|
Report Date : |
17.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SANGHAVI EXPORTS INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
502, Prasad Chambers, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.04.2007 |
|
|
|
|
Com. Reg. No.: |
11-170013 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 242.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36911MH2007PTC170013 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCS7350N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Cut and Polished Diamonds. |
|
|
|
|
No. of Employees
: |
2300 (Approximately) (In Office 300) (In Factory 2000) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 12240000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a successor of partnership concern started in the year
1984. Later in the year 2007 it got converted into private limited company. It is an established company having satisfactory track record. The company has achieved a better growth in its sales turnover as well
as the net profitability during 2012. Liquidity position appears to be good. Trade relations are fair. Business is active. Payment terms are
reported as regular 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BBB = Long Term Bank Facilities |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
30 January 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Raju Vyas |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-23676724 |
|
Date : |
03.07.2013 |
LOCATIONS
|
Registered Office : |
502, Prasad Chambers, Opera House, Mumbai – 400004, |
|
Tel. No.: |
91-22-23643992 / 3 / 0 |
|
Mobile No.: |
91-9867386829 |
|
Fax No.: |
91-22-23671575 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
800 sq.fts |
|
Location : |
Owned |
|
|
|
|
Factory : |
Opposite |
|
Tel. No.: |
91-261-251389 |
|
Fax No.: |
91-261-2513898 |
|
Area : |
100000 sq.fts |
|
Location : |
Owned |
|
|
|
|
Branches : |
601-2, Trans HK Comms Building, 41-43, |
|
Tel. No.: |
852-2721-8608 |
|
Fax No.: |
852-27239704 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Chandrakantbhai Ravchandrabhai Sanghvi |
|
Designation : |
Director |
|
Address : |
25/252 Pariki Plot 1, B/H Tribhuvan Complex, Athwalines, |
|
Date of Birth/Age : |
06.12.1951 |
|
Date of Appointment : |
16.04.2007 |
|
DIN No.: |
00392409 |
|
|
|
|
Name : |
Mr. Ketankumar Kirtilal Sanghavi |
|
Designation : |
Director |
|
Address : |
1301, Chandanbala,
13th Floor, Ratilal Thakkar Marg, Walkeshwar., Mumbai, 400006, |
|
Date of Birth/Age : |
29.08.1949 |
|
Date of Appointment : |
16.04.2007 |
|
DIN No.: |
00794060 |
|
|
|
|
Name : |
Mr. Rameshchandra Ravchandbhai Sanghavi |
|
Designation : |
Director |
|
Address : |
3, Sanghavi Bunglow,Near Indoor, Stadium,Tribhuvan Complex, |
|
Date of Birth/Age : |
29.08.1949 |
|
Date of Appointment : |
16.04.2007 |
|
DIN No.: |
00813863 |
|
|
|
|
Name : |
Mr. Kirtilal Ravchandbhai Sanghavi |
|
Designation : |
Director |
|
Address : |
Sy No. 2369 / 7
2369 / 8 EP 251 252 Paiy, Plot 4 B/H, Tribuuvan Complex Athwalines, |
|
Date of Birth/Age : |
02.11.1947 |
|
Date of Appointment : |
16.04.2007 |
|
DIN No.: |
01037677 |
|
|
|
|
Name : |
Mr. Kalpesh Vasantlal Sanghavi |
|
Designation : |
Director |
|
Address : |
19, Kailash
Niketan Society, 24, l. D. Ruparel Marg, Walkeshwar, Mumbai- 400006,
Maharashtra, India |
|
Date of Birth/Age : |
01.06.1968 |
|
Date of Appointment : |
16.04.2007 |
|
DIN No.: |
01038197 |
|
|
|
|
Name : |
Mr. Jayesh Vasantlal Sanghavi |
|
Designation : |
Director |
|
Address : |
19, Kailash Niketan
Society, 24, l. D. Ruparel Marg, Walkeshwar, Mumbai- 400006, Maharashtra,
India |
|
Date of Birth/Age : |
01.06.1968 |
|
Date of Appointment : |
16.04.2007 |
|
DIN No.: |
00814828 |
|
|
|
|
Name : |
Mr. Virenkumar Kirtilal Sanghavi |
|
Designation : |
Director |
|
Address : |
1 Vir Ratna
Bunglow No. 1, Tribhuvan Complex, Opposite Indor Stadium Ghodhar Road, Surat
-395007, Gujarat, India |
|
Date of Birth/Age : |
25.05.1979 |
|
Date of Appointment : |
16.04.2007 |
|
DIN No.: |
01550260 |
|
|
|
|
Name : |
Mr. Aagam Chandrakantbhai Sanghavi |
|
Designation : |
Director |
|
Address : |
Aagaman Sanghavi
Bunglow - 2, Opposite Indoor Stadium, Athwalines, |
|
Date of Birth/Age : |
18.11.1983 |
|
Date of Appointment : |
16.04.2007 |
|
DIN No.: |
01554599 |
KEY EXECUTIVES
|
Name : |
Mr. Raju Vyas |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Chandrakant Ravchandbhai Sanghavi |
|
1100000 |
|
Chandrakant Ravchandbhai Sanghavi (HUF) |
|
3520000 |
|
Ketankumar Kirtilal Sanghavi |
|
880000 |
|
Kirtilal Ravchandbhai Sanghavi |
|
440000 |
|
Kirtilal Ravchandbhai Sanghavi (HUF) |
|
3520000 |
|
Virenkumar Kirtilal Sanghavi |
|
660000 |
|
Rameshchandra Ravchandbhai Sanghavi |
|
660000 |
|
Rameshchandra Ravchandbhai Sanghavi (HUF) |
|
3960000 |
|
Sanghavi Family Trust (HUF) |
|
660000 |
|
Jayesh Vasantlal Sanghavi |
|
616000 |
|
Kalpesh Vasantlal Sanghavi |
|
616000 |
|
Sanghavi Jewellery Manufacturing Private Company Limited, |
|
4180000 |
|
Vasantlal Ravchandbhai Sanghavi (HUF) |
|
1100000 |
|
Roseate Trading Private Limited, |
|
1000000 |
|
Cohort Mercantile Private Limited, |
|
1000000 |
|
Cupidity Trading Private Limited, |
|
200000 |
