MIRA INFORM REPORT
|
Report Date : |
12.11.2014 |
IDENTIFICATION DETAILS
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Name : |
D. NAVINCHANDRA EXPORTS PRIVATE LIMITED (w.e.f 19.04.2010) |
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Formerly Known
As : |
PLATINUM DIAMONDS Private Limited |
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Registered
Office : |
GW-8101, 8th Floor, G-Tower, Bharat Diamond Bourse, Bandra Kurla
Complex, Bandra (East), Mumbai – 400051, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
06.09.2005 |
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Com. Reg. No.: |
11-155937 |
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Capital Investment
/ Paid-up Capital : |
Rs. 21.815 Millions |
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CIN No.: [Company Identification
No.] |
U51398MH2005PTC155937 |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD04685C |
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PAN No.: [Permanent Account No.] |
AADCP6855C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Loose Diamonds. |
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No. of Employees
: |
6000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
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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 : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track record. The company possesses an acceptable financial profile marked by favourable
networth base along with working capital intensive operations owing to
leveraged capital structure and stretched inventory period. Management has witnessed steady growth in its operations,
Characterised by better increase in its sales volume as well as net
profitability during FY14. The ratings also take into consideration, the susceptibility to
volatility in the prices of rough diamond, foreign exchange fluctuation and
increasing competition which may affect the business profile. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. In view of experienced promoters and robust marketing network through
its associates, 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.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
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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 |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses,
recently approached the Delhi high court for relief in two separate cases. The
airline challenged a notice by Punjab & National Bank alleging that It had
wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with
the requirements under the listing agreements with the Stock Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
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Rating Agency Name |
CARE |
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Rating |
Long Term Fund Based Limits “BBB-“ |
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Rating Explanation |
Moderate degree of safety and moderate credit risk. |
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Date |
March 24, 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 (GENERAL DETAILS)
|
Name : |
Mr. Rajesh |
|
Designation : |
Finance Executive |
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Contact No.: |
91-22-66076000 |
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Date : |
10.11.2014 |
LOCATIONS
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Registered Office : |
GW-8101, 8th Floor, G-Tower, Bharat Diamond Bourse, Bandra
Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
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Tel. No.: |
91-22-66076000 |
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Fax No.: |
91-22-66076099 |
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E-Mail : |
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Website : |
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Factory : |
4 Factory in |
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Branch 1 : |
2nd Floor
,Barmi Chambers, 62/2191,Gurudwara Road, Karol Bagh, New Delhi - 100005,
Delhi, India |
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Tel. No.: |
91-11-28753081 |
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E-Mail : |
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Branch 2 : |
Mahalaxmi Gem and Jewellery Mall, 3rd Floor,5-9-224/1 and 2, Opposite Little Flower School, Chirag Ali Lane, Abids, Hyderabad - 500001, Andhra Pradesh, India |
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Fax No.: |
91-40-66660039 |
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E-Mail : |
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Branch Office 3: |
Also located at · Kolkata, West Bengal, India |
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Marketing Affiliates: |
M/S.Dianco B.V.B.A., Hoveniersstraat 2 Pb 306, 2018,
Antwerpn, 10th Floor, |
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Tel. No.: |
00323 232 98 27 |
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Fax No.: |
00323231 96 83 |
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E-Mail : |
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Marketing Affiliates: |
Also located at · Dubai · Hongkong |
DIRECTORS
AS ON 30.09.2014
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Name : |
Mr. Samir Shantilal Mehta |
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Designation : |
Director |
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Address : |
902/903- Rajul Apat, 9/Harkness Road, Malbar Hill, Mumbai - 400006,
Maharashtra, India |
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Date of Birth/Age : |
30.07.1963 |
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Date of Appointment : |
06.09.2006 |
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DIN No. : |
00244242 |
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Other Directorship :
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Name : |
Mr. Ajesh Navinchandra Mehta |
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Designation : |
