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Report Date : |
07.11.2013 |
IDENTIFICATION DETAILS
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Name : |
UNITY DIAMOND DISTRIBUTORS (PTY) LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
04.01.1982 |
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Com. Reg. No.: |
M1982/000009/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Buying and Selling of
Jewellery |
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No. of Employees : |
10 employees |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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 |
south Africa is a middle-income, emerging market
with an abundant supply of natural resources; well-developed financial, legal,
communications, energy, and transport sectors; a stock exchange that is the
18th largest in the world; and modern infrastructure supporting a relatively
efficient distribution of goods to major urban centers throughout the region.
Growth was robust from 2004 to 2007 as South Africa reaped the benefits of
macroeconomic stability and a global commodities boom but began to slow in the
second half of 2007 due to an electricity crisis and the subsequent global
financial crisis' impact on commodity prices and demand. GDP fell nearly 2% in
2009 but recovered in 2010-11. Unemployment remains high and outdated
infrastructure has constrained growth. State power supplier Eskom encountered
problems with aging plants and meeting electricity demand necessitating
"load-shedding" cuts in 2007 and 2008 to residents and businesses in
the major cities. Daunting economic problems remain from the apartheid era -
especially poverty, lack of economic empowerment among the disadvantaged
groups, and a shortage of public transportation. South Africa''s economic
policy is fiscally conservative focusing on controlling inflation and attaining
a budget surplus. The current government largely follows these prudent policies
but must contend with the impact of the global crisis and is facing growing
pressure from special interest groups to use state-owned enterprises to deliver
basic services to low-income areas and to increase job growth.
|
Source : CIA |
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Subject
Name |
UNITY
DIAMOND DISTRIBUTORS (PTY)LTD |
|
Country |
South
Africa |
|
Subject
Contact Person |
MRS. HAZEL
GOLDSTEIN - Accountant |
|
Assessment |
This is a well-established
business. On investigation we made contact with the subject and we were
referred to the accountant MRS. HAZEL GOLDSTEIN who assisted with most of the
information on the subject. However MRS. GOLDSTEIN
declined to assist with the financial information for the subject. The subject is meeting
commitments timeously with their suppliers. We are awaiting a bank
code for R 500 000 over a period of 30 Days. Please see the available
information for the subject below. |
|
Registered
Name |
UNITY
DIAMOND DISTRIBUTORS (PTY)LTD |
|
Trading
as/ Division Name |
UNITY
DIAMOND DISTRIBUTORS |
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Registration
Number |
M1982/000009/07 |
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Registration
Date |
1982/01/04 |
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Date
Commenced Trading |
1982-01-04 |
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Age of
Business |
30 Years 9
Months |
|
History of
Business |
The subject was established as a
new business in 1982. |
|
History of
Principals |
There are
two active directors within the company. |
|
Shareholders/Members/Partners
of subject and % holding |
90 % - BERNARD
SHER, 10 % - MARTIN GERSCHLOWITZ |
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Authorised
Share Capital |
R0.00 |
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Issued
Share Capital/Members Contribution |
R0.00 |
|
Status |
In
Business |
|
Operations
Assessment |
Buying and
Selling of Jewellery |
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Industry/
Customers |
ALL MAJOR JEWELLERS |
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Export |
Yes |
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Major
Industry Code / SICC |
61393 |
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Head
Office Physical Address |
27 Ridge
Road 209, 2nd Floor East Tower, PARKTOWN, JOHANNESBURG |
|
Head
Office Postal Address |
P O BOX
2940, PARKLANDS, 2121 |
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Current
Tel Number |
011 4842594 |
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Current
Fax Number |
011
4843219 |
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Current
Email Address |
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Company
Registered Name |
BG
ASSOCIATES CC |
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Trading
Name |
BG
ASSOCIATES |
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Registration
Number |
B2009/112872/23 |
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Physical
Address |
FISRT
FLOOR, 7 QUEENS SQAURE, COMER CROSS ROADS, GLENHAZEL, 2192 |
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Postal
Address |
P 0 BOX
1900, HIGHLANDS NORTH, 2037 |
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Contact
Person |
BRIAN |
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Contact
Number |
0114403382 |
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Email |
|
|
Principals |
1 |
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Subject
Verified as Client |
Yes |
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Practice
Number |
20044440 |
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Tax Number |
9071070198 |
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Financial
Year End |
February |
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No of
years in Business |
3 Years |
Previous auditors
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Company Name |
Phone Number |
Time with previous auditors |
Comment |
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GRUZD ZETS AND CO |
|
31 |
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Vat Number |
4550121067 |
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Status |
ACTIVE |
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Vat Liable
Date |
1991/09/30 |
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Tax Number |
9629145849 |
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Financial
Year End |
February |
Black Economic Empowerment Information - No
Information on Record
ISO Information - No Information on Record
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Registered |
Yes |
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Compliance
Certified |
Yes |
Subsidiaries Information - No Information on Record
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Employees |
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Number of
Employees |
10 |
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1.
