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Report Date : |
09.11.2013 |
IDENTIFICATION DETAILS
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Name : |
NAVSHANTI (HK) LTD. |
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Registered Office : |
Room A, 4/F., Hart House, |
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Country : |
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Date of Incorporation : |
20.12.1999 |
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Com. Reg. No.: |
30596421 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of Canned foodstuffs, fruit products,
all kinds of slippers and toiletries, electric appliances, electronic
products, jewellery |
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No. of Employees : |
6 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 |
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Source
: CIA |
NAVSHANTI (HK)
LTD.
Room A, 4/F., Hart House,
PHONE: 852-2366 5986, 2366
5383
FAX: 852-2367 7957
E-MAIL: navshanti@biznetvigator.com
nav1@hkstar.com
Managing Director: Mr. Chandresh Naval Rai Mirpuri
Incorporated on: 20th
December, 1999.
Organization: Private
Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category: Importer, Exporter and Wholesaler.
Annual Turnover: HK$60~80
million.
Employees:
6.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd.,
Banking Relation: Satisfactory.
NAVSHANTI (HK)
LTD.
Registered Head
Office:-
Room A, 4/F., Hart House,
Mailing Address:-
Business Name: Sino Chan
Enterprises, Hong Kong. (Same address)
Associated
Companies:-
Navshanti (Far East) Ltd.,
Navshanti (
Navshanti Trading
30596421
0698524
Managing Director: Mr. Chandresh Naval Rai Mirpuri
Contact Person: Mr. Kumar Sukhwani
Nominal Share Capital: HK$1,000,000.00
(Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
(As per registry dated 20-12-2012)
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Name |
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No. of shares |
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Chandresh Naval Rai MIRPURI |
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400,000 |
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Sanjay Chandresh MIRPURI |
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300,000 |
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Romesh Chandresh MIRPURI |
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300,000 |
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–––––––– |
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Total: |
1,000,000 ======= |
(As per registry dated 01-05-2013)
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Name (Nationality) |
Address |
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Chandresh Naval Rai MIRPURI |
Room 126A, 11/F., |
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Romesh Chandresh MIRPURI |
11/F., Celestial Heights, Phase 2, 80 Sheung Shing Street, KIL 11124,
Ho Man Tin, Kowloon, Hong Kong. |
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Sanjay Chandresh MIRPURI |
Room 126A, 11/F., |
Chandresh Naval Rai MIRPURI (As
per registry dated 20-12-2012)
The subject was incorporated on 20th December, 1999 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change
nor amendment has been ever traced and noted.
Activities: Importer,
Exporter and Wholesaler.
Lines: Canned
foodstuffs, fruit products, all kinds of slippers and toiletries, electric
appliances, electronic products, jewellery.
Employees: 6.
Commodities Imported:
Markets: Africa,
Annual Turnover: HK$60~80 million.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C,
T/T, D/P, etc.
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
Mortgage or Charge:-
Date of Assignment
of Life Insurance: 03-10-2011
Amount: Secured Monies
Property: Property Charged: (i) all the
Assignor’s claims, options, privileges, right, title, interest and benefit in
and under the Insurance; and (ii) all the Assignor’s claims and rights against
the issuer of the Policy (No. 28004336-50) upon the terms
Mortgagee: The Hongkong & Shanghai Banking Corp.
Ltd.,
Profit or Loss: Making a small profit every year.
Condition:
Keeping in a
rather active condition.
Facilities:
Making active
use of general banking facilities.
Payment:
Met trade
commitments as contracted.
Commercial Morality: Satisfactory.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd.,
Standing:
Having issued 1 million ordinary shares of HK$1.00 each, Navshanti (HK)
Ltd. is jointly owned by Mr. Chandresh Naval Rai Mirpuri, holding 40%
interests; Mr. Sanjay Chandresh Mirpuri, holding 30%; and Mr. Romesh Chandresh
Mirpuri, also 30%. The Mirpuris are also
directors of the subject. They are Hong
Kong ID holders and have got the right to reside in
The subject’s business name is Sino Chan Enterprises. The business name can be regarded as a
subsidiary of the subject which is located at the same address. Currently they are residing in
The subject is trading in the following commodities:-
Radios, cassette players, electric fans, electronic products such as
laptops, digital cameras, etc., heaters, irons, kettles, cookers, blenders,
cookware, tools, batteries, footwear, canned foodstuffs, fruit products,
slippers, toiletries, hardware, beverages, luggage, enamelware, hardware,
bulbs, lighting products, stationery, meat mincer, sundry products, detergent,
jewellery, jewellery parts, cosmetics, etc.
In recent years, the subject has been trying to expand its product lines
and seeking for more suppliers.
Commodities are sourced from
The subject has had associated companies in
The contact person of the subject Mr. Kumar Sukhwani is also an Indian.
The annual sales turnover of the subject ranges from HK$60 to 80
million. Business is rather active. Making a small profit every year.
The subject usually takes part in Canton Commodities Exchange Fair which
is held in
The subject had an affiliated company Navshanti (
The subject is a family business of the Mirpuris.
As the history of the subject in
DIAMOND INDUSTRY –
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From time immemorial,
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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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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 –
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Gem & 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,
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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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.73 |
|
|
1 |
Rs.100.92 |
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Euro |
1 |
Rs.84.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
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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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.