Director |
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Address : |
51 Vijaydeep 5th Flr, 31, Ridge Road, Mumbai - 400006, Maharashtra,
India |
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Date of Birth/Age : |
08.01.1969 |
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Date of Appointment : |
30.09.2008 |
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DIN No. : |
01546771 |
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Other Directorship :
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Name : |
Mr. Shantilal Mangalji Mehta |
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Designation : |
Director |
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Address : |
902/903- Rajul Apat, 9/Harkness Road, Malbar Hill, Mumbai- 400006,
Maharashtra, India |
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Date of Birth/Age : |
26.05.1933 |
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Date of Appointment : |
01.04.2010 |
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DIN No. : |
00292950 |
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Other Directorship :
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Name : |
Mr. Navinchandra Dalpatlal Mehta |
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Designation : |
Director |
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Address : |
51, Vijaydeep, 5th Floor, 31 Ridge Road, Walkeshwar, Mumbai – 400001, Maharashtra,
India |
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Date of Birth/Age : |
05.11.1937 |
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Date of Appointment : |
18.03.2010 |
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DIN No. : |
00338276 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Rajesh |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Equity Shareholders |
No. of Shares |
|
Samir Shantilal Mehta |
5000 |
|
Ajesh Navinchandra Mehta |
5000 |
|
Total |
10000 |
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Names of 1% Non-Cumulative Redeemable
Shareholders |
No. of Shares |
|
Samir Shantilal Mehta |
1050000 |
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Ajesh Navinchandra Mehta |
1050000 |
|
Total |
2100000 |
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Names of 6%
Non-Cumulative Redeemable Preference Shareholders of Series-B |
No. of Shares |
|
Navinchandra Dalpatlal Mehta |
15000 |
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Ajesh Navinchandra Mehta |
10,000 |
|
Samir Shantilal Mehta |
25000 |
|
Total |
50000 |
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Names of 6%
Non-Cumulative Redeemable Preference Shareholders of Series-C |
No. of Shares |
|
Navinchandra Dalpatlal Mehta |
10750 |
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Samir Shantilal Mehta |
10750 |
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Total |
21500 |
As on 30.0.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Loose Diamonds. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Diamond |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS – Not Available
GENERAL INFORMATION
|
Suppliers : |
Dianco BVBA Antwerp |
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Customers : |
Dianco BVBA Antwerp |
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No. of Employees : |
6000 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ramesh Rajni and Company Chartered Accountants |
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Address : |
1st Floor, Purshottam, Bldg, 405, Lamington Road, Opera House, Mumbai – 400004, Maharashtra, India |
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PAN No.: |
AAFFR7782K |
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|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives |
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CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
2300000 |
Preference Shares |
Rs.10/- each |
Rs. 23.000 Millions |
|
|
Total |
|
Rs. 23.100
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
2171500 |
Preference Shares |
Rs.10/- each |
Rs. 21.715 Millions |
|
|
Total |
|
Rs. 21.815
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
21.815 |
21.815 |
22.586 |
|
(b) Reserves &
Surplus |
1834.482 |
1558.414 |
1356.061 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
1856.297 |
1580.229 |
1378.647 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
185.448 |
285.413 |
408.710 |
|
(b) Deferred tax
liabilities (Net) |
8.888 |
2.705 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
194.336 |
288.118 |
408.710 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2318.364 |
1933.959 |
1684.401 |
|
(b) Trade payables |
2170.241 |
1603.207 |
1502.254 |
|
(c) Other current
liabilities |
52.220 |
31.753 |
6.300 |
|
(d) Short-term provisions |
7.431 |
2.404 |
3.391 |
|
Total Current Liabilities
(4) |
4548.256 |
3571.323 |
3196.346 |
|
|
|
|
|
|
TOTAL |
6598.889 |
5439.670 |
4983.703 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
529.685 |
395.453 |
301.618 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
99.553 |
57.661 |
9.916 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
2.601 |
|
(d) Long-term Loan and Advances |
67.292 |
71.078 |
90.149 |
|
(e) Other Non-current
assets |
0.000 |
0.087 |
0.838 |
|
Total Non-Current Assets |
696.530 |
524.279 |
405.122 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3412.630 |
2941.528 |
2714.520 |
|
(c) Trade receivables |
2370.565 |
1930.587 |
1793.299 |
|
(d) Cash and cash equivalents |
97.322 |
26.318 |
18.130 |
|
(e) Short-term loans and
advances |
15.569 |
11.305 |
47.899 |
|
(f) Other current assets |
6.273 |
5.653 |
4.733 |
|
Total Current Assets |
5902.359 |
4915.391 |
4578.581 |
|
|
|
|
|
|
TOTAL |
6598.889 |
5439.670 |
4983.703 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
9615.484 |
6573.847 |
6315.143 |
|
|
Other Income |
3.264 |
15.776 |
92.925 |
|
|
TOTAL |
9618.748 |
6589.623 |
6408.068 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
9004.091 |
6139.080 |
