchmark Softec Limited ·
Dimcxon Diamonds Limited ·
Shantbakumar Investments Private Limited ·
Paresh K Mehta Investments Private Limited ·
Pankaj K Mehta Investments Private Limited ·
Eurostar Diamond Traders ·
Eurostar Belgium Inc |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 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 |
10.000 |
10.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
393.222 |
260.443 |
159.972 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
403.222 |
270.443 |
169.972 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
623.649 |
597.067 |
577.388 |
|
|
2] Unsecured Loans |
337.762 |
339.818 |
376.085 |
|
|
TOTAL BORROWING |
961.411 |
936.885 |
953.473 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1364.633 |
1207.328 |
1123.445 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
142.424 |
157.792 |
126.660 |
|
|
Capital work-in-progress |
0.000 |
2.496 |
0.176 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
5.402 |
2.620 |
6.471 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1635.963
|
1325.129 |
1467.275 |
|
|
Sundry Debtors |
39.076
|
40.260 |
12.891 |
|
|
Cash & Bank Balances |
108.435
|
52.658 |
68.081 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
30.608
|
31.730 |
136.516 |
|
Total
Current Assets |
1814.082
|
1449.777 |
1684.763 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
588.440
|
405.357 |
582.705 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
8.835
|
0.000 |
111.920 |
|
Total
Current Liabilities |
597.275
|
405.357 |
694.625 |
|
|
Net Current Assets |
1216.807
|
1044.420 |
990.138 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1364.633 |
1207.328 |
1123.445 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3222.278 |
2989.962 |
|
|
|
|
Making Charges Received |
448.371 |
379.986 |
|
|
|
|
Other Income |
2.233 |
2.295 |
|
|
|
|
TOTAL (A) |
3672.882 |
3372.243 |
3288.250 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
3180.876 |
2457.634 |
|
|
|
|
Direct Expenses |
171.198 |
164.368 |
|
|
|
|
Employees Cost |
145.032 |
121.934 |
|
|
|
|
Repairs and Maintenance |
21.735 |
21.862 |
|
|
|
|
Rent, Rates and Taxes |
45.507 |
28.149 |
|
|
|
|
Other Expenses |
124.456 |
181.198 |
|
|
|
|
Increase / (Decrease) in Stock |
(310.834) |
142.146 |
|
|
|
|
TOTAL (B) |
3377.970 |
3117.291 |
3005.175 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
294.912 |
254.952 |
283.075 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
81.818 |
81.131 |
55.116 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
213.094 |
173.821 |
227.959 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
19.898 |
16.799 |
16.139 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
193.196 |
157.022 |
211.820 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
60.418 |
56.551 |
75.503 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
132.778 |
100.471 |
136.317 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
260.443 |
159.972 |
23.655 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
393.221 |
260.443 |
159.972 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
17.024 |
31.712 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
101.893 |
14.153 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
133 |
100 |
136 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.62
|
2.98 |
4.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.00
|
5.25 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.85
|
9.75 |
11.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.48
|
0.58 |
1.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.87
|
4.96 |
9.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.04
|
3.58 |
2.43 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions of the firm |
Yes |
|
4. Premises details |
No |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
Yes |
|
8. No. of Employees |
No |
|
9. Name of person contacted |
No |
|
10. Designation of contact person |
No |
|
11. Turnover of firm for last three years |
Yes |
|
12. Profitability for last three years |
Yes |
|
13. Reasons for variation <> 20% |
------ |
|
14. Estimation for coming financial year |
No |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
No |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
No |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
Yes |
|
25. Conduct of the banking account |
------ |
|
26. Buyer visit details |
------ |
|
27. Financials, if provided |
Yes |
|
28. Incorporation details, if applicable |
Yes |
|
29. Last accounts filed at ROC |
Yes |
|
30. Major Shareholders, if available |
Yes |
FINANCIAL RESULTS
The sales volume of the company has been under severe pressure from the beginning
of the financial year due to abrupt increase and volatility in the gold price
and due to abnormal increase in the diamond price in the latter part of this
financial year. The directors are taking various initiatives to improve the
sales volume and results of the company.
BUSINESS
OPERATIONS
In view of the buoyancy in the patronage from customers in the Hyderabad
region, the management is in the process of expanding its Hyderabad store by
taking on lease an additional floor in the existing building in which the
Hyderabad store is functioning. Also to penetrate in depth in the Andhra
Pradesh market, the management is establishing a new store at Visakhapatnam and
this new store is expected to commence its operation in the month of August,
2011. As the performance of the Ludhiana store is not encouraging and for the
purpose of making the operation of the store viable, the management shifted its
store to a new premises and it is expected that this store would make positive
contribution to the performance of the company through increase in the sales
volume at reduced operational cost. The performance of the newly started stores
at Cross Cut Road, Coimbatore and at Madurai is encouraging and these stores
make substantial contribution in the performance of the company. Now the
management is expanding its Cross Cut Store to cater the requirements of the
customers.
FINANCE
The company has, during the entire period of financial year, enjoyed
good support from its bankers for its requirement of fund to carry on the day
to day operations. The company is taking various steps to reduce the interest
cost and in the process the management decided to close the high cost loan by
availing financial accommodation from other banks offering lower interest.
The credit rating agency CARE has reaffirmed the rating of “CARE BBB”
for the long term bank facilities and “PR3” for short term bank facilities.
OUTLOOK FOR THE
YEAR 2011-12
The abrupt increase in diamond price and the unusual fluctuation in gold
price cause concerns and theses factors are expected to bring adverse impact on
the volume of sale. The management is taking various initiatives to handle
stiff competition and the anticipated drop in the volume of sale, through
various market promotion strategies and is planning to enter into new markets.
The management is focusing its promotional activities on sale of diamond
jewelleries by embarking its resources into niche markets and the initiatives
of the management is expected to bring favorable results. The management has
also taken various cost reduction measures and the management expects that
these initiatives would enable the company to improve its bottom line.
FORM 8
|
Corporate
identity number of the company |
U36911TZ2008PTC014127 |
|
Name of the
company |
KIRTILAL KALIDAS
JEWELLERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
601, Raja Street, Coimbatore-641001, Tamilnadu, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
Axis Bank Limited, 1095, Vigneshwar Cresta, Pappaaickenpalayam, Avinashi Road, Coimbatore-641037, Tamilnadu, India |
|
Nature of instrument
creating charge |
1. Composite
hypothecation deed (current assets, movables, plant and machinery) |
|
Date of
instrument Creating the charge |
16.04.2012 |
|
Amount secured by
the charge |
Rs. 100.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest AD HOC CC: 3.00%
Above Axis Base Rate (The Base Rate Applicable At Present Being 10.00% P.A)
I.E Presently At The Rate of 13.00 Percent Per Annum Terms of repayment As Per The
Agreement Margin ADHOC CC: 25% On
Stock and Receivables (Book Debt With A Cover Period of 120 Days) Extent and operation of the charge The charge
operates to secure the loan amount of (AD HOC CC)Rs.100.000 Millions as
under: Hypothecation of entire
current and movable fixed assets of the company both present and future on
subservient charge basis. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
Entire Current and Movable Fixed Assets of The Company Both Present and
Future on Subservient Charge Basis. |
FIXED ASSETS
·
Land
·
Building
·
Furniture and Fittings
·
Electrical Fittings
·
Plant and Machinery
·
Vehicles
·
Computers
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. 52.93 |
|
|
1 |
Rs. 85.85 |
|
Euro |
1 |
Rs. 69.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
-- |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
6 |
|
--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 |
|
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.