|
Bhartiben V. Sanghavi |
|
88000 |
|
Total |
|
24200000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
26.36 |
|
Directors or relatives of Directors |
20.91 |
|
Other top fifty shareholders |
52.73 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cut and Polished Diamonds. |
|
|
|
|
Exports : |
|
|
Products : |
Diamonds |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Diamonds |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Credit |
|
|
|
|
Purchasing : |
Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
2300 (Approximately) (In Office 300) (In Factory 2000) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Khandekar and Associates Chartered Accountants |
|
Address : |
Saraswati
Bhuvan, |
|
PAN No.: |
AAJPJ4328F |
|
|
|
|
Subsidiaries : |
|
|
|
|
|
Fellow
subsidiaries : |
|
|
|
|
|
Enterprises in which key management personnel or
their relative have significant
influence: |
|
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs. 10/- each |
Rs. 250.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24200000 |
Equity Shares |
Rs. 10/- each |
Rs. 242.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
242.000 |
242.000 |
|
(b) Reserves & Surplus |
|
2817.495 |
2308.154 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
3059.495 |
2550.154 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1.945 |
0.838 |
|
(b) Deferred tax liabilities (Net) |
|
48.896 |
34.491 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
9.882 |
7.515 |
|
Total Non-current Liabilities (3) |
|
60.723 |
42.844 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
5222.721 |
5343.197 |
|
(b) Trade payables |
|
3710.278 |
1699.565 |
|
(c) Other current
liabilities |
|
14.464 |
20.565 |
|
(d) Short-term provisions |
|
0.861 |
0.725 |
|
Total Current Liabilities (4) |
|
8948.324 |
7064.052 |
|
|
|
|
|
|
TOTAL |
|
12068.542 |
9657.050 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
736.314 |
384.794 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
7.464 |
1.388 |
|
(iv) Intangible
assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
179.937 |
175.937 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
81.531 |
65.842 |
|
(e) Other Non-current assets |
|
1.262 |
2.223 |
|
Total Non-Current Assets |
|
1006.508 |
630.184 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
4709.477 |
3487.203 |
|
(c) Trade receivables |
|
6232.319 |
5443.518 |
|
(d) Cash and cash
equivalents |
|
43.420 |
23.134 |
|
(e) Short-term loans and
advances |
|
76.818 |
73.011 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
11062.034 |
9026.866 |
|
|
|
|
|
|
TOTAL |
|
12068.542 |
9657.050 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
242.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
2159.792 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2401.792 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
5714.339 |
|
|
2] Unsecured Loans |
|
|
286.570 |
|
|
TOTAL BORROWING |
|
|
6000.909 |
|
|
DEFERRED TAX LIABILITIES |
|
|
31.129 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8433.830 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
347.642 |
|
|
Capital work-in-progress |
|
|
44.046 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
118.100 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
2620.546 |
|
|
Sundry Debtors |
|
|
6376.976 |
|
|
Cash & Bank Balances |
|
|
29.587 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
201.857 |
|
Total
Current Assets |
|
|
9228.966 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1283.755 |
|
|
Other Current Liabilities |
|
|
13.954 |
|
|
Provisions |
|
|
7.215 |
|
Total
Current Liabilities |
|
|
1304.924 |
|
|
Net Current Assets |
|
|
7924.042 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8433.830 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
TOTAL
INCOME |
12221.648 |
10979.273 |
11489.931 |
|
|
|
|
|
|
|
|
TOTAL EXPENSES |
11966.486 |
10758.549 |
11320.130 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
255.162 |
220.724 |
169.801 |
|
|
|
|
|
|
|
|
PROVISION FOR
TAX |
82.104 |
72.362 |
71.393 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
173.058 |
148.362 |
102.289 |
|
|
|
|
|
|
|
|
PRIOR YEAR TAX
ADJUSTMENTS |
0.000 |
0.000 |
3.881 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
610.154 |
461.792 |
363.384 |
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
783.212 |
610.154 |
461.792 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
11733.163 |
10886.427 |
11085.661 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.15 |
6.13 |
4.23 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.42
|
1.35 |
0.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.15
|
2.33 |
1.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.09 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.71
|
2.10 |
2.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24
|
1.28 |
7.07 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-------- |
|
22] |
Litigations that the firm
/ promoter involved in |
--------- |
|
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 |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
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.