5991.318 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
614.657 |
450.543 |
416.750 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
134.361 |
114.966 |
64.216 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
480.296 |
335.577 |
352.534 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
53.986 |
35.083 |
23.009 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE EXCEPTIONAL
ITEMS AND TAX |
426.310 |
300.494 |
329.525 |
|
|
|
|
|
|
|
Less |
EXCEPTIONAL
ITEMS |
4.180 |
0.248 |
(67.111) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
422.130 |
300.246 |
396.636 |
|
|
|
|
|
|
|
Less |
TAX |
145.766 |
97.893 |
111.086 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
276.364 |
202.353 |
285.550 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
6526.175 |
4160.613 |
4401.564 |
|
|
Other Income? Local sale
in Dollar |
1789.558 |
1591.406 |
1103.598 |
|
|
TOTAL EARNINGS |
8315.733 |
5752.019 |
5505.162 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(Rs.) |
126.69 |
92.76 |
130.90 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
2.87 |
3.09 |
4.52 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
6.39 |
6.85 |
6.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.49 |
5.58 |
7.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.19 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.35 |
1.40 |
1.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
1.38 |
1.43 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
22.586 |
21.815 |
21.815 |
|
Reserves & Surplus |
1356.061 |
1558.414 |
1834.482 |
|
Net worth |
1378.647 |
1580.229 |
1856.297 |
|
|
|
|
|
|
long-term borrowings |
408.710 |
285.413 |
185.448 |
|
Short term borrowings |
1684.401 |
1933.959 |
2318.364 |
|
Total borrowings |
2093.111 |
2219.372 |
2503.812 |
|
Debt/Equity ratio |
1.518 |
1.404 |
1.349 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
6315.143 |
6573.847 |
9615.484 |
|
|
|
4.097 |
46.269 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
6315.143 |
6573.847 |
9615.484 |
|
Profit |
285.550 |
202.353 |
276.364 |
|
|
4.52% |
3.08% |
2.87% |
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 |
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 |
Yes |
|
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 |
No |
Note:
The Registered office of the company has been shifted GW8101, Bharat
Diamond Bourse, G Block, West Wing, Bandra Kurla Complex, Bandra (East), Mumbai
– 400051, Maharashtra, India to the present address w.e.f. 01.01.2014
OPERATIONS/WORKING
RESULTS
During the year, the Company has recorded Revenue from Operations of Rs.9615.483 Millions as compared to the Revenue from Operations for last year of Rs.6573.847 Millions and also earned Other Income of Rs.3.264 Millions as compared to that of Rs. 15.776 Millions for the corresponding previous year.
The Company has earned net profit to the tune of Rs.276.364 Millions as compared to profit earned of Rs.202.353 Millions in respect of the corresponding previous year, after making provision for taxation and deferred tax adjustment.
Barring unforeseen circumstances, further improvement in sale and profitability is expected in the current year in view of continued efforts being made. Further the company is taking effective steps to strengthen the profitability and financial soundness of the Company.
VIEW INDEX OF
CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10276081 |
28/06/2014 * |
2,932,000,000.00 |
State Bank of India |
Diamond Branch, D-3, Tower, G-Block, Bharat Diamond Bourse, Bandra Kurla Complex, MUMBAI, Maharashtra - 400051, INDIA |
C13252457 |
|
2 |
10213013 |
29/03/2010 |
660,000,000.00 |
STATE BANK OF INDIA |
DIAMOND BRANCH, 1ST
FLOOR, MAJESTIC SHOPPING CENTRE, 144 JSS ROAD, GIRGAUM, MUMBAI, Maharashtra
- |
A83449652 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Residential building
- Office building
- Factory building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
PRESS RELEASE
Inspired by the rich heritage of India, the “Zayna” collection by D Navinchandra Exports Pvt Ltd in association with Kripalani and Sons was a brilliant offering at the India International Jewellery Week 2012.
D Navinchandra Pvt Ltd has combined several decades of expertise and grown from a small family business to a major organization with 8000 artisans in Surat, Ahmedabad and Bhavnagar. The craftsmanship of Kripalani and Sons is unmatched and the company has carved a name in the world of fabulous diamond jewellery.
It was a collection that was an ode to the beauty of queens and inspired by the treasures from kingdoms of bygone eras when displayed before the eager audience.
Dazzling diamond studded jewellery came to life on the catwalk. Using the best diamonds in the world; the collection was a tribute to royalty as stunning necklaces, earrings, cuffs and rings appeared on graceful models.
Twinkling diamonds were edged with pearls for the necklaces. Ornate triangular centres highlighted the chokers. A central square emerald was hypnotizing, making the necklace a mesmerizing piece of jewellery.
Collars shone with precious gems while large ruby and diamond flowers at the corner or centre of imposing necklaces were the cynosure of all eyes. Often tiny rubies were shaped in curves and waves to highlight the ornaments.
Walking the ramp to end the show was the popular Bollywood star, Yami Gautam who made a mark in the hit film, “Vicky Donor”. She looked gorgeous in a dramatic necklace with a 3D diamond floral centre, which was also seen through the set on the ring, bracelet and earrings.
The fabulous saris and regal anarkali kurtas in rich Indian hues worn by the models were from Jashn.
The splendor of the past was recreated in the “Zayna” collection by D Navinchandra Exports Private Limited in association with Kripalani and Sons and will be coveted by women of fine tastes and style.
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. 61.55 |
|
|
1 |
Rs. 97.52 |
|
Euro |
1 |
Rs. 76.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
46 |
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.