MIRA
INFORM REPORT
|
Report Date : |
25.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
KALAMANDIR JEWELLERS LIMITED (w.e.f.14.05.2013) |
|
|
|
|
Formerly Known
As : |
KALAMANDIR JEWELLERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2287 Survey No.25/P, Choksi Bazar, Kosamba, Mangrol, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
21.05.2009 |
|
|
|
|
Com. Reg. No.: |
04-057024 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.9.960 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36911GJ2009PLC057024 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTK02819F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCK6700F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Retailer and Trader of Gold, Jewellery, Diamond |
|
|
|
|
No. of Employees
: |
140 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Not Available |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. As per ROC the date of balance sheet (i.e. financial filed) is shown as
31.03.2013 but the documents related to the financial for the year 2013 are
not available from any sources. However, as per indirect source i.e. CRISIL we found that the company
has achieved a decent turnover and profit during financial year 2013. As per available financials of 2012, the general financial position of
the company seems to be decent. Trade relations are reported as fair. Business is active. Payments
terms are reported to be usually correct. 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.
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before.A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College Business
School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating =BBB |
|
Rating Explanation |
Moderate degree of safety and carry moderate credit risk. |
|
Date |
13.03.2014 |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Bhavik |
|
Designation : |
Account Department |
|
Contact No.: |
91-261-331000 |
|
Date : |
24.07.2014 |
LOCATIONS
|
Registered Office : |
2287 Survey No.25/P, Choksi Bazar, Kosamba, mangrol, Surat – 394 120,
Gujarat, India |
|
Tel. No.: |
91-2629-231666 |
|
Fax No.: |
91-2629-231666 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Showrooms : |
Located at: ·
Kosamba and Bharuch |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Milan Kumar Mohanlal Shah |
|
Designation : |
Additional Director |
|
Address : |
B1/2, Somnath Society At Tarsadi,
Post: Kosamba, Tal-Mangrol, Surat – 394 210, Gujarat, India |
|
Date of Birth/Age : |
06.03.1977 |
|
Date of Appointment : |
04.12.2010 |
|
DIN No.: |
02109317 |
|
|
|
|
Name : |
Mr. Sharad Kumar Mohanlal Shah |
|
Designation : |
Director |
|
Address : |
At Op Tarsadi, Kosamba, Mahavir Apartment, Mangrol, Surat – 394 210,
Gujarat, India |
|
Date of Birth/Age : |
28.01.2071 |
|
Date of Appointment : |
21.05.2009 |
|
DIN No.: |
02604653 |
|
|
|
|
Name : |
Mr. Rajesh Kumar Mohanlal Shah |
|
Designation : |
Director |
|
Address : |
B3/4, Mahavir Apartment, Tarsadi, Kosamba, Tal-Mangrol, Surat – 394
210, Gujarat, India |
|
Date of Birth/Age : |
20.02.1973 |
|
Date of Appointment : |
21.05.2009 |
|
DIN No.: |
02604727 |
|
|
|
|
Name : |
Mr. Mohanlal Bhimraj Shah |
|
Designation : |
Director |
|
Address : |
32-B, Somnath Society, Hathura Road, At-Tarsadi, Po-Kosamba, City
Light Road, Athwalies, Mangrol, Surat – 394 120, Gujarat, India |
|
Date of Birth/Age : |
14.10.1945 |
|
Date of Appointment : |
15.10.2010 |
|
DIN No.: |
02778049 |
|
|
|
|
Name : |
Mr. Dipesh Kumar Mohanlal Shah |
|
Designation : |
Director |
|
Address : |
B1/2, Mahavir Apartment, Tarsadi, Kosamba, Tal-Mangrol, Surat – 394
210, Gujarat, India |
|
Date of Birth/Age : |
18.05.1974 |
|
Date of Appointment : |
15.11.2010 |
|
DIN No.: |
02778123 |
KEY EXECUTIVES
|
Name : |
Mr. Bhavik |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
Note: Shareholding Details List Attached.
