MIRA
INFORM REPORT
|
Report Date : |
11.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
GODHANI GEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
DW-4220, Bharat Diamond Bourse, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.06.2011 |
|
|
|
|
Com. Reg. No.: |
11-218207 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.203.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH2011PTC218207 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG15513B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECG2692P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Diamonds. |
|
|
|
|
No. of Employees
: |
2500 [Approximately] |
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 3845924 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a successor of Godhani Gems,
Partnership Concern incorporated during the year 1995 and later in June 2nd,
2011 it got converted into Godhani Gems Private
Limited. It is an established company having a satisfactory track record.
General position of the company seems to be decent. Trade relations are fair. Business is active. Payments are reported to
be slow but correct. The company can be considered 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.
INDIAN ECONOMIC OVERVIEW
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs 1,000
denominations, pushing the deadline to January 1, 2015. A day before dates for
the Lok Sabha polls were
announced, the government decided to hike interest rates on fixed deposit
schemes offered by post offices up to 0.2 per cent. The new rates will be
effective April, 1. The Supreme Court will resume hearing on March, 11 Nokia’s
appeal against a ruling over transferring ownership of its local mobile phones
plant which is the subject of a tax dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into
Hindustan Aeronautics Limited’s contracts from
Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The Central Bureau
of Investigation will look into allegations that over $80 million was paid in
kickbacks in a deal signed in 2011. India has asked Boeing Co. to find a
solution for problems with state-owned Air India’s 787 Dreamliners.
The aircraft has experienced a series of malfunctions since its debut in 2011.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BB+ [Long Term Bank Facilities] |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
01.08.2013 |
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. Bhavesh Narola
|
|
Designation : |
Head of Finance and Accounts |
|
Contact No.: |
91-9820532833 |
|
Date : |
10.04.2014 |
LOCATIONS
|
Registered Office : |
DW-4220, Bharat Diamond Bourse, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra,
India |
|
Tel. No.: |
91-22-40405454 |
|
Mobile No.: |
91-9820532833 [Mr. Bhavesh Narola] |
|
Fax No.: |
91-22-23635115 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory / Branch Office : |
231/236, Pajwa Falia,
Gotalawadi, Green Lines, Katargam,
Surat-395004, Gujarat, India |
|
Tel. No.: |
91-261-2532451/ 52/ 53 |
|
Fax No.: |
91-261-2533460 |
DIRECTORS
AS ON 16.07.2013
|
Name : |
Mr. Bharatkumar Bhikhabhai
Narola |
|
Designation : |
Additional Director |
|
Address : |
Plot No. 60, Jivan Deep Society, Katargam Siganpore Road,
Surat-395004, Gujarat, India |
|
Date of Appointment : |
03.06.2011 |
|
|
|
|
Name : |
Bhavita Rameshbhai Godhani |
|
Designation : |
Additional Director |
|
Address : |
65-66, Kantareshwar Society, Katargam Road, Surat-395004, Gujarat, India |
|
Date of Appointment : |
03.06.2011 |
|
|
|
|
Name : |
Mrs. Reshmaben Vinodkumar
Godhani |
|
Designation : |
Director |
|
Address : |
65-66, Kantareshwar Society, Katargam Road, Surat-395004, Gujarat, India |
|
Date of Birth/Age : |
01.09.1974 |
|
Date of Appointment : |
02.06.2011 |
|
Din No.: |
01855034 |
|
|
|
|
Name : |
Mr. Rameshbhai Virjibhai
Godhani |
|
Designation : |
Director |
|
Address : |
65-66, Kantareshwar Society, Katargam Road, Surat-395004, Gujarat, India |
|
Date of Birth/Age : |
03.04.1975 |
|
Date of Appointment : |
02.06.2011 |
|
Din No.: |
01855714 |
|
|
|
|
Name : |
Mr. Vinodkumar Virjibhai
Godhani |
|
Designation : |
Director |
|
Address : |
13-A, Crystal Co-operative Housing Society, 36, Altamount