Salaried employees |
10 |
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2. Waged
employees |
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3.
Permanent employees |
10 |
Company Fleet Information - No Information on Record
Offices
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Offices |
Offices |
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Head
Office Owned/ Rented |
Leased |
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Type of
Premises |
Offices |
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Comment |
The
subject has leased the premises for a period of 20 years. |
Branch Information - No Information on Record
Organisational Chart – no information on
Company Structure (Ownership)
Note: One level up and all levels down
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Holding |
Company |
Sub |
Comment |
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90% |
BERNARD SHER |
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10% |
MARTIN GERSCHLOWITZ |
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Key Deals - No Information on Record
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Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial
Bonds |
Comment |
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1 |
DAWN WOLF DAIMONDS |
0114843548 |
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2 |
ERNEST BLOM DIAMONDS |
0113343091 |
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3 |
GUESS DIAMONDS |
0113347220 |
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Nr |
Age
of Acc |
Credit Limit |
Max
Credit |
Terms |
Average
Purchases |
Terms
Taken |
Comment |
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1 |
25 Years |
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R 400000 |
15 Days |
R 20000 |
15 Days |
Excellent |
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2 |
16 Years |
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R180000 |
C.O.D |
R150000 |
C.O.D |
Very Good |
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3 |
20 Years |
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R 500000 |
30 Days |
R 300000 |
30 Days |
Very Good |
Judgements - No information on record
Business Rescue - No Information on Record
Default Listing - No information on record
Notarial Bonds - No information on record
|
Bank |
STANDARD
BANK |
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Branch |
SAAAL
STREET |
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Bank
Account Number |
001367331 |
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Type of
Account |
Current |
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Account
Name |
UNITY
DIAMONDS DISTRIBUTORS(PTY)LTD |
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Overdraft
Facilities |
None |
Bank Code History - No Information on Record
Previous Bank Account Information - No
Information on Record
Deeds Information - No information on record
|
Number of
Principals |
2 |
|
Average
Age of Active Principals |
50 |
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Active
Principals Principal - 1of 2 MARTIN GERSCHLOWITZ |
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|
Surname |
GERSCHLOWITZ |
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First Name |
MARTIN |
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Other
Names |
None |
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Marital
Status |
Married |
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ID Number |
7208175204082 |
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Verified
ID Number |
Yes |
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Current
Age |
40 |
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Designation |
SALESMAN |
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Status |
Active |
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Appointment
Date |
2001/12/13 |
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Physical
Address (at time of Appointment) |
11 BRUCE
STREET, WAVERLY, 2090 |
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Postal
Address |
P 0 BOX
2940, PARKLANDS, 2121 |
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Current
Tel Number |
0114405522 |
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Cell
number |
0824126345 |
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Shareholding/Membership |
10% |
Principal's Adverse - No information on record
Business Information for MARTIN GERSCHLOWITZ
Principal Current Business Interests
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Company
Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
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UNITY DIAMOND DISTRIBUTORS (PTY) LTD |
M1982/000009/07 |
In Business |
30 Years 6 Months |
0 |
No |
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Principal Previous Business Interests
