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Report Date : |
23.05.2012 |
IDENTIFICATION DETAILS
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Name : |
K C JEWELS LTD. |
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Registered Office : |
C/o A & R Corporate Secretaries Ltd. Room 1601, 16/F., 101 King’s Road, North Point |
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Country : |
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Date of Incorporation : |
20.09.2011 (Non-Hong Kong Company) |
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Com. Reg. No.: |
590009273 |
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Legal Form : |
Limited Company |
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LINE OF BUSINESS : |
IMPORTER, EXPORTER AND WHOLESALER OF ALL KINDS OF JEWELLERY
AND RELATED PRODUCTS, ETC. IT
ALSO TRADES IN GEMS, LOOSE DIAMONDS, POLISHED AND CUT DIAMONDS, ETC. |
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No. of Employees : |
Nil. |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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 |
|
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 |
K C
JEWELS LTD.
ADDRESS: c/o A & R Corporate
Secretaries Ltd.
Room 1601, 16/F.,
101 King’s Road, North Point,
PHONE: 2563 8012
FAX: 2562 6148
Authorized Representative in
Registered in
(Non-Hong Kong Company)
Organization: Limited
Company.
Capital: Provided by
its Head Office.
Business Category: Jewellery
Trader.
Employees:
Nil.
Main Dealing Bankers: The Hongkong
& Shanghai Banking Corp. Ltd.,
Banking Relation: Too
early to comment.
Registered Head Office:-
OMC Chambers, Wickhams Cay I,
Room 1601, 16/F., 101 King’s Road, North Point,
Associated Company:-
D.N. Gems Co. Ltd.,
590009273
F0018662
Authorized Representative in
[Address: Flat B, 32/F.,
Tower 6,
(As per registry dated 20-09-2011)
|
Name (Nationality) |
Address |
|
Shashin Suresh MEHTA |
Room 12A, 111/19, Soibumphen, Thung Mahamek, Sathon, |
|
Yimasi SHALA |
Room 1401, No. 3 Lane 1667, |
(As per registry dated 20-09-2011)
|
Name |
Address |
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Gen Glad Secretaries Ltd. |
Room 1601, 16/F., 101 King’s Road, North Point, |
1001061 |
The subject was incorporated in the
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer, Exporter and Wholesaler.
Lines: All kinds of jewellery
and related products, etc.
Employees: Nil.
Commodities Imported:
Markets:
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C,
T/T, etc.
Capital:
Provided by
its Head Office.
Profit or Loss: Too early to
offer an opinion.
Condition: Business is under development.
Facilities: Making fairly active use of general
banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Too early to comment.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd.,
Standing: Small.
K C Jewels Ltd. is a Non-Hong Kong company which was registered in
The subject does not have its own operating office. Its registered office is in a commercial
service firm located at Room 1601, 16/F., 101 King’s Road, North Point, Hong
Kong known as A & R Corporate Secretaries Ltd. which is handling its
correspondences and documents. This
firm’s associate Gem Glad Secretaries Ltd., also located at the above-mentioned
address, is the corporate secretary of the subject.
The subject’s authorized representative Mr. Hardik Paresh Koradia is an
Indian who is a Hong Kong ID Card holder and has got the right to reside in
The director of the subject Mr. Shashin Suresh Mehta is also an Indian
who is currently residing in
The subject is a jewellery trader.
It also trades in gems, loose diamonds, polished and cut diamonds,
etc. D.N. Gems also trades under the
name of the subject.
Most of the subject’s commodities are imported from
The subject’s business is handled by Mr. Hardik Paresh Koradia.
In
Since the subject does not have its own operating office and has no
employees in
DIAMOND INDUSTRY –
-
From time immemorial,
-
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.
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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
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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.
-
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
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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.54.88 |
|
|
1 |
Rs.86.84 |
|
Euro |
1 |
Rs.70.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
|
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 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.