Road, Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
11.09.1971 |
|
Date of Appointment : |
02.06.2011 |
|
Din No.: |
01880781 |
KEY EXECUTIVES
|
Name : |
Mr. Bhavesh Narola
|
|
Designation : |
Head of Finance and Accounts |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 16.07.2013
|
Names of Shareholders |
No. of Equity
Shares |
No. of
Preferences Shares |
|
Rameshbhai Virjibhai Godhani |
3465000 |
330000 |
|
Vinodkumar Virjibhai Godhani |
3950000 |
450000 |
|
Bhavita Rameshbhai Godhani |
720000 |
45000 |
|
Reshmaben Vinodkumar Godhani |
1300000 |
225000 |
|
Bharatkumar Bhikhabhai Narola |
350000 |
-- |
|
Sudhirbhai Govindbhai
Patel |
7500 |
-- |
|
Jagdish Bhikhabhai Narola |
7500 |
-- |
|
|
|
|
|
TOTAL
|
9800000 |
1050000 |
AS ON 16.07.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Diamonds. |
|
|
|
|
Exports : |
|
|
Products : |
Diamonds |
|
Countries : |
·
Australia ·
Europe ·
South East Asia ·
USA |
|
|
|
|
Imports : |
|
|
Products : |
Rough Diamonds |
|
Countries : |
·
Belgium ·
Israel ·
Dubai ·
Hong Kong |
GENERAL INFORMATION
|
No. of Employees : |
2500 [Approximately] |
|||||||||||||||||||||
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|||||||||||||||||||||
|
Bankers : |
State Bank of India, Diamond Branch, 1st Floor, Majestic
Shopping Centre, 144, J.S.S. Road, Girgaum,
Mumbai-400004, Maharashtra, India |
|||||||||||||||||||||
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Facilities : |
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|
|
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|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rashmin Mehta and Company Chartered Accountants |
|
Address : |
10, Zaveri Bhavan,
1st Floor, 305/309, Rajaram Mohan Roy
Road, Charni Road, Mumbai-400004, Maharashtra, India |
|
PAN No: |
AAMPM6224A |
|
|
|
|
Associates : |
·
Softworld Technology
(Partnership Firm) ·
Marvin Impex BVBA ·
Marvin Impex Inc. ·
Ocean Diamonds (HK) Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34500000 |
Equity Shares |
Rs.10/- each |
Rs.345.000 Millions |
|
1050000 |
Preferences Shares |
Rs.100/- each |
Rs.105.000 Millions |
|
|
TOTAL
|
|
Rs.450.000
Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9800000 |
Equity Shares |
Rs.10/- each |
Rs.98.000
Millions |
|
1050000 |
Preferences Shares |
Rs.100/- each |
Rs.105.000
Millions |
|
|
TOTAL |
|
Rs.203.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
203.000 |
420.000 |
|
(b) Reserves &
Surplus |
|
758.481 |
452.096 |
|
(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) |
|
961.481 |
872.096 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.362 |
1.029 |
|
(b) Deferred tax
liabilities (Net) |
|
1.576 |
0.443 |
|
(c) Other long term
liabilities |
|
0.000 |
0.200 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
1.938 |
1.672 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
1705.320 |
1634.449 |
|
(b) Trade payables |
|
1669.594 |
1444.442 |
|
(c) Other current
liabilities |
|
1.137 |
1.258 |
|
(d) Short-term provisions |
|
9.985 |
15.966 |
|
Total Current Liabilities
(4) |
|
3386.036 |
3096.115 |
|
|
|
|
|
|
TOTAL |
|
4349.455 |
3969.883 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
85.497 |
91.556 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
1.275 |
1.275 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
17.983 |
13.450 |
|
(e) Other Non-current
assets |
|
0.324 |
2.238 |
|
Total Non-Current Assets |
|
105.079 |
108.519 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
2158.997 |
1967.280 |
|
(c) Trade receivables |
|
2029.612 |
1802.979 |
|
(d) Cash and cash
equivalents |
|
24.368 |
58.334 |
|
(e) Short-term loans and
advances |
|
27.950 |
31.955 |
|
(f) Other current assets |
|
3.449 |
0.816 |
|
Total Current Assets |
|
4244.376 |
3861.364 |
|
|
|
|
|
|
TOTAL |
|
4349.455 |
3969.883 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
3126.100 |
5210.464 |
|
|
|
Other Income |
|
NA |
NA |
|
|
|
TOTAL |
|
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
93.349 |
76.162 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
8.60 |
-- |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover [Approximately] |
|
|
8020.000 |
The above information has been parted by Mr. Bhavesh
Narola.