-
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.
-
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 –
-
Gem and Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
-
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market
liquidity.
UNSECURED LOANS:
|
Particulars |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Loans and advances from directors |
103.234 |
75.414 |
|
Loans and advances from others |
191.394 |
191.440 |
|
Other loans and advances |
4.042 |
4.042 |
|
Total |
298.670 |
270.896 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U36911MH2007PTC170013 |
|
Name of the company |
SANGHAVI EXPORTS INTERNATIONAL PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
502, Prasad Chambers, Opera House, Mumbai – 400004, Email ID: hansmukhkjain@gmail.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10069566 |
|
Type of charge |
Immovable property Any interest in immovable property |
|
Particular of charge holder |
Bank of India and 12 others, Opera House Mid Corporate Branch, Hermes
House , Opera House , Mumbai – 400 004, Maharashtra, India |
|
Nature of instrument creating charge |
Deed of rectification/Modification to the Original Second Supplemental
Memorandum of Entry/Continuing Oral Assent for creating Extending Joint
Equitable Mortgage executed under Case No. ADJ/M/2801/2012/Certificate No.
2395/12 dated 07.11.2012. |
|
Date of instrument Creating the charge |
28.01.2013 |
|
Amount secured by the charge |
Rs. 7020.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest
Rate of Interest/Commission/Charges as advised by member Banks from
time to time. Terms of
Repayment On Demand. Margin As advised by member Banks from time to time. Extent and
Operation of the charge Equitable mortgage as security by way of first charge as a continuing
security for securing the due repayment ,discharge and redemption of the pre
shipment and post shipment facilities including ADHOC and untied portion upto
aggregate limit of Rs. 7020.000 Millions together with interest, addl. Interest, further interest by way of
liquidated damages, commission, costs, charges, expenses and other moneys
payable thereon by company to BOI consortium/member Banks. Others Members of BOI Consortium for detailed limits. The consortium members
banks may, at their discretion, consider allowing interchangeability between
pre-shipment and post shipment credit and vice versa, within their overall
exposure as advised by the individual Bank from time to time. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
1)
Office Premises No. 502, Prasad Chambers, Opera
House, Mumbai - 400 004 , 2)
Indl. Plots
and Factory premises on No .4/A - 5, of revenue S No. 14 of Village Tunki,
Taluka and District Surat. 3)
All right, title and interest in Office premises
Nos. 101, 102, 108 to 110 and 501 in Diamond Trader Aptt on land bearing
Nondh Nos. 1978 to 1981 and 2887 CS No. 6 at Dalgia Mohalla, Mahidharpura area of 4)
Office premises No. 2 and 102 at Ashish Chambers,
Mahidharpura, 5)
Industrial Plots and factory bearing No. 5/A-1
and 2 RS No. 14 of Village Tunki, Taluka and District Surat. 6)
Office Premises No. CE4011 admeasuring 6102 sq.ft
together with additional passage area admeasuring Sq.Ft. 45.21 alloted at
Bharat Diamond Bourse, Bandra Kurla Complex, Bandra (East), Mumbai - 51, 7)
Office Premises No. CE 5030 admeasuring 262
Sq.Ft. Allotted at Bharat Diamond Bourse, Bandra Kurla Complex, Bandra
(East), Mumbai - 51. |
|
Date of instrument modifying the charge |
10.11.2012 |
|
Particulars of the present modification |
3rd Modification. The principal amount of charge on mortgaged property
situated at Industrial Plots and Factory Premises bearing plot No. 5/A-1 and
2 Revenue Survey No. 14 of Village Tunki, Taluka and District Surat
admeasuring 1206.07 sq.mtrs is revised to Rs. 7020.000 Millions. |
FIXED ASSETS:
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 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. 59.39 |
|
|
1 |
Rs. 89.89 |
|
Euro |
1 |
Rs. 77.72 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.