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
50.00 |
|
Other top fifty shareholders |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Retailer and Trader of Gold, Jewellery, Diamond |
|
|
|
|
Products : |
·
Diamond Jewellery Ř Diamond Earring Ř Diamond Ring Ř Diamond Pendant
Set ·
Fashion Jewellery Ř Fashion Ring Ř Fashion Pendant Ř Fashion Earring ·
Gold Jewellery Ř Gold Ring Ř Gold Earring Ř Gold Bracelet ·
Calcutta Jewellery Ř Jewellery Set Ř Gold Bangles |
GENERAL INFORMATION
|
Suppliers : |
M S. Jewellers |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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No. of Employees : |
140 (Approximately) |
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|
||||||||||||||||||||||||
|
Bankers : |
· Axis Bank Limited, Plot No. C-3-9, Opposite Asopalav Guest House, Near Railway Station, Old N.H. No.8, GIDC, Ankleshwar – 393 002, Gujarat, India · HDFC Bank Limited, HDFC House Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Kansariwala and Chavli Chartered Accountants |
|
Address : |
2/1447, Utkarsh, 1st Floor, Opposite Sanghvi Hospital,
Sagrampura, Surat – 395 002, Gujarat, India |
|
PAN No.: |
AAFFK4329R |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
996000 |
Equity Shares |
Rs. 10/- each |
Rs.9.960 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
9.960 |
9.960 |
|
(b) Reserves & Surplus |
|
233.443 |
149.997 |
|
(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) |
|
243.403 |
159.957 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
120.455 |
128.426 |
|
(b) Deferred tax liabilities (Net) |
|
0.218 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
120.673 |
128.426 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
59.170 |
58.674 |
|
(b) Trade payables |
|
26.139 |
3.383 |
|
(c) Other current
liabilities |
|
33.945 |
21.945 |
|
(d) Short-term provisions |
|
31.301 |
19.290 |
|
Total Current Liabilities (4) |
|
150.555 |
103.292 |
|
|
|
|
|
|
TOTAL |
|
514.631 |
391.675 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
29.737 |
13.882 |
|
(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 |
|
0.003 |
0.003 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.592 |
0.592 |
|
(e) Other Non-current assets |
|
0.056 |
0.074 |
|
Total Non-Current Assets |
|
30.388 |
14.551 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
408.910 |
332.384 |
|
(c) Trade receivables |
|
29.109 |
11.879 |
|
(d) Cash and cash
equivalents |
|
41.341 |
28.791 |
|
(e) Short-term loans and
advances |
|
4.342 |
3.567 |
|
(f) Other current assets |
|
0.541 |
0.503 |
|
Total Current Assets |
|
484.243 |
377.124 |
|
|
|
|
|
|
TOTAL |
|
514.631 |
391.675 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1.600 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
19.146 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
20.746 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
11.635 |
|
|
2] Unsecured Loans |
|
|
122.066 |
|
|
TOTAL BORROWING |
|
|
133.701 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
154.447 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2.850 |
|
|
Capital work-in-progress |
|
|
0..000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.042 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
167.414 |
|
|
Sundry Debtors |
|
|
10.530 |
|
|
Cash & Bank Balances |
|
|
3.851 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.142 |
|
Total
Current Assets |
|
|
181.937 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
20.768 |
|
|
Provisions |
|
|
9.706 |
|
Total
Current Liabilities |
|
|
30.474 |
|
|
Net Current Assets |
|
|
151.463 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.092 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
154.447 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
NA |
NA |
NA |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
58.558 |
29.249 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
NA |
0.693 |
0.238 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
NA |
57.865 |
29.011 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
22.110 |
9.864 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
83.446 |
35.755 |
19.147 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
54.902 |
19.147 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
138.348 |
54.902 |
19.147 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
83.78 |
35.90 |
119.67 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales |
|
|
4.34 Billion |
|
|
|
|
|
|
Profit After Tax |
|
|
290.100 Millions |
The above information has been taken from indirect source i.e. CRISIL
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
14.80 |
0.16
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.36 |
1.40
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.74
|
1.17 |
6.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.22
|
3.65 |
1.20 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2011 |
31.03.2012 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
|
9.960 |
9.960 |
|
Reserves & Surplus |
|
149.997 |
233.443 |
|
Net
worth |
|
159.957 |
243.403 |
|
|
|
|
|
|
long-term borrowings |
|
128.426 |
120.455 |
|
Short term borrowings |
|
58.674 |
59.170 |
|
Total
borrowings |
|
187.100 |
179.625 |
|
Debt/Equity
ratio |
|
1.170 |
0.738 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT: NOT AVAILABLE
|
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 |
Yes |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
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 |
No |
|
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 |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long Term Borrowings |
|
|
|
Loans and
Advances from Directors |
38.808 |
39.234 |
|
Loans and
Advances from Others |
74.565 |
89.136 |
|
|
|
|
|
Total |
113.373 |
128.370 |
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.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10414033 |
11/03/2013 |
20,000,000.00 |
AXIS
BANK LIMITED |
PLOT
NO. C-3-9, OPP. ASOPALAV GUEST HOUSE, NEAR RAILWAY STATION, OLD N.H. NO. 8,
GIDC, ANKLESHWAR – 393 002, |
B71469027 |
|
2 |
10281578 |
27/11/2012
* |
180,000,000.00 |
AXIS
BANK LIMITED |
PLOT
NO. C-3-9, OPP. ASOPALAV GUEST HOUSE, NEAR RAILWAY STATION, OLD N.H. NO. 8,
GIDC, ANKLESHWAR – 393 002, |
B64694508 |
|
3 |
10275660 |
09/11/2012
* |
180,000,000.00 |
AXIS
BANK LIMITED |
PLOT
NO. C-3-9, OPP. ASOPALAV GUEST HOUSE, NEAR RAILWAY STATION, OLD N.H. NO. 8,
GIDC, ANKLESHWAR – 393 002, |
B63357818 |
* Date of charge modification
FIXED ASSETS
·
Computers
·
Furniture and Fixture
·
Vehicles
·
Motor Vehicles
·
Equipments
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.60.00 |
|
|
1 |
Rs.102.19 |
|
Euro |
1 |
Rs.80.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.