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
1.77
|
1.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.25 |
1.25 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
|
420.000 |
203.000 |
|
Reserves & Surplus |
|
452.096 |
758.481 |
|
Net worth |
|
872.096 |
961.481 |
|
|
|
|
|
|
long-term borrowings |
|
1.029 |
0.362 |
|
Short term borrowings |
|
1634.449 |
1705.320 |
|
Total borrowings |
|
1635.478 |
1705.682 |
|
Debt/Equity ratio |
|
1.875 |
1.774 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
|
5210.464 |
3126.100 |
|
|
|
|
(40.003) |
NET PROFIT MARGIN
|
Net Profit Margin |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
|
5210.464 |
3126.100 |
|
Profit |
|
76.162 |
93.349 |
|
|
|
1.46% |
2.99% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT:
|
Particulars |
31.03.2013 [Rs.
in millions] |
31.03.2012 [Rs.
in millions] |
|
|
|
|
|
Current
Maturities of Long Term Debt |
0.667 |
0.600 |
|
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 |
No |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
DIAMOND INDUSTRY –
INDIA
-
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.
-
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,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
-
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.
FINANCIAL RESULTS:
During the financial year
ended 31st March, 2012, the Company has affected sales of Rs
3126.100 Millions and accordingly has earned a profit after tax of Rs. 93.349 Millions.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10335208 |
|
Corporate
identity number of the company |
U74999MH2011PTC218207 |
|
Name of the
company |
GODHANI GEMS
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
512-A, Prasad
Chambers, Opera House, Mumbai-400004, Maharashtra, India |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
State Bank of India, Diamond Branch, 1st Floor, Majestic
Shopping Centre, 144, J.S.S. Road, Girgaum,
Mumbai-400004, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
No Instrument.
Memorandum of Entry |
|
Date of
instrument Creating the charge |
04.02.2012 |
|
Amount secured by
the charge |
Rs.1686.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As stipulated by the
said banks in their sanction letters Terms of
Repayment As stipulated by
the said banks in their sanction letters Margin As stipulated by
the said banks in their sanction letters Extent and
Operation of the charge Not Applicable |
|
Short particulars
of the property charged |
The whole of the
current assets of the borrower namely, stocks of raw materials, stocks in
progress, semi-finished goods, stores and spares not relating to plant &
machinery (consumable Stores and
spares) bills, receivables and book debts and all other movables both present
and future whether now lying loose in cases or which are now lying or stored
in or about or shall hereinafter From time to time
during the continuance of this security of these presents be brought into or
upon or be stored or be in or about of the borrowers factories, premises and godowns situated at Mumbai N the state of Maharashtra or wherever else the same may be or be held
by any party to the order or disposition of the borrower or in the course of
transit or on high seas or on order or delivery, Howsoever and
where so ever in the possession of the borrower and either by way of
substitution or addition. Also equitable mortgage by deposit of title deeds
over the immovable property: Office premises
no.512-a on 5th floor admeasuring 528sq.feet in the building known as
"Prasad Chambers Premises Co-Op Society Limited" opera house,
Mumbai 400 004, bearing cadestral survey no. A/1487 (pt) of Girgaum Division standing in the name of Godhani Gems |
|
Date of latest
modification prior to the present modification |
04.02.2012 |
|
Particulars of
the present modification |
Now by the
present modification dt.04.02.2012, a memorandum of entry was executed by SBI
& SBI was acting for itself and agent of Saraswat
Bank, BOI, UBI, SBBJ, axis Bank, ICICI Bank, and an extension of charge was
created by deposit of title deeds over the immovable properties to secure the
credit facilities of Rs.1686.000 millions. |
|
Unsecured Loan |
As
on 31.03.2013 [Rs. in Millions] |
As
on 31.03.2012 [Rs. in Millions] |
|
Loans and advances from directors |
63.079 |
52.654 |
|
TOTAL
|
63.079 |
52.654 |
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.60.21 |
|
|
1 |
Rs.101.05 |
|
Euro |
1 |
Rs.83.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.