Average Age of Previous Business 8
years
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Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
UNIT D14
BURNSIDE MEWS CC |
B1997/032435/23 |
Deregistration Final |
15 Years 3
Months |
0 |
No |
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VOYAGER
DIAMONDS (PTY) LTD |
M2006/037326/07 |
Deregistration Final |
6 Years 6 Months |
0 |
No |
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LITTLE STARS EARLY INTERVENTION CENTRE |
M2007/021599/08 |
In
Business |
5 Years 5 Months |
0 |
No |
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Principal's
Deeds Information - No information on record
Principal - 2of 2 BERNARD BRIAN SHER
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Surname |
SHER |
|
First Name |
BERNARD
BRIAN |
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Other
Names |
None |
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Marital
Status |
Married |
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ID Number |
5110235032002 |
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Verified
ID Number |
Yes |
|
Current
Age |
61 |
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Designation |
Director |
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Status |
Active |
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Appointment
Date |
1982/04/01 |
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Physical Address
(at time of Appointment) |
3 CORBEL
CRESCENT, GLENHAZEL, JOHANNESBURG, 2192 |
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Postal
Address |
5044 DIAMANT CENTRUM 2, 21 QUARTZ
STREET, 21 QUARTZ STREET, JOHANNESBURG, 2001 |
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Current
Tel Number |
011
4842594 |
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Shareholding/Membership |
90% |
Principal's Adverse - No information on record
Business Information for BERNARD BRIAN SHER
Principal Current Business Interests
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Company
Name |
Registration
No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
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LEESHER CC |
2004/059380/23 |
In Business |
8 Years 8 Months |
0 |
No |
|
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UNITY
DIAMOND DISTRIBUTORS (PTY) LTD |
M1982/000009/07 |
In Business |
30 Years 6
Months |
0 |
No |
|
|
CENTURY-ONE
INVESTMENT HOLDING (PTY)LTD |
M2003/022177/07 |
In Business |
9 Years 9 Months |
0 |
No |
|
|
LEESHER CRESCENT (PTY) LTD |
M2005/020933/07 |
In Business |
7 Years 7 Months |
0 |
No |
|
|
LEESHER AVENUE (PTY) LTD |
M2005/022566/07 |
In Business |
7 Years 7 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 12
years
|
Company Name |
Registration No |
Status |
Age of
Business |
Judgements |
Liquidation |
Comment |
|
MUTUAL
RISK SOLUTIONS (PTY)LTD |
2006/023092/07 |
Deregistration Final |
6 Years 6
Months |
0 |
No |
|
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ROBEDA MANUFACTURING
JEWELLERS CC |
B1990/004252/23 |
Deregistration Final |
22 Years
10 Months |
0 |
No |
|
|
SOUNDPROPS
1286 CC |
B1993/007290/23 |
Deregistration Final |
19 Years 7
Months |
0 |
No |
|
|
SOUNDPROPS
1287 CC |
B1993/007291/23 |
Deregistration Final |
19 Years 7
Months |
0 |
No |
|
|
BRUMA CLUSTERS (PTY) LTD |
M1993/001650/07 |
Deregistration Final |
19 Years 7
Months |
0 |
No |
|
|
PROSPERITY GROUP (PTY) LTD |
M2001/020633/07 |
In
Business |
11 Years
11 Months |
0 |
No |
|
|
BRENTWOOD CONSULTING (PTY) LTD |
M2002/003147/07 |
In
Business |
10 Years
10 Months |
0 |
No |
|
|
CLAIMS
CUBED (PTY) LTD |
M2003/010293/07 |
Deregistration Final |
9 Years 9
Months |
0 |
No |
|
|
DEBT
CLINIC (PTY)LTD |
M2005/044378/07 |
In
Business |
7 Years 7
Months |
0 |
No |
|
|
VOYAGER
DIAMONDS (PTY) LTD |
M2006/037326/07 |
Deregistration Final |
6 Years 6
Months |
0 |
No |
|
DIAMOND INDUSTRY –
INDIA
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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.
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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.
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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 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.
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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.
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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 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.
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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.61.92 |
|
UK Pound |
1 |
Rs.99.60 |
|
Euro |
1 |
Rs.83.64 |
INFORMATION DETAILS
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Report Prepared
by : |
|
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.